NEW YORK (Standard&Poor's CreditWire) Aug. 27, 1999-- Standard&Poor's today assigned its double-'A' rating to Austin, Texas' $51.1 million public improvement bonds series 1999 due Sept. 1, 2019, $5.59 million certificates of obligation series 1999 due Sept. 1, 2019, and $10.34 million public property finance contractual obligation series 1999 due Nov. 1, 2006. The bonds and obligations are scheduled to sell Sept. 9, 1999. At the same time, Standard&Poor's affirmed its double-'A' rating on the city's outstanding GO and taxable bonds. The rating reflects: -- A strong local economic base anchored by the state government; -- A growing high tech manufacturing industry and an expanding service sector; and -- Strong tax base growth and pressured,
