The 'AAA' enhanced rating on Leander Independent School District, Texas' series 2004 unlimited-tax school building and refunding bonds is based on the guarantee provided by the Texas Permanent School Fund. The 'A' Standard&Poor's underlying rating (SPUR) reflects the district's: Participation in the rapidly growing Austin MSA economy, which provides significant employment opportunities; Continued expansion of the sizeable tax base, supported by households with above average incomes; and Consistently strong financial performance, with maintenance of sound reserves, despite continued growth pressures. The above strengths are constrained by a high debt burden, with future capital needs to support considerable enrollment growth. The district's full faith and credit pledge secures the bonds. Leander Independent School District (population: about 100,000) is located
