S&P Global Ratings assigned its'A'long-term rating to the Redlands Unified School District (USD) Community Facilities District (CFD) No. 2016-1, California's estimated $26.9 million series 2026 special tax bonds. The outlook is stable. The bonds are secured by the CFD's revenue from special taxes levied on taxable parcels within Redlands USD CFD No. 2016-1. Special taxes are levied pursuant to California's Mello-Roos Community Facilities Act of 1982 and are not unlimited ad valorem property taxes; however, the taxing jurisdiction collects these special taxes at the same time and in the same manner as municipalities collect property taxes. The CFD will maintain a debt service reserve fund (DSRF) that will be funded at the reserve requirement of the least of
