The Standard&Poor's underlying rating (SPUR) on Austin, Texas' bonds rating reflects: A diversified regional economy that has exhibited strong growth in employment and income levels over the past decade; Sound 1.7 times (x) coverage of maximum annual debt service (MADS) based on fiscal 2000 revenues; A closed lien on revenues, offsetting a narrow revenue stream; and A strong trend of passenger activity and growth in rental car activity at the city's Bergstrom airport, coupled with strong growth trends in the national rental car industry. The bonds are secured by a pledge of a special motor vehicle rental tax set at 5% of gross revenues, parking revenues, and Town Lake event center revenues. Revenue generated from airport automobile rentals
