...S&P Global Ratings assigned its 'A+' long-term rating to Burton School District, Calif.'s election of 2016 general obligation (GO) series A bonds. At the same time, S&P Global Ratings assigned its 'A' long-term rating to the district's series 2017 certificates of participation (COPs). In addition, S&P Global Ratings affirmed its 'A' long-term rating and underlying rating (SPUR) on the district's COPs outstanding. The outlook on all ratings is stable. Revenue from unlimited ad valorem taxes levied on taxable property in the district secures the GO bonds. The board of supervisors of Tulare County has the power and obligation to levy these taxes at the district's request for the bonds' repayment. The county is required to deposit such taxes, when collected, into the bonds' debt service fund. District residents passed a $6 million bond measure in 2016, and the series A bonds will be the majority of the authorization. Proceeds from the GO bonds will be used to finance improvements to school...
