The 'A+' rating on Cedar Hill, Texas' series 2005 GO bonds reflects the city's: Sustained property-tax base growth and diversification; Participation in the diverse Dallas-Fort Worth MSA economy, with good transportation access to the greater Dallas, Texas labor market; Above-average income and wealth levels; and Consistently strong financial performance and position. These strengths are offset, in part, by the city's: Escalating long-term liability to the U.S. Army Corps of Engineers, requiring annual set asides from the water and sewer enterprise fund; and High overall debt levels, coupled with future growth-driven capital needs. The 'A+' standard long-term rating and Standard&Poor's underlying rating (SPUR) on the city's outstanding GO bonds and certificates of obligation have been affirmed. The city's full
