Summary: Cedar Hill, Texas; General Obligation

S&P Global Ratings has assigned its 'AA' long-term rating to the city of Cedar Hill, Texas' series 2020 general obligation (GO) bonds and series 2020 combination tax and revenue certificates of obligation. At the same time, S&P Global Ratings affirmed its 'AA' long-term rating on the city's GO debt outstanding. The outlook is stable. Security and use of proceeds The city's new and existing GO bonds and certificates are secured by a limited-ad valorem tax, levied on all taxable property within the city. The certificates are additionally secured from a limited pledge not to exceed $1,000 of the surplus net revenues of the city's waterworks and sewer system. Given the limited nature of the additional pledged revenues, we base our

...S&P Global Ratings has assigned its '##' long-term rating to the city of Cedar Hill, Texas' series 2020 general obligation (GO) bonds and series 2020 combination tax and revenue certificates of obligation. At the same time, S&P Global Ratings affirmed its '##' long-term rating on the city's GO debt outstanding. The outlook is stable. Security and use of proceeds The city's new and existing GO bonds and certificates are secured by a limited-ad valorem tax, levied on all taxable property within the city. The certificates are additionally secured from a limited pledge not to exceed $1,000 of the surplus net revenues of the city's waterworks and sewer system. Given the limited nature of the additional pledged revenues, we base our ratings on these obligations on the city's ad valorem tax pledge. Texas statutes limit the ad valorem tax rate for home rule cities to $2.50 per $100 of taxable assessed valuation (AV) for all city purposes. The state attorney general will permit the allocation of...

Summary