Summary: Cedar Park, Texas; General Obligation

Standard&Poor's Ratings Services assigned its 'AA' long-term rating to Cedar Park, Texas' series 2015 general obligation (GO) refunding and improvement bonds. At the same time, Standard&Poor's affirmed its 'AA' long-term rating and underlying rating (SPUR) on the city's parity general obligation (GO) debt. The outlook is stable. An ad valorem property tax, levied within the limits prescribed by law, on all taxable property in the city secures the bonds. The city's current property tax rate of 48.50 cents per $100 of assessed value (AV) is well below the maximum allowable tax rate of $2.50 per $100 of AV. Management intends to utilize bond proceeds for road improvements and refunding existing debt for present value savings. The ratings

...Standard & Poor's Ratings Services assigned its '##' long-term rating to Cedar Park, Texas' series 2015 general obligation (GO) refunding and improvement bonds. At the same time, Standard & Poor's affirmed its '##' long-term rating and underlying rating (SPUR) on the city's parity general obligation (GO) debt. The outlook is stable. An ad valorem property tax, levied within the limits prescribed by law, on all taxable property in the city secures the bonds. The city's current property tax rate of 48.50 cents per $100 of assessed value (AV) is well below the maximum allowable tax rate of $2.50 per $100 of AV. Management intends to utilize bond proceeds for road improvements and refunding existing debt for present value savings. The ratings reflect our assessment of the following factors for the city, specifically its:...

Summary