...S&P Global Ratings assigned its '##' long-term rating to the City of Celina, Texas' series 2021 tax and waterworks and sewer system (limited pledge) revenue certificates of obligation. At the same time, S&P Global Ratings affirmed its '##' long-term rating on the city's previously issued parity general obligation (GO) debt. The outlook is stable. The series 2021 certificates constitute direct obligations of the city, payable from a combination of the levy and collection of a continuing annual ad valorem tax, within the limits prescribed by law, on all taxable property within Celina. The certificates are additionally supported by net revenue (not to exceed $1,000) from the operation of the city's waterworks and sewer system. State 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. Administratively, the Texas attorney general will permit the allocation of $1.50 of the $2.50 maximum tax rate for ad valorem...
