Summary: Celina, Texas; General Obligation

S&P Global Ratings assigned its 'AA' long-term rating to the City of Celina, Texas' $7.335 million series 2021 general obligation refunding bonds. The outlook is stable. The series 2021 certificates constitute direct obligations of the city, payable from the levy and collection of a continuing annual ad valorem tax, within the limits prescribed by law, on all taxable property within Celina. 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 tax debt service. In fiscal 2021, the city's levy is was well below the

...S&P Global Ratings assigned its '##' long-term rating to the City of Celina, Texas' $7.335 million series 2021 general obligation refunding bonds. The outlook is stable. The series 2021 certificates constitute direct obligations of the city, payable from the levy and collection of a continuing annual ad valorem tax, within the limits prescribed by law, on all taxable property within Celina. 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 tax debt service. In fiscal 2021, the city's levy is was well below the maximum at 64.50 cents per $100 of AV, 19.19 cents of which is dedicated to debt service. Based on the application of our criteria "Issue Credit Ratings Linked To U.S. Public Finance Obligors' Creditworthiness," published Nov. 20, 2019, on RatingsDirect, we do not differentiate...

Summary