...S&P Global Ratings assigned its '##' long-term rating to the City of Celina, Texas' $32.1 million series 2021A tax and waterworks and sewer system (limited pledge) revenue certificates of obligations bonds. The outlook is stable. The series 2021A 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. They are additionally secured by a limited pledge (not to exceed $1,000) of the net revenues from the operations 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 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...
