...S&P Global Ratings assigned its '##' long-term rating to the City of Celina, Texas' $64.8 million series 2022 tax and waterworks and sewer system (limited pledge) revenue certificates of obligations bonds. At the same time, we affirmed our '##' long-term rating on the city's existing certificates of obligations and general obligation (GO) bonds. The outlook is stable. The series 2022 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...
