Summary: Celina, Texas; General Obligation

S&P Global Ratings assigned its 'AA' long-term rating to the city of Celina, Texas' $141 million series 2024 tax and waterworks&sewer system (limited pledge) revenue certificates of obligation (CO) bonds. At the same time, we affirmed our 'AA' rating on the city's existing COs and general obligation (GO) debt. The outlook is stable. A limited ad valorem tax, levied on all taxable property within the city, secures Celina's GO bonds and certificates. Texas 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. The Texas attorney general permits the allocation of $1.50 of the $2.50 maximum tax rate for ad valorem tax debt service.

...Most recent Historical information 2023 2022 2021 Very strong economy Projected per capita EBI % of U.S. 152.7 Market value per capita ($) 185,533 Population 34,229 9,555 County unemployment rate (%) 3.2 Market value ($000) 6,350,615 4,472,256 2,966,975 Ten largest taxpayers % of taxable value 5.0 Strong budgetary performance Operating fund result % of expenditures 5.9 26.3 35.6 Total governmental fund result % of expenditures 1.2 32.4 20.3 Very strong budgetary flexibility Available reserves % of operating expenditures 60.2 84.0 68.9 Total available reserves ($000) 25,102 23,421 16,329 Very strong liquidity Total government cash % of governmental fund expenditures 164.0 234.1 153.9 Total government cash % of governmental fund debt service 1,392.0 1,605.8 1,328.1 Strong management Financial Management Assessment Good Very weak debt & long-term liabilities Debt service % of governmental fund expenditures 11.8 14.6 11.6 Net direct debt % of governmental fund revenue 570.3 Overall net debt...

Summary