...S&P Global Ratings assigned its '###' long-term program rating and 'A' underlying rating to City View Independent School District (ISD), Texas' unlimited tax school building bonds, series 2019. At the same time, S&P Global Ratings affirmed its '###' long-term rating and 'A' underlying rating on the district's existing unlimited-tax debt. The outlook on all ratings is stable. Revenue from ad valorem taxes, without legal limitation as to the rate or amount, levied annually against all taxable property in the district secures the series 2019 bonds. The bonds will be issued in the full amount of the May 2019 voter authorization of $9.5 million for the purpose of renovations and improvements to existing school facilities. The program rating reflects our view of the district's eligibility for, and participation in, the Texas Permanent School Fund (PSF) bond guarantee program, which provides the security of a permanent fund of assets the district can use to meet debt service on bonds guaranteed...
