...S&P Global Ratings assigned its '##-' long-term rating to the city of Greenfield, Ind.'s series 2018 limited ad valorem property tax park district bonds. At the same time, S&P Global Ratings affirmed its '##-' rating on the city's 2016 general obligation (GO) bonds. The outlook on all ratings is stable. The 2018 bonds are secured by, and payable from, a special benefits tax (ad valorem property tax) subject to Indiana's circuit breaker legislation levied within the park district boundaries, which is coterminous with the city. Greenfield will use bond proceeds to fund various improvement and upgrade projects for the city's swimming pool. The 2016 GO bonds are secured by ad valorem taxes against all taxable property in the city, subject to Indiana's circuit breaker legislation. The ad valorem property tax pledges are subject to state circuit-breaker legislation, which caps the property tax burden for taxpayers based on a percent of the real estate parcels' gross assessed value. This can,...
