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Summary: Holt Pub Schs, MI; Tax Secured, School State Program

Published Oct 15, 2002

1234 words — Published Oct 15, 2002

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Abstract:

The 'AAA' enhanced rating on Holt Public Schools, Mich.'s unlimited-tax GO refunding bonds reflects the additional security provided by the Michigan School Bond Loan Fund program. Section 16 of Article 9 of Michigan's 1963 Constitution created the Michigan School Bond Loan Fund program to provide districts access to funds to avoid a default on qualified debt. Under the program, if a school district fails to meet its debt service obligation for qualified debt, the state treasurer is notified. The treasurer pays the required debt service, and payment to bondholders is uninterrupted. If the balance in the state's loan fund is insufficient to cover obligations, the state is required to make loans from the general fund. Since the fund is an

Brief Excerpt:

RESEARCH Summary: Holt Pub Schs, MI; Tax Secured, School State Program Publication date: 15-Oct-2002 Credit Profile $64.9 mil muni debt muni issue ser 2002 due 2030 ###/A-1+/A(SPUR) Sale date: 15-OCT-2002 OUTLOOK: STABLE AFFIRMED $47.455...

Report Type:

Summary

Issuer

Holt Pub Schs

Sector

Public Finance

Format:

HTML

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MLA:	S&P Global Ratings’ Credit Research. "Summary: Holt Pub Schs, MI; Tax Secured, School State Program" Oct 15, 2002. Alacra Store. May 23, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Holt-Pub-Schs-MI-Tax-Secured-School-State-Program-270214>

APA:	S&P Global Ratings’ Credit Research. (). Summary: Holt Pub Schs, MI; Tax Secured, School State Program Oct 15, 2002. New York, NY: Alacra Store. Retrieved May 23, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Holt-Pub-Schs-MI-Tax-Secured-School-State-Program-270214>

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