Summary: Lewisville, Texas; General Obligation

S&P Global Ratings assigned its 'AAA' long-term rating to Lewisville, Texas' anticipated $36.08 million series 2021A general obligation (GO) refunding bonds, $25.195 million series 2021B taxable GO refunding bonds, $31.575 million series 2021C GO refunding bonds, and $36.895 million series 2021D taxable GO refunding bonds. At the same time, S&P Global Ratings affirmed its 'AAA' rating on the city's existing GO and certificate of obligation (CO) bonds. The outlook is stable. The GO bonds and the CO bonds are payable from the levy and collection of a direct and continuing ad valorem tax levied, within the limits prescribed by law, on all taxable property within the city. The certificates are additionally secured from a limited pledge not to exceed $1,000

...S&P Global Ratings assigned its '###' long-term rating to Lewisville, Texas' anticipated $36.08 million series 2021A general obligation (GO) refunding bonds, $25.195 million series 2021B taxable GO refunding bonds, $31.575 million series 2021C GO refunding bonds, and $36.895 million series 2021D taxable GO refunding bonds. At the same time, S&P Global Ratings affirmed its '###' rating on the city's existing GO and certificate of obligation (CO) bonds. The outlook is stable. The GO bonds and the CO bonds are payable from the levy and collection of a direct and continuing ad valorem tax levied, within the limits prescribed by law, on all taxable property within the city. The certificates are additionally secured from a limited pledge not to exceed $1,000 of net revenues of the city's combined waterworks and sewer system. Given the limited nature of the additional pledged revenues, we base our ratings on these obligations on the city's limited-tax GO pledge. Despite state statutory tax-rate...

Summary