Summary: Missouri; Appropriations

S&P Global Ratings assigned its 'AA-' long-term rating to Land Clearance for Redevelopment Authority (LCRA), Mo.'s $29.030 million series 2021 annual appropriation revenue bonds (Enterprise Center project), backed by contractual payments of the state of Missouri. The outlook is stable. Pursuant to the terms of the bond indenture and tourism infrastructure facilities financing agreement authorized by state statute, a state funding amount requested by the authority (LCRA) from the state in an amount equal to the lesser of the tax revenues derived directly or indirectly by the state from the project in the preceding fiscal year, or $1.975 million, secures the series 2021 bonds. The state funding amount is subject to annual appropriation by the Missouri legislature, and contingent on

...S&P Global Ratings assigned its '##-' long-term rating to Land Clearance for Redevelopment Authority (LCRA), Mo.'s $29.030 million series 2021 annual appropriation revenue bonds (Enterprise Center project), backed by contractual payments of the state of Missouri. The outlook is stable. Pursuant to the terms of the bond indenture and tourism infrastructure facilities financing agreement authorized by state statute, a state funding amount requested by the authority (LCRA) from the state in an amount equal to the lesser of the tax revenues derived directly or indirectly by the state from the project in the preceding fiscal year, or $1.975 million, secures the series 2021 bonds. The state funding amount is subject to annual appropriation by the Missouri legislature, and contingent on the requirement for the LCRA to provide a detailed itemization of all expenses paid and incurred and the net fiscal benefit (i.e. the tax revenues derived directly or indirectly from the project) in the preceding...

Summary