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Summary: Portage, MI; Tax Secured, Non-School State Programs

Published Dec 03, 2001

684 words — Published Dec 03, 2001

Price US$ 225.00 | Buy this Report Now

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Abstract:

The 'AA' rating on Portage, Mich.'s bonds reflects: Coverage of 1.40 times (x) maximum annual debt service by prior year receipts, Solid growth in the pledged revenue stream, and Strong economic performance in Michigan (AAA GO). The bonds are secured by a first-lien pledge of 50% of the annual gas and weight taxes received from the state according to state law Act 51, Public Acts of Michigan. Michigan's economic performance is demonstrated by: Good income growth, Some diversification of the employment base, and A trend of unemployment rates that are below the national average despite labor force increases. The distribution formula in Act 51 provides that all monies deposited in the transportation fund, after deduction of certain specified amounts, be

Brief Excerpt:

RESEARCH Summary: Portage, MI; Tax Secured, Non-School State Programs Publication date: 03-Dec-2001 Credit Profile $3.2 mil muni debt muni issue ser 2001 due 2021 ## Sale date: 11-DEC-2001 AFFIRMED $10.825 mil. Portage (Michigan Transp...

Report Type:

Summary

Issuer

Portage

Sector

Public Finance

Country

United States

Region

United States

Format:

HTML

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MLA:	S&P Global Ratings’ Credit Research. "Summary: Portage, MI; Tax Secured, Non-School State Programs" Dec 03, 2001. Alacra Store. May 05, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Portage-MI-Tax-Secured-Non-School-State-Programs-221802>

APA:	S&P Global Ratings’ Credit Research. (). Summary: Portage, MI; Tax Secured, Non-School State Programs Dec 03, 2001. New York, NY: Alacra Store. Retrieved May 05, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Portage-MI-Tax-Secured-Non-School-State-Programs-221802>

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