Summary: Taylor School District, Michigan; School State Program

S&P Global Ratings assigned its 'AA' long-term rating and 'A' underlying rating to Taylor School District, Mich.'s 2022 school building and site bonds, with a preliminary par amount of $31.855 million. The outlook is stable. The 2022 bonds are secured by the district's full faith and credit, including its ability to levy ad valorem property taxes without limitation as to rate or amount, as approved by voters on Nov. 2, 2021. The bond proceeds will finance a new high school building as well as various technology, building, and furnishing upgrades to district facilities. The 'AA' long-term rating reflects our view of the district's participation in the Michigan State School Bond Loan Program. Section 16 of Article 9 of Michigan's 1963

...S&P Global Ratings assigned its '##' long-term rating and 'A' underlying rating to Taylor School District, Mich.'s 2022 school building and site bonds, with a preliminary par amount of $31.855 million. The outlook is stable. The 2022 bonds are secured by the district's full faith and credit, including its ability to levy ad valorem property taxes without limitation as to rate or amount, as approved by voters on Nov. 2, 2021. The bond proceeds will finance a new high school building as well as various technology, building, and furnishing upgrades to district facilities. The '##' long-term rating reflects our view of the district's participation in the Michigan State School Bond Loan Program. Section 16 of Article 9 of Michigan's 1963 Constitution created the program to provide districts access to funds to meet debt service payments on qualified debt. Under the program, if a school district's property tax levy is insufficient to make debt service obligations on qualified debt, it can borrow...

Summary