Summary: Temple Independent School District, Texas; School State Program

S&P Global Ratings assigned its 'AA-' underlying rating and 'AAA' long-term rating to Temple Independent School District (ISD), Texas' anticipated $98.5 million series 2022 unlimited-tax school building bonds. At the same time, S&P Global Ratings affirmed its 'AA-' underlying rating on the district's general obligation (GO) bonds outstanding. The outlook is stable. The 'AAA' long-term rating reflects our view of the district's eligibility for, and participation in, the Texas Permanent School Fund (PSF) bond guarantee program, which provides the security of a permanent fund of assets the district can use to meet debt service on bonds guaranteed by the program. (For more information, see "Texas Permanent School Fund," published June 25, 2021, on RatingsDirect.) An unlimited ad valorem tax on

...S&P Global Ratings assigned its '##-' underlying rating and '###' long-term rating to Temple Independent School District (ISD), Texas' anticipated $98.5 million series 2022 unlimited-tax school building bonds. At the same time, S&P Global Ratings affirmed its '##-' underlying rating on the district's general obligation (GO) bonds outstanding. The outlook is stable. The '###' long-term rating reflects our view of the district's eligibility for, and participation in, the Texas Permanent School Fund (PSF) bond guarantee program, which provides the security of a permanent fund of assets the district can use to meet debt service on bonds guaranteed by the program. (For more information, see "Texas Permanent School Fund," published June 25, 2021, on RatingsDirect.) An unlimited ad valorem tax on all taxable property within the district secures the bonds. Bond proceeds will be used for the construction of a new elementary school, expansion of three existing schools, addition of security vestibules...

Summary