Temple, Texas' bonds are special obligations of the city payable from the pledged tax increments levied upon the total appraised value of the property located within the zone. The rating reflects: A stable, though concentrated base of incremental assessed valuation, Healthy historical coverage levels, and A pay-as-you-go capital plan. The zone, 1,943 acres in northwest Temple, contains industrial and manufacturing facilities and is 1.5 miles from the central business district. The district's captured AV of $56.1 million is largely industrial and concentrated, with the five largest taxpayers accounting for almost half (44%) of the total value. Fiscal year revenues of $1.54 million provided debt service coverage of 2.84 times (x). Fiscal year-end 1998 posted a fund balance of $2.85 million.
