...S&P Global Ratings assigned its '##' rating to the City of Temple, Texas' $21.95 million series 2020 combination tax and revenue certificates of obligation bonds, $2.95 million series 2020 limited-tax notes, and series 2020 general obligation (GO) refunding bonds. At the same time, S&P Global Ratings affirmed its ratings on Temple's existing certificates and GO bonds. The outlook is stable. Temple's GO bonds, certificates of obligation and limited-tax notes constitute direct obligations of the city, payable from the proceeds of a continuing, direct annual ad valorem tax, within the limits prescribed by law, on all taxable property within its borders. The maximum allowable ad valorem tax rate for municipalities that operate under a Home Rule Charter in Texas is $2.50 per $100 of assessed value (AV) for all purposes, with the portion dedicated to debt service limited to $1.20. The city's total tax rate is well below the maximum, at 67.27 cents, 36.30 cents of which is dedicated to debt service....
