Summary: Temple, Texas; General Obligation

S&P Global Ratings assigned its 'AA' long-term rating to Temple, Texas' approximately $3 million series 2023 limited tax notes. The outlook is stable. The notes and bonds outstanding are a direct obligation 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. A limited pledge of the net revenue derived from the combined waterworks and sewer system additionally secures the existing certificates. Due to the revenue pledge's limited nature, we rate the certificates based on the city's ad valorem pledge. The maximum allowable ad valorem tax rate for municipalities that operate under a home-rule charter in Texas is $2.50 per $100 of

...Most recent Historical information 2022 2021 2020 Strong budgetary performance Operating fund result % of expenditures 6.0 7.4 5.5 Total governmental fund result % of expenditures 7.2 7.2 3.5 Very strong budgetary flexibility Available reserves % of operating expenditures 47.4 46.8 42.0 Total available reserves ($000) 43,411 38,336 32,430 Very strong liquidity Total government cash % of governmental fund expenditures 53.6 52.5 40.8 Total government cash % of governmental fund debt service 288.9 272.2 212.1 Very strong management Financial Management Assessment Strong Very weak debt & long-term liabilities Debt service % of governmental fund expenditures 18.6 19.3 19.3 Net direct debt % of governmental fund revenue 320.0 Overall net debt % of market value 11.6 Direct debt 10-year amortization (%) 53.0 Required pension contribution % of governmental fund expenditures 7.7 OPEB actual contribution % of governmental fund expenditures 0.2 Strong institutional framework Data points and ratios...

Summary