Summary: Temple, Texas; General Obligation

S&P Global Ratings assigned its 'AA' long-term rating to the City of Temple, Texas' approximately $64 million series 2024 combination tax and revenue certificates of obligation (COs). At the same time, S&P Global Ratings affirmed its 'AA' rating on the city's existing general obligation (GO) debt. 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, not to exceed $10,000, derived from the combined waterworks and sewer system additionally secures the certificates. Due to the revenue pledge's limited nature, we rate the

...Most recent Historical information 2023 2022 2021 Strong economy Projected per capita EBI % of U.S. 83.4 Market value per capita ($) 123,512 Population 78,814 76,917 County unemployment rate(%) 4.4 Market value ($000) 9,734,501 8,240,419 6,696,361 Ten largest taxpayers % of taxable value 11.1 Strong budgetary performance Operating fund result % of expenditures 4.2 6.0 7.4 Total governmental fund result % of expenditures 5.1 7.2 7.2 Very strong budgetary flexibility Available reserves % of operating expenditures 45.2 47.4 46.8 Total available reserves ($000) 47,173 43,411 38,336 Very strong liquidity Total government cash % of governmental fund expenditures 50.3 53.6 52.5 Total government cash % of governmental fund debt service 275.7 288.9 272.2 Very strong management Financial Management Assessment Strong Very weak debt and long-term liabilities Debt service % of governmental fund expenditures 18.2 18.6 19.3 Net direct debt % of governmental fund revenue 305.7 Overall net debt % of market...

Summary