S&P Global Ratings assigned its 'AA' long-term rating to the City of Temple, Texas' approximately $3.2 million series 2024 limited tax notes. The outlook is stable. The notes 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. 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 $1.50. However, the city's home-rule charter limits its tax rate to $1.20 for all purposes, including for debt service. Temple's fiscal 2024 total
