Summary: Temple, Texas; Tax Increment

S&P Global Ratings assigned its 'BB+' rating to Temple Reinvestment Zone (TIRZ) No. 1, Texas' series 2018A tax-increment revenue bonds and series 2018B taxable tax-increment revenue bonds. The outlook is stable. The City of Temple has pledged the property tax increments within reinvestment zone No. 1 to payment of the tax-increment revenue bonds. Temple, Bell County, Bell County Road District, Temple College, Elm Creek Watershed Tax District, Temple Independent School District (ISD), Belton ISD, and Troy ISD all participate in the reinvestment zone. Proceeds from the 2018A bonds will pay for costs relating to road, drainage, utility, landscaping, and traffic safety improvements within the reinvestment zone or where they benefit it. Proceeds from the series 2018B bonds will fund construction

...S&P Global Ratings assigned its '##+' rating to Temple Reinvestment Zone (TIRZ) No. 1, Texas' series 2018A tax-increment revenue bonds and series 2018B taxable tax-increment revenue bonds. The outlook is stable. The City of Temple has pledged the property tax increments within reinvestment zone No. 1 to payment of the tax-increment revenue bonds. Temple, Bell County, Bell County Road District, Temple College, Elm Creek Watershed Tax District, Temple Independent School District (ISD), Belton ISD, and Troy ISD all participate in the reinvestment zone. Proceeds from the 2018A bonds will pay for costs relating to road, drainage, utility, landscaping, and traffic safety improvements within the reinvestment zone or where they benefit it. Proceeds from the series 2018B bonds will fund construction of a multi-story parking garage. The rating reflects our view of the TIRZ's: + Historically strong growth in property values; + Very strong maximum annual debt service (MADS) coverage at 14.9x for fiscal...

Summary