...S&P Global Ratings has assigned its '###' long-term rating to Williamson County, Texas' $175 million series 2021 limited-tax refunding (taxable) bonds and $12.5 million limited-tax refunding bonds. At the same time, we affirmed our '###' long-term rating and underlying rating on the county's previously issued general obligation (GO) debt. The outlook on all ratings is stable. The bonds constitute direct obligations of the county payable from the levy and collection of a direct and continuing ad valorem tax levied, within the limits prescribed by law, on all taxable property located within the county. Texas statutes limit the maximum ad valorem tax rate for counties to 80 cents per $100 of taxable assessed valuation (AV) for all county purposes. Administratively, the Texas attorney general will permit the allocation of 40 cents of the maximum tax rate for ad valorem tax debt service. Despite the limitations imposed by the state levy limit law, we did not make a rating distinction for the...
