Underpinning the county's 'AA' IDR and the limited and unlimited tax bond
ratings, is modest revenue volatility and superior gap-closing capacity that should preserve the county's high level of financial resilience throughout a typical economic cycle.
The 'AA-' IDR and unlimited tax bond
rating are based on the district's strong operating performance, supported by robust revenue growth prospects, solid expenditure flexibility, and modest revenue volatility.
The unlimited tax bonds
are payable from an unlimited annual property tax levy.
Orr also said he considers about $641 million of general obligation debt, including $410 million of unlimited tax bonds
, to be unsecured.
Specifically, the move affected Columbus's USD3.4m Various Purpose Unlimited Tax Bonds
, Series 2010-3C and USD5.85m Various Purpose Limited Tax Bonds, Series 2010-3D.
Securities and Exchange Commission, assigned a 'AAA' rating to the following Round Rock Independent School District, Texas unlimited tax bonds
(ULTs): --$59.7 million unlimited tax refunding bonds series 2018.
--25 million various purpose unlimited tax bonds
, series 2018C (federally taxable);
Securities and Exchange Commission, affirmed the following ratings for Presidio ISD, Texas at 'AA-: --Issuer Default Rating (IDR); and --Approximately $3.5 million unlimited tax bonds