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Summary: Pike County R-III School District, Missouri; School State Program

Description:
Abstract
The rating on Pike County R-III School District, Mo.'s bonds reflects the school district's eligibility for and participation in the Missouri Direct Deposit of State Aid Program, in which the state makes direct deposits of portions of monthly state aid payments to a bond trustee. The program, which enhances local school district general obligation (GO) bonds, provides for a first-dollar claim on monthly state aid, which will be directly deposited to a master bond trustee. State aid covers maximum annual program debt service at least 1.5x. The district has entered into an irrevocable direct deposit agreement with the state treasurer, department of elementary and secondary education, health and educational facilities authority, and deposit trustee. The direct deposit agreement provides that

Article Type:SUMMARY
Companies mentioned in this report are: Pike Cnty R-III Sch Dist
Action: Affirmed
Action: New Rating

 
Companies Mentioned
Pike Cnty R-III Sch Dist
 
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Summary: Pike County R-III School District, Missouri; School State Program

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