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Summary: Tustin Pub Fing Auth, CA; Revenue - Transportation, Miscellaneous Tax Revenue Product Image

Summary: Tustin Pub Fing Auth, CA; Revenue - Transportation, Miscellaneous Tax Revenue

  • ID: 1785243
  • December 1999
  • Standard & Poors

Abstract
The Standard & Poor's underlying rating (SPUR) on Tustin Public Finance Authority, Calif.'s bonds reflects weak debt service coverage and a low value-to-lien ratio. These weaknesses are offset by: Good access to the Orange County and Los Angeles County employment bases, The large size of the district, and Adequate additional bonding provisions. The bonds are payable from a special tax levied within Reassessment District 95-1 and are secured by a first lien on debt service payments made by the district to the authority. The 95-1district covers almost 3,000 acres and was formed from the combination of two prior assessment districts. The district is largely residential and more than 90% developed. Land uses include mostly single-family and multifamily residential development, along...

Companies mentioned in this report are: Tustin Pub Fing Auth
Action: Affirmed

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