Oregon School Boards Assn.; Tax Secured, General Obligation Oct 02
- ID: 1795341
- October 2002
- Region: Oregon
- Standard & Poors
The 'AA-' rating on Oregon School Boards Assn.'s limited-tax pension obligations is based on an intercept agreement between the participating school and education service districts and the Oregon Department of Education and reflects: The security of state education revenues pledged for payment of debt service; A solid legal structure; and Strong coverage of debt service by pledged revenues. The series 2002 pension obligations are being issued to finance all or a portion of the estimated unfunded actuarial liability of 41 participating school districts and education service districts with the Oregon Public Employees Retirement System. The pension obligations represent proportionate interest in payments of principal and interest on pension bonds issued by the districts to be paid through the intercept agreement...
Companies mentioned in this report are: Oregon Sch Brds Assn
Action: New Rating
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