Hazelwood School District, Missouri; Appropriation, Appropriation; Tax Secured, School State Program May 03

Standard & Poors, May 2003

Abstract
The 'A+' lease rating on Hazelwood School District, Mo.'s $9.56 million series 2003 Certificates of Participation reflects the appropriation risk associated with a lease purchase agreement and rental payments derived from a guaranteed energy savings contract initiated between the District and Excelon Services, as well as the general creditworthiness of the district. As a matter of Missouri state law, school districts are generally restricted from transferring money from teachers' or incidental funds (general instructional operating funds) to the capital projects' fund for payment of lease obligations. One exception is that a transfer of this type is allowed to repay the costs of "guaranteed energy savings performance" contracts. The district does not plan to institute a levy for lease payments because...

Companies mentioned in this report are: Hazelwood Sch Dist
Action: New Rating

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Full Analysis

Hazelwood Sch Dist

Customers who bought this item also bought

• Designing for Education: Compendium of Exemplary Educational Facilities 2011
• Library Use of eBooks, 2012 Edition
• Linking Leadership to Student Learning
• Charter Schools - Global Outlook
• The Course Crafters Guide to the English Language Learner (ELL) Market 2011–2012, K–12
• Making a Collection Count: A Holistic Approach to Library Collection Management
• Government Investment Pools Report
• College Information Literacy Efforts Benchmarks
• Survey of Public Library Efforts to Provide Job Information Resources
• Government Guarantees - In Focus