Summary: Lubbock Indpt Sch Dist, TX; Tax Secured, General Obligation; Tax Secured, School State Program Jun 02
- ID: 2084544
- June 2002
- Standard & Poors
The 'AAA' rating on Lubbock Independent School District, Texas' unlimited-tax school building bonds is based on the Texas Permanent School Fund guarantee. The 'AA' Standard & Poor's underlying rating (SPUR) reflects the district's full faith and credit GO pledge and is based on the ad valorem tax levied on all taxable property in the school district. The SPUR reflects the district's: Diverse local economy, Stable enrollment, Sound financial position with strong reserves, and Low overall net debt burden with limited future capital plans. Offsetting factors include the district's: Current tax rate at the state cap of $1.50 per $100 of assessed value (AV), levied for operations and maintenance (O&M) expenditures, which limits future revenue-raising flexibility; and Slightly below-average wealth and...
Companies mentioned in this report are:
- Lubbock Indpt Sch Dist
- Texas Perm Sch Fd
Action: New Rating
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