PubFinCriteria_2006_part1_final1.qxp

G O bonds generally are regarded as the broadest security among tax-secured debt instruments. GO bonds effectively create a link ...

key role in economic development. The infrastruc- ture of an area, including the road network, utility systems, and transportati ...

Accepted Accounting Principles (GAAP), Standard & Poor’s assesses an entity’s financial reports. Emphasis is placed on the g ...

changing. Increases in net assets may indicate an improved overall financial position while decreases in net assets may reflect ...

■Debt to market value, which measures overall debt to all taxable property within the govern- ment’s jurisdiction; ■Debt per cap ...

the Financial management Assessment (FMA). The FMA attempts to provide a transparent assessment of a government’s financial prac ...

schools, and in turn placed significant pressure on state budgets. Conversely shifting responsibilities to local government unit ...

With this aggregation of direct debt, Standard & Poor’s measures the full burden of debt on the pop- ulation in relation to ...

Standard & Poor’s will also ask the issuer to report another important measure of the debt burden on the issuer’s operations ...

However, swaps expose issuers to counterparty credit risk, termination risk, basis risk, rollover risk, and for many housing bon ...

million in tax increment financing bonds and $27 million in capital leases. Of the $253 million gener- al obligation debt, the c ...

is dedicated only to capital funding or when capital needs are large. Debt service reserves also take on less importance in case ...

In general, projections of sales tax or special tax revenues tend to be imprecise and depend on a number of assumptions about su ...

Additional bonds tests regarding subordinate lien debt would ideally be calculated using historical sales tax revenue, divided b ...

coverage increase during inflationary periods even if the source of the revenue stream exhibits no real growth. Highway User Tax ...

Non Ad Valorem Bonds...................................................................................................... http: ...

sales tax bond issue), as well as a comprehensive assessment of all bonds or other obligations out- standing that may have a dir ...

Lottery Management Standard & Poor’s Ratings Services appraisal of management focuses primarily on industry expert- ise, exp ...

Tax Increment Bonds T ax increment financing, sometimes called tax allocation bonds, has been issued in a majority of states, al ...

top taxpayers to project area incremental value— not project area total value—because revenues rise or fall based on incremental ...