PubFinCriteria_2006_part1_final1.qxp
debt service to the paying agent and direct the state to later withhold district state aid to repay the Permanent Fund. Standard ...
trustees or a university system’s board of regents must file a claim in the amount of the next debt service pay- ment with the s ...
timely payment of principal and interest on the dis- trict’s bonds. Local school district debt guaranteed by the state under the ...
ciency in the state sinking fund because of a school district or governmental unit’s failure to meet its debt service obligation ...
appropriations by the issuer. Because lease or service contract payments are not binding on future legisla- tures or councils, a ...
and the rating assignment will be determined by the credit characteristics of the pledged revenue source, not the appropriation ...
difficult because the government usually has no eventual equity interest in the facility. Ownership of the building being leased ...
Federal Leases ................................................................................................................. ...
sure. A securitization can receive an investment- grade rating even if the term of the lease is not equal to the debt maturity. ...
is important to make sure that government lease payments will match debt service due dates. Most federal leases are structured w ...
■The financed facilities should be owned by a single- purpose, bankruptcy-remote entity. The facilities may than be leased back ...
Moral Obligation Bonds .................................................................................................. http:/ ...
ing. If a properly structured moral obligation default- ed, despite clear original legislative support, the state’s willingness ...
S tandard & Poor’s Ratings Services rates water- sewer revenue debt issued by stand-alone authorities or special districts w ...
Individual examination is given to audited finan- cial results, including debt factors, accounts receiv- able, liquidity, and ne ...
Lastly, Standard & Poor’s studies the utility’s capi- tal improvement plan to determine what affect it will have on system o ...
for necessary expansions. Standard & Poor’s ana- lyzes the following factors for water systems: ■The water system’s source a ...
also reviewed. Holding rate levels constant for mul- tiple years does not benefit ratepayers if inflation- ary increases in oper ...
Poor’s view that operation and maintenance expens- es must be paid in order for a system to be a viable, ongoing concern that wi ...
debt service payments and system maintenance. Frequency of payments to the debt service fund range from monthly to semiannual tr ...
«
1
2
3
4
5
6
7
8
9
10
»
Free download pdf