The long-term rating assigned to the Sulphur Springs Independent School District (the “District”) reflects the unlimited nature of the District’s ad valorem property tax pledge, in conjunction with its sound reserves and growing tax base. These strengths are balanced by a moderate concentration in the tax base, and a trend of gradually declining enrollment which pressures the enrollment-based formula funding that comprises the majority of the District’s operating resources.
Proceeds of the currently offered Unlimited Tax School Building Bonds (the “Bonds”) will be used to provide funds for the construction, acquisition, expansion, equipping and the purchase of sites for District school buildings; to fund capitalized interest; and to pay the costs of issuance. The Bonds are being issuance pursuant a voter authorization approved on May 4, 2024.
The Bonds are obligations of the District, payable from a direct and continuing pledge of ad valorem taxes levied on all taxable…
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