The long-term rating reflects the City of Winchester’s (the “City’s”) history of positive operating performance and strong financial reserves, which are expected to remain robust given its conservative financial management policies. The rating further reflects manageable fixed costs relative to the tax base and a rapidly amortizing debt profile. Offsetting these strengths are somewhat modest income and wealth levels, as well as a relatively small population base.
General Obligation (G.O.). Bonds are general obligations of the City backed by its full faith and credit pledge. The Common Council of the City is authorized and required to levy and collect an annual ad valorem tax on all locally taxable property in the City, over and above all other taxes authorized or limited by law and without limitation as to rate or amount, sufficient to pay principal and interest on G.O. Bonds.
The City is located in the Northern Shenandoah Valley region along Interstate 81 in northern…
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