County of Buncombe, NC – G.O. and Appropriation Rating Report

Rating Summary

The rating on the General Obligation Bonds (“GO Bonds”) reflects the County of Buncombe’s (“the County’s”) unlimited, ad valorem tax, general obligation pledge; robust financial policies, processes, and procedures that have historically supported large, consistent reserves; a favorable debt and additional continuing obligations profile characterized by modest leverage, well-funded pensions, and low fixed costs; and a sizable and growing underlying tax base underpinned by sound socioeconomic characteristics. KBRA additionally views the North Carolina Local Government Commission (“LGC”) systematic oversight of local government finances and borrowing activity as supportive of the rating level.

GO Bonds are secured solely by the County’s full faith and credit pledge. The County is authorized and required by law to levy ad valorem taxes on all property taxable by the County, without limitation as to rate or amount. Proceeds of the currently offered GO Bonds will be used to…