LTGOLimited Tax General Obligation
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SIGNIFICANT REVENUE RAISING FLEXIBILITY: There is no rating distinction between the ULTGO and LTGO ratings based primarily on the adequate revenue raising flexibility under the township's maximum operating limit.
ULTGO AND LTGO RATINGS ON PAR: The limited and unlimited tax bonds are rated on parity as currently there are no practical differences in the district's legal ability to collect sufficient taxes to pay debt service.
Bond proceeds will refund all or portions of the outstanding LTGO bonds and pay the costs of issuance.
LTGO RATING ON PAR WITH IMPLIED ULTGO: The LTGO bonds are rated on par with the implied ULTGO rating on the basis of the city's solid general fund reserves and general budgetary flexibility.
615 million LTGO sanitary sewer special assessment bonds series 2001 at 'AA-';
IDENTICAL ULTGO AND LTGO RATINGS: Fitch currently does not distinguish between the county's ULTGO and LTGO ratings due to the county's strong financial flexibility.
LTGO RATING ON PAR WITH IMPLIED ULTGO RATING: The LTGO bonds are rated on par with the implied ULTGO rating due to the strength of the county's reserves and implied financial flexibility.
The LTGO building authority bonds are secured by cash rentals under the lease between the authority and the city.
8 million LTGO downtown development bonds, series 2008 at `AA';
The LTGO bonds are secured by the city's full faith and credit general obligation and its ad valorem tax pledge, subject to applicable charter, statutory and constitutional limitations.
However, these increases have been insufficient to allow the w/s fund to fully support LTGO bonds, as was intended.
This amortization schedule likely will be accelerated as the city plans to fully defease its LTGO bonds, series 2003A ($3.