Fitch Rates Johnson County, Texas' $10MM GO Rfdg Bonds 'A+'; Outlook Stable.AUSTIN, Texas -- Fitch assigns an 'A+' rating to Johnson County Johnson County is the name of several counties in the United States:
Depending on the jurisdiction, the division uses different broker dealer subsidiaries of RBC:
The bonds are direct obligations of the county, payable from and secured by an ad valorem tax Ad Valorem Tax A tax based on the assessed value of real estate or personal property. In other words ad valorem taxes can be property tax or even duty on imported items. Property ad valorem taxes are the major source of revenues for state and municipal governments. levied against all taxable property within the county, limited by law to $0.80 per $100 of taxable assessed valuation (TAV). Proceeds will be used to refund a portion of the county's outstanding debt and pay costs of issuance. The 'A+' rating reflects the county's strong financial position with substantial reserves, steady tax base growth, and low direct debt burden. The rating also reflects expected, ongoing population growth that may pressure operations and the potential for future oil & gas concentration in the tax base. Current financial performance, however, suggests the county will be able to maintain its favorable financial profile. Johnson County is located in north central Texas, approximately 29 miles south of downtown Fort Worth. The county contains the city of Cleburne, (estimated 2005 population of 29,184) which is the county seat and a principal commercial center. Encompassing 740 square miles, Johnson County includes the smaller cities of Alvarado, Burleson, Joshua, Keene, and Venus as well. Affordable land along major highways that cross the county's boundaries and provide easy access to the nearby Dallas-Fort Worth metro area This article is about the music production team. For the article about population centers, see metropolitan area. Metro Area are a Brooklyn-based dance music production team composed of Morgan Geist and Darshan Jesrani. has attracted significant residential development as well as a diverse local manufacturing/distribution employment base. This development trend is expected to continue given ongoing and planned residential projects and aggressive economic development efforts by local officials. However, despite recent development, Johnson County is still a primarily rural county, with only one-third of the available land currently built out. The tax base composition, which has historically been 50% residential, has a slightly higher oil & gas concentration due to discovery of the county's location in the Barnett Shale The Barnett Shale is a geological formation of economic significance. It consists of sedimentary rocks of Mississippian age in the U.S. State of Texas. The formation is estimated to stretch from the city of Dallas to west of the city of Fort Worth and south, covering 5,000 square , one of the United States' largest natural gas fields This list of natural gas fields includes major fields of the past and present. N.B. Some of the items listed are basins or projects that comprise many fields (e.g. Sakhalin has three fields: Chayvo, Odoptu, and Arkutun-Dagi). . New mineral properties along with higher natural gas valuations have contribute to the county's steady 11.5% TAV growth annually over the past five fiscal years and the 17% gain in TAV from fiscal 2006 to 2007. While general fund unreserved/undesignated fund balances have remained healthy since fiscal 1999, the county's financial performance has been even stronger since fiscal 2003, with reserves climbing from 9.5% of expenditures, transfers out, and other uses in fiscal 2003 to $5.4 million or 24% in fiscal 2005. Unaudited fiscal 2006 results point to addition of roughly $1 million to the general fund balance, which betters previously stated expectations. The fiscal 2007 budget is expected to produce level results. Including the current offering, the county's direct debt burden stands at 0.4% of TAV and $161 per capita [Latin, By the heads or polls.] A term used in the Descent and Distribution of the estate of one who dies without a will. It means to share and share alike according to the number of individuals. . The overall debt burden remains a moderate 4% of TAV and $1,791 per capita once state support on local school district debt is factored in. Prior long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. issuance has been primarily for jail expansion and historic courthouse renovations with short-term tax anticipation notes Tax Anticipation Notes (Tans) Notes issued by states or municipalities to finance current operations in anticipation of future tax receipts. (TANs) utilized approximately every two years for the purchase of capital equipment and maintenance needs. The current offering will be used to refund certain outstanding obligations and generate a net $430,000 present value savings for the county. Current plans do not include the issuance of additional debt within the next fiscal year. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. 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