Fitch Upgrades Burleson, TX Sales Tax Rev Bonds to 'A'.Business Editors NEW YORK--(BUSINESS WIRE)--May 27, 2004 Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. upgrades the City of Burleson, Texas Burleson is a city located partially in Johnson County and partially in Tarrant County in Texas. It is considered a suburb of Fort Worth and is located in the rapidly growing suburban expanse just south of the City. As of the 2006, the population was 30,300, up from 20,976 in 2000. Economic Development Corporation's outstanding $5.305 million in sales tax sales tax, levy on the sale of goods or services, generally calculated as a percentage of the selling price, and sometimes called a purchase tax. It is usually collected in the form of an extra charge by the retailer, who remits the tax to the government. revenue bonds and the Burleson, Texas Community Service Development Corporation's $9.255 million outstanding sales tax revenue bonds to 'A' from 'A-'. The Rating Outlook is Stable. The upgrade of Burleson's sales tax debt to 'A' from 'A-' is based on the city's continued strong financial performance and declining debt ratios despite rapid growth pressures. Benefiting from its proximity and easy access to Fort Worth, the city's tax base and sales tax collections have increased dramatically over the last several years as new residential and commercial development has occurred. For more information, please refer to the Fitch fitch: see polecat. research dated April 19, 2004 entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: 'Fitch Rates $6.9MM Burleson, TX GOs 'A+'; Upgrades Outstanding GOs to 'A+'. |
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