Copperas Cove is bringing two tranches of general obligation debt to market today. The town’s GO debt is rated A-plus by Standard & Poor’s.
The Central Texas town plans to offer about $4.8 million of GO bonds and $2.5 million of limited tax notes in the competitive market today.
Analysts said the rating reflects a growing and gradually diversifying economic base, steady property-tax base growth, and “historically very strong financial position.”
The town’s taxable-assessed value averaged 8.5% annual growth to $1.1 billion for fiscal 2009, which is up from $641 million in 2002.
Specialized Public Finance Inc. is the financial adviser to the town of 32,500, which is just south of Fort Hood, the largest military base in the country home to nearly 40,000 military personnel and roughly 15,000 civilian personnel, according to analysts.
