Debt Information

Texas Comptroller Leadership Circle Platinum AwardHCDE has a blended component unit, the Harris County Department of Education Public Facility Corporation (PFC Capital Projects Fund) for which it is financially accountable.

Debt service requirements of general obligation bonds are payable solely from future revenues consisting of school contracts. 

HCDE has never defaulted on any bond principal or interest payment. Effective interest rates range from 3.50% to 5.75%. There are a number of limitations and restrictions contained in the bond indenture. Management has indicated that HCDE is in compliance with all significant limitations and restrictions.

HCDE does not have a debt service rate. HCDE has a maximum maintenance tax rate of $0.01 and the current tax rates are available on the Tax Transparency webpage.

 

Debt Obligations                                                               HB 1378 Annual Debt Report

Lease Bond Repayment Requirements                                     2016 HB 1378
Total Debt
2016 Lease Revenue Bonds
2015 Lease Revenue Bonds
2014 Lease Revenue Bonds
2009 QZAB Bonds
2009 Maintenance Bonds
PFC Meeting Agendas

Ratings

Moody's Bond Rating June 2014
Standard and Poor's Bond Rating March 2014
Standard and Poor's Review 2011
Standard and Poor's Review 2007

SEC Filings - PFC
PFC Rule 15c2-12 Continuing Disclosure Filing-Fiscal Year Ended:

August 31, 2011
August 31, 2012
August 31, 2013
August 31, 2014

PFC Projects

Public Facility Corporation Bonds

SEC Filings - General Obligation
General Operations Debt Rule 15c2-12 Continuing Disclosure Filing-Fiscal Year Ended:

August 31, 2011
August 31, 2012
August 31, 2013
August 31, 2014

Debt Transparency

Debt Transparency Pledge - Jan. 2015
Tax Supported/Revenue Supported per Capita (Chart 1)
Inflation Adjusted Debt per Capita (Chart 2)

Other Disclosure:

After January 2015, the PFC is not subject to a continuing disclosure undertaking pursuant to USSEC Rule 15c2-12 with respect to any of its outstanding indebtedness.

Links:

Texas Comptroller (Debt at a Glance)
HCDE Elected Officials
HCDE Historical Tax Rates and Property Values
HCDE Budget and Tax Data