Debt Obligations

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  • HCDE 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 percent to 5.75 percent.
  • 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

Lease Bond Repayment Requirements                      
Total Debt Service - All Depts (8/31/19)
2014 Series - PFC Revenue Bonds

2015 Series - PFC Revenue Bonds
2016 Series - PFC Revenue Bonds
Maintenance Tax - QZAB 2009A Series

HB 1378 ANNUAL DEBT REPORT

2019 HB 1378
2018 HB 1378
2017 HB 1378
2016 HB 1378

 

 

 

 

 

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

2020 CAPITAL IMPROVEMENT PROGRAM (CIP)

Planning

June 22, 2020 Presentation of CIP
August 3, 2020 Special Meeting
August 3, 2020 CIP Update
Approval of PFC Bond Notice

PFC Financing and Maintenance Notes Financing

Moody's Rating Presentation - 2020

Procurement (Request for Qualifications)

Program Manager
Architect Pool
Engineer Pool

Design Development

Procurement (Construction)

Construction Status

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
August 31, 2017
August 31, 2019

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

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