Bastrop County, TX

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Debt Obligation

Bastrop County currently holds a bond rating of AA+ with S&P Global Ratings and an Aa1 with Moody’s Investor’s Service. In 2023 the County issued $9,500,000 in Combination Tax and Revenue Certificates of Obligation, series 2023. The bonds have interest rates ranging from 4% to 5%. The certificates will be used for (1) construction and equipping of a County’s building on County purchase land in Bastrop, Texas; (2) technology and communication upgrades; (3) construction and improvement of County roads and bridges; (4) acquisition of road maintenance equipment; (5) County building upgrades; (6) payment for professional services relating to the design, construction, project management, and financing of the aforementioned projects. The total outstanding debt as of September 30, 2023 is $46,618,000. All tables include information up to Bastrop County’s last audited fiscal year. Audits are published every April for the previous fiscal year ending September 30th.

Total Tax-Supported Debt Obligations
2014	2015	2016	2017	2018	2019	2020	2021	2022	2023
$4,453,187	$4,514,477	$4,583,293	$3,885,671	$4,667,518	$5,675,993	$5,299,172	$5,639,221	$5,319,377	$5,853,497

Tax-Supported Debt is supported by Ad Valorem taxes levied within the issuer’s boundaries. Bastrop County currently only issues Certificates of Obligation.

Debt Per Capita is a measure of how much debt a government has per citizen. It is calculated by adding short-term debt and long term debt, and then dividing by the population. This metric is used as an aid for visualization of the total level of government debt.

Total Outstanding Debt as of September 30th of Each Year

Tax Supported Debt	Original Debt Amount	2016	2017	2018	2019	2020	2021	2022	2023
2009 Limited Tax Refunding Bonds	3,830,000	1,335,000	910,000	465,000	-	-	-	-	-
2010 Combination Tax and Revenue Certificates of Obligation	10,810,000	8,350,000	7,885,000	7,405,000	6,910,000	6,400,000	-	-	-
2012 Limited Tax Refunding Bonds	6,425,000	4,330,000	3,765,000	3,190,000	2,595,000	1,980,000	1,345,000	685,000	-
2013 Limited Tax Refunding Bonds	9,120,000	8,155,000	7,795,000	6,865,000	5,910,000	4,925,000	3,910,000	2,860,000	1,780,000
2014 Combination Tax and Revenue Certificates of Obligation	9,335,000	8,835,000	8,735,000	8,535,000	8,185,000	7,750,000	7,300,000	6,835,000	6,355,000
2015 Limited Tax Refunding Bonds	4,715,000	4,175,000	3,375,000	3,085,000	2,780,000	2,455,000	2,105,000	1,730,000	1,335,000
2017 Combination Tax and Revenue Certificates of Obligation	9,290,000	-	9,290,000	9,290,00	8,895,000	8,485,000	8,065,000	7,630,000	7,185,000
2018 Combination Tax and Revenue Certificates of Obligation	9,305,000	-	-	9,305,000	9,305,000	8,980,000	8,635,000	8,275,000	7,895,000
2020 Limited Tax Refunding Bonds	6,468,000	-	-	-	-	-	5,956,000	5,314,000	4,668,000
2021 Combination Tax and Revenue Certificates of Obligation	8,945,000	-	-	-	-	-	8,945,000	8,945,000	8,585,000
2023 Combination Tax and Revenue Certificates of Obligation	8,815,00	-	-	-	-	-	-	-	8,815,000

Total	106,058,000	35,180,000	41,755,000	48,140,000	44,580,000	40,975,000	46,261,000	42,274,000	46,618,000

*Bastrop County does not have revenue supported debt.

The County issues bonds to provide funds for the acquisition and construction of major capital facilities. Bonds payable as of September 30, 2023 were as follows:

Issue Description	Original Balance	Interest Rate	Issue & Maturity Date	Outstanding Balance
2013 Limited Tax Refunding	9,120,000	2.00-3.00%	2013-2025	1,780,000
2014 Combination Tax and Revenue	9,335,000	3.00-4.00%	2016-2034	6,355,000
2015 Limited Tax Refunding	4,715,000	3.00-3.50%	2016-2021	1,335,000
2017 Combination Tax and Revenue	9,290,000	3.00%	2017-2036	7,185,000
2018 Combination Tax and Revenue	9,305,000	3.00-5.00%	2018-2038	7,895,000
2020 Limited Tax Refunding	6,468,000	.57-1.42%	2020-2030	4,668,000
2021 Combination Tax and Revenue	8,945,000	1.50-4.00%	2021-2041	8,585,000
2023 Combination Tax and Revenue	8,815,000	4.00-5.00%	2023-2043	8,815,000
Total Bonds Payable				46,618,000

	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023
Assessed Value of Real Property	3,903,583,148	4,104,480,966	4,669,808,487	5,516,803,45	5,971,622,988	5,969,473,582	6,596,480,810	7,218,038,026	8,450,904,528	11,587,736,156
Debt Limit Rate	5%	5%	5%	5%	5%	5%	5%	5%	5%	5%
Debt Limit	195,179,157	205,224,048	233,490,424	275,840,173	298,581,149	298,473,679	329,824,041	360,901,901	422,545,226	579,386,808
Total Bonded Debt	42,792,880	38,215,000	35,180,000	41,755,000	48,140,000	44,580,000	44,975,000	46,261,000	42,274,000	51,089,000
Less: Amount Set Aside for Repayment	1,377,739	1,706,520	1,720,819	2,093,865	2,156,074	2,512,856	3,005,134	3,862,076	3,862,077	3,827,839
Total Net Debt Applicable to Limit	41,415,141	36,508,480	33,459,181	39,661,135	45,983,926	42,067,144	37,969,866	42,398,924	38,411,923	47,261,161
Legal Debt Margin	153,764,016	168,715,568	02,9771,243	236,179,038	252,597,223	256,406,535	291,854,175	318,502,977	384,133,303	532,125647

Debt service limit under state law, the maximum annual debt service in any fiscal year on state debt payable from a general revenue fund may not exceed 5 percent of an amount equal to the average of the unrestricted general revenue fund for the three preceding fiscal years.
Source: Texas Bond Review Board

	Principal	Interest	Total	Per Capita
Tax Supported Debt Obligations	46,618,000.00	12,520,055.00	59,138,055.00	556.92
Total Outstanding Debt Obligations	46,618,000.00	12,520,055.00	59.138.055.00