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Debt Obligation

Bastrop County currently holds a bond rating of AA+ with Standard & Poor’s Ratings Services and a Aa2 with Moody’s Investor’s Service.

In FY 20-21 the County issued $8,945,000 in combination tax and revenue certificates of obligation, series 2021. The bonds have interest rates ranging from 1.5% to 4.0%. The certificates will be used for construction and equipping of a County building, various County building roof upgrades, technology and communication upgrades and construction and improvement of road and bridges. Additionally, the funds will be used for the acquisition of road maintenance equipment and costs of issuance. The total outstanding debt as of September 30, 2020 is $40,975,000. 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

2011 2012  2013 2014 2015  2016  2017 2018 2019 2020
$4,100,116 $4,133,720  $4,374,946 $4,453,187  $4,514,477  $4,583,293  $3,885,671  $4,667,518 $5,675,993 $5,299,172

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 2014 2015 2016 2017 2018 2019 2020 2021
2005 Combination Tax & Revenue Certificates of Obligation
9,500,000 1,510,000 - - - - - - -
2006 Combination Tax and Revenue Certificates of Obligation
9,500,000 4,890,000 240,000 - - - - - -
2009 Limited Tax Refunding Bonds
3,830,000 2,140,000 1,745,000 1,335,000 910,000 465,000 - - -
2010 Combination Tax and Revenue Certificates of Obligation
10,810,000 9,240,000 8,800,000 8,350,000 7,885,000 7,405,000    6,910,000   6,400,000 -
2012 Limited Tax Refunding Bonds
6,425,000 5,405,000 4,875,000 4,330,000 3,765,000 3,190,000 2,595,000 1,980,000 1,980,000
2013 Limited Tax Refunding Bonds
9,120,000 8,845,000 8,505,000 8,155,000 7,795,000 6,865,000 5,910,000 4,925,000 4,925,000
2014 Combination Tax and Revenue Certificates of Obligation
9,335,000 9,335,000 9,335,000 8,835,000 8,735,000 8,535,000 8,185,000 7,750,000 7,750,000
2015 Limited Tax Refunding Bonds
4,715,000 4,715,000 4,715,000 4,175,000 3,375,000 3,085,000 2,780,000 2,455,000 2,455,000
2017 Combination Tax and Revenue Certificates of Obligation
9,290,000 - - - 9,290,000 9,290,00 8,895,000 8,485,000 8,485,000
2018 Combination Tax and Revenue Certificates of Obligation
9,305,000 - - - - 9,305,000 9,305,000 8,980,000 8,890,000
2020 Limited Tax Refunding Bonds 6,468,000 - - - - - - - 6,468,000
2021 Combination Tax and Revenue Certificates of Obligation 8,945,000 - - - - - - - 8,945,000
Total
97,243,000 46,080,000 38,215,000 35,180,000 41,755,000 48,140,000 44,580,000 40,975,000 49,988,000

*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, 2020 were as follows:

Issue Description  Original Balance Interest Rate Issue & Maturity Date Outstanding Balance
2009 Limited Tax Refunding Bonds 3,830,000 2.00-4.00% 2010-2019 -
2010 Combination Tax and Revenue 10,810,000 2.00-3.25% 2011-2030 6,400,000
2012 Limited Tax Refunding 6,425,000 2.00-3.00% 2012-2023 1,980,000
2013 Limited Tax Refunding 9,120,000 2.00-3.00% 2013-2025 4,925,000
2014 Combination Tax and Revenue 9,335,000 3.00-4.00% 2016-2034 7,750,000
2015 Limited Tax Refunding 4,715,000 3.00-3.50% 2016-2021 2,455,000
2017 Combination Tax and Revenue 9,290,000 3.00% 2017-2036 8,485,000
2018 Combination Tax and Revenue 9,305,000 3.00-5.00% 2018-2038 8,980,000
2020 Limited Tax Refunding 6,468,000 .57-1.42% 2020-2030 6,468,000
2021 Combination Tax and Revenue 8,945,000 1.50-4.00% 2021-2041 8,945,000
Total Bonds Payable 49,988,000

2011 2012 2013 2014 2015 2016  2017  2018 2019 2020
Assessed Value of Real Property 3,572,474,467  3,732,448,963 3,709,450,229  3,903,583,148   4,104,480,966 4,669,808,487  5,516,803,465   5,971,622,988  5,969,473,582 6,596,480,810 
Debt Limit Rate
5% 5% 5% 5% 5%  5%  5%
 5%  5%  5%
Debt Limit
178,623,723 186,622,448  185,472,511  195,179,157   205,224,048 233,490,424   275,840,173 298,581,149   298,473,679 329,824,041 
Total Bonded Debt
40,815,000 38,000,000  36,154,465  42,792,880   38,215,000 35,180,000  41,755,000  48,140,000  44,580,000  44,975,000 
Less: Amount Set Aside for Repayment
1,044,358  1,220,225 1,377,739  1,377,739  1,706,520  1,720,819  2,093,865  2,156,074  2,512,856  3,005,134 
Total Net Debt Applicable to Limit
39,770,642 36,779,775   34,776,726 41,415,141   36,508,480 33,459,181  39,661,135   45,983,926  42,067,144 37,969,866 
Legal Debt Margin
138,853,081  149,842,673 150,695,785  153,764,016   168,715,568  200,031,243 236,179,038   252,597,223 256,406,535   291,854,175

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 49,988,000.00 11,359,504.56 61,347,504.56 691.45
Total Outstanding Debt Obligations 49,988,000.00 11,359,504.56 61,347,504.56

 

*Bastrop County currently has no Lease Purchase Obligations or Revenue Supported Debt Obligations.

 

2020 Population - 88,723

The population was obtained from the United States Census Bureau.


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