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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 17-18 the County issued $9,305,000 in combination tax and revenue certificates of obligation, series 2018. The bonds have interest rates ranging from 3.0% to 5.0%. The certificates will be used for construction and equipping of a County office building, 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 9.30.2018 is $48,140,000.


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.

The County issues bonds to provide funds for the acquisition and construction of major capital facilities. Bonds payable as of September 30, 2018 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 1,335,000
2010 Combination Tax and Revenue 10,810,000 2.00-3.25% 2011-2030 8,350,000
2012 Limited Tax Refunding 6,425,000 2.00-3.00% 2012-2023 4,330,000
2013 Limited Tax Refunding 9,120,000 2.00-3.00% 2013-2025 8,155,000
2014 Combination Tax and Revenue 9,335,000 3.00-4.00% 2016-2034 8,835,000
2015 Limited Tax Refunding 4,715,000 3.00-3.50% 2016-2021 4,175,000
2017 Combination Tax and Revenue 9,290,000 3.00% 2017-2036 9,290,00
2018 Combination Tax and Revenue 9,305,000 3.00-5.00% 2018-2038 9,305,000
Total Bonds Payable 48,140,000

2018 2017 2016  2015  2014 2013 2012 2011
Assessed Value of Real Property 5,971,622,988 5,516,803,465  4,669,808,487 4,669,808,487 4,104,480,966 3,903,583,148 3,709,450,229 3,732,448,963
Debt Limit Rate
5% 5%  5%  5%
 5%  5%  5%  5%
Debt Limit
298,581,149 275,840,173 233,490,424  233,490,424
205,224,048 195,179,157 185,472,511 186,622,448
Total Bonded Debt
48,140,000 41,755,000 35,180,00  38,215,000
42,792,880 36,154,465  38,000,000  40,815,000
Less: Amount Set Aside for Repayment
2,140,534 2,093,865  1,720,819  1,706,520
 1,377,739  1,377,739 1,200,225 1,044,358
Total Net Debt Applicable to Limit
45,999,466 39,661,135 33,459,181  36,508,480
 41,415,141  34,776,726  36,779,775  39,770,642
Legal Debt Margin
252,581,683 236,179,038  200,031,243  196,981,944
 163,808,907  160,402,431  148,692,736  146,851,806

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
Total Tax-Supported Debt Obligations
2011 2012  2013 2014 2015  2016  2017 2018
$4,100,116 $10,926,008  $14,129,417 $4,453,187  $9,545,214  $4,583,293  $3,885,671  $4,667,518

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

Total Outstanding Debt as of September 30th of Each Year
Tax Supported Debt
Original Debt Amount 2014 2015 2016 2017 2018
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
2012 Limited Tax Refunding Bonds
6,425,000 5,405,000 4,875,000 4,330,000 3,765,000 3,190,000
2013 Limited Tax Refunding Bonds
9,120,000 8,845,000 8,505,000 8,155,000 7,795,000 6,865,000
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
2015 Limited Tax Refunding Bonds
4,715,000 4,715,000 4,715,000 4,175,000 3,375,000 3,085,000
2017 Combination Tax and Revenue Certificates of Obligation
9,290,000 - - - 9,290,000 9,290,00
2018 Combination Tax and Revenue Certificates of Obligation
9,305,000 - - - - 9,305,000
Total
81,830,000 46,080,000 38,215,000 35,180,000 41,755,000 48,140,000

*Bastrop County does not have revenue supported debt.

Principal Interest Total Per Capita
Tax Supported Debt Obligations 48,140,000.00 13,180,036.50 61,320,036.50 723.45
Total Outstanding Debt Obligations 48,140,000.00 13,180,036.50 61,320,036.50

 

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

 

2018 Population - 84,761

The population was obtained from the United States Census Bureau.



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