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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

 

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

 

2023 Population - 110,778

The population was obtained from the United States Census Bureau.


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