Debt Obligations
We are committed to being as transparent as possible, to maintaining our strong bond ratings with the investor community and public at large. Visit our Investor Relations website for more information.
- 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.
- No bond elections are scheduled for the current fiscal year.
|
Total outstanding debt obligations (as of 8/31/24) |
$57,425,000 |
|
Total tax-supported debt obligations (as of 8/31/24) |
$28,960,000 |
|
Total per capita tax-supported debt (as of 8/31/24) |
$6.00 |
|
Total revenue-supported debt obligations (as of 8/31/24) |
$28,465,000 |
| Bond Issuance | Amount | Purpose |
|---|---|---|
| Maintenance Tax Notes Ser 2009B | $2,000,000 | School Building |
| Maintenance Tax Notes Ser 2009A (QZABs) | $6,320,000 | The purpose of paying all or a portion of the Department's costs incurred in connection with the Project in accordance with the provisions of the Act. Proceeds of the Notes also shall be used to pay the costs of issuance thereof. |
| Lease Revenue Refunding Bonds Ser 2014 | $9,685,000 | Refunding for savings |
| Lease Revenue Refunding Bonds Ser 2015 | $4,255,000 | Refunding for savings |
| Lease Revenue Bonds Ser 2016 | $7,000,000 | Contract is intended to provide for the issuance by the Corporation of bonds (the "Bonds") in an amount sufficient to provide for (i) the acquisition of land and the construction, improvement and equipment and a building to be used for the Project, (ii) funding any necessary revenue fund, and (iii) payment of the cost of issuance of the Bonds. |
| Maintenance Tax Notes Ser 2020 | $13,865,000 | Maintenance Expenses |
| Lease Revenue Bonds Ser 2020 | $27,715,000 | Educational Facilities |
Note: HCDE has not initiated any bond elections in its history. All bond issuances are either lease-revenue bonds guaranteed by HCDE, contracted fee for service revenues, and/or Maintenance Notes supported by maintenance and operation taxes. Please refer to our HB 1378 Report and Annual Debt Book. HCDE Debt Obligations Link
Contact Us
Dr. Jesus J Amezcua
Assistant Superintendent for Business Services
6300 Irvington Blvd
Houston, TX 77022
Email: jamezcua@hcde-texas.org
Phone: 713-696-1371
Brenda Del Valle
Executive Assistant to the Assistant Superintendent for Business Services
6300 Irvington Blvd
Houston, TX 77022
Email: brenda.delvalle@hcde-texas.org
Phone: 713-696-8249
For board inquiries, please contact
Jessica Bermea
Executive Assistant to the Board of Trustees
6300 Irvington Blvd
Houston, TX 77022
Email: jbermea@hcde-texas.org
Phone: 713-696-8246
- Lease Bond Repayment Requirements
- HB 1378 Annual Debt Report
- Ratings
- SEC FILINGS - GENERAL OBLIGATION GENERAL OPERATIONS DEBT RULE 15C2-12 Continuing Disclosure Filing-Fiscal Year Ended:
- 2020 Capital Improvement Program (CIP)
- Debt Transparency
- Other Disclosures
- Additional Links