DEBT INFORMATION
City of College Station's debt consists of General Obligation and Certificate of Obligation Bonds, to provide funds for the acquisition and construction of major capital facilities. These types of bonds have been issued by the city for both governmental activities as well as business-type activities. These bonds are reported in the proprietary funds if they are expected to be repaid from proprietary fund revenue.
General Obligation Bonds (GO's) must be authorized by a vote of the citizens of the City of College Station. GO's are direct obligations, for which the city has pledged the full faith and credit of the city. These bonds generally are issued as 20-year serial bonds with varying amounts of principal maturing each year.
Certificates of Obligation (CO's) will be used in order to fund capital requirements that are not otherwise covered under either Revenue or General Obligation Bonds. Debt service for CO's may be either from general revenues, backed by a specific revenue stream, streams or by a combination of both. Generally CO's will be used to fund capital assets when GO's and RB's are not appropriate and when authorized under law.
Revenue Bonds (RB's) will be issued to provide for capital needs of the city's utilities: electric, water, and wastewater funds and are secured by the net revenues of those funds. The city pledges income derived from the acquired or constructed assets to pay the debt service. As of Sept. 30, 2021, the city had no outstanding RB's.
As of Sept. 30, 2021, the total amount of Obligated Debt for College Station was as follows:
2021 Total Population: 124,886
HISTORICAL BOND ELECTION INFORMATION
Date of Authorization Purpose Amount Authorized
1/24/1984 Fire Substation Building $700,000
1/24/1984 Street Improvements $6,325,000
11/4/2003
Street Improvements $17,980,000
11/4/2003
Traffic Management $3,000,000
11/4/2003
Park Improvements $8,105,000
11/4/2003
Municipal Complex Improvements $7,610,000
11/4/2003
Fire Station Improvements $1,710,000
11/4/2008
Street Improvements $45,785,000
11/4/2008
Traffic Management $3,000,000
11/4/2008
Library Improvements $8,385,000
11/4/2008
Fire Substation Building $6,990,000
11/4/2008
Park Improvements $12,790,000
..................................................................................................................................................
$122,380,000