Debts
DEBT INFORMATION
City of College Station debt includes General Obligation Bonds 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
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
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
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 September 30, 2024, the City had no outstanding RB’s.
In addition to bond debt, the City of College Station long term debt also includes:
Direct Lending
Direct Lending via a Section 108 Loan to support local affordable housing initiatives underway with LULAC Oak Hill, Inc. This loan was secured by pledging future Community Development Block Grant (CDBG) funding from the US Department of Housing and Urban Development (HUD). LULAC Oak Hills, Inc. has also pledged to repay the principal of the loan and as of September 30, 2024 owed the City $2,704,000.
Lease-Purchase / Lease-Revenue Obligations
The City has obtained office space, machinery, and equipment through long-term operating leases. The terms and conditions for these leases varies. The leases are fixed, periodic payments over the lease terms of the individual contracts, which ranges from 1-2 years.
As of September 30, 2024 the total amount of Obligated Debt for College Station was as follows:
2024 Total Population 129,714
| City of College Station | Fiscal Year 2024 | Per Capita | ||
| General Obligation Bonds | $ | 112,500,000 | $ | 867 |
| Certificates of Obligation | $ | 339,295,000 | $ | 2,616 |
| Direct Lending | $ | 2,704,000 | $ | 21 |
| Lease-Purchase/Lease-Revenue Obligations | $ | 596,359 | $ | 5 |
| Total Outstanding Debt | $ | $455,095,359 | $ | $3,508 |
| City of College Station | Fiscal Year 2024 | Per Capita | ||
| Tax Backed | $ | 236,706,140 | $ | 1,825 |
| Revenue Backed | $ | 215,088,860 | $ | 1,658 |
| Direct Lending | $ | 2,704,000 | $ | 21 |
| Lease-Purchase / Lease-Revenue Obligations | $ | 596,359 | $ | 5 |
| Total Outstanding Debt | $ | $455,095,359 | $ | $3,508 |
Historical bond election information
| Date of Authorization | Purpose | Amount Authorized |
| 1/24/1984 | Fire Substation Building(1) | $700,000 |
| 1/24/1984 | Street Improvements(1) | $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 |
| 11/8/2022 | Fire Safety Improvements | $18,000,000 |
| 11/8/2022 | Street Improvements | $16,100,000 |
| 11/8/2022 | Park Improvements | $22,000,000 |
| $178,480,000 |
Debt Per Capita Data.xlsx - 58KB
Debt Tax Rev Supported Data.xlsx - 21.3KB
UPCOMING BOND ELECTIONS
There are no upcoming bond elections scheduled as of March 7, 2024.REPORTS
Outstanding Debt Obligation by Issue as of 09/30/2024Issue-by-issue listing including principal amount of each outstanding debt obligation.
Outstanding Direct Debt by Fiscal Year for the last 5 years
Total outstanding tax-supported and revenue-supported debt.
FY24 Local Annual Debt Report for City of College Station
Annual Debt Report submitted to Texas State Comptroller
FY2024 Tax Rate - City of College Station (cstx.gov)
Current Fiscal Year 2024 Tax Rates
Adopted Annual Budget for the last 5 years - City of College Station (cstx.gov)
Previous Last 5 Fiscal Years Adopted Budgets