Fort Bend County Municipal Utility District No. 165

CUSIP: 34682WJA2

NAME: Fort Bend County Municipal Utility Dist. NO 165, TX., Unlimited Tax Bonds, Series 2016

COUPON: 3.625%

MATURITY: 9/1/2040

BONDHOLDER SECURITY: Principal and interest on the bonds are payable from the proceeds of an annual ad valorem tax, without legal limitation as to rate or amount, levied against all taxable property within the district.

USE OF BOND PROCEEDS: Proceeds of the Unlimited Tax Bonds, Series 2015A will be used to reimburse the developer and for additional infrastructure.

RATINGS: Baa2 (Moody’s underlying )/AA S&P MAC-insured/AA+ Kroll MAC insured

OBLIGOR PROFILE: The District  (created 2005), contains approximately 385 acres of land and is planned as a primarily single-family residential development. The District is located approximately 25 miles southwest of the central downtown business district of the City of Houston and lies wholly within the extraterritorial jurisdiction of the City of Houston. The District is being developed as “Fieldstone.” As of October 1, 2016, 1,029 homes were constructed (1,023 occupied). Builders are: K. Hovnanian, Meritage and Ashton Woods. Home price point are $155M-$415M.

(Source: Official Statement dated November 10, 2016; Moody’s report dated Nov. 17, 2016)

 

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