Harris County Roads and Improvement GOs
NAME: Harris County Roads and Improvement GO Bonds (TX)
BONDHOLDER SECURITY: Secured by the proceeds of a continuing direct annual ad valorem tax levied upon all taxable property within a specified area within the District.
USE OF BOND PROCEEDS: The bond proceeds will be used by the issuer to finance public roads and improvements in addition to paying for the issuance costs associated with the Bonds.
RATINGS: A3 (Moody’s as of 2/9/17)
OBLIGOR PROFILE: Harris County has a population north of 4.3 million people making it the most populous county in Texas and the third-most populous county in the United States. Located in southeast Texas, Harris County is home to Houston which is the largest city in Texas.
- Total revenues increased ~288% from 2014 to 2015
- $101.7 million in long-term debt
- The District’s property tax base increased ~223% from 2014 to 2015 due to new construction in the District
- About 97% of the taxable property is owned by the top 10 taxpayers
- About 77% of the taxable property is owned by the top taxpayer
(Source: S&P Credit Statement dated March 1, 2017)
Although this information is obtained from sources believed to be reliable, we cannot guarantee its completeness or accuracy. For complete information regarding these bonds, please review the Official Statement, which can be provided upon request. Investing in bonds involves risk including possible loss of principal. Income may be subject to state, local, or federal alternative minimum tax. Offerings are subject to prior sale and market conditions. Bonds are subject to availability and price fluctuations. As with any investment, market values may fluctuate during the period the bonds are held. For specific yield and suitability of this offering, please contact your R. Seelaus & Co. Financial Advisor at 1-800-922-0584. Securities are offered through R. Seelaus & Co. 25 Deforest Ave. Suite 304, Summit, NJ 07901 Member FINRA/SIPC