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
Historical bond election information
Debt Per Capita Data.xlsx - 58KB Debt Tax Rev Supported Data.xlsx - 21.3KB