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    Debt Obligation

    Chart with trendline

    The transparency star award for debt obligation contains lots of pertinent resources for anyone to research Tarrant County debt obligations and our ability to be a fiduciary responsible entity.

        

    Total Outstanding Debt

    Tarrant County’s total outstanding debt as of September 30, 2017 is $324,065,000 this includes $2,270,000 in Lease Purchase Bonds. Bonds are generally issued as 20-year serial bonds. Payments are scheduled through 2035.  

    The tax supported debt obligation per county resident is $164.80.

    Bond Elections

    The two most recent Tarrant County bond elections occurred in 1998 and 2006.   

    1998

    On August 8, 1998, Tarrant County voters approved G.O. bond funding for three separate capital improvement projects totaling $94,300,000. The capital improvement projects included the construction of a new Family Law Courthouse, the addition of a County public health facility and expansion of the County’s jail facilities.

    Bond

    Proposition

    Amount Authorized

    Amount

    Issued

    Unissued

    Balance

    Family Law Center

    $70,600,000

    $63,100,000

    $7,500,000

    Public Health Facility

    $9,100,000

    $1,000,000

    $8,100,000

    County Jail Facilities

    $14,600,000

    $14,600,000

    $0

    Total

    $94,300,000

    $78,700,000

    $15,600,000

    At this time, there is no intent to sell the balance associated with these bond authorizations.

    The Family Law Courthouse provides specially designed courtrooms, conferencing areas, and children’s waiting rooms. A new County public health facility was proposed to enhance the program operations by providing sufficient training and classroom space for health promotion activities.  Other sources of funds were used to complete this project. The expansion of the County’s jail facilities included 1,100 additional beds.

    2006

    On May 13, 2006, Tarrant County voters approved G.O. bond funding up to $433,120,000 in capital improvement and transportation projects designed to meet the needs of one of Texas’ fastest growing counties.

    Bond

    Proposition

    Amount Authorized

    Amount

    Issued

    Unissued

    Balance

    Roads & Bridges

    $200,000,000

    $200,000,000

    $0

    Jail Facilities

    $108,000,000

    $93,000,000

    $15,000,000*

    Court Buildings

    $62,300,000

    $62,300,000

    $0

    Juvenile Justice Complex

    $36,320,000

    $36,320,000

    $0

    Medical Examiner Facilities

    $26,500,000

    $26,500,000

    $0

    Total

    $433,120,000

    $418,120,000

    $15,000,000

    *Reallocated $15 M from Court Buildings to Jail Facilities.

    Obsolete and overcrowded facilities are being renovated or replaced with newer facilities to handle future growth. Voters approved five separate proposals, four of which involve capital improvement projects. Those projects include improvements to the County and District Court (Civil Courts) buildings, the Juvenile Justice Complex, the Medical Examiner’s facilities and County jail facilities. The remaining proposal addresses the county’s transportation needs and includes mobility, street, road, highway and bridge maintenance and improvement projects.

     

    Definitions

    General Obligation Bonds (G.O. Bonds) are secured by the County’s ad valorem taxes.   Tarrant County issues G.O. Bonds after the approval of the voters at a bond election.

    Limited Tax Bonds can be issued by the County, under Article III, Section 52, of the Texas Constitution. These bonds are secured by pledging a percentage of the property taxes. The debt amount must not exceed 25 percent of the County’s total appraised taxable valuation.

    Refunding Bonds can be issued by the County, under Chapter 1207, Texas Government Code, to refinance outstanding bonds by issuing new bonds at a lower interest rate.  Refunding Bonds do not require an election.

    Lease-Purchase Bonds involve the purchase of an asset through periodic lease payments.

     

    Accessibility Notice: If you need assistance accessing the preceding information, please contact the County Administrator's Office at 817-884-1575.