Leadership Circle Third Year Award Dallas County Auditor’s Office
Dallas County Debt Review

Records Building - 509 Main Street, 4th Floor, Suite 407, Dallas, Texas 75202-3548
Phone: (214) 653-6472 • Hours of Operation: 8:00 a.m. to 4:30 p.m.

The County’s Strategic Plan (2007-2017) addresses a long-term goal of converting from a capital structure which depends on tax-exempt debt to one that relies on cash.  Debt financing for major projects is budgeted by commitment of a portion of the tax rate, a total of 4.5 cents per hundred is committed to combinded debt service and major capital development.  As debt service from previously-approved bonds decreases, the increasing amount available from this tax rate provides money for major road projects, major building projects, and park and open space projects.

Long term debt as reflected in the County's CAFR for the year ended September 30, 2013 is as follows:

Long-Term Debt

(In thousands of dollars)

Long-Term Debt Summary

Issuances in Detail

 

On June 27, 2013, the County issued Limited Tax Refunding Bonds Series 2013 with a principal amount of $10,515, and premium of $1,669. This bond advance refunded $11,440 of Combination Tax and Parking Garage Revenue Certificates of Obligation Series 2004.

 

Additionally, on June 27, 2013, the County issued Limited Tax Notes Series 2013, with a principal amount of $35,825, and premium of $4,423. Proceeds of this bond are being used to fund improvements of certain County buildings to increase energy savings, pay cost of professional services related to the forgoing, and pay related bond issuance costs.

 

On May 1, 2011, the County issued Unlimited Tax Refunding Bonds Series 2011A with a principal amount of $30,495 and premium of $2,072. These bonds advance refunded $31,500 of Road Refunding Bonds, Series 2001A Current Interest Bonds.

 

Additionally, on May 1, 2011, the County issued Limited Tax Notes Series 2011 with a principal amount of $41,545 and premium of $3,749. Proceeds of this bond are being used to fund improvements of certain County buildings, update County elevators, purchase an enhanced and expanded video conference system, pay costs of professional services related to the forgoing, and pay related bond issuance costs.

 

On April 11, 2006, the County issued Combination Tax and Parking Garage Revenue Certificates of Obligation with a principal amount of $63,220 which was used to construct and equip County jail facilities and to construct and equip a replacement for the County’s existing Institute of Forensic Science building.  The bonds were issued with a premium of $2,196.

 

On May 18, 2005, the County issued Unlimited Tax Refunding Bonds to advance refund $7,000 of outstanding Series 1996 Road Current Interest Bonds and $17,500 in Series 2000 Road Current Interest Bonds.  $21,270 was issued as current interest bonds maturing in 2020 and $2,827 as capital appreciation bonds maturing in 2012.

 

On April 6, 2004 the County issued Combination Tax and Parking Garage Revenue Certificates of Obligation with a principal amount of $16,145 which was used to construct and equip the underground Historical Plaza Parking Garage and to expand the County’s underground parking garage adjacent to the George Allen Courts Building.  The bonds were issued with a premium of $509.

 

As of  FY2014, Dallas County Bonded Indebtedness includes Principal of $136,430,000, Interest of $21,721,869 for a total debt of $158,151,869 through the year 2025.

County Indebtedness statistics and chart

If you’d like to see how the State Comptroller’s Texas Transparency website factor Debt-per-Capita, please visit their Debt-At-A-Glance website. The page has debt calculations for state, county and city government, plus similar data for school districts and community college districts.