Note: From the world of finance, some news that might be of interest to some of you investors out there (for average Joe taxpayer, this means the county is floating another $96.6 million in debt, plus interest, in the municipal bond market) . . . contact Hays County Auditor Bill Herzog for details at bherzog@co.hays.tx.us, 512.393.2283.
NYTimes June 19 edition – The Treasury’s schedule of financing this week includes Monday’s regular weekly auction of new three- and six-month bills and an auction of four-week bills on Tuesday. At the close of the New York cash market on Friday (June 17), the rate on the outstanding three-month bill was 0.03 percent. The rate on the six-month issue was 0.09 percent, and the rate on the four-week issue was 0.01 percent.
The following tax-exempt fixed-income issues are scheduled for pricing this week (among many others): Hays County, Tex., $96.6 million of toll revenue bonds. Samco Capital Markets.
2 comments:
Fitch Ratings evaluates proposed bond issues. AAA is their top rating. They give AA for the upcoming Hays County revenue bonds to continue road work. One of their remarks:
"The county's high debt load represents a key credit concern....The anticipated debt service burden relative to spending is also high."
To read Fitch's entire article, go to www.google.com and search for "Hays County, Texas toll revenue bonds." Click on the article (currently 5th on the list) "Fitch Rates Hays County...."
The county's high debt load represents a key credit concern. While direct debt levels are moderate, overall debt levels are high at about $7,800 per capita and 9% of market value, which primarily reflects debt from overlapping school districts and the city of San Marcos.
**** note that the HIGH debt levels are reflective of overall debt, not just the County ****
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