Living on the Credit Card and Mortaging the Future

LIBERTY COUNTY, June 20, 2013 - According to the Texas Comptroller’s Office, local finances account for more than half of all Texas state and local taxes and four-fifths of its government debt — $195.8 billion at the end of fiscal 2012. Local spending and debt are skyrocketing, as is the sheer number of government bodies that levy taxes and issue debt in your name.

Efforts to introduce more transparency into local spending and debt never made it to a full vote in this recent legislative session, and every taxpayer in our state should sit up and take notice.

Looking at the School Districts in Liberty County who cost local citizens the majority of our property taxes, which ones are not raising the tax rates yet still spending money financing our schools with ever increasing amounts of debt rather than living on their income?

Below is a table that gives you the bottom line answer to this question. It tells how much each of our school boards has gotten each of us in debt for. The table gives the debt per capita for each person in the district and the debt per student of each student in the district. The top three districts in Liberty County that have placed the citizens of their district in debt for the most are Cleveland ISD, Devers ISD and Tarkington ISD, in that order.

District
Debt per Capita
Debt per Student
Total Debt
Dayton ISD $808.52 $4,642.46
$20,541,587
Hull-Daisetta ISDSD $901.27 $5,462.60
$2,539,000
Tarkington ISD $1,415.87 $6,439.08
$11,745,000
Liberty ISD $1,376.60 $7,233.91
$17,221,481
Hardin ISD $1,349.29 $7,449.80
$8,519,997
Devers ISD $1,439.96 $7,612.36
$1,259,437
Cleveland ISD $1,966.67 $10,151.13
$37,866,509

The data for this report is below. It comes from the Office of the Texas Comptroller and the Texas Bond Review Board.

1
Issuer Issue Name Pledge Mty Date Principal Interest Total Payment
Cleveland ISD School Bldg Unl Tax Bonds Ser 2003 GO 08/15/2013 $930,000 $16,507 $946,507
Cleveland ISD Unl Tax Ref Bonds Ser 2006 GO 08/01/2031 $8,719,989 $7,154,978 $15,874,966
Cleveland ISD Unl Tax Ref Bonds Ser 2007 GO 08/01/2024 $7,500,708 $2,343,592 $9,844,300
Cleveland ISD Unl Tax Ref Bonds Ser 2010 GO 08/15/2033 $20,715,812 $17,452,650 $38,168,463
  Subtotal:     $37,866,509 $26,967,727 $64,834,236
1

Population: 19,836
Enrollment: 3,843
Debt Outstanding per Capita: $1,966.67
Debt Outstanding per Student: $10,151.13

1
Issuer Issue Name Pledge Mty Date Principal Interest Total Payment
Tarkington ISD Unl Tax Ref Bonds Ser 2012 GO 08/15/2033 $9,030,000 $4,299,493 $13,329,493
Tarkington ISD Unl Tax School Bldg Bonds Ser 2003 GO 08/15/2021 $2,090,000 $376,513 $2,466,513
Tarkington ISD Unl Tax School Bldg Bonds Ser 2004 GO 08/15/2016 $625,000 $45,453 $670,453
  Subtotal:     $11,745,000 $4,721,459 $16,466,459
1

Population: 8,659
Enrollment: 1,904
Debt Outstanding per Capita: $1,415.87
Debt Outstanding per Student: $6,439.08

1
Issuer Issue Name Pledge Mty Date Principal Interest Total Payment
Hardin ISD MTN Ser 2009 GO 06/01/2014 $530,000 $29,740 $559,740
Hardin ISD Time Warrants Ser 2009 GO 06/01/2014 $155,000 $8,738 $163,738
Hardin ISD Unl Tax Ref Bonds Ser 2011 GO 08/15/2019 $2,959,997 $477,072 $3,437,069
Hardin ISD Unl Tax School Bldg Bonds Ser 2008A GO 08/15/2029 $3,225,000 $1,882,309 $5,107,309
Hardin ISD Unl Tax School Bldg Bonds Ser 2008C GO 08/15/2029 $1,650,000 $847,575 $2,497,575
  Subtotal:     $8,519,997 $3,245,434 $11,765,431
1

Population: 6,874
Enrollment: 1,245
Debt Outstanding per Capita: $1,349.29
Debt Outstanding per Student: $7,449.80

1
Issuer Issue Name Pledge Mty Date Principal Interest Total Payment
Hull-Daisetta ISD Unl Tax QSC Bonds Txble Ser 2011 GO 07/01/2027 $1,689,000 $715,666 $2,404,666
Hull-Daisetta ISD Unl Tax Ref Bonds Ser 2012 GO 08/15/2018 $850,000 $74,437 $924,437
  Subtotal:     $2,539,000 $790,103 $3,329,103
1

Population: 3,079
Enrollment: 508
Debt Outstanding per Capita: $901.27
Debt Outstanding per Student: $5,462.60

1
Issuer Issue Name Pledge Mty Date Principal Interest Total Payment
Dayton ISD Ltd MTN Ser 2003 GO 07/01/2013 $125,000 $4,625 $129,625
Dayton ISD Ltd MTN Ser 2011 GO 08/15/2019 $1,050,000 $99,006 $1,149,006
Dayton ISD QZA Ltd MTN Ser 2002 GO 06/27/2015 $721,587 $ $721,587
Dayton ISD Unl Tax Ref Bond Ser 2005 GO 08/15/2017 $6,910,000 $894,863 $7,804,863
Dayton ISD Unl Tax Ref Bond Ser 2008 GO 08/15/2017 $750,000 $63,525 $813,525
Dayton ISD Unl Tax Ref Bonds Ser 2011 GO 08/15/2024 $8,050,000 $2,244,550 $10,294,550
Dayton ISD Unl Tax School Bldg Bond Ser 2003 GO 08/15/2016 $2,935,000 $202,469 $3,137,469
  Subtotal:     $20,541,587 $3,509,038 $24,050,625
1

Population: 28,170
Enrollment: 4,906
Debt Outstanding per Capita: $808.52
Debt Outstanding per Student: $4,642.46

Click a column header to sort.
1
Issuer Issue Name Pledge Mty Date Principal Interest Total Payment
Liberty ISD QSC MTN Txbl Ser 2011 (Direct-Pay Subsidy Notes) GO 08/15/2029 $2,560,000 $2,182,528 $4,742,528
Liberty ISD QZA Ltd MTN Ser 2001 GO 05/31/2015 $216,000 $ $216,000
Liberty ISD QZA Ltd MTN Ser 2003 GO 03/25/2018 $1,000,000 $ $1,000,000
Liberty ISD QZA Ltd MTN Ser 2005 GO 04/13/2022 $515,486 $ $515,486
Liberty ISD Unl Tax Ref Bonds Ser 2005 GO 08/15/2027 $8,829,995 $4,698,021 $13,528,016
Liberty ISD Unl Tax Ref Bonds Ser 2010 GO 08/15/2018 $4,100,000 $478,125 $4,578,125
  Subtotal:     $17,221,481 $7,358,674 $24,580,155
1

Population: 11,256
Enrollment: 2,142
Debt Outstanding per Capita: $1,376.60
Debt Outstanding per Student: $7,233.91 

1
Issuer Issue Name Pledge Mty Date Principal Interest Total Payment
Devers ISD Unl Tax Ref Bonds Ser 2012 GO 08/15/2022 $1,259,437 $129,514 $1,388,950
  Subtotal:     $1,259,437 $129,514 $1,388,950
1

Population: 941
Enrollment: 178
Debt Outstanding per Capita: $1,439.96
Debt Outstanding per Student: $7,612.36

Share |
 

 

Find Local T.V. Listings

Enter your zip code: Reference tools for you Forms for your site

find

 

Copyright � i-dineout.com. All rights reserved

For questions, comments, advertising information or to send a press release