WCID110 Falling Taxes



HC WCID 110 has issued a total principal amount of $54,035,000 in bonds to finance the construction of the water, sewer and drainage facilities to serve the land within its boundaries.

As of today, the total principal amount of such issued bonds that remain outstanding is $19,995,000. On September 1, 2018, the next principal and interest payment on the outstanding bonds will be made which will reduce the total principal amount of outstanding to $18,745,000. In addition, the Board of Directors of HC WCID 110 recently approved using surplus operating and debt service revenues to redeem an additional principal amount of $2,595,000 in outstanding bonds before those bonds were scheduled to mature. By redeeming such bonds before their stated maturity, the taxpayers of HC WCID 110 will realize a total of approximately $619,000 in interest savings. Thus, after the scheduled debt service payment on September 1, 2018, and the early redemption of $2,595,000 in bonds, HC WCID 110 will have the principal amount of $16,150,000 in bonds that remain outstanding. If property values within HC WCID 110 continue to grow over the next ten years the current Board of Directors' vision is to redeem additional bonds prior to their maturity and have all outstanding bonds paid off within ten years while still being able to lower the debt service tax rate gradually.

Featured Posts
Recent Posts
Search By Tags

 In Existence Since May 9th 1968 Harris County WCID #110 All Rights Reserved.

The content in this website is provided by Harris County Water Control and Improvement District No. 110 ("HCWCID110 or District") for informational purposes only. This website and the information contained herein should not be relied upon or used as current information for the purposes of securities disclosure about the District, its financial condition, the bonds of the District, or property in the District. Persons should not rely upon information in this website when considering whether to buy, sell, or hold property within the District. The District files official continuing disclosure information at least annually in accordance with the rules and regulations of the securities and exchange commission. The District assumes no duty to update any information on this website at any time.