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. 

WCID110 CUTTING TAXES AGAIN!

October 16, 2018

DEFEASANCE OF BONDS/LOWER TAX RATE

 

    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. 

   

    On September 1, 2018, HC WCID 110 made its scheduled principal and interest payment on such outstanding bonds, which reduced the total principal amount of outstanding bonds 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.  After the scheduled debt service payment on September 1, 2018 and the early redemption of $2,595,000 in bonds, HC WCID 110 now has $16,150,000 in principal amount of bonds that remain outstanding.  But the good news doesn’t stop there because the Board of Directors of HC WCID 110 recently voted to lower the tax rate from $0.43 per $100 assessed valuation to $0.40 per $100 assessed valuation for the 2018 tax year.  

   

    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.

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