Debt Information

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The City of Plano uses a variety of methods to finance the acquisition, design and construction of capital projects for infrastructure, facilities, parks and technology projects. In addition to using current revenues, Plano has regularly used several debt instruments to borrow money for capital projects that are repaid over a time-frame of up to 20 years by current and future Plano property owners and utility customers.

Property Tax Supported: General Obligation Bonds, Certificates of Obligation and Tax Notes
The City of Plano has sold several types of debt that are repaid by the property taxes paid by Plano property owners. Most tax supported debt is from general obligation bonds which were approved by voters in bond referendums for a variety of capital improvement projects for streets, parks, recreation centers, city facilities and other public infrastructure. Plano’s most recent bond referendum was held in May 2017, with the next bond referendum anticipated for May 2021.

The City of Plano has also issued Certificates of Obligation and Tax Notes, which generally have a shorter repayment term than General Obligation Bonds, for technology projects such as the public safety radio system, wireless communication network and enterprise applications.

All of Plano’s outstanding property tax supported debt carries AAA bond ratings from Standard and Poor’s, Moody’s and Fitch Ratings. The City of Plano has never defaulted on its tax supported debts and is required to annually levy a tax rate sufficient to cover all principal and interest payments to bondholders.

Utility Bill Supported: Water and Sewer Revenue Bonds and Municipal Drainage Revenue Bonds
The City of Plano issued Water and Sewer Revenue bonds in 2016 to support the construction of four major sewer system projects and issued Municipal Drainage Revenue bonds for design and construction of drainage improvements and erosion control projects in 2017. Revenue bonds are repaid from utility system revenues, which are paid by utility customers through their monthly or quarterly bills - water and sewer rates for Water and Sewer Revenue Bonds and drainage fees for Municipal Drainage Revenue Bonds.

Plano’s Water and Sewer Revenue bonds carry the AAA rating from Fitch and S&P, while Plano’s most recent Municipal Drainage Revenue bonds carry the AAA rating from S&P and the Aa1 rating from Moody’s. The City of Plano has never defaulted on its revenue supported debts and is required to set utility rates and fees at a sufficient level to cover all principal and interest payments to bondholders.

Category

Debt Outstanding
 at 9/30/16

Per Capita
Debt Outstanding


General Obligation Bonds and Tax Notes

$327,935,000

$1,175


          Tax Supported Debt Sub-Total

 $302,590,000

$1,103


Water and Sewer Revenue Bonds

$23,845,000

$85


Drainage Revenue Bonds

$17,995,000

$150


          Revenue Supported Debt Sub-Total

 
 $41,800,000
                $150

Lease-Purchase / Lease-Revenue Obligations


$0

$0

          Lease-Purchase / Lease-Revenue Debt
          Sub-Total


$0

$0

Total for All Outstanding Debt City of Plano
Debt

$369,735,000

$1,325

2017 Plano Population Estimate = 279,100

Debt Info - Chart 1

Debt Info - Chart 2

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Stars Debt Outstanding by Issue 2017: List of the City of Plano’s debt obligations by issuance

Stars Debt Outstanding by Fiscal Year thru 2017: Includes both tax-supported and revenue-supported debt

Historical Bond Election Information: Includes election date, purpose and amount of bond elections since 1979
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Tax Rates for Current Fiscal Year

City of Plano Finance Department

City of Plano Budget Department

Texas Comptroller of Public Accounts Debt at a Glance Tool

Texas Bond Review Board: Debt data for Texas Local Governments

Debt Service as of September 30, 2017

More information on Plano’s current bonds and tax notes is available on the Official Statements web page. These documents are prepared for financial firms and investors who evaluate the purchase of City of Plano debt.
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HB 1378: Debt Obligation Reporting mandated by Local Government Code Section 140.008

The 84th Legislature passed HB 1378 to increase the transparency of local government debt. Under Local Government Code § 140.008, political subdivisions, including counties, cities, school districts, junior college districts, special purpose districts, and other subdivisions of state government must annually compile their debt obligation data from the preceding fiscal year.

Bond Authorization Balance at 9/30/17: Authorized debt, issued and unissued amounts.

Debt Detail Information at 9/30/17: Outstanding direct debt obligations, tax and revenue supported. Includes purpose, credit rating, outstanding principal amount, debt service, and spent and unspent proceeds issue-by-issue.
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Texas Transparency site by the Texas Comptroller of Public Accounts

Open Records Request

Plano City Council Information

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