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DEBT OBLIGATIONS

Victoria County practices conservative budgeting and maintains very modest debt levels, as well as a healthy reserve fund balance. The County has adopted a fund balance policy that sets as a goal a minimum fund balance of at least 25% of budgeted annual expenditures.

These summaries are based on our most recently completed and audited fiscal year: 2020. Victoria County's fiscal year runs from January 1 - December 31.  The 2020 Census population of Victoria County is 91,319. Per capita is cost per citizen.

Sources: United States Census Bureau; American Community Survey; ACS 1- Year Estimates Data, 2019, https://data.census.gov/ and 2020 comprehensive annual financial report. 

DEBT OBLIGATIONS SUMMARY

Total outstanding debt obligations: $21,129,704
Total tax-supported debt obligations: $21,042,414
Total tax-supported debt obligations per capita: $230.43
Total revenue-supported debt obligations: $0
Total lease-purchase or lease-revenue obligations: $87,290*

*Lease purchase is funded by Road & Bridge Fund 204 and not Debt Service Funds

Upcoming Bond Election Information: There were no bond elections during fiscal year 2020There are currently no scheduled upcoming bond elections. 

The last bond election was held on May 2, 1998, for the issuance of General Obligation Bonds.  The canvass results were: 1943 For and 409 Against. The bonds were issued in September of 1998 in the amount of $2,700,000 for improvements to the 1892 Victoria County Courthouse.


Tax-supported debt is backed by a pledge of property taxes levied within the issuers' boundaries. Historical information regarding County debt can be found in the 2020 Comprehensive Financial Report.

Note: The inflation adjustment above uses the Consumer Price Index (CPI) Inflation Calculator published by the Bureau of Labor Statistics (BLS). 

Certificates of Obligation (COs)  are authorized by the Certificate of Obligation Act of 1971, Subchapter C of Chapter 271 of the Texas Local Government Code. COs are generally issued as tax-supported debt to pay for the construction of a public work; purchase of materials, supplies, equipment, machinery, buildings, land, and rights-of-way; and professional services, such as engineers, architects, attorneys, and financial advisors. Debt for COs is paid from ad valorem taxes and/or a combination of revenues available from other sources. CO issuance does not require voter approval unless a valid petition of 5 percent of the voters requesting an election is presented.

General Obligation Bonds (G.O. Bonds) are secured by the County’s ad valorem taxes.   Victoria County issues G.O. Bonds after the approval of the voters at a bond election. 

Refunding Bonds can be issued by the County, under Chapter 1207, Texas Government Code, to refinance outstanding bonds by issuing new bonds at a lower interest rate.  Refunding bonds do not require an election. 

Lease-Purchase involve the purchase of an asset through periodic lease payments.

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For more information on County Debt please visit the Texas Comptroller of Public Accounts Debt at a Glace website.

For debt information provided by the State please visit the Texas Bond Review Board website.