JavaScript is turned off in your web browser. Turn it on to take full advantage of this site, then refresh the page.

Bond Debt

In September 2020, the District issued bonds totaling approximately $8.4 million at a 5.2% interest rate and used the net cash proceeds to subsidize costs incurred by the Developer to construct the public infrastructure within the Bradley Ranch neighborhood. The bonds mature on December 1, 2056 and the bonds are held by Affirmed Financial Services, LLC - an entity affiliated with the Land Developer (The Landhuis Co.).

The bonds may be redeemed at anytime prior to maturity without a prepayment penalty.

The Bonds are secured by and payable from the Pledged Revenue consisting of monies derived by the District from the following sources, net of any collection costs: (1) the Required Mill Levy, and (2) the portion of the Specific Ownership Tax which is collected as a result of the imposition of the Required Mill Levy. Required Mill Levy means an ad valorem mill levy imposed upon all taxable property of the District each year in an amount sufficient to pay the principal, premium if any, and interest on the Bonds as the same become due and payable including any accrued interest and unpaid amounts and interest due as a result of compounding, if any.

The District’s repayment schedule for its bonds is as follows:

Year Ended December 31	Principal	Interest	Total Payment Due
2021	$ -	$ 436,375	$ 436,375
2022	-	436,375	436,375
2023	-	436,375	436,375
2024	4,000	436,375	440,375
2025	16,000	436,167	452,167
2026	31,000	435,335	466,335
2027	32,000	433,723	465,723
2028	48,000	432,059	480,059
2029	51,000	429,563	480,563
2030	68,000	426,911	494,911
2031	71,000	423,375	494,375
2032	90,000	419,683	509,683
2033	94,000	415,003	509,003
2034	115,000	410,115	525,115
2035	121,000	404,135	525,135
2036	143,000	397,843	540,843
2037	150,000	390,407	540,407
2038	174,000	382,607	556,607
2039	183,000	373,559	556,559
2040	209,000	364,043	573,043
2041	220,000	353,175	573,175
2042	249,000	341,735	590,735
2043	262,000	328,787	590,787
2044	293,000	315,163	608,163
2045	309,000	299,927	608,927
2046	343,000	283,859	626,859
2047	361,000	266,023	627,023
2048	398,000	247,251	645,251
2049	419,000	226,555	645,555
2050	460,000	204,767	664,767
2051	484,000	180,847	664,847
2052	529,000	155,679	684,679
2053	557,000	128,171	685,171
2054	606,000	99,207	705,207
2055	638,000	67,695	705,695
2056	663,822	34,510	698,332
Total	$ 8,391,822	$ 11,853,379	$ 20,245,201