Featured Municipal Bond Issue, Week of March 5, 2018: Clear Creek TX Independent School District – Unlimited Tax School Building Bonds – $150 Million

The Clear Creek Independent School District is issuing $150 million in unlimited tax bonds the week of March 05, 2018. The bonds are being issued as a single series, Series 2018, and are direct obligations of the District. Interest on the bonds is excluded from gross income for federal income tax purposes.

Bond proceeds will be used for construction, acquisition, and equipping of school buildings in the District, the purchase of sites for buildings, and the purchases of new school buses. Security is a direct obligation of the district to pay principal and interest from an annual ad valorem property tax, without limit to rate or amount. Additionally, the District has received conditional approval from the Texas Education Agency for the payment of the bonds to be guaranteed by the corpus of the Permanent School Fund of the State of Texas.

Details on the purposes, tax-status, security, as well as other matters pertaining to these Clear Creek TX ISD bonds can be found in the preliminary official statement, available on MuniOS.

Clear Creek ISD exists within the Houston-The Woodlands-Sugar Land, TX Metropolitan Area. As of December 2017, the Houston Metropolitan Area has an unemployment rate of 4.3%, which is 0.2% higher than the national rate for December, and 0.9% lower than at the same time in 2016. MuniNet provides this data and more, easily accessible, for all 50 states and each Metropolitan Statistical Area in the country, in our Employment Database.

Provided at left (click to expand) is a quick snapshot of financial characteristics of Clear Creek ISD as of 06/30/2016, compared with the 2016-2017 medians for other school districts, courtesy of Merritt Research Services, LLC. Merritt has many of the sector medians publicly available and regularly updated on their Benchmark Central page. (Merritt believes the data to be reliable but does not make any representations as to its accuracy or completeness)In addition to the Merritt information related to the featured bond, more information can be found on our municipal bond calendar, city, state, and county pages, and our employment database.

These facts and numbers are for informational purposes, and should not be considered an official disclosure for potential investors. Investors should consult the official statement. None of the information provided should be construed as a recommendation by MuniNet Guide, MuniNet LLC, Merritt Research Services LLC, or any of their employees. Information and analysis is for informational purposes only.

by Jeffrey L Garceau