Debt

The Port of Houston Authority (“Port Houston”) is pleased to provide information on its outstanding debt obligations as part of its commitment to financial transparency. It understands the importance of the Public Trust, and strives to assure that all funds received from public support are used wisely for the best return on investment. Port Houston has prepared a spreadsheet, included in the “Summary” section below, to comply with the requirements of HB 1378 and Section 140.008, Texas Local Government Code, relating to disclosure of debt information.

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Port Houston generates positive operating cash flows (i.e., its operating revenues exceed its operating expenses), and uses those excess funds for capital infrastructure investments.  At times, when the projected cash flow is insufficient to fully cover the capital improvement plan, Port Houston has obtained approval at a bond election for issuance of ad valorem general obligation tax bonds to supply the shortfall.  Property taxes are levied annually to cover the principal and interest debt service payments due on outstanding tax bonds.

The proceeds of past tax bond issuances have been applied towards dredging of the Houston Ship Channel, acquisition of wharf cranes and other major equipment, as well as construction of docks, wharves and container facilities. Port Houston is appreciative of the continued support of taxpayers, labor, industry partners, shippers, officials from local jurisdictions, and many others who have made these capital improvements possible.  Such investments contribute to job creation and economic development for the region, state and nation.

Should you have any questions on any of the transparency documents posted on this website, you may submit them online, by clicking on the “Contact us” link at the bottom of this page, or contact the Port Authority’s Treasury Department at 713-670-2405 or 713-670-2555. Please note that records older than the information shown below may be located in the Archive.

The above tax-supported debt is net of premium / (discount). Port Houston had no outstanding revenue-supported debt during this period.

Tax-supported debt is adjusted for inflation based on the Consumer Price Index (CPI), as published by the Bureau of Labor Statistics.  Per capita figures are based on Harris County population.

 

The following documents are available to download in PDF* or Excel format:

Summary

The following provide summary debt information at specific dates, including pages extracted from Port Houston’s Comprehensive Annual Financial Reports (CAFR).

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Debt Obligations Summary 2019-1231
Debt Obligations Summary 2018-1231
Debt Obligations Summary 2017-1231
Debt Obligations Summary 2016-1231
Debt Obligations Summary 2016-0801
Tax and Revenue Supported Debt 2015-2019 (Excel)
Tax and Revenue Supported Debt 2014-2018 (Excel)
Tax and Revenue Supported Debt 2013-2017 (Excel)
Tax and Revenue Supported Debt 2012-2016 (Excel)
Tax and Revenue Supported Debt 2011-2015 (Excel)
Tax Supported Debt per Capita 2015-2019 (Excel) 
Tax Supported Debt per Capita 2014-2018 (Excel)
Tax Supported Debt per Capita 2013-2017 (Excel)
Tax Supported Debt per Capita 2012-2016 (Excel)
Tax Supported Debt per Capita 2011-2015 (Excel)
Debt Info 2019-1231
Debt Info 2018-1211
Debt Info 2018-0630
Debt Info 2017-1231
Debt Info 2016-1231
Debt Info 2015-1231
Debt Info 2015-0728
Debt Info 2015-0630
Debt Obligations Star 2016-1214
HB 1378 Debt Info 2019-1231 (Excel)
HB 1378 Debt Info 2018-1231 (Excel)
HB 1378 Debt Info 2017-1231 (Excel)
HB 1378 Debt Info 2016-1231 (Excel)
Paying Agent Disclosure 2008-1023


Disclaimers

Notice and Disclaimer: Information on this website is provided for general informational purposes only and not as a source of investor information. Investor information, including official statements and continuing disclosure, is publicly available on the Municipal Securities Rulemaking Board’s Electronic Municipal Market Access System (“EMMA”) website. No person should make an investment decision in reliance on the information on this website, nor does anything contained on this website constitute an offer to sell securities or the solicitation of an offer to buy securities. Information on this website, including any reports or other documents, contained on this website speak only as of its date. By choosing to view the information on this website you are acknowledging that you have read and understood and accept the terms of this Notice and Disclaimer.

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Disclaimers 2019-0430
Disclaimers 2018-0417
Disclaimers 2017-0426
Disclaimers 2016-0428
Disclaimers 2015-0728
Disclaimers 2015-0501


Bond Election Pledge

Port Houston has pledged to post on its website the details of any bond package and existing debt information no later than one business day after public notice of a bond election.

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Bond Election Pledge 2015-0529


Official Statements

Issuers prepare offering materials so that investors may better assess the risks of owning the issuers’ bonds. The following are the Official Statements for all of Port Houston’s outstanding tax bonds.

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Official Statement Series 2020A1 2020A2 2020B
Official Statement Series 2018A
Official Statement Series 2015A 2015B 2015C
Official Statement Series 2011A
Official Statement Series 2010D1 2010D2 2010E
Official Statement Series 2010A 2010B 2010C


Debt Service Schedules

The following schedules provide information on the principal and interest debt service payments due semiannually (April 1 and October 1) on Port Houston’s outstanding tax bonds.  Amounts are shown in the aggregate and by individual bond series.

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Debt Service Schedule 2020
Debt Service Schedule 2019
Debt Service Schedule 2018
Debt Service Schedule 2018 to 2039
Debt Service Schedule 2017
Debt Service Schedule 2016
Debt Service Schedule 2016 to 2039
Debt Service Schedule 2015
Debt Service Schedule 2014
Debt Service Schedule 2012 to 2039


Credit Ratings

Notice and Disclaimer: The U.S. Securities and Exchange Commission (www.sec.gov) is responsible for the oversight of credit rating agencies registered as nationally recognized statistical rating organizations (“NRSROs”).  Ratings and ratings reports reflect only the views of the NRSROs providing the reports or the ratings, and Port Houston makes no representation as to the appropriateness of the ratings or the information and conclusions contained in the reports. There is no assurance that such ratings will continue for any given period of time or that they will not be revised downward or withdrawn entirely by such agencies. For information regarding the ratings and the ratings reports or actions that may have taken place subsequent to the dates of the reports, readers should contact the NRSROs. Port Houston is not undertaking any obligation to update the ratings information.

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Credit Ratings Disclosure 2017-1206
Credit Ratings Disclosure 2017-0804
Credit Ratings Disclosure 2017-0626
Fitch 2020-0330
Fitch 2019-0607
Fitch 2018-0525
Fitch 2017-0804
Fitch 2017-0512
Fitch 2015-0706
Fitch 2015-0630
Moody’s 2018-0605
Moody’s 2018-0604
Moody’s 2015-1008
Standard and Poor’s 2020-0331
Standard and Poor’s 2018-0607
Standard and Poor’s 2015-0706


Tax Information

Debt service on Port Houston outstanding tax bonds is funded entirely from ad valorem taxes levied by the Harris County Commissioners Court on behalf of Port Houston. Taxes are invoiced and collected by the Harris County Tax Assessor-Collector, which charges a fee for those services. Tax revenues are deposited in a segregated Debt Service Fund restricted for such debt service payments, therefore, tax revenues and debt service payments are excluded from Port Houston’s operating budgets.

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Tax Rates 2010-2019
Tax Rates 2009-2018
Tax Rates 2008-2017
Tax Rates 2007-2016
Tax Rates 2006-2015
Tax Levies and Collections 2010-2019
Tax Levies and Collections 2009-2018
Tax Levies and Collections 2008-2017
Tax Levies and Collections 2007-2016
Tax Levies and Collections 2006-2015


Other Debt Information

Notice and Disclaimer: Reports prepared by third parties and links to third party websites are provided herein solely as a convenience. Port Houston has no control over the content of those sites, nor does it endorse or make any representations or accept responsibility about them, or any information or other matters found on those sites.

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Municipal Advisor Rule Exemption Certificate 2020-0630

Texas Municipal Report PHA Debt 2020-0924
Texas Municipal Report PHA Debt 2020-0407
Texas Municipal Report PHA Debt 2019-0521
Texas Municipal Report PHA Debt 2018-1024
Texas Municipal Report PHA Debt 2018-0713
Texas Municipal Report PHA Debt 2018-0607
Texas Municipal Report PHA Debt 2017-0811
Texas Municipal Report PHA Debt 2016-0610
Texas Municipal Report PHA Debt 2015-0610

Link to EMMA® (Electronic Municipal Market Access)
Link to TexasTransparency.org
Link to Texas Comptroller of Public Accounts Debt at a Glance Tool
Link to Texas Bond Review Board – Local Government Debt Database


*  PDF documents are available in Adobe Portable Document Format. If you do not have Adobe Acrobat Reader, you may obtain a free copy of the software

 

 

 

 

 

 

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