The 84th Legislature passed HB 1378 to increase the transparency of local government debt. Under Local Government Code Sec. 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.
The total amount of tax-supported debt for the City of Rowlett as of September 30, 2022 is $105,000,000; revenue-supported debt is $40,865,000; and financed purchases is $4,122,325. Detailed information for the outstanding obligations can be viewed in spreadsheet format or in booklet format.
The City of Rowlett is reviewed by two separate rating agencies.
Standard & Poor’s General Obligation Rating: AA
Standard & Poor’s Revenue Rating: AA-
Moody’s General Obligation Rating: Aa2
Moody’s Revenue Rating: Aa3
In 2015, the City of Rowlett began utilizing a three-year bonding strategy, with bond elections held in 2015, 2018, and 2021. As part of this strategy, the Community Investment Advisory Board (CIAB) gathers information regarding community needs, citizen desires, and service expansion for the City, and provides recommendations to the City Council for these bond elections. The next bond election within this strategy is planned in 2024.
Upcoming Bond Election Information
The Rowlett City Council will hold a special meeting in February 2023 to call for a Special Bond Election. More information will be provided at that time.