Honorable Geanie Morrison, Chair, House Committee on Higher Education
John Keel, Director, Legislative Budget Board
HB3350 by Davis, John (Relating to authorizing the issuance of revenue bonds for the University of Houston System.), As Introduced
|Fiscal Year||Probable Net Positive/(Negative) Impact to General Revenue Related Funds|
|Fiscal Year||Probable Savings/(Cost) fromGENERAL REVENUE FUND
It is assumed the bonds would be issued during fiscal year 2004 at a 5.75 percent interest rate with a 20-year level debt service amortization. Based on calculations prepared by the Texas Public Finance Authority, the amount of debt service payments, including principal and interest, would be $2,043,611 for fiscal year 2004 and would be $2,138,975 for fiscal year 2005. If debt service payments were for interest only, the costs would be $1,373,611 in fiscal year 2004 and $1,398,975 in fiscal year 2005. The total estimated amount of debt service (principal and interest from fiscal year 2004 to fiscal year 2023 is estimated to be $42,665,949.
No amounts are included for operations and maintenance costs related to additional facilities. Operations and maintenance costs are provided to institutions of higher education based on predicted square feet not actual square feet. However, if the increased space resulted in an increase in predicted square feet, operations and maintenance cost would increase.
347 Public Finance Authority, 352 Bond Review Board, 781 Higher Education Coordinating Board, 783 University of Houston System Administration
JK, JO, CT, PF