Standard & Poor’s has affirmed its AAA rating on the Dallas County Community College District’s outstanding debt and its upcoming $110 million general obligation bond sale.
The issue is from an authorization for $450 million of GOs approved by voters in November 2004. The district has issued $290 million of the debt; the remaining $50 million is expected to be sold in 2010.
Taxable assessed value in the district, which is coterminous with Dallas County, has grown from $132 billion in fiscal 2004 to $177.5 billion in fiscal 2009. Enrollment at the district’s 12 campuses totals nearly 65,000 students.
In 2008 the district collected property taxes totaling $121 million of operating revenue and $13.4 million for debt service on the 2004 bonds, as well as a series of maintenance tax notes that mature in 2013.
The college district also has triple-A ratings from Moody’s Investors Service and Fitch Ratings.