The purpose of the Grand Parkway Project is to improve the transportation network and level of service in the Houston–Sugar Land–Baytown metropolitan area. It will relieve traffic and congestion on the surrounding major roadways including, but not limited to, I-10, I-45, US 59 and US 290. Upon completion of all segments, the Grand Parkway Project will be the largest loop serving the region.
The Grand Parkway Transportation Corporation (GPTC) obligations were issued in part to finance the costs of the Grand Parkway System. The GPTC obligations are supported by a Toll Equity Loan Agreement (TELA) with TxDOT but are not otherwise obligations of the Texas Transportation Commission or TxDOT.
GPTC Grand Parkway System Toll Revenue Bond Series
|Principal Amount Issued (in thousands)
||Not rated||SP-1+||*2014 OS*|
||Not rated||Not rated||AA+||n/a3|
|2014C1,2,3||38611T||$107,180||Not rated||Not rated||AA+||n/a3|
|2013A||38611T||$200,000||BBB+||Not rated||BBB||*2013 OS*|
|2013B1||38611T||$1,414,935||AA-||Not rated||AA+||*2013 OS*|
|2013E1||38611T||$361,810||AA-||Not rated||AA+||*2013 OS*|
1Debt supported by the TELA.
2The Corporation anticipates retiring this with the proceeds of refunding bonds, or if drawn upon, proceeds of a TIFIA loan.
3Series 2014B and 2014C were privately placed with financial institutions and do not have Official Statements.
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