The most recent outstanding Grand Parkway System toll revenue obligations issued by the Grand Parkway Transportation Corporation (Corporation) are listed in the table below.
The outstanding obligations of the Corporation are not obligations of the Texas Department of Transportation (TxDOT) or the Texas Transportation Commission. The outstanding Series 2013B, 2013E, 2018A, 2020B, and 2023 obligations are supported by a toll equity loan agreement (TELA) between the Corporation and TxDOT. This means TxDOT has committed to make a loan available in respect of certain project costs, certain operation and maintenance costs, and certain major maintenance costs in the event the revenues of the project are insufficient for those purposes and satisfying debt service on the TELA-supported bonds. Advances by TxDOT under the TELA are subject to legislative appropriation and certain other limitations.
The Corporation has received federal government financing under the Transportation Infrastructure Finance and Innovation Act (TIFIA). A TIFIA loan (2014 TIFIA Loan) and related Second Tier Note closed on Feb. 6, 2014, and TIFIA disbursed the loan proceeds to TxDOT on Dec. 13, 2016. The Corporation prepaid the 2014 TIFIA in full on Feb. 27, 2020. The Corporation closed a second TIFIA loan (2019 TIFIA Loan) and related First Tier Note on Feb. 21, 2019, which the Corporation replaced with a TIFIA loan that closed on Aug. 19, 2021 (2021 TIFIA Loan).
Grand Parkway System toll revenue obligations
For most recent reports and official statements for more information, see the issuer’s homepage on Electronic Municipal Market Access (EMMA).
1 Debt supported by the TELA.
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