Highway Improvement General Obligation (HIGO) Bonds
Texas Department of Transportation
Connecting You With Texas
  • Family
  • Jobs
  • Education
  • Opportunities
  • Attractions
  • Entertainment
  • Wide Open Spaces
  • History
  • Quality of Life
  • Sports
  • Parks
  • Shopping
  • Services
  • People
  • Wildflowers
  • BBQ
  • Shores
  • Schools
  • Rodeos
  • Music
  • Tacos
  • Adventure
  • Trails
  • Traditions
  • Safely
  • Sunsets
  • Culture
  • Festivals
  • Friends
  • Life
  • Possibilities
  • Legends


On Nov. 6, 2007, Texas voters approved a constitutional provision authorizing the Texas Transportation Commission to issue general obligation bonds of the State of Texas in an aggregate principal amount not to exceed $5 billion to fund transportation improvement projects. The general obligation bonds include the Highway Improvement General Obligation, or "HIGO Bonds," also known as the Proposition 12, or "Prop 12 Bonds."

HIGO Bond Series Currently Outstanding

Series CUSIP Base No. Fitch Kroll Moody's S&P Official Statement
2020 882830 AAA AAA Aaa Not Rated
2019 882724 AAA AAA1 Aaa AAA
2016-A 882723 AAA AAA1 Aaa AAA
2016 882723 AAA AAA1 Aaa AAA
2014 882723 AAA AAA1 Aaa AAA
2012-A 882722 AAA AAA1 Aaa AAA
2010-A2 882722 AAA AAA1 Aaa AAA

1Rating was provided as part of the Series 2020 issuance.
2Taxable Build America Bonds.


Each document contained in this section of the Commission website is marked with a Dated Date and speaks only as of that Dated Date. Except as otherwise disclosed in any Official Statement or other document, the Commission expressly disclaims any duty to update any document (or any portion of any document) contained in this section. The information and documents in this section are provided for informational purposes only, and must not be considered to be an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

More Information




Copyright 2021  •  Texas Department of Transportation  •  All Rights Reserved  •  Disclaimer  •  Privacy & Security Policy  •  Accessibility
125 East 11th Street  •  Austin, Texas 78701