Transaction Details

Par Amount:

$33,369,311

Interest Rate:

6.625%

Closing Date:

10/08/2025

Debt Structure:

Capital Appreciation Bonds

Pledged Revenue:

Proceeds from the sale of bonds from Driftwood Conservation District

Use of Proceeds:

Funding of eligible public improvements

Driftwood Golf and Ranch Club

Hays County

  • Driftwood Golf and Ranch Club is an 828-acre luxury resort community located within the extra-territorial jurisdiction of the City of Dripping Springs within Hays County. The Project is entirely located within Driftwood Conservation District.
  • The Project is being developed by Discovery Land Company.
  • At full build out, the Project is anticipated to include 316 residential lots and high-end amenities including a private 18-hole golf course designed by Tom Fazio, swimming complex, concert venue, a community garden and greenhouse, various sport courts, and restaurants.
  • At the time of issuance:
    • 88% of the lots were finished.
    • 65% of the lots have been sold to end users.
    • 22% of the units are complete or under vertical construction.
    • 37% of the reimbursable budget has been spent.