Transaction Details

Par Amount:

$13,320,000

Interest Rate:

5.875%

Closing Date:

03/06/2024

Debt Structure:

Current Interest Bonds

Pledged Revenue:

Proceeds from the sale of bonds from Wayside Municipal Utility District

Use of Proceeds:

Reimbursement of eligible public improvements
Aerial of Wayside Project

Wayside

Hays County

  • Wayside is a 187-acre mixed-use development located in the City of Uhland, Texas, approximately 33 miles south of Austin. Wayside is entirely located within Wayside Municipal Utility District.
  • The project is being developed by Ranch Road Development Group.
  • At full build out, Wayside is anticipated to include 794 single-family residential units and 2 acres of commercial.
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  • At the time of issuance:
    • 7% of the anticipated units were under vertical construction by D.R. Horton.
    • D.R. Horton had closed on 18% of the anticipated lots and were under contract for the remainder.
    • $8M of eligible infrastructure costs had been spent and a total of $17M still remained to be reimbursed to the Developer.