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The following schedule sets forth the debt service requirements of the Outstanding Bonds and the principal and estimated interest requirements of the Bonds.

Year OutstandingBonds

The Bonds Principal (Due 9-1) Interest * Total Debt Service Requirements 2021 795,125 $65,000 $254,844 $1,114,969 2022 793,575 65,000 434,438 1,293,013 2023 791,725 70,000 432,000 1,293,725 2024 794,575 70,000 429,375 1,293,950 2025 795,925 75,000 426,750 1,297,675 2026 799,675 75,000 423,938 1,298,613 2027 808,188 65,000 421,125 1,294,313 2028 805,775 70,000 418,688 1,294,463 2029 807,813 75,000 416,063 1,298,876 2030 814,125 70,000 413,250 1,297,375 2031 814,513 75,000 410,625 1,300,138 2032 839,175 50,000 407,813 1,296,988 2033 850,038 45,000 405,938 1,300,976 2034 629,500 265,000 404,250 1,298,750 2035 626,700 280,000 394,313 1,301,013 2036 623,300 295,000 383,813 1,302,113 2037 624,300 305,000 372,750 1,302,050 2038 649,500 295,000 361,313 1,305,813 2039 649,250 305,000 350,250 1,304,500 2040 653,250 315,000 338,813 1,307,063 2041 651,313 330,000 327,000 1,308,313 2042 653,625 345,000 314,625 1,313,250 2043 1,010,000 301,688 1,311,688 2044 1,055,000 263,813 1,318,813 2045 1,100,000 224,250 1,324,250 2046 1,145,000 183,000 1,328,000 2047 1,195,000 140,063 1,335,063 2048 1,245,000 95,250 1,340,250 2049 ___________ 1,295,000 48,563 1,343,563 $16,270,965 $11,650,000 $9,798,601 $37,719,566

* Interest is estimated at 3.75% per annum for purposes of illustration.

Average Annual Requirements (2021-2049) . . . .. . $ 1,300,675 Maximum Annual Requirement (2049) . . . $ 1,343,563

36 Bonded Indebtedness

2020 Assessed Valuation ... $ 232,065,051 (a) (As of January 1, 2020)

See“TAX DATA”and“TAXING PROCEDURES”

Estimated Valuation at November 1, 2020... $ 270,408,798 (b) (As of November 1, 2020)

See“TAX DATA”and“TAXING PROCEDURES”

Direct Debt:

Outstanding Bonds... $ 11,125,000 The Bonds ... 11,650,000 Total ... $ 22,775,000 (c) Estimated Overlapping Debt ... $ 11,266,135 Total Direct and Estimated Overlapping Debt ... $ 34,041,135 Direct Debt Ratios

: as a percentage of 2020 Assessed Valuation... 9.81 % : as a percentage of Estimated Valuation at November 1, 2020... 8.42 % Direct and Overlapping Debt Ratios

: as a percentage of 2020 Assessed Valuation... 14.67 % : as a percentage of Estimated Valuation at November 1, 2020... 12.59 % Debt Service Fund Balance estimated as of the Date of Delivery of the Bonds... $ 1,479,364 (d) General Fund Balance as of December 16, 2020... $ 886,785 2020 Tax Rate per $100 of Assessed Valuation

Debt Service Tax... $ 0.47 Maintenance Tax... 0.28 Total ... $ 0.75 (e)

(a) As of January 1, 2020, and comprises the District's 2020 tax roll. All property located in the District is valued on the tax rolls by the Chambers County Appraisal District (the“Appraisal District”) at 100% of assessed value as of January 1 of each year. The District's tax roll is certified by the Chambers County Appraisal Review Board (the“AppraisalReview Board”). See“INVESTMENTCONSIDERATIONS- FactorsAffecting Taxable Values and Tax Payments”and“TAXING PROCEDURES.”

(b) Provided by the Appraisal District for informational purposes only, this amount is an estimate of the value of all taxable property located within the District as of November 1, 2020, and includes an estimate of values resulting from the construction of taxable improvements from January 1, 2020, through October 31, 2020. No taxes were levied for 2020 against any values added since January 1, 2020. The ultimate Assessed Valuation of any land and improvements added from January 1, 2020, through October 31, 2020, which will be placed on the District's 2021 tax roll, may vary significantly from such estimate once the Appraisal Review Board certifies the value thereof in 2021.

(c) In addition to the components of the System and Impact Fees that the District has financed with the proceeds of the Prior Bonds and is financing with the proceeds of the Bonds, the District expects to finance the acquisition or construction of additional components of the System and Impact Fees with the proceeds of bonds, if any, to be issued by the District in the future. See“THE BONDS - Issuance of Additional Debt”and -“Use and Distribution of Bond Proceeds,” “FUTURE DEVELOPMENT,” “THE SYSTEM” and “INVESTMENT CONSIDERATIONS - Future Debt.”

(d) Neither Texas law nor the Bond Order requires the District to maintain any particular sum in the Debt Service Fund. The District will capitalize 12-months of interest payments on the Bonds and deposit such amount in the Debt Service Fund on the date of delivery of the Bonds. Such fund balance also reflects the timely payment by the District of the entirety of its debt service requirements on the Outstanding Bonds that were due for 2020. The initial payment on the Bonds consists of the payment of seven months of interest thereon due on September1, 2021.

(e) The District levied a debt service tax in the amount of $0.47 per $100 ofAssessed Valuation for 2020, plus a maintenance tax of $0.28 per $100 of Assessed Valuation As is described in this Official Statement under the caption “TAX DATA - Estimated Overlapping Taxes,”the aggregate of the 2020 tax levies of all units of government which levy taxes against the property located within the District, plus the 2020 tax of the District is $2.86069 per $100 of Assessed Valuation. Such aggregate levy is higher than the aggregate of the tax levies of some municipal utilitydistricts located in the greater Houston metropolitan area, but is within the range of the aggregate tax levies of municipal utility districts in the Houston metropolitan area which are in stages of development comparable with the District. See “INVESTMENT CONSIDERATIONS - Factors Affecting Taxable Values and Tax Payments.”

38 Estimated Direct and Overlapping Debt Statement

Other governmentalentitieswhose boundaries overlap theDistricthaveoutstandingbondspayablefromadvalorem taxes. The following statement of direct and estimated overlapping ad valorem tax debt was developed from information contained in“Texas Municipal Reports,”published by the Municipal Advisory Council of Texas, or other available information. Except for the amount relating to the District, the District has not independently verified the accuracy or completeness of such information, and no person is entitled to rely upon such information as being accurate or complete. Furthermore, certain of the entities listed below may have issued additional bonds since the dates stated in this table, and such entities may have programs requiring the issuance of substantial amounts of additional bonds, the amount of which cannot presently be determined. Political subdivisions overlapping the District are authorized by Texas law to levy and collect ad valorem taxes for operation, maintenance and/or general revenue purposes in addition to taxes for payment of their debt, and some are presently levying and collecting such taxes.

Debt as of Estimated Overlapping

Taxing Jurisdiction December 1, 2020 Percent Amount

Chambers County $51,335,000 2.00% $1,027,705

Goose Creek Consolidated Independent

School District 665,386,000 1.45 9,673,085

Lee College District 39,460,000 1.43 565,345

Total Estimated Overlapping Debt $11,266,135

The District (the Bonds and the Outstanding

Bonds) $22,775,000

Total Direct & Estimated Overlapping Debt $34,041,135

Debt Ratios

% of Estimated % of 2020 Valuation at Assessed Valuation November 1, 2020

Direct Debt 9.81% 8.42%

Direct and Estimated Overlapping Debt 14.67% 12.59%

TAX DATA