North East Independent School District Debt-Related Disclosures Required by Texas Local Government Code As of June 30, 2017

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1 DebtRelated Code Total Authorized Debt Obligations School Building Bonds $ 1,397,409,000 Refunding Bonds 984,125,000 Limited Maintenance Tax Qualified School Construction Notes 37,545,000 Total Authorized Debt Obligations $ 2,419,079,000 Total Principal of All Outhstanding Obligations $ 1,363,145,000 Combined Principal & Interest Payments Remaining $ 2,090,085,346 Total Authorized Debt Obligations Secured by Ad Valorem Taxes $ 2,419,079,000 Total Principal of Debt Obligations Secured by Ad Valorem Taxes $ 1,363,145,000 Combined Principal & Interest Payments Remaining of Debt Obligations Secured by Ad Valorem Taxes $ 2,090,085,346 Total Authorized Debt Obligations Secured by Ad Valorem Taxes per Capita (1) $ 5,572 Total Principal of Debt Obligations Secured by Ad Valorem Taxes per Capita (1) $ 3,140 Combined Principal & Interest Payments Remaining of Debt Obligations Secured by Ad Valorem Taxes per Capita (1) $ 4,815 Population Estimate Used to Calculate per Capita Amounts 434,116 (1) Per Capita population estimate from the U.S. Census Bureau's American Community Survey, 1Year Estimate for 2015, Table B Direct any questions regarding these disclosures to Brian Moy, Executive Director of Finance & Accounting, at bmoy@neisd.net.

2 Remaining Principal & Interest Payments on Debt Obligations and Other Disclosures By Issue Unlimited Tax Refunding Bonds, Series 2007 Unlimited Tax School Building Bonds, Series 2007A Unlimited Tax School Building & Refunding Bonds, Series $ $ 12,433,050 $ 12,433,050 $ 11,370,000 $ 284,250 $ 11,654,250 $ 14,920,000 $ 5,690,000 $ 20,610, ,433,050 12,433,050 15,605,000 4,926,875 20,531, ,840,000 12,433,050 20,273,050 11,555,000 4,247,875 15,802, ,220,000 12,021,450 20,241,450 1,950,000 3,910,250 5,860, ,540,000 11,589,900 25,129,900 2,055,000 3,810,125 5,865, ,245,000 10,879,050 25,124,050 2,160,000 3,704,750 5,864, ,035,000 10,131,187 23,166,187 2,265,000 3,594,125 5,859, ,110,000 9,446,850 19,556,850 15,430,000 3,344,625 18,774, ,155,000 8,916,075 31,071,075 12,855,000 2,894,650 15,749, ,830,000 7,752,938 34,582,938 2,480,000 2,587,950 5,067, ,670,000 6,344,362 31,014,362 2,580,000 2,473,850 5,053, ,065,000 5,049,188 31,114,188 2,710,000 2,341,600 5,051, ,675,000 3,680,775 21,355,775 2,845,000 2,202,725 5,047, ,550,000 2,752,837 15,302,837 2,985,000 2,056,975 5,041, ,800,000 2,093,963 10,893,963 3,140,000 1,903,850 5,043, ,650,000 1,631,963 15,281,963 3,295,000 1,742,975 5,037, ,090, ,338 15,005,338 3,460,000 1,591,400 5,051, ,345, ,612 3,520,612 3,595,000 1,450,300 5,045, ,740,000 1,303,600 5,043, ,890,000 1,151,000 5,041, ,045, ,300 5,037, ,205, ,300 5,032, ,375, ,700 5,030, ,550, ,200 5,027, ,730, ,600 5,021, ,925,000 98,500 5,023, Totals $ 236,820,000 $ 130,680,638 $ 367,500,638 $ 11,370,000 $ 284,250 $ 11,654,250 $ 140,345,000 $ 60,272,100 $ 200,617, ,795, ,590, ,610,000 9,975,000 82,420,965 40,265, ,800, ,820,000 11,370, ,345,000 Final Maturity Date 2/1/2035 Final Maturity Date 8/1/2017 Final Maturity Date 8/1/2042 Mandatory Tender Date n/a Mandatory Tender Date n/a Mandatory Tender Date n/a 246,795, ,988, ,759, ,795, ,988, ,759,930 Purpose Refund a portion of the District's outstanding bonds for debt Purpose (i) Designing, constructing, renovating, acquiring, and equipping Purpose service savings and to pay the costs of issuing the Bonds. new and existing school buildings in the District, purchasing new school buses, and acquiring land for school facilities and (ii) paying the costs of issuing the Bonds. (i) Designing, constructing, renovating, acquiring, and equipping school facilites & purchase of new school buses, (ii) refunding a portion of the District's outstanding bonds for debt service savings, and (iii) paying the costs of issuing the Bonds.

3 Remaining Principal & Interest Payments on Debt Obligations and Other Disclosures By Issue Unlimited Tax School Building Bonds, Series 2013 Variable Rate Unlimited Tax School Building Bonds, Series 2013A (2) (2014 Remarketing) Variable Rate Unlimited Tax School Building Bonds, Series 2013B (2) (2016 Remarketing) 2018 $ 1,060,000 $ 2,734,850 $ 3,794,850 $ 1,310,000 $ 1,284,800 $ 2,594,800 $ 1,305,000 $ 815,684 $ 2,120, ,095,000 2,697,050 3,792,050 1,375,000 2,813,200 4,188,200 1,370, ,691 2,166, ,135,000 2,652,450 3,787,450 1,440,000 4,304,300 5,744,300 1,440, ,740 2,216, ,180,000 2,600,250 3,780,250 1,515,000 4,200,875 5,715,875 1,510, ,795 2,265, ,240,000 2,539,750 3,779,750 1,590,000 4,092,200 5,682,200 1,585,000 2,153,512 3,738, ,305,000 2,476,125 3,781,125 1,670,000 3,978,100 5,648,100 1,665,000 3,503,675 5,168, ,370,000 2,409,250 3,779,250 1,755,000 3,858,225 5,613,225 1,750,000 3,384,150 5,134, ,435,000 2,339,125 3,774,125 1,840,000 3,732,400 5,572,400 1,835,000 3,258,675 5,093, ,510,000 2,265,500 3,775,500 1,930,000 3,600,450 5,530,450 1,930,000 3,126,900 5,056, ,585,000 2,188,125 3,773,125 2,030,000 3,461,850 5,491,850 2,025,000 2,988,475 5,013, ,665,000 2,106,875 3,771,875 2,130,000 3,316,250 5,446,250 2,125,000 2,843,225 4,968, ,745,000 2,021,625 3,766,625 2,235,000 3,163,475 5,398,475 2,235,000 2,690,625 4,925, ,835,000 1,932,125 3,767,125 2,350,000 3,003,000 5,353,000 2,345,000 2,530,325 4,875, ,925,000 1,838,125 3,763,125 2,465,000 2,834,475 5,299,475 2,460,000 2,362,150 4,822, ,020,000 1,739,500 3,759,500 2,590,000 2,657,550 5,247,550 2,585,000 2,185,575 4,770, ,120,000 1,636,000 3,756,000 2,720,000 2,471,700 5,191,700 2,715,000 2,000,075 4,715, ,230,000 1,527,250 3,757,250 2,855,000 2,276,575 5,131,575 2,850,000 1,805,300 4,655, ,340,000 1,413,000 3,753,000 3,000,000 2,071,650 5,071,650 2,995,000 1,600,725 4,595, ,455,000 1,293,125 3,748,125 3,150,000 1,856,400 5,006,400 3,140,000 1,386,000 4,526, ,580,000 1,167,250 3,747,250 3,305,000 1,630,475 4,935,475 3,300,000 1,160,600 4,460, ,710,000 1,035,000 3,745,000 3,470,000 1,393,350 4,863,350 3,465, ,825 4,388, ,845, ,125 3,741,125 3,645,000 1,144,325 4,789,325 3,635, ,325 4,310, ,985, ,375 3,735,375 3,825, ,875 4,707,875 3,820, ,400 4,234, ,135, ,375 3,732,375 4,015, ,475 4,623,475 4,010, ,350 4,150, ,295, ,625 3,731,625 4,220, ,250 4,540, ,455, ,875 3,722,875 2,465,000 86,275 2,551, ,630,000 90,750 3,720, Totals $ 55,885,000 $ 45,651,475 $ 101,536,475 $ 64,895,000 $ 65,043,500 $ 129,938,500 $ 58,095,000 $ 44,278,797 $ 102,373,797 58,905,000 75,000,000 73,795,000 3,020,000 10,105,000 15,700,000 55,885,000 64,895,000 58,095,000 Final Maturity Date 8/1/2043 Final Maturity Date 8/1/2042 Final Maturity Date 8/1/2042 Mandatory Tender Date n/a Mandatory Tender Date 8/1/2018 Mandatory Tender Date 8/1/ ,285,000 74,945,000 75,000,000 63,285,000 74,945,000 75,000,000 Purpose (i) Acquire, construct, renovate, improve and equip various Purpose (i) Acquire, construct, renovate, improve and equip various Purpose school facilities and the purchase of the new school buses and school facilities and the purchase of the new school buses and (ii) pay (ii) pay (i) Acquire, construct, renovate, improve and equip various school facilities and the purchase of the new school buses and (ii) pay

4 Remaining Principal & Interest Payments on Debt Obligations and Other Disclosures By Issue June 30 Principal Unlimited Tax Refunding Bonds, Series 2014 Interest Total Principal Unlimited Tax Refunding Bonds, Series 2014A Interest Total Principal Unlimited Tax Refunding Bonds, Series 2014B Interest Total 2018 $ 2,215,000 $ 1,295,450 $ 3,510,450 $ 8,075,000 $ 4,529,775 $ 12,604,775 $ $ 2,934,600 $ 2,934, ,680,000 1,206,850 7,886,850 8,445,000 4,116,775 12,561,775 2,934,600 2,934, ,970, ,650 7,909,650 5,890,000 3,758,400 9,648,400 2,040,000 2,934,600 4,974, ,245, ,150 7,836,150 6,165,000 3,457,025 9,622,025 2,160,000 2,832,600 4,992, ,520, ,800 2,893,800 6,445,000 3,141,775 9,586,775 2,280,000 2,724,600 5,004, ,655, ,000 2,928,000 4,145,000 2,877,025 7,022,025 2,410,000 2,610,600 5,020, ,805, ,250 2,945,250 4,335,000 2,665,025 7,000,025 2,545,000 2,490,100 5,035, ,540,000 2,443,150 6,983,150 5,810,000 2,362,850 8,172, ,775,000 2,210,275 6,985,275 6,140,000 2,072,350 8,212, ,005,000 1,965,775 6,970,775 3,035,000 1,765,350 4,800, ,250,000 1,714,400 6,964,400 6,780,000 1,613,600 8,393, ,490,000 1,450,900 6,940,900 7,085,000 1,342,400 8,427, ,765,000 1,169,525 6,934,525 3,420,000 1,059,000 4,479, ,050, ,400 6,954,400 3,560, ,200 4,482, ,280, ,800 6,937,800 8,115, ,800 8,894, ,525, ,700 6,926,700 3,635, ,200 4,090, ,780, ,600 6,915,600 3,790, ,800 4,099, ,955, ,200 4,113, Totals $ 31,090,000 $ 4,820,150 $ 35,910,150 $ 99,960,000 $ 37,599,325 $ 137,559,325 $ 66,760,000 $ 32,302,450 $ 99,062,450 33,215, ,735,000 69,925,000 2,125,000 21,775,000 3,165,000 31,090,000 99,960,000 66,760,000 Final Maturity Date 2/1/2024 Final Maturity Date 8/1/2033 Final Maturity Date 2/1/2035 Mandatory Tender Date n/a Mandatory Tender Date n/a Mandatory Tender Date n/a 33,215, ,735,000 69,925,000 33,215, ,735,000 69,925,000 Purpose (i) Refund certain maturities of the District's currently Purpose (i) Refund certain maturities of the District's currently Purpose (i) Refund certain maturities of the District's currently

5 Remaining Principal & Interest Payments on Debt Obligations and Other Disclosures By Issue Variable Rate Unlimited Tax School Building Bonds, Series 2014 (2) Unlimited Tax Refunding Bonds, Series 2015 Unlimited Tax Refunding Bonds, Series 2015A 2018 $ 1,185,000 $ 1,371,050 $ 2,556,050 $ 2,990,000 $ 14,576,580 $ 17,566,580 $ $ 2,381,800 $ 2,381, ,245,000 1,346,750 2,591,750 14,531,730 14,531,730 3,485,000 2,381,800 5,866, ,305,000 2,956,500 4,261,500 14,531,730 14,531,730 3,635,000 2,207,550 5,842, ,370,000 4,530,750 5,900,750 14,531,730 14,531,730 3,795,000 2,025,800 5,820, ,440,000 4,432,400 5,872,400 13,670,000 14,189,980 27,859,980 7,200,000 1,836,050 9,036, ,510,000 4,329,150 5,839,150 14,355,000 13,489,355 27,844,355 7,570,000 1,476,050 9,046, ,585,000 4,220,825 5,805,825 15,075,000 12,753,605 27,828,605 3,165,000 1,097,550 4,262, ,665,000 4,107,075 5,772,075 15,825,000 11,981,105 27,806,105 3,350, ,300 4,289, ,750,000 3,987,550 5,737,550 16,615,000 11,170,105 27,785,105 3,510, ,800 4,281, ,835,000 3,862,075 5,697,075 17,445,000 10,318,605 27,763,605 3,665, ,400 4,296, ,930,000 3,730,300 5,660,300 18,325,000 9,514,355 27,839,355 3,845, ,800 4,329, ,025,000 3,591,875 5,616,875 19,055,000 8,865,169 27,920,169 4,035, ,000 4,366, ,125,000 3,446,625 5,571,625 19,615,000 8,284,979 27,899,979 4,240, ,600 4,409, ,230,000 3,294,200 5,524,200 20,215,000 7,480,475 27,695, ,345,000 3,134,075 5,479,075 21,230,000 6,444,350 27,674, ,460,000 2,965,900 5,425,900 22,290,000 5,467,800 27,757, ,585,000 2,789,325 5,374,325 23,180,000 4,558,400 27,738, ,715,000 2,603,825 5,318,825 24,110,000 3,612,600 27,722, ,850,000 2,409,050 5,259,050 25,070,000 2,629,000 27,699, ,990,000 2,204,650 5,194,650 26,075,000 1,606,100 27,681, ,140,000 1,990,100 5,130,100 27,115, ,300 27,657, ,300,000 1,764,700 5,064, ,465,000 1,527,925 4,992, ,635,000 1,279,425 4,914, ,820,000 1,018,500 4,838, ,010, ,450 4,754, ,210, ,750 4,666, ,420, ,700 4,574,700 Totals $ 69,145,000 $ 74,250,500 $ 143,395,500 $ 342,255,000 $ 191,080,053 $ 533,335,053 $ 51,495,000 $ 16,734,500 $ 68,229,500 70,825, ,185,000 51,495,000 1,680,000 2,930,000 69,145, ,255,000 51,495,000 Final Maturity Date 8/1/2044 Final Maturity Date 8/1/2037 Final Maturity Date 2/1/2030 Mandatory Tender Date 8/1/2019 Mandatory Tender Date n/a Mandatory Tender Date n/a 71,425, ,052,463 58,844,078 45,871, ,052,463 58,844,078 25,553,009 Purpose (i) Acquire, construct, renovate, improve and equip various Purpose (i) Refund certain maturities of the District's currently Purpose school facilities and the purchase of new school buses and (ii) pay (i) Refund certain maturities of the District's currently

6 Remaining Principal & Interest Payments on Debt Obligations and Other Disclosures By Issue Unlimited Tax Refunding Bonds, Series 2016 Limited Maintenance Tax Qualified School Construction Notes, Taxable Series 2010 (1) Unlimited Tax Commercial Paper Program 2018 $ 11,640,000 $ 1,587,850 $ 13,227,850 $ $ 1,967,358 $ 1,967,358 $ $ $ ,140,000 1,122,250 13,262,250 1,967,358 1,967, ,705, ,250 13,280,250 1,967,358 1,967, ,967,358 1,967, ,967,358 1,967, ,967,358 1,967, ,967,358 1,967, ,967,358 1,967, ,967,358 1,967, ,967,358 1,967, ,545, ,679 38,528, Totals $ 36,485,000 $ 3,285,350 $ 39,770,350 $ 37,545,000 $ 20,657,259 $ 58,202,259 $ $ $ Additional Disclosures Required by Texas Local Government Code ,485,000 37,545,000 36,485,000 37,545,000 Final Maturity Date 2/1/2020 Final Maturity Date 8/1/2027 Final Maturity Date 1/31/2017 Mandatory Tender Date n/a Mandatory Tender Date n/a Mandatory Tender Date n/a 39,936,150 37,545,000 39,936,150 37,545,000 Current Credit Rating Aaa/Aa1 Moody's; AAA/AA+ Fitch Current Credit Rating Aaa/Aa1 Moody's; AAA/AA+ Fitch Current Credit Rating P1 Moody's; F1+ Fitch Purpose (i) Refund certain maturities of the District's currently Purpose Purpose: for the purpose of paying the costs of making various Purpose capital improvements to District facilities, for equipping existing District facilities, and paying the costs of issuance of the Notes. Provide the District with an interim financing program, as well as with ready access to capital as necessary to provide interim financing to pay costs of the eligible projects

7 Remaining Principal & Interest Payments on Debt Obligations and Other Disclosures By Issue Cumulative Total Total Grand Total Total Grand Percent Percent Principal Interest Total June 30 Principal Interest Total Retired Retired Per Capita (3) Per Capita (3) Per Capita (3) 2018 $ 117,070,000 $ 53,887,097 $ 170,957, % 8.2% $ 270 $ 124 $ ,440,000 53,274, ,714, % 13.2% ,955,000 54,285, ,240, % 18.5% ,110,000 53,425,033 88,535, % 22.7% ,565,000 52,851, ,416, % 27.8% ,690,000 51,564, ,254, % 32.8% ,685,000 48,711,650 98,396, % 37.5% ,840,000 45,922, ,762, % 42.7% ,170,000 42,983, ,153, % 48.2% ,935,000 39,489, ,424, % 53.3% ,845,000 35,125, ,970, % 60.1% ,680,000 30,847, ,527, % 65.0% ,215,000 27,478,679 89,693, % 69.3% ,440,000 24,445,837 78,885, % 73.1% ,105,000 21,596,463 78,701, % 76.9% ,410,000 18,773,313 78,183, % 80.6% ,820,000 15,908,988 77,728, % 84.3% ,055,000 13,085,912 59,140, % 87.2% ,405,000 10,877,175 51,282, % 89.6% ,140,000 8,920,075 51,060, % 92.1% ,945,000 6,876,875 50,821, % 94.5% ,630,000 5,307,775 22,937, % 95.6% ,470,000 4,231,275 22,701, % 96.7% ,345,000 3,102,825 22,447, % 97.7% ,065,000 2,066,975 18,131, % 98.6% ,855,000 1,197,100 16,052, % 99.4% ,840, ,500 8,387, % 99.8% ,420, ,700 4,574, % 100.0% Totals $ 1,363,145,000 $ 726,940,346 $ 2,090,085, % $ 3,140 $ 1,675 $ 4,815 Note (1): Note (2): Note (3): The Limited Tax Maintenance Notes are Qualified School Construction Bonds and are secured by the District's Maintenance & Operations tax; all other debt is secured by a dedicated Interest & Sinking tax. Variable Rate Debt Obligations (VRDOs) are bonds that are issued for shorter maturities than standard General Obligation Bonds, typically one to five years. At the end of the initial term, the bonds are remarketed, either for another short term period or converted to General Per Capita information is based on a District population estimate of 434,116. The estimate is from the U.S. Census Bureau's American Community Survey, 1Year Estimate for 2015, Table B The semiannual interest payments on the bonds are subsidized by the federal government as part of the Obligation bonds. For purposes of this schedule, the principal and interest payments assume the bonds are not remarketed after the initial American Recovery and Reinvestment Act. period, in which case the interest rate rises to a "stepped rate." In this case the VRDOs would continue to pay interest at the higher rate until successfully remarketed. The stepped rate on all NEISD VRDOs is 7%