2022-013 Debt Summary ReportDate: February 25, 2022 Report No. 2022-013
INFORMAL STAFF REPORT
TO MAYOR AND CITY COUNCIL
SUBJECT:
Debt Summary Report of City’s outstanding debt
BACKGROUND:
Attached is the Debt Summary Report with principal and interest outstanding as of September 30,
2021. This report is prepared on an annual basis to provide residents and the public with a
comprehensive and easy-to-understand summary of the City’s debt profile. Additionally, this
report includes required information in accordance with Texas Local Government Code 140.008
(House Bill 1378).
The report provides a high-level introduction to the types and uses of debt issued by the City as
well as the most recent bond ratings. Staff has differentiated between tax-supported and revenue-
supported debt to give the public a better understanding of which debt is paid for by property taxes
versus rate revenues. Furthermore, the report details the principal and interest for each major
service area of the City and provides two visual representations by dollar amount and percentages.
This Debt Summary Report is provided annually to City Council for any additional feedback.
CONCLUSION:
If no feedback is received within a week, staff will post the report on the City’s website for the
public on Tuesday, March 8, 2022. The report is intended to be updated annually in conjunction
with the City’s fiscal year end.
ATTACHMENT(S):
Debt Summary Report as of September 30, 2021
STAFF CONTACT:
Randee Klingele, Treasury Manager
(940)-349-8206
Randee.klingele@cityofdenton.com
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City of Denton
Debt Summary Report
Fiscal Year Ending September 30, 2021
Contact:
City of Denton Finance Department
Attn: Cassandra Ogden – Director of Finance
215 E. McKinney St.
Denton, Texas 76201
Email: Cassandra.Ogden@cityofdenton.com
Phone: 940-349-7195
Fax: 940-349-7206
Website: www.cityofdenton.com
Published: February 25, 2022
Disclaimer: Data provided in this report is as of the date of publication, constitutes existing long-
term debt obligations only, and has been prepared pursuant to Texas Local Government Code
140.008 (House Bill 1378). This report does not include forward looking statements nor does it
include debt that may be incurred in the future. Interested parties should refer to the City’s
audited financial statements and other disclosure documents when investing.
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TABLE OF CONTENTS
Introduction…………………………………………………………………………………………. 3
CITY DEBT SECTION
Schedule – Total Annual Debt Service by Type of Debt…………………………………………....6
Bar & Pie Charts – Total Annual Debt Service by Type of Debt………………………………....... 7
Schedule – Tax Supported Debt Service…………………………………………………………… 8
Bar & Pie Charts – Tax Supported Debt Service…………………………………………………… 9
Schedule – Revenue Supported Debt Service………………………………………………………. 10
Bar & Pie Charts – Revenue Supported Debt Service……………………………………………… 11
Schedule – General Government Debt Service……………………………………………………...12
Bar & Pie Charts – General Government Debt Service………………………………………….…. 13
Schedule – Electric Debt Service…………………………………………………………………… 14
Bar & Pie Charts – Electric Debt Service…………………………………………………………... 15
Schedule – Water Debt Service…………………………………………………………………….. 16
Bar & Pie Charts – Water Debt Service…………………………………………………………….. 17
Schedule – Wastewater Debt Service………………………………………………………………. 18
Bar & Pie Charts – Wastewater Debt Service……………………………………………………….19
Schedule – Solid Waste Debt Service………………………………………………………………. 20
Bar & Pie Charts – Solid Waste Debt Service………………………………………………….…... 21
HOUSE BILL 1378 SECTION
Summary of Debt Obligations……………………………………………………………..……..….23
Individual Debt Obligations………………………………………………………………….…..….24
Glossary of Terms………………………………………………………………………….……..…32
3
INTRODUCTION
This report is divided into two sections. The first section (City Debt) presents the City’s outstanding
debt by the manner in which the City intends to pay for such debt (tax-supported versus revenue-
supported). Additionally, this section provides a breakdown of the City’s outstanding debt by
purpose (General Government, Electric, Water, Wastewater, Solid Waste and Airport). The second
section (House Bill 1378) is intended to comply with reporting requirements pursuant to Texas Local
Government Code 140.008.
The City of Denton utilizes long-term debt to finance non-operating expenses, which may include
equipment, facilities, and the acquisition of land. Unlike the Federal Government, the City generally
issues debt for the purchase or construction of capital assets and infrastructure improvements and
cannot issue debt to fund operating expenses or deficit spending. All debt issued by the City must be
approved by the Texas Attorney General’s Office prior to the final sale of the debt. Additional
information on the City’s outstanding debt including statistical comparisons and ratios can be found
in the City’s Comprehensive Annual Financial Report, which is located on the City’s website under
the Finance Department. (www.cityofdenton.com)
The City issues two types of long-term debt: General Obligation Debt and Revenue Bond Debt. The
City also differentiates between tax-supported and revenue-supported debt to provide the public with
a clear understanding of which debt will be paid by property taxes versus rate revenues. The
following table shows the latest bond ratings for each type of debt for which ratings are given:
Moody’s1 Standard & Poor’s Fitch
General Obligation Debt Not Rated AA+ AA+
Revenue Bond Debt2 Not Rated A+ A
1Moody’s does not currently rate any of the City’s outstanding debt.
2Ratings for the Utility System Revenue Bonds, Series 2017 & 2021 were updated in 2021 at issuance.
GENERAL OBLIGATION DEBT:
The largest category of debt is General Obligation Debt. It consists of two categories of bonds:
General Obligation Bonds (GOs) and Certificates of Obligation (COs).
GOs are generally voter approved and backed by the full faith and credit of the City (property tax
pledge) and must be approved at an election. Voter approval may be granted during one of two
general election dates each year. GOs which are issued to refund outstanding debt do not require
voter approval. Under the City’s debt policy, GOs strive to have a final maturity of twenty (20)
years or less.
COs do not require voter approval and generally have a dual pledge of a specific City revenue source
as well and the full faith and credit of the City. Some examples of pledged City revenues are
electric, water, wastewater, and drainage revenues. Under the City’s debt policy, COs will strive to
have a final maturity of thirty (30) years or less. Historically, COs have mostly been issued with
twenty (20) year final maturities for general government purposes. In 2010, the City began issuing
COs not only for general government purposes which are repaid by property taxes, but also for utility
related projects of the City. The COs issued for utility purposes are repaid from the specific utility
fund for which the debt was issued. COs have a lower interest rate than revenue bonds, due to the
pledge of full faith and credit of the City. A portion of the interest savings to the City’s utilities
through issuing COs (instead of revenue bonds) is being paid to the general government and placed
in the Street Improvement Fund.
4
REVENUE BOND DEBT:
The second category of debt is Revenue Bond Debt. This debt is secured by only a pledge of the
operating revenues of the City’s Electric, Water and Wastewater Funds (collectively known as the
“Utility System”) and not the full faith and credit of the City. Under the City’s debt policy, revenue
bonds will strive to have a final maturity of thirty (30) years or less. Historically, most revenue
bonds have been issued with a twenty (20) year final maturity. As of September 30, 2021, the City
has the Utility System Revenue Bonds, Series 2017 and 2021’s outstanding.
OUTSTANDING DEBT:
The City’s total outstanding principal and interest as of September 30, 2021, is shown in Table 1 on
page 6 of this report.
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CITY DEBT SECTION
6
Table 1 - Total Outstanding Debt (in millions) as of September 30, 2021
Principal Interest Total
GOs $ 304.18 $ 69.08 $ 373.26
COs $ 552.40 $ 226.58 $ 778.98
Revenue Bonds $ 341.33 $ 159.84 $ 501.17
Total $ 1,197.91 $ 455.50 $ 1,653.41
FY End Revenue
9-30 Tax Supported Revenue Supported Tax Supported Revenue Supported Bonds Total
2022 19,422,898$ 26,957,976$ 13,184,891$ 34,214,459$ 20,570,668$ 114,350,893$
2023 18,131,569 21,789,339 11,752,994 32,050,993 25,295,259 109,020,153
2024 17,600,888 19,444,244 10,922,169 31,629,044 25,300,313 104,896,658
2025 16,725,505 16,735,504 10,119,219 31,164,269 25,298,018 100,042,515
2026 16,087,375 9,750,100 9,320,944 30,990,519 25,295,282 91,444,220
2027 15,503,146 9,337,375 8,403,256 30,745,871 25,298,300 89,287,949
2028 14,023,950 8,111,100 7,959,838 30,332,475 25,300,530 85,727,892
2029 12,856,278 6,945,325 7,325,894 30,222,371 25,300,299 82,650,168
2030 12,855,300 6,991,575 7,181,181 30,277,105 25,298,164 82,603,325
2031 12,539,172 1,547,875 7,173,000 30,313,356 25,298,194 76,871,596
2032 12,352,631 - 7,030,169 30,347,794 25,299,853 75,030,447
2033 12,152,884 - 7,000,222 27,791,200 25,295,276 72,239,582
2034 11,860,122 - 6,408,319 24,570,219 25,301,145 68,139,805
2035 11,592,056 - 5,906,391 23,154,831 25,296,215 65,949,493
2036 10,015,759 - 5,674,269 22,260,644 25,299,258 63,249,930
2037 8,934,628 - 5,436,981 21,095,044 25,297,732 60,764,385
2038 7,802,291 - 4,850,394 21,064,394 7,223,309 40,940,387
2039 6,428,563 - 2,716,309 21,072,838 7,224,204 37,441,913
2040 5,182,944 - 2,453,550 20,266,547 7,225,700 35,128,741
2041 3,577,613 - 1,071,925 19,680,563 7,222,724 31,552,824
2042 - - - 17,175,759 7,225,125 24,400,884
2043 - - - 17,175,638 7,223,201 24,398,839
2044 - - - 17,168,953 7,221,587 24,390,540
2045 - - - 13,803,044 7,224,314 21,027,357
2046 - - - 9,931,481 7,221,224 17,152,705
2047 - - - 6,937,400 7,222,160 14,159,560
2048 - - - 3,393,388 7,221,888 10,615,275
2049 - - - 3,392,038 7,225,170 10,617,207
2050 - - - 3,014,575 7,221,849 10,236,424
2051 - - - 1,852,875 7,221,769 9,074,644
245,645,572$ 127,610,413$ 141,891,913$ 637,089,686$ 501,168,729$ 1,653,406,313$
General Obligation Bonds (GOs)Certificates of Obligation (COs)
City of Denton
Total Annual Debt Service (Principal & Interest) - All Debt
Fiscal Year Ending September 30, 2021
7
8
City of Denton
Total Annual Debt Service (Principal & Interest) - Tax Supported Debt
Fiscal Year Ending September 30, 2021
FY
End General Obligation Bonds Certificates of Obligation
9-30 (GOs) (COs) Total
2022 $ 19,422,898 $ 13,184,891 $ 32,607,789
2023 18,131,569 11,752,994 29,884,562
2024 17,600,888 10,922,169 28,523,057
2025 16,725,505 10,119,219 26,844,724
2026 16,087,375 9,320,944 25,408,318
2027 15,503,146 8,403,256 23,906,403
2028 14,023,950 7,959,838 21,983,787
2029 12,856,278 7,325,894 20,182,172
2030 12,855,300 7,181,181 20,036,481
2031 12,539,172 7,173,000 19,712,172
2032 12,352,631 7,030,169 19,382,800
2033 12,152,884 7,000,222 19,153,106
2034 11,860,122 6,408,319 18,268,441
2035 11,592,056 5,906,391 17,498,447
2036 10,015,759 5,674,269 15,690,028
2037 8,934,628 5,436,981 14,371,609
2038 7,802,291 4,850,394 12,652,684
2039 6,428,563 2,716,309 9,144,872
2040 5,182,944 2,453,550 7,636,494
2041 3,577,613 1,071,925 4,649,538
$ 245,645,572 $ 141,891,913 $ 387,537,485
9
10
FY End General Obligation Bonds Certificates of Obligation Revenue
9-30 GOs COs Bonds Total
2022 26,957,976$ 34,214,459$ 20,570,668$ 81,743,103$
2023 21,789,339 32,050,993 25,295,259 79,135,591
2024 19,444,244 31,629,044 25,300,313 76,373,601
2025 16,735,504 31,164,269 25,298,018 73,197,791
2026 9,750,100 30,990,519 25,295,282 66,035,902
2027 9,337,375 30,745,871 25,298,300 65,381,546
2028 8,111,100 30,332,475 25,300,530 63,744,105
2029 6,945,325 30,222,371 25,300,299 62,467,996
2030 6,991,575 30,277,105 25,298,164 62,566,844
2031 1,547,875 30,313,356 25,298,194 57,159,424
2032 - 30,347,794 25,299,853 55,647,647
2033 - 27,791,200 25,295,276 53,086,476
2034 - 24,570,219 25,301,145 49,871,364
2035 - 23,154,831 25,296,215 48,451,046
2036 - 22,260,644 25,299,258 47,559,902
2037 - 21,095,044 25,297,732 46,392,776
2038 - 21,064,394 7,223,309 28,287,703
2039 - 21,072,838 7,224,204 28,297,041
2040 - 20,266,547 7,225,700 27,492,247
2041 - 19,680,563 7,222,724 26,903,286
2042 - 17,175,759 7,225,125 24,400,884
2043 - 17,175,638 7,223,201 24,398,839
2044 - 17,168,953 7,221,587 24,390,540
2045 - 13,803,044 7,224,314 21,027,357
2046 - 9,931,481 7,221,224 17,152,705
2047 - 6,937,400 7,222,160 14,159,560
2048 - 3,393,388 7,221,888 10,615,275
2049 - 3,392,038 7,225,170 10,617,207
2050 - 3,014,575 7,221,849 10,236,424
2051 - 1,852,875 7,221,769 9,074,644
127,610,413$ 637,089,686$ 501,168,729$ 1,265,868,828$
City of Denton
Total Annual Debt Service (Principal & Interest) - Revenue Supported Debt
Fiscal Year Ending September 30, 2021
11
12
City of Denton
Total Annual Debt Service (Principal & Interest) - General Government
Fiscal Year Ending September 30, 2021
FY
End 9-30 General Airport Water Park Warehouse Total
2022 $ 31,601,740 $ 724,659 $ 232,027 $ 49,364 $ 32,607,789
2023 $ 28,979,532 686,259 170,542 48,230 29,884,562
2024 $ 27,661,734 690,672 170,650 - 28,523,057
2025 $ 26,049,912 623,838 170,974 - 26,844,724
2026 $ 24,617,979 619,913 170,426 - 25,408,318
2027 $ 23,154,575 581,388 170,440 - 23,906,403
2028 $ 21,229,183 583,875 170,730 - 21,983,787
2029 $ 19,433,171 578,181 170,820 - 20,182,172
2030 $ 19,283,243 582,581 170,657 - 20,036,481
2031 $ 18,960,451 581,363 170,358 - 19,712,172
2032 $ 18,627,661 584,484 170,655 - 19,382,800
2033 $ 18,390,690 591,625 170,791 - 19,153,106
2034 $ 17,642,425 455,150 170,866 - 18,268,441
2035 $ 16,994,792 332,878 170,776 - 17,498,447
2036 $ 15,218,444 332,563 139,022 - 15,690,028
2037 $ 14,039,897 331,713 - - 14,371,609
2038 $ 12,327,084 325,600 - - 12,652,684
2039 $ 9,144,872 - - - 9,144,872
2040 $ 7,636,494 - - - 7,636,494
2041 $ 4,649,538 - - - 4,649,538
$ 375,643,417 $ 9,206,739 $ 2,589,735 $ 97,593 $ 387,537,485
13
14
FY End General Obligation Bonds Certificates of Obligation Revenue
9-30 GOs COs Bonds Total
2022 15,684,175$ 21,382,491$ 20,570,668$ 57,637,334$
2023 14,161,550 21,368,400 25,295,259 60,825,209
2024 12,816,225 21,349,126 25,300,313 59,465,664
2025 10,140,500 21,318,476 25,298,018 56,756,994
2026 5,072,375 21,308,326 25,295,282 51,675,983
2027 4,777,150 21,319,713 25,298,300 51,395,163
2028 4,301,125 21,311,131 25,300,530 50,912,786
2029 3,494,125 21,271,216 25,300,299 50,065,640
2030 3,524,000 21,307,555 25,298,164 50,129,720
2031 1,319,500 21,335,700 25,298,194 47,953,393
2032 - 21,360,013 25,299,853 46,659,865
2033 - 19,773,116 25,295,276 45,068,391
2034 - 17,046,869 25,301,145 42,348,014
2035 - 17,059,050 25,296,215 42,355,265
2036 - 17,086,763 25,299,258 42,386,021
2037 - 17,110,563 25,297,732 42,408,294
2038 - 17,137,925 7,223,309 24,361,234
2039 - 17,155,938 7,224,204 24,380,141
2040 - 17,174,294 7,225,700 24,399,994
2041 - 17,177,719 7,222,724 24,400,442
2042 - 17,175,759 7,225,125 24,400,884
2043 - 17,175,638 7,223,201 24,398,839
2044 - 17,168,953 7,221,587 24,390,540
2045 - 13,803,044 7,224,314 21,027,357
2046 - 9,931,481 7,221,224 17,152,705
2047 - 6,937,400 7,222,160 14,159,560
2048 - 3,393,388 7,221,888 10,615,275
2048 - 3,392,038 7,225,170 10,617,207
2049 - 3,014,575 7,221,849 10,236,424
2050 - 1,852,875 7,221,769 9,074,644
75,290,725$ 485,199,531$ 501,168,729$ 1,061,658,985$
City of Denton
Total Annual Debt Service (Principal & Interest) - Electric
Fiscal Year Ending September 30, 2021
15
16
FY End General Obligation Bonds Certificates of Obligation Revenue
9-30 GOs COs Bonds Total
2022 7,724,825$ 3,147,262$ - 10,872,087$
2023 5,453,375 3,138,937 - 8,592,312
2024 5,542,850 3,134,762 - 8,677,612
2025 5,565,950 3,124,562 - 8,690,512
2026 3,700,575 3,123,237 - 6,823,812
2027 3,710,175 3,123,571 - 6,833,746
2028 3,060,750 3,114,193 - 6,174,943
2029 2,749,325 3,093,606 - 5,842,931
2030 2,763,825 3,099,218 - 5,863,043
2031 3,100,100 - 3,100,100
2032 - 3,103,194 - 3,103,194
2033 - 2,668,231 - 2,668,231
2034 - 2,662,231 - 2,662,231
2035 - 2,034,619 - 2,034,619
2036 - 1,833,619 - 1,833,619
2037 - 1,340,456 - 1,340,456
2037 - 1,338,794 - 1,338,794
2038 - 1,338,391 - 1,338,391
2039 - 1,147,219 - 1,147,219
2040 - 1,142,713 - 1,142,713
40,271,650$ 49,808,914$ -$ 90,080,564$
City of Denton
Total Annual Debt Service (Principal & Interest) - Water
Fiscal Year Ending September 30, 2021
17
18
FY End General Obligation Bonds Certificates of Obligation Revenue
9-30 GOs COs Bonds Total
2022 2,506,300 4,392,775 - 6,899,075
2023 1,329,300 4,386,525 - 5,715,825
2024 262,475 4,370,725 - 4,633,200
2025 260,550 4,370,425 - 4,630,975
2026 267,250 4,370,150 - 4,637,400
2027 273,350 4,364,375 - 4,637,725
2028 272,750 4,372,775 - 4,645,525
2029 280,250 4,318,750 - 4,599,000
2030 281,875 4,330,031 - 4,611,906
2031 - 4,341,669 - 4,341,669
2032 - 4,338,575 - 4,338,575
2033 - 3,835,191 - 3,835,191
2034 - 3,476,856 - 3,476,856
2035 - 3,018,856 - 3,018,856
2036 - 2,548,994 - 2,548,994
2037 - 2,322,919 - 2,322,919
2037 - 2,328,744 - 2,328,744
2038 - 2,325,128 - 2,325,128
2039 - 1,691,806 - 1,691,806
2040 - 1,107,319 - 1,107,319
5,734,100$ 70,612,583$ -$ 76,346,683$
City of Denton
Total Annual Debt Service (Principal & Interest) - Wastewater
Fiscal Year Ending September 30, 2021
19
20
FY End General Obligation Bonds Certificates of Obligation Revenue
9-30 GOs COs Bonds Total
2022 1,026,492$ 4,664,126$ -$ 5,690,617$
2023 829,301 2,567,151 - 3,396,452
2024 822,694 2,184,951 - 3,007,644
2025 768,504 2,097,176 - 2,865,679
2026 709,900 1,934,601 - 2,644,501
2027 576,700 1,680,257 - 2,256,957
2028 476,475 1,279,544 - 1,756,019
2029 421,625 1,282,469 - 1,704,094
2030 421,875 1,287,844 - 1,709,719
2031 228,375 1,281,732 - 1,510,107
2032 - 1,294,556 - 1,294,556
2033 - 1,256,306 - 1,256,306
2034 - 1,128,331 - 1,128,331
2035 - 786,800 - 786,800
2036 - 535,775 - 535,775
2037 - 66,300 - 66,300
6,281,940$ 25,327,917$ -$ 31,609,858$
City of Denton
Total Annual Debt Service (Principal & Interest) - Solid Waste
Fiscal Year Ending September 30, 2021
21
22
HOUSE BILL 1378 SECTION
23
TOTAL TAX-SUPPORTED AND REVENUE DEBT HB 1378 Calculation (1)City Calculation (2)
Total Authorized Debt Obligations 1,346,300,000$ 1,346,300,000$
Total Principal Of All Outstanding Debt Obligations 1,197,910,000$ 1,197,910,000$
Combined Principal And Interest Required To Pay All Outstanding Debt Obligations On Time
And In Full 1,653,406,313$ 1,653,406,313$
TOTAL DEBT SECURED BY AD VALOREM TAXATION
Total Authorized Debt Obligations Secured By Ad Valorem Taxation 1,004,970,000$ 456,911,854$
Total Principal Of All Outstanding Debt Obligations Secured By Ad Valorem Taxation 856,580,000$ 308,521,854$
Combined Principal And Interest Required To Pay All Outstanding Debt Obligations Secured By
Ad Valorem Taxation On Time And In Full 1,152,237,584$ 393,710,223$
PER CAPITA TOTAL DEBT SECURED BY AD VALOREM TAXATION
Total Authorized Debt Obligations Secured By Ad Valorem Taxation Expressed As A Per Capita
Amount 7,010$ 3,187$
Total Principal Of Outstanding Debt Obligations Secured By Ad Valorem Taxation As A Per
Capita Amount 5,975$ 2,152$
Combined Principal And Interest Required To Pay All Outstanding Debt Obligations Secured By
Ad Valorem Taxation On Time And In Full As A Per Capita Amount 8,037$ 2,746$
Population Total Used To Calculate Per Capita Figures 143,366 143,366
Source And Year of Data Used To Calculate Per Capita Figures City of Denton
Planning Department,
2021
City of Denton
Planning Department,
2021
City of Denton
Summary of Debt Obligations
Fiscal Year Ending September 30, 2021
(1) For all "Authorized Debt Obligations" amounts and calculations, the City has included all voted but unissued amounts and all amounts of debt that were
authorized by the City Council to be issued, but, as of the end of the fiscal year remained unissued, as well as all outstanding debt as of the end of the
fiscal year. The City currently has a $100 million GO ECP Program under existing GO debt authorization.
(2) City Calculation excludes general obligation debt issued for Enterprise Funds (Electric, Water, Wastewater and Solid Waste) since the City has paid
that debt with revenues from each respective fund. General obligation debt is issued with a limited pledge of Utility System revenue for this purpose. The
City currently has a $300 million Utility ECP Program under existing utility debt authorization.
24
City of Denton
Individual Debt Obligations
Fiscal Year Ending September 30, 2021
Outstanding Debt Principal Principal Combined Final Maturity Secured By Total Proceeds Proceeds Proceeds
Obligations Issued Outstanding Principal & Interest Date Ad Valorem Taxes Received Spent Unspent Moody's S&P Fitch
Certificates of Obligation,
Series 2012
44,675,000.00$ 23,425,000.00$ 29,350,028.18$ February 15, 2032 Yes 48,950,741.64$ 48,950,741.64$ -$ Not Rated AA+AA+
Current Credit Rating
Proceeds from the sale of the Certificates will be used for (a) acquisition of vehicles and equipment for, and acquiring, constructing, installing and equipping additions,
extensions, renovations and improvements to, the City's solid waste disposal system; (b) renovations to, and equipping of, existing municipal buildings, including the acquisition
and installation of replacement heating, venting and air conditioning equipment and flooring; (c) acquisition of vehicles and equipment for the fire, police, streets and traffic
control, facilities management, and parks and recreation departments; (d) constructing and improving streets, including installation of traffic signals; (e) acquisition of
equipment for, and acquiring, constructing, installing and equipping additions, extensions, renovations and improvements to, the City's waterworks and sewer system; (f)
acquisition of equipment for, and acquiring, constructing, installing and equipping additions, extensions, renovations and improvements to, the City's electric light and power
system; and also for the purpose of paying all or a portion of the City's contractual obligations for professional services, including engineers, architects, attorneys, map makers,
auditors, and financial advisors, in connection the design of an animal shelter and with said projects and said Certificates
General Obligation
Refunding and
Improvement Bonds,
Series 2012
33,590,000.00$ 10,460,000.00$ 11,322,781.29$ February 15, 2032 Yes 4,152,706.97$ 4,152,706.97$ -$ Not Rated AA+AA+
Proceeds of the Bonds are expected to be used (i) to refund certain outstanding obligations of the City for debt service savings and (ii) for various street improvements and park
land acquisitions and improvements, and (iii) to pay the costs associated with the issuance of the Bonds.
Certificates of
Obligation, Series 2013
63,520,000.00$ 37,815,000.00$ 45,925,000.27$ February 15, 2033 Yes 67,807,600.00$ 67,807,600.00$ -$ Not Rated AA+AA+
Proceeds from the sale of the Certificates will be used for (a) acquisition of vehicles and equipment for, and acquiring, constructing, installing and equipping additions,
extensions, renovations and improvements to, the City's solid waste disposal system, including the acquisition of land for the City landfill; (b) renovations to, and equipping of,
existing municipal buildings, including the acquisition and installation of replacement heating, venting and air conditioning equipment, roofing and flooring; (c) acquisition of
vehicles and equipment for the fire, police, building inspections, animal services, streets and traffic control, facilities management, and parks and recreation departments; (d)
constructing and improving streets, including installation of traffic signals; (e) acquisition of land for the municipal airport; (t) acquiring, constructing, installing and equipping a
public safety training facility; (g) acquiring, constructing, installing and equipping additions, extensions, renovations and improvements to existing fire stations, (h) acquiring,
constructing, installing and equipping two animal shelters; (i) acquisition of equipment for, and acquiring, constructing, installing and equipping additions, extensions,
renovations and improvements to, the City's waterworks and sewer system; and G) acquisition of equipment for, and acquiring, constructing, installing and equipping additions,
extensions, renovations and improvements to, the City's electric light and power system; and also for the purpose of paying all or a portion of the City's contractual obligations
for professional services, including engineers, architects, attomeys, map makers, auditors, and financial advisors, in connection with said projects and said Certificates.
25
Outstanding Debt Principal Principal Combined Final Maturity Secured By Total Proceeds Proceeds Proceeds
Obligations Issued Outstanding Principal & Interest Date Ad Valorem Taxes Received Spent Unspent Moody's S&P Fitch
General Obligation
Refunding and
Improvement Bonds,
Series 2013
10,735,000.00$ 5,490,000.00$ 6,340,468.81$ February 15, 2033 Yes 4,081,275.34$ 4,081,275.34$ -$ Not Rated AA+AA+
Current Credit Rating
Proceeds of the Bonds are expected to be used (i) to refund certain outstanding obligations of the City for debt service savings; (ii) for various street improvements, and (iii) to
pay the costs associated with the issuance of the Bonds.
Certificates of Obligation,
Series 2014
89,180,000.00$ 69,000,000.00$ 100,218,768.75$ February 15, 2044 Yes 93,781,044.89$ 93,781,044.89$ -$ Not Rated AA+AA+
Proceeds of the sale of the Certificates will be used (a) acquisition of vehicles and equipment for, and acquiring, constructing, installing and equipping additions, extensions,
renovations and improvements to, the City's solid waste disposal system, including the acquisition of land for the City landfill; (b) renovations to, and equipping of, existing
municipal buildings, including the acquisition and installation of replacement heating, venting and air conditioning equipment, roofing and flooring; (c) acquisition of vehicles
and equipment for the fire, police, building inspections, animal services, streets and traffic control, facilities management, and parks and recreation departments; (d)
constructing and improving streets, including installation of traffic signals; (e) acquiring, constructing, installing and equipping hangars for the municipal airport; (f) acquiring,
constructing, installing and equipping additions, extensions, renovations and improvements to the Civic Center Pool facilities; (g) acquiring, constructing, installing and equipping
replacement facility for Fire Station Number 2, including related site preparation; (h) acquisition of equipment for, and acquiring, constructing, installing and equipping
additions, extensions, renovations and improvements to, the City's waterworks and sewer system; (i) acquisition of equipment for, and acquiring, constructing, installing and
equipping additions, extensions, renovations and improvements to, the City's electric light and power system; and also for the purpose of paying all or a portion of the City's
contractual obligations for professional services, including engineers, architects, attorneys, map makers, auditors, and financial advisors, in connection with said projects and
said Certificates.
Outstanding Debt Principal Principal Combined Final Maturity Secured By Total Proceeds Proceeds Proceeds
Obligations Issued Outstanding Principal & Interest Date Ad Valorem Taxes Received Spent Unspent Moody's S&P Fitch
General Obligation
Refunding and
Improvement Bonds,
Series 2014
7,330,000.00$ 2,880,000.00$ 3,542,750.02$ February 15, 2034 Yes 4,063,543.45$ 4,063,543.45$ -$ Not Rated AA+AA+
Current Credit Rating
Proceeds of the Bonds are expected to be used (i) to refund certain outstanding obligations of the City for debt service savings; (ii) for various street improvements, and (iii) to
pay the costs associated with the issuance of the Bonds.
General Obligation
Refunding Bonds, Series
2014
27,155,000.00$ 13,200,000.00$ 14,065,000.00$ February 15, 2025 Yes 147,264.26$ 147,264.26$ -$ Not Rated AA+AA+
Proceeds of the Bonds are expected to be used (i) to refund certain outstanding obligations of the City for debt service savings; (ii) to refinance a portion of the City's contractual
obligations to the Texas Municipal Power Agency (the "TMPA") under a power sales contract with the TMPA, specifically in respect to the refunding of approximately
$13,430,000 in maturity value of certain outstanding TMPA bonds; and (iii) to pay the costs associated with the issuance of the Bonds.
Certificates of Obligation,
Series 2015
93,015,000.00$ 72,320.00$ 110,278,528.00$ February 15, 2045 Yes 97,983,335.00$ 96,003,428.72$ 1,979,906.28$ Not Rated AA+AA+
26
Proceeds of the sale of the Certificates will be used (a) acquisition of vehicles and equipment for, and acquiring, constructing, installing and equipping additions, extensions,
renovations and improvements to, the City's solid waste disposal system, including the acquisition of land for the City landfill; (b) renovations to, and equipping of, existing
municipal buildings, including the acquisition and installation of replacement heating, venting and air conditioning equipment, roofing and flooring; (c) acquisition of vehicles
and equipment for the fire, police, building inspections, animal services, streets and traffic control, facilities management, and parks and recreation departments; (d) acquiring,
constructing, installing and equipping parking facilities; (e) acquisition of land and buildings to be used for administration facilities and/or park purposes; (f) acquiring,
constructing, installing and equipping additions, extensions, renovations and improvements to the Civic Center Pool facilities; and (g) acquiring, constructing, installing and
equipping replacement facility for Fire Station Number 2, including related site preparation, and acquiring, constructing, installing and equipping a new fire station, including the
acquisition of land therefor; (h) acquisition of vehicles and equipment for, and acquiring, constructing, installing and equipping additions, extensions, renovations and
improvements to, the City's waterworks and sewer system; and (i) acquisition of equipment for, and acquiring, constructing, installing and equipping additions, extensions,
renovations and improvements to, the City's electric light and power system, and also for the purpose of paying all or a portion of the City's contractual obligations for
professional services, including engineers, architects, attorneys, map makers, auditors, and financial advisors, in connection with said projects and said Certificates.
Outstanding Debt Principal Principal Combined Final Maturity Secured By Total Proceeds Proceeds Proceeds
Obligations Issued Outstanding Principal & Interest Date Ad Valorem Taxes Received Spent Unspent Moody's S&P Fitch
General Obligation
Refunding and
Improvement Bonds,
Series 2015
37,640,000.00$ 26,755,000.00$ 32,762,458.00$ February 15, 2035 Yes 23,013,424.58$ 23,013,424.58$ -$ Not Rated AA+AA+
Current Credit Rating
Proceeds of the Bonds are expected to be used (i) to refund certain outstanding obligations of the City for debt service savings; (ii) for street improvements, public safety
facilities improvements, stormwater drainage and flood control improvements, and park system improvements, and (iii) to pay the costs associated with the issuance of the
Bonds.
General Obligation
Refunding Bonds, Series
2015
33,945,000.00$ 6,675,000.00$ 7,126,250.00$ February 15, 2026 Yes 163,600.05$ 163,600.05$ -$ Not Rated AA+AA+
Proceeds of the Bonds will be used (i) to currently refund in part, and advance refund in part, certain outstanding obligations of the City for debt service savings; (ii) to refinance
a portion of the City's contractual obligations to the Texas Municipal Power Agency (the "TMPA") under a power sales contract with the TMPA, specifically in respect to the
refunding of approximately $3,430,000 in maturity value of certain outstanding TMPA bonds; and (iii) to pay the costs associated with the issuance of the Bonds.
Certificates of Obligation,
Series 2016
83,305,000.00$ 66,445,000.00$ 98,299,872.11$ February 15, 2046 Yes 92,340,554.08$ 80,935,881.54$ 11,404,672.54$ Not Rated AA+AA+
Proceeds from the sale of the Certificates will be used (a) acquisition of vehicles and equipment for, and acquiring, constructing , installing and equipping additions, extensions,
renovations and improvements to, the City's solid waste disposal system, including the acquisition of land for the City landfill; (b) renovations to, and equipping of, existing
municipal buildings, including the acquisition and installation of replacement heating, venting and air conditioning equipment, roofing and flooring; (c) acquisition of vehicles
and equipment for the fire, police, building inspections, community improvement services , animal services, streets and traffic control , facilities management, and parks and
recreation departments; (d) acquiring , constructing , installing and equipping additions, extensions, renovations and improvements to parking facilities; (e) constructing and
improving streets, including landscaping, drainage, utility line relocations and the acquisition of land and rights-of-way therefor; (f) acquiring, constructing, installing and
equipping a new fire training facility; and (g) acquisition of land for a new fire station; (h) acquisition of vehicles and equipment for, and acquiring, constructing , installing and
equipping additions, extensions, renovations and improvements to, the City's waterworks and sewer system; and (i) acquisition of equipment for, and acquiring, constructing,
installing and equipping additions, extensions, renovations and improvements to, the City's electric light and power system, and also for the purpose of paying all or a portion of
27
the City's contractual obligations for professional services, including engineers, architects, attorneys, map makers, auditors , and financial advisors, in connection with said
projects and said Certificates.
Outstanding Debt Principal Principal Combined Final Maturity Secured By Total Proceeds Proceeds Proceeds
Obligations Issued Outstanding Principal & Interest Date Ad Valorem Taxes Received Spent Unspent Moody's S&P Fitch
General Obligation
Refunding and
Improvement Bonds,
Series 2016
28,930,000.00$ 22,390,000.00$ 27,280,950.00$ February 15, 2036 Yes 16,915,296.52$ 16,915,296.52$ -$ Not Rated AA+AA+
Current Credit Rating
Proceeds of the Bonds are expected to be used (i) to refund certain outstanding obligations of the City for debt service savings; (ii) for street improvements, public safety facilities
improvements, stormwater drainage and flood control improvements, and park system improvements, and (iii) to pay the costs associated with the issuance of the Bonds.
General Obligation
Refunding Bonds, Series
2016
38,425,000.00$ 24,825,000.00$ 29,637,650.00$ February 15, 2030 Yes 175,656.87$ 175,656.87$ -$ Not Rated AA+AA+
Proceeds from the sale of the Bonds, together with funds contributed by the City, are expected to be used (i) refund all outstanding obligations of the City's Utility System for
debt service savings; and (ii) to pay the costs associated with the issuance of the Bonds.
Utility System Revenue
Bonds, Series 2017
214,890,000.00$ 199,340,000.00$ 289,210,000.00$ December 1, 2037 No 246,164,298.03$ 238,155,809.06$ 8,008,488.97$ Not Rated AA-A+
Proceeds from the sale of the Series 2017 Bonds will be used to (a) acquire and construct additions and improvements to the City's electric light and power system including new
quick start peak power generation facilities; (b) fund capitalized interest on the Series 2017 Bonds; and (c) pay the costs of issuance in connection with the issuance of the Series
2017 Bonds.
Certificates of Obligation,
Series 2017
90,800,000.00$ 72,140,000.00$ 110,903,600.00$ February 15, 2047 Yes 98,365,003.11$ 79,530,796.59$ 18,834,206.52$ Not Rated AA+AA+
Proceeds from the sale of the Certificates will be used for (a) acquisition of vehicles and equipment for, and acquiring, constructing, installing and equipping additions,
extensions, renovations and improvements to, the City's solid waste disposal system; (b) renovations to, and equipping of, existing municipal buildings, including the acquisition
and installation of replacement heating, venting and air conditioning equipment, roofing and flooring; (c) acquisition of vehicles and equipment for the fire, police, building
inspections, community improvement services, animal services, streets and traffic control, facilities management, and parks and recreation departments; (d) acquiring,
constructing, installing and equipping additions, extensions, renovations and improvements to parking facilities; (e) constructing and improving streets, including landscaping,
drainage, utility line relocations and the acquisition of land and rights-of-way therefor; (f) acquisition of equipment for, and acquiring, constructing, installing and equipping
additions, extensions, renovations and improvements to, the City's electric light and power system; and also for the purpose of paying all or a portion of the City's contractual
obligations for professional services, including engineers, architects, attorneys, map makers, auditors, and financial advisors, in connection with said projects and said
Certificates.
28
Outstanding Debt Principal Principal Combined Final Maturity Secured By Total Proceeds Proceeds Proceeds
Obligations Issued Outstanding Principal & Interest Date Ad Valorem Taxes Received Spent Unspent Moody's S&P Fitch
General Obligation
Refunding and
Improvement Bonds,
Series 2017
29,105,000.00$ 15,590,000.00$ 19,708,365.81$ February 15, 2037 Yes 17,294,870.71$ 15,797,309.36$ 1,497,561.35$ Not Rated AA+AA+
Current Credit Rating
Proceeds of the Bonds are expected to be used (i) to refund certain outstanding obligations of the City described on Schedule I attached hereto (the "Refunded Obligations") for
debt service savings; (ii) for street improvements and public safety facilities improvements, and (iii) to pay the costs associated with the issuance of the Bonds.
General Obligation Bonds,
Series 2018
19,235,000.00$ 17,375,000.00$ 23,294,812.87$ February 15, 2038 Yes 19,871,127.54$ 2,277,313.44$ 17,593,814.10$ Not Rated AA+AA+
Proceeds of the Bonds are expected to be used (i) street improvements, storm water drainage and flood control improvements, and park system improvements; and (ii) to pay
the costs associated with the issuance of the Bonds.
Certificates of Obligation,
Series 2018
9,555,000.00$ 6,940,000.00$ 8,701,687.56$ February 15, 2038 Yes 10,020,369.57$ 9,534,741.83$ 485,627.74$ Not Rated AA+AA+
Proceeds will be used for (a) renovations to, and equipping of, existing municipal buildings, including the acquisition and installation of replacement heating, venting and air
conditioning equipment, roofing and flooring; (b) acquisition of vehicles and equipment for the fire, police, building inspections, community improvement services, animal
services, streets and traffic control, facilities management, and parks and recreation departments; (c) acquiring, constructing, installing and equipping additions, extensions,
renovations and improvements to runways and taxiways at the municipal airport; and (d) acquiring, constructing, renovating, installing and equipping fire stations, including the
acquisition of land therefor: and also for the purpose of paying all or a portion of the City's contractual obligations for professional services, including engineers, architects,
attorneys, map makers, auditors, and financial advisors, in connection with said projects and the Certificates (see "Plan of Financing").
Certificates of Obligation,
Series 2018A
29,545,000.00$ 25,795,000.00$ 34,845,128.26$ February 15, 2038 Yes 31,802,096.74$ 11,213,890.69$ 20,588,206.05$ Not Rated AA+AA+
Proceeds from the sale of the Certificates will be used for (a) renovating, constructing, expanding, improving and equipping existing municipal service center building; (b)
constructing and improving streets, including landscaping, drainage, utility line relocations and the acquisition of land and rights-of-way therefor; (c) constructing, reconstructing
and improving vehicle roadways at the municipal airport; (d) acquiring, constructing, installing and equipping fire stations, including the acquisition of land therefor; (e)
acquiring, constructing, installing and equipping a public safety facility for the police department, including the acquisition of land therefor; (acquiring and installing a radio
communications system for the City; and also for the purpose of paying all or a portion of the City's contractual obligations for professional services, including engineers,
architects, attorneys, map makers, auditors, and financial advisors.
General Obligation
Refunding & Improvement
Bonds, Series 2019
44,340,000.00$ 35,110,000.00$ 42,453,200.00$ February 15, 2039 Yes 48,176,707.02$ 28,738,853.14$ 19,437,853.88$ Not Rated AA+AA+
(i) up to $28,620,000 for the public purpose of refunding the Refunded Obligations, (ii) for the purpose of the acquisition of property and making improvements for public
purposes in said Issuer, to wit: (A) $14,580,000 for street improvements, (B) $705,000 for stormwater drainage and flood control improvements, and (C) $4,085,000 for park
system improvements.
29
Outstanding Debt Principal Principal Combined Final Maturity Secured By Total Proceeds Proceeds Proceeds
Obligations Issued Outstanding Principal & Interest Date Ad Valorem Taxes Received Spent Unspent Moody's S&P Fitch
Certificates of Obligation,
Series 2019
28,755,000.00$ 25,480,000.00$ 34,168,875.00$ February 15, 2049 Yes 30,516,238.82$ 8,201,693.07$ 22,314,545.75$ Not Rated AA+AA+
Current Credit Rating
Proceeds will be used for acquisition of equipment for, and acquiring, constructing, installing and equipping additions, extensions, renovations and improvements to, the (a)
Issuer's waterworks system; (b) Issuer's wastewater system; and (c) the Issuer's electric light and power system; and also for the purpose of paying all or a portion of the Issuer's
contractual obligations for professional services, including engineers, architects, attorneys, map makers, auditors, and financial advisors, in connection with said projects and
said Certificates of Obligation; and up to $10,110,000 in principal amount for the purpose of: renovations to, and equipping of, existing municipal buildings, (a) including the
acquisition and installation of replacement heating, venting and air conditioning equipment, roofing and flooring; (b) acquisition of vehicles and equipment for the fire, police,
building inspections, community improvement services, animal services, streets and traffic control, facilities management, and parks and recreation departments; (c)
constructing and improving streets, including landscaping, drainage, utility line relocations and the acquisition of land and rights-of-way therefor; (d) acquiring, constructing,
installing and equipping a public safety facility for the police department, including the acquisition of land therefor; (e) acquiring, extending, constructing, renovating, improving
and equipping parking facilities, including the acquisition of land therefor; and (f) acquisition and installation of technology equipment including computer equipment and
software for various municipal departments; and also for the purpose of paying all or a portion of the Issuer's contractual obligations for professional services, including
engineers, architects, attorneys, map makers, auditors, and financial advisors, in connection with said projects and said Certificates of Obligation.
General Obligation
Refunding & Improvement
Bonds, Series 2020
62,080,000.00$ 54,950,000.00$ 67,084,325.00$ February 15, 2040 Yes 70,866,955.65$ 44,329,910.81$ 26,537,044.84$ Not Rated AA+AA+
Proceeds of the Bonds are expected to be used for (i) various street improvements, park system improvements and public safety facilities for the police department, (ii) to
refund the bonds described in Schedule I – Schedule of Refunded Obligations (the "Refunded Obligations") for debt service savings and (iii) to pay the costs associated with the
issuance of the Bonds (see "Plan of Financing").
Certificate of Obligations,
Series 2020
58,080,000.00$ 56,005,000.00$ 73,656,525.00$ February 15, 2050 Yes 64,267,138.90$ 3,548,011.30$ 60,719,127.60$ Not Rated AA+AA+
Proceeds will be used for the purpose of paying all or a portion of the Issuer's contractual obligations incurred pursuant to contracts for the purchase, construction and
acquisition of certain real and personal property, to wit: up to $37,120,000 in principal amount for the purpose of: (a) acquisition of equipment for, and acquiring, constructing,
installing and equipping additions, extensions, renovations and improvements to, the Issuer's wastewater system; and (b) acquisition of equipment for, and acquiring,
constructing, installing and equipping additions, extensions, renovations and improvements to, the Issuer's electric light and power system; and also for the purpose of paying all
or a portion of the Issuer's contractual obligations for professional services, including engineers, architects, attorneys, map makers, auditors, and financial advisors, in
connection with said projects and said Certificates of Obligation; and up to $27,250,000 in principal amount for the purpose of: (a) acquisition of vehicles and equipment for the
fire, police, building inspections, community improvement services, animal services, streets and traffic control, facilities management, and parks and recreation departments; (b)
acquiring, constructing, installing and equipping additions, extensions, renovations and improvements to existing fire stations; (c) acquiring, constructing, reconstructing,
renovating, installing and equipping a municipal government building for municipal development services and other municipal administrative purposes, and the acquisition of
land and interests in land and properties therefor; (d) acquiring, constructing, reconstructing, renovating, installing and equipping municipal parks; (e) acquiring land and
building for facility for homeless and indigent shelter and services; and also for the purpose of paying all or a portion of the Issuer's contractual obligations for professional
services, including engineers, architects, attorneys, map makers, auditors, and financial advisors, in connection with said projects and said Certificates of Obligation (collectively,
the "Projects").
30
Outstanding Debt Principal Principal Combined Final Maturity Secured By Total Proceeds Proceeds Proceeds
Obligations Issued Outstanding Principal & Interest Date Ad Valorem Taxes Received Spent Unspent Moody's S&P Fitch
General Obligation
Refunding Bonds, Series
2020A
14,150,000.00$ 13,770,000.00$ 17,012,250.00$ February 15, 2031 Yes 17,031,194.53$ -$ 17,031,194.53$ Not Rated AA+AA+
Current Credit Rating
Proceeds of the Bonds are expected to be used for (i) to refund the bonds described in Schedule I – Schedule of Refunded Obligations (the "Refunded Obligations") for debt
service savings and (ii) to pay the costs associated with the issuance of the Bonds (see "Plan of Financing").
Certificates of Obligation,
Series 2021
97,035,000.00$ 97,035,000.00$ 132,633,585.91$ February 15, 2021 Yes 104,246,452.67$ 40,231,923.09$ 64,014,529.58$ Not Rated AA+AA+
Proceeds from the sale of the Certificates will be used for (i) acquisition of equipment for, and acquiring, constructing, installing and equipping additions, extensions, renovations
and improvements to, the City's waterworks and wastewater system; (ii) acquisition of equipment for, and acquiring, constructing, installing and equipping additions,
extensions, renovations and improvements to, the City's electric light and power system; (iii) constructing and improving streets, including landscaping, drainage, utility line
relocations and the acquisition of land and rights-of-way therefor; (iv) acquisition of vehicles and equipment for the fire, police, building inspections, community improvement
services, animal services, streets and traffic control, facilities management, and parks and recreation departments; (v) renovations to, and equipping of, existing municipal
buildings, including the acquisition and installation of replacement heating, venting and air conditioning equipment, roofing and flooring; (vi) acquisition and installation of
technology equipment including computer equipment and software for various municipal departments; (vii) constructing, reconstructing, renovating, installing and equipping
facility for homeless and indigent shelter and services; and (viii) renovations to, expansion of, and equipping existing municipal vehicle maintenance facility; and also for the
purpose of paying all or a portion of the City's contractual obligations for professional services, including engineers, architects, attorneys, map makers, auditors, and financial
advisors, in connection with said projects and the Certificates (see "Plan of Financing").
General Obligation Bonds,
Series 2021
54,710,000.00$ 54,710,000.00$ 71,624,723.12$ February 15, 2041 Yes 59,608,180.12$ 4,898,180.12$ 54,710,000.00$ Not Rated AA+AA+
Proceeds from the sale of the Certificates will be used for (i) acquisition of equipment for, and acquiring, constructing, installing and equipping additions, extensions, renovations
and improvements to, the City's waterworks and wastewater system; (ii) acquisition of equipment for, and acquiring, constructing, installing and equipping additions,
extensions, renovations and improvements to, the City's electric light and power system; (iii) constructing and improving streets, including landscaping, drainage, utility line
relocations and the acquisition of land and rights-of-way therefor; (iv) acquisition of vehicles and equipment for the fire, police, building inspections, community improvement
services, animal services, streets and traffic control, facilities management, and parks and recreation departments; (v) renovations to, and equipping of, existing municipal
buildings, including the acquisition and installation of replacement heating, venting and air conditioning equipment, roofing and flooring; (vi) acquisition and installation of
technology equipment including computer equipment and software for various municipal departments; (vii) constructing, reconstructing, renovating, installing and equipping
facility for homeless and indigent shelter and services; and (viii) renovations to, expansion of, and equipping existing municipal vehicle maintenance facility; and also for the
purpose of paying all or a portion of the City's contractual obligations for professional services, including engineers, architects, attorneys, map makers, auditors, and financial
advisors, in connection with said projects and the Certificates (see "Plan of Financing").
Utility System Revenue
Refunding Bonds, Taxable
Series 2021
141,990,000.00$ 141,990,000.00$ 211,958,729.15$ December 1, 2036 No 141,990,000.00$ -$ 141,990,000.00$ Not Rated AA A+
Proceeds from the sale of the Taxable Series 2021 Bonds will be used to (a) refund outstanding commercial paper notes (“Refunded Notes”); and (b) pay the costs of issuance in
connection with the issuance of the Taxable Series 2021 Bonds (See “Plan of Financing – Purpose” and “Plan of Financing – Refunded Notes”)
31
Principal Principal Combined Final Maturity Secured By Total Proceeds Proceeds Proceeds
Issued Outstanding Principal & Interest Date Ad Valorem Taxes Received Spent Unspent
1,528,660,000.00$ 1,125,662,320.00$ 1,653,406,313.11$ 1,448,510,900.65$ 961,364,120.92$ 487,146,779.73$
GLOSSARY OF TERMS
37
The HB 1378 Section of the Annual Debt Report contains terminology provided by the Texas Comptroller’s Office.
To assist the reader of this document in understanding these terms, a glossary of terms has been included in the
document as provided by the Texas Comptroller’s Office.
Political Subdivision. Political subdivisions are counties, municipalities, school districts, junior college districts,
other special districts, or other subdivisions of state government.
Total Authorized Debt Obligations. Debt obligations are defined in the bill as issued public securities which are
instruments, including bonds, certificates, notes, or other types of obligations authorized to be issued by an
issuer under a statute, a municipal home-rule charter, or the constitution of this state. Issuance is the
process of authorizing, selling, and delivering public debt. Public security authorization means a resolution,
order or ordinance that is approved or adopted, or any other action taken in a proceeding, by the governing
body of an issuer in authorizing the issuance of a public security.
Total Principal of all Outstanding Debt Obligations. Total amount borrowed (par) of all obligations that have yet
to be repaid.
Combined Principal and Interest required to pay all Outstanding Debt Obligations on time and in full. Total
amount borrowed (par) that has yet to be repaid plus the cost of interest.
Total Authorized Debt Obligations Secured by Ad Valorem Taxation. Total debt obligations secured by a pledge
of property taxes.
Total Principal of all Outstanding Debt Obligations secured by Ad Valorem Taxation. Total amount borrowed
(par) of obligations secured by a pledge of property taxes that have yet to be repaid.
Combined Principal and Interest required to pay all Outstanding Debt Obligations secured by Ad Valorem
Taxation on time and in full. Total amount borrowed (par) of all property tax-secured obligations plus the
cost of interest.
Total Authorized Debt Obligations secured by Ad Valorem Taxation expressed as a Per Capita Amount. Total
authorized debt obligations secured by a pledge of property taxes divided by the population of the political
subdivision.
Total Principal of Outstanding Debt Obligations secured by Ad Valorem Taxation as a Per Capita Amount. Total
amount borrowed (par) secured by a pledge of property taxes divided by the population of the political
subdivision.
Combined Principal and Interest required to pay all Outstanding Debt Obligations secured by Ad Valorem
Taxation on time and in full as a Per Capita Amount. Total debt obligations secured by a pledge of property
taxes plus the cost of debt service on these obligations divided by the population of the political subdivision.
Population total used to calculate per capita figures. The denominator used to calculate per capita figures. This
is a population total for the political subdivision.
Source and Year of population figure used to calculate Per Capita figures. The source of population data
comprising the denominator of per capita figures.
Outstanding Debt Obligation. An issued public security that has yet to be repaid.
GLOSSARY OF TERMS
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Conduit or Component Debt. Debt that is not a legal liability of the political subdivision but is secured by another
entity.
Principal Issued. Total amount borrowed (par).
Principal Outstanding. Total amount borrowed (par) of obligation that has yet to be repaid.
Combined principal and interest required to pay each Outstanding Debt Obligation on time and in full. The total
amount borrowed (par) plus the cost of interest for each individual debt obligation or bond series.
Final Maturity Date. The final payment date of individual debt obligation at which point all principal and interest
will be paid off.
Secured in any way by Ad Valorem Taxes. Indicates which individual debt obligations are in part or whole pledged
with property taxes.
Total Proceeds Received. Total assets received from the sale of a new issue of public securities.
Proceeds Spent. The portion of total proceeds received that have been spent.
Proceeds Unspent. The portion of total proceeds received that are remaining to be spent.
Official stated purpose for which the debt obligation was authorized. The reason for the debt issuance as
defined in ballot language, if applicable, or the Official Statement.
Current Credit Rating. Existing rating given by any nationally recognized credit rating organization to debt
obligations.