HomeMy WebLinkAbout2026-020 Annual Debt Summary 2025 Date: February 20,2026 Report No. 2026-020
INFORMAL STAFF REPORT
TO MAYOR AND CITY COUNCIL
SUBJECT:
City's Annual Debt Summary Report with principal and interest outstanding as of September 30,
2025.
BACKGROUND:
This report is prepared to provide residents and the public with a comprehensive and easy-to-
understand summary of the City's debt profile. It also includes required information in
accordance with Texas Local Government Code 140.008.
The report provides a high-level introduction to the types and uses of debt issued by the City.
The City's most recent bond ratings are in the chart below.
Standard&Poor's Fitch
General Obligation Debt AA+1 AA+3
Revenue Bond Oeb A+' A
1S&P GO/CO,July 2025.
zS&P Utility System Revenue Bonds,November 2024.
FFitch GO/CO,July 2025.
4Fitch Utility System Revenue Bonds,April 2025.
The report details the principal and interests of each central City service area and provides two
visual representations by dollar amount and percentages.
This Annual Debt Summary Report is provided to the City Council for feedback.
CONCLUSION:
The report will be updated annually with the City's fiscal year-end.
ATTACHMENT(S):
Annual Debt Summary Report as of September 30, 2025
STAFF CONTACT:
Randee Klingele, Treasury Manager
(940) 349-8206
Randee.klingele(d),cityofdenton.com
C itY of Denton
Debt Summary Report
Fiscal Year Ending September 30, 2025
Contact:
City of Denton Finance Department
Attn: Matt Hamilton—Chief Financial Officer
215 E. McKinney St.
Denton, Texas 76201
Email: Matthew.Hamilton@cityofdenton.com
Phone: 940-349-8127
Fax: 940-349-7206
Website: www.ciiyofdenton.com
Published: February 20,2026
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.
1
TABLE OF CONTENTS
Introduction.......................................................................................................3
CITYDEBT 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
Schedule—Airport and Internal Service Funds............................................................. 22
Bar&Pie Charts—Airport and Internal Service Funds.................................................... 23
HOUSE BILL 1378 SECTION
Summary of Debt Obligations...................................................................................25
Individual Debt Obligations.....................................................................................26
Glossaryof Terms................................................................................................29
2
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. 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
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.
Standard&Poor's Fitch
General Obligation Debt AA+1 AA+3
Revenue Bond Debt A+Z A
1S&P GO/CO,July 2025.
zS&P Utility System Revenue Bonds,November 2024.
'Fitch GO/CO,July 2025.
4Fitch Utility System Revenue Bonds,April 2025.
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 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 as 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.
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 applied to the Street Improvement Fund.
3
UTILITY SYSTEM REVENUE DEBT:
The second category of debt is Utility System Revenue 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. As of September 30, 2025, the City's outstanding utility system revenue debt is the Utility
System Revenue Bonds, Series 2017, 2021, Utility System Revenue Note, Taxable Series 2024, and the 2024 Texas
Water Development Board issuance.
OUTSTANDING DEBT:
The City's total outstanding principal and interest as of September 30, 2025, is $2,662,462,163, as shown on page 6
of this report.
4
CITY DEBT SECTION
5
Total Outstanding Debt(in millions) as of September 30, 2025
Principal Interest Total
GO s 486 162 648
COs 1,049 516 1,565
Revenue Bonds 330 119 449
Total $ 1,865 $ 797 $ 2,662
City of Denton
Total Annual Debt Service(Principal&Interest)-All Debt
Fiscal Year Ending September 30,2025
FY End General Obligation Bonds(GOs) Certificates of Obligation(COs) Revenue
9-30 Tax Supported Revenue Supported Tax Supported Revenue Supported Bonds Total
2026 $ 33,045,006 $ 20,553,469 $ 22,071,208 $ 67,416,262 $ 32,960,804 $ 176,046,750
2027 32,730,281 22,234,750 20,864,562 64,572,038 32,967,932 $ 173,369,564
2028 31,238,350 20,853,600 19,557,812 64,120,788 32,967,080 $ 168,737,630
2029 30,086,178 19,728,325 17,825,662 63,649,838 32,965,481 $ 164,255,484
2030 30,096,694 19,843,700 16,238,787 63,000,463 25,835,451 $ 155,015,095
2031 29,772,966 14,431,625 14,570,863 61,946,038 25,835,361 $ 146,556,852
2032 29,608,419 13,136,750 14,426,778 61,977,141 25,836,599 $ 144,985,687
2033 29,376,159 10,575,875 14,101,000 61,976,738 25,836,220 $ 141,865,992
2034 28,657,722 7,312,875 13,479,219 61,961,938 25,840,909 $ 137,252,662
2035 28,031,881 5,885,000 12,393,963 60,453,766 25,834,507 $ 132,599,117
2036 26,280,734 2,520,000 12,375,831 61,263,763 25,840,608 $ 128,280,936
2037 25,193,603 2,541,250 12,137,144 60,082,563 25,836,517 $ 125,791,077
2038 24,070,641 2,565,750 11,557,044 60,014,200 7,763,926 $ 105,971,560
2039 22,694,063 2,588,125 9,755,684 59,656,044 7,766,012 $ 102,459,928
2040 21,448,769 - 9,493,425 61,609,603 7,768,082 $ 100,319,879
2041 19,846,163 8,110,825 61,023,144 7,765,038 $ 96,745,169
2042 16,256,700 7,031,575 58,517,941 7,766,778 $ 89,572,994
2043 12,001,325 6,867,175 53,060,019 7,768,614 $ 79,697,133
2044 9,573,425 5,404,250 49,173,359 7,765,222 $ 71,916,256
2045 3,259,500 1,686,125 37,198,672 7,770,400 $ 49,914,697
2046 - - 21,028,341 7,763,940 $ 28,792,280
2047 18,026,741 7,765,985 $ 25,792,726
2048 14,489,166 7,771,213 $ 22,260,379
2049 14,491,147 7,774,004 $ 22,265,151
2050 14,104,913 7,769,277 $ 21,874,190
2051 12,952,491 7,772,274 $ 20,724,765
2052 11,091,200 548,070 $ 11,639,270
2053 9,122,253 549,664 $ 9,671,917
2054 5,100,719 550,182 $ 5,650,901
2055 - - - 1,886,000 550,125 $ 2,436,125
$ 483,268,578 $ 164,771,094 $ 249,948,934 $ 193149967,281 $ 4499506,276 $ 2,6629462,163
6
"I'otal Annual Debt Service(S)
$180.0
9 $160.0
$140.0
$120.0
$100.0
$80.0
$60.0
$40.0
$20.0
$0.0
■GO-Tax Supported ■GO-Revenue Supported■CO-Tax Supported
■CO-Revenue Supported■Revenue Bonds
Total Annual Debt Service(%)
CO-Tax Supported,
GO-Revenue Supported, 9.39% CO-Revenue Supported,
6.19%
49.39%
GO-Tax Supported,
18.15%
Revenue Bonds,
16.88%
7
City of Denton
Total Annual Debt Service (Principal& Interest)- Tax Supported Debt
Fiscal Year Ending September 30, 2025
FY End General Obligation Bonds Certificates of Obligation
9-30 (GOs) (COS) Total
2026 $ 33,045,006 $ 22,071,208 $ 55,116,215
2027 32,730,281 20,864,562 53,594,844
2028 31,238,350 19,557,812 50,796,162
2029 30,086,178 17,825,662 47,911,841
2030 30,096,694 16,238,787 46,335,481
2031 29,772,966 14,570,863 44,343,828
2032 29,608,419 14,426,778 44,035,197
2033 29,376,159 14,101,000 43,477,159
2034 28,657,722 13,479,219 42,136,941
2035 28,031,881 12,393,963 40,425,844
2036 26,280,734 12,375,831 38,656,566
2037 25,193,603 12,137,144 37,330,747
2038 24,070,641 11,557,044 35,627,684
2039 22,694,063 9,755,684 32,449,747
2040 21,448,769 9,493,425 30,942,194
2041 19,846,163 8,110,825 27,956,988
2042 16,256,700 7,031,575 23,288,275
2043 12,001,325 6,867,175 18,868,500
2044 9,573,425 5,404,250 14,977,675
2045 3,259,500 1,686,125 4,945,625
$ 483,268,578 $ 249,948,934 $ 733,217,512
8
Tax Supported Debt (S)
$60.0
$50.0
$40.0
$30.0
$20.0
$10.0
$0.0
kn 00 M v�
O O O O O O O O O O O C O O
N N N N N N N N N N N N N N N N N N N N
NCO ■GO
Tax Supported Debt(%)
co
34.09%
GO
65.91%
9
City of Denton
Total Annual Debt Service(Principal&Interest)-Revenue Supported Debt
Fiscal Year Ending September 30,2025
FY End General Obligation Bonds Certificates of Obligation
9-30 GOs Cos Revenue Bonds Total
2026 $ 20,553,469 $ 67,416,262 $ 32,960,804 $ 120,930,535
2027 22,234,750 64,572,038 32,967,932 119,774,720
2028 20,853,600 64,120,788 32,967,080 117,941,468
2029 19,728,325 63,649,838 32,965,481 116,343,644
2030 19,843,700 63,000,463 25,835,451 108,679,613
2031 14,431,625 61,946,038 25,835,361 102,213,024
2032 13,136,750 61,977,141 25,836,599 100,950,490
2033 10,575,875 61,976,738 25,836,220 98,388,833
2034 7,312,875 61,961,938 25,840,909 95,115,721
2035 5,885,000 60,453,766 25,834,507 92,173,273
2036 2,520,000 61,263,763 25,840,608 89,624,370
2037 2,541,250 60,082,563 25,836,517 88,460,330
2038 2,565,750 60,014,200 7,763,926 70,343,876
2039 2,588,125 59,656,044 7,766,012 70,010,181
2040 - 61,609,603 7,768,082 69,377,685
2041 - 61,023,144 7,765,038 68,788,182
2042 - 58,517,941 7,766,778 66,284,719
2043 - 53,060,019 7,768,614 60,828,633
2044 - 49,173,359 7,765,222 56,938,581
2045 - 37,198,672 7,770,400 44,969,071
2046 - 21,028,341 7,763,940 28,792,280
2047 - 18,026,741 7,765,985 25,792,726
2048 - 14,489,166 7,771,213 22,260,379
2049 - 14,491,147 7,774,004 22,265,151
2050 - 14,104,913 7,769,277 21,874,190
2051 - 12,952,491 7,772,274 20,724,765
2052 - 11,091,200 548,070 11,639,270
2053 - 9,122,253 549,664 9,671,917
2054 - 5,100,719 550,182 5,650,901
2055 - 1,886,000 550,125 2,436,125
$ 164,771,094 $ 1,314,967,281 $ 449,506,276 $ 1,929,244,651
10
Revenue Supported($)
$140.0
0
$120.0
$100.0
$80.0
$60.0
$40.0
$20.0
III
$0.0
�c l� 00 01 O N M � kn iD r- 00 0\ O N M v1 �c l— 00 a) O N M � h
O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O
N N N N N N N N N N N N N N N N N N N N N N N N N N N N (V N
■GOs ■CO s ■Revenue Bonds
Revenue Supported (%)
CO
GO 68.16%
8.54%
Revenue Bonds
23.30%
11
City of Denton
Total Annual Debt Service (Principal &Interest)
General Government
Fiscal Year Ending September 30, 2025
FY End
9-30 General Water Park Total
2026 $ 54,945,002 $ 171,212 $ 55,116,215
2027 $ 53,423,350 171,493 53,594,844
2028 $ 50,624,380 171,783 50,796,162
2029 $ 47,742,949 168,891 47,911,841
2030 $ 46,166,758 168,724 46,335,481
2031 $ 44,175,326 168,502 44,343,828
2032 $ 43,866,440 168,757 44,035,197
2033 $ 43,308,226 168,934 43,477,159
2034 $ 41,967,913 169,027 42,136,941
2035 $ 40,257,006 168,838 40,425,844
2036 $ 38,517,544 139,022 38,656,566
2037 $ 37,330,747 - 37,330,747
2038 $ 35,627,684 - 35,627,684
2039 $ 32,449,747 - 32,449,747
2040 $ 30,942,194 - 30,942,194
2041 $ 27,956,988 - 27,956,988
2042 $ 23,288,275 - 23,288,275
2043 $ 18,868,500 - 18,868,500
2044 $ 14,977,675 - 14,977,675
2045 $ 4,945,625 - 4,945,625
$ 731,382,329 $ 1,835,182 $ 733,217,512
12
General Government ($)
$60.0
0
$50.0
$40.0
$30.0
5�0.0
SI U)
$0.0
ID l— 00 O, O N M I- vl C r— 00 ON O N M T v�
O O O O O O O O O O O O O O O O O O O O
N N N N N N N N N N N N N N cal N N N N N
■General ■Water Park
General Government (%)
General
99.75%
I
Water Park
0.25%
13
City of Denton
Total Annual Debt Service(Principal&Interest)-Electric
Fiscal Year Ending September 30,2025
FY End General Obligation Bonds Certificates of Obligation Revenue
9-30 GOs Cos Bonds Total
2026 $ 12,915,423 $ 26,690,113 $ 32,424,471 $ 72,030,007
2027 13,848,150 25,177,056 32,431,414 71,456,620
2028 13,249,125 25,166,806 32,430,178 70,846,109
2029 12,475,875 25,094,056 32,428,300 69,998,231
2030 12,556,125 25,083,556 25,298,164 62,937,846
2031 10,373,000 25,078,456 25,298,194 60,749,650
2032 9,221,875 25,085,881 25,299,853 59,607,609
2033 7,637,250 25,081,181 25,295,276 58,013,707
2034 4,973,125 25,086,206 25,301,145 55,360,477
2035 4,988,125 24,556,281 25,296,215 54,840,621
2036 2,520,000 25,513,819 25,299,258 53,333,077
2037 2,541,250 25,513,619 25,297,732 53,352,601
2038 2,565,750 25,513,631 7,223,309 35,302,690
2039 2,588,125 25,505,519 7,224,204 35,317,848
2040 - 28,274,800 7,225,700 35,500,500
2041 - 28,279,450 7,222,724 35,502,174
2042 - 28,275,866 7,225,125 35,500,991
2043 - 28,266,794 7,223,201 35,489,995
2044 - 28,264,159 7,221,587 35,485,746
2045 - 24,898,672 7,224,314 32,122,986
2046 - 21,028,341 7,221,224 28,249,564
2047 - 18,026,741 7,222,160 25,248,901
2048 - 14,489,166 7,221,888 21,711,053
2049 - 14,491,147 7,225,170 21,716,316
2050 - 14,104,913 7,221,849 21,326,762
2051 - 12,952,491 7,221,769 20,174,260
2052 - 11,091,200 - 11,091,200
2053 - 9,122,253 - 9,122,253
2054 - 5,100,719 - 5,100,719
2055 - 1,886,000 - 1,886,000
$ 112,453,198 $ 642,698,892 $ 433,224,423 $ 1,188,376,513
14
Electric($)
$80.0
a
0
$70.0
$60.0
$50.0
$40.0
$30.0
$20.0
$10.0
$
Ills.o
�D N C4 m m m m
N N N M M M M M M V'1 V'1 V'1 C, CD CD
0 0 N 0 0 N N N N 0 0 0 N N N N 0 0 0 N 0 N N N N N 0 0 0 0
N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N
■GO ■CO ■Revenue Bonds
Electric(%)
Revenue Bonds
36.46%
CO
54.08%
GO
9.46%
15
City of Denton
Total Annual Debt Service(Principal&Interest)-Water
Fiscal Year Ending September 30, 2025
FY End General Obligation Bonds Certificates of Obligation Revenue
9-30 GOs Cos Revenue Total
2026 $ 4,514,778 $ 15,755,021 $ 536,333 $ 20,806,132
2027 4,895,050 15,311,619 536,519 20,743,187
2028 4,238,000 15,308,619 536,902 20,083,521
2029 3,931,825 15,278,369 537,181 19,747,375
2030 3,958,825 15,271,569 537,287 19,767,680
2031 1,194,750 15,271,044 537,168 17,002,961
2032 1,211,500 15,279,444 536,747 17,027,690
2033 790,875 15,281,694 540,945 16,613,513
2034 788,750 15,276,619 539,764 16,605,132
2035 199,875 15,269,044 538,292 16,007,211
2036 - 15,281,394 541,349 15,822,743
2037 - 14,789,981 538,786 15,328,767
2038 - 14,786,569 540,617 15,327,186
2039 - 14,784,791 541,809 15,326,599
2040 - 14,590,894 542,382 15,133,275
2041 - 14,592,138 542,315 15,134,452
2042 - 13,449,100 541,653 13,990,753
2043 - 11,762,800 545,413 12,308,213
2044 - 10,263,150 543,635 10,806,785
2045 - 5,955,250 546,086 6,501,336
2046 - - 542,716 542,716
2047 - - 543,825 543,825
2048 - - 549,326 549,326
2049 - - 548,835 548,835
2050 - - 547,428 547,428
2051 - - 550,505 550,505
2052 - - 548,070 548,070
2053 - - 549,664 549,664
2054 - - 550,182 550,182
2055 - - 550,125 550,125
$ 25,724,228 $ 283,559,105 $ 16,281,853 $ 325,565,187
16
Water ($)
S25.0
0
$20.0
$15.0
$10.0
$5.0
$0.0 ■ ■ ■ ■ ■ ■ ■ ■ ■ ■
O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O
N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N
■GOs ■COs ■Revenue
Water (%)
Revenue
5.00%
GO
7.90%
CO
87.10%
17
City of Denton
Total Annual Debt Service(Principal&Interest)-Wastewater
Fiscal Year Ending September 30, 2025
FY End General Obligation Bonds Certificates of Obligation Revenue
9-30 GOs Cos Bonds Total
2026 $ 1,701,765 $ 16,820,839 $ - $ 18,522,604
2027 1,980,850 16,499,431 - 18,480,281
2028 1,944,125 16,508,181 - 18,452,306
2029 1,953,250 16,443,306 - 18,396,556
2030 1,958,125 16,451,081 - 18,409,206
2031 1,690,625 16,453,631 - 18,144,256
2032 1,734,875 16,456,281 - 18,191,156
2033 1,222,250 16,454,381 - 17,676,631
2034 878,125 16,449,231 - 17,327,356
2035 456,125 16,450,031 - 16,906,156
2036 - 16,449,469 - 16,449,469
2037 - 16,230,019 - 16,230,019
2038 - 16,232,844 - 16,232,844
2039 - 16,230,478 - 16,230,478
2040 - 15,595,256 - 15,595,256
2041 - 15,011,119 - 15,011,119
2042 - 13,901,425 - 13,901,425
2043 - 10,947,025 - 10,947,025
2044 - 9,773,875 - 9,773,875
2045 - 5,770,750 - 5,770,750
$ 15,520,115 $ 301,128,655 $ - $ 316,648,770
18
Wastewater($)
y $20.0
C
O
$18.0
$16.0
$14.0
$12.0
$10.0
$8.0
$6.0
$4.0
$2.0
$0.0
%4 l— 00 OS O -- N en 1* kn "G l� 00 ON O -- N M 1* Ln
N N N N N N N N N N N N N N N N N N N N
■GOs ■COs
Wastewater(%)
CO
95.10%
GO
4.90%
19
City of Denton
Total Annual Debt Service(Principal&Interest)-Solid Waste
Fiscal Year Ending September 30, 2025
FY End General Obligation Bonds Certificates of Obligation Revenue
9-30 GOs Cos Bonds Total
2026 $ 1,219,028 $ 5,198,592 $ - $ 6,417,619
2027 1,279,950 4,710,450 - 5,990,400
2028 1,180,100 4,313,700 - 5,493,800
2029 1,129,250 4,041,575 - 5,170,825
2030 1,132,000 3,634,825 - 4,766,825
2031 929,750 2,793,575 - 3,723,325
2032 725,750 2,799,125 - 3,524,875
2033 684,000 2,790,700 - 3,474,700
2034 555,000 2,792,150 - 3,347,150
2035 240,875 2,798,500 - 3,039,375
2036 - 2,795,500 - 2,795,500
2037 - 2,325,275 - 2,325,275
2038 - 2,259,100 - 2,259,100
2039 - 2,254,975 - 2,254,975
2040 - 2,258,300 - 2,258,300
2041 - 2,254,475 - 2,254,475
2042 - 2,252,850 - 2,252,850
2043 - 1,753,425 - 1,753,425
2044 - 707,050 - 707,050
2045 - 538,125 - 538,125
$ 9,075,703 $ 55,272,267 $ - $ 64,347,969
20
Solid Waste ($)
$7.0
c
0
$6.0
$4.0
$3.0
$2.0
$1.0
0.0
t` 00 0� O \0 l— 00 ON O V!l
N N N N N N N N N N N N N N N N N N N N
■Gros ■Cos
i
Solid Waste (%)
GO
14.10%
CO
85.90%
21
City of Denton
Total Annual Debt Service (Principal& Interest) -Airport and Internal Service Funds
Internal Service Funds: Technology, Fleet, Customer Service
Fiscal Year Ending September 30, 2025
General
Obligation Certificates of
FY End Bonds Obligation Revenue
9-30 GOs Cos Bonds Total
2025 $ 202,475 $ 2,951,697 $ - $ 3,154,172
2026 230,750 2,873,481 - 3,104,231
2027 242,250 2,823,481 - 3,065,731
2028 238,125 2,792,531 - 3,030,656
2029 238,625 2,559,431 - 2,798,056
2030 243,500 2,349,331 - 2,592,831
2031 242,750 2,356,409 - 2,599,159
2032 241,500 2,368,781 - 2,610,281
2033 117,875 2,357,731 - 2,475,606
2034 - 1,379,909 - 1,379,909
2035 - 1,223,581 - 1,223,581
2036 - 1,223,669 - 1,223,669
2037 - 1,222,056 - 1,222,056
2038 - 880,281 - 880,281
2039 - 890,353 - 890,353
2040 - 885,962 - 885,962
2041 - 638,700 - 638,700
2042 - 329,975 - 329,975
2043 - 165,125 - 165,125
2044 - 35,875 - 35,875
$ 1,997,850 $ 32,308,363 $ - $ 34,306,213
22
Airport & Internal Services Revenue ($)
y $3.5
c
$3.0
$2.5
$2.0
$1.5
$1.0
$0.5
$0.0 '
v1 �D � o0 01� O N M �t kn1.0 r- 00 01\ O N M
O O O O O O O O O O O O O O O
N N N N N N N N N N N N N N N N N N N N
■GOs ■COs
Airport & Internal Services Revenue (%)
94.18%
5.82%
23
HOUSE BILL 1378 SECTION
24
City of Denton
Summary of Debt Obligations
Fiscal Year Ending September 30,2025
TOTAL TAX-SUPPORTED AND REVENUE DEBT HB 1378 Calculation Ili City Calculation(2)
Total Authorized Debt Obligations $ 2,078,325,000 $ 2,078,325,000
Total Principal Of All Outstanding Debt Obligations $ 1,864,700,000 $ 1,864,700,000
Combined Principal And Interest Required To Pay All Outstanding Debt Obligations On Time
And In Full $ 2,662,462,163 $ 2,662,462,163
TOTAL DEBT SECURED BY AD VALOREM TAXATION
Total Authorized Debt Obligations Secured By Ad Valorem Taxation $ 1,748,255,000 $ 750,215,000
Total Principal Of All Outstanding Debt Obligations Secured By Ad Valorem Taxation $ 1,534,630,000 $ 536,590,000
Combined Principal And hiterest Required To Pay All Outstanding Debt Obligations Secured By
Ad Valorem Taxation On Time And hi Full $ 2,212,955,887 $ 733,217,512
PER CAPITA TOTAL DEBT SECURED BY AD VALOREM TAXATION
Total Authorized Debt Obligations Secured By Ad Valorem Taxation Expressed As A Per Capita
Amount $ 10,532 $ 4,519
Total Principal Of Outstanding Debt Obligations Secured By Ad Valorem Taxation As A Per
Capita Amount $ 9,245 $ 3,233
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 $ 13,331 $ 4,417
Population Total Used To Calculate Per Capita Figures 165,998 165,998
Source And Year of Data Used To Calculate Per Capita Figures FY24/25 ACFR FY24/25 ACFR
(n 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,Solid Waste,Airport,Customer Service,
Tech,and Fleet)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.
25
CBy of Demon
bdibb—Debt Oldi itfn
Fmml Year EMing September 30,2025
OWsmrding Dem Secured by Ad Cvrmt CroftRatln
Oblintion Priroipal lewd Pnmiml O�mndim Combined Pnmiml&baerest Fit Maturity Dat, Valorem Taxes Toml P—.&R-i,,d Proceeds Spero Proceeds Unpem MoodWs S&P Filch
C..Hi—or $ 89,180,000 It 18,105,000 S 28,274,325 February 15,2044 Yes S 93,181,W5 $ 93,781,795 $ - Not Rated AA+ AA+
Obligation,Series 2014
PraeMls oftM1esaleofNm Certiflcam5 will beused(n)argw'iNono[vemcles aW egWpml fr,nW acquiring cone fii,inmlling and eywp geddift.,—ion, ,NpCty'solid caste disposal sysmra,imb,di%fe acquisition of Ind for Nm City ImW811;(b)rcmvation to,till egwpph,
of,exisfing nurucipel buildings,including the acquisition and inWlation of replmeneta hating verWng and air conditioning-laipmem,roofing aW flooring(c)mgidisifi.ofvehidte aW egwpm.Mfr tie fire,police,baildiiig inpectiors,mutrM services,streetsaW traffic control,facilities mangememaW parksaW recretfi.
ii-m—;(6)wnoucfing mW itmroving'—'inclWing itnmllafion oftrafficsignals;(,)acquiring conhvcting installio W equipping hangars fr Oe mmicipel airport;(1)acquiring wnavft inmlling aW equipping addition,emersion,rerovafionaW itoprovetrems ro th Civic Cenmr Pool facilities;(g)acquiring
ding inmlling eM,gwppingr.placem.m facility fr Fire Smtion Nuvber2,illWingrelated site pr.P—.;(h)mqui,iti,nof.q.pmemfr,till.,itin,eonlrmfg,installing till egmppiv ddid..,emeni,rs,—tttien till improvemmOs m,OeCiry,w¢lurks till sewer system(1)acquisition of.q,—m
lbr and acquiring contracfi%inmllingaW equipping addition,emersion,rmovad—aW improvemems m,the Citys elutric light aW power system;till also forth,propose ofpayit,all portion fthe Citys contractual.1,hpliors f-W.f8esiomismicee,immuring engircers,a bi—,anorrcys,trap mhrs,aWimrs,
aM ti—t]advisors,in t...h nwif said p jum aM said CerNficalee.
Gemnl Obligation $ 7330,000 $ 2,130,000 $ 2,40,700 Fehrmry M,2034 Yee $ 4,063,543 $ 4,063,543 $ - Not Rated AA+ AA+
RefuMing all
LuprOvemem Bonds,
Series 2014
Preceed'tdN Bonds are expected to be used(I)mrcfimd certain ouecmMivg oblimtlon off C'ryfrdebtservicesavings;(it)forvarious'tr-tioprovemens,aW(iii)it,payfe costs a'alamd wif fe msmue nffe B,W'.
Ceatill d"of S 93,015,000 $ 31,900,000 S 51,460,000 February 15,2045 Yes S 9]983,335 $ 97983,335 $ - Not Rath AA. AA+
Obligation,Series ZOIS
w.ti,d'.fhM1sleoff Ce—.—,i11 he—bit acgWs tlo o[emcles n,W egwpment fr aW acqu ring- fii,i,MllingaW eywpping eddiii—,emmcion,m 6-1 and ii,,— ems to fe Citys slid ate disposal sy,terq iuluding fe agis noflaW for Nm City landfill,(b)—tfins 1, eywpping
of exisdng twdcipal bwidii,,inI,Abgfe-qui,idon and inmllallon of teplaceiteM heating veld rig WairwWitioWng egWprum,roofing aW fl—ii,,(c) 'gwsldon ofvekcles aW aqm,—Ifr fe fire,police,bwidin incpanmrc, ,,id i s aw trafficmmol,militias ma®gemeM,and parks nW recrcadon
aparmems;(6)acquiring eonhucting,inmlling aW egwppimg parking foci lities;(e)acquisition of IaW and b�lding ro be tied f.,MM W stratlov facilities aWl.,park proposes;(f)etq.,i.&contracting,inmlling aW equipping addition,emersion`rerovafion and inprovertenm m th Civic Curter Pool facilities;eW(10
acquiring co t-big installing all equipping replacevem facility fr Fit.Station bin ,2,fclWing relat,d sit,preparafion and acgmfg centrucfing,imbdlivg and egwppivganew fit.smMgimlWivg the mgW.t.fliid tl—fbr;(h)acgweifiovofvewcles all egwp—tfog,till mgwrfg corstrveting,imtalling all
o p.rtadohon City,
ell it�rovemevis m,the Citys wWaterworks ands,earwcefrtt.N,anaond(i),amcgWpWuov o,fegwpme,mllffimtillaW-ryffg mrseucNvg,faallivg andegwppivg adfMn,emersion,remvaMn and improvermvm m,Om Citys electric figln and power eyercm,till also fr feptupose ofpayivgall
advisors,f comuMnrtf said projects till said('em'flwcea.
Gene Obligation S 37,640,000 S 6,395,000 S 6,633,01 February 15,2028 Yes S 23,013,425 $ 23,013,425 $ - Not Rated AA+ AA+
RefuMing and
LmprovemeIN BOMB,
seder 2015
Proceeds nffe Bolds me expeced m be used(i)ro refmd certain oumtetding obligation ofthe Ciry fr debtservice saving;(ii)for street itmrovetrems,poblie safetyficilities ittptovetrenm,srortmvet-drainge and flood control improvemenm,aW petksysmmimptovemmm,and(iii)ro pay the wsm assothttedwif tle is,mm,
ofNe Bonds.
General Obligation $ 33,945,000 $ 325,000 $ 331,s00 February 15,2026 Yee $ 3],992,142 $ 37,992,142 $ - Not Rated AA+ AA+
Re 9 BOMB,Series
2015
Praccds offt Bonds will be aced(i)memreMy refund iv pen,till advamercfM in pars cumin oWsmMivg obligNon ofthe City fr debt service savings;(ii)m rcfirsme a portion ofihe Citys contra IobligationmOre Texas MmNWpal Power Agercy(fe"TMPA")rid-a power sales--it,fe TMPA,specifically
in respect to the rcfimding ofapproxiumely$3,430,0001n maturity value o£ce moummMirig—A bolls;aW(iii)to paytie costs a,aiacedwithNkisswue ffeBOW,-
Cemitcates of $ 83305,000 $ 57,170,000 S ]8,9%,9]2 Feb—15,2046 Yes S 92,340,554 $ 92,340,554 $ - Not Rated AA+ AA+
Obligation,Series 2016
P i,t ,fiomfe sale ofth,,Certificates will betied bit aogwsition ofvehicles ad equipnemft,all acgmnog, id a ppiogaddition,emersion,remvation and improvemens to,tle City,solid wnce disposd stye,-m itelWing lk mgtdi,ifi..of1aW fr the City Imdfill;(h)remvetion mall
egwp of,existing mmiciml building,imlWingteacq i6...,dinmllaMn,fr.Plac.m.nt heating veMngaM air c,M-it"egwpmem rmfim all Floon�g;(c)acquisition ofvefcleeall equiPtum frtie fire,police,bWldingirspecti,n,conmsuuty itryrovememelites,aWcoal services,streets and o-dffe control,
futilities memgutmr,all parks all rccreatiov departmmm;(d)ecgwnng,contrrctivg,inmling all cgwpPiog edditron,emarsiors,r-wvatiors till it�rovemams m parking mcilitiam(e)mrstructing till ivprovivg etreem,irclMing IaMacapivg fainge,Mlity lircrelocaton all the acgwsition oflaM till riglvs-Of--way
therefor,(t)acgwnng co fi,inmlling all cquippivge row fire b.iWngfacility,aW(g)acgmsidon of leM frauw fire emtiov;(h)acquisitim ofvefcln all egimpmmt f.,aMacgwnng conwctivg,inMlivg all egwppivgadffion,exlmeion,t—tdion till improvememc m,the Citys w uworksaM sewn system;
all(i)acgwmNon of,qW,—I bit,a,id a,gWd.&wactr,ctivg,inmlBng all egwppingaddi,o eaenciou,rcuvatlon,W improve ,theCity,elecMc Bgf till pow-system aW also for Nm,t ,ofp,ji,all ors Ironton nffe City,comre ]obligati,-fr prof'sloml,ervioes,ircAWii,,,gi—,arcmtecm,
Moneys,trap rakers,audimrs,eW finuiel Mvisors,in cometfion with said projecm aW said Ce fificaes.
Geu lotdigation $ 28,930,000 $ 14380,000 $ 16,435,950 Fehtvry 11,2036 Yee $ 16,915,297 $ 16,915,29] $ - Not Rated AA+ AA+
Re—.g and
llnprovemem Bonds,
Series 2016
Proceeds oftM1e Bolds are exp-ted m be uM(1)b,rcfimd certain ours"bt,,obli,,,di—nffe pry fr debt service savings;(it)for so-eet Improvetrern,public'afery ficilifie'Irrymo..—,mMmwat-dtelmge and flood mmol ittprovetrcm',eW park systemirrymovemenm,aW(Ili)m pay the msm a'socated with Nm is--
oftleBonds.
Geunl Obligation $ 38,425,000 $ 14365,000 $ 15,49].900 Febuary 15,2030 Yee $ 175,657 $ 175,657 $ - Not Rated AA+ AA+
Rtf_ft Balls,Series
2016
Prmeeds fiomthe s b,ofth Bolds,ttwth- fli frids contributed bythe City,are expected robe used(d refimd all omsmMing obligtion oft,City,Utility Syscem fr debtservice saving;eW(it)b,pay the cosh associated withthe imam.ofth Bonds.
Utility System Revenue $ 214,890,000 $ 163,165,000 $ 216,909,125 December 1,2036 No $ 246,164,298 $ 245,739,737 $ 424,561 Not Rated A+ A
Bands,Series 201]
Pierced,fiomihe sale oftle Series 2016 Boll,will bened to(a)acgWre aW eorstruct addition eW improvemmms ro tle Citys elearic light end power system irolWing taw quick srertpeak power gemretion facilities;(b)fmW cepimlired imerestontle Suits 2016 Bonds;and(c)peytle costs ofissuatme in wmecti0n wif tle
issuance oftb,Series 2016 Honls.
Cem-.-or $ 90,800,000 $ 59"n'ti00 $ 87,392,750 February 15,2047 Yea $ 98365,003 $ 98365,003 $ - Not Rath AA+ AA+
Obfigati-sales 2017
Proceeds fiomthe sale oftle Certificates will be tied for(a)mgwsition ofvehicles till equiptrem fr,till acquiring contracting inmlling till egwppim addifiors,emersion,rerovafion aid inprov.meme m,the Ciry. lid waste disposal system;(b)rerovafion m,all equipping of,edsfing mml building,immWing the
acgwsition till inmllalim ofreplacetrem M1eaNng vmting till air coMitioWngegWpmem,roofing all Flooring,(c)mq.i ifion ofvebicles all egwp�rcnt fr the fire,police,bWlding inpecMn,cotrvnfty inprovemem,unites,aWmal,unites,stream all trafic control,ficilifin mamgemem,all parka all reueation deparimems;
(d)acgmntg,cono-uting inmlliogaW egw,,mg addition,emersion,—mi,n all boprovetunm m parting mcilltiem(e)contrmfivg aW itgaroviog'o-ems,iuluBng lw"vim,dmimw.witty llu relocatlon aW Nte acgwitlov ofleW aW dghm-of--way darcfot;(f)a,gW,ifonofegWp—fr,aW a,gwriM
ttmting,inmlling aW eympph,addition,emersion,—,dion aW itryrovemems to,tic city,eleco-ic light aW power sysmm aW also d,,th pupae ofpaying ll a or a pordon nffe City,coMmcm]obligation fr profrssioml services,iulWing engineers,arcWtecm,amttpys,map rink-s,audimrs,aW flmaial
advisors,in eomecfion with said projetm aW said Certificates.
General Obligation S 29,105,000 $ 11360,000 $ 13,713,978 Febrmry 15,2037 Yea $ 17,294,8]1 $ 16,832,944 $ 461,927 Not Rated AA+ AA+
RefutMng and
Lmprove tit B..&'
1-11017
Prateede,fth BMs me a b,drobenW(i)rorebbdterrainomsmMing obligpfiors oftle C'ryd.acrb.d on Schedule I amched lit—(Ore'R.fmtd.d Obligation")fr debt service roving;(it)f—eet inprovemmm eM public softy ficlities itoprov.tmms,all(iii)mmyth,anal ne,tiaced wif th issuance offs
Bonds.
Gemml Obllgml0n $ 19,235,000 It 14315,000 $ 17,816,963 Febrmry 15,2038 Ye, S 19,871,128 $ 19,871,128 $ - Not Raed AA+ AA+
Bondi,Series 2018
Proceeds,fit.BMWs areexpected m be aced(i)stre-Voprovemems,smmn water dining,all flour control li,,,— ems,aW park'yscemittprov-unm;',,d(it)m pay tbs toms a'sa Wwill lleissu—t,oftheBOW'-
Cedifimms of $ 9,555,000 $ 4,270,000 S 5,19],188 Febwry l5,2038 Yes S 10,020,370 $ 10,020,370 $ - Not Rath AA+ AA+
OWigatio Series 2018
Ii—t-will bencd fr(a)r-mvalion to,all egwppivg of,elating mnicipal building,immling tlm atgwsiliov all inW lotion ateplacment heating venting all air toMitioning cgwpmeot,roofing all donna&(b)acgwsition of,thiclee all egwpmem fr 0m fits policy bailding inputon,mnntafty inprovemem
coal,ervlces snotsaW naflic mmrol,faGlifia—,,pun,all Darin all to-""deparlmems;(c)Kgwring contracting inmllingaW Nmppivg additions emensionarenovation,w Voproverretn to rwrwaysaW ftxd—setfe mudlpal lrpon;all(d)acgwi,—b-fin,—A.,inmllingaW
e9,6pp R.stttio immling th atgWtib..flmdthrefr aW also frthpmpae ofpayimg all ore portionoftle Gigs comamwl obligation frprofs,ioml services,including e4—t,—Ifi ms,emrteys,nap rtal¢rs aWimrs,eW financial Mvisors,in eomactim wifsaid projeem and the Cetificaes(see"Plm of
Fi—frig").
cemlfreates of $ 29,M5,000 $ 20,075,00o S 25,159,553 Febuary 15,2038 Yes $ 31,802,097 $ 31,802,09] $ - Not Rated AA+ AA+
ONgetion,Series 2018A
Praeede fiomth sale offs Certificates will be sued for bd remvating mrstructing expelling improving all equippi,,,,-tfing municipal urvic,,c.mer bulding(b)corstrmting end improving etreem,irclWing laMuaping draimge,Witty lire rel,cafion till th ecquisiti,noflaM end ngha-of-wayferetor;(c)torslructing
meting all improving-Wcle roadways d Om mmicipal airport;(d)acgwnng—fit,inmlling all egwpping fire smtion,imlMivg the acgWsiuonoflaM ferefr;(e)acgwnvg contrucing,inmlling all egwppivg a public wfryficiliry fr the police deparNrcm,imindivg the acgwsitimoflavd therafr(acgwnvg
all ittcmlling a radio conamnicalion system fr the City;all also for tie propose otpaying all or a pomonoffe Ciry's contracmal obligatiore fr professioml services,irclwfingengimers,architects,atmrrcys,map mWmrs,aWimm,all 5mrcial advisors.
Geuml Obtgation $ 44340,00o $ 14,045,000 $ 17,359,]]5 Feb—q 15,2039 Yee $ 4&116,]0] $ 48,156,844 $ 19,863 Not Rated AA+ AA+
R—hig&
Improvement Bonds,
Series 2019
Proceeds nffe BMWs are expected to beuM(I)up m$28,620,000 fog t.public ptm i,o[rcfimding fe Refimded Obligation,(it)fib,fe purpou offt ugw,ifi ofprop-ry Wmating lmproveneMs fr publlepwpose,in,aldls to role(A)$14,580,OW frso-eet ii,,,—tmmis,M)$705,000 fr stomwater drzimge atd
flood ennui ivprovemems,aW(C)$4,085,000 fr park system improvements
c...titer of $ 2817551000 $ 19,280,000 $ u'sd,550 February 15,2W9 Yee $ 30,516,239 $ 30,516,239 $ - Not Rated AA+ AA+
Obligati.%Series 2019
ProseWs will be used fr acquisition ofequipnem fro etd aegWnng eonmtW rig inmlling all egWppingaddition,emersion,rerovafion all inprovemevm to,the(e)Issmrs waterworks sysem(b)Issuer's wnawacer system;all(c)0elssrots electric light mW power system mW also fr tle purpose ofpayiug all or a
portion ofthe Issuer's coMmml obligatiors fr professioml services,immuring engim-s,mcft,cm,anormys,map makers,authors,all fimroiel advisors,in cotuecnon wif said projecm all said Certificates ofObligatiom eW up to SI0,110,000 in primipel tstromrcfr tle Ompose of remvation m,all equipping of,existing
municipal building,(e)ill Wing the aegW anion all irsW 1aMnoPrepleeement heating veMvgaM sit toMitiofng equipmem roofing ell flouting(b)acgwsifiom ofvefeles all egwpm,m fr the fire,police,bwldivg inp,ctiona,tommmury itmrovetrcm eervieea,aWmal,ervites,streets and traffic control,fieilitiee mamgetmm
ell perks all re-eation deparmems;(c)contruciivg and improving stream,immling IatWecaping fairsge,Mlity live rcdocatiore all Nm acquisition oflaM all righm-o4way thuefr;(d)acgWnog mrstrucling irsmllivg all egwpping a public safety facility fr tle police depanmev5 immMing fe ecgwsition of IaM therefr;(e)
acgwntp,emending mretructing remvating improving all egwppingparking mcilities,irclMing the acgwsiMn of IaM thrcfr;all(f)acquisition all irsmllalion ofaxhulogy egwpmem irclWing conpWu equipmem all software for varion nsmicipal deparmmm;all also for Om propose ofpaying all or a portion nffe
I'iwr's coMracval obligation fr profs,loml serviaq itrAMitg mgluers,arcmmcm,avoruys,map maker,,aWitors,all flmaial Mvlsor',In commMov wif'ald ptojecm aW sold C-NOmte,o[t�bligatlort
26
City of Denlov
IvdtvWml Deb[OMigadim
Fiscal Year EtxBtg September 30,2025
Outstanding Debt Secured by Ad en
Obli®lions Rimidal Issued Primiml OukkWine ciib_d Primidal&Interest Fiml Maturity Dace Valorem Taxes Total Pr«eed Received Proceeds Sdem Roceds Uwdem MwdJs� CreS&P,t Fitch
General Obligation S 62,080,000 $ 36,890,000 $ 42,685,025 February 15,2010 Yes $ 70,866,9% $ 61,408,970 $ 9,457,986 Not Rated AA+ AA+
Refundng&
Imprvrvedmnt BnWa,
Series E0E0
Pr«eeds ofthe Bolls are Igd-d ro be used for(i)venous strwt Inprovetrxms,park system ingrovemems and public salty 5cihfies for tbd police departrdem,(it)to refired the bolds described in S I,id,le I-S,WWe of Refwded Obligliod,(de'Refivdd Obligati,.')for debt service saving aW(iii)ro pay the wsk
associatd with the leawme o[tle Bolds(see"Plano[Firetring").
Cerldfa[e of $ "U.100 $ 47,135,000 $ 58,574,625 February 15,2050 Yee $ 114,267,139 $ 64.267,131 $ - Not Rated AA+ AA+
Obligati,.,Series 2020
Proceeds will be used for the pury,se,fpayi.g all ors pordonoftM msmr'e iom ddl061i,,di.imtmed pwemnt id contracts for dte pmchwe,cdwtrmtion aW gmid..ofcerm—m and pi'—d property,bwit Wb$37,120,000 iv primipal amount far da pupose of.(a)acguisition ofiquip—for,add acquiring,
odrtin iwkllin dd equipping aditiow,extensions,rd—di.end ivprtrvetmms b,the Issmr's mascewacer system dill(b)acquisitinn ofequip.-for,dill acquiringcod—tintgiussllmg aW equipping eddifions,extewiow,renovdfiow aW idp—to,the Iss«r's electric light aW power system did also for the
purpose,£payingell or a portion ofth,iss«r's cowacdal obligefi..for profssiorel services,idildingengineers,—Iit«ts,a0orreys,rta,,makers,auditors,and fi—ml advisors,in c0wret-with said projects did said Certificates ofObligatm;all Wro$27,250,000 in pri ncipal atmtw for the pu—of(e)acquisition,f
vehicles aW equlpdtc1 br the fire,police,building idtspec twanuty idtptov i mat se eats add traffic cow-ol,facilifi wg—and Park'aW re a,o deparmiets;(b)acquiring c, ring imtalling and equipping additl Sandi ling fire
(c)a�q."%cmnbucnng,recowtr«ling remvatlng i—ling and equipping a tdmdoipal yoverormmeN building bt tmmicipal developtrem services aW otter wnicipal ads W strativerptdp,sw,and be acquisition oC1aW aW lncerosw in IaW all properties tlnrefm;(d)acquiring wwtrucfing recowo-mdvg remvatlng 1wWlling and
egWPPingmuucipd peks;(e)acgniring lad aW building for fciliry for htmrlees all iMigem shelter aW servi«e;aW also for the Ptvpose,£payingsll or a portion oftlte merors cwtractwl obligafiow forpr0fessi0ml services,imlWing engin«rs,arcWteck,atr0nm3s,map rakers,auditors,ad fimmial advisors,in cowecdon
with said pjeats did said Cituti tes o170bligafion(collwfively,the"Projear).
General Obligation $ 14,150,W $ 9,025,000 $ 10,23],]00 February m,2031 Yee $ 17,031,195 $ 17,631,1% $ - Not—it AA+ AA+
Refwdbtg.Ws,Series
2020A
Proceed oftle 13—are expelled b be wed bt(1)torefidd the bonds described Iv 9chedmaI-Sc dof.—dd Ob1lgNow(the"RefwBftl Obligatlow")for tlebt service eaWnga add(it)b pay tlw costs associated wlih the isamme,[the B,ds(see"Play ofPlwminQ').
cemmeater of S r,035,000 $ 82,965,000 $ 107,231,817 Fdruary M,—I Yer $ 1 Vtti,453 $ 104,246,453 $ - Not Rntcd AA+ pp+
Obligvlbq 8—2021
Pr«died from th,sale,—Cerfifica will be used br(i)acgms n ofegmpdtcnt hit,did azquiting co ling insal1mgadd eguippingaddifi maW iopro ro,tice City,w «6 aWw rsystem,hitacgms n,fiquipdmm acgwnng--in iii,dillin W egwpptng
additl rsaW i�ro ro,the Gy,i el« cl 1,f—h ppw«syscedq(iii)w trucdug and idtproving str mlWinglandscaping,da.p,n fi—fin l,c waWd ti,i. n,flaW add ngMsof-waytheref,r,(iv)acgws „fvel-titigW yiii for.gdgwpolice,building idupw
tmmrvtyinprovememnservlwe,ardtml services so-eem all trefflc comrol,fncilides manegetreN,and parks ell recreauov deparhrems;(v)re o,all equippingo(exlstivgwWclpal bWlrBvgs,Imludl,g tice acgweitiovaW lwmllatlon o[replacememheating,vemlvg and ah codditiorvvgegWpnem,roofing and Flo«ing
(vi)mgoiaiti,n all iwkllafion oftecMolOgy egoiPmwt ivcldivBeot�ubr cguiPmemaW software for variow mwieiPal deParhrenk;(vii)comtrod�,rac,mtrmdng,remvating iwmlling ad equippin8 fciliry fr homeless all idigem shelter ad sarviwe;and(vii)remvati0w m,expawiov of,did equipping exiefivBtmWcipd
vehicle dwinterence facility;did also for the pwpose,£paying ell or a portion ofthe Ciys cowactuel obligfiow for professiorel services,imlding engitrers,erchiteck,av,nrys,twp ndakers,auditors,aW£.mist advisors,in cotvrction will,said proj«k all Ne Certificaes(see"PlanofFimmi�').
General Obligation $ 54,710,000 $ 46,985,000 $ 57,305,081 February 15,2041 Yes $ 59,608,180 $ '%toli'mo $ - Not Rated AA+ AA+
.-,Sines 2021
<eeds h..1[ We oftlr Certificates will be used I.,(i)mgmhid..fequi dt for,ad acquiringc—tang,iwmlling and equipp addifiow,e#ewiom,renovafiow all inmms to,th,Ciys w rworks eW wastewater system,hi)acquisition ofiquip—for,add acquiring c,wbmting installing and equipping
additl st rsadiddpro ro,h,Ciys elecinc ho aW power ryscedq(iii)co d-fitg aW idryn,vingsId"i.[W,ng laWscapidtg draiwg,Wfiry lirerd maW the aiguis n,fl.W aW ngms-ot-waytlerefr;(iv)acgWs n,fvekcles and equipdtem for the fire,police,bwldingidupec
tyivprovememnservlwe,anima]smiwe,'—alltrafficr—d'hiillNes mwegetmm,and parks aWrecreafioo departrmms;(v)re .,..equippingoC idstldg tddWWpd bWlrBvg,Imludbg the acguieifiovaW lwkllatlw,ftep—lit heating veming aW air cOdditr«nvg dgWpnem,doofing and Fl,ming
(v)aigui,iflonaW iwwllatr,n,fceclnd,gy egmpmem im—,cottputer equipment aW software for vari,w nardcipal deparrmema;(vii)cowtru tim recowtru i%remvatlng i—Ring aW equipping mcilly for Mtmless all i Wignd shdbr aW services;aW(vii)rewvatlow 0,expamiw,f,aW equipping—ft,tnmicipal
vehcle maidd—facility;ad also for thi pure—fpayi.g all or a pardon ofthe Ciys commcval obligadowfo,professiorel servi«s,imlWing in—,architects,tiled-map nmkers,authors,and fimmialadvisors,in comsction with said Mj—aW th, 'fit—(see"Plavoflireming').
UIiWy System Revevoe $ 141,—.— $ 131,050,000 $ 187,795,347 December 1,-1) No $ 141,—,— $ 141,990,000 $ - --it A+ A
Refuddidg Eit d
Taxable 9el1e12021
Proceeds fiom thesale 0ftla Taxable Stties 2021 Bowe will be wed b(a)refwd outabtditg eonvrercial paper rates("Rafwded Notes");ad(b)pay the wsk ofisatame iv mmecfiovwith tlm ieauemeofthe Taxable Series 2021 Botde(Sea"Plev ofFimming-Purpose"did"Plan ofPinaming-Refimded Notea'�.
cemme...of $ 112,155,000 $ 101,100,000 $ 152,861,219 Fdruary M,2052 Yet $ 119,729,679 s 119,274,415 $ 455,264 Not Rvted AA. AA+
Obligvlbq 8—2022
Pr«sell from Ore sale,ftlr Cerfificates will be used for the pwuhese,cowlrucli,n aW acguisifion,fcerWn real aW persorel property,ro wit:(i)acquiring c,wtr«fing imWlitng aW egapping fire smfiom;(ii)azgasifionofveldcles aW eguipmem for the fire,police,building impecfiow,c,rmmdty itryrovetmm services,
mat servlwe,stream aW track c,mrol,mcllitles mawgemem,altpodt,technology services,tleettwregemem,wareh,we mwagevmtaW parks aW mcmatr,v deparmnvm;(itl)rem ro,aW eyWppivg of,edsmg®mlclpal6Wldvga,imludrg tlw acgWeitl,v aW lwmllatlov,Creplacttmm heating,vemlvg all air
condifioningegwptmm,roofid8 s,d floondg(iv).igmifi—iwbllafiw ofelithk l emmbt eguipmem fr ntmicipal bW t&-;(v)mquirin--fin and installing door eeetvity systems,indWftaecuriry ey d,—1 t logyegWPnevt aW soft—,fir ndni6pal bW l&-;(A).—fin--..fin—fin
-ddlin-egWPpivgwmicipalparka;(vii)remvafiova b,eapami,vo(ad aquppivg exiafivg wdciPd vehiclevaitmmme facility;and(vii)aegu dtidvofvabiclesand eguipmemfor,and acytumg mmttmfivg iwallitrgaWeguippingadditiow,edewi,m,r adore and irn,—vemab,We City,solid waste disposal
system;(u)acquisifionofegaptmm fr ad acquiring,cowtrucfivg,iwmllivg did equipping eddifiow,ndenslow,remvatiotuallitWrovetvems to,the Ciysw rworks and wastewater systetq eW(x)ecquisitionofequipmem for,aW ecqu'viug cowtruc0ug insiWliug and equipping eddifiovs,e#emiom,remvetiom and
itryrovemews id,0u City,el«sic hldd add power s idid aW also for did pwpose,fpayitng all ors porfi,n,fdr Ciys contrac IA,ligifidm for profssi,relservices,imlWingirteers,arcw—'atr,rtreys,trap rmkws,atdiw.,dill fimmial advisors,inc,nuucfion with said projects end the Cerfifi—(see'Planof
Fiwmivg").
Gemrvl Ob.gii— $ 7I,285,(00 $ 58,880,000 $ 82,1.,675 Febrmry 15,2.2 Yes $ 76,874,5]8 $ 76,874,578 $ - Nol Ruled AA+ AA+
Refuvdiog&
Irdprov v[Hovde,
Sides 2022
Proceeds of the Badds are expected m be wed for()various strta Wprovavnma,(ii)public safryfcilifiae,(iii)tlx acgasifiovo[pazklad,(iv)refwtdivg tla 061igafi0m described ui SchedWel-SchedWe ofRefwded Wligatiom(0te"Refmded Wligafiore")ft deb[emits savitge,eW(v)b pay the c0ak ase0ciakd wild the
wamme oftbe B,Ws(sae 71—fFi—idg').
Cerldeater of $ 149,140,000 $ 139,925,000 $ 218,058,025 Fib-15,200 Yes $ 158,357,363 $ 14CW,849 $ 11,693,514 Not Rated AA+ AA+
OWgvHOA SM.,2023
Proceds from the sale ofOdeC'fieatw will bawd for the pwchese,,ota ti.wd aequisifion ofididd real did P 1property,ro wit(e)acquiridg i---tiro itutalliug aW equipping fire smfi0m;(b)aequhitidd of ihiilda and equip—fir th,fire,police,building iwpwfiow,mt®ttuty ivprov dt smi,es,
ant.1 services,streak wdtrafficwvtrol'.citifies tmregemem,."Poq cechrology services,fleet mamgetmm—lid—idaoegev ad Parks did rwreafion depammuk;(c)remvait.to deguippiug of,exisfing mmicipal buildings,imlodiug Ore W v mgui,iddd e dllafiovofr l—tit heatlng vtidin and air
cdditi,ningequiptmm,roofing did flwtirtg;(it)acguiring..—fing mantling aW equipping police snfi, (,,)acquiring—fin aW iwmlling building securitysys—,ircludittga«wiry system technogy ol equipttmd sofiwwe,v ad uurticipal bWldings;()—d-fing recoh—hng,--fin itnkllitng ii,d
equipping mwucipal parka;(g)tewvatl,wto,expawlovof,and equipping—fin wmi6,,al vehicle rmlmemree m ihl (h)acq.—.and-allatiov 0[technnl0gy eq.,t i—in mdlo eguipi.Wp egmp—and--'f,t vari,w trmu,ipal d,diddidt,()w d—tig all improving str«k,Imlddidg
sigdalimfion Imtdscapitg dminvg,ddliry lira relocafiow aW tie acquisiti.ofladd and rigbk-of-way therefor;))--tin rec0—frog all temvafing rwwa}u add mxdways at dx mnicipal eip t;(k)acguieiti.ofvehicles aW egmpnem far,aW acquiring—zing i—ling aW equipping addifi0m,e—d.,
—fi..ad U`,P etnems to,did City,.lid waste disposal syste ()ecquisifiovofNuipmer[for,ddd quifn west fin iwWling all equipping idditi—,eatensines,remvafiom eW itvprovetdevk di,Le Ciysw rworla end wale W,sysW.did](dd qunitiov ofiquiptrem for,eW acguiring—d-fing,
twklling and equipping ddifiow,extemiow,remvafiom did improvenmms di,tlx Ciys electric light add power system,eW also frthe pwpose ofp.yiN all ore Porfiovoftbe Ciys Qom -dal obliliti.for profssioml services,imldivg ettgimers,wcb—,add—,traptdekers,auditors did fit hd advisors,in
wm«non will said pry«k did th,Certficates(see"Plan,fftamiry✓')
Gerard Obligation $ 72,625,000 $ 62,800,000 $ 83,930,225 Febtmry 15,2043 Yes $ 80,345,W $ .,rit,097 S 11,366,547 Nol Ruled AA+ AA+
Refunding all
hdprov vt Hovd,
Series 2023
Pr«sell of the Bond are expelled ro be used for(i)vanous.strem itrprovetrrws,(ii)refurding W,bligli,w deswib,d in Sclwdme 1-Schedde ofRefurdd Obligtlom(tlne"Refurded Obligtlotn')for debt service sevit�gs,aW(iii)to pay tlu wsk
associatW witM1 the issuers ofthe Bolds fs«"Plan ofPimming").
Gemrvl Obligatbn $ 11],63QOOo S 115,460,000 $ 168,211,225 Fd—,I5,2044 Yes $ 88,473,827 $ 11,015,128 $ ]],458,700 Nol Ruled AA+ AA+
Refunding all
hvprov tit BotWs,
Series 2124
PURPOSB...Proceeds oftbd Bonds are expect d to bew d for(i)veiow street improvem«k,(h)dreimge and flood wntrol itdprovetmw;(iii)perksys—nd,—ittems;(iv)fire and aW trel,otmol public salty feeilidd,;(v)a new SOtdt Bmmh library,(vi)
retutdidtg the obligfiow d"bd in ScbedWeI-ScMddI"fRefiuded Obligafi—(the"Refiuded Obligati.")firdebtservice saving,aW(vii)payidgthe c,sk—,,i,id web the issw«e,ftM B,Ws(sce"Plev,fFi.mg!').
27
City of Denlov
Indvidnal Debt Odigalian
—.1 Year EMing September 30,2025
OwsmMing Debt Secured by Ad en
Obli®Non Rimival lssmd Pcimivul0—s ins Combimd Pnminal&Idtd—t Firel Maturity Dace Valorem Taxes Toml Proceeds Rtteived Proceeds Svam RoceWs Unsoew MOOSE— S�Sffi Fimh
Certificates of S 242,790,OW It 234,805,000 S 359,W9,816 Ftb ,t5,2054 Yes $ 260,389,535 $ 113,762,579 S 146,627,006 Not Rated AA+ M+
OW,tl,,,Series 2024
PfIRPOSE...Proceeds fromthe sale afthe CerNficams will be need for tEe purchase,contrucfion aW acguisifiovafcetminreal aW pereorel property,m wit:(a)mgasidovofegnipmeNfor,aW mgnintg,covatmctirg,inWlivg aW equipping adWNon,excenion,remvafien aW improvemevs m,the Cirye waterworks aW
mr system;@)acgwaifiov ofegnipmem tbr,and acquiring mntrvcfing WsmllWg 1egWPPWgaddifion,extemiom,renovation mdimprovevevs m,the Ciys eleatrie ligideW power aysmm(n)remveting,aomUvclWg expendWg improving 1egWPPWgexistlngtvaWaipW serviaecwterbuildivg;(d)acgwsiYov oP
vehicles and aNipveN for the fire,police,bWldvginpecfion,cotmmmity ivmroveveN urvices,animal services,streets eW trade control,ficililies manageveM Wipom,techmlogyservices,Beet mmegemen4 wmehone®negement,eW parks eW iecresnon depac6mms;(e)cemvefion m,and egappivg of,existng tmmicipal
bwldirigs,imlWingtlm azquisirion eW iremllarion ofreplecenen[bearing venting erd air coWiriorNngequipnem,roofing and flooring(f)acquinrg,expaWing construcring,rerovatirig,improving and equippingparL'rig faciliries;(g)acquiring corntrmti�aW iremllirig bwldirig sxmiry syste,m',imlWing secmitysystemmcbrology
egwprtem aW mflware,kr maticipal buildvga;(h)cvmtructlng recontrmNng rerovativg Inmllivg aW egWppivg tmWGpal parka;(1)rerovarion m aW egWppivgedetlog mW cipal veMcle rrelmemroe facility;(j)acgWeiNon aW inmllellono[mcYmology egWpmem,irclvding redlo egWpmeo4 compwer egWptrem ard software,
for various trunicipal departmrns;(k)contracting aW ingmoving streets,imludingtradc eigrelimfiov landscaping drairege,sidewalks,ofiliry lim relocation aW 0m acgasidonoflaW aW righs-of-waytlmrefor;(1)acguisifion ofegaptrcN Rx,aW mgaring,comtrxmfing,inmllingaW equipping additions,exceniom,
n aW itrprovemems m,tlm Ciys draimge aW swrmuwer systens;aW(m)mgnisirion of vehicles and egwp—for,aW acquiring,contracting-dolling aid equipping additiore,excemion,remvariom aW improvemems m,the Ciys solid waste disposal system,aW also for Nm purpose ofpaying all ore portion of
the Ciyscontractwl obligation forprof sioml services,imlWingengicreerq—hitecrs,etrormys,map tinkers,auditors,aW fimmiW advisors,incomrcrion with said propt%dnd the Carfificmes(sae TlanofFi.ing").
Utdty6yvlem Revence $ M,—,000 $ 25,720,000 $ 28,M1,9M December 1,MM No $ 31,395,000 $ 2LI63J. $ 10,23C235 Nol Rvled A+ A
Nate,Taxa6k Sere.
202d
The Obligation are being iasmd[r ibe purpose ofpro ,,,,Imula fur(i)the Rny Robers Treatment Plant expanionaW otter eynmm Iermns aM(it)to VeytYe toss ofiesuance,f tfi,Obligation.
Dtdty6yvlem Revence $ 10,135,000 $ WJ35,OW.W $ 16j81,853.110 December 1,20. No $ 10,066,702' $ 4,639,680 $ 5,437,022' Nol Rvled Nol Rvled Not—d
Boma,series 2o2q
'f$YDB S�Program
TM Obligation are being iasmd For the pupose ofpro ,,t,—(i)macguire,cono-m4 aW equip exmnion,rerov —and irtQtrovetreNsmtM Issuer's waterworks ayntmn,irolWing We--ionaW expanionofNe lake Ray Roberta TI—it Plain aW(it)m pay We toss ofissmnce of Nm Obligaton.
Genervl Obligation $ 7"2U,000 $ 7"20,OW $ 112,842,344 Fe 1,15,2045 Yes $ d3,604,265 $ 43,733 $ 43,560,532 Nol—d AA+ AA+
Refundng and
InWrovement ROWS,
$endzo 5
Proceeds aftk BOWe are expected abe need frc(i)vmion atrmt in�rovenmvs,(it)dmimgeeW flood control irrq,rovmans;(iii)parkeyamm improvettens;(iv)fire pdIdw safety i ilitiea;(v)re ,tt,the ablipfiam demribed in SchedWe I�chdde ofRddided Obliet.(the" Ridded Obligti—)far debt eervice savingg,
and(vi)paying th e=assmiated widt d issuameoftlid Bolls.(stt"Plan ofFidd.i.e).
Carl ti-of $ 232,.5,000 $ 232,645,OW $ 367,826,695 .—,15,2055 Yea $ 245,136,610 $ 525,488 $ 244,601,122 Nol Rvled AA+ AA+
Obligvlbm Sedea 2025
Proceeds from the sale oftle Certficates will be used 6r tle purchase,corutrmtion and acgwsiriov ofcermiv real and persprel property,b win(a)azquisirionofvakclas mN egmprrem 6r the fire,police,building irupemiore,wrmwuty ivgtroverrwt services,aNmal services,strems and track control,faciliries neregamem,airport,
mclmology services,Reel treregarrem,wareMne muregetrem,aW parka aW mcrearion departrrema;(b)rerovatlon m,aW egWpping o[edeNrig tin Acipal bWldioge,Including the acgWeitlov all Inmllatiov o[replacemem beatirg,venting all air coMitioNog egWpmeN,rooOvgaM Doorlvg;(c)acquiring,con6'uming ell ingllivg
bWldivg scemiry syamma,imlWivg securiryaystemcechmlogy egWPveN aW mftwarq for tmmicipal bW ldines;(d)contrxrting,recontrmNtg,remvaNvg in Wlivg and equipping tvwciPd Parks;(e)acgWsifiovaW inmllatiw ofmchmlogy equiPmcnt,inclWingrWie egwpvmN,compmer egWPtreN and eoflware,for various vvmiciPW
deparmems;(1)commrdug and impioviug strttts,imluding trade sigielimnoq landscaping,diuimge,sidewalks,utility IWe relocation aW the acguisiriovoflaW aW rights-of--way derefor;(g)mgnisinon ofeguiptvem foi,eW acquiring,con0xmdng,hsmlliryoaW equipping addition,excemion,ierovafiom eW itvpiovetmms m,th
Ciys dcaimge and shim uwu syamra;@)acquisifim ofvehiales nod yapment for,and enquiring,nontrvctlng,Wslallitg and egNPPWg addifiom,excemiom,remvariom aW improvermms m,tle Ciys solid wasce disposal systm(i)remvafiom m existing public safrry 6eility for the police delwrmxnk G)mgaisifionofegnipvem
for,aid acgwnitg,comtrmtiitg,inxmllingmN equipping eddiriom,aarrsioirc,remvariom and itryroveirems ro,tlx Ciysw iwor4s all wastewacec system;aid(k)azquisinovofequipttent for,eWacquintg,conctructitg,irsmlling ecd equippingaddiriom,extemions,remvatiom allitigirovemeins W,tlo-City,elecaic light aid
power eyamm;and also fur the pupose ofpaytvg all or a ponlov o[Ihe CI ya commcNal obllgatlon fvr profesaiorel services,laludivg evgimers,arGtlmcs,sUvrmyn,map®kms,auditors,®d fivavciN advlmm,ivcomecriovwid��id pr Jots aW fvr paying Nm cons associated wIW the iesmren o[Nm Certfcams(see"Plano[
PivamiW').
TOTAL $2A24,160,000 $ 1,864,700.000 $ 2,662,46 J. $ 2,440,849,634 $ 1.879.054.355 $ -Ji5.-
28
Glossary of Terms
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.
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).
29
Glossary of Terms-continued
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.
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