HomeMy WebLinkAbout2026-020 Annual Debt Summary 2025Date: 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.
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@cityofdenton.com
1
City 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.cityofdenton.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.
2
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
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
Glossary of Terms………………………………………………………………………….……..…29
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. 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+2 A4
1S&P GO/CO, July 2025.
2S&P Utility System Revenue Bonds, November 2024.
3Fitch 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.
4
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 $2,662,462,163, as shown on page 6
of this report.
5
CITY DEBT SECTION
6
Principal Interest Total
GOs 486 162 648
COs 1,049 516 1,565
Revenue Bonds 330 119 449
Total 1,865$ 797$ 2,662$
Total Outstanding Debt (in millions) as of September 30, 2025
Fiscal Year Ending September 30, 2025
FY End 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$ 1,314,967,281$ 449,506,276$ 2,662,462,163$
General Obligation Bonds (GOs) Certificates of Obligation (COs)
City of Denton
Total Annual Debt Service (Principal & Interest) - All Debt
7
8
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$
City of Denton
Total Annual Debt Service (Principal & Interest) - Tax Supported Debt
Fiscal Year Ending September 30, 2025
9
10
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$
City of Denton
Total Annual Debt Service (Principal & Interest) - Revenue Supported Debt
Fiscal Year Ending September 30, 2025
11
12
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$
Fiscal Year Ending September 30, 2025
Total Annual Debt Service (Principal & Interest)
City of Denton
General Government
13
14
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$
City of Denton
Total Annual Debt Service (Principal & Interest) - Electric
Fiscal Year Ending September 30, 2025
15
16
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$
City of Denton
Total Annual Debt Service (Principal & Interest) - Water
Fiscal Year Ending September 30, 2025
17
18
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$
City of Denton
Total Annual Debt Service (Principal & Interest) - Wastewater
Fiscal Year Ending September 30, 2025
19
20
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$
City of Denton
Total Annual Debt Service (Principal & Interest) - Solid Waste
Fiscal Year Ending September 30, 2025
21
22
FY End
General
Obligation
Bonds
Certificates of
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$
City of Denton
Total Annual Debt Service (Principal & Interest) - Airport and Internal Service Funds
Fiscal Year Ending September 30, 2025
Internal Service Funds: Technology, Fleet, Customer Service
23
24
HOUSE BILL 1378 SECTION
25
TOTAL TAX-SUPPORTED AND REVENUE DEBT HB 1378 Calculation (1)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 Interest Required To Pay All Outstanding Debt Obligations Secured By
Ad Valorem Taxation On Time And In 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
City of Denton
Summary of Debt Obligations
Fiscal Year Ending September 30, 2025
(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, 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 $300 million Utility ECP Program under existing utility debt authorization.
26
Moody's S&P Fitch
Certificates of
Obligation, Series 2014
89,180,000$ 18,105,000$ 28,274,325$ February 15, 2044 Yes 93,781,795$ 93,781,795$ -$ Not Rated AA+ AA+
General Obligation
Refunding and
Improvement Bonds,
Series 2014
7,330,000$ 2,130,000$ 2,469,700$ February 15, 2034 Yes 4,063,543$ 4,063,543$ -$ Not Rated AA+ AA+
Certificates of
Obligation, Series 2015
93,015,000$ 31,900,000$ 51,460,000$ February 15, 2045 Yes 97,983,335$ 97,983,335$ -$ Not Rated AA+ AA+
General Obligation
Refunding and
Improvement Bonds,
Series 2015
37,640,000$ 6,395,000$ 6,633,631$ February 15, 2028 Yes 23,013,425$ 23,013,425$ -$ Not Rated AA+ AA+
General Obligation
Refunding Bonds, Series
2015
33,945,000$ 325,000$ 331,500$ February 15, 2026 Yes 37,992,142$ 37,992,142$ -$ Not Rated AA+ AA+
Certificates of
Obligation, Series 2016
83,305,000$ 57,170,000$ 78,994,972$ February 15, 2046 Yes 92,340,554$ 92,340,554$ -$ Not Rated AA+ AA+
General Obligation
Refunding and
Improvement Bonds,
Series 2016
28,930,000$ 14,380,000$ 16,435,950$ February 15, 2036 Yes 16,915,297$ 16,915,297$ -$ Not Rated AA+ AA+
General Obligation
Refunding Bonds, Series
2016
38,425,000$ 14,365,000$ 15,497,900$ February 15, 2030 Yes 175,657$ 175,657$ -$ Not Rated AA+ AA+
Utility System Revenue
Bonds, Series 2017
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
Certificates of
Obligation, Series 2017
90,800,000$ 59,580,000$ 87,392,750$ February 15, 2047 Yes 98,365,003$ 98,365,003$ -$ Not Rated AA+ AA+
General Obligation
Refunding and
Improvement Bonds,
Series 2017
29,105,000$ 11,360,000$ 13,713,978$ February 15, 2037 Yes 17,294,871$ 16,832,944$ 461,927$ Not Rated AA+ AA+
General Obligation
Bonds, Series 2018
19,235,000$ 14,315,000$ 17,816,963$ February 15, 2038 Yes 19,871,128$ 19,871,128$ -$ Not Rated AA+ AA+
Certificates of
Obligation, Series 2018
9,555,000$ 4,270,000$ 5,197,788$ February 15, 2038 Yes 10,020,370$ 10,020,370$ -$ Not Rated AA+ AA+
Certificates of
Obligation, Series 2018A
29,545,000$ 20,075,000$ 25,159,553$ February 15, 2038 Yes 31,802,097$ 31,802,097$ -$ Not Rated AA+ AA+
General Obligation
Refunding &
Improvement Bonds,
Series 2019
44,340,000$ 14,045,000$ 17,359,775$ February 15, 2039 Yes 48,176,707$ 48,156,844$ 19,863$ Not Rated AA+ AA+
Certificates of
Obligation, Series 2019
28,755,000$ 19,280,000$ 24,866,550$ February 15, 2049 Yes 30,516,239$ 30,516,239$ -$ Not Rated AA+ AA+
City of Denton
Individual Debt Obligations
Fiscal Year Ending September 30, 2025
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.
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.
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.
Total Proceeds Received
Outstanding Debt
Obligations Final Maturity Date
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.
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 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.
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").
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.
Proceeds of the Bonds are expected to be used (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.
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.
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.
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.
Principal Outstanding
Current Credit Rating
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.
Proceeds Spent Proceeds UnspentPrincipal Issued
Secured by Ad
Valorem Taxes
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.
Combined Principal & Interest
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.
Proceeds from the sale of the Series 2016 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 2016 Bonds; and (c) pay the costs of issuance in connection with the
issuance of the Series 2016 Bonds.
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.
27
Moody's S&P Fitch
General Obligation
Refunding &
Improvement Bonds,
Series 2020
62,080,000$ 36,890,000$ 42,685,025$ February 15, 2040 Yes 70,866,956$ 61,408,970$ 9,457,986$ Not Rated AA+ AA+
Certificate of
Obligations, Series 2020
58,080,000$ 47,135,000$ 58,574,625$ February 15, 2050 Yes 64,267,139$ 64,267,139$ -$ Not Rated AA+ AA+
General Obligation
Refunding Bonds, Series
2020A
14,150,000$ 9,025,000$ 10,237,700$ February 15, 2031 Yes 17,031,195$ 17,031,195$ -$ Not Rated AA+ AA+
Certificates of
Obligation, Series 2021
97,035,000$ 82,965,000$ 107,239,897$ February 15, 2051 Yes 104,246,453$ 104,246,453$ -$ Not Rated AA+ AA+
General Obligation
Bonds, Series 2021
54,710,000$ 46,985,000$ 57,305,081$ February 15, 2041 Yes 59,608,180$ 59,608,180$ -$ Not Rated AA+ AA+
Utility System Revenue
Refunding Bonds,
Taxable Series 2021
141,990,000$ 131,050,000$ 187,795,347$ December 1, 2050 No 141,990,000$ 141,990,000$ -$ Not Rated A+ A
Certificates of
Obligation, Series 2022
112,155,000$ 101,100,000$ 152,861,219$ February 15, 2052 Yes 119,729,679$ 119,274,415$ 455,264$ Not Rated AA+ AA+
General Obligation
Refunding &
Improvement Bonds,
Series 2022
71,285,000$ 58,880,000$ 82,568,675$ February 15, 2042 Yes 76,874,578$ 76,874,578$ -$ Not Rated AA+ AA+
Certificates of
Obligation, Series 2023
149,140,000$ 139,925,000$ 218,058,025$ February 15, 2053 Yes 158,357,363$ 146,663,849$ 11,693,514$ Not Rated AA+ AA+
General Obligation
Refunding and
Improvement Bonds,
Series 2023
72,625,000$ 62,800,000$ 83,930,225$ February 15, 2043 Yes 80,345,643$ 68,979,097$ 11,366,547$ Not Rated AA+ AA+
General Obligation
Refunding and
Improvement Bonds,
Series 2024
$ 117,630,000 $ 115,460,000 $ 168,211,225 February 15, 2044 Yes $ 88,473,827 11,015,128$ 77,458,700$ Not Rated AA+ AA+
PURPOSE . . . Proceeds of the Bonds are expected to be used for (i) various street improvements, (ii) drainage and flood control improvements; (iii) park system improvements; (iv) fire and animal control public safety facilities; (v) a new South Branch library; (vi)
refunding the obligations described in Schedule I – Schedule of Refunded Obligations (the “Refunded Obligations”) for debt service savings, and (vii) paying the costs associated with the issuance of the Bonds (see "Plan of Financing").
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”).
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").
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").
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").
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").
City of Denton
Individual Debt Obligations
Fiscal Year Ending September 30, 2025
Outstanding Debt
Obligations Principal Issued Principal Outstanding
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").
Proceeds Unspent
Current Credit Rating
Combined Principal & Interest Final Maturity Date
Secured by Ad
Valorem Taxes Total Proceeds Received Proceeds Spent
Proceeds from the sale of the Certificates will be used for the purchase, construction and acquisition of certain real and personal property, to wit: (a) acquiring, constructing, installing and equipping fire stations; (b) acquisition of vehicles and equipment for the fire, police, building inspections, community improvement services,
animal services, streets and traffic control, facilities management, airport, technology services, fleet management, warehouse management, and parks and recreation departments; (c) renovations to, and equipping of, existing municipal buildings, including the acquisition and installation of replacement heating, venting and air
conditioning equipment, roofing and flooring; (d) acquiring, constructing, installing and equipping police stations; (e) acquiring, constructing and installing building security systems, including security system technology equipment and software, for municipal buildings; (f) constructing, reconstructing, renovating, installing and
equipping municipal parks; (g) renovations to, expansion of, and equipping existing municipal vehicle maintenance facility; (h) acquisition and installation of technology equipment, including radio equipment, computer equipment and software, for various municipal departments; (i) constructing and improving streets, including traffic
signalization, landscaping, drainage, utility line relocations and the acquisition of land and rights-of-way therefor; (j) constructing, reconstructing and renovating runways and taxiways at the municipal airport; (k) 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; (l) acquisition of equipment for, and acquiring, constructing, installing and equipping additions, extensions, renovations and improvements to, the City's waterworks and wastewater system; and (m) 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 the Certificates (see "Plan of Financing")
Proceeds of the Bonds are expected to be used for (i) various street improvements, (ii) refunding the obligations 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").
Proceeds from the sale of the Certificates will be used for the purchase, construction and acquisition of certain real and personal property, to wit: (i) acquiring, constructing, installing and equipping fire stations; (ii) acquisition of vehicles and equipment for the fire, police, building inspections, community improvement services,
animal services, streets and traffic control, facilities management, airport, technology services, fleet management, warehouse management and parks and recreation departments; (iii) renovations to, and equipping of, existing municipal buildings, including the acquisition and installation of replacement heating, venting and air
conditioning equipment, roofing and flooring; (iv) acquisition and installation of electric generator equipment for municipal buildings; (v) acquiring, constructing and installing door security systems, including security system technology equipment and software, for municipal buildings; (vi) constructing, reconstructing, renovating,
installing and equipping municipal parks; (vii) renovations to, expansion of, and equipping existing municipal vehicle maintenance facility; and (viii) 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; (ix) acquisition of equipment for, and acquiring, constructing, installing and equipping additions, extensions, renovations and improvements to, the City's waterworks and wastewater system; and (x) 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 the Certificates (see "Plan of
Financing").
Proceeds of the Bonds are expected to be used for (i) various street improvements, (ii) public safety facilities, (iii) the acquisition of park land, (iv) refunding the obligations described in Schedule I – Schedule of Refunded Obligations (the "Refunded Obligations") for debt service savings , and (v) to pay the costs associated with the
issuance of the Bonds (see "Plan of Financing").
28
Moody's S&P Fitch
Certificates of
Obligation, Series 2024
$ 242,790,000 $ 234,805,000 $ 359,009,816 February 15, 2054 Yes $ 260,389,585 113,762,579$ 146,627,006$ Not Rated AA+ AA+
Utility System Revenue
Note, Taxable Series
2024
$ 31,395,000 25,720,000$ 28,519,951$ December 1, 2028 No $ 31,395,000 21,163,765$ 10,231,235$ Not Rated A+ A
Utility System Revenue
Bonds, Series 2024,
TWDB SWIFT Program
$ 10,135,000 $ 10,135,000.00 $ 16,281,853.00 December 1, 2054 No $ 10,066,702 4,629,680$ 5,437,022$ Not Rated Not Rated Not Rated
General Obligation
Refunding and
Improvement Bonds,
Series 2025
$ 78,320,000 $ 78,320,000 112,842,344$ February 15, 2045 Yes $ 43,604,265 43,733$ 43,560,532$ Not Rated AA+ AA+
Certificates of
Obligation, Series 2025
$ 232,645,000 $ 232,645,000 367,826,695$ February 15, 2055 Yes $ 245,126,610 525,488$ 244,601,122$ Not Rated AA+ AA+
TOTAL 2,424,160,000$ 1,864,700,000$ 2,662,462,163$ 2,440,849,634$ 1,879,054,355$ 561,795,279$
The Obligations are being issued for the purpose of providing funds (i) to acquire, construct, and equip extensions, renovations and improvements to the Issuer’s waterworks system, including the renovation and expansion of the Lake Ray Roberts Treatment Plant and (ii) to pay the costs of issuance of the Obligations.
Proceeds of the Bonds are expected to be used for (i) various street improvements, (ii) drainage and flood control improvements; (iii) park system improvements; (iv) fire public safety facilities; (v) refunding the obligations described in Schedule I –Schedule of Refunded Obligations (the “Refunded Obligations”) for debt service savings,
and (vi) paying the costs associated with the issuance of the Bonds. (see "Plan of Financing").
Proceeds from the sale of the Certificates will be used for the purchase, construction and acquisition of certain real and personal property, to wit: (a) acquisition of vehicles and equipment for the fire, police, building inspections, community improvement services, animal services, streets and traffic control, facilities management, airport,
technology services, fleet management, warehouse management, and parks and recreation departments; (b) renovations to, and equi pping of, existing municipal buildings, including the acquisition and installation of replacement heating, venting and air conditioning equipment, roofing and flooring; (c) acquiring, constructing and installing
building security systems, including security system technology equipment and software, for municipal buildings; (d) constructing, reconstructing, renovating, installing and equipping municipal parks; (e) acquisition and installation of technology equipment, including radio equipment, computer equipment and software, for various municipal
departments; (f) constructing and improving streets, including traffic signalization, landscaping, drainage, sidewalks, utility line relocations and the acquisition of land and rights-of-way therefor; (g) acquisition of equipment for, and acquiring, constructing, installing and equipping additions, extensions, renovations and improvements to, the
City's drainage and storm sewer systems; (h) 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; (i) renovations to existing public safety facility for the police department; (j) acquisition of equipment
for, and acquiring, constructing, installing and equipping additions, extensions, renovations and improvements to, the City's waterworks and wastewater system; and (k) 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 for paying the costs associated with the issuance of the Certificates (see "Plan of
Financing").
PURPOSE . . . Proceeds from the sale of the Certificates will be used for the purchase, construction and acquisition of certain real and personal property, to wit: (a) acquisition of equipment for, and acquiring, constructing, installing and equipping additions, extensions, renovations and improvements to, the City's waterworks and
wastewater system; (b) acquisition of equipment for, and acquiring, constructing, installing and equipping additions, extensions, renovations and improvements to, the City's electric light and power system; (c) renovating, constructing, expanding, improving and equipping existing municipal service center building; (d) acquisition of
vehicles and equipment for the fire, police, building inspections, community improvement services, animal services, streets and traffic control, facilities management, airport, technology services, fleet management, warehouse management, and parks and recreation departments; (e) renovations to, and equipping of, existing municipal
buildings, including the acquisition and installation of replacement heating, venting and air conditioning equipment, roofing and flooring; (f) acquiring, expanding, constructing, renovating, improving and equipping parking facilities; (g) acquiring, constructing and installing building security systems, including security system technology
equipment and software, for municipal buildings; (h) constructing, reconstructing, renovating, installing and equipping municipal parks; (i) renovations to and equipping existing municipal vehicle maintenance facility; (j) acquisition and installation of technology equipment, including radio equipment, computer equipment and software,
for various municipal departments; (k) constructing and improving streets, including traffic signalization, landscaping, drainage, sidewalks, utility line relocations and the acquisition of land and rights-of-way therefor; (l) acquisition of equipment for, and acquiring, constructing, installing and equipping additions, extensions,
renovations and improvements to, the City's drainage and storm sewer systems; and (m) 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 , 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").
The Obligations are being issued for the purpose of providing funds for (i) the Ray Roberts Treatment Plant expansion and other system improvements and (ii) to pay the costs of issuance of the Obligations.
Outstanding Debt
Obligations Principal Issued Principal Outstanding Combined Principal & Interest Final Maturity Date
Secured by Ad
Valorem Taxes Total Proceeds Received Proceeds Spent Proceeds Unspent
Current Credit Rating
City of Denton
Individual Debt Obligations
Fiscal Year Ending September 30, 2025
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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).
30
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.