2025-034 Annual Debt Summary 2024 Date: February 21,2025 Report No. 2025-034
INFORMAL STAFF REPORT
TO MAYOR AND CITY COUNCIL
SUBJECT:
City's Annual Debt Summary Report with principal and interest outstanding as of September 30,
2024.
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.
Mood 's' Standard& Poor's Fitch
General Obligation Debt Not Rated AA+2 AA+°
Revenue Bond Debt Not Rated A+3 AS
'Moody's does not currently rate any of the City's outstanding debt.
2S&P GO/CO,May 2024.
'S&P Utility System Revenue Bonds,November 2024.
°Fitch GO/CO,June 2024.
'Fitch Utility System Revenue Bonds,May 2024.
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, 2024
STAFF CONTACT:
Randee Klingele, Treasury Manager
(940) 349-8206
Randee.klingelekcityofdenton.com
City of Denton
Debt Summary Report
Fiscal Year Ending September 30, 2024
Contact:
City of Denton Finance Department
Attn: Vis Bouaphanthavong—Assistant Director of Finance
215 E. McKinney St.
Denton, Texas 76201
Email: Vis.Bouaphanthavong@cityofdenton.com
Phone: 940-349-7743
Fax: 940-349-7206
Website: www.ciiyofdenton.com
Published: February 21,2025
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................................................................................................30
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.
Mood 's' Standard&Poor's Fitch
General Obligation Debt Not Rated AA+2 AA+4
Revenue Bond Debt Not Rated A+3 A
'Moody's does not currently rate any of the City's outstanding debt.
ZS&P GO/CO,May 2024.
'S&P Utility System Revenue Bonds,November 2024.
417itch GO/CO,June 2024.
517itch Utility System Revenue Bonds,May 2024.
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
REVENUE BOND DEBT:
The second category of debt is Revenue Bond Debt. This debt is secured by only a pledge of the operating
revenues of the City's Electric, Water and Wastewater Funds (collectively known as the "Utility System")
and not the full faith and credit of the City. Under the City's debt policy, revenue bonds will strive to have a
final maturity of thirty (30) years or less. As of September 30, 2024, the City's outstanding revenue bond
debt is the Utility System Revenue Bonds, Series 2017,2021, and 2024.
OUTSTANDING DEBT:
The City's total outstanding principal and interest as of September 30, 2024, is $2,375,945,908, as shown on
page 6 of this report.
4
CITY DEBT SECTION
5
Total Outstanding Debt(in millions) as of September 30, 2024
Principal Interest Total
GOs 452 149 602
COs 883 425 1,308
Revenue Bonds 339 127 466
Total $ 1,675 $ 701 $ 2,376
City of Denton
Total Annual Debt Service(Principal&Interest)-All Debt
Fiscal Year Ending September 30,2024
FY End General Obligation Bonds(GOs) Certificates of Obligation(COs) Revenue
9-30 Tax Supported Revenue Supported Tax Supported Revenue Supported Bonds Total
2025 $ 30,255,699 $ 24,290,351 $ 19,722,446 $ 54,101,916 $ 32,427,444 $ 160,797,856
2026 29,628,981 17,174,700 18,931,613 53,917,550 32,424,471 $ 152,077,315
2027 29,306,706 18,849,125 17,725,763 51,075,975 32,431,414 $ 149,388,983
2028 27,822,525 17,471,475 16,417,512 50,618,725 32,430,178 $ 144,760,416
2029 26,662,803 16,345,450 14,683,987 50,149,900 32,428,300 $ 140,270,441
2030 26,671,469 16,466,075 13,100,987 49,506,150 25,298,164 $ 131,042,846
2031 26,350,891 11,060,375 13,091,063 49,488,881 25,298,194 $ 125,289,403
2032 26,184,769 9,753,750 12,947,178 49,520,966 25,299,853 $ 123,706,515
2033 25,956,484 7,188,625 12,623,200 49,533,613 25,295,276 $ 120,597,198
2034 25,232,972 3,924,000 12,000,169 49,523,313 25,301,145 $ 115,981,599
2035 24,598,656 2,497,375 10,920,638 48,002,591 25,296,215 $ 111,315,475
2036 23,018,234 2,520,000 10,694,456 47,075,138 25,299,258 $ 108,607,086
2037 21,935,103 2,541,250 10,454,394 45,897,813 25,297,732 $ 106,126,291
2038 20,806,516 2,565,750 9,870,794 45,830,200 7,223,309 $ 86,296,568
2039 19,430,063 2,588,125 8,073,809 45,470,919 7,224,204 $ 82,787,120
2040 18,190,644 - 7,808,925 47,417,853 7,225,700 $ 80,643,122
2041 16,585,038 6,426,950 46,830,519 7,222,724 $ 77,065,230
2042 12,994,200 5,346,700 44,336,066 7,225,125 $ 69,902,091
2043 8,744,200 5,184,800 38,867,144 7,223,201 $ 60,019,345
2044 6,313,800 3,723,000 34,984,359 7,221,587 $ 52,242,746
2045 - - 23,014,547 7,224,314 $ 30,238,861
2046 19,146,341 7,221,224 $ 26,367,564
2047 16,144,741 7,222,160 $ 23,366,901
2048 12,605,291 7,221,888 $ 19,827,178
2049 12,608,647 7,225,170 $ 19,833,816
2050 12,222,163 7,221,849 $ 19,444,012
2051 11,068,116 7,221,769 $ 18,289,885
2052 9,208,950 - $ 9,208,950
2053 - 7,236,128 $ 7,236,128
2054 - - 3,214,969 $ 3,214,969
$ 446,689,752 $ 155,236,426 $ 229,7489384 $ 1,078,619,479 $ 4659651,867 $ 2,375,945,908
6
Total Annual Debt Service($)
$180.0
0
$160.0
$140.0
$120.0
$100.0
$80.0
$60.0
$40.0
$20.0
$0.0
I I I I 1 ' ■
�o r m a o ry �n < �o r oo a o ry e r oo rn o ry on c
S o 0 0 0 0 0 0 0 0 0 0 0 0 a a o a a a a o 0 0 o Ys
N N N N N N N N N N ry N N N N N N N N N N N N - N N N N N N
■GO-Tax Supported ■GO-Revenue Supported ■CO-Tax Supported ■CO-Revenue Supported ■Revenue Bonds
Total Annual Debt Service(%)
CO-Talc Supported,
GO-Revenue 9.67%
Supported,6.53% CO-Revenue
Supported,45.40%
GO-Tax Supported,
18.80%
Revenue Bonds,
19.60%
7
City of Denton
Total Annual Debt Service(Principal&Interest)-Tax Supported Debt
Fiscal Year Ending September 30,2024
FY End General Obligation Bonds Certificates of Obligation
9-30 (GOs) (COS) Total
2025 $ 30,255,699 $ 19,722,446 $ 49,978,146
2026 29,628,981 18,931,613 48,560,594
2027 29,306,706 17,725,763 47,032,469
2028 27,822,525 16,417,512 44,240,037
2029 26,662,803 14,683,987 41,346,791
2030 26,671,469 13,100,987 39,772,456
2031 26,350,891 13,091,063 39,441,953
2032 26,184,769 12,947,178 39,131,947
2033 25,956,484 12,623,200 38,579,684
2034 25,232,972 12,000,169 37,233,141
2035 24,598,656 10,920,638 35,519,294
2036 23,018,234 10,694,456 33,712,691
2037 21,935,103 10,454,394 32,389,497
2038 20,806,516 9,870,794 30,677,309
2039 19,430,063 8,073,809 27,503,872
2040 18,190,644 7,808,925 25,999,569
2041 16,585,038 6,426,950 23,011,988
2042 12,994,200 5,346,700 18,340,900
2043 8,744,200 5,184,800 13,929,000
2044 6,313,800 3,723,000 10,036,800
$ 446,689,752 $ 229,748,384 $ 676,438,136
8
Tax Supported Debt($) \
a $50.0
0
$45.0
$40.0
$35.0
$30.0
$25.0
$20.0
$15.0
$10.0
$5.0
$0.0
to �.O [-- 00 0*1 O N M 'IT [l- 00 01� O N M
N N N N N M M M M M M M M M M
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
■CO ■GO
i
Tax Supported Debt (%)
CO
33.96%
GO
66.04%
9
City of Denton
Total Annual Debt Service(Principal&Interest)-Revenue Supported Debt
Fiscal Year Ending September 30,2024
FY End General Obligation Bonds Certificates of Obligation
9-30 GOs Cos Revenue Bonds Total
2025 $ 24,290,351 $ 54,101,916 $ 32,427,444 $ 110,819,711
2026 17,174,700 53,917,550 32,424,471 103,516,721
2027 18,849,125 51,075,975 32,431,414 102,356,514
2028 17,471,475 50,618,725 32,430,178 100,520,378
2029 16,345,450 50,149,900 32,428,300 98,923,650
2030 16,466,075 49,506,150 25,298,164 91,270,389
2031 11,060,375 49,488,881 25,298,194 85,847,450
2032 9,753,750 49,520,966 25,299,853 84,574,569
2033 7,188,625 49,533,613 25,295,276 82,017,513
2034 3,924,000 49,523,313 25,301,145 78,748,458
2035 2,497,375 48,002,591 25,296,215 75,796,181
2036 2,520,000 47,075,138 25,299,258 74,894,396
2037 2,541,250 45,897,813 25,297,732 73,736,794
2038 2,565,750 45,830,200 7,223,309 55,619,259
2039 2,588,125 45,470,919 7,224,204 55,283,248
2040 - 47,417,853 7,225,700 54,643,553
2041 46,830,519 7,222,724 54,053,242
2042 44,336,066 7,225,125 51,561,191
2043 38,867,144 7,223,201 46,090,345
2044 34,984,359 7,221,587 42,205,946
2045 23,014,547 7,224,314 30,238,861
2046 19,146,341 7,221,224 26,367,564
2047 16,144,741 7,222,160 23,366,901
2048 12,605,291 7,221,888 19,827,178
2049 12,608,647 7,225,170 19,833,816
2050 12,222,163 7,221,849 19,444,012
2051 11,068,116 7,221,769 18,289,885
2052 9,208,950 - 9,208,950
2053 7,236,128 7,236,128
2054 - 3,214,969 - 3,214,969
$ 155,236,426 $ 1,078,619,479 $ 465,651,867 $ 1,699,507,772
10
Revenue Supported($)
$120.0
0
$100.0
$80.0
$60.0
$40.0
$20.0
$0.0
cq 00 C� O N M m h m m m m O � N m l� 00 C1 O N M 7
N N N N N M M M M M M M M M M V = = = = = Vl CD � = CD
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 Bonds
Revenue Supported (%)
CO
GO 63.47%
9.13%
Revenue Bonds
27.40%
11
City of Denton
Total Annual Debt Service (Principal& Interest)
General Government
Fiscal Year Ending September 30, 2024
FY End
9-30 General Water Park Total
2025 $ 49,807,171 $ 170,974 $ 49,978,146
2026 $ 48,390,167 170,426 48,560,594
2027 $ 46,862,029 170,440 47,032,469
2028 $ 44,069,308 170,730 44,240,037
2029 $ 41,175,971 170,820 41,346,791
2030 $ 39,601,799 170,657 39,772,456
2031 $ 39,271,595 170,359 39,441,953
2032 $ 38,961,292 170,655 39,131,947
2033 $ 38,408,893 170,791 38,579,684
2034 $ 37,062,275 170,866 37,233,141
2035 $ 35,348,517 170,776 35,519,294
2036 $ 33,573,669 139,022 33,712,691
2037 $ 32,389,497 - 32,389,497
2038 $ 30,677,309 - 30,677,309
2039 $ 27,503,872 - 27,503,872
2040 $ 25,999,569 - 25,999,569
2041 $ 23,011,988 - 23,011,988
2042 $ 18,340,900 - 18,340,900
2043 $ 13,929,000 - 13,929,000
2044 $ 10,036,800 - 10,036,800
$ 674,421,621 $ 2,016,516 $ 676,438,136
12
General Government ($)
$50.0
il $45.0
$40.0
$35.0
$30.0
$25.0
$20.0 I
$15.0
$10.0
$5.0
$0.0
kn 110 l-- 00 ON O N M 'IT W) �O l- 00 ON O Zt
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
■General ■Water Park
General General Government (%)
99.70%
Water Park
0.30%
13
City of Denton
Total Annual Debt Service(Principal&Interest)-Electric
Fiscal Year Ending September 30,2024
FY End General Obligation Bonds Certificates of Obligation Revenue
9-30 GOs Cos Bonds Total
2025 $ 15,596,172 $ 25,768,535 $ 32,427,444 $ 73,792,151
2026 10,434,375 25,759,681 32,424,471 68,618,527
2027 11,357,150 24,250,856 32,431,414 68,039,420
2028 10,761,625 24,241,981 32,430,178 67,433,784
2029 9,991,000 24,164,981 32,428,300 66,584,281
2030 10,073,250 24,154,606 25,298,164 59,526,021
2031 7,886,875 24,147,819 25,298,194 57,332,887
2032 6,732,625 24,159,956 25,299,853 56,192,434
2033 5,145,250 24,158,406 25,295,276 54,598,932
2034 2,483,875 24,158,031 25,301,145 51,943,052
2035 2,497,375 23,629,306 25,296,215 51,422,896
2036 2,520,000 23,630,569 25,299,258 51,449,827
2037 2,541,250 23,631,744 25,297,732 51,470,726
2038 2,565,750 23,630,006 7,223,309 33,419,065
2039 2,588,125 23,622,144 7,224,204 33,434,473
2040 - 26,388,800 7,225,700 33,614,500
2041 - 26,393,075 7,222,724 33,615,799
2042 - 26,391,366 7,225,125 33,616,491
2043 - 26,381,544 7,223,201 33,604,745
2044 - 26,380,659 7,221,587 33,602,246
2045 - 23,014,547 7,224,314 30,238,861
2046 - 19,146,341 7,221,224 26,367,564
2047 - 16,144,741 7,222,160 23,366,901
2048 - 12,605,291 7,221,888 19,827,178
2049 - 12,608,647 7,225,170 19,833,816
2050 - 12,222,163 7,221,849 19,444,012
2051 - 11,068,116 7,221,769 18,289,885
2052 - 9,208,950 - 9,208,950
2053 - 7,236,128 - 7,236,128
2054 - 3,214,969 - 3,214,969
$ 103,174,697 $ 621,513,958 $ 465,651,867 $ 1,190,340,522
14
Electric($)
$80.0
0
$70.0
$60.0
$50.0
$40.0
$30.0
$20.0
$10.0
$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
■GO ■CO ■Revenue Bonds
Electric(%)
Revenue Bonds
39.12%
CO
52.21%
GO
8.67%
15
City of Denton
Total Annual Debt Service(Principal&Interest)-Water
Fiscal Year Ending September 30,2024
FY End General Obligation Bonds Certificates of Obligation Revenue
9-30 GOs Cos Bonds Total
2025 $ 6,191,756 $ 10,015,199 $ - $ 16,206,955
2026 4,311,200 10,009,831 - 14,321,031
2027 4,695,550 9,567,056 - 14,262,606
2028 4,040,125 9,557,806 - 13,597,931
2029 3,730,950 9,532,181 - 13,263,131
2030 3,755,450 9,526,006 - 13,281,456
2031 994,250 9,523,700 - 10,517,950
2032 1,014,125 9,528,219 - 10,542,344
2033 587,125 9,533,694 - 10,120,819
2034 584,250 9,529,444 - 10,113,694
2035 9,520,769 - 9,520,769
2036 9,324,769 - 9,324,769
2037 8,833,356 - 8,833,356
2038 8,829,694 - 8,829,694
2039 8,827,916 - 8,827,916
2040 8,634,769 - 8,634,769
2041 8,633,138 - 8,633,138
2042 7,494,100 - 7,494,100
2043 5,804,300 - 5,804,300
2044 4,304,400 - 4,304,400
$ 29,904,781 $ 176,530,346 $ - $ 206,435,127
16
Water($)
$18.0
0
$16.0
$14.0
$12.0
$10.0
$8.0
$6.0
$4.0
$2.0
$0.0
kn I-O l— oC C� O -- N M "t Wn IO l— oC C� O -- N M �t
N N N N N M M M M M M M M M M It
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 .
■GOs ■COs
Water(%)
GO
14.49%
CO
85.51%
17
City of Denton
Total Annual Debt Service(Principal&Interest)-Wastewater
Fiscal Year Ending September 30,2024
FY End General Obligation Bonds Certificates of Obligation Revenue
9-30 GOs Cos Bonds Total
2025 $ 1,248,566 $ 11,527,067 $ - $ 12,775,633
2026 1,249,875 11,524,569 - 12,774,444
2027 1,523,100 11,204,894 - 12,727,994
2028 1,486,750 11,214,144 - 12,700,894
2029 1,497,000 11,145,019 - 12,642,019
2030 1,503,750 11,154,044 - 12,657,794
2031 1,238,875 11,156,063 - 12,394,938
2032 1,276,750 11,161,381 - 12,438,131
2033 768,750 11,158,331 - 11,927,081
2034 420,250 11,158,956 - 11,579,206
2035 - 11,152,956 - 11,152,956
2036 - 10,678,219 - 10,678,219
2037 - 10,457,894 - 10,457,894
2038 - 10,464,219 - 10,464,219
2039 - 10,460,228 - 10,460,228
2040 - 9,823,881 - 9,823,881
2041 - 9,239,619 - 9,239,619
2042 - 8,131,300 - 8,131,300
2043 - 5,175,400 - 5,175,400
2044 - 4,003,500 - 4,003,500
$ 12,213,666 $ 201,991,683 $ - $ 214,205,349
18
Wastewater($)
M $14.0
a
0
$12.0 1p
$10.0
$8.0
$6.0
$4.0
$2.0
$0.0
V � 00 ON O - N tM "T V1 \�O r- 00 O1 O -- N M ,zt
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
■GOs ■COs
Wastewater(%)
CO
94.30%
GO
5.70%
19
City of Denton
Total Annual Debt Service(Principal&Interest)-Solid Waste
Fiscal Year Ending September 30,2024
FY End General Obligation Bonds Certificates of Obligation Revenue
9-30 GOs Cos Bonds Total
2025 $ 1,042,777 $ 4,227,095 $ - $ 5,269,872
2026 976,775 4,064,713 - 5,041,488
2027 1,042,575 3,572,563 - 4,615,138
2028 940,725 3,174,563 - 4,115,288
2029 888,375 2,908,063 - 3,796,438
2030 895,000 2,503,813 - 3,398,813
2031 696,875 2,501,969 - 3,198,844
2032 487,500 2,507,750 - 2,995,250
2033 446,000 2,504,525 - 2,950,525
2034 317,750 2,506,400 - 2,824,150
2035 - 2,508,650 - 2,508,650
2036 - 2,257,125 - 2,257,125
2037 - 1,789,025 - 1,789,025
2038 - 1,720,850 - 1,720,850
2039 - 1,715,725 - 1,715,725
2040 - 1,719,050 - 1,719,050
2041 - 1,716,225 - 1,716,225
2042 - 1,716,600 - 1,716,600
2043 - 1,215,300 - 1,215,300
2044 - 168,300 - 168,300
$ 7,734,352 $ 46,998,301 $ - $ 54,732,653
20
Solid Waste ($)
$6.0
0
$5.0
$4.0
$3.0
$2.0
$1.0
$0.0
v� �O [� 00 ON O N cn - 1-n 10 r— w O\ O N M �
N N N N N M M
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
■GOs ■COs
Solid Waste (%) GO
14.13%
CO
85.87%
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, 2024
General Certificates of
FY End Obligation Bonds Obligation Revenue
9-30 GOs Cos Bonds Total
2025 $ 211,081 $ 2,564,019 $ - $ 2,775,100
2026 202,475 2,558,756 - 2,761,231
2027 230,750 2,480,606 - 2,711,356
2028 242,250 2,430,231 - 2,672,481
2029 238,125 2,399,656 - 2,637,781
2030 238,625 2,167,681 - 2,406,306
2031 243,500 2,159,331 - 2,402,831
2032 242,750 2,163,659 - 2,406,409
2033 241,500 2,178,656 - 2,420,156
2034 117,875 2,170,481 - 2,288,356
2035 - 1,190,909 - 1,190,909
2036 - 1,184,456 - 19184,456
2037 - 1,185,794 - 1,185,794
2038 - 1,185,431 - 1,185,431
2039 - 844,906 - 844,906
2040 - 851,353 - 851,353
2041 - 848,463 - 848,463
2042 - 602,700 - 602,700
2043 - 290,600 - 290,600
2044 - 127,500 - 127,500
$ 2,208,931 $ 31,585,191 $ - $ 33,794,121
22
Airport & Internal Services Revenue ($)
$3.0
C
$2.5
r.
$2.0
$1.5
$1.0
$0.5
$0.0 '
W) `O � oo C� M "T kn C r- 00 O� O N M "T
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
■ GOs ■COs
l
Airport & Internal Services Revenue (%)
93.46%
6.54%
23
HOUSE BILL 1378 SECTION
24
City of Denton
Summary of Debt Obligations
Fiscal Year Ending September 30,2024
TOTAL TAX-SUPPORTED AND REVENUE DEBT HB 1378 Calculation 11i City Calculation(2)
Total Authorized Debt Obligations $ 1,931,725,000 $ 1,931,725,000
Total Principal Of All Outstanding Debt Obligations $ 1,674,590,000 $ 1,674,590,000
Combined Principal And Interest Required To Pay All Outstanding Debt Obligations On Time
And In Full $ 2,375,945,906 $ 2,375,945,906
TOTAL DEBT SECURED BY AD VALOREM TAXATION
Total Authorized Debt Obligations Secured By Ad Valorem Taxation $ 1,592,715,000 $ 753,945,000
Total Principal Of All Outstanding Debt Obligations Secured By Ad Valorem Taxation $ 1,335,580,000 $ 496,810,000
Combined Principal And Interest Required To Pay All Outstanding Debt Obligations Secured By
Ad Valorem Taxation On Time And In Full $ 1,910,294,041 $ 676,438,136
PER CAPITA TOTAL DEBT SECURED BY AD VALOREM TAXATION
Total Authorized Debt Obligations Secured By Ad Valorem Taxation Expressed As A Per Capita
Amount $ 10,330 $ 4,890
Total Principal Of Outstanding Debt Obligations Secured By Ad Valorem Taxation As A Per
Capita Amount $ 8,662 $ 3,222
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 $ 12,389 $ 4,387
Population Total Used To Calculate Per Capita Figures 154,189 154,189
Source And Year of Data Used To Calculate Per Capita Figures Budget Book 2024 Budget Book 2024
(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.
25
City ofDcnton
Individual Debt Obligations
Fiscal Year Ending September 30,2024
Outstanding Debt Secured by Ad Current Credit Rating
Obligations Principal Issued Principal Outstanding Combined Principal&Interest Final Maturity Date Valorem Taxes Total Proceeds Received Proceeds Spent Proceeds Unspent Moodys S&P Fitch
Certificates of Obligation, $ 89,180,000 $ 20,840,000 $ 31,773,550 February 15,2044 Yes $ 93,781,795 $ 93,781,795 $ - Not Rated AA+ AA+
Series 2014
Proceeds ofthe sale ofthe Certificates will be used(a)acquisition ofvehicles and equipment for,and acquiring,constructing,installing and equipping additions,extensions,renovations and improvements to,the Citys 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 ofvehicles 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 o£tmffic signals;(e)acquiring,constructing,installing and equipping hangars for the municipal airport;(t)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 Citys waterworks and sewer system;(i)acquisition of equipment for,
and acquiring,constructing,installing and equipping additions,extensions,renovations and improvements to,the Citys electric light and power system;and also for the purpose of paying all or a portion ofthe Citys contractual obligations for professional services,including engineers,architects,attorneys,map makers,auditors,and
financial advisors,in connection with said projects and said Certificates.
General Obligation $ 7,330,000 $ 2,325,000 $ 2,736,950 February 15,2034 Yes $ 4,063,543 $ 4,063,543 $ - Not Rated AA+ AA+
Refunding and
Improvement Bonds,
Series 2014
Proceeds ofthe Bonds are expected to be used(i)to refund certain outstanding obligations ofthe City for debt service savings;(ii)for various street improvements,and(iii)to pay the costs associated with the isawace ofthe Bonds.
General Obligation $ 27,155,000 $ 1,850,000 $ 1,877,750 February 15,2025 Yes $ 147,264 $ 147,264 $ - Not Rated AA+ AA+
Refunding Bonds,Series
2014
Proceeds of the Bonds are expected to be used(i)to refund certain outstanding obligations ofthe City for debt service savings;(ii)to refinance a portion ofthe Citys contractual obligations to the Texas Municipal Power Agency(the"TMPA")under a power sales contract with the TMPA,specifically in respect to the refunding of
approximately$13,430,000 in maturity value of certain outstanding TMPA bonds;and(iii)to pay the costs associated with the issuance ofthe Bonds.
Certificates of Obligation, $ 93,015,000 $ 65,130,000 $ 94,257,619 February 15,2045 Yes $ 97,983,335 $ 97,983,335 $ - Not Rated AA+ AA+
Series 2015
Proceeds ofthe sale ofthe Certificates will be used(a)acquisition ofvehicles and equipment for,and acquiring,constructing,installing and equipping additions,extensions,renovations and improvements to,the Citys 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,noting and flooring;(c)acquisition ofvehicles and equipment for the fire,police,building inspections,animal services,streets and truffle 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,onstructing,installing and equipping additions,extensions,enovations 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 tation,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 Citys waterworks and sewer system;and(i)acquisition of equipment for,and acquiring,constructing,installing and equipping additions,extensions,renovations and improvements to,the Citys electric light and power system,and also for the purpose of paying all or a portion of
the Citys contractual obligations for professional services,including engineers,architects,attorneys,map makers,auditors,and financial advisors,in connection with said projects and said Certificates.
General Obligation $ 37,640,000 $ 18,860,000 $ 22,296,444 February 15,2035 Yes $ 23,013,425 $ 23,013,425 $ - Not Rated AA+ AA+
Refunding and
Improvement Bonds,
Series 2015
Proceeds of the Bonds are expected to be used(i)to refund certain outstanding obligations of the City for debt service savings;(ii)for street improvements,public safety facilities improvements,stormwater drainage and flood control improvements,and park system improvements,and(iii)to pay the costs associated with the issuance of the
Bonds.
General Obligation $ 33,945,000 $ 635,000 $ 662,250 February 15,2026 Yes $ 37,992,142 $ 37,992,142 $ - Not Rated AA+ AA+
Refunding Bonds,Series
2015
Proceeds of the Bonds will be used(i)to currently refund in part,and advance refund in part,certain outstanding obligations ofthe City for debt service savings;(ii)to refinance a portion ofthe Citys 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 ofthe Bonds.
Certificates of Obligation, $ 83,305,000 $ 59,670,000 $ 83,825,728 February 15,2046 Yes $ 92,340,554 $ 92,340,554 $ - Not Rated AA+ AA+
Series 2016
Proceeds from the sale ofthe Certificates will be used(a)acquisition ofvehicles and equipment for,and acquiring,constructing,installing and equipping additions,extensions,renovations and improvements to,the Citys 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 ofvehicles and equipment f 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;(c)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 the 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 Citys waterworks and sewer system;and(i)
acquisition of equipment for,and acquiring,constructing,installing and equipping additions,extensions,renovations and improvements to,the Citys electric light and power system,and also for the purpose ofpaying all or a portion ofthe Citys contractual obligations for professional services,including engineers,architects,attorneys,
map makers,auditors,and financial advisors,in connection with said projects and said Certificates.
General Obligation $ 28,930,000 $ 16,540,000 $ 19,160,050 February 15,2036 Yes $ 16,915,297 $ 16,915,297 $ - Not Rated AA+ AA+
Refunding and
Improvement Bonds,
Series 2016
Proceeds ofthe Bonds are expected to be used(i)to refund certain outstanding obligations ofthe 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 ofthe
Bonds.
General Obligation $ 38,425,000 $ 17,925,000 $ 19,760,900 February 15,2030 Yes $ 175,657 $ 175,657 $ - Not Rated AA+ AA+
Refunding Bonds,Series
2016A
Proceeds from the sale ofthe Bonds,together with fonds contributed by the City,are expected to be used(i)refund all outstanding obligations ofthe Citys Utility System for debt service savings;and(ii)to pay the costs associated with the issuance ofthe Bonds.
Utility System Revenue $ 214,890,000 $ 172,900,000 $ 234,986,250 December 1,2036 No $ 246,164,298 $ 246,086,317 $ 77,982 Not Rated A+ A
Bonds,Series 2017 26
Outstanding Debt Secured by Ad Current Credit Rating
Obligations Principal Issued Principal Outstanding Combined Principal&Interest Final Maturity Date Valorem Taxes Total Proceeds Received Proceeds Spent Proceeds Unspent Moody's S&P Fitch
Proceeds from the sale of the Series 2016 Bonds will be used to(a)acquire and construct additions and improvements to the CitYa 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 vests of issuance in connection with the
issuance of the Series 2016 Bonds.
Certificates of Obligation, $ 90,800,000 $ 62,095,000 $ 92,455,825 February 15,2047 Yes $ 98,365,003 $ 98,365,003 $ - Not Rated AA+ AA+
Series 2017
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 CitYs 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 ofvehicles 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,(t)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 ofpaying 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.
General Obligation $ 29,105,000 $ 12,115,000 $ 14,854,272 February 15,2037 Yes $ 17,294,871 $ 16,855,546 $ 439,325 Not Rated AA+ AA+
Refunding and
Improvement Bonds,
Series 2017
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 stfeet improvements and public safety facilities improvements,and(iii)to pay the costs associated with the issuance of the Bonds.
General Obligation $ 19,235,000 $ 15,140,000 $ 19,188,238 February 15,2038 Yes $ 19,871,128 $ 19,871,128 $ - Not Rated AA+ AA+
Bonds,Series 2018
Proceeds of the Bonds are expected to be used(i)street improvements,stonn water drainage and flood control improvements,and park system improvements;and(ii)to pay the costs associated with the issuance of the Bonds.
Certificates of Obligation, $ 9,555,000 $ 4,635,000 $ 5,728,638 February 15,2038 Yes $ 10,020,370 $ 10,020,370 $ - Not Rated AA+ AA+
Series 2018
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 makm,auditors,and financial advisors,in connection with said projects and the Certificates(see"Plan of Financing").
Certificates of Obligation, $ 29,545,000 $ 21,610,000 $ 27,576,947 February 15,2038 Yes $ 31,802,097 $ 31,802,097 $ - Not Rated AA+ AA+
Series 2018A
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,
constructing 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 ofpaying all or a portion ofthe City's contractual obligations for professional services,including engineers,architects,attorneys,map makers,auditors,and financial advisors.
General Obligation $ 44,340,000 $ 19,760,000 $ 23,705,700 February 15,2039 Yes $ 48,176,707 $ 47,947,129 $ 229,578 Not Rated AA+ AA+
Refunding&
Improvement Bonds,
Series 2019
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.
Certificates of Obligation, $ 28,755,000 $ 20,210,000 $ 26,483,200 February 15,2049 Yes S 30,516,239 S 30,516,239 $ - Not Rated AA+ AA+
Series 2019
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 a 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 puking facilities,including the acquisition of land therefor;and(f)acquisition and installation of technology equipment including computer equipment and software for various municipal departments;and also for the purpose of paying all or a portion of the Issuer's contractual
obligations for professional services,including engineers,architects,attorneys,map makers,auditors,and financial advisors,in connection with said projects and said Certificates of Obligation.
General Obligation $ 62,080,000 $ 40,680,000 $ 47,878,175 February 15,2040 Yes $ 70,866,956 $ 60,682,666 $ 10,184,290 Not Rated AA+ AA+
Refunding&
Improvement Bonds,
Series 2020
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"Refused Obligations")for debt service savings and(iii)to pay the costs associated
with the issuance of the Bonds(see"Plan ofFinaneing").
Certificate of Obligations, $ 58,080,000 $ 49,520,000 $ 62,343,600 February 15,2050 Yes $ 64,267,139 $ 64,267,139 $ - Not Rated AA+ AA+
Series 2020
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 a 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").
General Obligation $ 14,150,000 $ 10,280,000 $ 11,927,675 February 15,2031 Yes $ 17,031,195 $ 17,031,195 $ - Not Rated AA+ AA+
Refunding Bonds,Series
2020A
27
Outstanding Debt Secured by Ad Current Credit Rating
Obligations Principal Issued Principal Outstanding Combined Principal&Interest Final Maturity Date Valorem Taxes Total Proceeds Received Proceeds Spent Proceeds Unspent Moodys S&P Fitch
Proceeds ofthe Bonds are expected to be used for(i)to refund the bonds described in Schedule I—Schedule of ftefimded Obligations(the"Refunded Obligations")for debt service savings and(ii)to pay the costs associated with the issuance ofthe Bonds(see"Plan of Financing').
Certificates of Obligation, $ 97,035,000 $ 86,695,000 $ 113,587,616 February 15,2021 Yes $ 104,246,453 $ 95,143,204 $ 9,103,248 Not Rated AA+ AA+
Series 2021
Proceeds from the sale ofthe Certificates will be used for(i)acquisition of equipment for,and acquiring,constructing,installing and equipping additions,extensions,renovations and improvements to,the Citys waterworks and wastewater system;(ii)acquisition of equipment for,and acquiring,constructing,installing and equipping
additions,extensions,renovations and improvements to,the Citys electric light and power system;(iii)constructing and improving streets,including landscaping,drainage,utility line relocations and the acquisition o£land and rights-of-way therefor,(iv)acquisition ofvehicles and equipment for the fire,police,building inspections,
community improvementservices,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 ofreplacement 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 ofthe Citys contractual obligations for professional services,including engineers,architects,attorneys,map makers,auditors,and financial advisors,in connection with said projects and the Certificates(see"Plan of Financing").
General Obligation $ 54,710,000 $ 49,065,000 $ 60,884,444 February 15,2041 Yes $ 59,608,180 $ 59,608,180 $ - Not Rated AA+ AA+
Bonds,Series 2021
Proceeds from the sale ofthe 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 Citys 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 improvementservices,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 ofthe City's contractual obligations for professional services,including engineers,architects,attorneys,map makers,auditors,and financial advisors,in connection with said projects and the Certificates(see"Plan of Financing").
Utility System Revenue $ 141,990,000 $ 134,715,000 $ 195,016,240 December 1,2050 No $ 141,990,000 $ 141,990,000 $ - Not Rated A+ A
Refunding Bonds,
Taxable Series 2021
Proceeds from the sale ofthe 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 ofthe Taxable Series 2021 Bonds(See"Plan of Financing—Purpose"and"Plan of Financing—Refunded Notes").
Certificates of Obligation, $ 112,155,000 $ 105,085,000 $ 161,669,506 February 15,2052 Yes S 119,729,679 $ 112,854,250 $ 6,875,429 Not Rated AA+ AA+
Series 2022
Proceeds from the sale ofthe 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;(if)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 ofreplacement 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 Citys solid waste disposal system;(ix)
acquisition of equipment for,and acquiring,constructing,installing and equipping additions,extensions,renovations and improvements to,the Citys waterworks and wastewater system;and(x)acquisition of equipment for,and acquiring,constructing,installing and equipping additions,extensions,renovations and improvements to,the
Citys electric light and power system and also for the purpose ofpaying all or a portion ofthe Citys 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 ofFinancing").
General Obligation $ 71,285,000 $ 60,730,000 $ 87,251,375 February 15,2042 Yes $ 76,874,578 $ 73,335,759 $ 3,538,819 Not Rated AA+ AA+
Refunding&
(improvement Bonds,
Series 2022
Proceeds ofthe 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 ofthe Bonds(see"Plan of Financing").
Certificates of Obligation, $ 149,140,000 $ 144,830,000 $ 229,453,300 February 15,2053 Yes $ 158,357,363 $ 81,600,098 $ 76,757,265 Not Rated AA+ AA+
Series 2023
Proceeds from the sale ofthe Certificates will be used for the purchase,construction and acquisition of certain mat and personal property,to wit:(a)acquiring,constructing,installing and equipping the 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,flect 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,ins rtling 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 oftechnology 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 afford and rights-of--way therefor;0)constructing,reconstructing and renovating runways and taxiways at the municipal airport;(k)acquisition ofvehicles and equipment for,and acquiring,constructing,installing and equipping additions,extensions,renovations and
improvements to,the Citys solid waste disposal system;(1)acquisition of equipment for,and acquiring,coustmcing,installing and equipping additions,extensions,renovations and improvements to,the Citys waterworks and wastewater system;and(m)acquisition of equipment for,and acquiring,constructing,installing and equipping
additions,extensions,renovations and improvements to,the Citys electric light and power system,and also for the purpose ofpaying all or a portion ofthe Citys contractual obligations for professional services,including engineers,architects,attorneys,map makers,auditors,and financial advisors,in connection with said projects and the
Certificates(see"Plan of Financing")
General Obligation $ 72,625,000 $ 68,935,000 $ 93,311,950 February 15,2043 Yes $ 80,345,643 $ 45,886,018 $ 34,459,625 Not Rated AA+ AA+
Refunding and
Improvement Bonds,
Series 2023
Proceeds ofthe 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").
General Obligation $ 117,630,000 $ 117,630,000 $ 176,430,007 February 15,2044 Yes $ 88,473,827 $ 1,892,567 $ 86,581,260 Not Rated AA+ AA+
Refunding and
Improvement Bonds,
Series 2024
PURPOSE...Proceeds ofthe 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 Refonded Obligations(the"Refunded Obligations")for debt service savings,and(vii)paying the costs associated with the issuance ofthe Bonds(see"Plan of Financing").
Certificates of Obligation, $ 242,790,000 $ 242,790,000 $ 379,212,334 February 15,2054 Yes $ 260,389,585 $ 14,018,056 $ 246,371,529 Not Rated AA+ AA+ 28
Series 2024
Outstanding Debt Secured by Ad Current Credit Rating
Obligations Principal Issued Principal Outstanding Combined Principal&Interest Final Maturity Date Valorem Taxes Total Proceeds Received Proceeds Spent Proceeds Unspent Moody+s S&P Fitch
PURPOSE...Proceeds from the sale of the Certificates will be used for the purchase,construction and acquisition o£certain real and personal property,to wit:(a)acquisition of equipment for,and acquiring,contracting,installing and equipping additions,extensions,renovations and improvements to,the Citys waterworks and
wastewater system;(b)acquisition of equipment for,and acquiring,constructing,installing andequipping additions,extensions,renovations and improvements to,the Citys electric light and power system;(c)renovating,constrnaing,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 o£replacement heating,venting and air conditioning equipment,roofing and flooring;(t)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,reconstmcting,renovating,installing and equipping municipal parks;(i)renovations to and equipping existing municipal vehicle maintenance facility,Q)acquisition and installation o£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;(I)acquisition of equipment for,and acquiring,constructing,installing and equipping additions,extensions,renovations and
improvements to,the Citys drainage and storm sewer systems;and(m)acquisition ofvehicles and equipment for,and acquiring,constructing,installing and equipping additions,extensions,renovations and improvements to,the Citys solid waste disposal system,and also for the purpose of paying all or a portion of the Citys contractual
obligations for professional services,including engineers,architects,attorneys,map makers,auditor„and financial advisors,in connection with said projects and the Certificates(see"Plan of Financing").
Utility System Revenue $ 31,395,000 $ 31,395,000 $ 35,649,377 December 1,2028 No $ 31,395,000 $ 31,395,000 $ - Not Rated A+ A+
Bonds,Series 2024
The Obligations are being issued for the purpose ofproviding funds for(i)the Ray Roberts Treatment Plant expansion and other system improvements and(ii)to pay the costs of issuance of the Obligations.
TOTAL $2,130,215,000 $ 1,674,590,000 $ 2,375,945,909 $ 2,142,199,322 $ 1,667,580971 $ 474,618,350
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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.
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Glossary of Terms - continued
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).
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.
31