General Debt Service is primarily supported by the debt service portion of the City's tax rate. This portion of the tax rate is not flexible and is set by a calculation based on the required fiscal year payments.
Texas Department of Transportation Payment
In addition to revenue from the Debt Service portion of the tax rate, the city receives an annual payment from the Texas Department of Transportation (TxDOT) as part of a Pass-Through Tolling Agreement. This payment is applied to the 2008 General Obligation Bonds and payment details and further information on the agreement can be found on the "2008 GO Bonds" tab.
Other Payments & Information
To date, the 2014 Certificate of Obligation has not impacted the debt service tax rate. These payments have been made from fund balance in the General Debt Service Fund. The 2017 Tax Notes were issued to purchase new fire equipment and payments on this issue will also be paid from the fund balance. This fund balance is the result of interest collected in the fund, as well as delinquent and penalty taxes that have accumulated over prior years and is restricted to use on debt payments.
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|Fiscal Year||Principal Due||Interest Due||Total Principal & Interest|