The City of Gainesville also received a star in the area of Debt Obligations, which recognizes entities for their outstanding efforts in making their spending and revenue information available.
The City of Gainesville debt obligations summary is shown below. The all inclusive debt includes debt backed by taxes and debt that is solely supported by enterprise funds. The maximum length of debt for the city is 20 years.
Please note that all information for the City's debt obligations will be updated for FY2021 upon completion of the City's audit for the year ended September 30, 2021. The City's financial statement audit is required to be completed prior to the following March 31 for each fiscal year, which means all information and data will be updated shortly after March 31, 2022.
|FY 2019-2020||Per Capita|
|Total Outstanding Debt Obligations||$38,795,004||$2,308.68|
|Total Tax-Supported Debt Obligations
|Total Revenue-Supported Debt Obligations||$25,440,444||$1,513.95|
|Total Lease-Purchase or Lease-Revenue Obligations||$472,872||$28.14|
On June 18, 2020, the City issued General Obligation Refunding Bonds, Series 2020, to refund the outstanding balances of its Series 2010 Combination Tax & Revenue Certificates of Obligation. The par amount of the refunded debt totaled $2,930,000.
The debt service savings of the City resulting from the refunding is $412,362.75, while the present value of such savings is $383,144.87.
Concerning the proposal of the new debt issuance, please review the following notice:
View the Comptroller's Debt at a Glance tool.
Population figures used in per capita calculations provided by the Texas Demographic Center 2020 estimate of 16,804.
Access the Bond Review Board webpage to view local government debt data.
Please see the links on the left-hand menu for contact information for elected officials, information on requesting open records, and links to the Texas Comptroller’s website.