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.
|FY 2016-2017||Per Capita|
|Total Outstanding Debt Obligations||$39,550,003||N / A
|Total Tax-Supported Debt Obligations
|Total Revenue-Supported Debt Obligations||$22,380,728||N / A|
|Total Lease-Purchase or Lease-Revenue Obligations||$0||N / A|
The City Council issued $9.215 Million worth of general obligation and refunding bonds at the January 19, 2016 meeting.
$5 Million of this amount was the General Obligation Bonds to pay costs of street and road improvements and related infrastructure in the City (voter approved in May 2014). Remaining proceeds from the sale of the Bonds will be used for refunding a portion of the City's outstanding debt in order to lower overall debt service requirements of the City and for payment of the costs associated with the issuance of Bonds.
At their December 5, 2017 regular meeting, the City Council approved a resolution giving notice of intent to issue bonds in January 2018. Council will vote to issue not more than $8 million for a new fire station, new transfer station, and SUMP projects. Please view the notice (PDF).
View the Debt by Fiscal Year information (XLS).
Population figures used in per capita calculations provided by the Texas Demographic Center 2016 estimate of 16,627.
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.