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 2018-2019||Per Capita|
|Total Outstanding Debt Obligations||$41,404,317||$2,488.39|
|Total Tax-Supported Debt Obligations
|Total Revenue-Supported Debt Obligations||$24,713,661||$1,485.29|
|Total Lease-Purchase or Lease-Revenue Obligations||$634,317||$38.12|
On December 7, 2017, the City issued General Obligation Refunding Bonds, Series 2017, to refund the outstanding balances of its Series 2007 and 2008 General Obligation Bonds. The par amount of the bonds refunded totaled $3,865,000.
The debt service savings of the City resulting from the refunding is $338,318, while the present value of such savings is $300,504.
Population figures used in per capita calculations provided by the Texas Demographic Center 2019 estimate of 16,639.
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.