Page 47 - Grapevine FY20 Approved Budget

The City has also issued tax notes, which are generally short-term debt instruments, in the
amount of $4.9 million for upgrades to the police/fire radio system, fire apparatus, police
vehicles and golf equipment.

Original
Issue Date
Outstanding Tax Note Debt Issues Amount Issued Use of Proceeds

Tax Notes Series 2013 $3,965,000 06/15/13 Police/Fire radio system, fire apparatus,
police vehicles, golf equipment
Tax Notes Series 2017 $970,000 10/17/17 Vehicles

Tax notes, GO bonds and COs all represent tax-supported debt, also called governmental debt.
Although the CO issues are a combination of tax and revenue supported debt, in the event of a
revenue shortfall the City has pledged its taxing authority as surety.

Overall, current outstanding governmental debt is $217,063,072, (not including TIF) with a
principal balance of $164.5 million. Repayment of this debt is scheduled over a twenty (20) year
period and is payable from a general property tax levy.

Outstanding Interest Total Percentage
Debt Instrument Principal Due Debt of Total
General Obligation Bonds $92,950,000 $28,721,399 $121,671,399 56.05%
Certificates of Obligation $50,127,553 $18,247,282 $68,374,835 31.50%

Tax Notes and Contractual Obligations $5,360,080 $674,255 $6,034,335 2.78%
Sales Tax Revenue Bonds $16,110,000 $4,872,503 $20,982,503 9.67%
Total $164,547,633 $52,515,439 $217,063,072 100.00%

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