Page 20 - Benbrook FY2021
P. 20
Debt Service Fund expenditures are restricted for payment from property taxes, Debt Service Fund reserves, and transfers from the Stormwater
Utility Fund. Expenditures are principal, interest, and agent fees for general obligation bonds issued in 2002 and re-financed in 2011, issued
in 2004 and re-financed in 2013, and issued in 2005.
The General Fund’s 2020-21 Budget includes the payment of current ad valorem taxes for property located within the Tax Increment Financing
(TIF) area to the TIF Fund. The General Fund 2020-21 Budget includes the transfer of General Fund reserves to the Capital Asset Replacement
Account to finance capital outlays for the current year and for future years through this special expense account.
20 | P a g e
