Page 360 - City of Bedford FY22 Budget
P. 360
Debt Snapshot
The Ge ne ral De bt Se rv ice Fu nd is u se d for t he accu mu lat ion of re sou rce s for pay me nt of ge ne ral long-t e rm
de bt principal and int e re st . R e sou rce s inclu de an applicable port ion of t he ad v alore m t ax le v y and re lat e d
int e re st income u sable from de bt se rv ice . Fu nding of t he Ge ne ral De bt Se rv ice Fu nd is made on a
conse rv at iv e basis of e st imat ing t he colle ct able port ion of t he t ax le v y. From t his colle ct able port ion, an
allocat ion of av ailable fu nds is made be t we e n Ge ne ral Fu nd ope rat ing re v e nu e and Ge ne ral De bt Se rv ice
Fu nd.
De bt t hat is su pport e d by t he u t ilit y sy st e ms or sale s t ax de dicat e d t o St re e t Improv e me nt s are paid from
t hose fu nds wit h fu nding coming from t he re v e nu e of t he wat e r and se we r charge s, st ormwat e r fe e s, or
port ion of sale s t ax de dicat e d t o st re e t improv e me nt s as applicable .
The St at e of Te x as limit s t he ad v alore m t ax rat e t o $2.50 pe r $1 0 0 v alu at ion, inclu ding t he compone nt for
de bt se rv ice . The C it y of Be dford’s 20 21 -20 22 adopt e d t ax rat e falls we ll be low t his limit .
The C it y cu rre nt ly has a bond rant ing of AA from S& P.
"12,096,887
$ 471,6 01 (4.06 % vs. 2021 year)
City of Bedford, TX | Budget Book 2022 Page 360
