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Under current Texas statutes, the City has no legal limit on bonded debt. State statutes do, however, limit the total
amount of ad valorem taxes the City can impose. This limit is $2.50 per $100 of assessed valuation The City's total
tax rate of $0.6175 (for both the General Fund and the Debt Service Fund) and the tax rate for retirement of debt
service of $0.0365 are considerably below this limit.
Debt Service expenses financed through property tax revenue total $1,561,757 in 2021-22. Included in this total is
$1,015,000 for general obligation bond principal retirements, $546,257 for general obligation bond interest
expenses, and $3,800 for agent fees.
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