Page 54 - Hurst Adopted FY22 Budget
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APPROVED FISCAL YEAR 2022 BUDGET
The General Obligation Bond Fund will ensure all debt issued for voter approved projects
are appropriately expended. Creation of a separate GO bond fund ensures all debt directly
supported by property taxes are adequately funded and also assists the City in complying
with arbitrage calculation requirements. New or expanded facilities constructed with GO
bond funds increase the city’s operational costs for utilities and maintenance.
Certificates of Obligation (CO) Bonds are tax supported bonds, similar to General Obligation
Bonds, can be issued only after meeting strict publication requirements with final approval by
the City Council. These bonds can only be used to support Public Works projects and do not
require voter approval.
Other Project Funds account for other project funds utilized by the City to manage pay-as-
you-go projects. For example, the Special Projects Fund is used to account for Council and
City Manager approved projects, which are funded by operational reserves.
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