Page 124 - CityofMansfieldFY23Budget
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Certificates of Obligation (“COs”) Tax levy and/or revenue pledge as security
Specific public purpose
Public Notice; hearings and advertisement
Public Property Finance Contractual Tax levy and/or revenue pledge as security
Obligations (“PPFCOs”) Acquisition of personal property
Alternative for lease/purchase
Anticipation Notes Tax levy and/or revenue pledge as security
Construction of Public Works
Acquisition of real and personal property
Cumulative cash flow deficit
Professional services
Maturity is maximum of seven years
Revenue Facility:
Revenue Bonds Revenue pledge as security
Pledge to set rates and fees to meet covenants
Bond Reserve Fund for surety
Covenant reporting
Equitable rate structure
First lien security with parity
Construction of capital improvements
Contract Revenue Bonds City contracts with entities
Tax levy and/or revenue pledge as security
Ownership of title may occur with entity or
City
Special Obligation Facility:
Tax Increment Financing District (“TIF”) Development district established
Construction of improvements
Incremental increase in value property only
Taxable by TIF
Non-Profit Corporations Established corporations
Property Finance Authority Revenue pledge of the corporation
Mansfield Park Facilities Development Corp Covenant reporting
Mansfield Economic Development Corp First lien security with parity
Acquisition of real or personal property
Public/private infrastructure improvements
City may or may not own title
Specific services (can be taxable or non-taxable
to the bond holders.)
Public Improvement District (“PID”) Specific improvement
Securitized by pledged assessments
Specific benefactors
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