Page 45 - CityofGrapevineFY25AdoptedBudget

During the same period, the City has also issued certificates of obligation (CO) debt of $114.9
million to finance vehicle and capital equipment replacements, computers, golf carts, land
acquisitions, construction of the CVB Headquarters & Museum Complex, improvements at the
Vineyards Campground, and for the purchase of mobile electronic hand-held ticket writers. The
debt has been issued through both negotiated and competitive sales.

In June 2024 the City issued $34.5 million in Combination Tax and Revenue Certificates of
Obligation for the purpose of:

(a) Designing, developing, constructing, renovating, improving and equipping the City’s water
and wastewater system and facilities;
(b) Designing, developing, constructing, renovating, improving and equipping the City’s
existing Municipal Services Center;
(c) Designing, developing, constructing and improving drainage and flood control projects;
(d) Paying professional services incurred in connection with these items; and
(e) Paying the costs incurred in connection with the issuance of the Certificates.

Original
Issue Date
Outstanding CO Debt Issues Amount Issued Use of Proceeds

Comb Tax & Rev CO Series 2015 $11,720,000 02/01/15 Public improvements. Water & Sewer

Public Property Finance Contractual $3,070,000 02/01/15 Vehicles and Equipment
Obligation Series 2015
Comb Tax & Rev CO Series 2017 $9,535,000 01/15/17 IT equipment, land acquisition for fire
station relocations
Comb Tax & Rev CO Series 2018 $32,310,000 04/15/18 Commuter Rail Station

Comb Tax & Rev CO Series 2021 $10,220,000 08/03/21 Vehicle and equipment replacements; IT
systems and equipment; street improvements
Comb Tax & Rev CO Series 2022 $13,510,000 12/01/22 Vehicle and equipment replacements; IT
systems and equipment
Comb Tax & Rev CO Series 2024 $34,545,000 06/15/24 Municipal Service Center renovations; Water
& Sewer building renovations; Storm Drainage
flood control

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