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City of Mansfield Annual Budget and Service Program Fiscal Year 2025-2026 Table of Contents

Calculation of the City of Mansfield Legal Debt Limit

The Assessed Taxable Valuation in FY 2025-2026 (Tax Year 2025) is $10,396,862,760

The Legal Debt Limit (15%) is $1,559,529,414
General Obligation Bonds and Certificates of Obligation total $359,690,000

The Legal Debt Margin is $1,199,839,414

Types of Debt and Criteria for Issuing Types of Debt
The City may choose to issue debt under any provision allowed for and permitted by State Statute. Although debt is an
obligation to be repaid, it can assume many forms. The form and character of debt is typically determined by the nature
of the funding source and nature of the asset to be purchased or improved. However, debt can generally be categorized
into two types, as determined by the Federal Income Tax Code: Governmental Bonds and Private Activity Bonds, either of
which may be taxable or tax-exempt. In determining the type of security for financing an improvement or purchasing of a
capital asset, the City may consider the following, and is not limited to the following:

Debt Form

General Obligation Facility:

Tax levy as security for the bonds
General Obligation Bonds (“GOs”)
Voter’s Approval
Specific Public Purpose

Tax levy and/or revenue pledge as security
Certificates of Obligation (“COs”) Specific public purpose
Public Notice; hearings and advertisement

Tax levy and/or revenue pledge as security
Public Property Finance Contractual Obligations
Acquisition of personal property
(“PPFCOs”)
Alternative for lease/purchase

Tax levy and/or revenue pledge as security
Construction of Public Works
Acquisition of real and personal property
Anticipation Notes
Cumulative cash flow deficit
Professional services
Maturity is maximum of seven years

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