Page 8 - TownofWestlakeFY26BudgetOrd1029
P. 8
DEBT SERVICE
Westlake does issue debt to fund capital projects. The Town issued $9.38M during FY25 for campus facilities and
utility improvements. Approximately 45% of the newly issued debt will be paid for with the increase to the interest
& sinking portion of the property tax rate; the remaining portion will be paid out of utility revenues. As of October
1, 2025, the Town will have $51.86M outstanding across 11 issuances.
Amount Outstanding at FY26 Principal &
ISSUE Funding Source Amount Issued
10/1/25 Interest Requirements
2013 CO Sales Tax & Utility Fees $9,319,820 $6,860,000 $508,669
2013 GORB Sales Tax 2,200,000 485,000 175,063
2014 GORB Property Tax 8,500,000 1,495,000 68,600
2016 CO Sales Tax 9,180,000 7,415,000 507,100
2017 GORB Sales Tax 5,795,000 4,950,000 810,500
2018 CO Utility Fund 2,100,000 1,545,000 143,638
2021 CO Property Tax 3,215,000 2,715,000 204,300
2021 GORB Property Tax 4,430,000 1,475,000 380,351
2022 GORB Utility Fees 14,920,000 12,910,000 868,900
2023 TTN Property Tax 3,552,000 2,627,000 573,550
2025 CO Property Tax & Utility Fees 9,380,000 9,380,000 506,129
TOTAL $72,591,820 $51,857,000 $4,746,800
6
