|The Debt Obligations page contains information required by the Texas Comptroller of Public Accounts to qualify for the Comptroller's Transparency Stars program. The City of Richardson has provided additional financial information that is not required by the Comptroller's program. This information will provide a broader understanding of the City's finances.
Bonds issued for the General Government are payable from the levy of property taxes assessed against taxable property within the City, as well as a limited pledge of revenues from the Water Fund. Bonds issued for business-type activities are secured by a pledge of the property tax levy, but are self-supporting obligations which are paid from the respective net revenues of each activity. Other obligations, including leases, may be repaid from property tax levies or general operating revenues. The City does not currently issue revenue bonds.
Current Debt Obligation Information as of 9/30/2018
|Total Outstanding Obligations||$256,404,464||$49,340,000||$305,744,464||$2,776|
* Based on a population of 110,140 as of January 2018
Most Recent Bond Election
2015 Bond Referendum
Detailed information regarding the above mentioned $115 million bond package approved in November 2015.
Notice of Intent to Issue Debt
The City Council authorized the publication of a Notice of Intent to issue Certificates of Obligation. The Council will consider passage of an Ordinance to authorize the issuance of the Certificates at its meeting on January 27, 2020 at 6PM. Additional details of this issuance are in the attached document.
Upcoming Bond Elections
There are no planned bond elections at this time.
Historical Bond Elections
View the history and results of bond elections going back to 1925.
Inflation is the concept that the costs of goods and services generally rise, and more capital projects can be completed with funds available today rather than the same amount of funds available in the future. Conversely, inflation means that amounts borrowed today will costs less to repay in the future. Bondholders are compensated for inflation through interest payments on the outstanding debt at rates determined at the time debt is sold. The chart below shows the principal balance of debt outstanding on a per capita basis as well as the same figure as adjusted by inflation. Each outstanding debt is adjusted by inflation from the time of issue until the current year, as measured by the Consumer Price Index. For example, bonds issued in 2010 would compare changes in CPI from 2010 to the current fiscal year, and adjust the principal amount accordingly. Bonds issued in 2015 would compare changes in CPI from 2015 to the current fiscal year, adjusting the principal amount accordingly. No adjustment is made for debt issued in the current year.
Debt Excerpts from Approved Budgets
Debt information is provided as part of the City's budget in accordance with the City's Charter. The following links contain debt information excerpts from the past 5 years of City budgets.
2020 Budget Excerpt
2019 Budget Excerpt
2018 Budget Excerpt
2017 Budget Excerpt
2016 Budget Excerpt
2015 Budget Excerpt
2014 Budget Excerpt
2013 Budget Excerpt
Report for compliance with HB 1378, Texas Legislative Session 84(R)
House Bill 1378 from the 2015 Texas legislative session requires local governments to provide detailed information and analysis of outstanding obligations, beginning with fiscal year 2016. The City's report, using formatting and debt definitions provided by the Texas Comptroller's Office, can be found in the links below.
Time Trend for Tax Supported and Revenue Supported Debt
Downloadable file detailing the outstanding General Government and Business-Type debt as of the last day of the fiscal year, for the 5 previous years.
Issue-by-Issue Listing of Outstanding Debts
Downloadable file detailing all outstanding City of Richardson debt obligations, including principal amount, purpose, interest rate, and unspent amount.
Provides information about current local tax rates.
Find information about your City Council, including contact information and links to agenda packets and other documents provided at each City Council Meeting and Worksession. Also, sign up for the City’s weekly E-Mail Newsletter.
Texas Bond Review Board
Texas agency that ensures debt financing is used prudently to meet Texas' infrastructure needs and other public purposes, supports and enhances the debt issuance and debt management functions of state and local entities, and administers the state's private activity bond allocation.
Texas Comptroller Debt at a Glance
The Texas Comptroller's office provides debt statistics on all Texas cities, counties, school districts, and community college districts, as well as the State of Texas.
Provides a link to the State of Texas Comptroller’s website about transparency in government.