The City of Euless utilizes a pay-as-you-go method of financing capital projects when deemed feasible and reasonable. When debt is issued, the life of the bonds will not exceed the useful life of the project financed. When appropriate, self-supporting revenues will be used to pay debt service in lieu of tax revenue.
The schedule below reflects the indebtedness of the City of Euless as of the close of the last fiscal year.
- Summary of Debt Obligations as of September 30, 2019
- Debt Obligation Details as of September 30, 2019
On November 12, 2019, the Euless Development Corporation and City Council approved Resolution Numbers 23-19 and 19-1559, respectively, for the issuance of $4,120,000 of Euless Development Corporation Sales Tax Revenue Bonds, Series 2019. Proceeds will be used for construction of parks and park facilities, specifically Parks at Texas Star (Softball World) Phase VII Construction, as approved in the Capital Improvements Program Budget and the financing thereof.
On January 14, 2020, City Council approved Ordinance No. 2235 for the issuance of $7,115,000 Tax and Waterworks and Sewer System (Limited Pledge) Revenue Certificates of Obligation, Series 2020. Proceeds will be used to construct Fire Station #1 (including all related costs including demolition of existing Fire Station #1) including but not limited to Capital Improvement Project FM2006 and the financing thereof.
On May 26, 2020, City Council approved Ordinance No. 2244 authorizing the issuance of Tax Notes, series 2020 for the acquisition of public safety-related equipment, facilities, and facility demolition.