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City of Troup Debt Information

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The City of Troup's most recently completed fiscal year ended September 30, 2022.
The total outstanding debt obligations at the end of the fiscal year was $1,638,482.
The tax supported debt obligations were $1,507,000 or $751.25 per capita using the 2020 census.
Troup has no revenue supported debt obligations.
Total lease-purchase obligations were $131,482.

In Fiscal Year 2014, the Troup City Council authorized the issuance of $1,544,000 in Certificates of Obligation to refund existing debt at a lower interest rate. This debt was primarily incurred for the construction of a new Elevated Water Storage tank. The bonds are repayable in 30 years and bear an interest rate of 2.92%. They will mature August 1, 2029. These Certificates of Obligation are referred to as General Obligation Bonds, Series 2013. Certificates of Obligation are issued by a City Ordinance enacted by the City Council.

In Fiscal Year 2021, the Troup City Council authorized the issuance of $840,000 in Certificates of Obligation to fund the renovation and improvement of Troup's wastewater treatment plant. The certificates of obligation were issued through the Texas Water Development Board and are repayable in 30 years and bear an interest rate of 0.0%. They will mature on August 1, 2050. These Certificates of Obligation are referred to as Combination Tax and Surplus Water and Sewer Revenue Certificates of Obligation, Series 2020. Certificates of Obligation are issued by a City Ordinance enacted by the City Council.

Lease Purchase agreements are approved by the City Council by a City Council Resolution. Lease Purchase agreements are used as short term financing of vehicles and equipment and have a maximum seven year repayment.

 

City of Troup Tax Supported Debt Obligations

Certificates of ObligationCouncil ApprovedApproved AmountFunding SourcePurpose
2013 Refunding Certificates of ObligationYes$1,544,000Ad Valorem TaxesConstruction of Elevated Water Storage Tank
2020 Combination Tax and Surplus Water and Sewer System Revenue Certificates of ObligationYes$844,000Ad Valorem TaxesRenovation of Wastewater Treatment Plant

City of Troup Lease Purchase or Lease Revenue Debt Obligations

Type Council Approved Approved Amount Purpose
Lease Purchase Yes $44,698.00 Storm Siren
Lease Purchase Yes $34,155.71 Tractor
Lease Purchase Yes $72,500.00 Backhoe
Lease Purchase Yes $65,330.00 Vacuum Excavator
Lease Purchase Yes $102,588.00 Water Well Equipment Well Number 2
Lease Purchase Yes $200,000.00 Water Well Equipment Well Number 1

City of Troup Current Debt Obligations

Debt TypeCurrent Amount OutstandingPer Capita
Total Outstanding
Debt Obligations
$1,781,359.36$888.02
Tax Supported
Debt Obligations
$1,381,000$688.43
Revenue Supported
Debt Obligation
-0--0-
Lease Purchase or Lease Revenue
Debt Obligations
$400,359.36$199.58

Per Capita is based on the 2020 Census

Currently the City of Troup has scheduled no bond elections. All City of Troup ad valorem Tax Obligations and Certificates of Obligation are authorized by the Troup City Council. All Lease Purchase agreements are authorized by the Troup City Council.

Download Troup's current Local Annual Debt Report created in
compliance with Local Government Code Section 140.008

Download the spreadsheet with the total outstanding tax-supported
and revenue supported debt for the past five years.

Download the Issue-by-Issue listing of Troup's outstanding debt obligations here.
Download the amortization schedule of all current City of Troup outstanding debt obligations here.

The tax rates for our current fiscal year can be found by following this link or downloading this file.

Follow this link to the Texas Comptroller of Pubic Accounts Debt at a Glance tool

Follow this link to the Bond Review Board local government debt data.

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CHART City of Troup Tax Supported and Revenue Supported Debt 2019 thru 2023 (2)
CHART Inflation Adjusted Debt Obligations per capita 2018 thu 2023

Click the above images to go to our Financial Transparency or Pension Transparency