City of Troup Debt Information
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 Obligation||Council Approved||Approved Amount||Funding Source||Purpose|
|2013 Refunding Certificates of Obligation||Yes||$1,544,000||Ad Valorem Taxes||Construction of Elevated Water Storage Tank|
|2020 Combination Tax and Surplus Water and Sewer System Revenue Certificates of Obligation||Yes||$844,000||Ad Valorem Taxes||Renovation 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||$65,330.00||Vacuum Excavator|
|Lease Purchase||Yes||$102,588.00||Water Well Equipment|
City of Troup Current Debt Obligations
|Debt Type||Current Amount Outstanding||Per Capita|
|Lease Purchase or Lease Revenue|
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.