C.A.F.R., FY 2019-20 with continuing disclosure tables

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Long -Term Debt The City has two capital leases with $950,526 in principal outstanding at year end. The City of Paris also has total bonded debt outstanding in the amount of $52,800,526 (includes the two capital leases). Of this amount, $13,925,526 comprises debt being paid for by property tax or hotel tax revenues, and $38,875,000 represents bonds being paid for by water and sewer revenues. Issue 2010 Tax and Rev C.O.s 2012 G.O. Refunding Bonds 2013 C.O.s (TWDV) 2013 G.O. Bonds 2016 G.O. Bonds 2017 G.O. Bonds 2018 G.O. Bonds 2020 Tax and Rev C.O.s SuRRMA Loan Capital Leases — Firetrucks Paris' bond debt had a net decrease of $2,065,000 (3.83%) during the fiscal year. The City's underlying bond rating from Moody's is Aa3. The maximum tax rate permitted by Article XI, Section 5 of the State of Texas constitution is $2.50 per $100 of assessed valuation. Consequently, no legal debt margin can be calculated. The state attorney general has traditionally allowed up to $1.50 per $100 valuation to be applied to debt service. The City levied a tax rate of $0.51608 per $100 valuation for the 2019-20 fiscal year. This rate was broken down into $0.40868 per $100 valuation for operations and $0.10740 per $100 valuation for debt service. Using the traditional allowance of the state attorney general as a guide, the City of Paris is utilizing only 7.16% of its debt capacity. Additional information on the City of Paris' long-term debt can be found in note IV. K. of the Notes to the Financial Statements. Economic Factors and Next Year's Budgets and Rates • Sales tax revenues are projected to grow 5% in the coming year. • New construction amounted to 25 residential units and 15 commercial units. • Local population growth is expected to be minimal. • The tax rate is expected to drop below $0.50 per $100 of value as property values continue to grow. • Franchise fees are expected to remain stable. All of these factors were considered in preparing the City of Paris' budget for 2020-21. Requests for Information This financial report is designed to provide a general overview of the City of Paris' finances for all those with an interest in the government's finances. Questions concerning any of the information provided in this report or requests for additional information should be addressed to the Office of the Finance Director, 135 S.E. First Street, City of Paris, Texas 75460. 12 Moody's Revenue Final Investors Tax Supported Supported Maturity Rating $ 1,895,000 $ - 12-15-2029 Aa3 800,000 - 12-15-2021 Aa3 - 12860,000 6-15-2032 N/A - 28,5652000 12-15-2032 Aa3 - 7,450,000 12-15-2036 Aa3 8,590,000 - 6-15-2037 Aa3 190,000 1,000,000 9-30-2028 Aa3 1,5001000 - 6-15-2030 N/A 370,500 - 6-29-2025 N/A 950,526 - 1-28-2026 N/A $ 14,296,026 $ 38,875,000 Paris' bond debt had a net decrease of $2,065,000 (3.83%) during the fiscal year. The City's underlying bond rating from Moody's is Aa3. The maximum tax rate permitted by Article XI, Section 5 of the State of Texas constitution is $2.50 per $100 of assessed valuation. Consequently, no legal debt margin can be calculated. The state attorney general has traditionally allowed up to $1.50 per $100 valuation to be applied to debt service. The City levied a tax rate of $0.51608 per $100 valuation for the 2019-20 fiscal year. This rate was broken down into $0.40868 per $100 valuation for operations and $0.10740 per $100 valuation for debt service. Using the traditional allowance of the state attorney general as a guide, the City of Paris is utilizing only 7.16% of its debt capacity. Additional information on the City of Paris' long-term debt can be found in note IV. K. of the Notes to the Financial Statements. Economic Factors and Next Year's Budgets and Rates • Sales tax revenues are projected to grow 5% in the coming year. • New construction amounted to 25 residential units and 15 commercial units. • Local population growth is expected to be minimal. • The tax rate is expected to drop below $0.50 per $100 of value as property values continue to grow. • Franchise fees are expected to remain stable. All of these factors were considered in preparing the City of Paris' budget for 2020-21. Requests for Information This financial report is designed to provide a general overview of the City of Paris' finances for all those with an interest in the government's finances. Questions concerning any of the information provided in this report or requests for additional information should be addressed to the Office of the Finance Director, 135 S.E. First Street, City of Paris, Texas 75460. 12