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Long -Term Debt
<br />The City of Paris has total debt outstanding in the amount of $157,670,931 (includes financed purchases). Of this amount,
<br />$43,950,931 comprises debt being paid for by property tax, and $113,720,000 represents bonds being paid for by water and
<br />sewer revenues.
<br />Paris' bond debt decreased by $1,265,000 during the fiscal year. There was an issuance of $3,995,000 2025 Tax Notes;
<br />however, the issuance was offset by principal payments made on previously issued debt. The City's underlying bond rating
<br />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
<br />$100 of assessed valuation. Consequently, no legal debt margin can be calculated. The state attorney general has traditionally
<br />allowed up to $1.50 per $100 valuation to be applied to debt service. The City levied a tax rate of $0.46120 per $100 valuation
<br />for the 2024-25 fiscal year. This rate was broken down into $0.31292 per $100 valuation for operations and $0.14828 per $100
<br />valuation for debt service. Using the traditional allowance of the state attorney general as a guide, the City of Paris is utilizing
<br />only 9.89% of its debt capacity. Additional information on the City of Paris' long-term debt can be found in note IV. K. of the
<br />Notes to the Financial Statements.
<br />Economic Factors and Next Year's Budgets and Rates
<br />• Sales tax revenues are projected to grow 5.50% in the coming year.
<br />• New construction amounted to 31 residential units and 9 commercial units.
<br />• Local population growth is expected to be minimal.
<br />• The debt tax rate is expected to decrease $0.00778 per $100 of value for debt services while the O&M rate is expected
<br />to decrease $0.00884 per $100 of value for operations.
<br />• Franchise fees are expected to remain stable.
<br />All of these factors were considered in preparing the City of Paris' budget for 2025-26.
<br />Requests for Information
<br />This financial report is designed to provide a general overview of the City of Paris' finances for all those with an interest in the
<br />government's finances. Questions concerning any of the information provided in this report or requests for additional
<br />information should be addressed to the Office of the Finance Director, 135 S.E. First Street, City of Paris, Texas 75460.
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<br />Moody's
<br />Revenue
<br />Investors
<br />Issue
<br />Tax Supported
<br />Supported
<br />Fund Maturity
<br />Rating Insured
<br />2013 C.O. (TWDB)
<br />$ -
<br />$ 1,110,000
<br />06-15-32
<br />N/A
<br />2016 G.O. Bonds
<br />-
<br />5,465,000
<br />12-15-36
<br />Aa3
<br />2017 G.O. Bonds
<br />6,510,000
<br />-
<br />06-15-37
<br />Aa3
<br />2018 G.O. Bonds
<br />-
<br />390,000
<br />06-15-28
<br />Aa3
<br />2020 Tax and Rev. C.O. (Civic Center)
<br />-
<br />785,000
<br />06-15-30
<br />N/A
<br />2020 G.O. Refunding Bonds
<br />1,015,000
<br />-
<br />12-15-29
<br />Aa3
<br />2020 Tax Notes
<br />195,000
<br />-
<br />06-15-26
<br />N/A
<br />2021 Tax and Rev. C.O.
<br />12,005,000
<br />26,770,000
<br />12-15-50
<br />Aa3
<br />2022 GO Pension Bonds
<br />-
<br />10,390,000
<br />06-15-42
<br />Aa3
<br />2022 Water & Sewer System Rev. Bds.
<br />-
<br />26,020,000
<br />06-15-51
<br />Aa3
<br />2023 GO Refunding Bonds
<br />20,120,000
<br />-
<br />12-15-43
<br />Aa3
<br />2024 Tax and Rev. C.O.
<br />-
<br />42,790,000
<br />06-15-54
<br />Aa3
<br />2025 Tax Notes
<br />3,995,000
<br />-
<br />Financed Purchases-Firetrucks
<br />110,931
<br />-
<br />..._.
<br />01-28-26
<br />N/A
<br />Total
<br />_...$.. 43,950 w..._..
<br />931
<br />....1 .
<br />$ 13'. ,
<br />720,000
<br />Paris' bond debt decreased by $1,265,000 during the fiscal year. There was an issuance of $3,995,000 2025 Tax Notes;
<br />however, the issuance was offset by principal payments made on previously issued debt. The City's underlying bond rating
<br />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
<br />$100 of assessed valuation. Consequently, no legal debt margin can be calculated. The state attorney general has traditionally
<br />allowed up to $1.50 per $100 valuation to be applied to debt service. The City levied a tax rate of $0.46120 per $100 valuation
<br />for the 2024-25 fiscal year. This rate was broken down into $0.31292 per $100 valuation for operations and $0.14828 per $100
<br />valuation for debt service. Using the traditional allowance of the state attorney general as a guide, the City of Paris is utilizing
<br />only 9.89% of its debt capacity. Additional information on the City of Paris' long-term debt can be found in note IV. K. of the
<br />Notes to the Financial Statements.
<br />Economic Factors and Next Year's Budgets and Rates
<br />• Sales tax revenues are projected to grow 5.50% in the coming year.
<br />• New construction amounted to 31 residential units and 9 commercial units.
<br />• Local population growth is expected to be minimal.
<br />• The debt tax rate is expected to decrease $0.00778 per $100 of value for debt services while the O&M rate is expected
<br />to decrease $0.00884 per $100 of value for operations.
<br />• Franchise fees are expected to remain stable.
<br />All of these factors were considered in preparing the City of Paris' budget for 2025-26.
<br />Requests for Information
<br />This financial report is designed to provide a general overview of the City of Paris' finances for all those with an interest in the
<br />government's finances. Questions concerning any of the information provided in this report or requests for additional
<br />information should be addressed to the Office of the Finance Director, 135 S.E. First Street, City of Paris, Texas 75460.
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