Debt Transparency

Debt Obligations

The Debt Obligations page contains information required by the Texas Comptroller of Public Accounts to qualify for the Comptroller's Transparency Stars program.

As of September 30, 2022, the City of Stafford had outstanding debt totaling $13.9 million. The debt is secured by sales tax revenues and therefore did not require a bond election. The debt was authorized by the City Council as follows:

On May 16, 2018, the City Council approved an ordinance authorizing the issuance and sale of the City of Stafford, Texas Combination Tax and Limited Surplus Revenue Certificates of Obligation Series 2018 for $8,930,000, payable from sales and use tax revenues. The proceeds from the sale of the certificates will be used to fund the construction of a new fire station, an addition to the Police administration building, and other projects such as drainage, street improvements, and sidewalks.
On July 14, 2021, the City Council approved an ordinance authorizing the issuance and sale of the City of Stafford, Texas Combination Tax and Limited Surplus Revenue Certificates of Obligation, Series 2021 for $6,065,000, payable from sales and use tax revenues. The proceeds from the sale of certificates will be used to fund fire equipment, technology infrastructure, street improvements, and drainage, among other public improvement projects.

Principal and interest payments are made on March 1 of each year and a second interest only payment is made on September 1 of each year. Below is a summary of the outstanding debt principal obligations for the City of Stafford as of 9-30-22.