Debt Obligations

Various types of long-term debt have been issued by the City for acquisition and construction of major capital facilities and equipment. The City of Burleson’s outstanding debt is comprised of general obligation (GO) bonds, certificates of obligation (CO) debt, and water and sewer revenue bonds.

General Obligation Bonds

General Obligation Bonds provide funds for the acquisition and construction of major capital equipment, facilities, and infrastructure. General obligation bonds are issued pursuant to voter authorization and are backed by the full faith and credit of the City, including the power to tax its citizens. General obligation bonds have also been issued in previous fiscal years to refund prior debt issues. General obligation bonds for refunding purposes do not need voter authorization. The City is required to compute, at the time taxes are levied, the rate of tax required to provide a fund to pay interest and principal at maturity.

General Obligation Bonds have been rated Aa2 by Moody’s and AA by S&P.

Certificates of Obligation

Certificates of Obligation debt is similar to general obligation bonds but do not require voter authorization and are not used for refunding debt. The City’s outstanding certificates are backed by property tax revenues. Certificates of Obligations have been issued in prior years to fund Parks, Public Safety, Streets, Drainage, and TIF projects.

Certificates of obligations have been rated Aa2 by Moody’s and AA by S&P.

Water and Sewer Revenue Bonds

Water and Sewer Revenue Bonds are issued for the purpose of financing the acquisition and construction of major capital improvements for the water and sewer system and related facilities. They are repaid with utility revenues.

The City’s utility revenue bonds are rated A1 by Moody’s and AA- by S&P.

Financial Information

At the end of fiscal year 2024, the City of Burleson had total debt outstanding of $198,280,000. Of this amount, $144,000,232 comprises debt backed by the full faith and credit of the City. The remainder of the debt is secured solely by specified revenue sources.

Historical Bond Election Information

The City of Burleson does not have a bond election scheduled for the following fiscal year.

Click here for the most recent Local Annual Debt Report. 

Current Debt Obligations as of 9/30/2024: Issue-by-issue listing including outstanding direct debt obligations and tax and revenue supported debt obligations. Includes, outstanding principal amount, debt service, spent and unspent bond proceeds, purpose, and credit rating.

Time trend for total outstanding tax-supported and revenue-supported debt: Five fiscal year lookback. 

HB 1378: Debt Obligation Reporting

The 84th Legislature passed HB 1378 to increase the transparency of local government debt. Under Local Government Code § 140.008, political subdivisions, including counties, cities, school districts, junior college districts, special purpose districts, and other subdivisions of state government must annually compile their debt obligation data from the preceding fiscal year.

Other Information

• Current Fiscal Year’s Tax Rate Information 
• Bond Review Board Local Government Debt Data 
• City of Burleson Adopted Budgets 

These reports are available for public inspection. Please contact Kevin Hennessey at khennessey@burlesontx.com or 817-426-9648.