| (a) A political subdivision shall annually compile
and report certain financial information ("Annual Local Debt Report")
in the manner prescribed by this subchapter.
(b) The Annual Local Debt Report to be compiled and
reported by a political subdivision must include the following financial
information:
(1) Regarding total authorized debt obligations:
(A) the amount of all authorized debt obligations;
(B) the principal of all outstanding debt obligations;
(C) the combined principal and interest required to
pay all outstanding debt obligations on time and in full;
(D) the amount of all authorized debt obligations secured
by property taxes;
(E) the principal of all outstanding debt obligations
secured by property taxes;
(F) the combined principal and interest required to
pay all outstanding debt obligations secured by property taxes on
time and in full;
(G) the amount of all authorized debt obligations secured
by property taxes for municipalities, counties or school districts
expressed as a per capita amount;
(H) the principal of all outstanding debt obligations
secured by property taxes for municipalities, counties or school districts
expressed as a per capita amount;
(I) the combined principal and interest required to
pay all outstanding debt obligations on time and in full for all obligations
secured by property taxes expressed as a per capita amount; and
(J) the current credit rating on total debt obligations
given by any nationally recognized credit rating organization.
(2) Regarding each authorized debt obligation:
(A) the principal of each outstanding debt;
(B) the principal of each outstanding debt obligation
secured by property taxes for municipalities, counties or school districts
expressed as a per capita amount;
(C) the combined principal and interest required to
pay each outstanding debt obligation on time and in full;
(D) the combined principal and interest required to
pay each outstanding debt obligation on time and in full for municipalities,
counties or school districts expressed as a per capita amount;
(E) the issued and unissued amounts, the spent and
unspent amounts, the maturity date and the stated purpose for which
each debt obligation was authorized; and
(F) the current credit rating on each debt obligation
given by any nationally recognized credit rating organization.
(3) Any other information considered relevant or necessary
to explain the above required data elements, such as explanations
of payment sources for different kinds of debt or projections of per
capita amounts of ad valorem taxation-secured obligations as of the
last day of the maximum term of the most recent debt obligation issued
by the political subdivision.
|
