Page 221 - City of McAllen - Approved Annual Budget Book FY 24-25

DEBT SERVICE FUNDS - CONTINUATION

SALES TAX REVENUE BONDS

The issuance of the Bonds provided funds incurred by the Developer to construct a new parking garage at the mall�
The Corporation is obligated to make payments to the Developer pursuant to the Economic Development Agreement�

LOCAL GOVERNMENT FINANCE CORPORATION DEBT SERVICE
The issuance of the Bond provided costs for the construction of an academic building that is owned by the City and
the Board of Regents of the Texas A&M University System�
HOTEL TAX VENUE DEBT SERVICE

Proceeds were used to provide a portion of funds to construct and equip the new Performing Arts Center�
WATER AND WASTEWATER REVENUE BONDS

Within the Utility System Water Funds, restricted cash reserves are established for payment of bond principal, interest,
and agent fees. Currently, user fee rates are sufficient to produce the money required to pay principal and interest
as it comes due and provide the interest and sinking fund reserve�
AIRPORT PFC CERTIFICATE OF OBLIGATION FUND

Within the Airport PFC Fund, restricted cash reserves are established for payment of bond principal, interest, and
agent fees�

ANZALDUAS INTERNATIONAL CROSSING BONDS
Within the Anzalduas International Crossing Fund, restricted cash reserves are established for payment of bond
principal, interest, and agent fees�

Table of Contents