Debt Obligations

A general obligation bond (GO) is a municipal bond backed by the credit and taxing power of the issuing jurisdiction. General obligation bonds are issued with the belief that a municipality will be able to repay its debt obligation through taxation. The state of Missouri permits a city, by a vote of two-thirds of the voting electorate, to incur GO indebtedness not to exceed 20% of the assessed valuation of taxable property. The total GO bond debt limit was $420 million as of January 1.

Revenue bonds are municipal bonds that finance income-producing projects and are secured by a specified revenue source. Typically revenue bonds can be issued by any government agency or fund that is managed in the manner of a business, such as entities having both operating revenues and expenses.

Governmental Activities Interest Rates Maturity Date Balance May 1, 2022
General Obligation Bonds

Refunding (2003) -- 2013B

3.00-4.00% 4/1/2023 $1,540,000

Improvement bonds -- 2016A

1.75-5.00% 4/1/2029 $4,500,000

Improvement bonds -- 2017A

2.00-5.00% 4/1/2026 $8,200,000

Improvement bonds -- 2020A

1.89% 4/1/2023 $1,055,000

Improvement bonds -- 2021A

0.83% 4/1/2023 $3,275,000

Improvement bonds -- 2022A

1.60% 4/1/2025 $15,000,000

Total General Obligation Bonds

Tax Increment Financing activities

Summit Fair TIF -- 2017

3.50-4.875% 5/1/2037 $23,615,000
Business-Type Activities