ABSTRACT
The city of Dallas has held bond programs every three to four years. $893,487,000 has been authorized through 1978, 1979, 1982, and 1985 bond programs. Bond programs provide for construction of assets with a long-term life. The 1985 bond program authorized $428.1 million in bond sales to fund construction of capital improvement program projects. The principal and interest payments on these bonds were paid primarily from ad valorem taxes. The financial management performance criteria (FMPC) are a measure of management effectiveness and fiscal responsibility of the bond programs and associated bonded indebtedness. Economic factors which affect the city's ability to issue and service new debt include interest rates, assessed property values, and the amount of general obligation (GO) debt currently outstanding. Commercial paper is a project funding source that has been successfully used by Dallas Water Utilities. Rather than increasing revenue bond debt by funding projects that may not have immediate cash requirements, it is used to support project awards.
