City of White Oak

Debt Information


At the beginning of Fiscal Year 2015/2016, the total long-term debt owed by the City of White Oak was $7,955,000. All debt are Certificates of Obligation (CO) issued by the Water & Sewer Fund. The General Fund is debt-free. The 2008 Certificate of Obligation was originally issued for $2,900,000 and the current balance due is $2,655,000. The 2013 Certificate of Obligation was originally issued for $5,420,000 and the current balance due is $5,300,000. Both COs were issued for water and wastewater treatment plant improvement projects and equipment.
 
The Water & Sewer Fund (Fund 2) has an Interest & Sinking Fund (Fund 6) that it uses to pay the annual principal payments and semi-annual interest payments on both certificates of obligations. A specific amount is transferred monthly in order to accumulate the funds necessary to pay the annual principal and interest payments. Below is a table that shows how much principal and interest is due every year for each certificate of obligation.
Debt Table

City of White Oak, Texas

Contact Information

City of White Oak
906 S. White Oak Road
White Oak, TX 75693

Hours of Operation
Monday - Friday
7:30 AM - 4:30 PM

info@cityofwhiteoak.com