The City issues debt for the purpose of constructing or acquiring capital assets that have a general benefit to residents and that allow White Settlement to fulfill its various duties and missions as a city. Debt may be issued for the purchasing of land or rights-of-way, improvements to land, capital equipment, and for the construction of projects that provide for the general good of the city.
HB 1378: Debt Obligation Reporting under Local Government Code Section 140.008
The 84th Legislature passed HB 1378 to increase the transparency of local government debt. Under Local Government Code § 140.008 , political subdivisions, including counties, cities, school districts, junior college districts, special purpose districts, and other subdivisions of state government must annually compile their debt obligation data from the preceding fiscal year.