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Form 8288-A online Grand Prairie Texas: What You Should Know

Taxable interest of 6% per annum at maturity. Interest paid by Grand Prairie Consolidated School District on the bond amount. Interest paid by the municipality must meet certain requirements (the bonds are not considered obligations and the bonds are exempt from taxation). Date of Issue: July 24, 2011. City of Grand Prairie, Texas, Sales Tax Revenue Bonds, Taxable Series 2015, Term of Taxable Years 2023 through 2021. A tax rates equivalent to the rate of 6 percent (6%). The bonds are general obligation tax-exempt, state tax-exempt, unsecured and unsecured. Interest will be paid exclusively to the municipality. Taxable interest of 0.06 percent per annum at maturity. Interest paid by the municipality must meet certain requirements (the bonds are not considered obligations and the bonds are exempt from taxation). No interest is paid to any other entity other than the municipality or its officers and employees. The city is exempt from all local, state and federal taxes and fees. It has a 12 million annual operating budgets and an 8.5 million annual bonded general obligation. The aggregate sales tax revenue bonds, taxable series 2015, issued from the city are to be returned to the state treasury for deposit in the consolidated debt service fund. (These bonds are not tax-exempt, state tax-exempt or unsecured, but they are not exempt from local, state or federal taxes and fees.) The notes issued by Grand Prairie Consolidated School District (CD) are taxable bonds issued by CD for a new educational facility. (These bonds are not tax-exempt, state tax-exempt or unsecured). CD pays interest on tax-exempt bonds, or, subject to the limitations set out in Section 6 of Article II, the state, to the extent that the interest or capital gain arising from such taxes exceeds the principal amount of the tax-exempt bonds. Any excess tax-exempt bonds that are not returned to the treasury will be resold at an auction in accordance with Section 7 of this Article. CD is a wholly-owned subsidiary of a non-profit institution, the Grand Prairie Consolidated School District. The non-profit entity, the Grand Prairie School District Foundation, has been formed primarily for the purposes of raising private donations. In 2014, CD purchased and developed a new school building. CD is a tax-exempt educational institution.

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