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Hays Free Press
Kyle, Texas
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May 1, 2013     Hays Free Press
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May 1, 2013
 

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q* CLASSIFIEDS " PUBLIC NOTICES SERVICE DIRECTORY HaysFreePress.com May 1,2013 $1 BY ANDY SEVlLLA andy@haysfreepress.com Kyle reduced its debt by al- most two percent after this fis- cal year's second-quarter pay- ments. As of March 31, Kyle's princi- pal debt totaled $66.72 million, a $1.355 million reduction from 2013 Fiscal Year's first-quarter numbers, Finance Director Per- wez Moheet told council mem- bers at their April 16 meeting. Interest payments made in the same reporting pe- riod totaled $1,114,918, for a $2,469,918 total second-quarter debt repayment. Kyle's debt was paid down with the city's debt service fimd, which accumulates monies from property tax receipts, utility rev- enues, Hays County for its share of property taxes within TIRZ (tax increment reinvestment zone), and a small amount from hotel occupancy tax receipts, ac- cording to Moheet. The debt service payments made during the second-quar- ter met the amounts outlined in this fiscal year's budget. Debt principal payments paid down Kyle's Limited Tax Notes Series 2009 and the Gen- eral Obligations Refunding Bonds, Series 2009, by $800,000 and $555,000, respectively. Second-quarter debt interest payments paid down Combina- tion Tax & Certificate of Obliga- tion Series 2007, Combination Tax & Certificate of Obligation Series 2008 and the General Ob- ligations Refunding Bonds Series 2009, by six-figure numbers; the interest payments also helped other city issued debts Including interest, Kyle's debt is just shy of $94 million - $66.72 million in principal debt and $27,056,580 in interest. Kyle's Total Outstanding Debt as of March 31,2013 Type of Debt General Series 2009 Certificate of Obligation, Series 2002 Certificate of Obligation, Series 2003 Certificate of Obligation, Series 2007 Certificate of Obligation, Series 2008 Limited Tax Notes, Series 2009 General Obligation Refunding Bonds, Certificate of Obligation, Series 2010 General Obligations Refunding Bonds, Series 2011 Obligations Refunding Bonds, Series 2013 TOTAL Total Principal. Principal Interest & Interest $225,000 $3OO,OOO $7,255,00O $20,915,000 $2,560,000 $14,080,000 $4,290,000 $3,375,000 $13,720,000 $66,720,000 $4,107 $5,579 $2,679,100 $11,980,622 $170,212 $3,978,150 $1,555,514 $664,324 $6,018,972 $27,056,580 $229,107 $305,579 $9,934,100 $32,895,622 $2,730,212 $18,058;150 $5,845,514 $4,039,324 $19,738,972 $93~776,580 by$ BY ANDY SEVILLA news@haysfreepress.com Hays County's overall property value increased 5.1 percent this year, up from $1503 billion in 2012 to $15.8 billion in 2013, largely due to multi-family residen- tial properties. More than half of the increased value - $412 million - came from more than 1,600 new improvements added to the appraisal roll, according to a Hays County Appraisal District news release. Residential multi-family property saw construction, largely catered to Texas State's students, has boomed in recent years in San Marcos and a drive along In- terstate-35 within the city limits reveals several developments near completion. Commercial and industrial property also increased in value, taking a 7.5 per- cent jump from $1.47 million in 2012 to $1.58 million in 2013. The average mar- ket value for homes increased by 1.9 per- cent across the county, from $163,005 to $166,167. Buda's average home value was nearly $40,000 higher than Kyle and San Mar- cos, according to the appraisal district's thebiggestincreaseinvalueby34percent, figures. A home in Buda in 2013 averaged from$649miUionlastyearto$872million at $163,845, comparedto Kyle's $126 437 ni~vv. "Th~f~lease Said that this increase and San Marcos' $123,157. was due to new construction, completion The Hays Central Appraisal District will of new apartment projects and a strong begin mailing out 76,528 appraisal notices demand for multi-family housing, on Wednesday. Property owners will have In Hays County, San Marcos has been until May 31 to protest their appraisals. the poster child for increases in multi- Last year the appraisal district received family residences. Apartment complex 7,549 protests. The average home value of Hays County, , and by District, are as follows: 2012 2013 Hays County $163,005 $166,167 Hays CISD $131,078 $133,768 San Marcos CISD $129,583 $131,340 Dripping Springs ISD $267,343 $273,584 Wimberley ISD $195,793 $198,645 " cry of San Marcos $120,280 $123,157 City of Kyle $124,981 $126,437 City of Buda $160,398 $163,845 new car sa in STAFF REPORT in the first three months of the year, Korea- and Japan-based brands, local Sonatas in Montgomery, Ala., all of amounting to 69.8 percent of 1,046 sales of domestically manufactured those sold in Hays County were im- Automobile companies headquar-new cars bought during the period, (517) and imported cars (529) were a ported, according to Freeman's data. tered in Asia - Hyundai, Honda and according to the Freeman Auto Re- nearly even split. Truckbuyers, meanwhile, preferred Toyota - accounted for seven in 10 port, a Dallas-based company that For example, 67 percent of Hon- Ford (215), followed by Toyota (114) new passenger cars sold in Hays compiles vehicle registration data. das and 51 percent of Toyotas were and Chevrolet (75). Nearly 78 percent County in the first quarter of 2013. Chevrolet was a distant fourth with assembled at one of those Japanese of new trucks sold in Hays County Local dealerships sold 319 Hyun- 74 sales, companies' U.S. plants; although were manufactured in the U.S., ac- dais, 270 Hondas and 143 Toyotas Despite the dominance of SouthHyundai manufactures Elantras and cordingto Freeman Auto Report. Hyundai Honda Toyota Chevrolet Nissan Ford Dodge Buick GMC Jeep Chrysler Volkswagen Mazda Porsche BMW Other Subaru Acura GEM Infiniti Mercedes 219 319 74 70 m ll 3 2 L12 32 tl 1 1 3 1 I March 2013 2013YTD i 0 100 200 300 Ford Toyota Chevrolet Peterbilt Dodge GMC Kenworth Mack Ram Nissan [ntemational Volvo 114 75 ==.= 29 29 ,= =11 01 March 2013 2013YTD 0 100 200 300 Be aware of the need for disability FINANCIAL "t probably doesn't show up on your calendar, .but May is Disability In- surance Awareness Month. And you might agree that such a month is useful, when you consider the fol- lowing: Three in 10 workers entering the workforce today will become disabled before retiring, accord- ing to the Social Security Administration. At age 42, you are four times more likely to become seriously disabled than to die during your working years, according to National Underwriter Life & Health. Disability causes nearly 50% of all mortgage foreclosures, according to Health Affairs, a health policy research journal. Given these statistics, it's not surprising that the Life and Health Insurance Foundation for Education (LIFE) sponsors Disabil- ity Insurance Awareness Month to encourage Americans to address their disability income needs. Here's the bottom line: You can be really good at budgeting your money and you can be a disciplined long-term investor- but unless you've protected at least a reasonable percent- age of your income, your whole financial strategy is incomplete. And all your goals, such as a comfort- able retirement, could be jeopardized. Of course, you may not be totally unfamiliar with disability income insur- ance; if you work for a large employer, a group dis- ability policy may be part of your employee benefits package. If so, you should certainly accept the cover- age, which may be offer- d to you free, or at minimal cost. However, this cover- age might be inadequate to replace the income needed to allow your fam- ily to maintain its lifestyle without dipping into your investments. Consequently, you might need to think about purchasing an individual disability insurance policy. Here are some tips: Look for a policy that is "non-cancellable" until you reach age 65. When you purchase a non- canceliable policy, your policy premiums can't be changed, provided you pay See FINANCIAL FOCUS, pg. 3D -k