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NOTICE OF SALE
AND
BIDDING INSTRUCTIONS
on
$4,500,000
GENERAL OBLICATION BONDS,,SERIES J"9
and
$4,00,0001
WATER AND'SEWER MUM REVENUE 860S, SERIES fog
,
Cf P' of UENTON, TEXAS,
i; f iif r,7'}~~U,', ~Y a ~aich).¢Yf)~1 ell re.~`~ J .~'F V~ y~1}1w or
i t ~
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Place and Tinte otsa/f,,, pe pity Cott ACII of the,cftY or '-pign, D. , n Coufttyr lesa>F, Wtplle4Yiv,r
scaled bids at the City Ha l until 7:00 PM, CST, huesday, Match d, 179, for the above bonds
"Bonds"), chore eAnpletely descri>:sd hi tho Officlal Statements; which ard'a part hereof, Action%*ill be
taken immediately by the City Council either to accept qr reject the best did,
Address of Blds, r Sealed bids, plainly mar! od "Bids for Bonds", should be addresjwd to 1'Mayor and
City Council;, City of Denton'; Tekis"; All bids ,must be submitted on the Official Bid Fords, coples of'whlch
are enclosed. . . r r .
Type of Bids and Inte'r'est Rates. The Bonds will be sold In two separate blocks: (1) $4,500,000 General
Obligation Bonds, Series 11979; and (2) $4,010,000 Water and Sewdr System Reven6a Bonds,.Serles 1979.
Bids submitted must bo for all or none of each of the blocks bid upon. No bid of less than par and acctued
interest will be, considtnxi: Bidders must spaxiry the'rate or rates of interest the Bonds twill betr; but no
coupon rate in excess of R% will be acceptable. Coupon rates must be in multiples of 1/9 or 1% And 1/20 of
I% Thespread berweert the highest tnterrst rate bid and the loxrlt Interest rare bld,s.Sall not exceed 2%.
Within a single maturity, there shall be no gradosting or declining coupons or'spho, rates, and'no
sutle'r.~nial cou ns will be considered. All bids must be submitted en the Official Bid Form, without
aletallon or'int'er~'eati6r~
Basis for A%,ard. Pot the purpose of awarding the Bonds, the interest oost or each bid will be'co.nputed
by determining, at the raid or rates specified therein, the total dollar value of all interest on the Bonds from
the date thereof to their respoctivt maturities, using the table of Bond Years herein, and deducting therefrom
the premium bid, if any, The Bond's will be awarded to the bidder (the "Purchaser") whose bid on the Above
compul ation produces the. lowest interest cost to the City, in the event of an error in interest coo calculation,
the interest rates speciled in'the Official Aid Form will be Considered as the rtorrect bid.
Good Faith Deposit.' A Good Faith Deposit, payable to the "City of Denton, Texas", in the amount of
2% of the par value amount of bonds bid upon, Is tequiredr Such Good Faith Depb+it shall be in the form of a
Ca3iiW's Check, or its equivalent, which is to be retained uncashed by the City until the Bonds art delivered.
Upon' delivery and payment for the Bonds, this deposit will be applied oh tht p; echase price of the Bonds, or
returned to thb Purchasers; whichever they direct. In the event the Purchasers shouhi fail or reruse to take up
and oy rot the Bonds ih accordance with their bid, lko'-ald check shall be cashed and hecfptdd by the City
as rult and complete liquidated damages. The Above metttlot6d check'triay accor'ripanythe orkiat Bid Form
of it may be submitted sep alat'lfy; I r subMllted sepsratelje; it shall be rriade'svailable to the City prior to the
opening of lhebuts; and 0 All be acebtrthanidd by init'rticli6ns frolrl the bank on wh.:h drawn which"ebthoriA
Its dst'as'e (Ildd Faithvep6sit'by'thd'PohAaseti4h6 shall be himfd In such n;dN606h efreclts'"bf
unsuccessful bidders wrii be returned to such bidders after ththI96 bid H''dd6rIii1W:' )"'y 0 '"•i"'
.~~n r 1 ,1 et ,A Mr.'s .r it d 77-T ,Y... il. , I;., + ,,1
Y
f"r., k ° + 0 5~
Printed Bonds. The City will furnish printed BoWs'on lithographed borders, which will have Imprinted
theram the facsimile signatures of the Mayor and City Secretary, pursuant to Article 717j•1, Vernon's
Annotated Texas Civil Statutes.
CUSIP Numbers. It is anticipated the CUSIP indentification num*,trs will be printed on the Bonds,
but neither the failure to prim such number on any Bond nor any error with respect thereto shall constitute
cause for a failure or refusal by the Purchaser to accept delivery of and pay for the Bonds in accordat, a with
the terms of the purchase contract. All expenses In relation to the printing of the CUSIP numbers on Salo
Bonds shall be paid for > y;ihe issyynr; provided, however,.-hut the CUSIP, service, Bureau charge for the
assignment of said numbers shall bt the responsibility'of and shall be pald (or by the Purchaser.
Legal Opinions. 'no Bonds are offered when, as, and if Issued, subject to the Unqualified legal opinion
of the Attorney General of the State of Ttxas',"Ad Hubei. McCall, Parkhurst and Horton, DOlas, Texas
see Legal, Q in o n OfGc(1 $ 6 fm n4); Th n on,vtill l;c. primed,, on.tgjP5ndj.,I I t l?
Delivery. Delivery of the Bonds will be made at the expense of the City at any bank In Austin, Texas. It
is anticipated that delivery can be made on or abM April S, 1979, and it is understood and agreed that the
f'urrhastrs will accept delivery and,rrrQQkt,payMenf fgr Ao OP941.fn(lnimedletely available funds to the City
on April J, 1979; or tff~rere Ite,r th d Se the rids are to!ndeked for delivery, ppp
the Purchasers me , to knd inclyding April 26,
1919, If for any reason 9 "is (lfid~ld to lb1' the ~olNf' for'detivef~ OMOt' b Yore Aped 26, 19790 then .
accept deliver thereafter at thelr fd tlQn for on additi na14S days The Purchasers will
v ,
be gi~eii five' bulinffs a e 662 of the. linte'flxed'or dell`Yvy of thi ~ondt),
i i: ( i•.r',, I 'Id,~:"t,f -,r~11A1, 'd 1. ':Ct "i tt.,i Y) iii' 1 i t{
Issuance olAdditioxpl Sondl. ~The,City does not prutittly plan to issue additional bonds before 1981;
Responsibility for Qualipcatlon 4 6ndJ for Sale in Respective Stares. The it assumes no
responsibility for qualifrcatiott of the Bondi under the securities laws of any furisdietiorf fn which the Bonds
may be sold, assigned; pkdged; hypothecated or otherwise transferred, This disclaimer of responsibility for
qualification for safe or other disposition of the Bonds shall not be construed as an lntctpretatloh of Any kind
with regard to the availzbility of any exemption from securities registration provisions.
Ckange In Tdv Exempt Statut. At anytime befete the Bonds Are lendtfed for'delivety, the Pwchaser
may withdraw his bid If the Interest reoeivtd by'private holders from bonds of the same type and characlet
shall be declated to be taxablo income under present Federal income tax NO, tither by ruling of the Internal
Revenue Servict or by a decision of any Federal court, or shall be declared taxable or be required to be taken
into account in cobtputin any Federal income taxes; by the terms of any Federal Inconie tar law Macted
subsequent to the date of this Noticeof Sale and Bidding Instructions.
Ratings. The outstanding Oeneral Obligation Bonds of the City are rated "A I" by Moody's In,ve;tors
Service, Inc. and "A+" by Standard do Poor's Corporation, The outstanding Water and Sewer System
Revenue Bonds are'rated "A"' by Moody's and "A" by Standard do Poor's. Applications have been made to
each of the above rating agencies for contract ratings on the General Obligation Bonds, series 1979, and the
Water and Sewer System Revehue Bonds, Series 1979, now being offered. Tht results of their determinations
will be provided as soon as possible.
Addaloial Copies o Notice. Bid Form and Stutement. A limited number,of additional copies of this
Notice of Bond Sale and Bidding Instructions, the Official Bid Form and the Official Statements, as
available over and above the normal mailing, may be obtained at the offices of Fir,l Southwest Company,
Investment Bankers, 900 Metcantil! Bank Building, Dallas, Texas 75201, Financial Advisors ro the City'.
The Official Statement. The City will furnish Iv the Purchaser, without cyst, 50 co; iur of the ,official
Statc.acitt (and,SO copies of any addenda, supplement or amendment theretcl, complete excfpt as V "Interest
rates Pilo other terms, relating, to the reoffering of the Bonds. The'Pq;rhaser may arrange at his, awn expcnsc
to have the Official Statement reproduced and printed if ha requires more than 50 copier, ant may alo
:rrnnge, at his tolsi expense and responsibility, forconlpletion and perfoction of the first wcover page of the
official SCatement so as to reflect I,nterestrales and other terms and information related to the reoffering of
the flonds, The City assumes, no.responsib4ity,or obligation for the distribution,or delivery of any of these
coplca to anyone oth,4f,'tlian thS, P,utchaspr. '
I I
r yY 1 t ,1'±X
y rA J
PINY,
Cerli leallon of Official Sr-ifement. Al the time of,payment for rad delivery of the Bonds, the
Purchaser will be furnished a certificate, executed by proper officers, acting in their official capacity, to the
effect that to the best of their knowledgeand belief: (a) the descriptions and statements of or pertaining to the
City contained in its Official Staietnent dated Febidsry B, 1979, and any addenda, supplement or
amendment thereto, for its 54,500,000 General Obligation Bonds, Series 1979 and 54,000,000 Waterworks
and Sewer System Rctienue Bonds, Series 1979 on the date of such Official Statement, on the date of sale of
said Bonds and the acceptance of the test bid therefor, and on the date of the delivery, were and are true and
cone,;t in all material respects; (b) insofar as the City and its affairs, including its financial affairs, are
concerned, such Official Statement did not and does hot contain an uplfue statement of a Material fact or
omit to statea'material fact t4lred to be stated therbin or necessary to Mate the statemchtid,•rein, in the
ilght of tlhe,etttumstances under ~vhlca they were mhder not misttadin'J,'(c~iosofar as the d*riptions and
statements, WItiding financi'a( dpta, of or pertaining to entities, other t 'an the city, arid'deir activities
contained in'luch Official Statement are concern!d,`sud.l statements a'hd data have been obtained from
sources which the City believes to be reliable and that the City has no reason to believe that they' are untrue in
any material respect; and (d) there has been no material adverse change in'lhe financial condhik'a of the City,
since Septeirtber 30, 1979, the date of the last audhoA financial statements„ of the City.
f) ,b I ~ t•fi;
Not ali Offer to Sell, This Notice of Sale does qot Woe constitute an'offer to sell the Bonds, but Is
merely notidr'of the sale of the goods. The offer dead: the goods is belog made by meant of the Notice of
Sale and Bidding Instructiontf the Official Bid Form and the Official Statement, Prospective ~~44rchasas are
urged to cQfefully examine tho Official Statement, to' determine the investment quality of tale Bonds.
The City reserves the right to reject any and pal bids and waive irregularities, except time of filing.
On the date of the sO th~, City Council will,;"Iby resolution, g rove tfie form edQ ntent of the
Official Statement, and any addenda, supplement or amendment thereto, sits authorize its fort er u<e In the
reoffering p1 the Bonds by the Krchaser. ;
JOE M17CIIyIELL
I f l ! I , ! ? Alp, I /
City of Denton, Texas
ATTEST
BROOKS HOLT'
01), Secretary
City of Denton, Texas
February 15, 1979
Iii
red, 7eT777 L 07 77, ~ T,,t
J ' n + , F 'Mp d , rj , .d~ dgrN a+#r " ~ 4 ';~V „ran 7 a-. F . f., D
S, r•_i S 4
BOND PEARS
$4,300,000
GENERAL OBLIGATION BONDS, SERIES 1979
Pf"ll eat Ac o"Slld
Ynr Amomat Yc_ an sow Yeus Year
1981 $225,000 450 450 1981
1982 225,000 6`5 1.125 198 , ,
198. 225,000 0% 2,025
1984 90000 l lit 2 8-3,
225,
,r • ,198~, - X25,000, 1,35q ' 1~~ s' • ' f ,•~In ~ 4,;~,. , I 0,
1986 225,')00. 1575 r ¢5 01.073, 1987 725,000, 1,609, 7,873 198 .
1988 425,000 2,025. 9,900 x,19,8 .
1989 225,000 2,230 12:150
19$9
i 990 + 225,000 2,475 14,625
r
1990.
!1991,- -;,7,225,000' , { A:>7f~ 117325` 1991,,
Y, ~19921
1992 , t , 2?5,000 , c , •,!?!'i ~ 2,926 t >1 x;120.250
,
~t 1993 223,000: 3,150, i :.23,400 - i' i 990
t99a 22$.000 3,375, 25.775 1994
1495 25 (00
b 3 bG0 ' 30,375' ' • . , 1993,
'
x825 34,~OQ 1996
19¢7 000 " 4:0 ~j
r , 3~,~Sb' ''1999 ,
1~9 225r ,000 4.2'15 4 25'• ' Z$
1999 225,000 4,500 '41,015 1999
='000 :15,000 4,725 51,730 2000
Average Maturity ,,,,,,,,,,,,,,,,,,,,,,,,,,,11.500 Years
$4,000,000
WATER AND SEWER SYSTEM REVENUE BONDS, SERIES 1979
Prlncrpal) Bond Amirwialed
Yar Amovoi Yeen and Veers Ynr
1961 S I00,000 233.333 233.333 1981
1982 100,000 333.333 566,6,64 1982
1983 100,000 433.333 999, 1983
1984 100,000 533 333 1,533,332 1984
1985 225,000 1,424,999 2,939.331" 1985
1986 225,000 1,649,999 4608330 1986.
1987 225,000 1,874.999 6,483.329 1987
1988 225,000 2,099,999 8,583,328 1988
1989 225,000 2,324,999 10,908.327 1989
1990 225,000 2,549,999 13,458,316 1990
1991 225,000 2,774,999 16,233.315 1991
1992 225,000 2,999,999 19,233,324 1992
1993 225,000 3,224.999 22,458,323 1993
1994 225,000 3,449,999 25,908,322 1994
1995 225,{100 3,674,999 29,583.:21 1995
1996 225,000 3,899.999 33,483.3A) 1996
1997 225,000 4,124,999 37,608.319 1997
!948 225,000 4,349,999 41,958.318 1998
1999 225,000 4,374.999 46,533.317 1999
2000 225,000 4,799,999 $1,333.316 2000
Average Maturity .........................12,833 Years
iv
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4dnoreblc Mayor and ,iy Council March 1919
Citv of Denton
~ry
Denton, Texas
~ I rT ~f111ek1)`~1', f y'14~ i ~ ~ 1 f 1 h •'c ~ ~ 7 'e. i i
Riferfncc Is made io your'4otice of Silo and 'Aidd{ng instructions and Official Statements dated February {S;,
1979, of $4,000,000 CITY of DENTOA, TEW WATER AND SEWER SYSTEM RLveNUE BONDS, St HIES 1979, both of which
constilute a Pitt hereof.
Pet , your legally Issli ! bonds, as descrlbWn sold Official statement, wo will pay you pht;`apd accrued interest
s fus. remium of $ , for Bond rrR turin bdar;n 1 tt d4
tr~ d 0004-to djaRo~.' 1 { v t P
'I y g~i•,6 t a 3
N~ . ~ I 1 0'.:.• i, ~ ,.l~~p yI Yet. qI". ~
Alnoaal ..{si. fit- 1 :,a Rife • AiwWM 'Ms k I*0010e A"M MA104 IfWMR,u•,
C. r f .R r . ,
X10,01000 , "i•IS-l9$I ` 215,000 7 0
~{988k t S~2S,QOQ 7.15.1995 _ _f
WOW It $119$2 , .96 2 DDVfr 111 S ~9 4 FS' ~'~`~2~ ~:1~• f X46
+i~•I: •i9d1i 4 1 ' 9~ ` +U ` , ~15•`t991
WPSI
J f A *a R r
S•l9 b. ,1 0w 7• .Y._46 • X 25 ,b00' 7~-2t~'',"~6 t•'
y t, I
7+1 S• l~$+,, ?~^--•-:-'-9~ 225,0 Q 944
t
t" N9t itilerat eQst liiiF efttiv9 irliZrest,ttt4e, which is tnfq(it onljr ahd nitr,pf t ab§v,kas faiEtt4vs
;:(9TyYpsnietgst t,Yb4. H•IIYN.SN„,~~„If.,S YY It+ •I, 1•.~1 n,!•.(IYnI ~.r.Y1iYJa.--'^ I ,
4 Ire Pre
a'r INt~aEStCJST„
FFiCtIYE~NIf~41T
pur ,...,..r,, Y,..,,.,i,,.,„,Y'Y.r.r..,.,i,..~:'....•.a-~---•+~ ti}
wChec'of}tte .~s~..r~~...•~ .:::..:811nk,::
'the imougCof S8f?,000.Od, whlc~i .';+r4lenfs Good paftfi De psis (1 M}lacli~d hereto) of {hqe b'ttp adOveilable tq
you priof to the openthg of this Old, and is'subinltled irti accord nix wit the'terms M set 1163 fr in isid P ciaf St tem
ent '
'Ar O N$o~tlsre''af_Sale "and Oldd~ng )nstruction~ upon delivery of the 4ttds,.,l1id ch~cIt s,ha1l %)e deduct, 6 f"' the
om
W4'agre o x p~~effvuy [ a^d m44e ay
t menl fo, $So Bonds at q r
NO '`Au'stip,. exittf, 8B'Apti1 S; 141st, a ther'tai~er bn tie date'ihe 9Crids erd W&rv far de ry, iurstiaht to the
terms'tot forth !rY the Not" of Sale and bidding r! t= atrackioas.:
fl t r
Reskcirully~submided,
y M 1.r
. r
"~'s° ' ' .1pr~,~►lr~d Rrprearxlvrlvr ,
*CEl1tf' ANCE CJ AIJSP*
The above and foregoing bid is heteby fM ap ihin'es aecepl8d by the City 6f Denton, Texas, this the•Gth day br
Match," 1979, , a
11
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~w o fir 1V ~ ~ ra •i ~~r ~ h ~ 947 T1~'11A~ILD •l~I~ r ~•.1~~~Y' ~1"''r~t A i. i 4 'q ~ . i~y~
n 1. e
r,~..', ' , ~~St p. ,.-,r ~~fCb YrE~ ~.~,5^y~~M'-rf ~ ~ . i
1~, ~ } /1OVncil
y
k nor@ble Mayor 66 Cit C
Cit;;of Denton
Denton, '`tias
(letNlrnen
RCiErtni is made to our O`tiod 40AS WATER N b Ssa EM SY f+ast Rk EN6U ~1 S~SSSt11ln~;td9+^~t htwhlcri
1979, of 54,000,060 City of
cantlitute a pairt hereof. ot , 'rand accrued interest
fob Bonds rr,e~lYpt r, qnd cared Interest
gr dour legally Zsaued bl vefy io us~blus~a cash pI mlurh of S..... 1, we wit pay Y i
a aie of d4
rfi It~lr di.OVlwi~~~sµ tQ 4~~ a 1~~i r .r,', irpd` °v 4 ~~~t~EK~~~r~' ~~,~r+ifY'7+t" 1 ~X Ih~S ~yt.
'~ert++psis APIa' ~ h~~ °~r ,4:; b ,l~» r ° ~ .r,
2 - r
~ 1 '1y ,$2 Is Ow 1~'1 S'I900° .+2Zi t7V17 7 1.+t/IS 4.~~w--
S 1 00,000 7•i sb ('1' 19SI6
! 000 7.1f•i4~9 051000 iS+t997.*96
Io9,ooQ, 7•IS((•i982, + . 'fS~OCO .•,'l, lYt4gp -^~,---9p6 23,000
%
~1l~tly}~ ~7% a lik991 a T~~r+7yo iw ,7 1! 1~
~g .
t7'~ •15't 7 r a
9ilb
4
a"C ltd. i1 as foltdKi: 'h,
1 ~41;7 hot } the et
hic~t i`s igfotmWve bnfy. dd, ~1 #Nrt p,
a
nt(niereat'rai~ w
` into e;obi ind'cffect+v
r ~ , . c •i , t ~ s, n ..NU4,.1 EY i S. t f
f..•.
X11 tl, a)............
%
NatTS COST r
BFFE t.y~ENigitnTWhirl! x ,
E , Ghosk of the E kith De bs;i ( ~i itched herk`8) o6 (h been rnadtrsl v tie ~:ehiJ}
H..
the a ! 4Erc S 4.,
m"'~" "ounf 3gQ~p00.00, wh~C~+ rpteiraltl out'dood p. a~ u
In of tilts bk1), and is sub ltd In accotJtnoa.with the terms to let rbri~r in its
iF
01 print to the open g ~ ~eLvi of the Bonds, Said chick dt.e11 be dad c(tld Ererr ) be
f Sale add $iddin; Initructioni, n~ , $ a x
0ursUat to the
yye Mgr t eoeptdelier oCtnd ma a payment Xo~ the Bonds et, ~«---~y tdr detiXe6Y n
. , ` 4 are lendetQd ,
1979 thgte (ter on tie daie t'% $opd.
~ank~ Apilir}i rEo ps; 04 p~1)~ ,
terms set ~th.ln tht Notice of"al rand $iddi't Nlritci
1
Iteepectrully iubmitted;
Y.
# v. i
Rrprrtrnta+thr
$y Authorized
tY , r
x AC~~MANC~.~~(,ALSSE ,
• ~ ' y
+ 'the above and ,foregoing bfd is he'rebY ill gl1 thinr~t tcce~led b}~ the city of Denton, "t,exas, this the 6th rlay of
t`74.
match.
AptM91 ; Mayor; CO. of Prokme 7exds
` .~..~--Cliy', sigrFetary, Cloy of Dfliton, Texas
*"too
~Mkrbt hoodF?aith Deposit * hereby ttkr10Ao4g0,d:
$y
.
y. ,
J
OFFICIAL HID FORM
OF DENTONO TEXAS
1$4,503,000 GENERAL O
BLIGATION BONDS, SF;RIES 19791
Ilonorablc Mayor and City Council
city of Denton March 6, 1979
Denton, Texas
Orntlemen:
Reference is made to your Notice of Sale and Bidding Instructions and Official Statement, dated February 15,
1979, of 54,500,000 City of DENTGN, TEXAS GENkR/ 0811GAT►GN BONDS, &Riks 1479, both of which constitute a
part hereof.
For your legally issued Bonds, as described in said Official Statement, we will ay your p
from de!: of Issue Iodate of delivery to us, plus c cash premium of s......•,•,,,,.,, for Bonds maturing end bearing Interest
as f4firo ~rs:
Amount M1I rtry Inleres!Role
Amount 11fsWritr laleresrpate Amount
S225 000 - rlsfuritY Intern) Relr
15.1981 % $21251000 3113.19SR %
225,000 3.15.1982 225,1 G3 3.15.1989 ;225,000 3.15.1995
223,000 3.15.1983 225,000 3.15.1990 225,OW 3•IS•1997 q6
125,0W 3.15.1984 96 223,000 3.15.1991 223,000 3-IS 1997 ~
223,000 3•IS•1985 2259000 3•15.1992 - 225,000 2.13.19411
225,000 3.15.1986 225,000 3•tS.1993 % 223,000 7 13.1999
22!,000 3.13.1987 225,OM 3.15.1994 223,000 3.13.2000
Net interest cost and effective Interea'; rate, which Is informative only and not a part of the above bid, Is as fo,~:nws:
Gross Interest Cost .
Less Premium !i
NET INTEREST Cost
EFFECTIVE INTERks'r RATE
Check of the - Bank in
the amount of $90,000,00, which repro<ents our Good Faith Deposit (is attached hereto) or (has been made available to
you prior to the opening of this bid), and Is •ubmi!ted in accordance with the terms as set forth in the Official Statement
and Notice of Sale and Bidding Instructions. Upon delivery of the Bondi, said check shall be deducted from the
parchase price.
We agree to accept delivery of and make payment for the Bonds at _
Bank, Austin, Texas, on April S, 1979, or thereafter on the date the Bons are ten- dcrc fur delivery, pursuant to the
terms set forth in the Notice of sale and Bidding IiAtruclions. -i
Respectfully submi!led,
BY
Authorized R rrrep enladvt
ACCEPTANCE CLAUSE
The above and foregoing bid is hereby in all things accepted by the y
March, 1979, Y City of Denton, Taas this the 6th day of
AT r Is-t: Alayor, City of Denton, Texan
Crty, n", •retary', 011, of Denton, Te.r;aa
cesse• t
Return of Good Faith Deposit is hereby acknowledged:
By
1 7 7 9 7 a, r.
OFFICIAL Bib FORM
CITY OFI)FNTON,TIFXAS
($4,50.000 GFNF.RAI, OBLIGATION BONDS, SERIFS 1979)
Honorable Mayor and City Council
city of Denton March 6, 1979
Denton, Texas
Gentlemen:
116erenee is made to yo,Ir Notice of sale and Bidding Instructions and Official Statement, dated F';bruary 15,
1979, of $4,500,000 CITY OF DLN TON, TEXAS GENERAL GaIfGATION dom)S, SFAIFS
Part hereof. 1979, both of which constitute a
For your legally issued Bonds, as described in said Official Statement, we will ay par and accrued Interest
from date of Issue to doer of delivery !o us,
as follolos; plus a cash premium of s for Bonds your
luring and bearing interest
Amount M1laturllY Nwreif Rate
Aawual Mafu►tfY IaterestRa;e Amount Iia.erq
$223,000 3.15-1981 * r Infernt Rate
225,000 3.15.1981 _ _r $225,000 3.15-1488 96 $223,000 3.
223
,000 3.15.1483 96 225,000 3.13.1989 - 15.1995 - _qb
96 223,000 3.15-1990 223,000 3.15.1946
225.000 3-13.1984 225,000 3.13.1991 225,000. 3.15.1997 "gb
225,000 3.15.1985 223,000 3.13.1992 ` 223,000 1.13- 1998 225,000 3.15.1986 225,000 3.15.1993 ~ 223,000 3.150 1999 225,000 3.1,•1987
~.96 225,0W 1.13.1994 223,U" 1.15.2000
Net interest cost and effective Interest rate, which is informative only and not a part of the above bid, is as follows:
Gross Interest Cost
Less Premium 5---
NET INTF.RFSTCOST .
FFIECTIVE INTI REST RATE
Check of the
the amount of $90,000.00, which represents our Good Faith Deposit I(s attachedhereio) or (has b;en made availabic to
you prior to the opening or this bid), and is submitted in accordance with the terms as set forth in the Offrclai Statement
and Notice of Sale and Bidding; Instructions. Upon delivery of the Bonds, said check shall be deducted from the
purchase price.
Nre agree to accept delivery of and make payment for the Bonds at
Bank, Austin, 'Texas, on April 5, 1979, or thereafter on the date the Honda arc t~ed for delivei
terms set forth in the Nolici of Sale and Bidding Instructions.
y, pursuant to the
Respectfully submitted,
- -
By
Authorizer/ RrnrarLt -
lhe above and foregoing bid is hereby in all 1F ngs accepted by~lhe City of Denton
F
March, 1979, , Texai, this the 61h day of
ATYI.Si;
-
dfay'or, 04 (if Do.,fon, Texas
CA1 Seepelary, City of Donlon, Texas
00!41$
Return of Good Faith Dcposil Is hereby acknowledged;
By
CITY OF DENTON; TEXAS
CITY COUNCII,
Mayor
JOE MITC0ELL 'Mayor Pro•Tcm
MARY CLAUDEGAY
gipnSdman,, ~I.
BILLNASFI............................... „ 4'.
,,,,~.,Councilrnan
RICIIARD STEWARI .
, Cou nci l% omdsr
ELINOR lIUGIIFS
i
ADMINISTRATIVk. WIdks
.I,, ' st I v I,', 1 ,
Nikmd NA 1WM1
Chrisllartung City Manager
Jack Owcu Assisthnl Ci[y Matta~r ' ~r
King Cole Assislan'" rite Manager ;
Director of Finance
"W.11. McNary
n 01
R, E, Nclson Dirtxto;<,nf Utif, iis
Brooks Noll City Secretary r'
Pau! Isham City'AttornO
10.
.r
('ONSUL1'AN'1'S
Bund Counxe~
MG(•AH,, PARKIIURST and HORTON. Dallas.Tcr"
Al.1'XANUF:RGRANT &COMPANY, Dallas Tcsas,,.,.•,••••"•• u I u.
FINANCIAL "ADY;SORS
FIRST SOIITIIWIiST,COMt'ANY.
Mcrcat.tilc Bank BuildifiltDdllab,'TtXJs 75201
0 V 7, T. -7 F
1 i 1!I ~ ~ . Al
14 11~
CITV OF DENTON, TEXAS' ?
OFFICIAL STATEMENT .RELATING TO
$4,500,000 General Obligation Bonds, Series 1979 and
$4,000,000 Water and Sewer System Revenue Bonds, Series 1979
TABLE OF C'ONT'ENTS
far
Description of the General Obligation Bonds 1
Description of the'Water and Sewer System }revenue Bonds la
Valuatlod ind Debt Informclon........................................................
........L.:.l..::.... , 2
Tax Data 3
1918 Assessed ......................................................i
Valuation - Classified I
Tax Rate Limitations
MunicipalSe!esTax.............................................................. 4
Estimated Overlapping Fended Debt Payable From Ad Valorem Taxes,,,,,,,,, 5
Tax Rates -Overlapping Subdiv+sions.................................................... 5
7o Ten Taxpayers 3
Interest and Sinking Fund Manegempq In je~t ,5.., yt I t y l • r, . 5
Antic!pated Issuance of General Obligation 9onds b
Estimmed Assessed Valuations 6
Authorized But Unissued OeneralObligation Bonds b
Proceeds G
Estimated Debt Service Requirements -General Obligation Bonds 7
Water and Sewer System Oper ~tingSlatemenr „ 8
Value of the 1Vote; and Sewer, ystem. •
City's Equity i.t the System 9
Authorized Water and Sewer Revenue Bonds
4
Proceeds
Anticipated Issuance of Water and Sewer Revenue Bonds
9
Monthly Water Rates .1...,..,,...,,....,.....,.... 9
10
Monthly Sewer Rates 1-11..... 10
Description of the Water and Sewer System 10/ 11
Estimated Debt Service Requirements, Water and Sewer System
Revenue Bonds 12
Summary of Certain Ivrovisions of the Bond Ordinance 13/ 17
Electric Systerr 18/22
The City - Location and Economic Background 23/29
Eligibility as Investments
Ratings............................................ J6
Tax Exemption „
30
Registration and Qualification of Bonds fur Sale 30
Legal Opinions and Certificate Concerning Litigation;
Pending I.
Authenticity itig gat Fin ion Information 30/31
ion 31
Constitution-l Amendment 3'/32
Certific:tivn of the Official Statement 32
Finan.ial Statements for Year Ended September 30, 1978'..ti ~ Appendix
The cover page hereof, this page, the ap*diA ititluded herein, and any addenda, supplement or
amendment hereto, are part of this Official Statement, „ r
M { 2P
"VITP C.7
♦u~j~ iK. }c~'~ ti5.pr,1i rakr V s a7ff~ iv'"v', 411~f,
ti.p,~ty(fr
''i y'r r•ho Ir"v /,~0' r dUtr,rd T"" . «~':~r bt"!' 4 ~ f';°.3' f, Sa . ~
burr ;v~ w~°. Jwc1'df Or lrh!M1{h o}`ei fP:rl~o to
o F
a4! to h' nJ*l+ylsd
'Conn ,1' : i. z d~v y Inj00max ' M or n► dkrlad NO degr/t, ►olef,r} ' ~ ~1laA `o, t+,ly ptrivn ro .
of rht~ ` cihdr, b 'J' tejueiter►rri¢y +~Ihte rhQ arty o1J~Ir pt
3 ' `r ;r ! ''orma►lo ,~tAt►r #kdt; llralr "or Mh~hGrtrT ►~t:T~ r
:'r~ ' ?"'c~rcumr}' ".Phr de~klj ollhTs.fjjrla.5i,:ditrrtfopfnnlr<CfleybHwlnrrt~rti4n►Gllo'y/lfrlr
rs,rnalrartylm t►nenr'nor ary JSIr JItolaNtei~frhorrrnolfce
i.. _ hPreaj Plkallrin that rho' %ras bran no ch6n8a in rh t a/n o r r aha/l, rrndH Any
jj jrh< C!►y r/ncr tbt
. ►b. T. dare
> O
~Isal SGtfetgc4t
Z ebr`wlr'y 15,1979}
INTERESirt. t )ER,PT, IN
T/!E OPINIO
INCOME N OF BONA UNSEL, F
F 1IERAL T XES 1SrjCONt3 E ~.OA! ARESE'Nr
r ' ' ~°REOUL,aT "it r<< ANS. RLINCSAND UNDER EA0 '~r TE~Sx~ ~r Y~. URrProszog"
NEW ISSUE
~'y 1r
CITY '500'
Q DENTON
S
p y~y/ A } , mif EXA
Li111' a,l; ' „y F '•r Y
i,
Pr.hcIP4 and st mi-#h ;vq " { goalnatloe• SS, r
~j o00.
N i'%t,]1lba N i Y 13 tip WOO, f1j pa S`~'`
, Ya k at r
MW : h}ev.York
1Sta1Inlrt ~yu No fs"14;4~j+ttT ,
~'^'Ipon fitarri'de h1:rc~ 1S.°19go.
o.
Security jot P 'nrrnr. Oil not
1`hese c
ftd ad valorem la levkd (Snslitp(e dir and
"f Honda alnrl will ect oil taxtx6k gtnefel obligrllon
a of the city
IMope , Pays*
if localdd (herein. in thelimits t+rescri
''r r
wwx MA? UTtf? Y by tuiv,
; ~C1iEb
2s 0pq M ch f 1981 Rah %kW .10
B~ch' Y~; 1982 ZS,000 Marsh 130 1991
SApO M&Fch,iS; 1983
3S,00o Marcb 1S, 1992
S,i1000 Q,. % A r - fl ,1984 223
21: • 'Watch 150 198S ,000 March 13 19930
115,000 March 15,19$6 ~V 11S,OOp March IS: 1994
rr 1h,000 March 13 1987 325,009 March 15,1995'
15,OUO hlatI 1S1488 313,040 March IS, 199,6+
}23,000
5,006 h1
M" 1g~ 1989 313, '~rch IS,14970
000
Mara, .5,1998•
223,000 March (5,1990
213,000 Me,
113,000 c
March hS,1999•
` 'Bonds maturih 15, 19990
# ps►t, on Mptch' "3,' 1491, or Any 1443 through March 13 y lnlelespaYment date thereher, atustvl, are par and acrru redeemable, in *hnk of in
f,
pgf it .-yrrn► R~`crtd' l~;e raty has never defaulted. interest.
Le8,1l i AltorneY (Ienrisl of Measrt 11, Parkhurst afid loon ~C A Staff tore}Texas, and
~ka1 ppinlon Printed on the g nds,) faY, 7ecai.
Defi; rr ,
1 Anticipated on or about April 3, 1979,
."k.N'I
t a X 'rya t-hi ah<r 3 4 r 49 X a r Sw t: i
iA r , i 4
7*11 fJj11r1a! Srotentenr does no! consrlturr an offer to sell Bonds in any furladiction to any person'to
whom It to utda%ful to make such offer fn such jurisdiction, No dealer, saSitnan, or any other: person has
bran authorized to give any information or ntake any repr,,entatlon, oAtr than those contained herein, In
connection slth the offering of these Bonds, and /,'given or made, such I nformatlon or representation must
not be relied upo:r. The information and expressions of opinion herein are svbfert to change without notice
and neither the delivery of this Official Statement nor any sale made hereunder shall, under any
circumstances, crease any implication that there hog been no i hinge in she afjalrs of the City since the dare
hereof.
Offit.ial Statement
(Dated February 15,1919)
INTEREST L',1'EMPT, IN THE OPINION OF BOND C'OUN-'El., IROM PRESENT
FEDERAL INCOME TAXES UNDER EXISTING STA7UTES,
REGULATIONS, RULIl+GS /.ND COtI'T DECISIONS
NEW ISSUE
A REVENUE BOND
$4',000,000
CITY OF I)ENTON, TEXAS
(Dent+ qCounty)
WATER AND SEWER SYSTEM REVENUE BONDS, SERIFS 19'19
Dated: March IS, 1479 ' Denomination: fS,000
Principal and semi-annual interest (January 15 and July 15) pt,,,abY at
Citibank, N.A., New Ycrk, New York,
or, at the option of The holder, at
first V40 4, PRO in l)allps, Dallpsi TC?qs~ I
First interest coupon due July 15, 1979.
Coupon bearer bonds, not registrat,ie.
These bonds, authorized at an election held May 16, 1972, will constitute special obligations of the
City, payable both as to principal and interest solely from and secured by a first lien on a pledge of the
revenues of the Water and ScAer System, after deduction of reasonable expenses of operation a,,;t
maintenance, as provided by the General La%ks of the State of Texas, particularly Articles I I i I et seq.,
Revised Civil Statutes of Texas, 1925, as amended.
MATURITY SC'HEDULF:
ARrount Maturity Rite 1'kad Amount Maluilly Rite lkW
6100,000 July 15. 1981 6225,000 Juiy 15, 1991
100,009 July 15, 1982 225,000 July 15, 1992
1t10,000 July 15, 1983 225,000 July 15, 1993'
1 U0,000 July 15, 1984 225,000 July 15, 19940
225,000 July 15, 1985 225,000 July 15, 1995'
225,000 July 15, 1986 225,000 July 15, 1996'
225.000 July 15, 1987 225,000 July 15, 1997'
225,000 July 15, 1988 225,000 July 15, 1998•
225,000 July 15, 1989 225,000 July 15, 19994
225,000 Ju!y 15, 1990 225,000 July 15, 20004
$Bonds maturing July 15, 197' through July 15, 2000, inclusive, ar, redeemable, in whole tor in part, on
July 15, 1992, or any interest payment date thereafter, at par and accrued interest,
Payntenr Record: The City bas never defrulted.
Legality: Attorney General of the State of Texas, and
Messrs. McCall, Parkhurst and Horton, Attorneys, Dallas, Texas.
(Opinion Prinud on the Bonds; See Legal Opinions.)
Delivery: Anticipated an or about April 5, 1979,
T t x
# T F
111 r~5
VALUATION AND DEBT INFORMATION
(~f er'A.xr.ry r, 147Sf
19;8 null Taxable Value - Estimated,.,,,,,,
1978 Assessed Valuation (60% of Es lima
led Full Taxable Value""' " $481,504,503
Tolal General Obligation De
)
L~ssr Interest and5inkin bt (including these Bonds) $299,902 701
Sinking Fudd
NeT Dt aT S 15,314,161
Ratio Net Debt to 1978 Full Value 3-- 2
Ratio Net Debt to 1978 Assessed Varu $ 15,359,819
ation...................................... i,23`G
1979'E'itimated Population - 51,550
Per Capfri Assessed Valuation - $;;4.32'
PCI. Capita Total Debt $307,93
Parr tapila NeiDebi -
$301.8
.ra J3,~ Square Mile
'Yore Note '?ursiii
adtKdritj 0 'Milled'by'Sehjon t•b' t~
bee r1e,j -Ive January; 1973, ,Article VIII of1ne$iateC'biist,tufob;which
err ei[y'bwrFhslavel63'yter;`of8' `fhe~+ 1u nrp'r6pertan.Xetti~t~~4
as shows q Ve 1 .~00 of assessed valuation to
the assessed valuation ss
P~ , ohs,
beert'dlcrsic'1cd fr m
'h I
Note s'he Legislature pursuant to a con$ iiutmal a'rticndment and A•Itcle 7150h,"VATC
windates an additional property tax exemption for disabled veterans or the surviving Spouse or children of a
deceased veteran who died while on active duty In the armed force:. The exemption from taxation applies S,
either r,.-al or peisonal property with the amount of assessed valuati-5n exempted ranihig rr, m $1,500 to
$3,000, dwident upon the amount of disability or whether the exemption Is applivable to, survlrldg Ipouse
or children. It is estimated by the City I1191 the reduction in assessed valuation has not exceeded $384.000.
Noll 3: The above statement does not include S 10,230,000 Water and Sewer Syslern ` (including $4,000,000 currently being offeecd for sale), nor $19,255,000
Electric Revenue Bonds, uas these
Bonds are payable sorely from the net revenue of the respective system. Interest and Sinking
Reserve Fund to the credit of the Water and Sewer System, as of Februar t 1979 a
and $551,590, respectively. Retirement Fund and Rescrvt F WA Fund 724 ed to February I, 1979, amounl(A to $1,141,000 and $2,250,000, respc~r)the clyredit
of the I;lectrlc System9a~s of
E
2
A7~~
2: '4Y ~ t l ° - r
9 ~.~.11 ! r rr s~t,1 /TAX .PATka ~tlt
t1'at F Mint Sww"ni er 301
AC) VALOREM TAX RATE
lnteraet i Total ~'l'ulMt
5lntA{ ' Tim 'b Cort"t CPtlecll!
Asu d Genertl End Ratf Cou}ctloPa `
c ~',luulons Fund
ia
ta ti51.50 0 93.70"b 91,62%
S0.6501 $0.8499 95.78 99,42
1969•.70 S 71,868,297 6333 .8667 1,50 95,49 97.9) I
'
1 ,,608,456 .8285 .8715 1.70 97.A".
19'1-71 t 1~132,2,53 ,7956 1,70 95.65 .9044 {9711-72 95,155,723 .896960 1,70 96,54 98.03
.8 98.
1972.13 8, 1,10 95.46
1973.74 102,222,840.. ,591$ 95.05 97.86
112,1SZ 1726, 41.0 ,8826: 1.70 99,43
1974-75 124,327,113 6862, 1.78 95.23
1915-76 136,540, 2.S 1.098. ,'L72 i.24 93.90 95.21
1976.77 271,339,1f'i(y)rr l77 9 - , ;177120 1.24 In process orcollecllon
1977.78 288,902,702 ,'280 - 1.. 1
1978.79 t m 40~¢ 60`16 1 g„ Revatua{IOn. u,
i or. A~tua1 nd ,
I; . H~~;~ {pcrfzsled~ $s 9~.~_rs,~~R i t r ilq, trl
Splj jrnop QCrr11~ ti,i
" axes} alFe,S0 ' 4 r 'bf~Qfne':delin~ueIS 9 I f I 9
JSecemberl; second haby h~arc4+ 3i. isctiunfs are not alC ed
hal by r
~tlar$4s.(or Qtn~l~y qd ~ eresl are made as,f0110ws: 1 rr'..+'1 I
c r err
i ' 1 i ! r''' 'latefbt ; Plndty
laltleat Qttull) ! 1 34h% 8%
~t96 2% August ; „ 4 8`k
February 1 ; September, l 4~i% % 8%
1 . % 5% October 1
March 1..,..,.,........, 11/]% 6% 5.% 8`2
Novtmbtr
A
ytrit a„ I i.,.........,2, % 1% %
Junt I,. 2'/A`a 8% January I 6
3
July I %
3
777 -
F7, 7'
it+ ; iP isi+r tr'P 1978-ASSMED VALUATION W CILASSIFIF.U lsi i 11
► r1 i F! fritr l
191a
A*W%"d % or Full
_Yalaalloo TaubleYalue
REAI. PROPERTY:
(Residential and business land and
buildings) $230,592,782
PI MONAI, J7.31 %
Merchandise inventories, business
furniture and futures, and banks... $0,778,119 i
Automobiles .......craft. , 17.03
Mobile homes and air 5,123,52E:± ;,.~.gpg,,,r.;;.p
f 1,750.330 0.58
$298,244,752 100.00%
Less: Over 65exemptioris?.,`.ar, 1(8,958,050) 3.00
Disabled veterans exemptions ( )
1978/79 Net T abl V 3( 84.000) _ (0.13)
aA ci 41ue,.: „i ............r,.... , L288.902,702 96.87 %
Iz I~ ti, a ; sTAX RATE Iri
M1)r1TlON
Alf fable ~Mpert fIvithin'tho Cify,'U kb3ect to the Wessment,"levy iWd colteelibfl'by thb alit bf 6
ddhtinulnd,` dired'hrinuaI lid vafort' fh tax WricienCtb provi0e for the payment c+f principal or od inlbee4t'o,5!
alf types 'hAx obllgailonf bf the City withlA the lifiiits prekHbed by law. Article X1, Section 5,'oftl llTekd!
Constitution is applicable to the City of Denton, and limits its maximum ad valorem tax rate to $2,50 per
$ 100 assesser! valwilion (for all city purposes).t'The,City operates Lmdcr a Ilome Rule Charter which adopts
the Constitl,lional provisions.
MUNICIPAL SALES TAX
r
, ; . 4trrreetl,e~xaru t. lei
The City has adopted the provisions of Arlic:e 1066c, Vernon's Texas Civil Statutes, ai- amended,
which grams thu'City the power to impose and lety u 1% Local Sales and Use Tax within the City, the
proceeds beirfg credited to the General Furid. Collections and enforccments are effected through the offices of
l the Compfroller of Public Accounts, Stale of Texas, who remlts the proceeds of the tax, after deduction of a
2`#, service rec, to the City monthly. Revenue from this source has been:
%or Celulraknrof
Calendar Total Ad Yabrem At Velure m
Year Collected Ta/ t.e.r Tae Rite
69 fe) ['apha ,
S 559,693 51,92%
1970 607,716 $0.7788 $14.24
197E 52.89 .7933 15.24
711,871 50.37 .8563
1972 778,333 48.12 17.85
1973 iSR15H, .8180 18.12
1974 6~ir. l 50.3 r;%r•854`l 19.(8
9 (,,080 53.2 .4059 I f t
1975 1,000,932 52.68 20.81
1976 1,194,335 .8424 21.39
1977 ~ 56,66 14632 15.28
1,254,452 31.88, ,9234'
1978 1,629,832 48.44 6007 26.19
31.62
IL 4
J;•iii n n .
(ti P~ Ai f~ i t,. ~ . .~lr r ~d~N'. ~ i~' ~ C tWVdti.
J~ -1
ESTIMATED OVERLAPPING FUNDED DEBT PAYABLE FROM AD VALOREM TAXES
(As of February I, 1979)
Total therlappint
Subdivision an % room
Debt Applicable Debt
City of Denson $15,874,00n
Denton Independent School District 100.00% $15,874,000
8,611,295 18,44% 6,754,700
Denton County
TOTAL OVERLAPPING FUNDED DEBT 7 2,775.000 29.17% .809.468
$23,438,168
Ratio Otierlapping Funded Debt toAssessod Valuatinz
Ratio Oierlapping Fdrlded Debt to Estimated Full Taxable )valve 8.11%
4,87%
Per Capita Overlapping Debt - 5154.67.
TAX RATES - OVERLAPPING SUBDIVISIONS ,
(971 1411 f 1976 1975 u'19~1''`~ 11y3`at" E jt971
City ofrvnton................................... ✓t~-S1:24tt~S1.24 Si. B' t 51.70 $1,70 $1,70
talonlndepenrlentScha Dlatrict.,,,„,, ,1,37,., $1,70 $1.70
Dentonl:dunty b7. 1.67, 2.Q0„ 2,09 . 1,00, ,.2.03 2.00, 1.99
19f ,9S 9 ;
i
Stated ;95 .9$ ,,....c 1 10 .',10 :17
17 27
c TOP TEN TAXPAYERS
Hof
Taxable Taxable
Name ofTarpayer 'NaiveoiP!operty Aww4 Assessed
` Valuartoa Vabratba
General Telephone Cimpany Telephone Utility
Victor Equipment ComPan S 9,176,930 3,18%
Y Welding Equipment.Manufacturer 5,482,420 1.90
First Slate Bank Bank
First Denton County National Bank Bank 4,548,612 1.58
J. Newton Rayzor Commercial Property and Office 3,153,810 1,111
Moore Business forms, 11fc. Building 3,113,'65 i.08
Business Forms Manufacturer
PP ;12,984,660 1.0,f,
Cranford Building Corporation Sho
Acme 13rick Company g Center
2,853,440 0,97
Lone Star Gas Com Bricl, Manufacturer 2,585,620 0,93
PanY Gas Utility
>3'cstgtte Flcspital Il IfosFital 2,164,450 0.74
Tow _ 3,866,730 0.64
5_37,',33,437 13`13%
INTERFST AND SINKING I'UVD MANAGEMENT INDEX
General Obligation Debt Ser4;e Requirements for Tax Year Ending September 30, 1979 $1.380,558
Interest and Sinking Fund, All General Obligation Issuet, September 30, 1978 S 32,409
1978/19 Interest and Sinking Fund Tax Levy 9 95%Collection 1,405,223 1,431,632
Estimated Surplus,.,
S 57,074
S
w♦ ,
y y'~✓,F~_Y i t,: w 77 S M
f 1
' ANTICiPA3E ISSVANCB,pF GI ER4 CBS RATION bNris
The Cily does not, anticip td the isK+rO
WdOf,Ahy'*AditlohAl Geffdrai l-, igation Bonds before 1981.
E~TiMATED ASSFSSF,D VALUAT16NS
It";r rGgr ,yJg}xf. oo 0 or Ea wated ~tdt Vduel
1979
1480 5312,318 00 I
W 351,392000.} r
.I 1981 f~,,A, ' ` s
,i~.. ,
i vp l
~141rwv.,~t r}~c jl V -RT~
D , .r ?f,. , U > j
AUTH'OAIZED NOT t ISSUM .BEN Ii`AL OBLICA f10hf IO1VDS ~
i ^,e Been. ' .'T'~('[++rh.y. +yyy y jr it f,.
ut'I
Srf1 fov menlK,f,~P,;. 12+18773'"
I'bY 5~300,Op0 r.;'<S r, rnK y0-- wt
!nent!1J.J . 2~78;~8i tt'y>fti3. r,-8- ~~-0=-i ti
>r
~iPofice~ O?Yds, {ttS.t..,. 248,78E (x4j, l S,O~.4,1u,p .~_.s,t,~
1A Mt tit„ 111r :1'.i. #~Z831S i t>t), tow +1rF,C; r~"p_.. tt>.i •t4 8 > > r~. ,
"r 'Piro -4- ~v s
..r, it~:,a~.t. ,18 dr;r.>`t~.--o~,,- ~r;~_~__,i~,~d,I,rw S ~•oW opt) r, . SS.4o OW rr'r SUO r S"~/_} 1
^Il ~ ( ~tf • Ir,i~ I/l!,t T;s £Irt 1. ~~y~. Y~~i..i~1'~'`,i
T /r I )4 i
p '
ROUEDSfr ] r1 a,i,I
06ds of th! 14;500,000 C3ikrfr61 Obligil1M`dondslll be used to construct wprib'us improvcmenist`i A't
StNel the Csp~trai't} r p'o ,°t1if(`an+' frti'f['gHlin$ facill~lk"within t9i City. The Cifr , anticipates &S issue will fund'
thrve cr{t' ~rdgraFn';frfF_i~ perio'dil'(e04 two't'o.fuF' ~ea•s.~ t'
t
.
.r.
, , ~ i + r - , , ~ ~ , ~ ,it ~,'p~,. a1 . i - `t„ Jy. ~ {N~.~t' r-~ A ~ I ~,1 a.p nti
F~ JY L. "J 1 A J ,il,g {'Y t \ fA1,'y~ .'2✓ ~ t S Fi ~ ~I' Yq
kN
71
46 't.
1 it ~ ttt
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Cvijh y0t l'f'M'11t() ,t t: ~lAt`EQ)i° 1 ;rfl ~'I tt `(`i ++In a..
DEBT SFhVICi&, REQUIREMENTS rh':. Ft ,
GENERAL OBLIGATION BONDS
lVerr ~.a
oasau~at.lc tt~d. I;4{ ,IFa,
FtxwVe
~ tloade cn►rN Tetd r b.l
&Nember30. Prlnclpd lMereM Totel PFIK10 Int_ _NMIt) Tool _ Ketotemeall f) ked
rT
1974 S 805,000 S 573.5W,',$ 1,380,551. $ 0_ $ 0" S 0 S 1,380,551 I
1980 033 QW 530 373 ,t)u,1 361 373 0 398,250 398,250 1,',59,62)
198! :832,000 4$,9¢,r.~ca20,±i3 223,000 ' 258.E - a , 483,863 1,04,828
19t(2' 83004 141,406 r~'811 83,40<t 2~~~ 243,E r t4"0~38 S),~94
1,167,304 ,000 232,313 457,313 24.617 2 63%
19,93 760,000 407,304 225
'984 760,000;{/,().470,!4At"PitlJ4~l9i1 SSA rcl, 219,,0 +t' v444R3a :f 1074.181
1985 760,000 332,738 1,092,738 225,000 203,763 4)6,763 11/523,501
1986 735,000 247,025 1,032,025; 225,000 192,48A 417,488 !,1,449,513
PIa1' 45 179 21 404,213 '7,342,658
'alp'".e"' i ir. e I li ~ {~~a, ~ r4• 1
> . 19 9 1 7,1,
116.. Fr.
E` tT X$00 000 ~Otar t 03, (1 & 6e93$ 2 t' ! 34s}g 364J88 ~
0 475,01kl:~aA1 113.11450r--(, ' 64 450 N 1 118{ 3S I d l3 r+i tbl , i r?4SQ1066,X),~,t117,65U a .;1 567.40 {)~t423,QOp JAM a ,.90~
. -543(134 rr2S~000 94,563: 324,563 r 867A .3 't91,7i96
4,OD0>n.OH 43,350
i a !1 L, .Vi,
1;14 1,450!1,000W),~~ T 68,7$0
30 tx~1 (02252S~000*,y 7),013~ 196,011 X18 3 {
11 5. -ai ~....~3,85Q fx x3 ~
19,16 350,000 28,250 , 375,250 225,000 59,731' 28038 659,9
195`7 200,0410 8,000 208,000 225,600 46,467 271,463 479,40
19460 0 /0~ rttii22b,00Q 333,1881 258,188 258,196 ` 97,19%
1999r,1 lil3A. litflli %.9n!}/ F11rlt,r'b Ti f)' isi I 1 01 r~il'~S"I •.'.4 j.9fl i :2~4~913 m
20001,/ \
Q,o, ji2g!;j.Ci.,t,rji',1!(1,;-9,) 1 it, 121; 'LUA 5
YjMa 11 494 S4 17 7i 1 7 a l SMULZO
(1) Interest on these 54,500,000 Bonds has been calculaied at the rate,of 5,90% for purposes of illustration.
,
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~ ~ B Y y 'T . r . x. ~ y.. 7^' , lit d'.. t a r • , r
F
d
v
WATER AND SEWER SYSTEM OPERA7'!NC STATEMENT
f1wal Year Ended
September 30, Septembe!30. September 30, `%eptember30. S:ptembu30,
1978 1977 1976 1973 1974
Income 52,55!318(3) $2,572,785(2) $2,323,868(1) S1,886,361 $1,913,271
E'xp(nse _1,978.870 I,7n39~04 1,41609 1,126,329 1,012.617
Net Available for Debt ; ;
Service $1,572,508 $ 868,881 S, 907,249 S 760,0321 -,4,400,654
Watercurlonrets 12,787 12,327 12,01! 11,591 11,363
Sewer customers 12,269' 11,837 11,496 10,981 10,753 t
(1) Water dnd sewer rates increased, effective November 1975,
(2) Water and sewer :atcs increased, effective June 1977,
(3) Water Arid d a"er rafts increased' effective ude 1928
:~d+'rid',y,tt~Xih',tc~ia~'1~Il'~¢fM?1v4°.~'~~`63~~ s~ '`~#{S`~t?~'~+~''^k'at4(~~"-q~~``f#~t'~*'~fl` ~'a•t:~??+...~W+fJt'"c€~~~~:r .N~tlk~'~v+:~b;~t~rF
I AGtrAAn`n'ualri»6fndth'te4&tltuif£rflrritl;l919.2640 (lncludingthese
i's~atls)....,, t 130,891'
i Coverage of Aversge Requirements by 9.30-78 Net Income,,,,,,,,,,,,,,,,,,, 2.1'8 Tihies
MtiximUrn Prind of iind Interk Re' fiirementi 1983 (rrlcludid8 thcte Bonds) . =.1,086,365
C6:69'e of MiArnlrm Requlichteotii by 9.30.78 Nit Incomt 1:45 T'iMes
Wt We And Sewer S3stdm RevenUE Bonds Outst'a'ading'06cluditigthese Bonds) t "$10,230,000
Interest and Sinking F'ultd 2.179
Reserve Fund 21,79 299,724
.,.,.r
VALUE OF THE WATER AND SEWER SYSTEM
i aa Ii.! Il r°; S1iri r. ~(.ir =f 1i! r+, IA~~;.?1~1 1r
}lied Veer Ended September A,
1975 1977 1976 1975 1974
Lund and Land N.ights...... S 373,527 $ 223,896 S 238,217 S 236,349 S 234,022
Water System....................... 12,886,850 12,717,573 12,554,045 12,078,457 10,238,414
ScaerSystem......................... 6,406,014 6,323101 6,261,975, 5,976,210 5,867,069
Water Rights. 4 . I . . . I . . I I . I I . I I I I . I X5(1,064 250.064 250,064 250,064 _2501064
Gross System Value $19,916,455 S19,5!4,634 $19,304,301 $18,541,080 $16,529,'169
Less
Accumulated Depreciation:
Water System S 4,832,209 S 4,499,372 S 4,174,931 S 3,854,694 $ 3,569.239
Sewer System J,934,561 3,715,165 3,498,306 3,291.778 3,091,316
Water Rightw 125,032' 120,031 115,029 110028 305,027
Total Depreciation S 8,891,802 S 8,334,568 S 7,788,266 f 7,256,500 S 6,765,582
NET S)'srEM VALM... 511,024,653 S11,180,0F5 511,516,035 511,284,580 9,763,987
8
CI rY's IKQIJITV IN :$VS'TE111
Fiscal 1 ear Ended September 30,
1978 1977
1976 -
- - - _1915 1074
RFSOURCr:S -
UIIlilyPlant (Net)...... 511,024,653 511,180,066 $11,516,035 $11,284,580 S 9,763,987
Construction in Progress 689,00 4961293 2061398 65,574 1434638
Total Utility Plant,,,,,,,,,,,,, $11,714,103 $11,676,359 511,722,433 $11,330,154: $9,907,625
Construction Fund S 505,389 $ 620,729 S• 146,973 i 649,093 S Legs, 2;433,294
Contracts Payable 1,579 20.371 33.430 _ 179,983:,.' 1c-:432r309
5 ! '503,810 S ._600j.8 S_ 113,045 $ 469, 110 $ 2,180,985
Other Assets 1,353116 1,015,863 412,652 899,286 953.197
Total Resources $13, .$07
371,4'9 513,292,580 1i12788,130 512,718,550 513041
001 I(WrIONS
Revenue Bonds. $ 6 ,30
rlityl+;ar,wt'`AtC1'bbitTtit' „ ` l
dfblsNbt..,,.t~b n~l.i~u+,t, ,S?S, 93,26.4'1 6,tSS2,g78 ;:;;b:2ii47!3 'S;6 82x248 ,,5 6,6 ba13
Deficit Position Pooled
. ~.Ce11hl„d
+,d 1.~t .627,IQ~8 :i 927,001 ' tF, _9T63147 t 601,8~(,,i~'r .594,280
Olherobligations 357,981 ;Z 2..a3
7
,N-uTotal Obligatinns 7,278.915. '--;--u-~2 20;,r;..~:.9.., t.:
f'ety's Elgtrily In System.,.,.,,,,, S 6,292,514 S S,S40~061 3,331,133 `$J0100.652--l y4
centagc Lquily in System.,. 46.37% 41,68% 41.69 %
-~40___.tr►7t
_ _
f ~ l 1 ;J ~ i l re I,' , ; ,r ~ SI ! f J Jr I I ' i t+ I t i J
AUTHORIZED WA'T'ER AND SEWER REVENUE. BONDS
Amount
Date Amount Issued ' 141nd Unissued
Purpose, Aulhorlred Authorlted To Da It lswed Balance
Water 5.16-72 S 5,275,000 53,475,000 $1,000,000 S 800,000
Sea'cr 5-16-72 51725. 525,000 3,000,000 2,200.000
$ _I1; _OC4 54,0001 5410000, 00 53,000,000
PROCEEDS
Proceeds of the 54,000,000 Water and Sewer System Reve,luc Bonds will be 'used along with
Environmental Protection Agency. Grant Funds, to construct a f million gallon a day Waste Water
Treulmcnt Plant, and miscellaneous improvements to the Distribution. Interceptor al d Colieclion Systems
within the City, The City anticipates this issue will fund the Capital Improvement Program, for a Ori,od of
from two to tour years,
ANTICIPA'T'ED ISSUANCE OF WATER AND SEWEk REVENUE BONDS
The City does not anticipate the issuance ur any additional Water and Sewer Revenue Bonds before
1981.
S►
I♦ 1
* ; " wl
MONTHLY WATER RATES
Elreceit lane 3i), 1918
RL-S1DENVAL USERS
Veldt Chy Limits
Otltdde City L'eJh ,
Custorr,er Charge 52.10 per month I iS% of Inside f.ity Limits Rate
First 10.000 gallons S0.90 per 1,000 gallons
Next 40,000 gallons .75 per 1,000 gallons
All Over 50,000 gallons .70 per 1,000 gallons.
COMMEROALAND. 1NDUSTReAL,USER;
y LhnNs Oo/stde Cfty L4>tiri
Customer Charge S3.00 per month '
Volume Char a $0.69 115`b of inside City Llnits Rate:
g e I,EN)D gallons
'!~s,pxd'a4rnn*~ry H~Id' ~'t~~if9i5f',
rrthrri~ r„ u'N ^i~nl 51 ir<. I : r I•r~f1A1i~'1V'I'NL . '
"I; 7f , ~I V'J , } [ a I 7 ! I ~ a r♦,)~., 111 iij Ifi~ Il i~.~l
t ..a :,I ,1(P4 ♦.r Hi r. rr 1 Y ;111)a iy }'I i',.i rr~,,'~
1,111?? i•,
' ,I. 1 esfdelMlaf I lr.,, 'r. Y i r f '!',r , { ~ l
i'
! Butd (b~harlttW and f rdryrlsl l r, ul ; f ,
ot►4gtlg►14'RtgS~sP9rDt ~ . r
t I ~ aI r!i)1 1 „ + 1 ~Pa>~ vt!Y~tC1 i'op!fPwfl4a
Firs, " ' . 1, .c, I'' ~+i•
,11
?r g~llona , 1, (
9, - ,nimum), 1 trSl galforta, Sti` tnurn)'
A11Over' 2,000gallons Sb,33 per 1,00pgallon,. Ailtiver 4,pbOgallon~ SO.~cr,~r000gal~ons
WATER AND SEWER SYS; LNI
Watet Supple
Present muAcipal supply is obtained from br-h surface ano. underground sources, The City has
previously acquirc4 conservation storage rights jn nearby Garzu•~,i411e Eh :1fv oi r which wasconstructed
by the U.S. Corps of Engineers. This reservoir contains a total of 436,000 acreResefeel of conservation storage,
The City r(Denton holds rights to 11,000 acre feet of the storage, with the balance being held by the City of
Daiia.s. The State of Texas has Issuc-(l it permit to the City of Denton allowing an uvcrage daily withdrawal of
approximately 10 »rillion gallons. Recent studies of the reservoir indicate that even during a eriticul draught
period tar. City of Dow's portion of the total storage wit) produce approximately S million gallons per day.
Although surface water provides the major par; of total rcqul,ements the City has an undcrjefdund source
consisting or seven deep well9 drilled into the Trinity Sand Grdup, comprising the Paluxy ahd Travis Peak
sands. The maximum estimated production which c'tn be ubtahud from these *c;ls is S minion 'gallons per
day. and the average daily production is cstimalcd to be 2,5 million gallons per day, The City's Water
Treatment Plant is designed to treat an average or 16,000,000 gallons a day with peak caps pity of 24,000,000
a day,
Future Water Supply,
Long range flans of'ihc'Cily of ballasto provide an adeqLu•le suppry"of wider In the futu're'provldes for'
the conoructim'ahd development orthe, ~'ub'rey keservoir In Dehlurl County, focatcd lmmediately bbbvd the
present elarza-yttle Elm Oeservoir on the 0m Fork of the' `Priarty River, The pe6ptustd site of t~tc Aubrey;
Rescrvolr is located 16 Denton County, adjacent to the City of Dcnlc'n, bad it has been JelcrmihL chat the
must economical solution to the walef supply needs of both' cities !d [his particular area re4urrr's' 6'e
maximum utilization of the existing supply in Garza-(.idle Elm Reservoir, to be followed by coordinated
10
development of the Aubrey Rtservoir, including an kxchisngo of storage between the two cities. Accordingly,
by contract dated November 19, 1962, the City of,Dcr,'%)n entered into an agreement with the city of Dallas
which provides, in part:
1. That st such time as Denton': average annual withdrawal from Carta-Little Elm Reservoir
exceeds the safe yield provided by its present storage right (see first paragraph id this section) it will pay
Dallas at the rate of 245¢ per 1,000 gallons plus pumpage cost (presently 2t PC;- 1,000 gallons) for any
such excess water so withdrawn.
2, That Dallas shall be obligated to sell the City of Denton not to exceed an annual amount equal
to an average annual rate of 13,000,000 gallons per day at the established pries of 2ft per 1,003 galltm9
plus pumpage cost (presently 2t per 1,000 gallons) through the year 1980; subject to an exten.tion of
time mutually agreeable to the gbverhirig bbdids'bf both chl[6,'`1
3. That, Or. two, cities will cooperate in financing and construction, of the proposed Nabrey
Reservoir when requirrA; the City of Denton to pay not in excess of 26% of the construction cost and
the City bf Dallas not less than 74% Water to be stored to the reservoir shall be prorated on the basis of
h l
each city's assumed rtton of total construct' cost a ,,~y
'1~`41i:."°r:~-"; ^1'°"'rs,•"r^~+:"i~ +~~~i~°3•"P`ap^P
' Devtlopm iii ffthe'Aubrey ltese''rV~~r1!"i ~G o~i~n balls'"8rild Demon's LdngRengeWitterStudies,
Contract negotiations are underway between the t~yo i ~eq, a tporsors, end the U,5.Oovernment (Corps of
Engineers), for construction of the reservoir, It is antlpated the proJocl wi11 be constructed and a.nanced by
the Government for the storage of Iloodwaters, as we11 as municipal and industrial rater storage. F,stimaltr!
safe yield of the'resetybir Nas bt1A rglct laced at s 1,000,000 gallons per day,'of whieh'amouttt' Mhton would
be entitled to rMive up to 21,000,00Q gallons per dfy. This amount, p1W a safe yleldol5,Or70,0ot7gallurt per
day {d'bp,'GArbinl ' jr~oynr the*d~eJid s orage rr his in Garza-L!rrle ~I» f Rrsirvorr, ti,11 be tuJJlrclent to r",
¢t'
the 01r ,'s esiinih)ed `water n~l~1s 7b6ugh ih~. S,4or 1000. y '
Wtter Usagi :i " d. r, ? . , {
Aterge Maxi spurn Averejie MAXIMUM
Yter Doi no) Yt/r Day` Ny
1966 4,130 000 8,548,000 1973 6,636,907 i2.175,000
1967 4,705,('00 11,254,200 1974 6,822,000 12,620,070
1968 4,669,000 9,921X000 1975 .7,216,282 13,350,000
1969 5,566,418 13,495,600 1976 7,264,000. 14,080,000
1970 6.485,5;:2 13,725,700 1977 7,923,000 14,119,000
197i 6,808,151 15,052,800 1978 8,394,000 16,466,000
1972 7,164,413 14,117,100
Waste:rrter Treatment
The City owns and operates an activated sludge type wastewater treatment facility, The lirbt eletncal of
this plant (with a capacity of 2 MUD) was placed in operation in 190, A 4 MOD,addilion was completed
and put in operation during 1971. A six million gallon per day addition to the plant 6 ugdtr construction atr
presCnt with design work, complete and r; onstr,uction contract awards planned for the r,pring or 1979. The City
hats epplicd to the Environmcntal protection Agency for a grant w fund M of the plant and certain related.
collector and mainlines. This grant application Is in the final stages of processing.
;r
II
ESTIMATKI).
DEBT, SERVICE REQUIREMENTS
WATER AND SEWER SYSTEM REVENUE BONDS
FIk~llesr The Bones Ct~nd 1< of
F ndina Ouistr,ndinp Bonds TOM P, ndpl
tiVplemtxrJO, Prlnclpsl tnteresl Ti4sl Pr;ndpR1 Interni(I) Total Requirements Relkea
1974 $ 365,000, .S 3061361 $ 671,368 S 0 S, 83,333 S, 8),333 $ .754,701,
390" 28FIA98 016.5" 0 25o,M?9 ~E.2591 9, , 4?9.568
09 o j ! 269s30~ rs, 09r3,0 , X1.00{449 250,0 Os00,Q ) . ; E 1 ~Q)9r3Q . :
I Y81.. , 1. ; r .4901,0
1982 420.000; 249,)76 669,376 166,000, Z43,750750 1,013.126
191$3 420,000 ;129,095 649,095 10Q1000 237,500 )31,500. 986,595 22.43%
1984 425,000 21.0,3¢8 635,30$ ;,100,000 231,250 „ 31,730 966,558
1985 445,000 191,365 636,365 225,000 225,000 450,000 1,086,365
19 ¢ 47,5,000 , ,,,t>4,6265 2109}$;;435,93„81 ~~1,082,.2 3
, itd4fi4:+.,i,
14 7,...~1 ! 4r}r5,OQ4,1 ,49+4: 5~4,d~1Q, 19~r83 4,21,875
19 8 440,000 128,550Q0d568,550 225,000 1§2,913 40i,d~9 16,33 3',9196
19$9, ;4g5, ~e,_.:;106,3.10Fj ,t$IJt51,0I .r..1, .756 i.t 13~3r7~0.t 45A
1990 4011,000 $6,278 486,278 225.9 14,:88 379,6,8$ 865,966
1991 240,000 66,950 306,950 225,000 140,625 365,625 672,575,,
199 240,000 53,425 -)9,425 223,0p0 126,563 351.5643 rl 6441988
d1 „
!g3y(~g000 ' '~35; ob~). 112y,~ ~3{~yy { 568,570 79.72%
Ito 4' ~0~443 ,9i$g~ f t 1954.63~'
1995 Ib0,G005,0 1~3b00 235 b~,35 ~'3tl9,3f5 434'37Y
1946' }i 100b60 r ♦17 ti 18',TSO 225 7033 , ' 295,313 ,.;4(o.0'G31
1997 100,000 "12,300'`"11,500 3251000 55,250'91,250'`' ''393.7
1498 100,000 6,250 106,250 225,000 0,188 267,188 373,438 95,60°x,
1999 0 0 0 225,000 48,125 253,125 253,125'' I
2000 ' 0'' 225,000 4,063 239,063 "239.063 100.00%
56,230,1 'A 52,641,266 $8.811,266 S4t0004000 S3 20:1.337 $7,208,337 516,074,603
~(1) Interest on these $4,000,000 Bonds has been calculated at the rate of 6.25% for purposes of illustration.
i
12
S(AWA Y OF
CERTAIN PROVISIONS OF TIMBOND ORDINANC'F;
Definttla , 1 ,
The term -System", as used in this Ordinance shall mean the City's complete Water and Scwer
Systemm ,including all present and future extensions, enlargements, additions, replacements and
improvements thereto.
The term "Net. Revenues", as used in this Ordinance shall mean the gross revenues of the System, less
the expeMe of operation and mafritenance, including all salaries, labor, materials, repalr► end extensions'
nECeSSi6r' t`o render eM lent serVleb;'provided, however, that only such'repalrs and e:tteWildns, as In the
judgi do Vr the t pncil, i 6hably and f: it exercls~;'~its are 6cCesdary to t~ee~"fhe System td
operation and rcadef adequate so fvue to the Ci{y edd~lhe inha&l2ii'ts thereof, o}such a3 tt51glit be nxessary
to meta pome phys#' al accident & condition whlch would otherwise impair the *Bonds'and any Additional
Bonas'ptrWtted to be issued, shalt Wdeduct6d in determining "Net Revenues",
't'jht ~Wm "Bonds"`shall Mead'emectfVel the s4, 00P,66'Series 074'Bonds authorized by thls'
~Ord1phptt in'd a1I pfele ttfi cutst" aii" ;water W io;wer %;614 fevcaue 11666(the "Outstanding Bonds'.'). i
tthe,ternt "Ad&tiohel Bonds" Mtens the"d'ddii(onal b6lids"Ach the'City reserve3'ihe'Aght to issue.
Pledge r,:t ~t.
"'ei 1,~ f
All-gi'the Net geveques of Bhp system, w?~'t tbe,excepgvlt of those ige;ife~sr of the amoun s required tp, t
establi;r ao cuaintAin'thg funds j horeinafter iroyidied, arl, o'if ~ irrev4&~r~ pledge {4r,khe payment of
the 0opdsr,acd of the A,dditlonal .~o~►ds if issued pndpr the,F0 itions art, ,tn the manna ppgcificd in this.
Ordinance,, and 'he injergst theregn, and it is hgrehy ordained,t6j iS i e Bon¢3 aRd any Additional Bonds, if so, I
issued, and the inttrest thereon,, stray 1 constitgtef`iist Iteq u)ivq paid ne} tevgnues
Role
The City covenants and agrees.with the holders of the Bonds and the Additional Bonds if and when
issued)
(a) That it will at all times c}..,ge and collect for services rendered by the System rates sufficient
to pay al! operating and maintenance expanse, and other costs deducti bit in delcrioining "Net
Revcoucs" as herein defined and to produce each fiscal year net revenues in an amount n it less than
one and thirly•hundredths (I.30) times the amounts required to pay the principal of and interest on the
Bonds, and the Reserve Fund paytncntr, as they become due;
(b) If Additional Bonds are issued, the City shall to the extent required fix and maintain
additional rates and collect charges for the services of the System which will produce ea;h fircul year
"Net Revenues" in an amount not less than one and thirty-hundredths (1.30) times the amounts
required to pay the principal of and interest on the Bonds and the Additional Bonds, and the Reserve
Fund payments, as they become due, 1
(c) if the System should become legally liable for any other indebtedness, the City shall fix and
maintain additional rates and collect charges for the services of the System sufficient to provide for the
payment thereof.
Funds
All revenues derived from the operation of the System shall be kept separate from other funds of the
City. To that end, the following special funds are hereby created:
13
r + }I %
M ta, * , y i
(a) City of Denton Water and Sewer System Revenue Fund, hereinu fit, callted'tRtvcnue Fund''t
which shall, be,kept in the City's depository, hank;
(b) 'City of Denton Water and Sewer Spki.m Revenue Bond Interest and Sinking Fund,
hereinaRer'called "Interest and :inking Fund", which shall be kept In`tire City's depository bank;`
(c) City of Denton Water and Sewer System Revenue Bond Reserve Fund, hereinafter called
"Reserve Fund", which shall be kept in the City's depository bunk,
Revenue Fund ;A }
.,,All revenues of.evcry notvrc roceived froo tb::~,* or,water or! through tho,9peration,of the $ystem
shall nb de posited from days today, as collod.Fd ,tt~to, the Reventtr, Fundt and the. rosfoAkW, nd, proper
pe of operating and maintaining the System,,(p,:luding salaries, labor and materials Aall be paid
therefrom upon approval of the City Council. Revenues of the System not actually required to pay expenses
and costs incurred as permitted by this Section shall be deposited in the other Fundls; crealoo by jhis
yO~r~~nE1 4l,j cyehfof whis•h shall have priority. thefc4o in the o,~der;rln whlcl% they ;arre;jf cated ;in rthe l fp9owing
~,tPa~ti'1rlll'I` i.rEy,y fi 'i' ~ 'i C . , 'PI If' 1I- P}'i4I 'il f 'f ~~if r1
Interest and Sinking Rod
That, In addition to all other amv,,rds required by the ordinances, r"pectively,.,om_1hora4pj[#,p
0 eft nd~n Bgnd , 11h; hall be dppo teed i t y 1316fp and i)kjgg !~!f no (created ralhp n lit of
p 5tl Ii,3' f 1 nIri ( "J , ,.1it;t I :
sa~,uls(hq~iri$ liPj~ds seed all ilnay4n¢~ .j~e p d
J t 1 ! rUrrl 11: ilr, ~l r ,rl
d,?i 1 e`1+ li.~tl 1!~71hi1!trfr~. tY,~fl;~')f1 ftE J )e`1 re` II,... Y A
1f i1 f'~~ biFCh'N dukit3; iti'e bibilhiy Itistelk cn'tit,44dd bn' bi before thle'lAA day of eklt month
"hrerl lleF," Y'wrflbf►dhfeien`t'l~~ly ttie'lt~tEr~('s~hbdaled fo'o6tnd-due7on lhld'Ssrlt. 1479 Bondxdn
th'e'ttlk't')hlerdst payrht h't'oale; a'A'dlt r, r{,irr fr;r f,l ,!3 t,l.! J i r, 1
4 r ~';E H I,fl f,in, L3 ~')5' 01 Jli I.+J llff[Y~fl if nr ,It 11 !If IIIl;f.l, i„ 'I 1'r ire` ,r. It 1;,,111,,
(b) such amounts, in equal monthly Installments, made on or before the last day of each month
hereafter, commencing in July, 1980, as will be sufficient to pay the next maturing principal of said
Series 1979 Borlds., I f. i ! "I „
Rescrs'e Kidd ,i
That the Reserve Fund heretofore created for the benefit''of the Soeds And all A41ion'al Bonds now
contains money and invesiments not less than the sum,of W2,000, An Or beforo.the lAst day of each month
hereafter there shall be deposited into the Reserve Fund such amounts, .11n equal monthly instailments,as will
cause the Reserve fund to contain, within five, years after the date of the Series lg79 Bonds, an amount of
morcy and investments equal to the average annual principal end Interest requlrclnents on the Bonds (the
"!Reserve Required Amount"), Thereafter, no,additional,deposits,shall,,bo made inlq the Reserve Fund as
long as the money and investments therein are equal to the Reserve. Required Arttoupt; but if and whenever
tlxe; Restive Fund is reduced below the R,escrve Required Amount, a monthly,depp3it shall be made,,on or
before the last day of each month thereafter, illo tho,Reserve Fund from Net,Revrnuo of the,Systcm (after
the required deposits have been made into the Interest and Sinking Fund), in an amount equal to 1/601h of
the Rdservc Required Amount, until such time to the Reserve Fund hh's boen'resfored to the Reserve
Required Amount; and the City covenants to keep and maintain said Reserve Required Amount in the
Reserve Fund Thtr scrs,p Fupd sho I be maintained, ased, and may be` invested, for the benfft of the Bonds
Ind ale` Additional Bonds, in accordance`with ihe'proce16res, as herein modified site sitpof meh'4d, set rorih
in the ordinances, respectively, authorizing the Outstanding Bonds, it is Qqrovided, however, that if and
whenever, due to investment income or otherwise, the Reserve Fund`'cd!'ila'fni'9H%hi6Vnt"Ih d*ess'bi'46
kescrve Required Amount; such etedas @ball be delidsited'Immaotely w the credit of the Rcvehue Fund.
Iq
777~7, T7 -7 7 -77-7-77
Dehclendes In Pucld9 l
If in any month the City shall fail to pay into the interest and SiAiag Fund bled the keserve Fund ne
full amounts above stipulated, amounts equivalent to such deficiencies shall be set, apart, an4 pgfd into said
Funds from the first available and unallocated revenues of the following month or months, and such
payments shall be in addition to the amounts hereinabove provided to be olherwlse paid into said Funds
duting such month' or, Months: To the extent necessary; the City shall increase the rates and charges for
services of the System to make up such deficiency,
Fxcess Revenues
AnyYewtnue3 I. excess of those required toestablish and Mlaintain the Fund` as above required May be
usdd foi the rieddmpilon bf Bondi or Additionkl B6ndsr; the pubchase of Bonds dr Additional Bonds a('ndt
bxceedii'rgf'tbe rfttitket value thertof, or for any+ other purpose now or hereafter permitted by law,.
Securky`for Funds
funds created by'thisOrdinance shall be t
secfr~ted in the mdnhcr and to the futw i 1W pcrniliW 9
tt
law for the security of public funds, and such funds shall be used only for the purposes permitted In''thfs
Ordinance,
f '.a11r t !(ill,~lil1 ! 6 r'l t111 . 1
Additional kdttds rl} J)a l,r itl , lilr , 'i 1'
I ,1, n, , r,t,r r ra;
+t! fMIJ ~TF~e y ie`s&4'slthii righi ~o`fssG'e"'ad itIoht,af' iii Ir I' a rom
II red ft
bed f! ' ' sste N~~' 'd ~i~
additional bonds shall be called "Addttionu~ l3~orld's". the Addriib' a nht'!on'ds`whteeln is' s' td's of N~tiri ibe sFc#rt'e~ by
04 payable from a first lien on;and plgdgggf the i11et, Sygilu~s,9f She $yl;;m, iu,Ihe #mM rPpgggr and to the
sumo ;q>ttent4gs,are.ahe; Bonds. and;,thy,gQnda and'he,Ad4itigtgi ftonds,shall in all, respecls, P1, equal
dignity. The Additional Bonds maybe issued In one or more ins eli,menist The provisiotrs..Q(;thii,prdinance
relating co Additional Bonds pertain only to Additional Bonds permitted by this section, and do not relate to
}unlor' CfeFi tronds. Ali, 1 r r t, I.I !
(h) N +s provided, however, that none of the Additional Bonds shall be issued unless:'
'I) The Interest and Sinking Fund and the Reserve Fund each contains the amount of m,oncy
cfen,r1quirc4 t9 be Sn deposit (hergrn;
(2) The Net Earnings for mh' , cohsecutlve twelve Months out of the fcltera months "M preceding;
or for the tistvl yiear nekt rreeeding,' the date of the Additional Bonds, were equal tout least one and
lhlrtyhundr,dihi (1.30) times 'the' combined principal' and interest rcOlremi rats, and Reserve
rrqulremcnls if any; of all bonds to be dutstanding after the issuance of the Additional Borids, for the
year when Lich requirements ire the grtatest','m such Net Earnings are shown by'a rdport Ora certified
psbllc bcdoutitunt;'The term "Net,Earnings",'as used herein; shall mean the grri:.s revenues after
doducting' dfsbutsethents rot opetatlon and meintenihee,' but hetdeductirlg eKpendithets'whieh, under
standod'aceounting pAeliEc, 'shduld be charged to capital eKpendi~ures;
(3) The Additional Bonds are made to mature July 15 of each of the,
years in which they are
scheduled to mature;.
(4) The City is rlof ip Jcfi ull in 'any of the covegan(s"contained in this Ordinance,
N1datemance and Operstlpn; l{nsulanfe !
The 0) shall maintain the System la good condition and operate the same in an cfficicntmanner and
at a reasonable cost. So long as any of the Bonds or Additional Bonds are outstanding, the City agrees to
main!4in insurance for the benefit of the holder or holders of the bonds, on the System of a kind and in an
iS
1
r :
-7,7 YT
ontount'whlch usually would be carried by'yrivate coripanies engaged in a similar type of buMness. Nothing
Irt this Ordinance shall be construed as requiring the City to expend any funds which are derived from sources
other than the operation of the System, but nothing herein shall be construed as preventing the City from
doing so.
AccQut►(~.. i
The City shall keep proper books of record and accounts (separate from all other records and accounts
of the City) in which complec and correct csntries shall be made of all transacllom relating to the System,
and shall have said books audited once each fiscal year by an independent mlified public, accountant, The
fiscal year for the System shall coincide with the fiscal year fixed by the City Charter.
r,3 ir,;a;.rit
Accounting .Ijeport~
Within ninety days after the close of each fiscal ;car hereafter, the City will furnish (without cost) a
signed or certified copy of a report by an independent certified public accountant covering the next preceding
fiscal year showing the following information:
''''(a) nc6nWit'n, Vxj4h'!eStetirneni,' i 3
3t.1,, '+1 iuw 11 2r! !r7) I17r 7i .'"jy fir 7r1, f , jr 0 .r 1'1 lir'.il lft i i 11 U C ,~I 1111(.r~d; irl lr ~ >
:,(I~(b)'~Balatice'Shecl as of N)cnd~or the fiscal'yest;-~);;3 r,I~r; r„ I ~,I r
3
t? el'}i 3 ,I7,e,i l u itt 1 n s, r 1
1 t ;itr
1 ',~11(e1~ ~44Ii1aAis f4f"O~S?~~f~nB t,i~nnef yY~i~ce Ytty llas,somlt~ ivit~ ~he~
r yifeo}fSll#rtRp~,t•Iti} ~ry4jiilam4cf,pn4 Ns, recomqienQations, ~ny,'rgr any, sbog'eslu[ f W el eh14 Iii
t O)'Pst bf NriUa`hWp6lTd60hfo~O'e`gt 0'b Wd tirthe yt,ar;I'sh6wing;'M to`each OMWy the risk,
covered, (lip oltte `or thb Insurer, and 6c expitatlon~ date;
t ~ .I{... x111„ 71 .3. I' ~',r;t .1 ii !I'.'i~ i il' ••,3, i 1 'r .;J •li is
.'(e)1The nuni6,r of 'properties connected with the water an, sewer system and the total income,
from each said system for the year;
(f) The number or unno lerel cusiumers of the water system at the Foci, of,the yea . r
(g)' The approximate number of gallons of water flowing into the water syslcmof the City and the
number of gallons sold during the year.
Special Colenar:3
The City further covenants as follows:
(a) J'hat it has lawful power to pledge the revenues, supf.orting the Bonds aptl has lawfully
exercised said power t}gder the Constitution and laws of the Stahl of tc%as lncludjng aid power
existing under Articlys 1111•,1.118, both, inclusive, Revised Civil Statutes of.the St!ae of Texas, with
amendments thereto; that tt@ t;onds, and the Aktir.,a{ Bonds when issued, shall be ral4i
secured by
said pledge of income, in such manner that one hand shall have no preference over any other bond;
(b) The City covenants and represents that other than for the payment of the [fonds, the rents,
revenues and income of the System have not in any manner been pledged to the payment of any debt or
obligati, n of the City or of the System;
(c) That so long as any of Bords remain outstanding, the City will not sell or encumber the
System or any substantial parr. thereof, and that, with the exception of the Additional Bonds expressly
permitted by this Ordinance to be issued, it wiil not encumber the revenues thereof unless such
encumbrance is made junior and subordinate to all of the provisions of this Urdinancc;
16
Sa . mh"' 1
f
(d) That no face service of the System shad( be allowed and xhoold, the City pr, apy of its agencies
or instrumentalities make use of the services and facilities of the system payment of the tea09nable,
value thereof shall be made by the City out of funds from sources other than the revenues and income of
the Systcm;
(e) To the extent that it legally may, the City further cover, tnts and agrees that, so long as any of
the Bondi, or Additional Bonds or any interest thereon are outstanding, no franchise shall be"ir&nW
for t)ht installation or'operatlon of any competing water ,ystcm: or sewer system; that the City will
prohibit the oPeration of any such system other than those owned by the City, and the'operation of any
' suth"system by any one other than finis City is her(' ~ prohibited.
1 rspect Ion
Any holder or holders of Bonds or Additional Bonds have the right at all reasonable 1666lhsket`thi
Syitem artd e11 records; ottouht3 and data of the City relating thereto.
Remedles 1
In addition to all the rigtis and remedies provided by law, the Cltylgf4 r,coq i qq}s and grtct that In
the event of default In the psyment of principal or Interest on any oft~te Son s w~ien t o0, or tt fads to mote
the payments as required to be made Into the Fundi created by thisOrdiitanoe, or MiIYAs' ifitho observance
or po~~orrr~anca of an~iotf~er of~.}h c9venants, conditi?ns, of obligations set forth In this Ordinance, the
hojdq or h`dider`s df any o ihd`Ho d~ i4fi'll l r~ii~itled io'' "wttf df M'irh'd8ot'ps'o'>''olhtir
iitibf ld'observe
is'sue~ 1;~'a `cba'rt`of proper)urlsdlciio>i'E~srrdpElliM~'dt'nd'F1~~iiltttig't~t~'CiCf 'a'ltil'!h'~'offlriei! a prbpriste order
and perform any covenant, obligation or condition prescribed in this 0rd(rei4&. N'o'detuu'tt"e '"ilon to
exuri,+f attY',[1~ht of pgwer, sgg4gin8,UPOA any 0*4r,11 sh#VATpaJrIM r AY0 t~gh Af ,pP 4,or shall be
construed to be a waiver of any such default or isgggipscegge *10' an¢ eJfry juch 1 PT arl~ pp It may be
exercised from time to time cad as often as may be domed expedient. The specific remedies herein provided
shall be darONtivb'of all other existing remedies and the'sp cificalions of such remedies shall not be deemed
to be cxclus'vt. t
:fonds are §¢eclal'ObagatloA
The 13e041,re special obligations of the City, payable front the pledged revenues and the holder thereof
shall never have the right to demand payment thereof out of funds raised or to be raised by taxation.
Appro►al by Attorney General
The Series 1979 Bonds and the record relating thereto shall be submitted to the Altotncy General of
Texas, for his i pproval, and user he shall have approved the same, they shall be fotwarded to the
Comptroller or I ablic Accounts,'o( the Stale of Texot,'who shall pronspdy register them and he shall deliver
the Series 11970 Bonds WicIcordancc wiir ins(rug om to be given by t6 M,ayor, Thkomptrollcr, or a
deputy designated 4 writing to set fot ilikomptioller, shall Manually sign the Comptroller's certificate of
r'egistrption prescribed herein to be Minted on the back of each bond, and the seal of Bald Comptroller shalt
he afftxcd to each of said bonds.
,
17
ELECTRIC sysirm
The City'of Denton has owned and operated its Electric Light and Power System for approximately
seventy yedrs wiiholrf Interruption. During this time the System has experienced A Wady growth in
customers and output, requiring periodic additions to plant and distribution facilities.,
Senlce Arp
The System provides cl.xtric service to 15,844 customers located In the City. The City has covenanted
in the Ordinance that it will not operate, and %11 not grant any franchise or permit, the acquisition,
construction, or operatlon of, any electric energy distribution facilities which wwrld,bSjp,cprnpglitlP.n with
the electrio system, andr to the extent that It legally, m4Y, the City will, pr,ghiO.any such c4mpoing facilities.
Customers
In 1918, the SyMein sold 476,318,089 KWN of Electric Energy. The followih'g tabulat16n shows the
average`nu 'bet of cuitomrcrrs from 1975 through 1978 and the average charge per kilowatt hour ("KWII"
,`>'+V1bR rn~,~fl•tni'c+i _ Ves of seve btr 30,
1971 1977 1976 1975
AVFRAOE NUMBER OF CUSTOMERS: u I ,
Residentii;l„S 12,931 12,445 11597 11.030 `t
COMM r~Afin' dlnddslrlal'.,.
' 2,603 2.410' 1' 2;231 2:0313
tithe '
( p 310 312
11
w, t 15,844 15,167
Tol4161SI)nlefSn I .~,.,,,.,,~,...d 14,1 9cf 13
AVt 1tA(A C'i AkbE PER KWH (ccAte per KWH)
RcsldeddAl t 4,52 4.2) 3.68 3.09 '
'All Oih'cF 3.58 3.52 2.70 ~Af
The Srstem's sales of energy, in KWII, to principal customer classes for 1975 through 1978'were u's
follows;
K'A II Sold (9o 0mitted)_~-_ 1'nrFndM6Ce/temberJa,
1979 1977 _ 1976 -1975
Residential " 148,923 133,951 112,701
105,20)
Commercial and Industrial 302,673 295,017 288,156 276,168
Other,.,....,, 24,721 21,460 18,319 21.105
Total Sales 476,318 450,928 419,176 4402,476
In addition to providing electrical em.rgy for customers in the City: the City made 0olesale sales of
electrical energy to Brazos Electric Power Cooperative Inc, and certain cities, 4g.1repurig 13,375,600,
` 51,211,000, 42,'179,000 and 1,615,000 K'JVII during 1975,.1976, 1977 and 1978, respe'clively, the Avenues
C received for such,eoies during ths,same periods were.5176,45J, $700,582, SSW,563 and X45,465, ;espertivety.
the following Fhart prot'4q information, for calendar year 1978 for the System's ten largest
customers, in terms of both peak demand and annual revenues. These customers take,ttogether represent
30.9% of the 1978 electric revenues from sales,
. L', t,71f,!, I! 1111.
As
o. 4
DENTON ELECTRIC SYSTEnI
TEN LARGEST RETAIL PO%%TR'C'USTO.%IfRS
1918 Peak 197$Anneal
C'sWOmer (len+aad KIN Itotape%
North Texas State University 16,235 $2,980,889
Texas Woman's University 5,092 912,851
Acme Brick Company 2,481 4414*''
Denton State School 2.407 333,554
Victor Equipment,,..,.; 1,932 292,238
Moors BusintsS Forml, Ina 1;629 260,594
Ph64haJ, Divli.lon orAmUacc t 181898
r,r' F
Morrison Milling Co. „ 1,008 826 ' 12lw276
Westgate Hospital 824 127;197
Flow Memoris.: Hospital I.... . ..r.,, 121,352
TOTAL.,,;,,,...,r. 32954 57573
STATISTICAL DATA (I)
r
Vest Eade1 Seplf"If 30,
1979 1977 1976 I91S 1974
sales or KwH; /'d'INI,r r Y !t, l;1t.;/.: r; ;s .
Rc%itlentipl aM1,l.r .7f;i„ t u;•b!• 148,9!2,906 173,951,296 112,7WJell i05,?0106,250,5I1
Co ~q(erciaf and lndvslrral,,,1 o t'+ ` " <51,59 $ )0267)198
2
493,016 833 2 ,1 67 91 W-1 5,273
r 28,9 ,119 100,856, 1 381, 70,603 37,565,784
784
MunlcD'a Siree{LI hilnj„t, 4,771,882 5,224,322 5,256,080 'r1'tS,106,178
Other(rtsateI...... ) i r I 19.9'4.403 39,534,50? 64,274,21 9 d2,)1~,145 I 122,510,)00
TUTAI. BILL 110 4.16 ,33 808 , , ~.8.;: f i 3 3 18,r. 202 262
Loss aad Unaccouatpd.......t.t y (1 13,046) 13,669,069 18,229,741 24,4h,248Q,, ,:1706.949
Total K}y'k IoSys orn .............t... r 476,11S,C43 509376,042 488,617,03! /T3,019 ~ i cS13,089,211
6LosnandUnvccountcd.... 3.07% 3.73% 5,19% 5.441
I
Av'erala C4slontars:
Commercialand l 111 12,931 _ 12,445 11.581
11 841 51,030 10,850
nduxtrial 2L 241 10 2,254 1,038 I,tl2V
Total- 15,534 _ 14,K31 IJ,068 t2.679
Peck Oa} Po%cr Reyulreme 1.1.,5.1 114,000 112,000 106,000 IWf" 105•000
PresentPlant C'apacity„ 186,580 186,580 186,580 186,580 1X6.580
Anaiysls or Lkdrie 8iWal:
AH Cu:rontem,
Average Monthly KWHperCustotrcr.,,.,,, 2,423 2,406 2,413 2A32 2,350
8111 per Customer $93.43 SP9.K9 $71.81 556.81 . $42.54
Revenuc4xrkt'vll.......... 5.0385 $,0373 SW0 $0234 5.0181
ldrilJrntlol ('nuun:rre; ~ '
Aveiige Monthly KWll per Cuoum'cr960 897 8I I 195 916
Bill pcr Customer $42.13 $37.90 $29.81 524.51 519.75
Rcscnuepc5KYvlf..,.,t.. $,0439 5,0423 50168 5.0310 5.0242
C'uiunrrrchd and !ntluar4a!
Avenge l ionthly k W I I pcr~31tun)er 91690 101PA14 11,192. 11,4.10
Nf or' usiumar $348 27 , 5338.33 $288,69 U.N 29 101.70
Reveiiix "ur ItiWi(. 55)59 S.0S5f 5,0270 $0205 3.6155
fi rt,y Imonle,
itesidcr ual „ S' 6,575,W S 3,660,43.1 S 4,143394 03 23f,851 52.372,051
CornMerrlalatidlndwtnal: ..I 10,978,635 1063,04o 7,191,381 S.6%,377 3,000064
Municipal andSlreelIlphiinp.,,. 941,111! 790,527 539,211 268.138 241,664
Other 247,781 894,27! 927,915 3364611 501,263
518,643,474 $17.708,27! $13,405,013 $9,513,069 57,219,244
(I)Enlimated - Subject to change.
19
r
.,V s~-lam
EL'cC i RIC RATES
RESIDENTIAL '
(ERurire September 2, 191st
Months or May through October,
First 50 KWN
Next 75 Milo $3.15 (Minfrnum)
Ntxl 75 KWlI .0409 per KWN
Next SOb KWk •0.301 per KWII
r , tit-. .0256 per KWN ~
Note: • :when usage exceeds 700 KWN! Pet P106th, billing Is rendered at a fixed cost of $4!40, plus all
KWN ti4 SUM
p~, rirVH: f ;c ; {
Ttonths N ,r r ,
4~tr Ihrougl Aprn:
irsl SU ~
ext 7 "K ip $3.15 (Minimum) y
ext .0409 per KWfj t
t
',030!' p!r' KWH
; '~li addit1onuh t V,, , •r 1 .0256 per KWII
ur f;,
Fuel Ad usI 'ey Clouse
All charges of the net monthly tale will be increased or decreased 50,01095
50.01 per KW'N by which the average cost of fuel us 1 t per KWH for each whole
of purchased energ during the Galen;tar month nex ~c`c Ing sbe i11,e8 mro J,~ ~ltc iti 'spl f7f7
4' r µ h, . , i
coo
KWN; Stlcfi BGe`r,I Cost Wdit6ffiIn6d Us oh the's'6'm'ofheY'KWN generkled in 'ht MOMS pe
the p XWII r purchas ed during tech said month. The cost of purchased energy does not include demand charges
for uch40 'p'bfsFr or ,el"W charges for facilities.
Pf*cled Loads and Resources
The projected loads and resources of the System for the period 1978 through 1987 fire presented in the
following chart as determined by the City,
F'ORECAS7ED PEAK l.OADSANDRESOURCES IIN AIEGAWATISt
Yet 1 Reserve
Peak Leads Rcsourrn Ntsrain (%I
197$
1979. 1. 114 179 36
(980. i I 04 179 26
14 1 1. . ( i. 141 119 to
1982 1
i 1' i :192(1}' It
1 fib 267(2) 45
1983
170 281(1)' 4+
19$4 ,
1984 181 281 3S
19NG. 193 i ,281 27
IP87 206 281 1ti
1968 219 236(3) 41
233 336(3} ,3
0)'&Manche peak particidati6n: 134'kAV In 1981; 13,4 MW In 1983.
, (2) Kcnecls participation in, gibbon, (;reek,, 75 J►),W !41,1982.!
(3) TMPA unit scheduled to 10 Year- 01PItalimprdvemint plan (Denton share.751JNW)
20
Summary of Operations
The following table summarizes the operating results of the System for the years ended September 30,
1966 through 1978.
Year
Faded Net Mailable
SeplemberM, ! Revenue Elio~ fee Debt Senke
1966..... 1,.,, ,,.'.,,......r....... $ 3,072,862 $ 1;291,050 31,781,212
1967 . r.... r r.... 3,167,023 1,468,373 1,698,650
3;289,834; t; i 1;579,948 1470906i. Vii,. rJ,. h•n., a.i fJLil.r/~ .VJI
1969 4,001,273 1,730,5081 21270,765
1970 4 591,880 2,102,430 2,489,450
1971 5,034,460 2,252,483 2,782,477
1972..... 5,661,266 2496,111 3,166,155
I!> VI l
t Il;i ~
1975 .....I'1 iR tt , 6,479,095 314 . ~ .469,830
1974 7,416,123 3 31
~ 51, )469,372
t~ t 9 76~ 787 614'11:~ 64 )287 120
1976 Illy/,. „ 13,669,854 9,6fS,631 1 4,054,217
1977 ...,r...r. r 17,942,976 12,673,316 $ 269 660
1978...r,r..... 18,960,745 13,593,129 330.6'la:not.:/
"I 1[• !r i1 J 6 Y l 1i 'ill 1141
I~roi4l~c~I~'n wrC14111ei ~n4 Ynf r~oFtn ,sold ' ~rn~rtn'~r~i3
I J I, J.f~ )rl t'- 'NI0r ( r,m'01 Itl it W""'! 1, 1,
1 IiN~ ~'•1'. '71- pre,=ept,stgduct'ton kclSrier o(ithgSy4S~o?,f,Q'~s'sl o~,t59 BSrlefating unfit described; s followN /r,1
"117,1 i J! r!l 11r'1.f11! !'17:'I'"') t(•1 11. l"r 'l i
Type IVo.of['nifs (ip flytlkWr
Diesel 5~' "iS1 ' "'12.633 t 1~,t,.t>>rt
Steam Turbine 5
Unit I 12,650:
Unit 2 12,650
Unit 3 22,000
Unit 4 til,162
„Ynit S _ 65tW
10 186,580
The City is a member of the ,texas Interconnection System. an intrastate netwotk,or six major
investor-owned and four, ppblic systt- rIs, and of the Electric Reliability Council of Texas (L; COT), the
regional Reliability Coordinating Organization for Electric Power Systems in Texas, The City,has secured
additional capacity through its membcPhip in the Texas Municipal Power Pool, which include,$ the cities of
Bryan, Garbrid, Grcerlvlile and Denton, each of which has its own production, transmission and distribution
facilities, ,
The Texits Municipal Power P4, 9i contract provides that each member city shall provjdct through its
own facilitiel or through farm power, Font racts, a capability at least 15% greater than its projected system
beak load for each future year, The Method of ioad projection is uniform for all members, end the costs of
Pool facilities necessary to provide adequate ties between the members are shared by all the participants. By
"tooling" the roct rve capacity, theirlpApectiveIsyslefrls,, the cities can, operate sarcly,with conlldfrably less
installed reserve power supply , thereby eNctingg substantial investment end dpcra l,g economies. Other
advantoges include an adequate and depefidiiW Ati(cf of ~oacf during t)OWs of in,Adual e4rigenty and
maintenance lif power during periods bf st:Wuled,unil maintenance: i 1;i ! 1J
!i
71-
z 7
Future Senlce Requirements
The electric generating facilities of the Syslem could be expanded to supply its elcctrA0;0orsdr
requirements through 19$7 although a report prepared by management consultants on behalf of the city
concludes that it would be uneconomical to do so. Further, the System's generating facilities are, now fuclcq
by natural gas, and the Texas Railroad Commission in 1976 issued an order that all electric generating plants
in the State must on or before January i i 19$1 agd,on or before angary I; 198,5 redp,4e tbeirconsumption of
natural gas by 10% and 23%, respectively below their 1974 o. IM' level of usage, whichever was greatsr. A
recent study completed by Black and Veatch (the City's electric engineering consultants) concludes that the 3
largest steam units cculd be converted for 100% operation using #2 diesel fuel at a cost of $40p,OW. ,
In order to mat the requirements of the Texas Railroad Commission order and to provldc for
additional generating capacity, t, a City, to&ðer,wiih t!sece other,Texas Fitics, }Bq. Ciarlatp a:„
Grecnvillo, orga"rized the Texas Municipal Pbi~etr`A'je'a$y kc isEvelo~ s''t~'electrld'ersergy'g'enbreting'system
capable of meeti,tg the needs of the four clItes through 19$6, A major. part, of tl4is system involves the
devclopmcnf of r,,06 niegalvatC lignite fuetetf s{tartl''electrk $,tne "rating plant and the achulsltidit'of a lignite
strip mine and related facilities adjaCtdi tc' 16' laht; fhe'total 'cosl of this' 1project`Is`4"t6ated at
appre-rmately $786 million. To date the Agency has issued $300 million principal a oust tjf its revent:e
bonds to finance the initial stages oR the project, sffld hi curfc>itly fn` the'jtFot'ess'iff i3snfn~tai~'};dditit5All $300
of Bonds to'~ nilnue construction of trio facility, '
It the, ency,enmp etese prp'ecl each ~of5the fqqu~ citlcs~will be required, y de 4power rchase
contract already efltered 11111 o', ~uf$ 44 frA the Aget£cy'alHii eid`'tr~: I tilt+g'b'feiiSen~,iri9cess of
the amount supplied solely, with certain exceptions, by the geric'4414 66tties d+V~t~l~ b~''i["W"O -1wi
1976, and byJa ilities in 3) c~ the * t cra +o of tl trical e~ erkv is incidental to sot'd asie ispos I. The
consideration fo ~gilch 64~ lflhe c~as 6~ it hroV'thZ`f'Otir'c~ties 1's ris kh r jrtht rlptr7Cy`a costs, Ir4 lading
debt service, based on such city's proportionate share of the total electrical energy requirepp~en~} or all foulf
cites, which in the City's case is 20.34%. Said power purchase contract considers each'cl y s"btS(pion"Ib
i4 We payments lhtredhiler'an[ripethdti$1Aped§e'oflts'eldttrlesystem payable front'INtevehuckalld4ceipts
of such system. The cost to each of `tW6iti& woltld be iWcased by its Int:reased O.alrlrW opchilrig the
fa,:ility (other than debt service) in the event one or more of ti;e cities meet its obligations under the purchase
contract. The Orilr9clcuntaing'ptvvlslo6s'for, dMong other 'hiltgs, the'approval'ofd+tute~rojects`orthe
Agency by the cities, joint approval of budgeting and operations, and allo':ation of the Agency's power
output in the event of shortage,
i
I; 4
.
S l °.i+; M. i r l.;~~x e ~ t 5 ~ E ~ u' N ~ 4 ~ ri',.
THE CITY
Location
Denton Is the County Seat of Denton County, located at the apex of the Dallas-Fort Worth-Denton
industrial triangle,
The City covers an area of 33.2 square miles and is located only 38 miles from downtown Dallrs, and 36
miles from Fort Worth.
F,con~,fiy
bcnton it i , .
In the midst of a rich agrieulttir'al and livestock area.
'the hub city of Texas' new "Land of Lakes" region, which provides Denton and neighboring cities with
pbunlant.watyr for mU' *ipal, industrial and ~recre4lW41 pyrpose,s,,
,
C InV or, the. three rna o•
f drliver~ity fe lyri tn' [Fe`xes.
r
The home of diversified industrial Interests.
the syte,`gf the Nation's fjist uridereMOd r;oo)iol Center'of the office of Emergency Plannin~und
4ftice.o Civti and Defense Mo7~thiitirop
1.; )
'One,ot:he key ctieskln tote e~Ipo,mlc ~ly aignil'itanCdalias 5land,4rd b;ctroPolrtan'A..o,
FCOnomlc Itanking
Denton's sound diversified economy; is reflected in the. spendable annual income per household,
estimated at $15,021 as compared with the State average of $14,480,
Denton County's Effective Buying income for 1977 totaled approximately $588,459,000..
Denton County's retail sales for 1977 totaled $374,158,000.
Over 93,2% of householdp had cash income in c%ccss of $10,000 annually,
Economic and Population Gains
Denton has noted a consistent population increase and a steady economic growth in the last three
decades.
Population at the 1940 Census was 11,192 , , . at the 1950 Census it was 21,372 . , , at the 1960 Census
it was 26,844 . , . and at the 1970 Census it was 39,874. The 1979 estimate is 51,550.
The City's ascension toward a top rung on Texas' economic ladder is attributed partly to the steady
influences of governmental activity which includes the year-by-year expansion of the two State-supported
universities, and partly because of such environmental factors as its location in a rich agricultural region,
some oil and gas production in the northwest section of Denton County, its inclusion in the Dallas•Fort
Worth Afetroplex, its proximity to three of Texas' largest reservoirs (Lake Texorna being only 40 miles from
Denton), its excellent highway and transportation facilities, its mild climate, and the less tangible but
influential aspects of social, cultural and educational advantages that have prompted prufessional or "white
collar" workers to choose Denton as a place of residence.
23
n Zn rr.M~ 9t ~ • J • ~ • ~ 7 7t
q,nHiC a u` Jr 'F`,F! i~1 ~ y y
Industry And Business
A total of 55 diversified manufacturing plants are located in the City. Some of Ihe'largeSCare as
follows:
humbftr or
Product MPtoyen
ComP+is7
FIR%IS L;dtptAYtNG 200 OR MORE Business forms, sales books, etc. 585
Moore Business Forms, Inc.
Victor Equipment Company Welding and cutting equipment 890
and pressure valves
Russell-hlewme.n Manufacturing i50
Womeni and girls lingerie
Com'¢any ^ 135' ,
losten's, ! nc, School class rings '
1 FIRMS EMPLOYNG 100 TO 199: Brick and file 204
Acme Brick Company
Mu)t,r.c~lor plastic parts
Emconjte - 143,
LPG Juoltanks !43
T,~{in}tyy19 91~ [ 1^o., it 'r and corpmeal product!
Morrison tlltdg mpany
lot making acnes , 215:,1
pa;ly
m hi
w 25.
T4fbg Rofrigcratini3 Corn,
Denton Record Chronicle tewspaper ad prir,itng
EtttMsEMPLOYING 50TO99: Trailers go,,
Transport Systems, inc.
Ohio Rubaer Molded plastic parts
Jagoe Gonstruclion Company Asp}taltic concrete r; 50:
Fteiab buildings,,. S2
E3eamen Company
Total labor force employed by Dentep manufacturers exceeds 4,000.;Total annual manufacturing
payroll is estimated in excess of $25,000,000•
Sixteen new induslri etron titensarca du i ge hen1970's'tespecialty, theuDalglas•FopttS Woreh Regional
the development of then po
Airport, it is expected t`rat Denton's inditstrtat growth will accelerate significantly,
Moore Business Forms., an of intertiational company,
siMc~ from Texas to the Eastern Sc board Moore Business
Denton. The Southern Division consis
forms is recognized as a liiader in its field, and is IIIc oldest and largest company of 61s kind in the world.
During 1969, the firm completed a new Division Headquarters Building containing 42,1100 square feet. The
new facility is located on Interstate Highway 35E. Manufacturing aid rroduction facilities are housed in a
separate structure containing 143,000 square feet,
Victor Equipmen'. Company completed. a 95,000 square-foot building daring 1966 to relocate in
Denton from San Francisco. A 00,000 square-foot addition to chops and offices has recently been completed.
Kolmar Laboratories have open. d their new plant on 30 acres of land in Denton employing 45 persons
in a 40,1')00 etuare-foot building in the manufacture and distribution of wholesale cosmetics.
Acme Bric: Company doublei its production capacity in late 1965 and is now the most modern,
automated brick-making operation in the Southwest. Acme produces in excess of 70 million bricks annually.
24
t Y 'q. ~~i M~ i "F .2 'L119^i xt ,e nrv v'a 1" k r w v I d P
aS,
Morrison Milling Company produces Pea:cmaker Flour and Cornmeal primarily, whloh is distributed
world-wide. Most of the grain used is gro.vn in Denton County,
Emcunite opened for busines, 111 1962 and is now one of the largest manufacturers of metal plated
pl.rstics in the country.
Aussell-Newman Manufacturing Cohtpany is rated as one of the top 20 lingerie manufacturers in the
USA.
Turbo Refrigeratink Company began operctions during 1965, aMi is,.no!f. (he, Korld's largest
manufacturer of Industrial self-containcd,tcf-mil'
Josteti s, of Owatonna, Michigan, completed construction during 1969 on a new 34,000, square-foot
building.-The new plant employs in excess of 200 persons in the manufacture and distribution orschool ,lass
rings.
Mirbuilt Divfsio,t of Flatcar Corp hd91stArted'c5nst cacti Subject pa6t '90 Pic i
r of land in
Denton $elieduled production +lo eontnlifib"td NAvt<ttj r, to smen tt', , n')logy the
new pfA {l vil! employ 806 pu~rsons i~t a 3 t ,b s building assembling WdMief tdUe~tY` r day.
rl~tIndustries compl•t+~d 5 H$iJ'24, k0i'r~foot buildldj in 1968 j'nd r 6 Nkfiir additions
during 106Z ( „i f . r r i Y{"' 7 I! . t~ ,'+b1
Indatxtrlal Future t y;,,, f t
Den: ea is most favorably located vvitkih',*IJInWl'of twu major cities and Is,'ofeklalfy,'k'part of the
Dallas•Ftd'rt Worth Metroplex, This afea 66`moriie3''Cmarket whielf is gtdv4t~A'p#'at'A r§t'e'three limes the
national average. Denton is fast becomfn'g" a't4' Integtal part of this dynamic industrlat bdmp5lEi't.
A plentiful Supply of `skilled labor' Is available 'to Industry in' the Denton Ft-.ea. Total labor force in
Denton County is approximately 53,457, with approximately"52,694 `presently employed - for an
unemployment percentage of only 2,5%. There are two principal industrial districts Denton Industrial
Park idd Rayzor lttdusttial park b'blh'of which have acd s to more than adequate rail and highway
facilities', and kll dtc6iy' }utilities.
Agriculture
D) neon ltownty 'i; one of ti-ii: more.diveraihed agriculture counties in Texas,; With soil t'i pes ranging
from rich hla4k to deep sandy loam, and good soft, artesian ww+ r, it is an ideal center for diversified farming
and livestock raising.
Principal crops are cotton, corn, wheat, oars, 6z;, grain sorghums and peanuts. Dairy cattle, hecf
cattle, sheep, hugs, chickens and Turkeys contribute a substantial and steady income every )car to the farmer
and livestock men of the country.
Income from all agriculture and livestock producs averages in excess of $49,930,000 annually.
The Texas Agricultural Exp criment Station, Sub•E'dation No. 6. located about five miles northwest of
Denton, is contributing to the prosperity of not only the farmers in Denton County, but to farmers all over
Texas, through experiments in small grain research work, crop rotation, pastures, soil buildipg, contouring
and plant disease,
25
`':JRtM t~ R f Y
3 7
•n yyn ! . + f i;~
1
N II oAprCy,~" J+
~~b, psi. J'H ~ j~ 1
Now is the'site'bf thi fiift UWtrgraa6d Cobt;tbi l'chter'lo'bd boil; by the Fedttli: ootmertcineni to the
' unite'dStafcs:'Tnis`ttiiltr"ii+a3'e;3tnpleied d~'~''eost'bf 52,400,000,; i • t.
"'-'It. i dinsists of 6'AboV"406bod "fret teible" butldiAS, fors 6tratka^ahd exit dwing normal operations,
and a two-story tr kk1kround f6ttfess,141 feet wide and 172 f0k lohg` The'structure hAs liq 6vrh water well,
an infirmary, first aid station, Arid commun6tions htadquarters. Site for the structure is about three miles '
easi of Denton. h II )r..,,.. 1
The huge underground center serves'Regiorl 3 Headquarters for''the office of civil and Defcm!
'mc,billza'tfnn and Is &sig'ned lo'relist nuclear blas(srid radta(ion, Region 3 consists of Texas, Oklahoma,
Arkith`10, Louhla9 ' '
! ~ btun"pFCMolrlkOl, '~•fir i•^.a tf J,j 4, s+° la y;'trl, is3 Ypik~~)r,~~=g,1E r7 ''+~y'dJ ~-t
i In'time of eriml,ency the center wiiill,house theadministratnrd perapnnel of 16,000 fcdtrai employees in
Dallas and Fort Worth, In the tvlrntof a aAtional emergency At ttnter would serve as the coordinating and
directing point for the activities of some 235,000 civilian emplo -ees of the federal government. It will house '
?d0 persons op O, I
ls, 4 SpQ p~ p 3 dAy, emergency, "buttonal yp 4aets
t r,fr a, r f..1 , 1,'.111
. . i rJ
The control etnter eri t str i#'a ,r { Y , 1 R ,t l+ f / .
p,P ~3,f jjtP f°pla w1i)1Y annual payro to tzc~i
~ r~ sportatiioo 41st: ~+rntl Qa:•+ f, 3'lfc.t:irryt),1'.}4;1 }J/ ~
lit(✓tkIn if} 1a11Gi1 3 t~rr
Denton is l4ietcdonly•Igtpilpsnorthdastor tf#eDallas fttWorthRegionalA'**port.Thisdewttt 1'y
egan of rationsirt lanti~4y,19)4: it is the largest, Aitport iA the United States, second largest in the word,
`rtl"„ et ~ represtnts an irtveskment rrj excess of $700,000,000 '
t t` . x r'°~. h)K:.r1,~ 'Ftftti?; SrU#n'}(t t1iJ1 inn rli, tl~
Denton irr the t'ocal poin49rAK flew lrewitalE'irah"yr$ysteht (Us., 35-Eattit i,S)^39.WpL1 S. 35.E .
`toll &071 Mtdii *hh ballak;arnd,US235=W'64i,t14 F'bYl:i r~h1 {fnl „',.t,°~Irnr1 viii E o,>.Ly irf;xtra i
i',dIP ..S)J'~ 9}M~J7 N'.tri tin K,'c +rl ~~4 JI !'t:l f. ?'r cep r`,i tl. ~15rJ) C.'~ f'r l5'li ri,i;. :r. is .t~r< Ile„illy
The east and west sections of the U.S. Interstate 35 form part of a east network that begin at the
Canadian border on the north and traverses the entire United States, to end at the Mexican border on the
ild8'th. North from lkntorl the hlghw`ay candttts with OklahdAta'City rend t
hehee:through tht Midwest.
. _ ' Ni r.l i:i "~tiCi i i• i b(,.I 1,; '}t,c y
Rail transportat'on is furnished by three railroads - Santa Fe, Texas and Pacific, and Missouri.
Kansas-Tctas ri ems IratispbrtAtion'by CohtlnenlefTrailwayts ill',.' muter Night +by'',twelvt trucio, lines.
. ~ ,f i11. Y. ,1`i ° :rf . `,j ~,r / :l.r:.ft7 Yri•{
t.Ou.A~IOn 1 G.' ~ i~i iJ1f ' i ,I~F.l ,JfJ: f{J11 3. <r,;i
Denton Is the home of ~ bdlh'1'exas Mkei 'tJniv'ers`t~j~;fllbu ctd$ri i ~tl; ~iidTFx s' Wo ali' Uni'reYSfiy`,
founded in 1901.
fhc luo colleges have :i combined cnrollhient or approiiimatcly 25,E 553 studs AN, and Mori than 1.000
faculty, members.
More Than 16,000 (Spring; ;978) students are enrol(dd in co-educOtional North Te•&4 State University,
rh, univtrsity has a Kerr cnrollnieot'thdn Southern Mcihodist University 5t Dallas, Texa+ Chrimhso
JniNcrsiiy in Fort Worth, or Rice lnstiiutt Jt Ilolstbn.'Texus W6man's University has enenfoflment of
8,719.
e
North Tcxis Sla,.e University campus comprises a land area of more than 359 acres and sixty-nine
buildings valued in excess of $62,000,000. The University embraces seven academic units of colleges and {
schools, and offers 8.1cheior's degrees in 66 fields and Master's degrees in 113 areas. Doctoral programs arc
in 45 arias,
26
i
f
i
R r ~~.~jr "fit
+f^l ~~ti: j" f i r w ri n r r,,, c
Texas WomWs University, `a State-suppated institution of higher karei! i has'compttged so
extensive building progr4mr' emphailmd by, three high-rise sirgdures. Thod are, , 14-story of.(Ke and
classroom portion of the College of Fdueatiott.(openod.in,1968), dl-rytgry dormitory d<~slgned to b)IQ 64Q
students (completed in 1967), and a 24-stolry dormitory designed to house 707 students (completed in the full,
1969). Academic components,are embodied ip cight school),, $cience research programs are coridugted In
chemistry, biology, physics, nutrition, textiles,, bone mi-croradiology and,gther relayed fictds.
Over 400 Denton citizens hold earned Doctoral'degrees.
Denton has r,n outstanding Public School System, accred:ted by the Southern Association of Colleges
and Secondary Schools and Accreditation Division, of the. Texas Education Agency. Approximetely 69% of
the graduates or Denton Nigh School go onto college, The Denton;school system, Offers,accel4(ytod
. programs in such courses as S.M.S.C3, Math an¢ P.$,S,C,.Physlca. A fe~v t; the< rocational,tt4lnin coy" abailable, ln, $ublic khAi are'airleyllure,l homemakiog,'•diltribudve
ediiCation, industrial neat€on,
t
mechanK,%€ drawing, woodwork, etc. 67% of, the faculty hold Master's degrees,
Number of elcmeriteiy schools 9nroltmeni In 3ctioof tot exceoil6nyl
29
y; Num Qj/f un Or high schools } 2 chp"ildyrepq
Nn~ojj pWIO r r-' 1)'J 11 '1' t'
lAverage'ituden'ts per classroom 126 Elementary 24 1 i'-
r Average `numbeiofhighschool High School ~fadaalit ";,!I' ',lrr, lass Y ct t!1-,,,W 22$ 1976 FAtollnibnlr s r t;. ? 44 't g,3b0
;.I T~K 9f{r ilr '!~~:d l,ir:'ak, x±!1 t~.;•i ~:1~P is 1,, X11 dl ~~7t17 '~.1 ~~t ,(W~~ it ri, ..~y~
S€1,000,000 Denton Stale School txut~xx !K~"~ Y r r'rrl ,~e t.R.. r , :e a
1 Got+sittrctillrk began,' rt. €9Sg. do t1re Si 1,i100,QW At11;.aD;State sS04'~ with ib,t'- fixyt phase of 01e
construction being completed in July, 1960,At,whlch;tiow thG;first grgup,gfjovrdentl was adltliltod., ti
second phase was completed In 1963. It Is one of America's most modern and progressive Wucati.~nal
This $towsupported educational- institution for,rnentally retarded Texgs.residents is looled on a 200.
acre site paid for by Denton citizens,
1;= ; I I i„ ~ ' : I .1 r: ' ' .,_!r:'r r ,1 ;r
Present facilities €ocludo, 47 (including outreach, dorms) dornutories.whIch accommodate more than
1,188 students, S buildings for physically handicapped children with a capacity of 600, ared a 32-bed acute
hospital with supporting facilities such as X-ray, laboratory, dental, and pharmaceutical. In addilion to, these
bu,i1¢lnSs,,Acre,is a modern, administratioq building, an acade{ttic byilding, a large laundry, p mrs;nlsttance
shop and a warehouse:
The School has a start or 1,761, with an annual payroll in excess of $13,728,948,
Banking
There are five banks in the City First Denton County National Bank, eslabbshed 1492 r:. First
State Bark, established 1912 University State Bank, established 1963... , Western National Bank,
established 1963 Citizens National Bank, established, 1976.
27
t ; ~ • ~ l~s~sil
Combined bank deposits
I
1967 S 58,321 018 1973 S126,209,608
1968 70,415,202 1974 131.018,000
1969 72,841,000 1975 140,747,770
1970 93,547,695 1976 167,805,992
1971 98,056,362 1977 175,006,073
1972 114,161,439 1978 19$,908,000
Two savings and loin associations had combined year-end deposits as follows ,
1967 $26,654,055 1973. S 63.5114,046
1968. 29,092,993 1974 564202,415
1969 , 32,371,040, 1975 r
, 6 101S48
1970 . .1812620550' 1976 . $d h~8471
1471 '40,441,640, . 1977 r '44,16$,257
1972 „ , ~SJ,6!»,053 'r 1978. Id~,901:284
x Nearby Garza•Liule Elm Reservoir, one of North Texas' largest lakes, is one"yf cxas' most popular
recreation areas. The Garza Reservoir, has a shore line of 183 miles located catirely in Denton'. County; ,
Garza Reservoir attracts over 3,000,000 visitors to its shores annually. 'AN-. upper ;caches of Gaiza-
Little Elm are only about 3 miles east of the Denton City Limits, while the dam is 15 miles from downtown
Denton.
Grapevine Reservoir, another large body of water created by the U.S. Army Corps of Engineers, is
located in Denton and Tarrant Counties. The dam is 13 miles from Denton.
Parks and recreational areas abound on the shores of both Garza and Grapevine reservoirs. Boating,
fishing. Lunting, swimming and all water sports are the favorite recreational pastimes at both reservoirs,
whim, because of this area's favorable climate, are in use the year round,
28
GROWTH INDICES
('alcnd4r Bo9ding Gal Niter f Light Postal
q.;r PFtAite Meters Meters Meters Tdephon i Reeelptt
1961 S 8,335,000 8,900 8,416 9,035 11,394 $ 411,118
1962..........., 8,426,072 9,100 8,850 9,500 12,580 450,427
1963...,....,.. 11,054,869 9,466 9,106 9,954 13,659 543,088
1964 9,533,287 9,630 9,245 10,047 14,589 594,691
1965.........,. 14,340,069 9,980 9,495 10,073 15,600 622,357
1966........... 13,108,207 10,193 ' 9,541` f„ 10,576 17,100 685,616
1967,,.....,,., 18,859,623 10,301 9,750 10,759 18,403 864,618
1968.........,. 15,910,010 10,602 9,950 10,814 19,865 963,348
1969........ 15,704,677 10,747 lQ,114 , 10,909 21,324 f 1,056,676
1970 r, 181195,423 10,798 10,17ra FI1,047 22,530 ' 01 1, 1,02,187
1971 Z1~6,705 10,860 ' 10,5 110325 238911, e,ll$,764
(tE ~'+,t,V1 , yr ,,e 1.,G'
1972 t ,50,863 ' 10,959 r , 11,03 11,837 " .'6,419 1,390,570
1 f t i,~'t
1973...... 7,860 11,174 1112 12 227' 30,288 2,12.1,5 71
, . c.t rl1..t,4.f ;•.1
1974 12.28 ,521 11,416 ` 11,5 2 12,673 '32,503 1,646,295
1975....,..... 18,306,334 11,755 11,755 13,061 33,094 1,704,74;~}
1976........,.. 12,142,334 11,745 12,077 14,117 32,252 (,41,10
1977s::~.,i;..'1; a 1 144,075'1 . 1 12490T 14406 „ i„ .115,650 ` 9 16.907.0 r1 ,.is,2146,$15
12,661' 1 f1 1'' 12,803 ~1 ;16,404 ii 1 -39,681 U ,;,'W 12,55{1,190
Gl'! t) :"I. .7 I +I ' ,,.I} .fit. a=,'1 'I 7 ~ N]i~,;t •711 ;7;„'t I s. r.l
-ar rl' 1~'r,11'.~1'i ,..~i 1j; til ,'.1I., 1 1 -
!'l~f
29
is l a,
ELIGIBILITY AS INVES MENTS
The General Obligation Bonds are legal innostments for sinking funds of Texas counties, cities and
towns. They are eligible to 'secure Texas state, county, city -and schobl district funds and constitute legal
investments for insurance companies in the State of Texag. No ~wieiv ha. bzeri made of the laws of states
other than Texas to determine'%hether the Bonds are legal InvestniL,-. e k various institutions In those
states.
The Waterworks and Sewer System Revenue Bonds are legal Investments for sinking funds of Texas
counties, cities and towns.They are etigiblc to secure Texas state and school district foods,'ahd constitutc
legal investments for insurance companh* In the State'6T64s, No revieiv Isar been made of the taws of thb
slates other than i c as io determine'Oethee the Bonds are Lgal Investments for various institutions in those
state's.
RATINGS
Aypltcatio s for contrac ratings, o then. Issu avc
, . , } r; • . , ; , ~ , 7 e¢ been ma CIO oody s Inv ors ServSc, Inc.
end $~a~dcsY;~~ggta ~o? r tl n ~ ~ ' ~ ~
Ipo a one Alp ar foi f li signlic ace o }tfi;t~rt m3'~e 65talned
ro>pJ~e company lurrhshmg to rat P~ p ratrn~s re cct o71~ t e desvfgrs of ifuc 1 :f~izaft8il 1,
nd ~ eR4;t~ fiakfs no re re r~ f tidh ds to ~he e~pfd~rt~ b~cl3~Ct ~ tTn r;'~ISt ~~'as31! •~t~l~~t`,'s~Sir~ J
raltn r wt ! cOnE tine' r~ n~ ~ vt'''' ' n , " ; ,
B,,,. (q y $ n.pef~ga of't m~ ~r ffa{ the 'will t bd f t 'd tvitvi<~"' WithVii4n
l'bo a<., ~ ai z)•w rt ff1%U d'~iit < < i ~'!7t a n ~ 7r r
entirely by ether or t v ~ucli`rating rsompantes, t~ rn,~th y{t gfrteti~', Keltl r or-ol M4iwfn( v
circumstances so warrant, Any such downward rovlslon'or wilhdrawal'~f s$c~.''raciri is, ~i Al d 9i Afrh, shay
have pn advelse,e(fect On t1>e market prise o~ 4hy,Bon~S.
,r lt.' t t
~ , • ,i t .il :'i r l~,~,~,f? 3 r .t,.~ ~ /li! s .~r~,q 1 3~7~!; ,
The delivery of the Bonds, is subject to on ppinigp of j~3,essn, iy~c~all, Parkhurst and Horton, Bono
Counsel.to the City ("Bond,Coyrnscl"),,to the effect that, intcrest on,thc;Bort¢s isexempt,lrolp all present
Federal incomc.taxes under existing slatulei, rulings, rcggyations and Fgyrt decisionj. The Nwa, regulations,
court decisions and administrative regulations and rulings upon, whjctt the conclupion stated in.-,Bono
C-d;,.,. I's opinion will be based are subject to change by the Congress, the Treasury Department an¢ iater
judicial and administrative decisions.
r't ilt/r,~;t !%t !!t ilt tE~ f'!Sttr"till
REGISTRATION AND QUALIFICATION OF BONDS FOR SALE
The sale of the .Bonds has not been registered. under the F tint a urlh s Act
..Sot. S F. a 4f. 19j~. as amepdcd, in
reliance upon the exemption provided ,thercunder by S Aron 3(aXZ); and the Bondi shave tlol. *9 qualified
under the Securities Act of Texas in reliance upon vapoa;s,c~xcmptions contained therein, nor have the,;¢onds
been qualified under the securities acts of any jurisctiction.IThe,City assumes no responsibility for
qualification of the Bunds-u.nder the securities laws of ar,v jurisdiction in which the Bonds rang be sold,
assigned, pledged, hypothecated or otherwise transferred, T'tis disclaimer of responsibility for qualification
for tale or other disposition of the Bonds shall not be construed as an interpretation of any kind with regard
to the availability of any exemption from securities,regis)4ation,provisions.
LEGAL OPINIONS AND C'ERTIFIC'ATE
CONCERNING LITIGATION; PENDING LITIGATION
The City will furnish a complete transcript of proceedings had incident to the authorization and
issuance of the Bonds; including the unqualified approving lcgal opinion of the AltorneyGeneral of the State
of Texas, to the effect that the Bonds arc valid and legally binding obligations of the City, and based upon
examination of such transcript of proceedings, the unqualified approving legal optni,Qo of Bond (uunsel, to
like effect and to the effect that the, interest on the Bonds is exempt fr¢m',Fodera4 jgco*,taxation under
t existing statutes, regulations, rulin$sr end court dccts}pqs ` i .:ust4mpry ; Iogin; pappml inflyying a
certigcatc t0 the effect that' no lit gattorl o( gny.nature, C1 11 as,eigl4cr ~crib~d, ~ast(xe rled~or is
30
then pending to restrain the issuance and delivery'of the Bonds, or which'would affect the provision made for
their payment or socurity, or in ary manner ;questioning the validity of said Bonds or the coupons
appertaining thereto, will also be furnished. On July 14, 1978 the case of Con Fdwarda vs. City or Denton,
Texas, was riled as Cause No. 78-1462A in the i'iistrVi Court of Denton County, Texas, wherein the Plaintiff
sought to have the Court declare that throe of the rive members of the City Council had vacated their offices
by virtue of having become directors of the Texas Municipal Power Agency (a separate governmental agency
created pursuant to Texas statutes to supply electre power to Denton and several other Cities), with the ,
result that a quorum was not available to pass an ordinance. Judgment was rendered in favor cf the City on
January 4, 1979, and the Plaintiff has frlaJ a Notice of Appeal. A similar case, Blasdell, et al vs. The City of
Denton, Texas, et a$ was G1ed as Cause No. 9258 in the County Conti at.I 9v,of Defitq ,County. Texas, on
August 9, 1978, seeking to reclare an ordinance invalid on the grounds that .v majority of the members of the
City Council had vacatca their offim, presumably bocause of having become directors of the Texas
Municipal Power Agency. This Cause is still pending and has not been heard or disposed of. The above
closing certificate will reflect the pendency of the two Causes described above.
he City Attorney and 1t3rnd Counsef ark` Qf thb opiofoh that such frtigat on is )v i `OLl rttetrit ~vitls
ql , 4 ry J 11 Ir nt y i ! 1 Y r : e r
q c (q Pik 1k"t ions tha~'three r telm6r ofhe if council adb v tk1 thei ti~Ii add<f'urthej er,t'bf
! ) ~ ! I e 9 r' M ~ f. 7 '1 1 Y :,J ~ , J
the o rn~otlyt rain regal dtnq o!` the ar t!al oytco>r , ~te results of:uch Ittiga rtii would riot adversely iYr: the
<c f Ir J r r
,valt Ay, of pnfofrcf 6rirtyror the, Bq $ufh oQFtrj ot}s Erg basil{ on evergl gro4Mis, jnc~u rng i e fief !fiat
the a pG a l txas tatu}e s Pica I au ort 8 ih e merllberI orfthhee 6 ' o..+ '
P , , 4 b P9~ y 16 i4, Y Coutlctl torvir ns directors of
the iexaS ~1f~nlcl?' PoYi,~r f13enCy ~`i ~JE 7 ~r J:. CI:
,n,,,rtf r 'u J .I e I"" J ;J j: i,,l :1 1 P !
Bond Counsel wrs not requested to participate,'and Jid nof'fak '~arf; iArt6e' repahtl'ori'o~ the Noll
of sale and Bidding Instructions, the Offic
,44Aid tFo{qt, of )Ike Official Statement, and such firm has not
assumed any resporsihility with respect thereto Jr undertaken independently to verify ar,y of the information
contained therein, ex&pt'th'at, in`ilt capacity iis Bond Cdunsbl, such firm hat f0diiWed the Information
describing the 130i1ds in the Official Statement to'verify that such description:' con forms to the provisions of
the bohd'ordinenets: The legal fees to be paid bond Counsel for stivicts'rendet'ed in wtlwtion iivith'thl:
issuantb of the Bonds are contingent on the sale and delivery of the Bonds: The legal ol~iolon will be'pfinted
on the Bonds:
AUT11ENflC'ITY OF FINANCIAL INFORMATION
The financial data and other information contained herein have been obtained from the Cilv's records,
audited financial statements and other sources which are believed to be reliable, there Is'no guarantee that
any of the assumptions or estimates contained hcrein'will be fealizcd: All of the summaries of the statutes',
documents and resolutions contained in this Official Statement are made subject to all of the pfovisions of
'.uch statutes, documents and resolutions, These summaries do not purport to be complete statements of such
provisions and reference is made to such documents for further Information. Reference is made to original
documents in all respects.
CONSTITUTIONAL AMENDMENT
On November 7, 1978. Te.w voters adopted an amendment to., the Texas Constitution designated as
"The Tax Relief Amendment This amendment may, result in,a reduction of the total value of property, for
tax purposes, within the City, Generally, the amendment extends certain existing, optional tax exemptiors
for certain elderly persons to include certain disabled persons, changes the measure of certain' exemptions so
as to relate to market value rather than assessed value, provides for or authorizes special valuation
34
procedures rot open-space land used for farm or ranch purposes and for tl:giber production, exempts cCA
in
personal property not held for the production of lacome from property taxation, excludes intangible prrperty
from the requirement that properly taxes be equal and uniform, expands the Legislature',, power to piescribe
conditions, limitations and sanctions in cuntrecliun with certain of the coristitution~! Pfc::.ions con'.ainco in
the ar4ridment, and outhori#es the Leglslature'to pres'cribe'A'dil'f'e6C M tttbd sjbr the' ta'Retio'n`of',hl8i gibfe
property. -
31
y ~ ;I
I
Basic economic and statistical data are not available currently for accurately estimating the impact of
this amendment. However, should the total value of the property subject to taxation by the City be reduced
by a material amount not offset by increases in total value as a result of other factors, the City might have to
increase its total tax rate, or its basis of assessment of property for tax purposes. In any event, the
amendment does not affect the City's maximum authorized tax rate.
CERTIFICATION OF THE OFFICIAL STATENIENT
At the time of payment for and delivery of the Bonds, the Purchaser will be furnished a certificate
executed by proper officers, acting in their official capacity, to the effect that to the best of their knowledge
and belief; (a) the descriptions ane statements of or pertaining to the City conwined in its Official Statement,
and any addenda, supplement or amendment thereto, on the date of such Official Statement, on the date of
sale of said Bonds and the acceptance of the best bid therefor, and on the date of the delivery, %cfe and are
true and correct in all material respects; `,b) insofar as the City and its affairs, including its financial affairs,
are concerned, such Official Statement did not and does not contain an untrue statement of a material fact or
omit to state a material fact required to be stated therein or necessary to make the statements therein, in the
light of the circumstances under which th~-,y were made, not misleading; (c) insofar as the descriptions and
statements, including financial data, of or pertaining to entities, other than the City, And their activities
contained in such Official Statement are concerned, such statements and data have been obtained from
sources which the City believes to be reliable and that the City has no reason to believe that they are untrue in
any material respect; and (d) there has been no material adverse change In the financial condition of the City
since the date of the list audited financial statements of the City.
The City will furnish the Purchaser, as a part of the transcript of proceedings, a certified copy of a
resolution of the City Council as of the date of the sale of the Bonds which will approve the form and content J
of this Official Statement, and any addenda, supplement or amendment thereto, and authorize its further use
in the reoffering of the Bonds by the Purchaser.
JOE MttCHEt I.
Mayor
~I
ATTEST:
Baooxs HOLT
C'i/y Srcrrlarp
32
APPENDIX
CITY OF DENTON, TEXAS
FINANCIAL. STATEMENTS
FISCAL YEAR ENDED SEPTEMBER JU, 1978
WITH
REPORT OF CF,RTIFIED PUBLIC ACCOUNTANTS
A•1
CONTENTS
Page
FINANCIAL STATEMENTS AND AUDITORS' REPORT
AUDITORS' REPORT A•6
SUPPLEMENTAL INFORMATION
r COM3INED BALANCE SHEET - ALL FUNDS A-8
GENERAL FUND
FINANCIAL` STATEMENTS,- SEPTEMBER 301 1978 and 1977
3ALANCE SHEET A-12
STATEMENT OF REVENUES KID TRANSFERS.:
EXPENDITURES ANQ ENCUMBRANCES ,I,'..i~~ A-13
STATEMENT OF,'CHANGES . IN; FUND 8ALAAC£ A-14
SUPPLEMENTAL INFORMATION '
r STATEMENT OF.;NDGETED MD AGTUPE REV£NUE5; ,
AND TRANSFE .~.5 :!Y ti3. n2?vr ; ;r, i? ,•15
STATEMENT OF I OPROPR I AT IONS AND. EXPENDITURES
AND ENCUMBRANCES A•18
SPECIAL REVENUE FUNDS
FINANCIAL STATEMENTS - SEPTEMBER 30, 1978
BALANCE SHEEIS A•26
STATEMENTS OF CHANGES IN .FUND BALANCE A•28
SUPPLEMENTAL INFORMATION
DETAIL OF MISCELLANEOUS SPECIAL REVENUE
FUND BALANCE A-30
STATEMENT OF REVENUES AND TRANSFERS, EXPENDITURES
ANO ENCUMBRANCES - FEDERAL QEVENUE SHARING FUND A-31
GENERAL DEBT SERVICE FUND
FINANCIAL STATEMENTS,- SEPTEMBER 30, 1978 and 1977
BALANCE SHEET A-31
STATEMENT OF REVENUE, EXPENDITURES AND
FUND BALANCE' A-33
CAPITAL PROJECTS FUNDS
FINANCIAL STATEMENTS - SEPTEMBER 30, 1978
BALANCE SHEETS A-34
STATEMENTS OF CHANGES IN FUND BALANCE A-36
A-3
r
FINANCIAL STATEMENTS (CONTINUED) Page
ENTERPRISE FGNOS
ELECTRIC SYSTEM FUND
FINANCIAL STATEMENTS - SEPTEMBER 30, 1978 and 1977
BALANCE SHEET A-39
STATEMENT OF OPERATIONS A-40
STATEMENT OF CHANGES`IN SYSTEM EQUITY A-42
STATEMENT OF CHANGES IN FINANCIAL POSITION A-44
SUPPLEMENTAL INFORMATION
STATEMENT OF BUDGETED AND ACTUAL REVENUE A-46
STATEMENT OF APPROPRIATIONS AND EXPENDITURES'
ENCUMBRANCES AND TRANSFERS A-47
WATER AND SEWER SYSTEM FUND
FINANC ACSTAIEMENTS' SEPTEMBER 30, 1978 and 1977
BALANCE SHEET A-50
STATEMENT OF OPEViIONS',y a ' t, A•52
r t f
STATEMENT OF CHANGES lINl SVSTEK EQULfl' A-34
s r STATEMENT OF CHARGO `IN 'FINANCIAL-, POSE 'TION A-56
SUPPLEMENTAL INFORMATION
STATEMENT OFD AUI 2TW. ANO ,A.OTUW REVENUE E? A-58
STATEMENT OF APPROPRIATIONS AND EX;ENDITURESir
f ENCUMB 1'?'.rRANSfERS 71,1w A-59
INTRAGOVERNMENTAL SERVICE FUNDS
FINANCIAL ~TATEtIENTS - SEPTEMBE!, 309 1978. "1 i
BALANCE 'SHEETS .I A-62
STATE,'rNTS OF OPERATIONS A-6
STATEMENTS OF CHANGES' IN INVESTED CAPITAL: AND
RETAINED EARNINGS
TRUST AND AGENCY FUND '
FINANCIAL''STATEMENT - SEPTEMBEF' 30, 1978
BALANCE SHEET A-66
GENERAL DEBT
FINANCIAL'STATEMENT'~ .SEPTEMBER 30,'1978 'acid 1:17
STATEMENT OF GENERAL DEBT A-67
SUPPLEMENTAL INFORMATION
STATEMENT OF CHANGES IN FUTURE REQUIREMENTS A-68
GENERAL FIXED ASS':TS
'.,1NANCIAL STATEMENT - SEPTEMBEk 30, 1978
STATEMENT OF CHAIIGCS IN GENERAL FIXED ASSETS A-69
NOTES TO FINANCIAL S'iATEMENTS A-70
A-4
rn '
a
SUPK414ENU IO RMATION
BONDS PAYABLE - ALL FUNDS
A-80
STATISTICAL DATA
ASSESS'Eb VALUATION MD-'TAX ASSESSEO
TAX ASSn SM N R D. COLLE TIQ,N A 86
r 1 IIIJ~GI ',1"~[/~I/( f r ~~~~~~~~♦~nt.! f f1~~e. F. C't' -?1 r~ l''r r'7~ f 4~ r' ! Y'1 ,7Lt
f}
r1~o -111 .`~A r1}},J, tv Y. ri!
~ y 7 t a; ~ ~ , n crrt'i ,
t(IiiM a IG.~(.(:~7 t1 C.1 (1 C'rI! Qj!C'! it y~'S J41~ y ly'~, eJ'J }V'l')K F1 C xUf%,
J f ~ I~A1 (I fFf xs en w) ~Pt1~~it ~jf~Nfrlil ~ tit tatl%ci ,"Jr~0.} JY~ F%1: t ylJ.iC'J
ZC1 ff!,~f$'JtJ'If(Cl~? ILt;il:! `w tS~ f I1.c, 'r t(14tr1CY:t~
r' ;>J'1Lf:~ q.J1 Ji,rJ? 1p ~%stlJ: ~3 :'If
Z~liar'3 ,~3.kilp;~ tft~3zsl~l ui '>tir.I~ar1~IF? ~ul~v ?~~,~:~r, rlrruF'so ~'c.f,C~~'~;
".,'J:a;1.)I: fir{! i, t:1t1;3;~ f17 LN' ~7iC1T1C)~ f!()a f7.1' 7C3;i B,t , E'FfJ!!iC;9.~r frf !jLtt9
,fo n!
.
. JF"•r. lr~LrFCtr~r ~r ;xi} !c~
-"•rJY cr lir x' t ~ i~) k ~ Jan.t'~t( *a:^.tlttrsu;~,1:
JJ Ir f1.7 $If7 ,f. rl~' .
« ~ ~t ~)ff' 'r4! l_r t jl C~:1 trflif r r ~$'fl:x r. , r« h ~ s~ ~ l ~ t i ~ J, t F v., C); r 1 i FJ p'3
11F,f f;ldi. ~'~E%1 Of' T_J 1ir)1f; f?(i(' f<'l; fit: 1. 0iii
l ',lF~r,ti j
;q 'S 1 1^i7 ~ ,r1~1 tli; y.U 71 .
1 v Sl
r
~I11 lf.
o:,r~ ,ttf ~ , ~ - r f +rr,l[! ~'r~% '{I'r+r~ Jr~ .
rr; r,:n +L t F,'d sir r f r ,i.l It
r.'J 7. r_+i .7 fiJr~ 'a(1' f:. "t (1 {r~l,t 71fF fJ~f,
L
;I f% rr C l!1l.,. ✓1? ~ !C,r 1, r 4 r::, ~ .
'.J i ':.h1 i) . i i I', i F,ii i F ~ ~ rI r fl1.
' ti. a.l ~L:~,f r~, 11 , ~ ,f f~l 1,11.r
sf' r1~
j ' f -i . f f 11f f?`I
,r
I c. tr' ,
WS
r
Alaude, BranC
A COMPANY
CERTIFIED PUBLIC ACCOUNTANTS ALSKANUOR GRANT TANSLEY WITT
Honorable Mayor and City Council
City of Denton, Texas
We have examined the financial statements of the various
funds and account groups of the City of Denton, Tox§a,xor,the
year ended September 30, 1978 as listed th' the, foio&61dg. table
of contents. We have also examine. hAAs t,~3 gC#~LIE 4a t,' dents
for the year ended Septamber 30, t'JT Ii ted 'h tte '$abl bf
contents. Our examinations were made in accordance with generally
accepted auditing standards and, accordingly, included such tests
of the accounting records and such other auditing procedures as
we 4onsidered necessary in the circumstances.
b The net carr*ng'value o£ the elecyrio system utility
plant in service aas`iddreAsed to the appraised replacement
value,,As determined by independent consulting engineers at
September 30, 1967 (Note A). The recording of appraised values
ii, excess of'cost and the charging of annual depreciation of
$283,159 of~such.exaess value directly to System Equity, rather
t;ha.a to expense, is not id -conformity with generally accepted
aEccoi::>tt:ing principleN. Had the appraisal values in excess of
cost not been recorded, the Utility Plant in Service and System
Equity shown in the Electric System Fund would be reduced by
$1,736,750 and .A2,UJ,9,909 at September 30, 1978 and 1977,
respectively.
In our opinion, except for the effects on the financial
statements of the Electric System Fund of the matter described in
the preceding paragraph, the aforementioned financial statements
present ;airly the financial position of the various funds and
account groups of the City of Denton, Texas, at September 30, 1978
and at September 30, 1977 and the results of their operations and
the changes in financial position of the Enterprise Funds for the
years then ended, in coformity with generally accepted accounting
principles applied on a consistent basis after restatement ~
in the Enterprise Fund for the, change, with which we concur, in
the method of reporting transfers to the General Fund more fully
described in Note S.
Our examinations were made primarily for the purpose of
formulating the opinion stated in the preceding paragraph. The
supplemental information as set forth in the foregoing table of
contents, although not considered necessary for a fair presentation
ONE MAIN PLXX ()ALUB. TX 73260 (214)148-0100
ALti
of financial position, results of operationo or changes in
financial position is presented as supplemental information and
has been subjected to the audit procedures applied in the examina-
tion of the basic financial statements. In our opinion, the
supplemental information is fairly stated in all material respects
.in relation to the basic financial statements taken as a whole.
The otatisticgl.data o ppages 92 through 98 has been
summarized,from`City records by Mat gemployeee and was not sub-
jigQ,ted to the audit procedures applied in the examination of the
basic financial statements. Accordingly, we do not.express,,aa
opinion on such information.
Dallas,. Texan
December 8, 3978
•
A d7
City of Denton, Texas
COM MED BALANCE SHEET - ALL FUNDS
September 30, 1978
GOPiera t
Special Debt Capital
General Revenue Service Projects
ASSETS fund ` Funds' r 1 A :t Funds
Fu
( f~ c: ^M 1-i lv e V a','l.,a (1 J1.1 M4,". 10
1 &7 CaiH
$ 55,646': $ $ 403,831
Equi ty' in'` pooled cish 449,783 ` 231401'r
Time deposits and
accrued interest -
Recdvabl 32,409 1,154,08
s - n t
0529,43, 129,295 - 394,0 0
Due f 40,380 _ 621,21
'Invent ies - - r
Prepai x ensas
Restricts sets
Property, iSnt and
equipment - net
Investment in other
funds _
Amount of futu-e require-
ments for retirement
of general debt _
Amount avatia5l, for
debt service
t
$ 1,173,127 $ 2279461 $ 329409 $ 29573,150
MOMMew"MMUM zacnftft~ -.~..e
A-8
77 1, 7- 71 X77
C 1' r• r.
'
Electric Water and antra- Trust
Sewer governmental and
System System service Agency r General
Und Fund Gertef'al fixed
Funds . Fund d 'ti x 1_- A . t
$ $ $ 2229952 194289342
2929818
5,047,226
27,501 `
3,897,623 4,858 252
13,349 457,350 150e wt r~ T 6
973,485 ,94V ti!r}F.y~rr ter: ri td~~
47,379 4789443 r.,1:~trY'~ n ti
4,827 -
3 245,296 ~19282,897 .510
_ e1 Ftoy~~'t
269496,972 11, 3Ylt Lo,
714,103 „1,448,370 11
' 4, `1b 9,96.426
180o747 ?F,hu"t ,rtft+ ol !)uo
108,97f
~;rtfC: f.;j2;13c~~y),7E;;ir"A.r:Srl~
11, 520oo6s''rr.~rr,ti .
fif 1t16iy ~1t~fyU
4 868 v,ro2 _
S 41,430,419 S 13,573,008 E 2,398,952 "p" ti" Ir' z-77T 's' n;"-
S 222,952 $ 11,5339934 $ 2319f6,426
~~a rre~ it reerarra ~E •an,:) r! f ~ fl~ii Z1 i 9•f f l j
if trr•
f;
rrte... l~G'rC:
A4
ya
City of Denton, Texas
COMBINED BALANCE SHEET - ALL FUNDS (CONTINUED)
September 30, 1978
LIABILITIES, RESERVES, General
CONTRIBUTIONS, FUND Special , Debt Capital
BALANCES AND General Revenue Service Proft..cts
RETAINED EARNINGS F_ un FundsFund _,.Funds
Deficit position in
Pooled cash $
139,792+
Accounts payable and
accrued payroll 261,948 1,712 261,565
Deferred revenue
Liabilities payable 6493
from restricted
r i
assets
e1 - '
Deposits
Bonded debt and notes
uS,, i?ayable
Reservesther funds 101.07 164,619 27,541 624,782
497j345- 5,832
Encumbrances outstanding 37,946 - 347,486
Unrealized increment
in valuation of ,
utility plant in
service
Invettihent by other - -
,finds
Investment in general
fixed assets -
Contributions by munici-
pality and governmental
agencies
C^-ol buttons in aid of -
construction -
Retained earnings -
Fund balances _ 274,061 481245 4YP,6j
1,194,525
$ 19113,127 $ 227,461 S 32,410; $ 2,5739150
A•10
Water and Intra- Trust
Electric Sewer governmental and General
System System Service Agency General fixed
Fund.; s' fund, funds _ and debt _ assets
S ; 6211108 S 362.022
19659,406 61,121 90,468 222 952
"
i vrlr.:{)(., + t{1 iii Irf f11,y( ~i 4~:J1 a(~
x
MAW ; ti .468;820
....232.489 _ - .
,fiu,-tcvs~b'GSY3 ...lV. rs;c,c;
18,904,803 6,0679908 - 11,5339934
257,967 49,537 127 -
- r - r
J
1
f r 1 . r
r
t _ I
r
289,722
23,996,426
2,84$,481 1,0389268
169x783 ; 20271,403 159202,878 465,`046 618,345 - -
S 41,4309419 S 139573,008 S 2,398,952 $ 222,952 5 11,533,934 S 239996,426
A-11
I i
City of Denton, Texas
General Fund
BALANCE SHEET
September 30, 1978 and 1977
ASSETS
-1978
977s
in I ?
-
Equity pooled cash (Note C) $ 448,183
Prlinquent taxes redeivable•(Notd A) S 34,413
Miscellaneous accounts receivable (net 4971345 3679063
of allowance for doubtful Wounts of ,
5240600 in 1978 and $10,000 in 1977)
Due, from other fupa 32,039 14,171
'g0 321233
$ 1),1730127 $ 74248081
Q4 SF~
. r p
LIABILITIES, RESERVES AND-FUND BALANd` ctc,S
Accounts payable
Accrued payroll and payroll taxes $ 199,737 $ 44,871
Due to other funds 152,671
101,821
_ 9 Of
Total liabilities t`1
363,775 266,834
Encumbrances outstanding ;17,946
i9,?15 ,
Reserve for delinquent taxes 477045
3679063
Fund balance _274,661
99.36i1,
$
1;U3,127 5 14,480,'
The accompanying notes are an integral part of this statement.
A•12
Gity':ofiOentdn~Jexas
General Fund,-
STATEMENT OF REVENUES AND TRANSFERS,
EXPENDITURES AND ENCUMBRANCES
Years ended September 30, 1970 and 1977
Revised
budget Actual
1978 Actual
19 8 ;..,;s ;r 1477
Revenues
General property taxes
Current $ 19935,024 $ 1,873,265 „
Delinquent 50,000 43 978 = 1,450,808
enalties and,int
erest 19 000 1 ' 129978
7 "
Other reyelues
other taxes 1o621,24'
Fees from revenue- 191680665 1,401,760
producing facilities 9110500 887,433 832,983
Fines and fees 3220700 887,247 302,842
Licenses and permits 77,450
Miscellaneous 340 16b 443,177 57'384
s;27F 250 522
W,, W'
Transfers from other d7r3 78
funds 7,935,328 2,58;Td8 796
650
Expenditures and
encumbrances
Salaries and wages 49719 71,17 4,7279397
Supplies 479,327 468,211 3,884+490
Maintenance 661906 780,998 4339107
Services 1,110,399 10058,961 618,415
Sundry 20,921 11,605 8409753
Capital outlay 344,134 3149494 15,03
Nondepartmental 1089752
expenditures 3449680 368,272
Insurance 619084 680111 166,572
Ttll~rm 64 089
_ ,13 ,801
EXCESS OF REVENUES
AND TRANSFERS
OVER EXPENDITURES
AND ENCUMBRAucES S 17F,;40 $ 184,693 $ 62,856
The accompanying notes are an integral part of this statement.
A•!3
r,ryi~;v, H i
City "rf!Cdntdh Texdl:
GenefaI,Fund r,
STATEMENT OF CHANGES IN FUND BALANCE
Years ended September 30, 1978 and 1977
1978 1977
Balance at beginning of year S 89068 3 269512
Excess of revenues and
transfers over expenditures
and 6ndumbrances 1849643 62,856
Wake at end of f
~av+ ( ,061 $r89' 368
' 'i~v t ry c r:'{
r ['~"'1 :.fit,. ~,'i1", ~ ~ E . `.'•1 .r Ir'
e t,
a~ rr w,7i ~ r r"'
r ,,1
1
The accompanying notes are an integral part of this statement.
r
A•14
City Qf Depton, Texas
General Fund
STATEMENT OF 6UDGETED AND ACTUAL REVENUES AND TRANSFERS
Year ended September 30, 1978
Revised Actual
budget Actual prior year
GENERAL PROPERTY TAXES
Current` S 1,935,024 $ 1,873,265 (10450►848
'Delinquent 54,000 43,978 72,978
80
Penalties and interest X 19 000 18 984, Z$25
9004'.624 0 36, 7 V, 2,140 6
OTli, ~JAXES s f f;
10400,000 1,535,
19191►962
nctii e - Lo.,Z Star
,AFC
rU4s Company t. ;1184,744 $4,~4d rf=, 76480
fr his,e - General .r
c _elephone Cofneany 65,499 850498 t 80051
Nixed bEwerage', 20,000 22,~9,a .•,.11 , 19,875
Hotel occupanC .tax 57 000 6 1 '1 2
r
j627 1241 It/46,005, , ,0
"-EES FRV.W Ra:VENUE-
PRODUCIN; FACILITIES
64rbage charges -
presidential 4349000 406,176 405;439
Garbage charges
;.cortmercial 366,000 359,502 337.891
Sxlmning pool 10,000 15,1iS 11,$84
Cemetery fees 600 119120 :.390
Community b,jilding
rert 1„500 50724 2001
Airport rental 149000 15,489 12,813
Garbage pena'ity 13,700 139199. 150350
Special picku;p'service 2,700 39135 2,961
Recreation pra9ram
activity fee 30,000 31,149 43,242
Athletic progr.un fee 12,000 12,959
Ambulance s(xvice fee 241000 239865 -
'~fT-moj4
FINES AND FEES
Corporation Court 306400 3079533 284,646
Animal pejund 3,000 29798 5,328
Automobile pound 5,500 79150 5,814
Court cost service fee 10200 29037 871
Police funeral escort
and guard fees 6 500 5.11229 61183
-ire 018t 325,247 J
A•15
Blow
77; ~1'771
C1 t9 of. Deiitoh'► TeScils
Genirb1 Fu?ni
STATEMENTOF BUDGETED AND ACTUAL REVENUES AND TRANSFERS
(CONTINUED)
Year ended September 30, 197L'
Revised Actual
LICENSES AND PERMITi
Zoning permits, sho
petitions ; 4,500 $ 5s990
Tax certificates` " 31000 3,934 S ' MOO
Electric and plumbing.' 39167
licenses 41300
Vital statistics 4,152 4 458
,Bulldihq perml~tis~~c, ,100 497104
0558 •"i.~Y224
Miscellaneous s:~nits 20;326
1500 ~
;1o~18ing tines 1
1500 ° z 1;648, 1 F . r~ ,1345
Garbaya permits ' 1'125 r2~201
13
`Ea3ement r"; i r 4 ,500 17r~.'.Oi r ':3;79
`
Ex28vation perthiis 250 ,0260, t~7
300 4123 ~L i~3rd4
Ni_nil~,and beer pe~lTts „erg ,
and, licenses
456- 1,68' 1 685
~f3;Q56
MISCELLANEOUS
Parking meter receipts 2 500
Electric inspections 2,346; 2;344
Plumbing inspections " `4,000 51067: -51340
County fire run"s' 14,000 16,596 .11;413
Stpiet cuts 48,000 52 258 2,804
Rents and concessions 4,000 4,000 '5'872
State/Federal grants 41000
Gasoline tax refund _ 22073492 Miscellaneous income - 465
Sale of refuse beg's` .11000 41,968 33089
Interest inr, 250000 279903 251672
Sale of general fixed 4'383 ,..,4~383
bSset
County contribution`- 23,10' 23,101 -
Civil Defense' 91000 60869
Federal contribution - 80'007
Civil Defense 189000 16,902
County contribi,tion - 15,887
Emily Fowler' Library .113,000 99,565 ,
Proceeds from bank loan 43,216 43,276 85,633
County contribution -
Ambulance service 36,372
V
A-16
City. of Denton,): Texas
General. Fund
STATEMENT OF BUDGETED AND ACTUAL. REVENUES AND TRANSFERS
(CONTINUED)
Year ended September 30, 1978
Revised Actual
_ budget Actual prior year
TRANSFERS~FROM OTHER FUNDS_,
Il ictric Systen'Fund
Administrative services 5 535,000 $ 395,180 S 455,968
Return on net investment ]0012182, 19012,8-23 8553,168
Water and Sewer System Fund
Administrative services 179,Ou0 252,b25 152323
; Aeturn or.,net investment 1800OOP" 1800COO J{
t.Atvenue Sharing F.und,t. 545,315 545,315 332 301
r Gen>3ral Debt Serriicg.fund ] 000 Ila agog, f t tu-a 1
I S 7,918,321' $ 7,982,748 S 60940657
emo~o &sOWEsisi . , ' S t.;1 rim
Ci C,j,~ r•~l, i`i! v)! t(;~F'.t. t`~15 F~ji.,.E~p^r
A•I?
yt
City of Oentons Texas
General Fund
STATEMENT OF APPROPRIATIONS AND EXPENDITURES AND ENCUMBRANCES
Year ended September 30, 1978
Expenditures
Expa;~ditures and
Revised and encumbrances
appropriations encumbrances prior year
G%NERAL GOVERNMENT
Salaries and wages $ 197,436 $ 1961414 $ 14%806
Supplies 15,512 12,600 109067
Maintenance 22,185 23,557 30,532
Services 176,335 162,303 1169212
Sundry 13,410 8,212 89853
Capital outlay 19',400 189865 :1456
insurance 8.1-152 7,809 7 304
4i W, W 429,760 meow
LEGAL DEPARTMENT
Salaries and wages 108,977 104,643 82,320
Supplies 6,725 69295 7,656
Maintenance 19225 1,225 730
Services 22459 22,580 179274
Sundry 2,164 499 2,511
Capital outlay 49280 3s240 4,969
Insurance - 501 407
5j4-.T -T3929$3 TTY, M
COMMUNITY DEVELOPMENT l4
Salaries and wages 2749686 2749992 254,682
Supplies 17.245 16,873 18,171
Maintenance 79600 8,552 9,224
Services 17,719 18.061 23,600
Sundry 19380 960 19594
Capital outlay 103 721 730
Insurance 3 409 3 132 3 516
3 X1',31'1
CIVIL DEFENSE
Salaries and wages 29,934 29,281 279137
Supplies 19829 1,616 1,640
Maintenance 3,232 3,667 3,386
Services 2,729 1,752 31020
Sundry 10 11 16
Capital outlay 6,207 4,272 1,588
Insurance 715 567 833
74,3 Ti 7, 66 179626
A-18
City.of Oentoni-Jexis
General Fund
STATEMENT OF APPROPRIATIONS AND EXPENDITURES AND ENCUM8RANCES
(CONTINUED)
Year ended September 30, 1978
Expenditures
Expenditures and
Revised and encumbrances
appropriations encumbrances p H MY C„ar
FINANCE ADMINISTRATION
Salaries and wages S 56,583 t 51,736 S 619416
Supplies" 560 446 .631
Maintenance 125` 149 106
Services 1,400 19541 %791
'Sand 118 r ,_~f1l 16
Capital outlay ~205 102 t l%
-Insurance 386 31;1385
TAX DEPARTMENT
-Salaries and wages 530546; 539843 491161
Supplies 90465,, 7+734 6061
Maintenance 7831 . 432 564
Services 10,928' 9,100 2,981
Sundry 17 11 ':16
Insurance 622 334 414
Capital outlay 750 877 335
7TOW 9~ 9232
` 7T
I DATA PROCESSING
Salaries and wages 108,076 110000 89050
Supplies 4,360 59247 50385
Maintenance 21,604 239251 537
Services 88,448 91,226 92,126
Capital outlay 209342 209642 3,122
Insurance
242,820 'fit ,66 900,320
SANITATION • COLLECTION
Salaries and wages 3409775 343,121 3%19,405
Supplies 167,370 174,831 158,451
Maintenance 89,500 127,;61 97,Ih'5
Services 759577 76,553 65,745
Sundry 300 65 10
Capital o+;rlay 35,248 34,917 8,145
Insurance 9 000 5 897 6 532
18 763:165 645,434
A•19
City of: Oenton;, Texas
General Fund
STATEMENT OF APPROPRIATIONS AND EXPENDITURES AND ENCUMBRAf'CES
(CONTINUED)
Year ended September 30, 1978
Expenditures Expenditures
Revised and and
appropriations encumbrances encumbrances
_prier Bear
SANITATION - DISPOSAL
Salaries and wages $ 549844 S 51017
Supplies 6,680 E.- 45,033
Maintenance 1,9S~ , 4;324
:Services 32,005.,19,921 ','~SOi$42
Capital outlay 102,437; 100,888 31,3b4
Insurance 600' 85
t 193 'i
2
.tJS;ddb -•183;-M =~.0
POLICE 3
Salaries and wages 1,07(,740: 1,083,865 9
':Supplies 71,010 66,267 942,529
Maintenance 4;1,837 ..9,702 66,951
Services 8,3;439 aY 48,938
,307
546 63,910
Insurance 10,265 12m
Sundry 12,546 12,517
Capital outlay 28'8 0 803
1,919
23,9 928 28 2 M"
0
1,314,418 i, r RIW T-OF-WAY
Salaries and wages
Supplies - 13,105
Maintenance - 408
Services - 1034
Sundry 174
Insurance 2i
r 269
• 5,?
PURCHASING
Salaries and wages 35,499
Supplies 31553 36,163 30,948
3,05 2,075
Maintenance 600 7
Services 5,500 705 204
Sundry IS 4,682 5,824
Insurance 11 24
,Capital outlay 27
' gq,904 •
39,
A•20
J
ai f~rT~ p'r,f, . a J'1' Nr. ~ni.'7 '~.•Y7., 1Mi7 77
7 7 f : h. I t !1- x 5 F I r S
Li ty of Ootb",,~ Toilt J
.z GenRrd~i~Fund:~ ,p
STATEMENTAF APPROPRIATIONS F`ANON', ~DITIIR£S A~44r' NC[1h~RAR~E3
(CO
Year endr.: September, 30, 1978
Expenditur@s
Expenditures and
Revised and encumbrances
<; -t ._appropriations Ric AO$Wbrances _priof' v~ar
BILLN9 pND,COLlECT1110
:5e ies?a'nd wag $ ' 248 } 3Qt
248ip l $il~.196i,259
Sud0
lies 46,320; f, t: 44;T6 2 , 0035
Maintenance ;t' 6,335'':;,{: ; 60074 cn i4y455
SeFVice.% r, . 12,606, o 9,424 r: ,14807
Sunda E.~ OAA,
427
ti'~h~ecl38
401tal outlay w ,l t 1
9.32 Nj ffuic f cl ra5:A04
~v
'Z E:Y, ~2~ntiU'11669,
, 07 ,F f
s 31063
ACCOLWITING -4r
jF64111Aies and wads f 42P531:i%:-I
1 ( 40,§62n« bni xsftiQ7rn11
Su Iles E{,~ , s 27.,Si 3,163 zo te ;
i Ma . tenance ^e~ 1 f'~ i 66
1003c , a 58 e,Pubrt+:r$f"''
SOV'icea t,' t, f 3,47$ fS
Capital outlay ' 877 :,`3,450 q~su11907
816 Y"Iflu404
Inturance
38
Y 7VEC011i;i 489108 PERSONNEL 011)
Salaries and %ages 36,454 38 940"~s ~tr;r'1~ 361663
Supppplies 39230 3,509 ~•~-~1`+ 3J950
Maintenance Ids S 0:198 r ~9f'sr,fc,2 112
SeNSrices 7,7776004 fay:,6
In§uiante 27 ,352
Capital outlay
1 020 ~ <<, ~ t,7 ' ` 289
8-IM"
TRAF 1C CONTROL i q` '
Sa e'rles and wages 65,844 F 64,05b 53,606
Supplies 4,200 5,340 4,137
Maintenance 289200 25,961 -2r71861
Services 8,840 7,961.+,. &i484
ip i cal k,uciay 10150 99; zr;~ [q
Insurance 1,650
.-Wa 882 nic873
1090480' , • 1 T~,T93
~ulfu it„r!~,,
f', r
Ali ~p
•e'`J"Fw ` . , ,n^z',';", ~II7-.'-.' r, ~A --jiAVF•'..
" N
G
t 0 tf, of De00'6, T4e3
Gone'ralfifund ,
k. STATEMENT OF APPROPRIATIONS f D'EXPEt10j'iURES AND ENCUMBRANCES
(00 NUSO)
Year ei+ded September ,301 1978
Expenditures
Expenditures and
Revised and encumbrances
is r rat erg &rrances .0rior ar
FIPF
Salaries and wages,; S 1048,193 ~j $ .11154,2 27, $ 873,',s58
Supplies 33,170;1:, 34,177 10054
Maintenance 20,281.,; 26,878 21,,091
Sj?hviCos S019W 4$,836 44030
23
.fi 23 , it r W?33
undry
p,'; apital outlay MDR l 069
T Insurance ~ 8 942 0
J, 4
STREET AND BRIDGE 260046
<<<,,
Salaries and wageuci, 324,950 314 9008,
ir.,.Supplies T+I 28016p),:* 1- 210463 A} +994
Maintenance 336,SW'Ir 3969802 288;214
-:Services 233+90p~t,,t 212,640 206131
Sundry 500, . 357 A4
Capital outlay 101,000 - 85,914 i~867
tniirance 1 433 13,88
PARKS-- ADMINISTRAT'ION':
AND PARKS
:t Salaries and wages 222,396;, 250,953 -184,816
Supplies 27+914 26,525 21436
Maintenance 27,105. 29,108 24467
Services 509432 64,340 340'0
Sundry 320: 179 188
Capital 7+381 7,177 13,487
f
Insurance 4 4_ 24,931
339.96 + 849332
{
PARKS - SWIR41NG POOL "
Salaries and wages 21,160,x,. 21,365 190596
Supplies 2,445,?, 2,180 = 3,815
,Maintenance 7,914v 59116 21907
Services 4,750, ,r 3,564 2,713
Capital outlay 2,723 21805 -
~
Insurance 38_ 300 9 _2 _bOTT _ 111-90" -
A-22 ,
Y'F .A r 5 '.e 7.1 n 41 ..Y i r Iw '7~7
3' k Y'1 yy ffJ 1
o'~ r M1r ~ tf a Li'.". V~ ~'c 1 'i I ♦Ud ~
r 'r{
City ot{OentbKr.TOO
deneral,`i:'und
STATEMENT, OF `APPROPRIATIONS AliDS E%PENDITURE~ AND ENCU148WES
j (CONTINUEb)'
Year ended September 30, 1978
Expenditures
Expendituresi and
Revised and encumbrances
appropriations e'nCumbrances prior year
PARKS • RECREATION
Salaries and wager ; 82,562 S 75,019 5 77,876
Supplies 6+930. 1,340 M223
14aihtenance 2,600 3,319 2,73
Services 70190Q 70,2074 78,643,
u'.Copitat outlay 090 608 4 :.1;174
600 f- ;9: 3 x,ri~ d, asrr rev 1
Insurance
} Lt i.:.rf CC 4~'~
$482 J,
PARKS - ATHLETICS
,;;:Salaries and wa*, y 34,691; t- 34+931
Supplies ]i+757 11 ` 90995
Ifnnance t 15b'~ 430
Services 34,258.' 439199 -
t,apitat outlay 11150 .566
Insurance - -
.82-,006 89o421
LIBRARY
Salaries and wagds 152,4°6 143,789 117,508
Supplies 7,965 7+709 99645
Maintenance 20710 2+704 754
Services 389726 369209 270198
Capital outlay 23,000 27,019 19,034
Insurance844 1 71 1,2,4520
2259731
AIRPORT
Supplies 155 209 72
Maintenance 10950 4,426 ;,173
Services 100250 9,5386 59150
O
Sundry -
Capital outlay 70500 MOO 34,942
Insurance -1.1au ,~1 259 1 1~OSS
!A-23
'wf
day `d`rJt r+ ! ~i •,.Y /'t}Y.,ljrw fi~Mb J. 'ph Yr.Y•
'y{ i
Otty 4f3~aen#On~~ Texa's
rienerat:.•FundST.ATZMEtIT,~•4F ~APPROPRI,4?I .t Aj y~EX EXPENDITURES AND ENCOORANCES
Year erred Septpmber,30, 1978 ,
Expenditures
Expenditures a' d
and encumbrances
Revised
j f, e nc umbrances orior year
~
NONDE'PARTMENTAL
i;XPENDIWR£S
ty-county hnaltiF` 57,50q~~;•,':. S 63,513 57.064
•,°;,:uOt services, $ 170936
CApunity a enoiesC%". 15,750
Y ~F.I, - ~14~tso Etj;*:330
(~a
s.~@ tAtd grant r3 OW . "IRr,aanI
& t I d debts and r~iUO 4 , 50Q. ~ t', t~ 22p326 47t461
g"llueous ,v
Conteibutlon to *))WA . 2}SAq
tourist and visitors . 53,997,,w~V4 zs A6i4B5
0Q~."tic
center, tEY,.~E 56,4o
~F1ow Hospltal EU ,a' t6 00 yrr u
a '~tSnJ;
g) t V'(3 e
7,741978L~ , F S 79798,655 '6 13
r .i ~P: E:. 1r rV• i I r3 r' f..
!r
FA-24
City of Denton, Texas
Special Revenue Funds
BALANCE SHEETS
:eptember 30, 1918
Total
ASSETS Memo
Cash $ 55,646
Equity in pooled cash (Note C) 2,146
Due from other funds 40,38)
Grants and entiWArments receivable (Note A) 129,295
$ 227,461
:n lsomr.
LIABILITIES, RESERVES AND
FUND BALANCE
Accounts payable $ 1,112
Due to other funds 164,614
Defer-ed revenue 6 993
Total liabilities
Encumbrances outstanding 51832
Fund balance 48,245
$ 227,461
The %ccompanying notes are an integral part of this statement.
A•26
sr- 1
WouniFederal Miscellaneous
Development Revenue Special
Block Grant Sharing Revenue Funds
$ - 37,011 189635
2,140 -
10,000 14,842 15,538
129,295 $ 129140 S 1813 5,341173
117 S - S 1,655
164,506 113
6 993
`~T;~i~ b , 1;Tb$
5,030 - 802
161642 31,603
S 12,140 S 1819148 S 34',173
A•27
City of Denton, Texas
Special Revenue Funds
STATEMENTS OF CHANGES IN FUND BALANCE
Year ended September 30, 1978
Community
Total Development
(Memo) Block Grant
Balance at October 1, 1977 $ 67,091 S -
Additions
State and Federal grants 134,762 134,762
Contribution from municipal
utilities 15,538 -
ContribuLlOn'frbm civic
organi.ZAtipos 4,353
McKenna Trust distribution 1,907
Library fines and memorials 139761 -
Rental fees - Civil Defense
airplane 19509 -
Defensive driving course fees 41110 -
Federal revenue distribution 520,914 -
Interest,, in; bme: 842
1 i-*LVM i~d f
Deductions
SaIar-its',and wages 25,468 25,468
Supplies 1,182 69
Maintenahte,~
Services 18039 18,290
Capital outlay J 16,056 ;41130
Transfer to General Fund 545,315 -
Grant transfer to Denton
Housing Authority 86,bG5 86,805
Transfer to Airport Improvement
Grant Fund 269792
Adjustment to prior year
encumbrances (2,285)
Civil Defense airplane expenses 19418
Defensive driving course expenses 39946 -
Donation to Emily Fowler Foundation 71500
762
Balance at September 30, 1978 S 489245 $ -
. Jwan.
The accompanying rotes are an integral part of this statement.
A-2A.
Federal Miscellaneous
Revenue Special
Sharing Reve:lue Funds
S 50,747:1 $ 16,344
15,538
41353 .+15 1. t1.1 1'7i ~t,; C.) r
1,907
13,761
' 19509 ~j.'?, ri
4.110 ,r f t,
520,914 -
i, 4.842 i
R j5;m 1,m
i
1,113
I
- 49
33 11,893
545,315 -
26,%98 -
(2,285) -
- 1,418
3,946
7 500
5696'1 919
$ 16,(42 $ 31,603
A-29
- _ r
City of Denton, Texas
Special Revenue Funds
DETAIL OF MISCELLANEOUS SPECIAL REVENUE FUNDS BALAXE
Year ended September 30, 1978
Lions Club Park Project $ 407
McKenna Park Fund 9050,
Emily Fowler Library Fund 708
Clyde Wright Memorial Fund 5
Civil Defense Airplane Fund 352
Defensive Driving Course Fund 326
NTSU Student Recreation Fund 125.
Denton Tennis Fund 10
Denton garden Council Fund 10,.
Denton Insurance Agents Crime Fund 451
Bicentennial Organization Fund 19407
Senior Citizens Activity Fund 8
R.E.D. Board Fun: 15,538.
Hi-Noon Lions Club Fund 2,812-
$ 31,603.,'
A-30
y
t
t '
City.of O9ntQni:Texas ` I
FedErbl ReYerwe'Sha"ing Fund k
STATEMENT OF REVENUES AND TRANSFERS,
EXPENDITURES ANL ENCUMBe0h DES
For Year Ended September 30, 1978
Budget
1918 Actual
REVENUES
Federal revenue distribution $ 620,914, 5'520,914
Interest income - ~14 ~842
535,756 -
EXPENDITURES
Capital outlay 33
Transfer to General Fund 545,315 545,315
Transfer tQ Airport jImprovement
Grant Funa - 26,798
r Adjustment - Prior fear t t,, i
Encumbrance ~
EXCESS (DEFICIT) OF
REVE14UES AND TRANSFERS
OVER EXPENDITURES MO
ENCUMBRANCES $ (241401 j S 34,105)
i
i `
A01
4
t+
s.
t;!of=DOil Mi.texas
asral' Debt'WOd'gund
BALANCE SHEET
September 30, 1978 and 1977
ASSETS
1478 1977
. Cash
32,409
Timd,-deposits and~4ccrued Interest
32409 3 167517
~ B!'~.IiCir,
r~ l,I~l81LiTY AND FUr0
r,.'jG , U~" I✓~(:3 1i'7 2 YIS41 'r, h ~11I1 i71
Due to General fund tr+
8;~rc, 4 g" 18 'S1Tal'
Fund Balance 1.) L
32,409 S 167,517
r ,
The accompanying notes are an Integral part of this statement.
A-32
PER
5
City-of Denton; Texas''
General Debt Service Fund'
STATEMENT OF REVENUES, EXPENDITURES,
TRANSFERS AND FUND BALANCE
Years ended September 30, 1978 and 1977
1978 _ 1977
RQvenues
scoliECted $ 1,257,432 ; 8510411
Interest gp dar rned n on of
21,126 25,270
Transfw'ffat revenue sharing = X 1~5,000~00,
~O1 l,y`J7L1i01 ,
Expenditures +u;>„; ~c ~.,nr:wa((b
Bank note pwingipal paynlents_'',
Oonds rellred 6559000 561'QOO
c fiterest "atd t; r.3: f, w 5999088 503,411
Paying went fees 777 691
Transfer of prior year's accumulated
interest income and tax col lectinr,s
in excess of requirements to General
Fund
EXCESS (KC-ICIT) OF
REVENUES OVER
EXPENDITURES
AFTER TRANSFER (162,649) ~ (112,921)
Fund baiante at beginning of year 167,517 280,438
Fund balance at end of year S 4,868 $ 167,517
TO accompanying notes are an integral part of this statement.
i;•33
City of DentonTexas
Capital Projects Funds
EALANCE SHEETS
September 30, 1978
Parks and Airport
ASSETS Total Recreation Improvement
Memo Bond Fund rat nd
Cash 403,831. S 102,041 f
Time-Opasits and accrued interest 1,154,018. 31,010
Due frahl:Otker funds c; 621,231 989491 260198
Grant reimbursements receivable 210,041 113,072
y
Street asseWlents receivable, less
allowance f6r;4ncollectible 3
accoOts of $92,53 m 123,973
too, ray 0, II' ~ ~ ,9
'r c y ec; $ 29573.150 231,542~ar>~{:5;145,810
LIABILITIES, RESERVES
AND FUND BALANCE
Deficit_position in'pboled cash (Note C) S 139,192 S S 139,192
Accounts Payable 261,565 112,168 4,778
Due to other funds 629 182. 2 562
Total liabilities j631',13 114;730- p
Encumbrances outstanding 347;486 121,1P1 1,300
r_
Fund balance 1,194,525. 1,035
S 29513,150 S 237,542 $ 145,810
The accompanying notes era, an integral part of this statement.
A•34
~r1~rr,w,,.rr
I r, Y.. , . 7.
i
Construction Williams
Parks and Street ComnwnIty NTSU Street Square
Development Improvement Development Special Assessment Improvement
Grant Fund Bond Fund Grant Fund Projects, Fund d fund
$ 61,180 $ 616,598 5 30,439 S 269281 ; 25,
191 ; 11,0Q
462,011 _ 279,036 ot~~;r•
15i,025
t~~:Jct, sflE t4`~ffi~
,CaEGi (J r1t 123 Q 3
$ 212,205. ,t 1,391,741 $ 30,439 $ 260281 $ 462,071 ; 111001
"Roscommon IMOMMMENNOM
zrJ
t yJ ~ ~'I[• 2.;'SU7 , fraSl:~G~
I' •i'iV(r.9 C~^i ~7 i1.`.f ,~'i. LrI fUF~
r . r 11 1 1 v i S l tt 'i fl T
S 279158 $ 660895 $ 3,301 s. 305981'
23 220 11 087 24 842 - 462 011
150,378 162:071 16,284
39041 1869154 '2o296 32''9r,!_, ^Y
5-,-8,786 1- 1111605 - 14o700 21279`99
$ 212,205 S 1,3819741 ; 30,439 ; 26,281 $ 4629071 $ 779001
f
A635
e v.
City of Denton, Texas 1
Capital Projects Funds
STATEMENTS OF CHANGES IN FUND BALANCE
Year ended September 300 1978
Parks and Airport
Total Recreation Improvemem
s,, Memo? , Bond Fun , . GioanV Fund
BalaNe-,at October 1 1917 $'29-604s691- "$',"773-'0770 7
Ad~i 6o'ns t.
Proceeds from Cert;iticates of Obligation 125,000 !
Interest and miscellaneous 120'579 30,600 -
Transfer from Revenue Sharing Fund 26098, - 26,798
t fer from Street Assessment Fund 19,738
G t revenue
88~ 7y926 - 75
736
,6 3"
i01?,C: fCG,S%J 4 if`,35 G C3£.;,ti s f+~s:~ft':.s" 4 iCi>rS
Deductions
Streets, curbs and gutters 4529260 - ;
Purchase of land and right-of-way 374,981 - 275,636
Building, land improvements and
e4uipment 1,596,292 8039335 488,037
Miscellaneous expenses 14,842 -
Transfer to Street_Improvement Bond fund 19,738 -
?~^an1Per to Denton' Housinq Authprity '32 00, -
803,335
Bklpnce at September.30, 1978 $ 1,194,525 f 1,035
The accompanying notes are an integral part of this statement.
:,A,3b
E
Construction w liams
Parks and Street Conmunity NTSU Street oars'
Development Improvement Development Special Assessment 7. 6''ement
-
Grant Fund Bond VOnd Block Granz: Projects Fund hnd'U.fund
$ 1609666 S 1,518,148 $ - f 4'',013., pZ?,r >_tir ,~A
•l 'd1259000
61;6x~S' - 20512. <19i738 630
I ' t w V u f ;5 f ! rJ 1 I~1 . J 1, 4 r +..1. t ~a 1 ~I+ r~ 1 j
a 19,738 -
101 879 491 rt,:Z;+Z I_i r ? t~f tai ;f E :3 r:aR .
37 _ X9,1 ] 2 2 , 512 'g, ~3$ 530
41,
I 'p 101 86
~T32rA 033,-119,"234
4590260;'
-I r a(i',,S9 y22ac it"E°". Jrf (ifrl{} 41!Il'9y~~
40J20
203x159 19000 2!330;11697,831
- 14,842 t s
19038
32.1000 T .
203.759 493380` T9- '12 5 T§,`1$` '4 '~T
• ;saf,j
3 58x1$6 S 1,]11,605' S - „S i, 4f7~~y):, ,z s lr :iz 97~799
i
Y Y I I j t TES
A.37
"n~ra33f, Z P ii1 ;'t6, !F.'E;0'10 111A, :''6 2'4 OP tln,?wnf,f) 7 `)r~~ ~r!T ~
x'11 -i• ♦ ^J, Nry A y.
City of Denton, Texas
Electric System Fund
BALANCE SHEET
September 30, 197b and 1977
ASSETS 1978 1977
Current Assets
ppereting Fund $ 1,428,342
,,,Equity in pooled cash (Note C) 5,047,226
Tidal depo`its"arid accrued interest
Accounts recelvaqle (leSS allowance +
of $.95,852 . 1978; $321,872 - 1971 3,897,623 3,341,985
for uncollectible accounts) (Note A) 13,349 79,301
Due from other funds 473,485 1,140,585
r)00, t entory of .fuel (Note A) 47;37,9• ; ?7,856 ~
L`E:a repaid e~iPAn4gs
. 0103tred'cost on Lone Star.Ga; - 478,821 i'
retroactive rate adJustmcnt (Nate F) i '
_ Rabate receivable from Lone Star Gas g 118 ~C►,
_ _i
RtSYRICTEh ASSESS 43,1Z5:'?
Pledged Revenue Fund cash (Note D) Revenue Bond Debt Service1u1ndi(Note D 1,232,251
Cash X24,2.1@ i
rfE,,\Time deposits and accrued interest 310,734
- Due from Electric Oporating Fund -
Retirement Fund~,(Note 0)
U. S. Treasury obligations and
It accrued interest - at costs. 435,198 ,
Revenue Bond Construction Fund 81,809 236,828
Cash ~
t1,imQ deposits ;.nd accrued °,Interest 211,621 ,92 1231
Revenue Bond Reserve aril Contingency Funds (NotA 0)
Cash 1949481 Time deposits and accrued interest 1,923,835
U. S. lre-ssury obligations and 2,573,491
accrued interest - at cost
System extension r•nd improvement 4 6c15 I7r1~
Equity 1rk pooled cash (Notes C and D) M ,v`~+
UTILITY PLANT IN SERVICE (Note A) 291,329 291,?29
Land and land rights
Electric plant production and distribution
facilities (less accumulated depreciation
and amortization of $19,044,539 - 1978;
$17,6679170 - 1977) 25,383,855 25,756,730 Construction in process 8 1 788 1,279 491
Z6j496j97Z 270275556
INVESTMENT IN INTRAGOVERNMENTAL SERVICE
FUNDS - AT COST 180,741 180,747
,
525~
41g4300 S 41~132
TFe accompanying notes are an integral part of this statement.
A•38
5, An.- r P. S',~ ~ r; t S 1 . r 771 S N•r,'A
r
GM
197_7
f (
78
I9
LIABI.I:'f1ES AND SYSTEM EQUITY
CURRENT LIABILITIES (payable from Operating $ 3,6171043
fund) oo]ed cash (Note C) $ 1$33,599 11227,438
Deficit position in p 1c5,807 104,321
Account`s payable 2571961 :401;768
Accrued r~ayroll and vacation Pay 232,489 197,212
Due to restricted and other funds 418,821
Customgrs' deposit ant
te~_LbA~ Star nt (Note F)
Ac
rtrfl?tivc rate ers (Note F) '
ROsj payable to Cush
L 'a
I y :e gy`p'/i f.!~Q, L~'r(::SS
owl 'r
g RICTED ASSETS 3'vq kszc'.~~' 4i, 0
YA'lLE ~.M a
LIAR nd
vM - 20' N 0 41,635
Re u ~boadsbPa iUin one year 6i14,443~
e ~ T. ~3~,nr,l~,L~•11y~566
I ~<< interest I c " ti ,
Re u and Con4t~t b ndyy~~~~1~~ia2rr'~rrl,A 3 6
z t , 1 ,
O ats payabler w I, % <z:
771<I~
11
Other filnM9
Ci~ill~'d C
LONG-YES~i DEBT (Note-O) exclusive of Q~ 16,9029000
Revenue bonds payable - 15197
maturities due5eriestt197$ year
Boil discount
rE UtTY
' SYS EM Q 21573,493 5~111
Re srves
b~' revenue bond Contingencies
909
'41`1 44 increment~ih aluati,)n ofnt .1,736,7:" 2 161,203
onr'ey11z 169,183 7 965 780
utility plant in service {Not'a A) 151202 878
Contrib!~tions in aid of constraction 19,681004 Retained' earnings
I ! 4i '
I
COMMITMENTS ANO CGNTiN6ENCIES (Note E) $ 41y430,419` "$'41;525,132
- ' - mss---- r
r; 1 [S C. ;1 Vtv Z
rl S., amx k•....e ! i tih
l',
I fin, :,,1t .r,
I ;II'f
City of U„ton, TvCas
Electric System Fund
STATEMENT OF OPERATIONS
Years ended September 30, 1978 and 1977
1978 _ I_ 977
~'ectrlcity s,,le$ (Notes A and 0)
C stoners'"
' $ 47,7 It
4¢4'
Intragovernmental 8 g7„ ,
.5 ,.,l5
Resale power income
bt~er 32 14. 86`50 i
f
~Ek In es. ~
p a ar`ies and wages
Fuel 7T 01; a l,!
0 r,I phased power
~
r E~3, tt Mai ntenanceF r` r,4 4 b' ' a X11
s tg~r r ti
rInsurance 17.3Q ~u 3 brlc~
s Admioistrat~ 'J rvIces 395 3~ X68 ,.r
'1r , f 2
,1 7
. e vi4es
a~ debts 0lj 215,7 , 2 , ,OPd
Sundry 128,694 120,120
..157.
J4E 14 I46
t OP%R tf.ng income befora.
pS 4tion 5,050,345' S,U 4,97`
" 06prodiation (Note 'A} (1 094 2i1 (1 050,603)
49
Operating income 31956,134
In~erezt income 3 7 211
4Z 9tQ57
'8' 41n:erest and fees 01X158 { 'b? l~J
1.
Ne0nco~ne before transfer
4iscre and extraordinary Income 3,1991647 3,33~4j6
tionary troSfer; of excess
revewe to General Fund (Note 8) (1&12 823 85 16
Net income before extra.
ordinary income 2,186,824 205381308
Extraordinr+ry income- gain on
:advance refundipgi(go'e,O) 8901268
NET INCOME $ 311077,092 $ 2,538,3Q8
summossemeommom
The accompanying notes are an int;gral,.part of this statement.
A•40 ,
'rrrr.rr,...W
City of Denton, Texas
Electric System Fund
STATEMENT OF CHANGES IN SYSTEM EQUITY
Years ended September 30, 1978 and 077
i'ese;,ves
Revenue Extension
bond contingencies and im rovement
' IS7 1 7197 1977
Balance at beginning
of year $ 2,118,322 511968,789 41616,177 1 2,8850447
Additions
Transfers from
Operating Fund (Note D) 2,513,493 149,533 1,2889628 2,213,.63 4
Contributions by I`• + ~r.~~~:t, ;r ! ,i': ~f~ ~ ~ i ;,w"'~Mti
customers `
Net income -
Transfer from
reserve for
extension and,
improvement for
additions to
utility plant
In service (Note 0) - -
Transfers from restricted
assets as result of
refunding bonds
(1140te 0)
2;573 93 `1499533 1--28 11213j534
Deductions
Transfer to retained
earnings as result of
refunding bonds
(Note 0) 2,118,32?. 59517,538
Reduction equal to
extension and
improvements made
during the year
from current
revenues (trans-
fer to retained
earnings) 3869261 4830804
-
Amortization o-'
unrealized incre-
m3nt (Note A) -
Transfer to resw,ve
for extension and
improvement
Transfer to reserve
for revenue bond
contingencies - - 2,118j322 _493oBO
Balance at end of year S LJL 3 4 2 7 TV F27 S S 4,61 The accompanying notes are an integral part of this statement,
A•42
i
Contributicns
Unrealized increment in aid
in valuation of construction Retained earnings
1978 1977 19J 1977 .1977.
S 2,01,54.,909 $ 21,3~}3.0¢9~ r 1 1619203 ; 124,944 $ A!b$66,735
f~ f trf L7f r > r.;
r
80580 36o2,$.r~ ;s~r~r ran
' rl''Sgrr, (a r,
f r' gg ~j i
. 3 7 5 3~
r
' - fS, CtCrf•,.1 ~ ~ir,n it-rcts7txd,~ nv~,~, .
€tr~,~sc,t ..:.111,6 z:lti5r+'9"~~ rnU-rY a
14
'Lilt
7 8 Q 1 r
r
$T)
- ~ HIS
~F`,,-~,Q^ ,112
r r
r
'283,159 283,160
1,288,628 2,213,534
2 673 493 1491633
28M59 283 160 -3162521 J
$-11736,7 0 $ OI9 9 S , 9, 3 , 1 1-6C-FO 3 I Z0, Z.87F;, ; AM VO/
6179
j
a
A-43
f
City of Denton, Texas
Electric System Fwsd
STA'EMENT 01' CHANGES IN FINANCIAL POSITION
Years ended September 30, 1978 and 1977
Sources of working capital r 1917
From operations
Net income.;before
ex traordihiry'' i tern' r
Charge not requiring $ 2AU'J 24~ 5 2; 3~;'30n
working capital
Depreciation
Working capital provided J-& 09421 1 0550 6O
'
f om operpptipq pefoi i
a traorQ ~i'ary tem
Wor ing capital Proviu'sd 302Pt,035 3,5 ,911
from extraordinary item
890 0,2.68
Working capital provided
from operations
4,171,303 3,5&x,911
,R:~ayment ot`rfirives anent in Motor
Pool Fund
Contributions from customers and 124,549
developers
Net ipcrease,;`16,i6hgterm debt.due $,580 369259
2,002,802
Decrease in restrictendsassets'net
Of liabilities payable from -
restricted assets
4 468 .a52
Applications of working capital IM M17 3, ,719
Additions to utility plant in service
Reduction of long-term debt 546,785 924,683
Increase in restricted assets net of 19044,000
liabilities payable from restricted
assets
1 521 200
INCREASE IN WORKING CAPITAL
1001049752 2599836
Working capital (deficit) at beginning of year 841 210)
Working capital (deficit) at ~~nd of year 1 197 046)
$ 99257,542 $ (847,210)
A-44 ,
t T.
dre
Clty of} Denton j,Texas
Electric,'System Fund,.,rj
STATEMENT OF CWIGES IN FINANCIAL POSITION (C(NiTIMUEO)
Years ended September 30, 1978 and 1977
1478 1977
Changes in components of working
capital
flricr~ds4 (decreaS6?~'irlrCur~!ent~!`;, ~.,>r,? fr>~tr~~:?~i
assets
ilt;: t )rGt,,~.1quity in pooled"cash
and investments $ 6,475,568 s r : 'r a r t r►'rS
Accounts receivable 5550638 tfw:; •4878167Q
J• i, .Inventory of Judi F; (161,100) 7849351' ~
=Pftpaid exp€6fWiS 3<.r zr,f9►523fin~t 7saq24 138
Due from other funds {65,958)ntr,+, f, <411208
rrn,Uferred coft'*Lone Star 't~ + i ~tr~nrf
retroadti-71k rate ad- (,.s 9`ip1?nt ,,uu ~irs2sA
justment and deficiency i~r~~,t.r11 r,o n0iJ:)4)f(o,1 i.
payment _,tnrI f (478,821) 7Jnucl-A755;241)
c ~kebate recei+ISble from Lone , r zt ne r a asr~npagA
0,~.•Star Gas rt
s 348 516 z,,o~~,.,0308616
t
i 'r c„ n't
Oi,cr ease) decrtase'1Wtdrrent
"liAbilities
Deficit position in pooled
cash 39617,043 (1,171,592)
Accounts payable 13060161) 7,406
Accrued payroll and vacation
pay (19,486) ` '(10 M4)
Due to restricted and other
funds 143,86' +C -~3~8,428
Customers' depdsits (36927)) { 7,806
Rebate payable to customers 205,677 (205,617
Accrued Lone Star Gas payments 478,821 755 241
f
INCREASE IN WOR'ING CAPITAL $ 10,104,152 S 259,836
"he accompanying notes ave an integral part of this statement.
A-4$
s
City 0f>Ilenton'rt+Taxas
ClectOic'SystW Fund 5
STATEMENT Of BODGETEO'AND'ACTUAL REVENUE
Year ended September 309 1978
Revised Actual
budget Actual krioLY-ar
customer sales- 6,993,000 5 „6957M , _S 5,660,433
residential s ,.15rrr, i
Customer sales- 11,556,000 10,978,635 ,101363,040
commercial 170,000 169,562: 147,258
Penalties
(Dusk4to•dawn rents]; 33,700 330967 31 s932
i feef 4
619,bO0 624jO0O l!fu°-584,584
P11.6 0aggovernmentmEsties
E'St it and higKq M6) , 183i847 ^ l7A,Ol1
11 kiting 1979000"
gg 21 ,000:• 43 466,. i7(, 0: ,Wt%5
R4sM pow'rr income
Collectlot on charged
t~:~pflC$cc 114,000 1,ON l,, ~<< 60199
~`tunts{t~,~s.~';t,~ 844<. wr r<~c,d3;1,262
Reconnection. fees 1000' r; "
ZM1s(;®;laneoui (!''11,E78 23;5197 7 ar,^rfZ 72,908
'K39000 Op~~`q►oves 4,000 B+C~ •
Aid in construction 2 000 1 893
Sale of scrap material T9~
Interest 2002,3 7 234,703
$ 19,928,178 189769,32511,9421976
,,,Ad 4,,~tment to
1berfiercial basis 3179271 (249703)
-
;Interest re vyenue8158Q
PJd in construe ion
643 V4 S 17;708,273
l
Pr i.
t,.e;,• s ~ r,r'` its r ~ i, , F
A-46
i
Ci W ofj Dantatrvj1&as1,9
V ec trW, System' Fund '
t.
STATEWNT OF APPROPRIATIONS'AND, EXPENDITURES iAT
ENCUMBRANCES AND'TRANSFERS
Year ended September 30, 1971
Expenditures
Expenditures, and
, Revised +'encumbrances.` encumbrances
{orocriations.w}~and~aranster prior year
ELECTRIC PRDDIJCTiON V'?1TAA.930W '
Salaries and wages $ 517,212 $ 556,826
S "'~606i513:
Supplies 146,p41 1179135 rrc a X39.,630
Maintenance 121089 95,615 notlqW07
Fu81!P Ur1Wsed power: ' > 71t,631,62I c 5 e 111119,335 r~~ k ~ ly4i923
Services 34,304 20477 <Y~2$ti~07
} Insurance 141,804 135,117 brol rJ09491
4t Sundry. •r,rs tnI Alf 1A 37
Ca~ital outlay 9 5 4 8,482 215
nC} f,cE' 000,2£c 12,113,341 z ► ~123
19n no n'rsr199
ELEGYVDISTRIBUTIOtt ''':s:,StO, t 7n?,:yj?9vnt
06 WMRING t i t}r~~~,C( znyyxs ldab b68
4 .995
galdCi@S~. and 628JO9 5
r ; , x,,954
Supplies 31,597 319149 %2,073
Maintd6inde 13 9850 1 1175319 1279961
Services 32,150,. 289184 339914
Insurance 21,997 20945; 179746
1 Sundry 3,000 ^,613 2 ti4? ,'i,,'i107,0A
Capital outlay 018,171 rr.-'1-044 '$$4
1,1 ,87 19146,600 , j i!
tE rni`tr~ I
PRO RATA I'SHARE OF r'f `I) r' f'r 1
UTILITY ~DMINISTRA it rr:rl
ffON' EXPENSE
Salari s and
wage ' 138j207 120j702 ; t -1111,798
Supplies 6,869 6,980 4025
j Maintenance 39515 4,307 ~'rr T r iqr?j7i1
Services 212081 179,959 0" f:194 ,038
~`SuAd~'ri ,.l1 1,080 10321 !r'.' 1z 4,•36
Insurance 762 1,114 "7.'
~dapitel outlay 1s750 1,631, ~fi9r ,nr71 450
364,964 324,020 ~Fq f),1316;222
3
•A-41
city: of;, Dentony Texas :i
Electric`-Syste Fuhd ,
STATEIIENT OF', APPROPRIATIONS' MD EXPENDITURES
ENCUMBRANCES,ANO TRANSFERS (LgNTINUED)
Year 'ended September 30, 1;178
Expenditures
Expenditures, and
ReViSed encumbrances encumbrances
~t y,. n.~."~ °>y ~r,a adproariatiot~3 ands transfers .PvA4l:.YSgl.. Cl;
NONDEPARTMENTAL
EXPENDITURES
+In"Wfist and
N464 ptI on f yL, 1 i 11 (1! i ~!"(f S
E;,°reUirPJrents L~r,''S, 1`"1492,115 $1;_1,867~227
Tfa0fers to 4 k. , f .
fld'Wwal. pnd ~if£# k'~+t,r ,s „:i~~ro°(2rl1
c{ Admints ra- ti tr;wC
~6 1' ices ~Afi,f,ii, 15369000 R 095 ISO 456,968
Return on net 11 It
investmnt 110129823 1,012,823,x,;;, ;iT"eV850st'""J
Bad debt expense 930800 128,694 1+~;tAJ2l SUO'
Sundry - 3 427 t.nc.
,","IT= I
f Y~~;1 fj '1 (r I'Jf I~~f~t7
17,318,941 .$116 s6161205 $16,662,438
ADJUSTMENTS TO +
COlNh1f RC I AL BASIS
Endumbrances -
prior year 158,486 128,866
Transfers to
Mond pays ng t i
ajents (1,492,114)
Capitalized
e)tpenditures ( 689,081]
Traci: fer to
'Ieneral Fund -
'.;return on net
d(1,612,823) (8$6.,1.68)
vestment ,
1ocumbrances -
t~;urrent year
;,Y40tion pay
accrual 12.456_ 60,773
$ 13,593,129 $ 12,613,316
A•48
M i Ir +r,S .i
Ciiy of Denton, TeAas
Water and Sewer System Fund ,
BALANCE SHEET
September 30, 1978 and 1977
ASSETS 1978 1911
i
CURRENT ASSETS
Operatirr Fund $ 4,856 $ 5.807
Misce,i~aneous accounts receivable 457,350 166133:,
Due from restricted and other funds 82 4 22-6
Prepaid expenses and deposits 46G
RESTRICTED ASSETS
Revenue Bond Debt Service Fund (Note 0)
Cash I 1 r.; 1!10 1525 509509
r i u r,c,r , r, n r f: r i,~ F
.
Time deposits and accrued interest 6813p3
Due from Water and Sewer System 163,325
(Operating Fund
Revenue Bond Construction Fund 350,246 578,189
Cash
Time deposits and accrued
interest 2550143 429540
;
Revenue Bond Reserve Fund (Note D)
150204 185,929
Cash
Time deposits arid accrued
interest 636,381 330 659
T_sMsM ~TIWO
UTILITY PLANT IN SERVICE (Note A) 313,527 223,89Fi
Lard' and land rights
water utility plant (less accumulated
depreciation of $4,832,209 - 1978;
$4,499,372 . 1977) 8,0549641 89218,201
Sewer utility, plant (less accumulated
depreciation of $3,9349561 - 1978;
$3,7159165 - 1977) 29471,453 2j607.0136
Water rights (less accumulated depre-
ciation of $125,032 - 1978; 125,032 1301033
6truc ti - on in 1977) process 689ASI 496,293
Consstructi If 4,1(13 :1,676,359
INVESTMENT IN 111TRAGOVERNMENTAL SERVICE 108,975 108,915
FUNDS • AT COST
$ 13,573008 $ 13,312,951
*EMMMEMM"M~ v....m.
The accompanying notes are an integral part of this statement.
,A-5o
.4
?r
1978 1977
LIABILITIES AND SYSTEM EQUITY
CURRENT LIABILITIES (payable from
operating Fund)
Deficit positicD: in pooled cash $ 6271108,,ji, Sr 727,021
(Note C) 1i,296~ rr;'?+r :r 7,110
WC6011it4 payable r 1 h, 4992
AccNe.4 payroll W.dacatlcm P&Y
Revenue bonds payable wl thin one 2029908 0209,645
Y6ar 4 196 057
DUG,to.testricted and'otFser funds 94696 4
LIABILITIES PAYABLE FROWPESTRICTI'D
ASSETS",! t .
, ti,,tiraa•
,Rend Debt~Se~ice funi`.
RjVRaArlue ue B 8obonds ¢a~iabld wlthinone `^16c►092s-11etnrn~A14~;955
K_ , t s< l
yAar 63,826 r,j'rfvi2 670878
f .
r ,sAcemed intere5t~ try s r ,,yt,, xr+I
+ RAY6due Bond C1nitfuttion Fund tr5tge jdst ~r;s; 20,371
r,!ACtounpayabl$241 323 20 45
Odj\jQ other Water. dAd Sewer 162
System Funds 'rn , 9
LONG+TERM DEBT (Note 0) exclusive 6,230,000
Revenue bonds payable - 5;8b5,0Q0. 'r
of "turities due within one year
SYSTEM EQUITY 5510590 516,588
Reserve for revenue bond contingencies
Contributions from municipal or other 2$489481 2,751,412
nment units 2;427;403~i~ 29284,927
goverContributions in aid of construction 465 40 12 866
Retained earnings (accumulated deficit) ; i 1 I 0,
jrj"4 J-7
COMMITMENTS AND CONTINGENCIES (Note E;
s 13,673,008 5 13,312,951
t
City of Denton. Texas
Water and Sewer System Fund
STATEMENT OF OPERATIONS
Years ended September 309 1978 and 1911
,
1978. 1977
Income (Notes A and D)
a`,:Water sales
Customers'!- t! $ 2;206,051 r-+,~~ r+~ 116141167
Intragovern►nental
Sewer service charges rf1;i83;759~:. r817v747
E ,
r..+ Other 2 867 361
-"i 5041981
Expenses !
Salaries and wages X649 331%1A
Supplies 139,519 136,v638 P.
Maintenance 4141"S
Power osi , n l it 4r; 41 j450 rb7u i .9 r341 Y1.49 •
c~P,~~'aJmin1stratiire ~erviees 252,625 ~e15~,323
818, Services 14094229-f,;± tt t + 114 321
Insurance r,~`, r~'t18~879:70', ~fn,s~ 15,916
Bad debt aRd~'sdndry expenses 23,3}gde,ar; ~jnur39 131
4 19 V; 18 70
Operating:-income before
depreciation 1,499,384 801,077
Depreciation, (Note A) _ 557, 36 _ 546 R
.
Operatin9"Income -942x148, ; 254,176
Interest income 139124 67 804
1,oTs'92'12 0
Bond interest and fees 322,364 < ~i16 b35
:i• t' `S;":'' ~ :i(r ri
Net,incoma, before transfer r .692,908'
92,908 5;945
Oisdretionary transfer of excess
revenues to General Fund (Note 8) 180 000)
NET INCOME $ 5129908 S 5,945
The accompanying notes are an integral part of this statement. 1
1
A42
r. -
~rrM+
I mpg
4_ 4~ P 1~ -f 7 J Y
y `r t !
t A 4 M~ I~I ~F R
C;ty''uf Denton, Texas
Dater and Sewer System Fund :i
STATEMENT OF CHANGES IN SYSTEM EQUITY
Years ended September 30, 1978 and 1977 `
a
Reserve for revenue
~bo ontin encies
1977 ;
Balance at beginninj of year $ 513',588 S 460,018 :a
` Additions 35,002 3b,510
Transfers from Operatin Fund
e' Contributions by'devel'o$er's' ehd
others for water and sewer
r system improvements
Contributions by customers for `jater
and sewer taps and extensions
is
Federal grant receip
r ,
Net income
Deductions
transfers to reserve for revenue
bond contingencies _
$ 551,590 S 516,588
Balance at end of year
The accompanying notes are an integral part of this statement.
A~S~
Contributions _
-F4un c pa and other
f o er ental units ~M" In a1~d- consteucWLq a e 4 1977
S 291510412 $ 2,647,422 S 292849921 S 2,185,454 ; rr(1 ; ~4)~^.S :17,759
i ' 549292 r r
r
~ Z"l:f1['fa'i~a 'r3't~r ~f!UY,~s„^ ftt;~:'1 '3k
88,184 489§73
(9711069 1030490 - -~30~ , a ~ rt 6'1 + f a~a5bt l;
r - -f+)~ r 0.31 ~~tti~1 . 4 97,06 9 5
19G,9JV IGF q 7 3 9t'll11 1 50945
Il( ;~il.n;, [,7i aCr ;ifl_'111i~bf}9;wr ::•l COOq ~,'fCte
-312.002 36 670
S 2,448,481 5 211151,412. $ 21142111403 $ 212841927' SL466,0441-12,866)
I f!o; v ;I
E
Vr
l
A•53
City of Denton, Texas
Water and Sewer System Fund
STATEMENT OF CHANGES IN FINANCIAL POSITION
Years ended September 30, 1978 and 1977
a
1978 19-77
SoUrCes .ofa tir Ong capital-
Z' r"
E
u t oper.,stions
Net income S 5121908 t 50446
Char0`n6 Cre4uiring ~
working capital 557,236 5_.x.301
Depreciation
Working capital provided
from operations 11070,144 552,246 u
Contributions from customers
and developers 1420416 9$09)7L
ry ceipts - MOW 148991 su
Federal grant re
r._Decrea~~:1i festric.ted.:assets
r~. net $f~lis911itiefC$aybble tai, irCctt r,{;t~4...
from restricted assets 1820625
Issuance of revenue bonds 5000000
Repayment of investment in
134 791
Motor Pool Fund
Applications of working capital
;Additigns tp;utility,plant
, 694480 5401227
in service
Reduction Of 'long-term debt 3659000 355000
increase in restricted assets
net of liabilities payable 403 638
from restricted assets
959j98U 1,
INCREASE IN WORKING CAPITAL 532,334 131,135
Working capital (deficit) at beginning 1 011 915 1 143 110)
of year
Working capital (deficit) at end of year $ (479,641) $ (1,01:1975)
City;of,0enton, Texa
Water and, Sewer System,Fund
STATEMENT OF. CHANGES, IN FINANCIAL POSITION (CONTINUED)
Years ended September 30, 1978 and 1977
1978 1977
Changes in components,.of working
f cspital
! Increase (decrease) in current s!{}''
assets'
Accounts receivable ; (951) rr,S :;.~d,b94)
Due from restricted and
other,.,,fupd,s 290,917 1J3,813
-it
Prepaid exrenses
(increase) ~decrRase in cu'rr'ent,
IIabiliti~5~,~ t)iar;.' h~.,r".f ~itislttlE,).sh~
f:, Deficit position in pooled 2g,sirrl
,~~1 casF~ r;1;,ra~ r;~u; W'i 99,913~~r:,7 ~in189i9$b
Accou64 pAyablr fV0 1)l (4+1 )JU IJ2,ru t1 93
Accrue4~- -soli anC Catlo'n.'
a (6,617) (26,056)
Revenue bonds payable within 231(6,
one year 69137. (14~4,44
Due to other funds 114.6 520 <1<< 8 961(
Z41,1b/.. :i r;. +
INCREASE, IN WORKING CAOITAL S 532034 ._b ,wIO 35
The accompanying notes are an integral part of this stat.ment,
I
A-5
i~
City'of 06 ton, Texas
uaw and 3ck e-Systeni'FuAd
STATEMENT OF 8U06£TED AND'ACIUAL REVENUE` '
Year ended September 30, 1978
i
Actual
Revised prior
budget Actual yeer
* r
WATER
Customer sales}-
i*0dehtial $ 11200,000 $11230,,076 931s982
Customer sales ,
oar nercial 909,000 907035!634,582
>'nalttes 50,000 68,640 47,604
ti~t+~agbvernmenta} 480000 700198 56,617
TaFpin9 fees - water 40,000 $8,871 48,78608
Sale of scrap material 1;000%1691
Miscellaneous income 1,9600 1,176',rEr r 50672
Inter, t. 67,804
1ra`te - Por resat 17,000 14 779 d 100089
'A'id in construct'16, 1 1 1 000 L090 r~•' 23 561
SEWER ,NvM
''C'u3toi e'r sales
Fesdential 656,000 572,485 425,036
Cuf taper sales
commercial 6229000 5809593 354,556
Ta0ping Pees - sorer '16,000 191313' 121802
Sewer extensions 20000 19414 149150
Intragovernmental 80000 2,333 822
Sewer fees - other cit,Ns 14,000 140196 91882
Sewer fees - industrial water 23-1000-aaa 14 'M 271451
$ 31616,000 30644,066 2,611,758
Adjustments to commercial
basis
Contributions in aid of
8,973)
construction i.9_2,6.8_8 R7.804)
Interest revenue ~t S 3,478,254 $ 20604,981
A-58
City, ,of Denton, Tex#,s,
Water and. Sewer System FvnA
STATEMENT OF!APPROPRIATION$ AND.EXPENOITURES°,;~
ENCWiBRANCES W TRANSFERS
Year ended September 30, 1913.
Expenditures
Expenditures, and
Revised <<r encumbrances encumbrances
appropriations,, ,and;trantfelr pryeAO
WATER PRODUCTION
^tra~Salaries and wages E 188,10' r,$ 179AO-, ~:..,,16$,U48
Supplies y, 96,842 , 92,158 ;u~~ X661
Maintenance 18,442 ; 19,104 ~r,~,,~1s4?S
Production power 224,000:, ,c5 26P:55e ~,204r368
Services = 68,485. !5,880 ~~;y949
~ 11 itAl outlay x 11,459:r r ~ ~,~35 Ijr,5 #6jil'~ '77
629.7 2 545028
WATER D&STRIBUTIOf1 7r~ t, ? A ppq
AND METERING r~+r~:i~41VaOA FIJi1U
Salaries and ~~.~~~uf iv~4~ X3 s101T
j wages 243,140 220,542 ;rs6 S!0-3'0099
Supp~iies 20,303: 17,349 gyre ,042
r ;Maintenance 139,368 1280849 7,11,0.098
',Services - 28,242 27,672 t,rsA A72
Sundry 243 668 „•v f.,
:apital outlay 114,900 136,143 7x,167
Insurance 5,138, 2 456
551',334 ~l 4409069
.
SEWAGE TREATMENT AND
DISPOSAL
Salaries and 1tp; ;
4 wages 205,742 193,987 ,177,851
Supplies 35,172 32,121 r<<~,11:369 379
Maintenance 37,295 36,945 44 *211
Production power 167,274166,895 136,891
Services 13,380 12,643,, 4,575
Capital outlay 13,978 f 11s86 I, 8,395
Insurance 2 827 2 510 x,,G
475',668 456.96
r
A •59
f.
,y; :?t• 'may A'n h, F"T'r-.'
City,af Denton] Texas"'
water' a1td' Sewer!Syitem Fund
STATEMENT OF APPROPRIATIONS WN EXPENDITURES','
ENCUMBRAIICES'AND TRANSPERS'(CONTINUED)
Year endd September 30, 1978 '
Expenditures
Expenditures, and,
"Revised encumbrances encumbrances
_ y., ''ir7~ f r~ ar,proDri ti0ns and transfer~, orior~ar
SEWAGE COLULTION
',Sali'H s'<and wage9 3 204,508 $ 180,824
Sup' lief.` 13,189 ' r . 1p~6 7 <r 12,176
FfaiRenance r 82,250 s, 75,1 pp7 x601833
z~~WVItes 260100 { 1 621 l7j"l
<'S'undr 4,600
Cap`i'tal outlay 68,960°w+, t, 48, 95 m,~~~~, #27~r2
ance 4845~f. 3,914 9 0
'
%
330,793
PRO RATA SHARE Of 'l[Ti%in'~i0 P~T.A~
UTILITY ADMINISTRA- P: TV GttA
PION EXPENDITURES t;nb Zr Ht i(b2
~"Wal'Mes and
l r'tSa`gges 6011616 5G0815 zs t 40042
~GA~1ses 1,870 811 c,f,y,ne984
-Ma fKtenance 111215 125 v-1657
Services 609710 44,874 146;858
Sundry 415
insurance 503 4:7 ,:248
Capital outlay 700 - 747
126,089 103,S y'99,439
NONIEPARTMENTAL
EXPENDITURES it
Tr'a'n's fern to
,t . General Fund
Administrative; fiE
services 1799345 252,624 152]323
Return on net
investment 180,404 1809000
Interest and 1
redemption re- ;
quiremen~ and
sundry 680,817 678,5'.6 6389456
Bad debt expense 17 185 192014 39,131
,75 I,T~ 829,910
S 3,221,463 5 391849565 $211617,725
A-60
0ity ef"Oentonf Texas
water, Sewenlystiw and
STATEMENT OF APPROPRIATIO11S,'AND EXPENDITURES,
Year ended September 30, 1978
Expenditures
Expenditures, and
encumbrances .:encumbrances
and transfSri-) i r :Qrior~ +r
ADJUSTMENTS TO
.'(COMMERCIAL BASIS
S 2
Encumbrances
~66Q; 20,003
prior year"' T,
Debt serVtG9 i (b78, 36)rn~4z^7(63$ 466)
requirements
C;+Qitaliiid ;t 56r 74),,, fr:01(311,086),
rLi ,fl i~~l+ rXpelwt totes N .r C. .1
Transt@r to ° ; .
Geneeal Fund -
return 0n net (180,040 X90611 TK;t~I UP
invesi4At'
` Encumbrances h?h(u c ~zs~
^tF,i currodt.$dar
r ,Yacatiaritpay` 69155 18,518
accrual
EXPENS S $ 11978,010 $ 11703,904
A•61
S" ri t ty
Cjq OfI,Oentori TliXas
I6tragoverroienta1 ISOMco funds
BALANCE SHEETS'
September 30, 1978
Total Working Motor
~L C3^ ip to1 Pool
ASSNS
CURRENT.ASSETS $ 2920816
win Pooled cash-..° S 2920818
wit
(Nate C~
Time deposits and 27,501 21=501
accrued interest 252 252 a
9947
Accounts receivable 478,443 141.9 505 1 1
I,jVehtoriga (Note A)`- 1500998 141,
~
from other, funds c 57~~` R
'Olue Ik ,
papa'{d!lnsurant.
950,582 620416` 3~0,2E:
a'.CI S 1'GiTotal C~04nviisetS Aa f'f
i:, r! r 1 L ' t1 1
631703V:+- 2,728,670
Gtirr } 2x792.467~33«s~rx
EQUZ KKK (Note A) •x'24 762 a 1 319 335
Less accumulated 1 344 091 t r 09,3
t `.:dep~'eciati on
S 2,398452 S 6599351 S 1,7;9,601
r.~++raa
The :I000MPBnYi" 9 notes are an int0fal part of this statement.
A•62
777,
LIABILITIES, INVESTED Total liorkingg Motor
CAPITAL A?ID RETAINED Memo' Caoital _ Pool
EARNINGS
CUAREt# LIABILITIES
Deficit Position In S 362,022 $ 362;022 $7'1714; `s
-pooled cash ,('iota C)
Accounts pay461ej.<•
-accrued pa 0611'and 90,468 74,486 .16j382
vacation p y ,n`d 127 127
.
. . ~Dul to. other fo ^5 ,'s
cu
fetal rrent 452,517 436;235 16►~2
liabilities 29$:y~~Q 4 jr,fi,nfgo
0,1 ,1 1 f
'LJfESTED CAP:i fey
nvestmeat byj',Ile tric ii, , l~ ,747 180;747
.System Fund ~e
Investment byfljtj~ and 108,975 108a;975
-S"er Sys:IRs- uhd
`tohfributed (General acial 1,038 268 1,038 268
Revenue funds) 732 T'$
RETAINED EARNINGS x:684,951:
(ACCUMULATED DEFICIT) 61 3 661606} ~
3 ?,399952 S 659,351 S 1;739',601
A•63
City of Denton, Texas
Intragovernmental Service Funds
STATEMENTS OF OPERATIONS
Year ended September 30, 1978
Total Workin motor
Memo Capital Pool
Charges to other funds $ 19556,632 t 1,293,590 263,p42
Less cost of material
t. r F ;t
Beginnin5-inventory.; ` 476,768 4,)'(5,76f $
519 1,030661
Purchases 1 030
A 9,
c ~
>:r.Less ending' inventory 478 44433 478s443,
_
a 11028.'844 1.028
~M7j788 2640749 2630042
Operating expanses
Salaries and wages 216,)'87 216,187;,=
Supplies 13,480 -1 tIf
33~e~
44intenance ~AC,081 ~h, 161 81691 8.601~n ! s r 37 ±w •
Services 21,313 I:
Insurance and-Qtherx e<<,:.rt 3,183 3,3~,Y;
Depreciation (Note A) 269 055' U7
(Loss) (49721) (4.216) (505)
OMiseellaneous' ncome_ 2,931 21931
iIt►Lere~t ~::c' : _ 4.739 - 4,1?9
NET INCO"E (LOSS) $ 29949 t (11285) to 4,234
The accompanying notes are an integral part of this statement.
A-64
~a~rrr
.city of.Oentony Too
Intragovernmeptal Service Funds
STATEMENTS OF CHANGES.IN 1MVEST£O CAPITAL
AND RETAINED EARNINGS
Year ended September 30, 1978
CHANGES IA' INVESTED CAPITAL
ri t„'J
Total Working Motor
Memo Capital Pool
Invested capital at
October It 1977 ,~;Ii2b4 MO 289,122 $ 9749818
' Addi~iogal invested by nfdt ~~x ~ A)1-1
General 'Fund 63 3 0 ;6?t390
Ir1ygj~49 capital at
f September 30, 1918 1,3219990 $ 2899722 ; 1,038,268
CNP4G9 S IN RETAINED EARNINGS
Total Working Motor
Memo Cali tal Pool
Retained earnings
(accumulated deficit) at
October It 1977 $ 615,396 $ (65,321) S 680,711
Net income (loss) for the
year 29949 _ 1 285) 49234
Retained earnings
,accumulated deficit) at
September 30, 1978 S 618045 $ (66,606) $ 684,951
: ht fiS„`% r~ t ( •;,r tg rt ,::Jr;~ {'I?~'~1; 59i•Ii7.,7~ f
Tn•', accomparying notes are an integral part of this statement,
A-65
-C4ty.of-0entoh TOWS
Tr3st andFAgency Funa
PAYROLL FUND
BALANCE `SHEET
September 301 1978
ASSETS
Cash S 222952
L I A ILiTIES
1,t
,,.FICA taxes payable t? r;<~ v It f ~T y`~ 9`y
°45s4~3
Other poyables,
t, c L~. 22q 952
The accompanying notes are an intigral part of this statement.
A J,6
".rid : , 1.: '.e . l Y n • r. " . a . Y City of, Dentoh Texas
STATEMENT OF GENERAL DEBT
September 30, 1978 and 1977
1978 1977
Amounts,availab.a and to be provided
for retirement of general dept
Available in General Deb: Service
Fund $ 4~86F,- 5 ,ti161,517
Future requirements 4529A61 11056 483
5'11;533,934± S:,126024j000
`r
i-0 if rid i..YZ ;1 ~t{j (rt tl '1?f.J)"JD5}
'GiWdl debt (NotVo)
General obligation bonds and
„~r•ir_
warrants aa yable } g If a1 $911 3Y69jOW,$-i12j0241000
Cent ficatestb Cob i ation 0 n
payable 125,000
-:1Wallment-benk''dote Oayable 903415 srz oDn.1te,F
$ 11,`33M4 $ 12,024,000
i
i
i
i
The accompanying notes are an integral part of this statement.
A-67
,
j 4 1Y,w Y " rr}. rrf ~,i T T Y
of:L~nton Texas
City
STATEMENT OF CHANGES III FUTURE REQUIREVIENTS
September 30,,1978 and ?977
1978 1971
of $ 11,856,483 s, 9,304,562
Balance at beginning year
General obligation bonds and
'cittific&tei"bt`obligatio'► 125,,000 x734000,000
is~ued`.during;the y6ir
lnstallalent oenk;hote'obtained 43,276 -
duri.09 the year
Decreas`ein amount available 16Z►d; y r112~921
in General Debt Service,
Fund ,r,f ~u5*N ri,t±r,~3~t`
GBOOdSqgartant5r'4Ad o0tetprlnciPal „C ; df, 58 31t2~js~h 561"000
retired during the year io4k ,,w,
Grt;,r'r;~ 11 629~OF6 "s"'I1t85b,483
Balance at eiid of_r.year , AVOW
r
I
A-68
77-... At h
Ci t~/T of C4-h` bn`1.11' W5
STATEMENT' 0r thAkES•IN tEkCRAL FIXED ASSETS
Year ended Septefibee 301978
October 1, Net 5eptemtiEr-`30,
1977 Additions 1978
GENERAL FIXED' ASSETS` : ! .sr,~~ ,•r ri ~yT~c.~t.
Land and land improyements $ 29573,459 $1,024,036 $ 3y591,49$
Building 11955,782 6100448,ri Jp l r, tje,:,230:a
Streets 13,075tf561 1,977,367 15,052,934
EqU eht'and athA►` t' i c 6d f 5u r: ~ r,Wj
improv~rSts'~ ` , , 1,948,321'; -.237-,054
Ce?sst0atl~nwork:in,~,i 4.rI?JI, w:.rttbu% Jlli gYlif~U f1Jf.~v,'
fIQ ~0&043*r ~tIC C„ r tL;9`rr tr M- tr1 ~J_14'53'!:?nUt r4 1,031, j zt P0169400c)
x' nw i ~a~+t~i 104268 482: bcyr 5 ~~:~73f'4844 j;i 4' Z3;,9W;42& i
1AVEST IT.tk UEA t nth i r- I6'U 2.5i r(NU 3G ~f t FE' ;';y G~2fra~ 2Sf fQ~fl9Yn
f~
FIXEn ASSETS ~c'05 9Q6I5V6
From proceeds of
general obligation JbviS~yA 2~nu~3~rs
bonds S 14,9 4,3 2 $ 2,141,925 $
l7,llC~,2~37
r, tFY4om itCtYr r r'ent "1t:r lka ^,'yy'f?VC Ji-I'J'a a .?f.t rV( S)f,~s f0 3:1 f5f b9 u Jril
r,d}eWN "it 21765 •rN 2'1',748 `+;sz bn ,03~r51'3't
' f'Pr ton Fibs"tib~1 t r . btu. ova,', ~~3ra r9~
lhd 30;#zCIJ1cfJVO'o ¢s 3 481a5a5'ir r: 1`36811~i 7'1~ ~`4'ra 6
- Jk. ' c i,f, IL c° s! l , +ten? i it _ .i,,T"`~ EL•I `i J`~Ji ,.iv~
S ?0,258,582. $,39737r844 S 239996,426 J
r •i' 7. ~!1 i ~ ~ I'., .'i V' i ( a ~f: j i• ~ 1~ it t?`7 ~A,f'`~ii''JS: `~?.i t°.s ~,J a,.. i'it i ( I',. ~i. ~Q
~S l't11 y's!~!4!s7
~)iv132 b.31!(dnu
a'! J ! f~_ .I f!~ tC1 ,r 111-! C)QbrV-
_ f
t
tG 9lf,r it i;;f; 1'V6 b bJ;i' !;si7u [r r9~ ?x ?i 9rr4,1 _);1f (6:f6.4 l.;J6 Bfli PIE6 EQr19
The accinpanying notes are ansintegW,-j part of thisiitatement,~, t. bnt ?al,E8S~
A-69
w , t? y ;i F r i N 3
C1.ty, of.,4sr~S9n>>T~ f
F, 4Tg$ 7.Q~ E,l1i G~A!~ St~T~1 TS,~ X~ rz
gept~nbe; , 30,;1978, ~r~d~ 1~17.A :$u"RY Qf ACCOUNTING POLICIES ,
12
'The foltow% ii a summary of the significant accounting policies consistently
applied in the preparation of the accompanying financial statements.
aa<p~ oP_ Accounting
K s \wL1~`1"~ C= CV1,C:
i =Y. rL~
The accrual basis of accounting is !ol)owed by all funds oihe~ $hdm'py49 ri
ital,,P.f~
0 metal, Spec,iial Revenue, Deb's%:,$erYjce Funds and Cap oS~~ $
finds ~
which, utilize the modified accrual basis of accountofing. 9 and
of.,acc ~Jor)all funds- fm'.purposes eyIi* budget is ue,.__...
the City's ; JP external reporting, them a Service Funds, of accounting
i .t~v~sedai~ the #:prp,r~se,and lo-trogo. rpm
I ~1V1TFi~
Inventories consist primarily of supplies and fuel and areyx¢]pg~ !n4
average cost. io 2r9s-)o1q t.;r,
no t3~~iido ~r9
Accounts Receivable fs7z9ii9p
S, I k S Ve' M tric System Fund arg;~ pQy~} bage
~eV in accounts receivaD~le in Incu
for wa r Snd sewerssg ~ rv es {"rovideg by hg Water ater receiandvabJSewer Fund jq,4,9
,
'e' ` ~i~ilit,4;; gt$j,},~5 , gd by
aryls es ` red enerel Fund.
to facility*~ ~csounting and• 01,o;~ qg ~e.4, fires
thg ~ Eleo tric System, fur4jG.l
Each-Aud records Its-own -portion cr the revenues and losses from t ase accounts. bas
billin
to cust ervicesarovidedn1AQ a result ofi-this cy lelbilling methodgsthe Cityomers
services- p
unbille~ service at thk+ end of any fiscal period with respect to service pro-
vided approximately but not b date. The OOO attSeptemberl30,r1978vande1977 rented
to
to $>630
spectively. 1
Fixed AsSets
Utility plant in service of the Enterorlse Funds a,id equipment of the Tntra-at cost
date o governmeital oon. Oeereciationehasrbeencprovided valtraightue-liatne methodfia
amount cn-
P
amounts sufficient to relate the cost of assets to operations over their estimate
useful lives.
During the year anded September 30, 1967, the net arrying8v lu of athe electric
system utility plant in service was increased by $4,851,49 determi
ned replacement ationncrement is being amortizednatpandannualnrateiof
engineers.
$283.158 and is charged directly to uUnrealitedYincrement <ih-valuatlonj"=a`
MO
17
Gttyi'ofrOentQniF,Tgxos
NOTESITO,F)NANCIAL'ISTATEMENT$;(COMTINUEO)
September30 1978 and,1977
A - SUMMARY OF ACCOUNTING POLICIES (Continued),
component-, of the -System Equity,,:snd, is riot ,Included in ~the.snr~ual;dep
expense., The recording;of;,tppralsed ,values,; in eecess; of cpst; end ,the" charging ,
of annual depreCi,atiptt'flf~'03.~ira4,,Rfi 3x.h;:eXtes3,vaa~e~Ydir,tay tQ,,iy, Syste1A aap
Equity ratW than to expense 'is not in conformity with genor,01 y accepte¢.d; 4;• "
accounting principles.
General fixed assets purchased are"recorded as expenditures in the General,
Special Rerertue and, Capital ProlesZtS, fytnds e'c time of purchass, Such iASS€t5 E
' are capitalized at cost in the general fixed assets gro''up of ect~l~nis•y~~tP.t;laot3
or contributions 'a~t y depin ei a>rat,,fixed assets at fair nlarks_~ klucn~ o
the time received, N6"d-
epreciation has been provided on g@r1 Ali ,f~# ¢ asi$ z
` ala~~ b L; I 9ft3,r~47 61 4MZ'
m erty Tax Revenue bns i t,t3$2v 59~,'$~ bn5 '1916W
OSOIM) (~Dt.~S?} jnuoo06 gntsa.15g0
The City records rppr romp ~rty~ taxes in the year in WWO, thlt AW 06. A rat:
received. , For pur yg Sri accountalZi,' ity, the City records delinquegt-:pM erty,joN
taxes receivable as h aeset, but offsets these amount%,,tdtN;k,ro1Atkd,Lrgs,vve,~Y~ '
for uncollected ta)cSL,';7 bn„1 a:,~,c+'TQ :9atv't~? nEmus
Revenue Sharing Revenue V0Lj1TV.0
C f i , 5 b)ul 11sir"
It Is the City's policy'to"record--all"payments from one entitlement period with-
in one year to the uteltt, practic 1,e:.',o Qurjng 1477, the ending date of the
entitlement period was changed from June 30 to September 30. Consequently, the
final payment for the Ent-i'tl-ement"°pei"16d"ending September 30, 1977, which was
received ir, October 1977, was accrued resulting in five payments being recorded
in 1977. The four payments relating to the entitlement period engipq; J~pte tr, 30C 1978,
were recorded as revenue in the fiscal year 1978,
't,nL'~ r~:''r_' ~r~t,c.2 t(76 "19f61+
8 - 7RAN$FER ,OF KCi+S$ ;REU~NUE ,,FROM r7HE- {ITII 1T.Y.. SY T,Ei~ f.UNDS. TO THE -,4"' 1 i,
The City Charter, alloys the City,to make a discretionary; transfer of ''exdess ,
revenues" of each of the utility Sys tens,to the' General Fund in an amount not to
exceed six percent of the "net investment" (as both terms have 'been defined"by
the City Attorney) - in the util,i,ty,,system.,w;in prior. years the .Gity,as presented
these transfers as, a Qirect reduction of, retained earni.rrgs .in.the , ti 1ty,~yriq;
in a manner similar to a dividend. However, in 198 the City changed its method
of reporting -,these transfers to,cgnfgrr lta, a,;"Stet"nt, of posit1,g0,.,issge by
the AICPA State and Local GovernmeeL,Acccf,rjti,gg Commmittea 1n Septer~ber:.l~,
which recommended that such items be included as a separate catagory after net
opera t r19.,i~►. pM ,Qr(l,os.s,erlct.~A ~tat'Mgnt, o, 4p ra.tions~ ,thetClty,~las,;rp;,tatgd.
Its 19 7 fipa ci~l: s,to.tangnts,to_gonfphlyi0 t~j~s prLesentati~rr, Thfs c~~~~e
has no eirfect on previously reported retained earning b t dQ~s, It fat
Income transferred to retained earningr:'by the amount of the trans fer from `the
respective utility.
A*1lj
zi V,
?.•~'CityTofr0entdn;.-,Tekii ,
NGIES'tO'EINANCIAL7STATEMENTS"(CONTINUED)
tepteMer 30, 1978-and 1977
C - EQUITY OR DEFICIT POSITION IN POOLED CASH
The 'operatin daslf of, certain funds,, as noted belows,.•is pooled into one bank
accat tint, identified Wl%any. patticular fund; The accounting,Ncords for
eacF 't1fNd i`ef1y 't a~~~eflluyitytd'ri {deficit}ipb5ltion in the Pooled tash~~at f
a~' followsY'~.7' „~'t'1'S ^ t I r'1 t: t7 f+'1 r MC' 9P y { ji.
Septemb` 30
FUND 1978 1911
General Ftffd~%," rrri A~ ~~'13.ct~S 44M83,1,,41ii fl39*413
Eld tY{c`~S SteI ~FWid tcf 1u t7~ 1 r,y G ;r t~
44"adtf ht- ^rrb; J~ ~ <:'s?zs Ailj'428jj342 nI (3017043), Zautiudl Z tia~ ~c~
Ope`1'at
SyiTWdsPVt9htl Vat(d)~ nc, bsAivo)q need ,2Cn~'rt~ r ;9 ~
Improvement;Fund - Zt~i lls 177
Water and_ Sewer System Fund un~'~;±R xb%A1:1 X0]4
021
,
(627j108) ~721
erating account f rrc,~~•,~~ ~,~Y
World ►(tddit3fil Fifed;w ni 1~i9 9dj rti z x, 382'022) 1 it)o' 2AJM vM0000 6611(FtA'fd'L!inlfy►,~ rb71~5~7 ~~EJ sr! .292818'n~^7'6598 38;"'ky
~a~ tt.aV'r9 g•
t CrinilHal! ~hitfeiGetht~,luAd3f,uxn!, =.1w~s;J ;:5~"lac ~u~~ ,~~z 9,1548 ~l~ uvlaar,~ 2a f,~
Human Services Project Fund - ~7,455~~; 'ay~~sCto nu ,cft
Airport Improvement Grant Fund (139,792) ; y r., y,ri°r4.g ± °
Community Oeveiopment Black 2,140
Grant Fund '
ru'' ?s~J t ry: r 1 I
,j i I f'tt J°.:•" ( 711!
~k! r 1 arc
; 4
t t e , r;t,r 1` 043i161 $ 608763
wr!S 1 tit t,,Y. i S
~
J. Ire F;
Z, ir "1 t. r J t' t U v I .i f
i „J ICI .r~I ~'?1"- ~tt.Yf,' ,c( t.'f t r t
r r' '"Y5* t: ri t n ~ I f7 f
F! .>I ~e ! ~tio., t 91 q,1
D : Coffd; OE8' '
Water and Sewer System Fund
As'df Seo£k4 7r '30 These 19 1$'., bonds..he h d Water whic are securednbys3wfirstvllen upon5tetstanding f ,
"net
uds" f the Watd4 and Sewer System,- are yable Annually in varying' 66unt
revene
re
throu§h 1998 with interest'payable semiannually at rates tahging from 3.014 to* 6.5%.
Tte"Ut has rdoJ6anted, in'the ordinances a'uihorizing'these bonds,, that It %4111'=
establish dertain fund's ah-d'Mke s0ddifie8transfers as follows t, '
1}: All revenues received Will be dep6sited into a "Revenue Fitw" frAom}
V4 t11 oper`ating"e'pWit'Will be paid.
2)'Ad`thd-rl0t'day 'day-'Of eath tort' ,thi' City"Wil1 deposit into an ?Interdst
'IM-SI6king fund't{a rata 4 - ci hf the"'ne)lt mbtVin`4 into..",igt `and
1 ' 1 ,9 i'r ` 1Uisa ! I >uru r Y~ .s2 1!0 ~ ~i114 Gf1 L L '•1
`~t4 ftC~iO'al'Jbym~Ki. Slpi fisrr :54 t, ?a ,
0~? tiF3't 78~2Pt,'fJ 9fi~Ej1 rd:;p Gnu ~4' 'i1rr'if~°. ~::+~'~~5!'' 'r~ ~"!'1'1<i1ch5'I~ st,u~1{f
A=1;:
•1 ,
x,Zr, k^ J f`!a F :1 e 'fit .G
..'4 T7.' r: 1,
Otty; of, Dentbifn Texas
NOTES TO FINANCIAL~STATEMENTS,(CONTINUED)
September ~09 1978 and 1977
9
0 - LONG-TERM DEBT (Continued)
F
3) The Cit will maintain a "Reserve rund" :equal to 31; .least,the.1 ir,
average,annual principal and iinti!rest requirements„on,all,-bQgds,
i` outstanding*.which,,wi ll, b¢ uce,¢ _tQ p-,'r, diibt ,service; f u,i
qr.,e004 ~v
any time adequate money,.fs not avail ~le?to the:l'tnter~e t atd•~'-
Sinking1und' In the, event- that;, .due. to the :,issuance of, r ~ vr;
bonds, the .fund is cless, than the average debt s.erv,icec;the City 1; ! .
` will >r ,ake' equal monthly payments A ,n an amount Adequate :;,n, ac rx f :a
cumulate the required amount within five years; after, issuance :iunbv9.
of the new debt.
If 6, r9; trfw1..0*11 ' bmj i eupv)v0i a a AI P tejtzrq!sD ~)j ( f fw eun4ve-! S to (S
IfAM. make, ",,a~oYa: at}pfer~•rilr arty "Wntb,, tho c- ago
first,.avi*tlabl.e reVenues).QfG thO~,. *1)4 Months sro,i 0 sad: ~t t
Anyiarnonlrb,renifning.;lA^Ue Ileitue?: vd1APwer Orgliai.nalfoAlthonug
transferAltto,:.thc other`, Funds` %iy,,b@;,.used,,f_or ,AN+ ,legal p~K!pQ;iori pnl
.s~oq~uq fug
The City has also agreed that it will set rates adeduate to produce "net revenues"
of not less than ,40 .times-the, annuals debt servlod :bivsr4ge~ ;Fort r!,1 thit Cf ty
will not,.Issueladditicnal Water,'ertdt-Sewer,Seyentfa,8on&dln1"9LgLl Mo a~tiove
noted funds c:rithin,;'the amoOt,ofair neyl rckiuired cto, bt tfteroirtCanc)%tZrdih!r,ues
are equal td,at, least ,10 ;timos,_the maximum ,debt .service requirement -A ter, the
issuance of the additional debt. Jdl~:_ r4,01,p9,1 moat 03
Electric System Fund r N > t , f f tw F3 t3 91T
ct; ,S.•y'f, -.'f ..°,;f ' r'tI;' -fit rtf 2nUt1.UiJy1
During Mar-`t 1978s the City refunded its then outstanding Electric System Revenue
Bonds (Oln Debt); :totaling $16,902000,-,with:the proceeds-,from itheNissuance of
$19,255,000 of Electric System Refunding Bondc (New, Debt) 'E,n.Progeeft rfr_o Ahe
New Debt were used ,to purchase: approAfmately,$15;500,000 .of ;goverrmlent teCuri ties
and estihilsii a $21250,000 reserve-lnd a;,$250 0O. con t1l ngency.1ftkn4 fgrtthe New
Debt. The' goverment. securities pathich !tature•'ion Aates designddttoifully,rprovide
for payment of the Old Debt, are hold in a special escrow accounVbyo trustee
and solely for the benefit of the holders of the Old Debt, thereby defeasing
their security interest on the rei,enues of the Electric System. r,-,This rrefunding7
resulted in the City recognizing aenet gain of approximately $890,000'which:has
been recognized as an extraordioary item in the Statement of Operetions,in the,,
Electric System Fund. tv 7, „rr
The New Debt, which is secured by a first lien upon the "net.revenues" oftthec,-i
system, consists of serial bonds which are due in varying amounts from 1986
through 2008 and bear interest at rates ranging from 4.6% to,.5.8E$j --)j f~, n
In the ordinances :arjthorizing, the issuance of the New„Deoti ithe~Ci,ty, iris EAgreed~,
to esVAblish various funds and make specified~t`ransfers as,followsa ?iOF,YfF~ t,•,F
JFT:.0-!0_113(fo,, x63 %Wj ri .)orrri3 z;nuor16 yn(v.nsv ni yffsunn6
1) The City will establistf,~.frow b6nd prole dsipra-rResenvoiFuri4%Offtn92 91u8
M250,000 and a "Contingency Fund" of $250;000. The Reserve Fund
A-73
} - " Ta 7 s a
III ty of oentbri'il TWI
NOTES' 70'FINANCIAL'STATEMENTS (CONTINUED)
Sep^tgrnbar ,~0, 1;I78: aRd, 1.91.7
D - LONG-TERM DEBT (Continued) s'}
will be used solely for bond payments when 'the other.-funds 'are
not addquate` Wand wiT1 be) incrdasi d~ if,additionai'debr is issued f-
The 001:1ngeni:y Fund its .td,W used -solely! to' pay,foKubexpected se,1uri
repalrsd r~episddrieYs~bti-the' S~stertt 1Y3ho other"Funds ar'e
avaflable & to -pay b`onds' if othen:fuifds' am not adequatd;lu Rem.,r ~r i r
ductiori Ir rthefa''funds-bbloWithW'specified.levels muft be Hr.
placed In ~'specifted `periods, by budg'ete`d .-payment's' from, `the Pledged
Revenue,Fund as notdd below, f,V~ } nirj tw q"o,401'b Iiv;7~ [~r:EwJ
2) All, revenue iil.be deposited into a.11Revenua Fgnd" from which hli-
# tp ' p n t
opsrati~j ai 4111 b~` aid uSeaiibh"nudl:l3~'~•r}11e'',
City 401 tr"a~ffar ratl, ajYai tls~le r l7ernrif` fntffa. rP,lFedged ,il"e` enu~~`~ 1 T
Fund OK1ronfi,OQi%thir, ,}o1 Tgrieiq} tr4adsfeA 111 bit, ma&VAftem nrak±iA
ing the`s~`~tral,s'fa~, `trtiy`~nAining'~drrtgtmfr`aiay' be'i~tid~lor.arry.tax~;~ri
f~i purpose.
ealirlev9l Son" 9auboiq, 63 9jfiup9hfi 291cr fnz r11w`1~ '01 b,s"pL f72ft tar VtO 9,l7
43 Thd Citi--ill ma4(d'sperCttierS semiahriual:~transfa>•r,+desi'gned :to` peg) son 'c
!),vaY the Oqufr*d'(debt,ruoMcorgd anent tddl~roduCe W vi ninfua baiance;un 1141,
~~~nroftS7i912(000~by:1988cinto►a+'"1978'Retirementirfund,'!,:The°e"Retire.n~,' ~~ton
`-,dj i dtfFdivditVhich' is,hraintaihddiby'a..itrusteLv s,Will be ,used solely lbup, ,•+f
to make required debt service payments, Jd b ie:;ToOi!bt yr;t ~o =jr;6;Gz1
4) The City will reimburse the Reserve and Contingency Funds fo_r:'any
reductions in the funds below the required amounts.
rlj j~ b'i4,numi-l ),t cj;i9 , C~li f:;3'1h~i riflf'11.t"I
5) 'ThelCity,will aransfer.,an amount 'equaI'[to.'8x'of the+'"Adjusted.Geds'!Vj
~~ri'Reveduatt';~(defined.at-fGrotx Rdvenua!rldss,'arfyrcost~ lricurrd& in, fugolyFu
Z9rJ i',Ling fuel lrto-Ahe'City)).td'?an 51mproven:ent,Fund A ,this fudd.wilb be J69r, weo!
w-jV us'ed'jtd pay" Iforrcoste;0f, Sy'stem' i'mprdvenents, or,, 3f,4d'otier. furidsif leF, bnb
`,r iti'~~~ar ,'aJallable - fdr! extraordinary'opeNating ~exp''dnses ,or paymentrof;,s ' jo ,r
'?='~<thtl New,~Dabfii,~14 ~,::-,;zr r•,sr: b n' tir;,+ , iii;
The C1ty,has also ac,4sod, among 'other things,i-to set (rates adequate. to provide
"Pledged Revenues"- equal to at,,leatt 1.4 times the payments to the Retirement,
Fund: Furthde j no additional ,debt may be issued unless the,above'noted Fun:.'s
contain the required amounts and Pledged Revenues Equal to 164 times the pay. _
ment to the Retirement Fund and the average annual debt service requirement on
the additional debt.,v r ,
General
Loeq,ToM Debt r 11 7r rl( ':1r-1
W-of ~Seoteinbdr:30i~-11978;i'=tha'City of, Denton t~}a g'erieral'obligation :s0ial bonds
and warrants outsfending of~$11+13691000?=;7hese'+borids anri Warrants pare payable r,,
annually in varying amounts through 1497 from tax collections. Interest is pay-
able ceniadnuA'li!raG~r~ate4 Y'angtr4 ~lront;MVto-.251 fosl?o tir,, `:sly 9iT it
L',w? ,":',azSA ~r7 U ,Oc'~C 'I C,' "Gr<11 ~;Jnspr,i1nr, 6 bat, +006,DeS,S2
A-y4
?Ynrx~,` AF'T •'rf R •f N • " . [ ~.f ;.._,,'Y',! t.-_i..F`_ q_~ ff , .y.i J f':M. r" t ; a f 1:.. 1
, d
City) of,,Dent6rf v T49hs
NOTES'TO'FINAfICIAl STATEMENTS'(CONTINUED)
September 30, 1978~and 197'
0 LONG-TEPM DEBT (Continued)
The Certificates of Oblig4tionl-issued in 1978; totaling $125r000e~.are ddej'anndally
from 1980 through 1990 ano require interest payments at 5% semiannually.,, Theflg-
Certificates are to be paid from `taxes levied to support the issue or from any
Net kefenU~s >"t :ihing"frGte'?the Gir ter and.Sewer.'SyistiM after;Making pro-:!
' visions' for'all?reg0eed paymehts,,uhder_,,.+he Water and,5ewer. Re6enue;Bonds~ 7
r' ! `~f CI '•r r'1 ~r J Gi ~f4 ! a.~. fi ~'V~ f~l .E I fil v,j
The;5.51i-~installAt hotL is'pa'abls.tora'btnki''fram,Geerali Fund Revenue s~,:in
` monthl r a c ysTof- 1 30r:thrb hjatine 1981 ?sr.rs~,E> ! <<a 3
t P g 0 sa f f tw zDfJ'ri ?L~'
E COi 1Fl1ENT5!AHD' OtiTiNGENCIESis rand z ~:,)Jn~{ t nunri ,r{s . rr1J b:1H9q Al nt ~1,17 j ~I
day 79ZP,yt;x 9VfJ ~J2~nt[t«~ J Jr3S !!'?YUr}Y~r 2`'.~!)QjJ~. Gflj SU a f~ Z 00 ~fQ b„ V,&Ct ~J
a.. ThY)01t~biaitGrrrntlyithefdef4ndant'dn~a,43uii))JjM*rhich the)ptaihtiffs' Nyel.1^e
quested that the Water and Sewer rater ihcr$aref, a`dbpted' b3~'th Cityj 64itl'Jilt On nE '
June 30, 1978 be declared illegal and that amounts paid due to such inZ+iase be
returned. The City bal ieves that the ultimate res iv>rion o ite ,cult wi1l;)nat J.
have a significant effect upon the operations of the Water and Sewer System.
(j: r10) 000.:.i e b-iU,71J tJ4iWr'DJ A G3 25i~aFt;!?!5 7r10~ E, ~JtD a.iT
In a~it4or~''tt~ th'e. li ti~'atioh' described' above; th'e City, l5+bne 'of :foam napted ~!~fc
defeFil lit?' 17~''a ~:FbaactJ~'iabiiit3r ca3ra'arisih 'fr~m 0'06 e4th lot' an` i-M%ts'yVf tw
tt,:y City f1~11~ "fihe'ag'4?J43teAbma e%fblaimed'by'the-plalm0f-1 resh al'Tidefhndattts
exceed,the'City"s'in§urahC'er'eaveF$ e'by'"a~pl~oxi+tia'tely S5t,Ai000..01'he3ri:tt bslieves
Chet"it~'has~'a'?hfmberz'bf defehse~aYailable~And;?that~in `aAy.alSe,'-'tht•:Citjr''sliaw
bility`rlill n5ti er~4e6~i tSr'ihs~,rafibe coVe7n~e.>r ~t Cc%r ~1., Fi' f):fr4i' Z,11,,Ul S !V1$z
'R f':!.', ~'r~~+•r (~~5 ~''i~FJ r~ ~5J6'I ~!6y ~;19'f r•, . ~t,i r'd r.:11 11 f. f1 ,1~ n
Agreement with 'texas ki/r:1~i at PokeK`A9eh? v - a , r r
During Septernbce 1976, the Ci along with the cities of Bryan, Grenville and
Garland, Texas (collectively referred to as The Cities), entered iteto`PoW0,J
Sales Contract with the Texas Municipal Power Agency (Agency), a municipal cor-
;oritiol`and politital~s6bdiVision bf the State-of`,,Texas:' % ~,,r
' t4.'. fib "?.1. jt!. 'i; .''~>r:G";t?"ir'!'r. I',C~r ,.:i t,•+f i:GeJ'!l,`~c
Under- the' temg! of ` the' a'gt oeft*6ti the +c tnty, which' was' created through concurrent
ordiifancb3:af. fihe Citie's`arid,Wch''is devernbd bya b}rd,of Di rettors4'corisisting
of'ei§htr'Mh;ih`v2is~, ,.W app6lnbad+by:-the•,'goYerni'nl~bttdyof.each: city°,-agrees,1ro
cons trtftf,~Iv eoblPe, 410t, #rlc ye`r~ra'tor< plant5'l to 'supply IdKe'rgy' and !i'W r=to The
Citiel f>>h a per<ir4 of not,le§s thalft 35 year'sl v.TM Cities` hawe'agreed `t'o'pilrrciiase
all flits5re' OdkY,and eb'ergy'regirit'etnent's' extbss,:bfi1he 'awbrt generstdd~byi,theIr
syt,i ~i>;,curtthtly in:exister~tit frW 'ttfe,Agency at' pripos"intended td dovert, (ar*e
operetifig'cOSts pf the sy§setn bird (b)' ttfEt'retirement of anVy debt`.inc*red~by ttfe
Agency." In`the'eVitit"that'reirehU6§ ar*-ins0fficieht to Cover+arJt"cdsts,And,NoEire
the outstanding debt, each of The Cities has guaranteed a por't'fon'or the.vrpaid5
debt based, generally, upon its pro rata sharp of the energy delivered to consumers
in the prior operating year. As of September 30, 19781 the City's guaranteed per-
centags is approximately 21%. At such time as all of the outstanding debt of the
A:7S
't 5 ~x it.n'!w a 'x 9r y,;~ r;•I~I? , ~ ":F
City of:,OpntOnjoTgX63
NOTES JO F)iWcIAL!STATEMENTS1(CONTINUED)
September 30, 1978 and 1977
E - COMMITMENTS ANO CONTINGENCIES (Continued)
Agency is retired and the Agency is dissolved, each city will be entitled to an
F= vided!A nterest`1W the property haled upon ,its pro, rata share of total (p(ay
r J e fl 1 ~-1 I ,l i ! r i~ x i'1 tl ~ I ~'C L o ..i i
lMents4Y i
( ,•I0'11 Of r ,1 a'.s, Z'A b~)O Ir'1')
s r, )
As of,Septernberj3D9 1978j, the Agency has.iss60-$300000,000%ofrbonds forjtbe :q""
cons truc;tiorirofja)1.i ni tot coal 4ueled generating-plank•Khish~is:'expected to
be opt!rational in 1982 and for the purl:W',- of a percentage ownership of a
nu°lea+•I .,powered'generating..facility:-itlltr'rs anticipated that the: totel.,'cost foro
bu11d1n91.of,related:trAnsmssi~A
th@,dcquis;tion;of these facilities a!ld?the,
fadllities will btu, in excess of $1+1 Billion,
Prior to the period that the Agency becomes s bpe ope administrative iwmas~!sgrood.~. '3
to pay a pra`' ata share of the Agency's 9e and dm,n strative expenses
Amouna) aid o' the~Agency lfow-tthese; expenses amo'unteditoIOpptoy';+I~telyi$11NOM
and,5130000idyrihy,1970Sandt,t977oprespectivelyr Prsrr°Z c,nK 30 -03 '6 t x`'uG>
5d b2Egi:)nt N:)uz of elju htbq Onuorn6 Jbril 05 16p1Ci ++bf ~ t,~) CCQi cur, en4
~.~ftl Li 'f f0 x413 eriT .t-gn'tu99'~
ced ir'a~catio a d Sick,Leayip J•1 rll
„c rv
nr, c,r)t r,;✓1L :7~~i9 1nG:J(inf"' E 9'u'6;i
The City allows employees to°d.ccumulate unused "acattion (up to forty, days and
sick 0,eaYe,(without,rl,imit)'t1; i1pgn i tcion,,At~Y Ecumulaxed YwOol.Mroab r ,
wil11JA+.pa','-0: ta, the lowhoyeei r,')enexdljy0- sict,inR he e sr n6tjp id,upopltt s7 r;a
+lp9rtr I rossrwhllej.
.
z.l;tan.3sut w1;i_1 pald: only
z+a.~i~t~:to~-9el~eY'a11y.~iccePted AoC9.Stntii►g~P.ri~cipleS~ra~oi~rAts,pA•IQ f°~99v>?~Nngtf~7'y
a,sd sio~' payj,are, .e; pensed when,pai¢,.excePir for%s enterprise iU)d,>nt„r ;
service funds x.rWe vacation pay is,accryW :>The,do,llarionlpt 9f•q,nuSe0..aV4
unaccrued vacation and sick leave at r.urrent pay rates totaled approxlmataIJ
$205,000 and X1,105,000, respecLivelyr, at September, 30,.119.18. , '_i
~tl(Vit~l etn rf.l ,c5 rj- rrt, r.~', ,I,~`2 ,'x1 r~l if.~ ,r •l ~J~ ~'9( >r ,
F- L Ni9'STAR GAS
During September 1977, the.Gity entered ,into a new gas sal es:,cpntrAct,wit,h. Lome
Star Gas Company (Lone Star) which provides for gas through 1981. The contract
;Irequires that,the City., estimate t i.ts future-use a~+~,Provide~~,pena3tSe; ,if,,actuAJ
,usage is'aess _than rl5 of ,;the .estimate.., The., City. dlso, agreed to,,retr9acLSvelY
Pay ctha i,rqreased price-' sped isecontrtcl< r iliac Jrecyreviousl.cArtttitvCG+}rith., o P. ' i
sequent -to, AFH) 4.1977. te .
slim lar (,terms, ~}1W96 Nh ich City had: pd i4_ apprAxlrAtelyi $3 . Qf Jqf G We 9-'r I
','r spay ,defis;tencios.~,,,Concurr,ently-w.ith.; signing, the he_ rovis141Ls of~the{;;
{',:Stan agreed to refund all payments madg under rthe; take or, pay p Q. . .
1'~iw
old contract .ar;d -the City in turn hats, agreed to .refund: to, custoeterss 4tfidtr,po
If, the,deffciencY Previously passed through.. X10 ,take or+ pay d4f'icjency; is n
adttclpated for r19716.) I. r
27trr~'trlo) '0 b[opvi q~) r- fr, +;j Ili 1( rl rrlr rJf,"Y i,1'1 ( (i~'Y r ,~il~Er ~9ll~ J:iJ
n JESw'uC'1Df'1U, Sf~Z iii
U.l
„ C ~dJ C'
~^y n' 'y4~il cl BUQ Gl~~t rl'
9f~J IG Ji4til G(,~i hF.t2;11y_'? I ~F, ~-rJ nll': :!ilY~ Y,i9J~^i txq~~ 2t ?~Ejisa~
A•16
rr -
n,f i
f a.' l•. Y 6 0'N e: .f Kr} 0` w ~~Y [ .~-?1 d~y9o
Y
City of Denton, Texas
NOTES TO FIN,ANCIAt STATEMENTS (CONTINUED)
September 30, 1918 and 1977
G - PENSION PLANS
` The City participates in a pension plan sponsored by the Texas Municipal
Retirement System. The plan is a contributory plan, covering sl.bstantially
all City employees except firemen.
The City's policy is to fund pension costs accrued. 'Ibe actuarially computed
valur± of vested benefits of the plan as of December 310 1911, did not exceed
assets of the fund. Total pension expense, ohich includes amortization of
prior service costs over 20 years, for the year ended September 30, was as
follows. it , • ,i."i ; ' i,~ Ii' 1',
9_77
General Fund $ 130;000 $ 103,000
Electra: Fund 520000 440000
Water `ai,d Sewer Fund MOOD 2b,~
Working Capital Fund _A0000 7~
$ 219,000 $ 180,000
mou~ 3
The firemen are covered under the Firemen's Relief and Retirement Plan of the
City The plan is a contributory plan, with the City's portion totaling ap-
proximately $44,500 and $28,300 during 197 and 1977. It Is the City's policy
to fund pension costs accrued which include amortization of prior service costs
over 30 years. The actuarially computed value of ves'ed benefits of the plan
as of December 31, 1977 did +iot exceed the assets of t1,3 fund.
A•7.7
n'.• , . ; ti r ,
717?
1
t}
4
SUPPLEMENTAL INFORMATION
4~a• .~J `~ti.:i E~~!+)}L:C~ c'ry?~~d-L E~-~~' t~i~f~+t,r~~[f
rl:~.~Q~ t.~JrG trot. `.fit
f Ce tt(;r,f, C , lrv:., > -C1 r E'•'. ai- ~
JiiCNV.l `"3e
C7 r
L!.'.. Ct' !•~C. }Vr.'fj.. FS(
r
A,79
77
rx*, wla:~ r
m^J Df y+ 1d°: 3 ''f'! t" t . ,v '3
City of Denton, Texas
BONDS PAYABLE - ALL FUNDS
Year ended September 30, 1978
Original Percent
Issue Final amount Interest
date maturity of issue rates
GENERAL OBLIGATION DEBT ,y
1960 Street
Improvement 7-15-60 7-15-85 $ 600,000 3.50 to 3.35
1962 Street
Improvement 3-15-62 3-15-87 5005000 2.75 to 3.8
1963 General ),10 ~ 1;V ~ W! ;r^
Obligation 3-15-63 3-15-88 5009000 2.50 to 3,25
1964 General
Obligation 7-15-64 r7-15-82 800,000 3-W .to 3420
.1964 Park
i, IM
1966 Airport provement ;-15.64 715-82 200,000 3.00 to 34'0
Improvement
Warrtnts 12-01-66 12-01-81 113,500 4.50
1966 General
Obligation 1-15-66 1-15-86 1,0001000 3.30 to 5.00 `
.1967 General
Obligation 11.15-67 5-15-89 6000000 4.25
1968 General
Obligation P-01-68 2-01-88 1,000,000 4.00 to 5.00
1969 General
Obligation 4-15-69 4-15-89 11285,000 4.60 to 6.50
1970 General
Obligation 9-15-70 3-15-91 1,000,000 5.70 to 7.00
1974 Street
Improvement
Bonds 7-15-74 7-15-94 1,.500,000 5.25 to 7,25
1974 General
Obligation 7-15-75 7-15-94 9853000 5.25 to 7.25
1976 General
Obligation 4-15-76 7-15-96 2,500,000 4.50 to 6.50
1977 General
Obligation 6-01-77 6-01-97 39000,000 4.00 to 6.00
1978 Certificates
of Obligation 3-01-78 3-01-90 1250000 5.50
1978 Installment
bank note 7-01-78 6-10-81 43,276 5.50
A-80
Maturities in
Changes - year ended September 301978 year ending
October 1, September T, Se tember 30, 1979
1977 Issued, Retired 1978 _ Principal Interest
S 200,000. $ ; 25,000 S 115,000 $ 25,000 $ $,138
2009000 20,000 ' 180,x',1 20,000-c 59373
220,000: c1 f 'fn(j,: 20to00)•tt MOW 209006 Fato
ref
290,000' 65;ON,:',i r?229)000 609000 [oCF7',i43
709000 rl,r 10000 ' A60000 4
15,00~~ t C',405
49,000 - 10,000 39,000 100000 21,530
'3110,000 - 600000 480,000 60,(00 15,488
5134::12 VIA q37U
3110,000 - 30,000 3309000 30,000'303,41CU&
20110a i
$759000 ' . - SOOT . 525,000 50,000 0 21x,225
8050000 601000 ~ 745,000 60,000 117,495
100,000 SP,ow 650,000 50,000 er35,487
1,650,000 - 75,000 1,5759000 759000 vl89,087
8659000 - 551000 8109000 55,000 45,250
2,500,000 - 125,000 2,375,000 125,)00 1239750
39000,000 - - 3,000,000 1500000 154,700
125,000 - 125,030 - 10,313
43,236 3,342 39,9;14 ._13,833 1,_1,851
$ 12,0249000 S 168,276 $ 658,342 S 119533,934 $ 818.833 $ 517,400
A-81
..(ir ^u t r r',;c,: a s n.:d'}l i 4,,. Y. '.1 e , Y
r
3
City of Denton, Texas
BONDS PtYAB#.E - ALL FUNDS (CONTINUED)
Year ended September 30, 1978
j
Original Percent
Issue Final amount Interest
date maturity of issue rates
ELEC'iQ!C SYSTEM
REVENUE BONES
195; ; 11.01-54 11-01.84. $4,287,000 2.75 to 2,90
1955 5-01-55 11-01-85 1,350,000 2.75 to 2.90
1955-8 11*OIL55 li-0?,r89i, 11387,400 - 3.00 Gl?i',`
1961. 1.0141 11-61-Wi 592000000 3.75 to 5.50
1:00,1965 000, 04"0146 11 01-44A 4,000,000 5G``to 8100:c {
111168 2-01-68 11-01.88 19000,000 4.00 to 6.00
sI 4470 ;'}9;01 70 11-01'+95' 3,500,000 4,50 to 8i50.+:` S
1972 5-01-72 11-01-97" 6000,000 4.00 to 6.00
X'.1974 c 014,01).74 11-01*Wl 105009000 - 5.00 t0 ' .00,v~
1978 3.15-78 12-01-07 190255,000 4.60 to 5.85
WATER AND SEWER.
SYSTEM REVENUE' ^C
BONDS
1960 1,15-60 7-15.90;`. 19700,000 4.0 tm 4:25 s
1962 1-15-62 7-15-90 10000,000 3.00 to 3.45
1964 1-15-64 7-15«$4. 250,000 ?.00 to 3,40 1'.<
1966 1-15-65 7-15-86 110009000 3.30 to 4.50
1969 4.15-69 1-15.89: 1,060,000 4.00 to 6.50'..,
1972 9-15-72 7-15-93 10500,000 4.00 to 6.00
1974 7-15-74 7-15-98 2,000,000 5.60 to 6.50
;977 6.1577 7-13.92' 5001000 4.50 to 6. 55 I
i
A-B'
h t Yd. ,t1
i
I~
1
Maturites in
Changes - year ended September 30 1978 year ending
etc er 1, September September 30 1979
1971 1ssued Reid , 1978 r nc al- merest
14,
$ 1,560,000 $ - $ 1,560,000 $ - $ $ -
513,000 - 513,000 -
$63,000 - 5530000 -
4,110,040 ~e i>
104000: 1,4000000 - - -
6001004 , 6040000 - -
2l6601000, - 2,660400 -
500400b00 - 5,0409000 - -
1,450~000 - 1450,000 - -
19:,2552000._, t 2. 9, 55004 _ - 1 254 89
$ 179946,000 $ 1992559000 a 17,946.000 $ 19,255,000 $ $ 1/254,890",
$ 1,0750000 $ - $ 650000 $ 190100000 S 65,000 $ 40,400
590,000 - 359000 555,000 40,000 18,823
70,000 - 100000 60,000 109000 29010
450,000 - 50,000 400,000 50,000 139900
670,000 - 60,000 610,000 609000 30,910
1,330,000 - 6u,000 1021pi,000 65,000 64,500
129000000 75,000 198259000 75,000 1109425
500100 501,000 - 25,400
$ 695859000 $ - $ 355,000 $ 6,230,000 $ 3651000 $ 306,368
sowmwo~
A-83
r
y. STAYIS'TICAL DATA
tt~ . ,~,,r ~ li'~;' j.,,i'1 :emu; . F",ELI
MI
PS V) N~,~ i~ Mel
iii ~'1~Ltir.~~ ~OpWl
4hr1~,t.~. C~1'..fCs~E~=~ .i-
I XAT
Jog
'i , •,1° _ .r ~1': r l•,f r~,. .-ti~~ r_~i'Li±,. ~`"c't9C7h ?0
A,- xAl
,n
J~
I
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A-85
Jw ~~ob .,a r c H t . C 'W W.
City of Denton. Texas
r
ASSESSED VALUATION AND TAX ASSESSED
(Unaudited)
Year ended Assessed valuation
September Rea Persona
30 rc ert property lotai Tax assessed
1969 5521065,360 514034,931 $ 67,000,291 519005,004
1970 55,417,090 15,658,946 7100769036 1,066,141
1971 60,539,722 16,406,918 76,946,640 1,154,199
1912 66,230,863 16,9019390 83,1321253 1,4131248
1973 769671,409 18,..4,31.4 95,155,723 I,617,647
1975 541+►09 0677 22,275 2 713 560 102,222,840 1173o788
197 ga~ , ,049 112,158,76 10937. s698
,
1976 95 1350178 26,592,085 124,327,163 2,1fL M
9 136, 40,625 . toW 413
1977 98,863,846 3%67607
1978 213,135,760 58 203,469 271,339,229 3064,606
TAX RAPES
The constitutional and statutory tax rate limit, including debt serv-
ice, is $2.50 on each $100.00 of assessed valuation. For the year ended
September 30, 1978, the City of Denton's tax rate is $1.24 on each $100.00
of assessed valuation. The assessed valuation is 60% of true estimated value.
TAX DUE DATES AND PENALTIES
Taxes are due on October i and become delinquent on February 1. Taxes
may be paid in two installments, one-half by December 31 and the balance before
March 31. Penalties due on delinquent taxes accrue: February 2%, March 5%,
April 6%, and May 7%. Interest on delinquent t*_:es in addition to penalties
accrues at the rate of 112% per month. No discount is allowed for early pay-
ment.
A=s6
N n N
,
'1 ~ •~.k ,'1 , f a,,^k 4 ,.a~
Ci ty -6f , Den tore, ?Texas '
TAX ASSE$$MENT,AKk C%LECT1ONS
(UnaudlteO
i
i ?ercentage
Collect'on of of Levy
Year ended Total current year's coliected
eptember 30 assessment G.xes during Year durtna Year
1969 ;1,005,004 S 930,679 92.60
0, i'
1970 1,057,259 994,426o1F(r i
1911 se1,135,935 1,089047,-194091244
1,3490462•
1973 196139260 1,543,185 95.65
1974 1,731,452 s
1975 .1,900)006 1,813,816 tn~;7s~ ,a~'y A 6noJrr',')
2 107 819 2,402,428 75.
1977 20418;166 24302,758 95.23
e^C-10-1'a 1918 3x3341341 ~53,130,697, ribe. B1,9~3g~~3k~f gm~
Ira-•?Total tax,wjevycf1g4r9s are adjustag wr lect adjustments approvtd by
the C1t3 Co-incil.
',7ff-U~61 K~ vJI;5,bH
'i )r
I
A,87
7 .re iN C lye .,M[ T^ Xi I'
r
City':df,Dehton,`Yexaa'r
' ~ 1'N5UR7WCC tN FORCE ; ' ,
September 30, 1978
(Unaudited)
Expiration
IMaranceCompany Premium Policy no. Date
Allied Insurance Company $ 471752.33 SFC 26 40 46 1Q-01-79
American"j,nd'e"mnity Company,
309.00 BSC 2202862 ` 12-18.81
Jack McfaFling Insurance
Atiantic','Inf~rance Company s' ;
90 38 88
' n'r~ance Center ",f 20.00 12-31-79
Denton
p ~ L `t 5Is") x E,; p c 1 t 1
4..fF ry r iHV r :iht:'~. . -
Employer~iQCasualty Company 27,915.00 CGL-A-558475 Ol 01 79
N., cCAF-C'594478•0~,~~~1-01.79
k+44h'1 ;{~!b ~'it-1 i?t, k;G JJ!I'LS )780. ~~[t. d~i,i Ei .i12:
TMl - Texas Employers
Insurance Company 469687.80 TML-A-0103 07-01.30
Fidelity 3 Casualty Company
of New York - Denton
Insurance Center 10715.00 IM 13 32 40 11-01-81
Fidelity b Casualty Company
of New York - Denton
Insurance Center 754.00 P6 2 45 45 00 02-24-79
Fidelity L Casualty Company
of Nev York - Denton
Insurance Center 271.00 P, 2 45 44 95 01-23-81
Fidelity & Casualty Company
of New York - Denton
Insurance Center 20216.00 BNO 19918?6
The Hartford Steam Boiler 86,170.00 HN7!-14278-00 01-01-
AM
Amol.nt or
Coverage , "A110 t
.Fire and extended coverage on utility systems, 5 40sQO*g0?,;
buildings and contents, and newly Ecquired 90% coinsurance
buildings ands their contents
Robbery inside premises 19 1 OQQ
.,s.Robbery outside promises 1,600
F Diesel Fuel Bond k ,
tr:. r!
X, i
Public liability: General: QQ QQQQQ
gg6illy injury
Property damage
Automobiles
a ; .f Bodily injury l<< 1$$;$;:
Pr`oper+y damaga 3t, ~,;~IS• !t
Workman's Compensation
Utility accounts receivable - destruction
of records 2,400,000
I
Cworphestsive - discount glass policy Total loss
Comprehens',%e - discount glass poll:y library Total loss
Faithful performance bond: City Manager 1009000
Director of Finance 100,000
Assistant City Manager 100,000
Each Employee 21500
General boiler and machinery 10,0009000
A•89
TI n ,
City of Denton, Texas
INSURANCE IN FORCE (CONTINUED/
September 30, 1978
(Unaudited)
Insurance Compan-} Premium Expiration
ibl icy no; Date
Blue Cross Blue Shield $ 176.464.73 - ,
'10=01-78
St., 4y,1 Fire & Marine In. Mira rice Canpany - Denton
GSU~ance Center 50.00
400 CR8730 948-19 ~
Unitid States Fire Insurance
Company
441.00 SROO83015941 79
f`~d {jpsprpnce Company 500. Q4„ 03152 i , . 6-02-79
I4l;t~'~i Welter' I agency, Inc. 11100.00 ' ' '"rs( v !r, q
13213 5.02.79
Guar''antai't6t1bh'a1•;1r4Ur3nce
Canpany
775.00 CLA 0030348 2-02-79
)VI
A-90
:t
F
r
Amount or
overa a limit
Group Accident Sic%oess and Life covbrage
on all full-time employees
Faithful performance bond - tax Assessor Ir101000
Group Accident Sickness and Life coverage
on all Police Reserve
Ambulance - excess third party 2000000 b 1000000
rr
Ambulance - excess liability 500 000 N 1 000 0
0;000
3'&#S00{000
i 1 h~'r e '10) LOCI Xf,!
Ambulance - professional liability 1001900 S 3000000
t . C92;IA
A-91
Orl~ll~l~
City of Oenton, Texas
MISCELLANEOUS STATISTICAL DATA
September 30, 1978
(Unaudited)
STATISTICAL DATA
AS OF SEPTEMBER 30, 1973
;Area of City 33,2_tembsquaarre mi.le$6, ;
Date of Incorporatiol•I
To0A l City Employees Sel, ar-26, 1$6
(Including seasonal 4mployees)
.'7"-1 ^,'i C „-j..•}r , ~iil !'lit .1{+°f. ,a~h al(1'i",
1904
s~t4tad4!popgletfion 4.
$
`IIIf Tax rate - per $100 valuation 1.70
Asses5c;i valuaLS1d2,222,8 6
Electric production (kwh) $48,587,100
Water Production (1,000 gallons pumped) 2,490,026
Electric customers 13,023
linter customers 11,363
General Fund revenue S 4,48C1056
General Fund expenditures $ 4,219,859
A•92
. rl y w,,.. ♦ a '
j
976 1971 1978
439700 46,800 47,900 519500
1.70 1.70 1.78 1.24
S 112,158,726 S 124,321,163 S 136,540,625 S 271039,229
512,237,100 524441,400 491,115,600 322,693,080
2,6339943 2,6559657 3,000,770 3,069,238
13,28y 13,986 14,620 16,323
11,591 12,013 12,327 129787
S 4,9049169 $ 5,26909E $ 6,194457 $ 7,982,748
S 4,8049176 $ 5,580,719 $ 6,131,801 $ 117989055 1
A-93