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CITY OF DBN70N, nt
13ENEPAL OBUGA71ON BONDS
AFFUNDINq SUMMARY
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WunWd Pr' `&I
W" pos
UrIM '8 1814001000
8nrWe'88 2/0001000
swia4189 210001000
80" 187 00 2241000
rl 10100 180
0 12, 170,
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CITY OF DENTON,'TX
UTILITY SYS'rEM REVENUE BONDS
REFUNDING SUMMARY
i
T -Exem tRrfundin Mlnlmum 083 Bonds
T
ex Exrm "V
t
T,rxab
ndin Ft~rtundln r' 1} ~
2700 000 8Ik
048 000
Pri o al Refunded
2,18000 ItsS t } ~.:Cf`
SKI6,1 '83 6 7301000
"ll
Was '07 131910,000 Q 4v,
Serirr'88 1 760 000 p T`
Sales 9800,000 0
T- 4 440 6 30
r »^x.
r Pr'od 1 b8 180 0
w age '
Annual Sev' 118000 72 , <
GeoseSavJn 2147260
110_9,129 rz'jl ` z"~
PV a vln 14
18 70y 74249 ' ;
P
6.80% 12 7X . f,. uVkC I
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wryol DENrON, rEXAS MUNiclPAL nu&tnN0 / AEN7oN, TEXAS 76201 / 7ELEPHONE (817) 666.8001
011100 0l the City Managor
Tot Lloyd V. Harrell, City Manager
FROMt Catherine E, Tuck, Administrative Assistant 1
DATEt February 10, 1993
SU13JECTI 1986 Bond Issue History II
In anticipation of the capital Improvement Program, city s~
toff had
been preparing needs for a bond issue for some time before the 1986
bond issue went to the voters, staff had identified needs and had
a list of potential projects waiting for funding,
In 1985, the voters had approved a $10 million street bond election
to build approximately 14 1/2 miles of street and repair an
additional 20 miles of street, However, this did not meet all of
the street needs nor did it address any other city needs,
Blue Ribbon 021+ 0 r!g ,~Y1A_ory CQti~
in July 1986, the city council passed a resolution creating a
special citizen advisory committee to provide reoommendations on
implementing the City's five year capital improvement plan as
proposed by the Planning and zoning Commission. A committee of
fifty-one citizens was appointed in September with Hugh Ayer as the
leader of the group which came to be known as the Blue Ribbon
Citizens CIP Committee,
Five sup-committees were formed to study the five separate parts
of the CIP, x,he sub-committees were as follows and were chaired
by the following personst
Streets/Traffic Jack Miller
Drainage Bill Claiborne
Library/LaW Enforcement Court
/ toe Holland
Athletic Fields/Neighborhood and
b senior Citizens Center Kathy Orr 0
Animal Control Center/Fire station Bob Oorton
The sub-committees began with the city's five-year Capital
Improvement Plan, During three weeks of intensive study, each sub-
committee hold many meotingmt conducted fact gathering
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p
consultations, and made numerous field trips, The five sub-
committees not with citizens and city staff to determine the needs
in each of these areas, Final reports were drafted by each sub-
committee in early October, The reports were pared down slightly
and submitted to the full Blue Ribbon Committee on October. 13,
A report, of the proposed bond issue from the Blue Ribbon Committee
was presented to the city council on October 21, 1986, The process
that the committee used was explained as well as how the projects
were narrowed down and placed into each year of the five-year
program. Additionally, the blue Ribbon Committee suggested that
the a citizen committee be formed to ensure that the bonds are
spent according to the use approved by the voters, The bond issue
was also predicated on a no-tax increase promise to the voters,
The City council called a public hearing for October 28 on the CIP
proposal, on November 4, the city council passed a resolution
calling a bond election on December 13,
"ction Aotivitito
Beginning in October, a series of articles were submitted to the
Denton Record-Chronicle each week explaining different aspects of
the citizen committee, CYp process, and bond proposals, The City
Council, Blue Ribbon Cip members, and city staff contributed to
these articles.
The same Blue Ribbon C2P Committee became the election committee
and worked with volunteers on a publicity campaign, glue Ribbon
Committee members headed different task groups including a
speaker's bureau, fundraising, special interest group
representatives, media representative, public relations, letters
from Council Members, and open houses. A list of the
responsibilities of each of these task groups is attached,
A fact sheet and a slide show were prepared. A speaker's bureau
was organized and citizens spoke to service groups and a host of
other community and special interest groups. Each special interest
group was also assigned a citizen to meet with the group and ensure f
that information was provided. Special interest groups wore
subdivided into athletic groups, senior citizens and retirement
centers, Humane Society, Friends of the Library, Domino Club, I
ministers, Benefit League, and drainage homeowners, The special ffff
interest task group made sure that leaders of the interest groups
were informed, coordinated "get out the vote" drives, and sent a
post card campaign.
Another group of citizens worked on fundraising efforts, This
group finalized a budget and raised funds to accomplish the tasks + 0
outlined in the budget, The media representative coordlnated media
coverage and recruited individuals to write letters to the editor,
Media representatives were briefed on the bond proposal and the
publicity campaign, A press conference was held on November 17
explaining the availability of speakers, announcing the open
A
O
i
houses, and recruiting volunteers, The Public Relations group
developed calap,iign materials,
city Council Members also launched a latter writing campaign to
encourage individuals to vote yes for the bond proposal, The
council wrote personal letters to citizens from the list of voters
in the last election, Typing was coordinated for this effort, The
open house committee ensured publicity and coordination of two open
houses at each of the facilities targeted for expansion: the
Library, Police Station, and Animal Control center.
The bond olection was hold on Saturday, December 15, Approximately
2,100 citizono voted, The ballot had seven propositions and each
one passed,
Qitiall Kali=
Streets/Traffia 411
Drainage 411
Animal Control Center 211
Fire station 411
Athletic Fields/Neighborhood
and Senior Centers 21l
Library 211
Law Enforcement/Court 411
Dr, Ayer felt that. the eucoess of the i986 bona election was the
broad offering of propositions, 'there were itarrs on the election
that were important and beneficial to most every citizen in Denton)
Additionally, the Blue Ribbon Committee concentrated a large part
of its efforts on selling the proposals to spacifio interest
groups. That helped ensure that citizens would be out to vote for
at least the specific proposition of interest to them and would
hopefully vote on all the other issues as well Dr, Ayer also felt
strongly that the idea of a "watchdog" citizen committee gave
everyone Confidence that the bonds would be spent the way they were
outlinod in the proposals, The voters must be able to count on the
city to spend the funds for the projects approved by the citizens.
This is a summary of activities coordinated to ensure the passage
of the 1986 bond election, Attached please find copies of the
resolutions appointing the Blue Ribbon CTp Committee, the bond
proposals, questions and answers about the bond election task
force rosporsibilities, eieccion activities, and a timeline of
activities,
d please advise if x can providr, additional information.
Catneri~na No TUC.:
Administrative Assistant
♦.....~.1 ..~ra.,~W.. 1 _ V M sY •we~x u..L'...s' ♦ wa ice., . I
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-1507L
R E S O L U T 1 0 N
WHEREAS, in accordance with the City Charter of the City of
Donton, Texas, the Planning and Zoning Commission has submitted
a list of recommended capital Improvements to be undertaken in
tho next five years; and,
WHEREAS, implementation of the capital improvements plan is
an essential element of the goal of maintaining the quality of
life of the community by providing for the necessary
infrastructure, improvements and services to adequately serve
the community; and,
WHEREAS, the City Council has determined that it would be
advisable to create a Special Citizens Advisory Committee to
provide recommendations on the mannor of implemonting the
capital improvements plan;
NOW, THEREFORE, T11E COUNCIL OF THE CITY OF DENTON HEREBY
RESOLVES;
SECTION I
That a Special Citizens Advisory Committee shall be
appointed to make recommendations to the City Council on the
manner of implementing the City's five-year capital improvements
plan,
SECTION II.
That the Special Citizens Advisory Committee shall be
composed of such persons of the community as specified b the
Council and shall perform its functions in accordance with the
Intent of this resolution, as directed by the Council.
SECTION 111.
That thin resolution shall become effective Immediately upon
its passage and appro;•al,
PAS M AND APPROVER this the ~ day of July, 1986
eet OROR RO TER
C DENT , TEXAS
ATTEST
i
• Xid 71 O~ , S R T-
G it
CITY OF DENTON, TEXAS
APPROVED AS TO LHOAL FORMe
JOE D. MORRIS, ASSISTANT CITY ATTORNEY
b CITY OF DENTON, TEXAS
/ BYE
s
Ga
1577L
R B S 0 L U T 1 0 N
SECTION I,
In accordance with the Resolution of the City Council adopted
on the 15th day of July, 1986, the following Individuals are
hereby appointed to serve as members of the Special Citizens
Advisory Committee on Capital Improvements;
Karon Abernathy Elinor Hughes
Hugh Ayer (lave Krause
Geneva Berg Jo Luker
Homer Bly Darla McDade
Bill Brady Jack Miller
Derrell Bulls Allio Miller
Lucy Campbell Ralph Morrison
Mike Campbell Clovis Morrisson, Jr.
Bill Claiborne Bettye Myers
Jake Craven Kathy Orr
Bob Crouch Lisa Patterson
Bill Crouch Fred Patterson
Frank Davila William P. Phillips
Roberta Donsbach Harold Reed Jr,
George Edwards Larry Reynolds
John Bhlow Richard Salazar i
Hazel Frederick Joe Short {
Robbie Cober Chuck Smith
Bob Gorton Sue Smith
Helen Hailey Don Smith
Tom Harpool Benny Snider
John Harris Donna Trammoll
Lloyd Hindman Ed Wolski
Joe Holland Donald Wright
Ann Houston A. B. Wyatt
John Hughes
SECTION IT..
That it shall be the charge of said Committee to make recom-
mandations to the City Council on the manner of Implementing the
City's five-year capital improvements plan.
SECTION 111,
That this resolution shall become effective Immediately upon
its passage and approval
PASSED AND APPROVED this the 2nd day of September, 1986,
RAY SFIfTENS, MUOR
CITY F DENTON, TEXAS
ATTESTS
•
Q~S6,&, 1 L. 71,\,6
UOTTH ON TON,B, )TEXAS
C
• APPROVED AS TO LEGAL PORMI •
DEBRA ADAMI DRAYOVITCH, CITY ATTORNEY
CITY OF DENTON, TEXAS
BY i
1
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t City of Denton
F'!vo Yaar Capitol Imprnvomont Nrcyrern
M000,0m
$%Sm Oo
Absentee 11%000,l
Voting t61.w.00ti
Munlolpal Building 14.000,0oo
216 B, MoKlnney ~~50DA0°
Nov, 24-.Deo, 9 faooM
8 a.m.-6 p.m. taSooum
Monday through Friday tanaooao
01." o00
t Ilow" {
MOOD
{ 11i- 1-11
to-67 }067.66 vo-eir ".90 1600-41
Final Ybar -
Aouul)4*W '3 tx£ `JGjU90 ahlO --r £l, 'aeQ 3100
49b 'oN Ilwled
saxsl Iuoluoq
aidd
e8aisod'S'f1 IDZU 1tt>fal luolusq
Blbli N7f>fd 6suufHoW '8 9lZ
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Nil
TO THE CONCERN90CITIZENS OP OENTON: will INnp My WOOD doillNad lptnAll 616MOI Why $ipldddioNltleWtJbn+ I" Pop
The December 10 1986 band alaollon lot the pIU. No,tMpl.I Millon dollops pile funds fly* Vest prog+sm end a Pollan or There die preaaatlY two lot Ilion content In 0110001hvrlod
and I
pDAnd IIVO yea! Capital Improvement ptOglaR1 Is one of thewlhofk@dWrite Arnasold each root IhNtealbondr itllloola southwest ueR of Ilia UI4p. Ivy plnwlh No Occupied In IM
N11,
the II1081 crucial lepuoe lacing our community loday. We sold u6111 MI the "Il died 1. And And may till 11, " 11 l and llnpd IF Iaill corbel Voused h1 mom,
and ol Chhhhhh r 0 and OInN! IContend did bell, w/ k or and
have raaponded to lwonty-two quaailone the( nppool 10 Howwlllmyldlil U/01ed II1M Nlllr/pfd mlllf0n d011N PIOpNmIa GMI Itdtlen god bfire Jill , . Apprttal of lMnd Issue
will file* bA pnrllcuially Irnporlanl vilille fePlizing that ovory(iii 6DDfoudt I. $ y to band 1 rose[ Cdesf to tons odch $its o our
icon, no matter how big or small, ddse vas an answer, CUFfi , pgl 01 be CI!Y tow Idsyyol Le p1111100 Altoshams devolW tommurrly. Msnyol These uaeilona weroadtedbymombets
of toward Nllrlmint of Insider debt. The 2l.yminlan dolhrand llue Gqligen'e 61ua Rlbbnn Adr1901y Cam hod login structured do that There wl be no Intiom in this AmoumWhy W eatlln/lrvn
of the Sol I OeWq Carer nodNNgt
ins Cody Councilt Cl this tdfrll pvopnm An br raptured wJhabt 1 NI mndidC opinion's ^Ith rl Phil An on or JIMu~a to row end demand! ref $Pke nvllloo and planning
and Zoning Commission upon lm N iMI I the M mY10 muill pie NIOOAIendrlb Illef rbviow it ilia recommended program, 90v4ral pullin How How Oiln u wlI be be aura tender wlll
a toned lot lll Mllnd ed pooh <hN,IJAme room,AdanndalN room,> IlneelOn Ioloom,meNlnO
o ppNI of the PI tlrp/MJOn. EX,
herrings halo been hold and alter elghl nlonUls of In room, and ONUS Ire Pll W
Miller lafanhing and e1Udy, OUI gf0Up8 Un0nIm0Utly t he City Councll hall slloodY Adopted l lNoiubon lMl eateblltholI g9aetided of/l lpplI flrllnpnn0gav ~d/ ottlrlllN it
111 61ald60 be piorldod and
Ogres plat all seven propositions and each 811001110 pro• Iptlal clllten s monllo log rad,d Mlrnban at Ili! Glut nlbbon he local eomin0 Clue will DI O Owad IO "4 Via, the
IaCIIIIV
C111106't AdrllofY Cotiol l/e will lot eu Ionted 10 the bobd aClm/
!B~~Ct 19 naadod to help o l plObfnlns tire[ exist today. IheY ere moll l lmin/l MitilhaplollCll I hischitlin/99fouDwlllHmOn Who one Mao olhphe Held r.ep w/n0 ItMM$4rO t.
WA alb also quite pleased to Announce that the Cap l0 too elect Over the entire Illy of Inc program Ind a slelut and In lots
upon will be mod/ puallelr at reNt once a Yeer of more open II the D1nen nu wry limited stn' Poo W11116s,"et ]hie timl, melt lyldt
Impievonlanfprogram heeboon shrucloled80that hold, 46pall Will arefully wMwunIleroelnlN(I Ireip:MJrkh$Ot1-DIAlOnoleohNewer
dlllond Inoflalkk In the tax levy in required to fund the bpenee Iran $*law 10.0 troll rA.Or OthN teen of eomNWM//u/.
eltlifel plogfem, own'1$ rkMlry, 6w" A bald Wait bell ltNN11 thl/ and HIM wOutd Vendors ''par fuMN lO lyht lptl fl btus"I
wD1llfoelplllnNdlJlEw uWNUllaneydllnO+nNl~nnrtOftwlh
We hOpo you will study the facto carolull, and vote yet A le motion Joliet lu0101091ein *41 proved In 1164. Manyol annddl ~
onalsevonpfopoaillenaonDocomlmfl9. atbeaumppavemtmebArey»enm6eeendllroNOglmhCOnlinging aIIIWICIOLweMU,lmrorlAptld o: 1,IMd/VIb1J0HOWN0,0
ording to ltAlJuN , TaoeulHPehued dor=I411ielneiAnndd +Nf IIOCC/INAId6, lot which will
bincao IhanAa and applaalalton, ece NIP, I wmadtvelopedH N hh LNN P" two Ili gtnl aonan
I
IAIMMeooa6110 NIWI/INIANnw lMIYNdInIM HfNl/aM 4AIPk lald will be Improved lad lwol fleeces Hpltds Wtll be Clrllopad at
prepNnrohl OenII pNA. the" Improwmtlnle t Of know la the growth of tMN Vital
WoONmI.
f No. However, the Capital ImDreremenl thehip n inolldN funds 10
Ile sloflieng, lv'Meyrd mbulld 011111"Q sill ArIntooinillW Mllot@lon from MinponoW to
Y.. I U linnsny orbs. Map, it to fell that AM Avenue 1161Ifo will be PANIlly All NdnlAwltI find ,title to
IWIIM Pe waklik d M IM ~fdNdlnn A ,.r Hollered by tome pl the olh1r u1111o It povelMpl Otopola111n l ht bond WNn (Mo fir I, I INA
NMIIW reed WRI of,
NM I '
INus, lotudlnp ezlenllon of NOIUnOham prove and lmproremlnll to let a Pit 1011 1
Mingo hold. Vol, rvndl wee APDrOVId IN in 1 d«IOMI Ifllyloed in t the Firmly left I ll1 (pf litnll Chaff man Will the CI11 "I Me 10161 T 01
pod 1110 IWw Chad I/NrH HI In AA INOUnI IAd I To
allo 11 11M
t to y it l COn/Ul led In 6 Co A INlnl
GIII/e'9DIIleRibbonAdVls0lyCOmlllllle@ HeedfluehllCOOP7N,U.1,7/11FOr1'MhUMdM1,IMUS910luMrlh sludYhde/Mwni fwa iWllbnelnaderlWfrWlYwlih
Mtlonlllllnd/fd/lJWN Covef/pl/n AI NIran to sn,lnulea.
Htr CdlN7 this bold N/u/ WIII Dlen de lords x l akW Hslmmth I it tSWId also
1+t'~. r w No. Iha Us,k0,U,$ Orl and LMpp 2M Improvements can apaid lot In be built 1011 the two shy slat It part he skated IA IN Whippet
tuMlway lhtl el leaf U.00 off atll/al FldNel nlpAwey Final wills anm WU{µff Alate of IM Oily,
Hill f,lOlbolflo, Chnifloan apart "the Pfoie0l plotvlly+L00eonblbutedbylhe life DOMMA. ryf~
pnllfing Gild Zoning COminlnlDn HIw were IM lpkllr/dnMefta pfe{IOl1 Ne01eda SAN eA1/d WAli" eapsado lap=is IodNll~q 6M wet./Md M Nryi!yM
The chilnlpe prolNl/weig "rated based onlmmedW W heads And tM 1M nymblr of MIA11111hNINWr iM ElHaf hod mClNNd anM
BOND ELECTION lo mil imp/to on tM grNWH numbdr or itoon, tf. in pool, ell pia johnIpl ells%WI wrwulnng in ul of l.1Ml 1n1m11/ bilkind re,
QUESTIONS AND ANSWERS ~e Wauded rolMplapumpnm,eel<nDro tm$19iMcilm"IMdollI to d11 ophif in 0Pan W.
Whyy rip rod n/ad d l,w EnltrOtlMM aMWdCWr1 e0m01ee the adoil 1 Ns alAO ezpONd ~o a end IrNdaq u/l/ lMdV(IOn1
n What n atop proposed lM wMn7 PHICI IHpANma01 W11 mOW Info IM rlAbtatN ofd Cfly H6~ bglr111 OHM hell DNductwllY le Nrer11Y Inn at 1 rHUfl.
A on cecambel lr, 10116, ell rtpplllellJ vrofell In the Clly al olnton will Ilro Poled e/ Mfumenl mural Into the fanoratld old City N nbulkllny Why do sod raw fiNO xbidtfmmor
hot a tbdnca to daC It a whelMr 1 21. Y 416 In he CI Gf' 01 Ill Dta 111 In v)(12 83. i hNl WIf / EIIRE Al nlld to Killed Oval/ f111 and of llf l /e/L1
nwnl ploorun ahovid be Appmrod et FIJy is pONlblA. OendNJOAl have lmp10vfd, µw/re VII e11µ IM AMNkIn LIUr6N All0Cltlan llr TIron llWary AllOcWtloh held
M IpMA al ibe uN Clly Ha11 busdlnp If n0! unable 1101 had IM bulldlmy ddeeINmlMd had .t WUN! INI dl Ifu Try 10N1 I1 nodded M4 on.
WMI h a CIpIIN Impreremenl PHOgremi Lead will sal dedgned Id 4"eutimoobll some of ibis o0alneeds of l CW Ilbllfy hod MU equ/N INI if I thou On out populltio Ot apt
A CAPbsI b"MOrerc,ent papum I! a yysoup of proiecW IA/t will. It qn polka Department. Loch of IOkNt 611111 pmhlem lIe +iml0l ash euh G0roztmalel! spg06, A IOIAI 011 ,
aUlq dal v! s I n/edad.
Lured.onorpi uporld/d And Won lunttlrnemacllc imp will tf f6alend future needs Since lppl,IMnumalol OfMeda endloalolh Fuodlrol Je Jddllloral 0/queld'•tlMt will
Ilan a NHf abIllal
11 ennnei has InaOA/td from to to IW and Iber/ lfr piano to Add m0U of to t ytAU s babe fegWltsd It IPPI, td, IM M.OM Inquire fool total
wd Nfill/Ill, IN Ile llg"ely IIHe And IltOl@cVntlealnJ e¢ulplndna leof/IOAC/p itswllhoilpublle Nlll Ile/dl-1hlfew EnfWCImN1 w11111111 Pal 1oil nn of Hkomm/tided it,
WIlls.
nIdlAell A ttmallo Iold s, n lolrta l hour and Atnloo tinto"CA oil 0. an Y
k,014ga. did flroaW l O b11X W111 solve the ewtl m erOwdin ift foram end INn
ill hdowo prowth CaordlMR@n of IM It* lnfaumenl Ind munlnlpel will IM /f Hl N NpandM I MN ► brirlss Nln,y N 6wHN It
WM dal little which PA I IIOukf puf1016 Of 01ODNlllen/ Na 10 ba IM ludo coon hint l lent will aide be enhanced, the 1046 on=1,
Ad In the rare yetI capital improvement uroWsm N and Joint It la pea lmpOrWnt to eMPdei tµ Joel thankli MAJOT10011011h11 p1o At IhI111Mt, azpln non of the edNlnl IMIry
NW tM binth COMapI
all UnIMOS1.iheerbelf popkip FltllllY wlllMw been Neboil Ce0d 1d N1.Thlb/HenMdl/l mN11 w:IM In 4HpMM.
ter unrldecWlonhmaddby the Ctly Car mil. WA VldnnlhppenJ 20ning iodlwol AelI
Lgnve1100A IMP1411s file Ilse woo? CAp11a final "rem em planning plm fled sof a pl fled of llftyll l0 Yllrl afg laN vOns n111UC non begins on (his or the Grated is "t lepoduled
le bell yAll 1 I and 1M 11411
r set once a year UV foecomg and contldvolli heaJl vointisOI try In pro{/cl - ph1to P, flop itheduled Id begin vO1J/' eP dry, Iho CII Cdvnall M.
hddudluuutne, lhn ptueullruLUf., and lnfarealad grow Pt HtMosenlln ail what wlu MpOki to HN old city H/f bylNlnp HIM Polkaed d dtclded In tit It tilt{@r lot4It balhOr MIt
idlah l thn Clme, iAlawlll
m nrrghrnrrhadt, cummumlY urglmta Upnl, end IsusmafNA 11h16 l [E r rr'C L 1 od IIInw Ilrol ~e NlMpp hori gpruwlh ll aCEU, ld 11nlf d5ClHan Lena
rrn phi Cqy Cdpntll Wit lhal luolatlllflnln+blvamdld wAerlCldellAMl "WIII IIId1N 101 aw n/NamonICMII bull OmAef nlndelllaitorgulllidi# lhHry soh rWndf of the
llMlly, Add
ar,l sal sun Cl Wewt 01u 6 lbbboh Adyl I Div cemnoli/e wee 10 told lilt nehor'eong INtold Ole hall billoner poollnod And added llle lm a othat lnleletlW CllUen11nd/mupi
kiln obbar, comrn111te Clly Councll, slid Piano P9 and toning CM tNutblOabdhlEi000a11y 11 nl1knel dN l otlhl Clfyol ClnlOd that WIII
m,tVon All Agreed on Pun prnpo Hlrent Thal will be vUla,l on In rho hand Continue 10 be we" lot cloy PWp6Ne. Ina City 01 D06100 pie eAllrr
AP,n mn Yens hoo ldiy owned /pk/ 61 An OnnuAl coal ei SPOMNImll Hp AM WMN do I pe le VONI
plow All did capful lmplde/WNn l Draft is an be ll noticed l Iadllec@d/ln{allMlixpemks wlllenculla. Con I Potion of lhllnw At the Oily of Dlnlornnlp Cenet build! b lot lied
it apt E. MOxlpney,
snroAAmolt Cool lh'COril l COmplo l would A low Ci If Juno l lot ouch oo on Cecimboo 13, 1969. aIwNn 100Af1 And100Dd1.
11 Onto IhupofNNrn tit apM4+ed by rho rAlmA, gpnsut obligellonn Dale fhkNNn0lhfl toner INA alPplM MuLlNrubsc OCn1J6I1o
-
1-tie Ael b0 !old and lµ pmcWt al lilt land 611N will booted Io n»ro 1610 the old city will boil drug. MOrIAg Inn mue oloc court June.
f r A rte a o pfoads Ilidnlunlbi, Ilia [11114111 Nava been allied to top blame will irk ties up de/polNely )I ad Spite And PAAM9 At the WM can I edntut 11 1 MN a" gwlipl
blown tM box IIIad
lard bond WfueA Jot tapll6l nnproyonpoolt Aaul Apply 11Th tti yelps. Municipal eulldlnpH,la p,odep14P 11 In an!'Nllh the ItUBUu10 end mat IA villutnr the only
pleetto Feel the Clly Mlnlyyll'1 ONIII 1 W'S." N the bWnnmQ
rn1n, A e lselt 10 POOP DACO A 1l h put a In a au,erd/ ens bets opmenl aapa+lml Ill ll bsO S.lsi
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TASK MASTER RESPONSIBILITIES
A. Speaker's Bureau
'task Master Jack Miller
Assistant Task Master • Lisa Patterson
Staff Liaison - Betty McKean
1, Recruit lay speakers
2. Contact all clubs and get on programs
3. Inform lay speakers of obligations
4. Coordinate with Assistant City Manager Betty McKean
B, Fund Raising
'Cask Master. Keith Apppleton
Staff Liaison Lloyd Harrell
1. Work with Campoign,Chairman to finalize a budget
2. Raise the required funds
C. Special Interest Group Representatives
1, Meet with 'group and inform about the Issue
2, Encourage to vote for all issues
3, Insure group leaders contact members
4. Insure group org`anixes a "getout, vote" effort
5, Prepare post cards promoting ;he election
64 Special gtoups
a. Athletic Groups
Task Master - Mike Campbell
Staff Liaison Steve Brinkman
b, Senior Citizens, Retirement Centers, High Steppers
Task Master • Hazel Frederick
Staff Liaison - Steve Brinkman
no Humane Society
Task Master » Roberts Donsbach
Staff Liaison - Bill Angela
d, Friends of Library
Task Master - Georgia Caraway
Staff Liaison • Joella_Orr
e. Drainage Homeowners
Task Master von Smith
f, Domino Club
Task Master . Les Holland
Staff Liaison Steve Brinkman
b g, Ministers 46
Task Master - Bill Crouch
h. Benefit League
Task Master - Donna Trammell
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Task Master Responsibilities
Page 2
D. Media Representative'
Task Master - Bill Claiborne
Staff 'Liaison • Rick 5vehla
1. Brief media about the issue (Channel 2S, Denton Record
Chronicle, University Papers)
2. Coordinates coverage and appropriate, presentations
3, Recruit individuals to write "letters to editor" in
support of the isaue.
h. Public Relations Director
Task Master Joe Holland
Staff Liaison - Betty McKean
1. Develop a campaiggn slogan and committee name
2. Obtain approval from steering committee
3. Develop campaign material as required
P. Letters from Council Members
Task Master bob Gorton
Staff Liaison - Lloyd Harrell
1. Obtain personal letters and marked lists from Council
2. Arrange for private typing of all letters
3. Arrange for mailing of all letters by 12.8.86.
U, Open House
Task Master - Tom Harppool
Staff Liaison • kick 3vehla
1. Coordinate with Gity staff regarding arrangements.
2. Arrange publicity for event
3. Arrange for refreshments, etc.
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316OM/111087
~,~+.-+...~+.rl:~w.. L" • ♦rar rrws wLMat.rll : u R3.Yi. 1 I ~ 1 1 J I J )f :
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g.14'r1Q~••nLHCr1UN ACTIVITlbS
A. Prepare Fact Sheet
B. Prepare Slide Show (15 minutes) and script
C• Letter to all Hoards and Commission Members From the Mayor
with pact Sheet
U. Letter to all boards and commission Members from Hug;. Ayer
with Pact Sheer
Presentations to all Service Clubs and appropriate special
Interest groups
o Service Clubs o Chambor of Commerce
o Firefighters o Realtors
o Police o School Teachers (TSTA DCT)
o gar Association o black Community
o State School o Hispanic Community
o Dental Society o Benefit League
0 Nodical Society
F, Fund Raising
Special Interest Uroups (contact, inform, get out vote)
o Athletic Groups o Retirement Centers
o Senior Citizens o Doiatno Club
o Humane Society o Mirtsters
o Friends of the Library o High Stepppers (Senior
o' Drainage Homeowners Citizens bance Group)
H, Media • Record-Chronicle, University Press, CATV
I. Speakers bureau
r,
I Larson
2, Citypstaffs
• J, Letter from city council to friends
f;, Tours of Police, Library, and Animal Control
L. Letters to the bditor
3153M/111086
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1986 BOND ELECTION TIME TABLE
July is City Council passes resolution creating
a Special Citizens Advisory Committee to
implement Capital Improvement plan
September 2 Cityy Council appoints fifty-one member
aitizan uommittee
September 4 First Blue Ribbon CIP Committee meeting/
sub-committees appointed
September 4 30 Sub-committees collect faots, meet with
citizen groups, study needs
October 4 sub-oommittee"reports forwarded to Blue
Ribbon Committee Chairperson
October a sub-OOmmittee chairs and Blue Ribbon chair
reduce project list and finalize proposed
projects for each year
October 13 Full Blue Ribbon CIP Committee votes
unanimously to approve final CIP list
October 1S planning and zoning Commission unanimously
approves glue Ribbon CIP Committee report
of five year plan
October 21 City Council received the Blue Ribbon CIP
Committee report of five year plan
October 29 City Council held a public hearing on the
proposed CIP recommendations
November 4 City Council passed an ordinance calling
for a bond election on pecemk•nr i3
November 17 Press Conference held
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December 13 voters approved all seven propositions of
the bond election
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1985 Bond issue
Bond Proceods $10,000,000
"inCOINW 0don 542,591
lmevead 513,098
$2,981,939 ~
Ga4
Total Revenues $13,057,620
Tpttll f0i6b1
Funds Available r $3
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1986 Bond Election
Bond Proceeds
s1o,m,ooo
AAd In C*u&Lvdm sea l n J
'nlef" IM of" $1,776,941
rrsns* ftm pener~J Fund $42,OW
Mlar;eNa»eous 18,389
Total Revenues
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Funds Available $305,539
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FIRST S~oedhwedt C'0 1) 11 "A N Y
IN1'1SSTMEIN'I' IIANKI.W4
$00 FIRST C17Y CENTER
I7oo PACIFIC AVENUE
UALIu1y,'1'KXAH 75101
.MVNICIPAL 0LPAR(MCN1 0141 S5040D0
November 14, 1991
President and Board of Directors
City Of Denton
Industrial Development Authority
215 1:, McKinney
Denton, Texas 76201
Dear (lentlemen
You have advised us that you are giving consideration to the issuance of an amount not to
exceed $2,430,000 in Variable/Fixed Rate Demand Industrial Development Revenue Refunding
Bonds Series 1991 (the "Bonds") with the proceeds to beleaned `to Safety-Kleen Corp, ("Safety
Kleen" or the "Company") a Wisconsin corporation, We have bran further advised that the
Bonds will be used to refund a like amount of Industrial Revenue Bonds Series 1985 (SafoaKleen
Corp, Project) (the "Prloz Bonds"), The proceeds of the Nor Bonds were used to finance the
construction of a 15,000 square foot processing warehouse and a 41000, square foot lab and
office building located adjacent to the Company's facility at 1722 Cooper Creek Road, Denton,
Texas, The Company is to agree unconditionally to the full, complete and prompt performancA
of each and every; representation, covenant and agreement made with regard to the loan
including, as shall be necessary to enable the Trustee to make full and prompt payments when
due of. the principal of, premium, If any, and interest on all Bonds and all other amounts
required to be paid by the Trustee, We have been further advised that the Union Bank o£
Switzerland the Chicago, Illinois branch (the "Bank") Is issuing an Irrevocable letter of credit
for the benefit of the Trustee In an amount not to exceed the Initial principal amount' of the
bonds of $2,430,000 and an amount not to exceed the lesser of (l) $202,500 or (11) Interest on
the Bonds for 200 days,
You have requested that we undertake a review and analysis of Safety-Kleen and the proposed
transactlon and provide you with our opinion of the financial condition of the Company as
relating to this proposed loan, We are pleased to comply with this request,
The Bonds will Initially bear interest at a floating rate from the closing date to the earlier of their
redemption, the following conversion date, or their maturity date which will be determined prior
to the offering of the bonds, It is the Intention to extend the orginal maturity date established
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V1 HST 00"MU&ew ooarrA t
In the Prior Bonds, The floating rate shall be established by the Remarketing Agent which will r
represent the lesser of 15% or the lowest rate which will permit the Bonds to be sold at par,
The , Company may at any conversion date, upon proper notice, change the method of E
determining the interest rate on the Bonds from a floating rate to an adjustable rate or a fixed
rate as determined by the Remarketing Agent, The Bonds are subject to redemption during the
floating rate period, adjustable rate period and the fixed rate period, The Bonds are subject to
mandatory redemption,
}nor the l+urpose of the review and analysis, we have examined audited financial statements of
the Company for the years ended December 30, 1989, and December 29, `1990, and the
unaudited norm lA Q for theihirty-six week porlod ended September 7, 1991, as filed with the
Securities and gxchange Commission' While we have no reason to believe otherwise, we have
relied upon the Information available to factual and accurate and containing no omissions or
misstatements of any material fact, We have not visited the Facilities nor have we Interviewed
the management of the Company,
The opinion expressed herein is based on the financial position of the Company at September
7, 1991, and upon financial, economic and other indicators as they exist at this time, You are
aware, of course, that the Company, like any other business, Is subject to Innumerable factors
that could adversely affect Its business, prospects and fnancial condition, and that there is no
way of predicting with any certainty whether the Company, or any other business, will be able
to perform Its obligations In the future, This opinion Is solely for the use of (the Issuing entity)
and Is not to be relied upon by any other person, Including, without limitation, any purchaser
of the bonds. This opinion may not be distributed or otherwise transmitted to any other person,
other than (the issuing agency's) staff and representatives, without the prior written consent of
the First Southwest Company,
Some of the m~Idr factors we have considered In our anal;-sus are %t out below,
I, Safety-Kicen was formed in 1963 under the name of Olson Corporation for the purpose
of providing automotive and mechanical parts, cleaners to customers in vehicular,
Industrial and related markets, In 19611 the name of the Company was changed to Safety-
Kleen Corp, In addition to parts cleaners, SafetyKleen also provides grease fllters,
cleaning equipment and other supplies to restaurants, and supplies materials and services
to the automotive palm and body repair market, 71ie Company Is also Invoived in
reclaiming waste solvent streams from large Industrial users as well as reclaiming waste
• streams from dry cleaning businesses, Safety-Kleen operates from 235 branches
throughout the United States, United Kingdom and Canada, and has licensed operations
in New Zealand, Australia, West Germany and Puerto Rico. The Company has no
subsidiaries or affiliates,
The project is the refinancing of the debt relating to a 13,000 square foot processing
warehouse and a 4,000 square foot laboratory and office • building located adjacent to
the ♦ o
currant facility owned by the Company at 1722 Cooper Creek Road, Denton, Texas,
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The Project enables Safety-Meen to provide the capacity to process the wastes brought
In to the recycling center from dry cleaning operations,
2, The Company Is organlze bround three broad catcgorles; Small Quantity Generator,
("SOLI") Resource Recov X Services; Prtvlrosystems and Oil Recovery Services, The
Company had annual revenues of $589 million during the fiscal year 1990 and net
Ircome of $55,2 million during the same year,
3. At September 7, 1941, the Company reported total assets of $860 million, At this time
the Company's current ratio was 1,5:1; Its long term debt to equity ratio was It2; and
the ratio of its net income to its Interest expenses was over 4 to 1,-
4. During the thirty-six weeks ended September 7, 1991, the Company reported net Income
of $37 million on total revenues of $472 million.
5, The Company has outstanding an Issue of unsecured debt that Is rated "Baal" by
Moody's, This Is an Investment grade rating,
6 The Hank, headquartered In Zurich, Switzerland, is the lead banking subsidiary of
UBS Bank, (the "Parent Company"), a multi-bank holding company also headquartered
in Zurich and wholly owned by UBS Group, The UBS Group operates branches,
subsidiaries, and affiliates worldwide,
At December 31, 1990 the Parent Company lotal assets of 187 billion Swiss Francs
(111"), total deposits of 109 billion Sp, loans of 112 billion SP and equity capital of 13
billion SP, December 31, 1990 equity capital, as a percentage of total assets, amounted
to 6,99% and amounted to 12% of total deposits, During the 12 months ended
December 31, 1990, the Parent Company earned 780 million SP, As of the date hereof,
the outstanding, publicly traded debt of UHS` Group was rated "Aaa" by Moody's
Investors Service and "AAA" by Standard and'Poors,
7. The 1.elter of Credit Is subject to the terms and conditions of the Letter of Credit
Agreement, dated December i, 1991 by and among the Company, 'the Bank and the
Trustee and Is to be outstanding from issuance of the Bonds for a period of five years
with the expiration day to be determined at prior or to Issuance, The original Letter of
Credit Is replaceable by an alternate Irrevocable letter of credit Issued by a commercial
bank or banks whereby the Issuer of the alternate letter of credit has an equivalent or
higher rating than that of the Bank, The terms of the alternate letter of credit shall it
all materlal respects be the same as those of the current Letter of Credit, Similar
restrictions are placed upon alternate letters of credit which may to be used In the case
that the Company elects to convert the Bonds to a fixed interest rate,
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Therefore, It is our opinion, based on the foregoing review and analysis, that Safety-K1een
possess the finanoW resources and integrity to assure that the proposed loan, including interest
thereon, will be paid as principal and Interest payments become due, It Is our recommendation
that the City of Denton Industrial Development Authority proceed with the issuance of the
Bonds,
Suety,
Richard Litton
President
RL:ds
cc: I.surence M, Rudnick, Treasurer
Safety-Moen Corp,
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PACT SHEET
Safety-Kleen Corp,
1. Proecti The "Project" It, the conbtructlon of a 15,000 square loot processing
warehouse and a 4,000 square foot lab and office bullding to be located adjacent to
'
the Usor's current owned facliity at 1722 Cooper Creek Road) Denton, Texas. The
project will be an expansion to the Users current solvent recycling center and will
provide the capacity to process the wastes brought Into the recycle center from the
ser's Dry Cloaning Program, The facility will serve the User's branches and
customers throughout the mid southern section of the, United States, The User's
customers Include small parts manufacturers, automobile garages and dry cloHng
businesses, The project will allow the User to service dry cleaners throughout the
Southwest part of the United States,
The purchase of two dryers, material handling and processing equipment will enable
the lfroject to receive and process the spent solvent and material from the Industrial
sector and the dry cleaning Industry, in addition, tho purchase of throe tanks and
related equipment, mechanlcal and electrical Installation and general site
Improvements will also be Included In the Project,
2. Users The "User", Safety-Wean Corp„ Is a Wibconsln corporation originally formed
In3anuary, 1963 under the namo of Olson Corporation for the purpose of providing
automotive and mechanical parts cleaners to customers In vehicular, lndustriil and
related markets, In 1967 the name was changed to Safety-Meen Corp, and In 1963
the company was purchased by Chicago Rawhide Manufacturing Company and began
g roviding parts cleaner services, The User was spun off from Its parent in 1974 and
as been providing the same services for the past 20 years, In four newer, service
areas, the User provides grease flltera, cleaning equipment and other supplies to
restaurantsi supplies materials and sarvl<-c> to the automotive paint and body repair
market; reclaims waste solvent btrca t~. 'n)m large Industrial ubersl and reclaGns
waste streams from dry cleaners, Tht operates out of an International network
of 233 branches throughout the United States, United Kingdom and Canada and has
licensed operatlons In Australia, New Zealand, West Germany and Puerto Rico, The
User has no subbldiarles or affiliates,
3, Job Creatlonss The estimated number of new jobs to be created as a result of the
Project s l with an estimated annual payroll of $180,000, These new jobs will
consist of material handlers, machine operators and techlclans, warehousemen and
chemists,
As of November 1991, 13 jobs have been created with an annual payroll of $273,000,
The jobs consist of an office person, 8 operators In the dry cleaning recycling
• operation and 4 in the laboratory area,
4. Amounts $2,700,000,
3. Estimated Total Project Cobtsr
Land Improvements $ 217,000
Buildings 748)000
Machinery do Equipment,
• including Tank parm 1,496SS9
Engineering Flees 109 000
Issuance Costs 97,000
Interest During Construction 79955
Total Project costs 2,743i314
The balance of ilia Project will be paid by the User,
y. / ww r..rW.M. rfi14i1';1 i~ .ovs-•.q ~ f cf i.~, , tJ(fllj tl,lj i.
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interest Rate: Interest will be calculated at the lesser of (1) 13% or (it) 61.5% of the
r me ate of plrbt Union National hank, as announced from time to time,
Principal will be payable .emlannually beginning approxlmately 66 months after
closing. Interest will be payable quarterly beginning approximately 90 days after
closing,
7. Purchaser, Trustee k Ma-I- Aaenti First Union Natlonal Funk, Charlotte, North
Garollna,
3, The estimated dates of commencement and completion of the Project are at,
followhi 1
Cbmmnncementt September 1985
Completloni May 1986 j
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cl rr of DENrONf, rEXAS MUNICIPAL BUILDING / DENTON, TEXAS 76201 / TELEPHONE (817) 566,8200
MBMURANLUM
DATE; September lie 1991
TOi Lloyd V. Darrell, City Manager
PROMI Jerry Clark, Director Engineering and Transportation
SUBJECTt PROPOSED STREET BOND ISSUE - DECEMBER, 1991
There are three functional areas to be discussed to provide adequate backup
for the Council to determine if a street. bond is necessary, Pirate the rtatus
of street projects In the 1905 and 1986 Bond Issues, Second, the
oftoetlveness of our maintenance and construction activities in the
Engineering and Transportation Department, Third, the proposed list of
improvements that can be funded considering financial obligations and revenue
projections.
Our two major street bond issues' are coming to their terminus. The ten
million dollar street bond issue from 1985 1s complete. The $9001000 of
remaining funds are to be udod as the Cityra contribution required for the
State Department of Highways and Public Transportation (SDHP?') project on
U, 8, 77. The limits of that project are from U, S, 380 to I-35 near the
truck stops (Union 76 and Border Cowboy), The 1986 CiP bond issue will have
all street projects complete` or under contract by December, 1991. Estimated
bid letting for Nottingham is late October, 1991 with design estimated nt'80%
complete now,
The following is a list of streets that were completed, The total project
4 cost is listed with the date of complotiont
TERMS P 6 D u Paving and Drainage - SW n Sidewalk
1) Completed Bond projects
I COMPLETION DATE TOTAL COST
Prairie St, Paving 06-2788 $ 49,446
b cutler Repave 00-00-85 3880991 r
Panhandle Drainage 00-16-85 7671616
Stanley/Thomas Drainage 01-24-06 566,976
Woodrow/Spencer Tie in Paving 01-31-86 92,580
Jagoe Public Recycle 12-Ou-86 *703,647
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page 2
COMPLETION DATE TOTAL COST
Loop 288/380 Signal 02-00-07
Stuart/Porahing Paving & brain 02-1387 4 19x024
Repave Eaglep Withers, Bolivar 54J,523
WelOh-Mulberry to Hickory P & D 0600-67 "122,390
Hickory-Carroll to cedar P & p 06-30-87 210,753
Highway 380/Old North Rd Signal 06-30-87 Included above
Locust P & D 00-00-87 24,664
Glenwood P & 1) 08-24-87 467004
Ye110wetone/Pralrie Dr 11-17-87 354,161
Lillian Miller Pay & Dr 11-17-87 710,460
Rf Turn Lanus LOOP 268/2-35 12-00-87 368,194
Evers Pk 6 Hercules sw 12-00-87 78,315
Repave square 12-D1-87 31023
Lower Pecan Ck Drainage 01-00-88 X700247
Carroll/Eagle R T Lanes 01-24-88 110,07800
Avenue C P & D 02-00-88 87,603
Morse Street-MLit Widening 03 15-80 420,476
Shorman/windeor Signal 03-00-BS 101910
Congress - Carroll to BIm p & D 08-00-80 44,094
Woodrow Box Culvert 08-05-88 100,743 p
Repave Square 2 08-19-88 66,369
Colorado Blvd R Turn Ln 12-00-88 8700297 t
Closed Loop - Carroll & US 300 12-02-88 19,036
01-00-89 *243,000 y
Taylor Pk Drainage O1°1$-09
Teasley Lu 11 & D 01-10 89 200,850
Teasley Turn Lanes 111-18-89 370,100
Carroll/Mulberry signal 03-00-89 78,797
48,811
In House involvement
WOadrow/Burning Tree
Woodrow Bridge December, 1989
Woodrow Paving and Drainage $ 376,077
Woodrow Sidewalk 017,404
Burning Tree nrldgo 41000
Burning Tree Drainage 168,9e8
Magnolia/Bolivar 660332
Paving and Drainage September, 1989
Traffic Study Square July, bori 603,369
Audra, Acme, Davis I, & D March, 1990 0x000
Malone St, Drainage 3461110
Malone St. Concrete March, 1990 499,596
Donnie Broo Paving and Drainage JAine1 2t 1990 131179
Carroll/Pearl Median Y, 1990 11522,152
Carroll/Prairie 1t September, 1989 2,697
Morse street - right t turn-lane e a Soptembor, 1989 3 7,458
P&n April, 1990 00
Avenue A and Avenue E D
August 8
oak, Hickory, pry p & U Au ' 1990 410,654
9 February 1, 1991 1,182,877 f •
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Inlets - Elm and Locust 0g 70y000
Master Drainage Plan December 1990 3180000
Niokory Creek Master Plan December, 1989 107,000
Drainage Regulations 4 Design Manual March, 1990 250000
sell Avenue Drainage August 1990 5,000
Dell Avenue (Vine/Mingo) Drainage July, 1991 3301247
1990 CIP Sidewalks August, 1990 1050793
(Teasley, Carroll, Stuart)
McKinney/8011' Intersection hay 300 1991 67,007
Mingo Road Drainage August 1991 2401484
Carroll @ University Turn Lane August 1991 12,087
Scripture Paving and Drainage July 1991 341,000
West Oak Paving and Drainage July 1991 341,987
Willowsprings Drainage August 1991 463,426
PROJECTS UNDER DHVELOPMBNT
CONST START FUND
* Pt, Worth Drive Paving SDH d PT Review 1,0001000
and Drainage Austin - Oct 1, 1992
James Street Drainage October 1992 900000
" Loma Del Rey Drainage 1991 900,000
Oriole Paving and Sidewalk December 1991 139,OOu
* Longridgo Drainage January 1992 300,000
Nottingham
* a) Paving, Urainar,e December 1991 300,000
b) Signal at 380 December 1991 25,000
- c) Sidewalk December 1991 20,400
Stuart, Sunnydale Drainage October, 1992 350,000
* Teasley Lane Access August, 1992 40,000
* SDH b PT coordination
2) Maintenance Program Projects Completed
The second key component iu the effectiveness of a street program is the
streets that have been improved using maintenance funds, The first
category is reconstruction. Streets in this category are either built from
scratch or rebuilt from an old grovel county road (Masch Branch Road),
They are reconstructed using our SOMAO to grind the road base up. The base
is then stabilized using lime, cement, or ENS hardener,
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The second category to repaving4 This method reshapes the streat,
rejuvenates the old pavement, and places an overlay to provide a smooth
riding surface. Thin method cannot correct base failures but it does seal
and correct cracks, ruts, and other lass detrimental effects@
The following list shows the limits of our maintenanou and ooustruction • +
• aetivlties by street patching and construction orews since 1985,
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COMPLETED STREET DEPAlITMENT AND MAINTENANCE PROJECTS.
HEATER OVERLAY
Foot 1 of
Street Length elks From To Ln Miles
Airport Entrance
Airport Pk Lot
Animal Control I overlay
Austin 390 I 1,3 Hann Marshall 42
Austin 1060, 1 3.5 McKinney Mulberry 16
Avenue A 1075 1 316 Kaglo maple 46
Avenue C 1050 1 305 Lindsey Greenlee 16
Avenue C 450 1 1.5 Greenlee 135 service Rd 13
Avenue D 1550 1 5.2 Highland I-35 142
Barber 250 I ,8 Frame Railroad Ave 41
Bell 6320 ! 2140 McKinney Sherman 4.8
Bellmead 850 I 2.8 Thomas Emery p
Bernard 1600. I 5.3 Eagle Greenlee 142
Bernard 350 I 1.2 Willowwood 1-35 03
Bob-O-Link 1390 1 4#6 Mockingbird Cardinal ,g
Bolivar 4550 I 15,2 Parkway University 2.6
Ronnie area 2250 I 7,5 135 Oak 1.7
Donnie Brae 500 I 1,7 South Curve West scripture .4
Bonnie Brae 2125 1 7,0 Riney Road Ilie;hway US 77 18
Bowling Green 500 1 1,7 Parkaide Tulane .3
Briarcliff 500 1 1.1 Tomlee Brighton 13
Brighton Cr 200 1 .7 Off Brighton Dr ,1
Brighton Dr. 590 1 2,0 Briarcliff Tomlee 13
Brigltwood 610 1 2.0 Wileonwood Longfellow .3
Bristol 110 1 2,4 Dead Cnd Windsor 14
Broadway 1900 f 4,75 Fulton Malone ill
Brookhollow 950 1 3.2 Groenway Brooklake 15
Brown 450 1 1,5 Dead end, Woodland .3
Burning Tree 2300 1 7.7 Old Lee Ch Windsor 113
Campbell 1600 I 5,3 McKinney Paisley, ,g
Cardinal 000 1 2.7 Dead End Oriole` 16
Cardinal 1800 1 6,0 oriole McKinney 1,4
Cedar 1050 1 3,5 McKinney Mulberry 16
Charles 420 1 1,4 Campbell Mulkey Ln 12
Churchill 1606 1 5,3 Nottingham Windsor 19
Collier 1160 1 3,9 Eagle 1-35 ,7
Colorado Blvd 250 I .8 Curve rework 11
Congress 4390 I 14.6 Oakland ponder 245
Cook 450 I 1.5 Robertson Wye ,3
Cordell 1900 I 6,3 Malone Eptor 1.1
Crawford 1150 I 368 McKinney mulberry .7
Crawford 420 3,1 Texas Paisley 45
Crescent 2025 I 6,8 Fulton Malone
1,1
Crow 400 I 1,3 Malone Uobsr .2
Croydon 750 I 2,5 Hanover Windsor ,4
Dunes 1050 1 315 Windsor Kings low ~6
I
Sub-Total 56,185 I 185.65 34,4
1) 1 Of blook'a based on 300' per block
2) Lane miles Include parking and travel Lanes a) 2 parking Lane 1 Lane
r
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Lloyd V. Harrell/Proposed St Bond Issue
Page 5
Feet t of
Street Length Blku From To Ln Milos
Eagle 7090 1 23,6 Bell Avenue D 5,4
Eagle 600 1 2.0 Avenue E I-35 ,5
Ector 975 1 3.3 Emory 'Crescent .7
Eden 100 1 ,3 Dead End Edinburg ,1
Elm 300 1 1,0 McKinney Mulberry .2
Emerson 5625 1 18.8 Wilsonwood Old North Road 3.2
Emery 1750 1 5,8 Botor Bonnie brae 110
First 350 I 1,2 Bolivar Elm 2
Pouts 1000 I ,3 -Oak Hickory 66 I
Foxcroft 1000 1 .3 Old North Northoreet .6 y
Foxcroft 2675 1 868 Emerson Old North Road 1,5 I
Frame 400 1 1.3 Hwy 360 woodland .2 h
Frame- 1700 1 50 Mcxinaey Mingo 110
Fulton 4980 1 46,6 University Oak 3.8
Georgetown 3500 1 11,7 University Bowling careen 2.0
Glenwood 1400 1 4.7 University Mletywood -48
Glenwood 900 1 310 Clovor Windsor .5
Gober 1025 I 3,4 Cordell Linden .6
Goodson way 795 I 2,7 bend End Bonnie Dram ,3
Greenwood 4250 1 14,2 Sherman Redwood 2,4
Hann 650 1 2.2 Oakland Locust .4
Hanover 1200 1 4.0 Windsor Emerson 7 I
Hickory 4450 1 14.8 Donnie Brae Fry 245
Hickory 1800 1 6.0 Bell Cedar 104
Highway 77 by TI 300 1 1,0 Turn lanes .1
Hill 1300 1 40 Mill Smith .7
Hillorest 3275 1 10,9 Scripture Emery- 2.5
Hobson Ln 5750 1 19,2 Teasley Country: Club Rd 2,2
Hollyhill 3815 1 12.9 Ridgooreet Tennyson 2,2
Hummingbird 1250 1 4,2 Mockingbird Cardinal .7
100? 925 1 3.1 Eagle Dr 11 ighland ,5
Jagoo 290 1 1,0 Scripture Malone .2
Jannie 1500 1 5.0 McKinney Paisley ,6
Johnson 600 1 2,U Wye Dallas Ur 12
Kent 300 1 1,0 Frame Railroad Ave 01
Kingston Trace 1280 1 443 Dunes Cooper Branch West ,7
Kingston Trace Cr 350 I 1,2 Doan 'end off Dunes ,2
Lakay 1425 1 4,8 Notes prairie
Locust 140 I 5 Mulberry - Walnut 1
Locust 1080 3,6 McKinney Mulberry 8
Locust 375 1 1,2 Sherman University ,2
• Longfellow 5$0 1 1,8 Emerson Windsor
Magnolia 1890 1 6,3 Mesquite Bolivar 1,1
Malone 3850 1 12.8 Scripture University 219
Maple 1175 1 3,9 Welch Avenue B *7
McCormick 1960 1 6.5 : Parvin Willowwood 11
McKinney 1780 1 5,9 Jaino_ Bradshaw 1.3
Miller 320 I 1,1 Oak Hickory 12
• Mingo 1650 1 5.5 Sell Tetras 08 t ~
Mockingbird 675 1 2,3 McKinney Oriole 05
Morse 700 1 2,3 Woodrow Baldwin 45
1
Sub-Total 67,080 I 284,3 52.60
• d '
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41oyd V, Bartell/Proposed 8t Bond Issue
Page 6
Foot 4 of
St:eot 2±-Uth Bike From To Ln Hiles '
N01e 350 1 1,2 Jannio Woodford ,2
Nottingham 368U 1 12.3 univeratty Windsor 2,8
Oik 2690 1 9,0 Bell Carroll its
Oak 1775 I 5,9 Mounts Pry 110
Oriole 1275 1 _4.2 Mockingbird Cardinal ,7
Orr 700 1 2,3 Locust Bolivar 13
Paisley 3250 1 10.8 prams Woodford 1.8
Pecan 700 f 2,3 Codar Austin
Pembrooke 2950 1 9.8 Lynhurst Fairfax 107
Pertain 600 1 2.0 Mingo Lattimore ,2
Railroad Avenue 650 I 2.2 Kent Dead End .2
Regal 1525 1 5.1 Brighton State School Rd .S
Roberts 1900 I 6,3 Bell Northwood 1.1
Robinwood 3025 ! 10.1 Emerson University 1,7
Rockwood 1120 1 3.7 Mietywood Emerson ,g
Sandpiper 1600 1 5,3 Teasley Pennsylvania 49
Savannah 1850 1 6,2 Longridge Teasley I.1
Scripture 1500 I 5.0 Ponder Joyce 18
Scripture W 2480 I 8.3 Bonnie Brae 135 1,4
Shady Oaks 3500 1 11.7 Woodrow Willow Springs 2,7
Skylark 1725 1 568 Pennsylvania Sandpiper 1,0
Smith 680 2.3 Duncan Hill ,4
Smith 650 1 2,2 Hill Dallas Dr 4
Solar way 900 I 1.0 Dead End Bonnio Brae ,3
Spencer 2690 1 9.o I,oop 288 MayhM Rd 1.0
Stanley 2250 1 7,5 Binary Panhandle 113
Stella Street 1850 1 6.2 Avenue E Bonnie Brae 101
Sun Valley 810 1 2.7 Dead End Stuart 15
Sunnydale 1090 1 3,6 Bunvalley Kings Row 16
Ta',iaferro 325 1 1,1 Bolivar Elm ,2
Teasley Ln 300 f 1,0 Turn lane 300' west 1
Thomas 3250 1 1018 Scripture Emery l.6
Thunderbird 1290 1 40 135 New mot Ito
Tomlee 725 f 2,4 Brighton Regal 4
Tyler , 700 I 2.3 Boyd Mozingo 14
Uland 226 I .8 Frame Railroad Ave 41
Valley View 1080 J 3,6 Sunvalley Kings How 6
Walnut 650 I 2.3 Cedar Austin 14
• Wayne 875 I 249 Mozingo Portaine g
Welch 4150 1 1348 oak Collins 2,4
Westwood 1950 1 645 Parvin Willowwood 1.I
Willow springs 800 1 2,7 Dallas or Shady Oaks 6
Willow Springs or 200 1 .7 Duncan Dallas or 411
Wilshire 550 1 1#8 Avenue 'C Avenue D 3
Wilson 960 1 3,2 Bushey Lakey 15
Wilsonwood 120u f 4.0 Sherman Windnor s7 •
Windnor 2275 1 7.6 Bonnie Brae Parkslds 9
I
Sub-Total 73010 1 237.8 40,70
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Lloyd V. Ilarrell/Proposed St Bond Issue
Page 7
Feet 4 of
Street Length Blkn From To LA Mlles
Windsor 1400 I 4.7 Sherman Bristol ,8
Windsor 1880 I 12.9 Locust Sherman 209
Withers 1425 1 40 Oakland Mingo 48
woodbrook 940 1 3.1 Longridge Pennsylvania 5
Woodford 1080 1 346 Campbell paisley 06
Woodford Ct 160 1 5 Off Woodford 41
Woodland 1540 1 511 Bell Cherrywood .9 i
Wye 1325 I 4,4 Cook Johnson 48
Yollowntone 2460 1 8,2 Monterey sun Valley 1.4
1
Sub-Total 14,210 I 47,2 8.8
TOTAL 230 785 1 754,95 15605
COMPLETED 8THOST DEPARTMENT PROJECTS
SEAL COAT
Neat I of
Street Length elks Prom To Ln Miles
Airport Hangar Fox 51 I Airport Rd Dead End
Airport Hangar Pox 54 Airport Rd Dead End
Airport Rd 3925 1 13,0 Airport Entrance Tom Cole 1,5
Alice 3890 1 13.8 Congress University 2.2
Angelina Bend 1950 1 6.5 San Gabriel San Gabriel 1.1
Bonnie Brae 3300 1 11,3 BMart. Windsor 113
Boyd 1720 1 5.7 Mingo` University 1,0
Bridges 2050 1- 6,8 Spencer Rd, North 48
Chaoewood 625 1 2.1 pembeooke woodbrook 44
Cherok0o 380 1 1,3 Boyd Shawnee 12
Chootaw 400 1 1.3 7001 W of Boyd Shawnee 12
Cindy'Ln 2890 1 9.6 Hampton Highway 380 1,1
Corbin Rd 3950 1 13,2 Airport Rd Underwood 1.5
Creek 700 1 2,3 7001 W of Boyd Boyd 4
Creek 1050 1 345 Redwood Navajo 16
Daugherty 750 1 2,5 Johnson $ Locust ,4
Davis 1400 '1 3,3 Rose Ruddell 6
Potor 3750 1 1245 University Soriptura 218
Fairfax 1450 1 4,8 Longridge Savannah ,8
* Gayla 500 1 1.9 Maybill Bridges 42
Hampton Rd 3850 1 12,8 Marshal Maaoh Branuh 1.5
Hinkle 4410 1 14.7 University Windsor 313
Hopkins Dr 950 1 3,2 Dallas Dr 300' 9 Travis 15
1110A 200 1 ,7 Off Nevada i
Johnson 1400, 1' 417 Daugherty Dallas'Dr - ,5
Lariat Rd 3900 1 1310 Hampton iarahal 145
i Loouati s 2900 I 9,7 1.35 Collins 1.1 •
Londonderry 3200 I 1043 Bain Baas Hollyhill 1.8
Malone 6225 1 20.8 scripture Haggard 40
1
sub-Total 61075 1 204.5 32.10
1
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[rloyd v. Harrell/proposed St Pond Issue
Pago f.
FOOL of
Street Length elks From To Ln Miles
Marshal ltd 2940 i 968 Hampton Highway 380 111
Maytli]l 8125 1 27.1 spencer 1-35 3.1
Mohican 950 1 3.2 Shawnee Navajo 15 i
Nav14jo 625 1 2oi Crook Mohican .4
Nevads 550 1 I'S Creek Navajo ,3
Oak, W 2150 1 712 1-35 Bonnie Brae 1,6
Pennsylvania 3000 1 1010 I-35 Hollyhill_ 203
Piping Rock 1100 1 3,7 Dallas Dr San Gabriel ,6
- Pookrus Rd 6100 1 20.3 1-35 Shady Shores Rd 213
Redwood 1660 1 5.5 Mingo University 19
Riney Rd 1790 1 6,0 Windsor Highway 77 .7
R10 Grande 620 I .l Dallas Dr Ban Oabrlel ,4
Ruddell 650 I 2,2 Paisley Mingo ,4
Sam Base 1700 1 5,7 1-35 Londonderry 1.3
San Gabriel 200 .7 Piping Rock Angelina 1
Sandyeroek 1040 1 3,5 Angelina San Gabriel 06
Scripture 3375 1 11,3 Malone Bonnie Brne 1.9
Seminole 280 1 .9 700' W of Boyd Redwood .2
Shndy Oaks 2890 1 916 willows springs Woodrow 2.2
Shawnee 1600 1 5.3 Mingo Univorsity .9
Southridge 5000 I 16.7 1-35 Lillian Miller 3,0
Swisher Rd 3300 1 1110 70U1 N Edwardo Pookrus 103
Travis 800 1 2,7 Piping Rock Santa FO .5
Underwood 6680 1 22.3 Airport Rd Corbin Rd 2,5
Westgate Dr 3490 1 11,6 Payne 1-35 113
i
Sub-Total 60,615 I 202.3 3102
TOTAL 1211990 1 406.8 63,3
COMPLETED STRRET D8PARTMENT PROJECTS
BLADE ON
Audra,bane 3300 ) 11,0 Lattimore Mockingbird 103
Bonnie Brae 4$50 15,2 Roselawn ONT Golf Course 1,7
Cardinal 20 I ,l Hummingbird 20, North 01
Cooper Creek Rd 325 I 1,1 Mingo Highway 300 11
Crawford 2400 I 8.0 150, 0 of Davis 2001 N of Day 144
Edwards Ln 200 1 47 Approx 2001 11
• Foster 2050 I 648 Mayhlll Landfill Rd at
Hickory Creek Rd 4400 I 14.7 FM 2281 McNair glementsry 117
James 350 ! 1,2 U3 377 350' North 11
Jim Chrystal Rd 400 I 1.3 135 Going West 12
Lane 300 1 1.0 McKinney 300' North .1
Lattimore 4350 I 14.8 Toxas Audra bane 1,6
Masch Blanch Rd 1200 1 4,0 Jim Chrystal 1200, North 15
• Mayhill Rd 22125 1 13,8 Highway 360 I-35 0,4
Mills 3520 1 11.7 Mayhtll Meadow Oak 1,3
Mingo 4800 1 16.0 Old No Road Cooper Creek 168
Mission 200 1 7 James 204 E. U, S, 377 11
Mockingbird 1675 1 5,6 Auden Mingo 66
Sub-Total 55,765 J 185.9 2019
,
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Lloyd Vo' Harrell/Proposed St Bond Issue
Page 9
Feet I of
Street Length Dlks From To Ln Milos
Mockingbird 980 1 3,3 Christopher Howard
Pockrus Rd 3050 1 10.2 1-35 Swisher L 2
Ra Rd 2500 8-3 Approx 25000 .
Ryan n Rd q
3800 I 12.7 FM 2181 Montecito 1.4
Silver Dome Rd 400 I 1.3 Approx 400' 2
Spencer Rd 3500 1 11,7 Loop 288 Power Plant 1,3
State school Rd 1750' I 5.8 Wimbleton 200' s Winston 07
Texas 280 I 69 Wood Lattimore I
Sub-Total 12,860 I 42.8
TOTAL 68625 1 228,7 5,0
25,9
3) Proposed Capital Improvement program
The Capital Improvement program is ready to submit to couuoil. Using
projects from that listt we Arrived at the following list of proposed
street projects for the 1991 Street Bond Issue, -
a. ROW for Spur/Loop 260 + 2499 (year to he determined) 1,6000000
h. Street Repaving
1993-94
1994-95 608,000
3221000
c. sidewalks
1992-93 Lillian Millar $ 53,000
1992-93 Willowwood Dike/Hike 107,000
1993-94 Miscellaneous sidewalks 122,000
d. Intereer.tion Signals
1992-93 273,000
1993-94 283,000
e, Intersection Capacity Improvements
1992-93
.1993-94 121 121,00
0
1994•-95 ,000
128,000
40 *This money In recommended to be moved to repaving during 199293,
f. Avenue B - sagle to Underwood
1993-94
137,000
9, Westway - Carroll to Fulton
1994-95 3010000
Ah. Windsor Drive - Hinkle to Donnie Brno - 425,060
These prefects from the cIY total $3p985,000, A three year program would
expend $1,320,333 per year. A four year program will expend $9961256 per year.
;Not approved in CIP, Council and Clbt2ari interest
,
Lloyd V. Harrell/Proposed St Bond Issue
Page 10
f
The proposed issue is based on the 5 Year Capital Improvement Plan recently
adopted by the council and are generic in nature. In the past, Council and a
Citizen Blue Ribbon Committee were given linhs to choose specific projects for
eignale, intersection capacity improvements, and sidewalks. Repaving should
generally be based on the list since it is based on the condition of the
street. However, Council anti the Committee may want to modify it based on
neighborhood input or other information.
PROPOSED
STREET MAINTENANCE PROJECTS
1992
feet 1 of Surface Lane o
street Length 91ke N. rpm . To Area By Miles
Anna 625 L 2.1 Channel Panhagdle _ 11650 44
Amherst 2020 1 6.7 Georgetown Hinkle 6040 101
ateenway 850 1 2,0 Brookhollow Augusta 5 1960 45
Jacqueline 1980 1 6.6 Willowwocd Parvin 60610 101
Laguna 1800 I 6.0 Stuart Road Sherman br
iVe 60100
LO
Manhatten 1450 1 4,8 Stuart Road Sherman Drive 51084 .8
Mercedon 1950 1 6.5 Willowwood Parvin 6,584 1.1 f
Mulberry 5700 1 19.0 Avenue A RR Tracks 18,424 312
Prairie W 1950 I 6.5 Avenue E i-35 9,416 111 ~
Prairie 3300 1 11.0 Rk Tracks Welch or Ave A 14x238 119
Redstone 2000
i 6.7 Neptune Hercules 6p984 1.1
Sierra 1620 1 5.4 Stuart Road Sherman Drive 50607 19
Sycamore 2600 I 8,7 Carroll Bell 71536 1.5
Williamsburg 1100 1 3,7 Jamestown Nottingham 3,860 16
Wood 2420 1 8,1 McKinney Texas 61574` 114
Total- 31,365 1 104.6 111,557 1646
ALTBRNATESJ
poet k of surface bans,
'Street be th Biks Prom To Argg~SY i es
Hickory 2050 I 668 Welch Carroll Blvd 81740 16
• Hickory 1025 1 3+4 Austin Bell 7,200 ,8
Highland Boo 1 107 Welsh Ave A 21261 ,3
Highland 790 1 246 Welch Bernard 3,453 44
Highland 1200 1 4,0 Bernard Carroll Blvd 4,133 ,7
Hinkle 4425 1 14.8 300 Windsor 21,000 3.4
Windsor 750 I 245 Hinkle W to New Overlay ` 21078
• Total 10,740 I 3518 480865 715 • •
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Lloyd V, Harrell/Propoeed St Bond Issue
Page 11
1993
Peet 1 of Surface ,one
Street Length Blke From To Area SY Miles
Bryan 1000 I 3.3 Oak
Scripture 3,195 ,6
College 730 1 2,4 Bell Frame 2,088 4
Ogan - 660 1 2.2 Malone Bryan 20017 Greenlee 325 I 1,1 Avenue c knight 11278 ,2
Greenlee 390 I 1.3 knight 1-35 Service Rd 1,523 2
Headleo 2975 1 9.9 Hinkle ; Bolivar 1,047 1.7
Hopkins Drive 1500 1 54U Dallaa Drive East end 6,063 ;9"
Ile ecules 2875 I 9,6 Stuart' Sherman' 7,900 161
Mockingbird 2250 I 7,5 Audra Lane US 380 51667 09
Mozingo 1420 I 6,4 OAktree Tyler 9,453 1.1
Oakland 392$ I 13,1 Parkway/Austin Locust 160600 3.D
Sandy Creek 1000 I 3,3 Angelina Bend Angelina Bend 4,025 16
San Jacinto 2050 1 6,8 Colorado Blvd 1-35 a 11,058 106
Sawyer 650 I 2,2 Oakland No Locust 11725 ,4
second 410 I 1,4 Locust El A] 859 12
Sunset 2090 I 7,0 Bolivar us 380 7,818 1.6
sun Valley 700 I 2,3 Stuart Atlas 2,417 ,4
Sycamore 4760 15,9 Welch Hell 14,531 2.7
Texas 725 I 2,4 Bell Frame 21327 ,4
vine 1600 1 5.3 Withers Grove 2,854 .9
Windsor 3550 1 11,0 Brie tol Buries 23,489 2,7
Total 36,085 I 120,2 128,134 2240
1941.
Peet 1 of surface Lane
Street tenth Bike Kr m To
A e. r a By Miles
Avenue B 600 I 1,7 Maple eagle 10700
Avenue a 1375 1 4,6 Prairie W, Hickory 0,620 ;8
Avenue H 1380 1 466 Prairie W, Hickory, 5,480 ,8
Bonnie Brae 3325 I 11,1 13$ Sariptur@ 110'356 205
Central 900 I 3.0 Highland eagle' 31410 5
Mockingbird 5250 I 17,5 McKinney Audra»LDR Drain 18,597 310
Hontecito Rd 2775 1 9,25 Hobson El Pasoo 9,300 202
Morse 3925 i 13.1 Robertson Woodrow 18,309 310
Santa 14ontica 2930 I 9.8 Hobson P1 Paseo 91472 117
Stonegdte 1300 1 40 Pennsylvania 135 110271 7
Willowwoo4 5410 I 190 Bonnie Prae 13$ 19,180 243
Wilshire 575 I 1,9 Avenue D Avenue c 31875 ,3
Windsor 4025 1 13.4 Longfellow Nottingham 14,236 3.0
e Tota3 34,170 I 114,0 121,006 21,0
Lloyd Harrell/Proposed St Bond issue
Page 12
k•
1995
Feet iof Surfaoe Lane
Street Lei th Blka From To Area 8Y Miles
Bellaire 2000 ! 6,7 MoRinney Western 9,452 1.1
Bonnie Brae (south) 6100 1 200 1-35 Highland Pk Rd 17,733 2.3
Bryan 2500 1 843 Crescent Scripture 10,524 1.4
Chisholm Trail 1200 I 4,0 Bell Stuart Rd 4,219 ,7
Driftwood 1220 1 4.1 Ban Stuart Rd 4,305 .7
Hilloreat 3180 1 10,6 Scripture Emory 1311.19 2.4
Mor.ingo 3120 1 10.4 Tyler Paisley 14,577 118
Panhandle 7200 24.0 Bonnie Brae Carroll 27,550 4.1
Total 26,520 1 88.4 101,499 1445
%TAL SY 101,499 i
The following are additional projects that could become projects ill the proposed bond
issue. Please review them and advise if the priority for any has been raiPro Another
option would beau do the 5 Year 1991»1995 Street Program with stroet bond funds. We
would then use the $350,000 in the street division
STREET MAINTENANCE
Bomag & Overlay s
Feet I of Surface Lano
Street Length Blks From To Area BY Niles
Bonnie area 7300 ! 24.3 Airport ad Roaelawn 248
Willowwood 59UO 1 19.7 Bonnie Brae Bernard 2.3
Colt 3300 1 11.0 Congress Weatway 1.9
Laurelwoo0 2190 I -7,3 University Dr Rayewood 142
Salado 1290 I 4.3 Dunes Cooper Branch, Went 7
Scripture 4940 I 16,5 Jagoe Honnia Brae 307
Linwood 1425 1 4,8 Sherman Dr Crestwood- 8
Roselawn 5900 I 19,7 Ft Worth Ar Bonnie area 212
xayewood 1100 1 3.7 University Dr Greenwood 6
James 3775 1 1246 Maaeey Highway 377 1.4
Egan 3780 1 12.6 Carroll Blvd Malone 241
Robinson 5000 1 160 Teasley Ln Corinth City Limits 149
Jim Crystal 6900 1 23.0 Union camp Marsoh Branch Rd 246
• Riney Rd 3400 1 11,3 Bonnie Bras Highway 77 113
Barrow 610 1 20 Westgate Dead End 3
Lattimore 4370 I 14,6 Ruddell Audra Ln 1,7
Bryn MAWL 875 I 2,9 Amherst Hinkle 5
Mulkey 2650 1 8.8 Audra Ln Lattimore 210
Bernard 3850 1 1240 Eagle Dr Hickory 2,2
Maple 1300 1 443 Avenue a AVonuo D 7
• spencer Rd 6400 1 2113 Loop 288 Woodrow Ln 2.4 + •
stato School Rd 3800 1 1217 135 Corinth City Limits 115
MAyhill Rd 8600 I 2047 Highway 390 E. MoKinney 3,3
Payne Dr 2580 1 846 Bonnie Brae Westgate Dr 140
Total 91,235 ! 304,2 41410
-Yj
1! '
! R}t 1 1'4 1 1 1 1 1
! F 1 1 ! < uti ! '
1. cJl r( Ir S ~ t
I a 1 1 t t! l y I `
' e",M1 1!p ~ I
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Lloyd V, Harrell/Proposed st Bond Issue
Page 13
i
STREET MAINTENANCE
Curb/flutter 6 Heater Overlay
Feet ► of Gurface Lane
Street Length Blks prom To Area SY Milee
Woatway 2450 1 812 'Vu Iton Bolivar C & G 1,4
Mistywood 2550, 1 8.5 Glenwood Nottingham 1,4
Austin 3225, 1 10,8 oakiand Parkway 1.6
oak Iana 7925 I 13.1 N Loouar Parkway,, `3.0
Porestridge 1175 I 3;9 Hobson Ln Timber Green C & G 19
woodthrush 925 1 3.1 oriole Cardinal .5
Menterry 1500 1 5.0 r Sherman Stuart 69
Panhandle 8000 1 26,7 Ronnile Brae Carroll 4,5
Azalea 1090 1 346 Laurel Highland Pk Rd 6
Total 20,915 1 8249 15.0
Please advise if you need further information to help the bond issue gain approval and
funding by the voters,
Jerry Clark
wp
19520
e
111
' r.r+..+....~~.H•-+J~. r.. Viwi rY~r:Whitl6t{d'f Jr..'Nttr. ~F. e.tf !'j} ( 5 5 1 1 l :F ~l
a 1 lea r~{.byl Itins F Y ! 11T' i~ J' II vy` i i ,alit.
S~fl sli3444
e h. ~~b7 ~a la{F 1 Jll ~?t~{ ~her)it
144
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Moodvt munia credit Report
~
Denton, Texas October 23, 1989
Now Issuo kovsnua
solot $20,000,000 Utility System kovenue Bonds, Series 1989
ckifig: Porbids October'L4
Moody'srotft., A
u[altysydfm RwOnU* goods
opinion: Satisfactory financlaloperatlonsprovidoadequate amortization schedule along with theellversityand
margin of protection; although significant future strength of theservicearea contribute to averegc
capita I requirements are noted. 'Me above average debt security,
keyfacts: Type System; Municipally owned and operated Coverage "of Peak Debt service, 1992,
electric generating and transmission, water supply by FY 1988 Net Revenues: 1.86x
and distribution, and sewage collection and treat. Operating Ratio, FY 1988: 83.411ol (092.5%
ment. Largest participant in Texas Municipal Pow Debi Ratio, FY 1988: 30, I %I fD 36,55E
er Agency, rated Al,
Service Afoot City of Denton, Walerlwasiewater ReVanue Debt Outstanding: $63.3 million
service, also to Cliyof Corinth, Excess power sold FMe•Yeaf CIP Debt Issuance: $64.0misllon
to numerous purchasers in greater north Texas Moody's Rotinos,
region. Insured Debt. Series 1988, AMBAC: Aoo
Payout, Ten Years: 53.6% mxtre'M.
AveroaeAnnuolGrovvth
Electric Customers, 1982.87: 6,5/0
1987.89: 0.7'Yo
analysis: 'tltectureni offering represents a substantial tom receives annual refunds from thoTCxas Mwsic-
Increaselnutilitydebtwithesilmatedfuturebor• ipalPowerAgency(TMPA)tnfflclofsexpect dtese
rowusgneedsat$64million according tothefive• rcfwidsto continue in 1990and1991.thereby
yearc3pitalImprovement plan.However, thecity's sniociihingifteeffectsof higher Initial cost for
adherence to rate adjustments and moderatecus• TMPA's operating Oibbons Creek (lignite),
tomerbase growth support smisfactoryfinancial Puthennore,TMPA'ssuccessful settlementofSalk
operations, Thochy, historically, provided comfort- iog Its Interest In the Comanche Peak (nuclear)
able debt servlcocoveragomargins, andofflcials project back to Texas Utilities should benefiithe
report a commitment to maintain that rate policy customercilles bytowering energy costs through
for dos and future Issuances. Additionally, thesys• lower debt service costs related to [tint project, • 0
• d
,
•
2 Revenue October 23, 1989
Denton, Texas
i
,
1
The utility system tenefitedtromthchistoric eco• Diverse energy resourcmprovide opetatlonalslabil•
nomic growth of I oDallas•FortWorth area and Ity, Including the city Is own natural gas fire genera.
theslabiW.Ingpresence oftwolarge1Inlverslties, tots, andmemberahiplntheTexas Mgnlclpal
negeneral slowdown oftheTexas xonomydid PowerPool'(TMPP)AndtheElectric Rellabllily
place uncert ainly on future growth prospecis, CounCll of Texas (ERCOT), In addition, lheeity,
nIkughthepresencoofIwomajor statouniversi. plans to construct lwohydroeleotdcplants wittt
Iles docsprovideastabilixingfactor. OrowahIn bond proceeds atid Internal funds,
demand for electric, water, and wastewater services Through the partlcipailon In TMPA, the city
varied through the 19805, requiring annual adjust- reflects Its 22,5% share of operating and borrowing
ments to the capital Improvement plan. This costs oftheagencypAldfromthesystem Itexpenses.
reflects, in part, a shift In the base from single The elty has shifted from primarily using Its own
family homes loan increasing concentration of natural gas generators towards purchase of power
apartment residences, and greater than projected tiuoughTMPA,expeclally since the 1983 opening
population growth. The current CIP reflects an ofQbbon'sCreek, a lignite•fireplant,
expansion of the utility system to meet future
demand estl amted to grow 2% annually,
d
details of bond Legal Name of Issuer Cilyof Donlon, Texas, Re0lstrort Texas American Bank/Forl Worth
sale, Security; Parity first lien on net system revenues. N.A, Port Worth, Texas,
Dote of Bonds October 1, 1999, paylnaAgenh Texas American B;utk/Fori
Denomination: $5,000. Worth N.A., Port Worth, Texas,
Annual Maturities 12/1 (5000) Dellveryl On or about November 28,
Year Amount Bond Counsel fvlcCalt, Parkhurst, and Norton,
Dallas.
199199 $1,000 Flnonolol Off loon John P, McOrane, Finance
2c J0 09 1 J00 Director,
Interest Rote: To be determined, Advisors: First Souurwesl Company, Dallas.
AverageUfeofIssue: 10.8year5, Auditor; Dcloiue,Hasklns&SeIIs,Dallas
Interest poyablo: Semiannually,beginning)une (FY 1988).
111990,
Call Feoluresr Beginning December 1. 1999 a1
par,
b
details of last Dote of Sole; January 17,1989. Purchosat: MBank Capital Markets and Others,
comparable Amount: $1,155,000. interest Cosh 7,02%
sale:
rating hlsloryt Insured Debt, Mofoh 1983: A
Series 1988, AMBAC; Add •
anatysth Chris 6varoom
(214 653.1927
..~tonly'trnvuwnServlu,Inc,MtuaeJJueeananduutlunu,thaprrprubnofNlspublka4,~n.'n,etnfamwmkktnh~t+emobulnedrrorarauwerbNiwMbMwsun,erd
Ithsble. but beewte nfthe poetibinty of hump nd mechnkJ ow,lurcuracy or eanpkw nest trial uwnteed, Meedy't wtMe am oplelaes, ael»peetrendYJenl to Wry of bell,
W d, to eecwtey li n of ruranmed, A twinl slw,ld be *tlooW colelY of ON rkwe In an FvaunatdaIden, AM you thuuld mile yar own wdyadevaluwbn of uy lwr Whom
a cumuet a debt obiiaauena you unttdr lwytna or mU+na. Mom tuuen of urporarahndt, fun kapal twit AM WAe, preferred mods, nd eanraeW ppr Whith rataw by..
Moo,ly'I IevenarServke,tiesMve,pdrwrexlvinl useeWna,ayeed ropy a fee to Mowy'sfietMe ["I ndfulda r,vku. TM roe rryr Mr{ beepto(l25,060.
6Vptirht O 19596yMoary`s lnvIo"s Seevioe, Ino. MINAS and eeecuava of aces so 990urch Suem, New Yak, NY Ie00? ,
. 1e h is
r'
,
R* V*"
October 23, 1989 3
Denton, Texas
4
do;factw4l Sizabieincrease In debt stemming flomcurrcm dons;groumdwater storagcandinitial work onnew
offering, although current debt ratiocomparos with water and expanded wastewater treatment plants.
system medlan,Favorable debt servlcecoverago Future Flnanclno/CopllclPfoordmi Five-year
additional debtexpectedtoconninueannuailyto CIF+foreachsy$t<mtota1sS32.9miflionforelectric
finance future debt lssuanca and $5I ,5 million for water had wastewater, Sftuctu1M Debt structured wtutrelsllveltylavol gram Includes ienlargement oftwoexlstingsubpro.
sta,
annual princlpal payments, In combination with tions, hydroeleCUfo plant Improvements and
outstanding bonds,descencifeigAnnual debt service additions to electrical disulbuilonSystems: upgrad•
following peak In 1992, )rapid payout fix utility. Ing existing water treatment plant and 4onslructfou
COMOOO: Comfortable debt serv loo coverage of new 14 Man water treatment plant,wasieu'arer
levels established overpastfewfiscal years. puturo treatment plant expansion, storage' tanks, and
rate increases expected to maintain significant mar. equipment replocement,7hocity planstocompote
ginsofcoverage.Pro/ecllonsretlect a comfortable the financing through a combinationofintemal
level of cove rage through 1993, fund an debt lssuanceof approximately$64 million
UW of Proceeds: Construct hydro•cleo rle plant, over the next fivo years, according to the capita!
make improvements to electric dlsulbulIonsubsta• Improvement plan,
Debt Slolement as of 10/19/69 fS 0001:
Amount
Outstanding
Amount Mtore; After Final
RdInd Issued Dellverv beltyOry MOludiy
Series 1983, Refunding A $25,284 $16,655 $1053 12/l/07
Sexles 1984 A 11000 350 350 12/1/94
Series 1984A A 20,006 5,300 5,300 1211/95
Series 1957 A 17,465 17,485 17,485 12/1/09
Series 1988 MAaa 3,500 3506 1500 12/1/68
Subtotal ~ $67,265 $43,290 $43,291)
Series 1989 M 520,000 0 20,000 12/1109
Total
(wrenl $87,265 $43,290 $63,290
Norkdnr.
0]Inlwt4 by AMn AC,
I'm addiUml I I nrm 4kW tot en: ktm Mt"Y 19 Ny Mun klM1 wd (Iiwnn,nenl MMUAL pge 5807,
Selected Dobl Service Requirements fb 0001
Outstanding ---Current Issue-
Debt
1940 debt Prinolpol 071nter%t Tlol
8 Peak year 1992 $5"281 ,443
5,251 $1,000 1,443 20).3
Final year2010 $7,678
152 1,100 4J 2,f M)3
mArpvmet 7.6011. on ek euneM 0M, [MS ir ryri"old"•J by nnOcLl NldHn
A 0
.
Q
4 Revenue October 23, 1999
Denton, Texas
Raba of Reflremem 000)
Total Debt
Prlnelpal Amount Due (!ncl new Issue) 96
In 5 years $15,875 26,0
In 10 years 32,705 53.6
Debt Service Coverage 000)
11 Months
Lost 3-Year r Ended l^ndlnp
Average_. 9/3188 8131/89
Notrevenues $15,002$14,371 $14,381
Estimated peak requirements:
Principal and Inleresl (57,724 In
1992) (x) 1.94 1.86 1,86
security Bond Securlty: Parity first lien on net revenues of no mayor, city secretary, and Independent CPA
provisions, utility systemtplus any add it Iona Irevenues must certify that allcondilionsaremet,
expecled to be available to the city on a regular Authorized Investments: U.S.govemmerllsecur•
pedodlc basis, ides, U.S. government agency securltles, securities
Flow of funds: Standard, open loop: (1) current guaranteed or insured by ti;eYu11 faith and credit of
expenses! (2)Interest andSinking Funds; the U,S„and cerlifleatesofdeposhor time deposits
(3) Reserve Fund; (4) Extension and Improvement secured by the above,
Fund (annual deposits of ME, adjusted gross rove. System Description;
nues); (5) Emergency Fund; (6) any lawful purpose
(charier Electric: Comprised 9196 of operating revenues In
pundits transfer of 640 of net equity to
General Fund). fiscal 1988, Cilyowns andopa'atesfive natural gas.
RWOCOvenoof. Acceptable. Sufficient (o pay fired
y 3.101111 power agency created In 1975 with Uarland, cover 1 operations and nnual ndobiservice, ancetaadto1.25t,2 5 Etyan,andGreenville, Each city unconditionally
avetageerannua1 de vice25r times suc mesuc' cs obllgaledtomakeproratapayments,ifnecessary,
averagebt btservlce, or 1.25 to maintain required amounts In the Agency's
coed!ngyear's debt setvice, whicheverIsgreater, Bond, Reserve, and Contingency Funds,Denton's
Reserve Requirement: Adequate. $3,0 ml ll lon or 1989 share of TMPA is 22.540. TMPA operates
maximum annual debt service, whichever Is less, Gibbon's Crook, allgnile•firedplant whlchbegan
MON. dial following Issue of these bonds, reserve eommorcialoperation inOctober, 1983andrecent.
shall be average annual debt service providing it is Iy sold a 6.2% Interest In Comanche Peak Nuclear
not less than $3A million if maximum debt service Plant, back to Texas Utilities, The city plans to
exceeds $3.0nil II!on,This reserve requirement construct a3,000kwhydroelectric unit onLike
mustbofunded oil Issuance of the bonds;howover, Lewisville and a project lodevelop1,000kwhydro•
on Issuance of addilfonal bonds, the reserve most be electric turbine on Ray Roberts Reservoir, current.
a) funded over a period of eve years, iy funded with current offering,
Addlilonol Indebtedness: Satisfactory, Provides Woter/Wastewater City provides telall and
that pledged revenues (of next preceding fiscal year wholesale service tothoclly and surrounding area,
or 12 consecutive months out of preceding 18 City has rights to 4.6 MOD from LewlsvilleReser-
months)are (1) 1,2S times average annual debt voir and purchases remainder from Dallis. Also
service,and(2)1. 10 times maximum debt service. parlicipatcdInconstruction IstheRayRoberts
M 0
0
1 w
s+
Revenue October 23, 1989 5
Denton, Texas 4<
ReservolrlnconjLine lion with DoIlaccity'sshare Hlstorlool and Pro)ecfod System Usoge; City
Iolals 2690. Chy presently has 5 MCI ground slor• revlsos consumption projections annually. Water
rrand416MI 1rlevalydslnl;lgn Walrtlnililnt'ul prulrrrl11nsnwioulhuvidovilr.drYyc+rill1988alld
r,tl%oIIYI+tr'a'InIVIll U111mill, 1111,ill
1il,llltlrr riitgcrtrullll'llpl
ruasu ucr new 10 Mf IIJ phhn, l'hy als<, upirulcs
activated sluge wastewaterircatmenl phull with 12 f
MOD eapacl ly; expansion expected.
Denton Ufhity System (Ascot years ended 9/30)M
_ 1985 1986 1987 19881980
r
Water consumption average daily (MG) 10.0 10.3 10.6 12.1 11.0
Maximum day (MO) 20.9 22.8 23.6 23.2 20.7
Electric consumption(gwh) 781 784 8l2 865 857
Peak load (mW) 162 173 169 181 176
Average customers (electric) 25,549 25,913 26,751 27,430 27,147
tD S"w OMkW 5weraw kpy oRkw4.
Denton Utility $044 (fiscal years ended 9/30) M
1990 1941 1992 1993
Water consumption average daily (MO) 12.1 12.8 13.5 14.2
Pleculcconsumptlon(gWh) 784 803 824 800
Peak Iaid(mW) 183 187 192 197
ID Pro)eeud; "me:Offktel Sul"
et.
Rates: Pleclrlc rates Vary between May to October 13%, The Average residential chargeln 1989 was
and November to April wtlh the Imitate adjust. SA Conti per kWh, Next electric rate Increase not
ment October 1988 designed to reflect muro accu• anticipated until 1993 for 2,5%, City Asa adjusted
rateiylower energycostsand different customer water and wastewater rates In October by 8.5%
classes. Tolal electric base roles adjusted downward each to primarily meet the new debtservicocosts,
by1,6%;ooneralService custontorrates Increased 0111•of•citycustomers charged 15016In-cilyrites.
by 3.4%, while large customer rates declined by
adminlsfraflve formofGovemrnent: Plve•memberpubiicull• Umocligihlomnployeesexceptfirefighterscovered
w factors: Iles board appoIntedbycily cotmcil, supervises the by thcTexas Municipal Retirement System. r
deparunentof public utilities, Employees contribute 5%i dtycontrlbules 5,75,:0
Public Employees; Pmploysupproxhnato1y200 ofgrosspay,
for clecirle. water, and sewer operations, A l l full,
economic ServleoAreo; City shows continuedgrowfh, binedenrollment o~fTexasWomon'sUniversity and
g faefers; while only half developed. Diverse economic base North Texas State University approximately • '
with numerous manufacturing plants and Iwo 40,000, which skews socioeconomic Indicators,
major universities. which provide stabil i ty. Com •
• A
11 4,
t ! 1 y 1 : n h
r.'f k
r fV. ,
v
V
6 sl vsr>w 0010bMw 1909
Benton, Texas
VopukdIon orld HoWnq Cj-&ochrbffoa; Donlon -
stoto
1970 100 980 1980
Poputulbn, b
Medlansge 22,3
%school age 249 27,9 178 159 27.1 300
% wrxking age 209
% 65 and over 68.0 70.4 W.9 60,7
No. persons/household 6 8 8 5 9.6 11.3
Incomo 3.3 2A 2,8 2,75
Media" family income $9,092 $20,6565p S19237
%belowpovertylevai 11.2 , $19,908
Parcapiiaincome $2,793 17,247 14.4 12.5
Housing, $7,133 $7,313
%owner occupied 51.2 46,1
%builtbefore 1939 61,2 64,4
96 buntsince lost census 4.5 11,1 26.1
Owner Occupiedmedlinvaiue 40'2 30.1 39).3 259
Median gross rent $17,296 $49,000 $3 $90p $47,300
Occupied housing units $104 $238 245 $243
sere,: us. cM«„ a,,,w. 11,896 2717,$22
- -
to e.W oA pOpu aiWOf 10-874 14 1979 W41.063 N 1960.
t711910J0 %ch~4~r 473{, -
19Nomiwo a41Ju«IGyop,Wioe6reya0an20,0001n3w~Fw.uM6trn..
flnoneiol Recent finanelalstalements show a sillsfactory
.
Won: TMPA'ssettlCrnenlWith TexasUtilities should
financialposili0n,largelytheresult ofmodoraiing ease fulurepressureonelkrgycosts
fuelcosts, Debt servicecoverage appears hoahhy.
•
1
l
S r t ~ t I rel.
J 1, t
~ l t 1
A Ar:, : 7 r,
, r
,
r
Rayonue October 23, 1989 7
Denton, Texas
Anancksl Podo(MMO (fteeal *yan *nd#d 9/30 $ 000)• I
jj
-----Historical 4--~- Unatrtllled MProJeo}Ad-
1986 1987 1988 m 1989 too 1991 1992 1993
Elecrrlo 564,206 $62,123 $59,469 557,301 0)565,205 !)]566,76.! M$70,180 01573,436
Water and Waste.
water 9,267 11,806 13,657 11,610 16,818 18,736 20,831 21,995
Other 35: 192 257 21A
OperN'ngrevenue4 571,508 $73,121 $73,383 569,127 SP2,083 $85,501 591,011 595,431
OrosstevenueAnd lncome 75,760 74,969 75,575 714168 84,122 87,608 93,218 97,722
Pruchaseofpower 46,414 46,588 4544 (043,159 0)46,111 11148,334 1)50,697 0)53,128
Pue1 2,317 1,597 2,452
All other 10527 126M 13,I8g 11,62
8
Tota10& Moxpenses 539,238 S60,835 $61,204 $56,187 568,907 $11,984 815,587 $79,422
Netrevenues 16,502 14,134 14,371 14,181 15,215 15,624 17,631 18,300
Interest 3,862 3,428 3,180 3,40?
Princlppat and Interest 5,882 5,448 5,295 5,65'3 7,051 7,740 8,299 81001
Trims fertoOencralFund m 4,616 4,987 4,980 3,550 3,746 4,454 4,896
QISar«:Ofricl~Y3uta'naa
OTren detleul,dl dm NlwMiveetpenrtlncurreJAygrneuljovemmcnlopemlode rcfkcrcJ ttOA N.
M luludet TMVA refund.
~Auchwolpowatndutlefhwi.
~Uawdited,l1' omhstedal Arautt31, 190.
Key Rotios;
--Histodool ------Projected
d Medlon 1986 1987 1988 1990 1991 1992 1993
Operating ratio O 92.5 80,6 812 814 83,9 84.2 $3.1 83.3
Netiako-down(%) 8:35 2118 18.9 19.0 18,1 17,8 189 18.7
Interest c overage (x) 6,03 4,27 4,12 4.52
Debt servlcecoverage(x) 2,14 2,81 2,59 2,71 2,16 2.02 2.12 2,29
Debt servicesafetymargin 7,95 14,0 11A 12,0 9,7 9,0 10.0 10.5
Debt ratio (95) 36.5 311 30,4 30.1
~1nlaWe dltufbwlM tyNem4 :
salaneo Shoot Bala (!kcal years ended 9/30 $ b00)i
• % Change---.-
1986 1987 1988 1986.87 1987.88
Orossfixedassets $124,108 y $132,378 $140,556 6,7 6,2
Net flxedassets 78,966 83,021 86,412 5.1 4.1
Not working capital 32,646 31,640 29,050 •3.2 •8.2
Long-term debt 39,871) 40,975 41,905 •18 2.3
Debi Service Rwrye
• and Debt Service • •
1~undsM 51112 6,163 7,172 20,6 16.4
Net funded debt 34,158 14,812 34,733 0,2 -0.2
t<1Ndofaccwed NYntepeyebfe.
99304001 M
• 0
mood ; Mun ic
ICIY redit Report
E
Denton, Texas July 29, 1988
Now Issue Revenue
lalo! $3,500,000 thibty ' tiy'
stem Revenue Bonds. Series
dofo; For bids August 2
Moody's rating: A
OWY Syo#rn Nwenw bondr
oplnfotl: Satisfactory financiAl operations provide a coinrun• above avenige unx+ tiyanlnn schedule 41111119 \vlth flit
able margin of proteclfon, although sfgnlficnnt diversity and strength of the service ure;i halhcr
future capital requirements renialn a concenr. The support credit qunlhy,
key factm TypeSysiern; Munictpally owned and opcrolcd Payout, TonYegr$,
electric goneratlng and transmission, water supply 57.. ,
and distribution, and sewage collection and treat-
ment. Largest participant In Texas Munlcllail Pow- ElechloCust trlers,1982.87;
or Agency, Coverage of Peak Debt Service, 1991,
SerOCeAreoi City of Denton. Water/wastewater bVFYIQVNWPevenues: +,trs
service, also to Cfiy of Corinth, kxcess power k Operoffng Roffo, FY 1987;
sold to numerous purchasers In greeler nosh 'T'exas Msdfan:
region.
Debt Rotlo, Fy ) 987; 10.4 %
Medlan: 42.9T
analysis; While the city does not expect further debt Issuance Project back to Texas Ullihie.e should Is unit the
until 1989, the city estimates borrowing needs al customor titles,
$33 million for now construction according to ilia The ullhly system hits gained from the ht+taric
five-year caphal Improvement plan, economic growth of ilia ballas'Voll Worth ,area
Period rate adjustments and moderate costomer and the stahiilzing presence of two Lupo univers!•
base growth support sallsfociory, financial olkra- Iles, However, the general stowduwn at' ilit! s,ns
lions. Additionally, the system receives annual ecottomy plaees uncertainty on future growth pros.
refunds from the Texas Municipal Power Agency peck. Qrowlh In demand for etrcnie, outer, and t '
(TMPA); officials expect these refunds to continuo wustewuter servlccs varied since the hillial 19,40
In 1989 and 1990, thereby smoothing the effects of sludy, requiring annual adjustments to the capital
higher Inllfal cost for TMPA's operating Olbbons improvement plan, This reflects, !n pun, it shift in
® Oreek (Ilgnlte), TMPA's successful settlement of the base front s!ngle family humus to tin Incivaslnt,
k r
selling Its interest in the Comanche Peak (nuclear)
r.
r OW
terra
~.rr.
M d '
, r
i
2 Revenue July 29, 1,46
Denton, Texas
cuncentrulloo of ,IE,;Irtulem residences, and greater "her hydroelectric plant to be built Orr Lake Rey
Ihan pfe*led populn0on growth. Roberts,;
Diverse energy resources provide operutlonul stabil- ' Through It, partl4lpAilon In 1WA, the city
Ily, including the elly's own natural glue tiro genera- reflects its 21,8% share of operating And borrowing
tors, unit nruurlwnhip hr the Texas Muoiclpul cosis of the agenej in Its own operating expense. !
Power Pool ('rMPII) mkI the Electric Rullubilily The city has shfili d from pilmary use of its own
Council of Taxi" (I:'RCOT). lit Wdillun, the city natural gas generators towards purchase of power
plans to construct lI hydroeteotrle plant wills bond through TMPA, expecially since the 1983 opening
priweeds urkl internal funds. Yulure plans rotl for of Olbbon's Creek, A IlgriheAte planC
details of bond Legal Nome of Issuer: City of Denton, Texlts. Regbtroc Texan American BarduFort Worth
sale: Security; Purify best lien on net system revenues, N.A., lbm Worth, Texas,
Dateofl3onda: August 1, 1988, Paying'Agenfi Texas American Ba*4rort
Denomination: $.ifxxx WorthN.A., Fort Worth, Texas
Annual Matur@ks 12/1 000 Delivery: On or about September 6, 1988.
Year Bond Counsel: McCall, Parkhurst, and Horton,
ArtlOUtlt Dallas fiI
19811.2011t1~~~- $175
IntefestRoto Tula doermined FlnanClalrJfffccef: John F, McOrane, Finance I '
, Director, l f
Avaroge Life of issue. 10.8 yeas, Advlsm First Southwest Company, Dallas,
Interest Payable: Scrolunnuully, hegurning June Auditor; Deioltte, Haskins R Sells, Ulu
1, 1989 (FY 1987),
C011FeaturM Ifegliming December I, 1988 at
par.
cwatis of Iasi Daloo(Sale, SelNunlxr25, 1184, InterestCost: to-296%
comparable AnMnh ,t20.fxx),t811). MoodY'sIndex: m 10,10%
Putcho3er; ltausdia Pierce Refsnc.s Inc,, and
ether.
01 iii A mied iv,tw, s, ,r h'klto4xt It, pim.
toAng htslory: March 1983: A
•
analyst: C, Fvang;
M,ny's hlrulule Svwk4 hk. 11,1 1,561 d r.0ae anJ r,wlkrr kI the prepamtal of lhh pi blie*lnn.'N tnrormalon to m IA h" bem *Ak,td ftaa waitm belyved to be lecutm Yid .
Itlul>k, NO la dun' , I lrr luulhihly of human Wkl 1,v-041114 annG III uceutaay IN W1I0k4NK!V% Is INd IIVIWWJ. MdWy'l (WIV 1N eplidI t, W Itedseldeedttloet b buy of rill.
al,l III II m ul.l,y I, INN y11u1x dml A 1Jlbly sl%mkr lr wt'IyIMJ Ntkly it f"r fMW k all lmyollikla dtC4W, Yid ) ar AWW mdw yew ii" llydy ipd eYt md" of my 1~ Mlgn
xY1 nrk. cN ,kit ,J by ulik% you ""i"1 k•t Ivylllg or xlliug. Ah41 hmis of korri Ye buikh; mwk1NI toWo Lid irwet, PrOt"Ailod, NW CWWWO at p~'allfdl W hied by
Ahlely's tnrell„ I, smikc, liv. lure INkl l., fr,Ylvhlg Itk` Wholf, agneJ 11, pay A ke to AAWy's M1x the ApprAlul atw! tat uhkq. lbt kd "t" rrta'j{,App 10 1134,400.
r,hptirhl ey 110." by Maslyls Inv,aru,k h'ervkc, hr. I'ubh.hiny pad i ttevil" 910kM At 99 Clwnh Suety, New Yolk, NY Im
0
l ' f5 1 t1
r
•
1
i
Revenue July 29, 1988 3
Denton, Texas
debt foloom: Current offering does not greatly alter debt struc• Use of Proceeds; hnpnrocnicnl. to walcr nod
lure; debt ratlu compares with system nwdion, wuslowaicl ncuGnem plants:
Good debt service coverage. No oddirionul dobl EuturefindncIng/CapitalProgram: No uddi-
expected until 1989, when several major projecls Ifonui txnfowing expecle(I until 1189. Mognim
arc contemplated. includom enlargement of Iwo exLrdng subslnIIIIIN
StruCtufe: New debt <uvciured with level umiual hydroelectric pluul Impnlventcros and Iid ditiunti lu
principal payments, In combination with umislan . oleclrinl distribaliun symoumt uppnndhig t,ximlog
Ing bonds, descending annual debt service following water IreNmom plum and commIuedon or eicw
peak In 1991. water llcutmcl l plant, wustewiner neaunem Blom
CoVerage', Slight deterionaflon In coverage over exponslnn, sloruge 1111rks, and cyullnuwl replace-
post few fiscal yours. Futuro rule incrcuws expected menl.'tllu city plims to finance thloaph a comhim,a
to maintain significant margins of coverage. Projec- 110n or Inlenlal f o d Lill debt Iksuauce ur
Mons reflect u comfortable level of coverage approximately $:11 n1Nllou liver file uk'xl five yvmr ,
through 1991, well within rule covenant or 1,25 according l0 file cophol Impimcmcm phis.
ilmes debt service.
Debt Stoternont as of 1/19/87 004
Amid
Outstandfriq_
Amadnt Wore After final
Rating 4 Iesul9d b fLI Deilvefy MaI
Series 1961, Refunding A a25OO '',$16,453 $16,655 1211107
Series 1984 A I,(XX) 1,10 1 3$11 12/119.1
Series 1984 A A _2(),000 .5,3(91 S,;UN1 " 12/IJ95
Sedes1987 A 17,485 11,493 17.48.1 12/1104
Subtotal $61,765 $39,790 519,7eN1
Seres 1988 to A 3.MX1 _ 0 3,5011 I?/1108
Total 567,263 S19171X1 $43,290
Q1 Comm nrklinr.
PC, eddilknnl Inrommalon pkim eere, 10 efwy's 1998 hlv impel uxl Lluvemnknl mmmal, lope 1179,
Seleofed Debt Siarvfco Requlrenrl 000)
oulstanding Current Issue -
_ Debt Prince rap I nlnterest _ Total
First year 1989 Y ~$5,420 v II 511e) $5.639
Peak year 1991 5,498 $175 243 391.5
Final year 20to 952 0 fl 952
® MAuumd 7." on de. <uaeni olreuno a provI*d by mmreld(advlbr. (a
We of RsNrement 000)
Total aebi
PdnolpalAmount Due (foci, hew Issue) ~r %
In 5 years $11,620 29,2
In 10 yea" 24,74.1 .57, 2
i l ~ r S 11
•
f
4 Revenue .iuty 29, 38
Denton, Texas
Debi Service coverage (S 000)
I.astMear FY Ended
A_ v 9/30/87
Net rcvenuvs - $16,101 514,134
tWimalcd tkak relluilenjurllss
Prtneipal and Interest ($5;115 in 19(fl) 2,12x 239x
seCurlfy 13ondSocurity: Purity first lien on net revenues of System DeseripNont
provisions: utility system; pfus tiny additional revenues EWMC; Comprised 85% of operating revenues In
expected to be uviiibblc to the city on a regular fiscal 1987. City owns and operates five natural gas.
periodic basis, fired generating units. City also member of TMPA,
Flow of funds; srandard, opco loop: (1) current a joint power agency created in 1975 with Oarland,
expenses; (2) lutcitsl and Sinkhrg Funds; Bryan, and Ureenvllle. Muh city unconditionally
0) Reserve hand; (4) L?xteoslun and Improvement obligated to make pro late payments, if necessary,
Fund (unnuid deposits of 8% adjusted gross rave. to maintain required amounts In the Agency's
noes); (5) Fntcrgency Fund; (6) any Inwrul purpose Bond, Reserve, and Contingency Funds, Denton's
(charter pcnufls Imnsl'cr of 6% of net equity, to 1988 share of TMPA Is 21,8'%, TMPA operates
General Fund). Oibbon's Creek, a ligrtlie•tired plant which began
RoteCovonant; Acceptuhle, SUItlcletu to pay commoMal operation In October, 1983 and recent-
uperaiuus and rwdrdctmnco; mid to cover 1.25 ly sold a 6.2r% interest in Comanche Peak Nuclear
boas average annual dchl serulco, or 1.25 times Plant, back to Texas Ulllities, The city plans to
avcmgc animal dchl service, or 1,25 riures.soc• construct a 3,000 KW hydtoeleetAC unit on Lake
cccdlog year's deal service, whichever is grouter. Lewisville and a project to develop 1,000 KW
ResetveRequlrom<mt: Adcquine. $1.0 mfliion or hydroelectric lurbine on Ray Roberts Reservoir,
maximum annual dubs service, whichever is less, Woter/Wastewateft City provides retail and
except thin Ibllowing Issue of those bonds, reserve wholesale` service to the city and surrounding area.
shall be uveiogo annual debt scrvlee providing If Is City hat rights to 4.6 MOD fmm Lewisville keser.
not less Ilona $10 million if miaxhntrnt dart service voir and purchases remainder from Dallas. Cor.
exceeds $10 nnHlion. This reserve rg0iremew renlly under construction Is the Ray Roberts
must be 4nrded on i.c,uance of the bonds; however, Reservoir In conjunction with Dallas, City present.
on Issunueo of additialwi !wilds, the resolve must ha ly has 5 MO ground storage and 4,36 MO elevnied
funded over o pcatod ol'tivc years, storage. Water treatment capacity presently 24
Addlllonolfndoblorinoss: sngsruclury, provides MOD with current expansion program raising
•
that pledged revenues (ul' next preceding tisrul year capacity to 30 MOD. City also operates nclivaled
{
or 12 Cunsecmive mmjllis oul of preceding IN sluge wusle,valer treatment plant with 12 MOD
months) are ell I.2.5 times uvemge annual debt capacity,
service, and (2) 1.10 tines mn.ximuan debt service, Hlsloficol and Projected System Usage: City
The mayor, city xeciclnry, and inalCpendcln CPA revises consumption projections annually. Howev
must certify tlnu ell Condilions tiro mci, er, recent projections Indicate no adjusimenis main.
AuRiorized Invostmonts U .S. govunmepl secur• IY chic to Iowa than expected energy chemical
experienced in 1987, reflecting the soleness In the 0
hies, ll,s, guvrmrncni qwcy sccuntlcs securities
gooroutccd or insured by ilau full rnidr m:d credit of area economy, Water ptojections lowered,
the U,s., and w hicato.s o1' deiNrsit or tltuc delwsiis
secured by the alxrve.
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Rewnw July 29, 1958 5
Denton, Texas
DeMOn Milty System (f ocat yeon ended 9/30)
1982 1983 1984 1985 1986 1987
Water consumption avenoo, '
dally (MO) 7.0 7.1 .9 II).,) 103 1O,6
Maximum day (Mil) 15.0 17,4 21,5 2019 2218 6
Pleclrfu consumption (gWh) 500 306 378 (131 67,1 (111
Peak load (mW) 133 140 133 162 173 169
Custcmers 19,563 20,269 22,333 26,280 27,796 26.796
(n5ant; Ofnkal Suitincribrailr rrlikls6,
Denson L"lly System (fiseol years ended 9/30)
Rslorlcal O Projecled
1988 1989 1990 1991
Water consumption average dally (MO) 9,2 ^ 9,4 Io,711,:4
Maximum Day (MO) .
1?.leclrlo consumption (gWh) 186 817 930 876
Ptak load (mW) 187 194 202 208
Rates: Electric rates vary between May to W- ober iotahatl fir~ The average rosIdenhal churgo in 1987
and November to April wlih the last rule adjust- wits $f1,77AWls. In March 1987, dw city Increased
mend March 1991 designed to reflect more uccu• wamewaicr chargex, while water rotes la vrvmcd in
lately different costomor classes, City adjusted 5aptent6cr 1987; by 8%. Ouror oily caattntcrx
electric base rates downward in May and July 1986, charged I MM, In-oily rotas.
adminwtfatlvo FOMI`GIOvemrr)enl, Five-member public utili by dw Tbxox Munklpal Retirelrwni Symon
fcrcton! ties board appolnied,by city council, supervisex the Iimployces contribute K city canulhu(cs'S,ryS
departm;utt of public utilities. of gross pay, Vested beneftis astir Meember 31,
PuUloEmoloyees employs approximately 200 1986 were $10,5 ntillloo with an unfunded Ildbillty
for electric, water, and sewer operations, Alf felt of $2.1 million TTw city'x total fi.mid 1987 eonthbu.
time eligible employees except firefighters covered don was $ I millntn,
e00MOM10 ServlceArea; City shows continued growth, meat (if Toxus Woitxn's Unlverslly and Noah
faotont while only half developed Diverse economic base Texas ShltO Unlverslty upproximalOy 10,(Xx),
with numerous manufaetuiing plants and two uni. which skews socloeconomle indicators.
versltles, which provide siablllty, Combined unroll.
w `
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6 Revenw July 29, 1988
Denton, Texas
Populallon and Housing ChoroCtlitr3etlcs: O"ton
b,toto US,
1970 1980 m 1980 1980
Popukrtion C7 -
Median ago 2213 24.9 2719 3010
I/Oschool live mil 15.4 21.1 2019
I* Woik€np age 68.0 70.4 60.9 60,7
% (IS and over 6.8 815 9.6 1113
No, perwnsRxalsebold 313 2.4 218 2.75
Income:
Median family income $9,092 $20,630 $10,237 $19,908
lib below ptweriy levot 11.2 14,1 14.4 t2.5
Per capita Invi nw $2,793 $7,247 $7,133 $7,313 -
Housing:
% ownor occupied 31,2 46.1 61.2 64,4
ry- built before 19:19 915 11.1 2611
Ye built silwo last census 40,2 Al 30,3 25.9
Owner occupied median value $17,296 $49,040 $301"0 $47,300
Median gross rent $104 V38 $245 $243
Occupied housing units 11,896 M 17,522
smw a.. Cel"I WNW.
m uioi m mpu whrt ar.w.m bi IYW uW 4Np611a I'1M3,
a] 197(1 WJ %'m*C
wNwin are fat ,itht *4h mmwkwi immer than tepnf la SumhwM alOW.
financial Recent flntawnd stutcntents show u satisfactory for purchased power duo to recent settlement by
factom Ilnunciul siilon largely the result of modefttlInB
W TMF'A to sell Its shatre in the.s;twmsirlche Pak
luel costs, flebi survive (:overage has declined some. Nueiew Protect to Taxis Utilities,
Projections ruviaed to mllcxr mare slower Increases
s a,
P~ - M• wo War l_S'( q'~9F In - 1 i
y ~~,+tit tiN ~l yti+,~ cii~~,l~tr qtr ~11, r, ~t 'li
• i'~ S t+t~12 +?'l ,s ~t 1tf,t,P~~F4~~"~~~~~~'!,{MiA~~4~~~~~t~i~,.~}~~t~tlta~;~~ly~t'~~~~`.
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Denton, Texas
FN►anokd Podor um* Mwed /ya3 &1Wd 9/30 $ 000):
i
Hisroftcal--
1985 1986 1987 1988 W 11998,9oJectesd 19W 1991
@lecttlc $57,921 S64,2116~ $62,123 W$66,M17 01565,852 61$I41AI6(0$76971
Water and
i
wastewater 91307 9,267 11,81X, 14,744 15,992 17,X2) 172116 i
Other 314 3S 192 - X165 1;971 2,091 2119 {1
Operating `
revenues $67,542 $7111508 $1.1,12! $9.1,116 93,921 $88,2M0 $92,397
Oroes revenue
and Income 69,8.12 75,760 74,069
Prochase of
Fuel wer 38,090 46,461 46,588 49,131 1047,1110 174+1,616 (il5t1.8.1.1
51306 2,117 1,397
All other 8,799 (0,527 12,b5f1 19,399 21,721 21,711 21,1Mu
Tots! O & M
expensesM $52,185 s39,258 $.91,1135 $67„520 $69311 $71,147 $7,1,8!91
Net revenues 11,667 16,502 14,134 15,7% 14,270 16;742 IM,3,tl
Interest 3,901 3,862 3,428
Principal and
Inlaost 5,946 5,882 5,448 5,537 6,270 71705 ' 91317
Trutafor to
General
Fund CU 4,641 4,616 4,987 012,719 U12,187 [42;181 [73,!112
M'Mmfrn elelude 1&19nhlrWirc expend Lkumd by pa%oll gnv"41" ,gkwl,r ftov'k(l as U A M.
m Source; Of ictil Suwvq,
6)Ineluda nrund 6M 1MPA4
M aah,walwe of Power r i of fuel.
key RaHor,
Hlstorl4 od - - M Ro)ocfecl
almoam '1485 M' 1987 1988 1980 1490 hd91'
Operating relEo.(~) 74.4 77,3 80,6 512 81.0 83.0 80,11 79,9
Net lain-down (9i) 27.9 2$,3 21,8 18.9
Interest coverage (x) 4.05 4.53 4.27 4.12
Debt service coverage (x) 2,41 2.97 2,81 2,54 2,85 2,711 2,20 1!M)
Debt service sefety margin (96) 17A 16.8 14.0 11.6
Debt ratio 42.9 35.6 113 30.4
MPlkUk aenuedna end Ieuumlulon ,yrkro,.
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Denton, Texas
6olanc► SAeif Data ducpl y~dra q/30 b 000):
1985 1966 % Change
1987 1985.86 198687 j
Qross Ned assets $1 12,304
$124,108 S132,378
Net flied aswfs 70.695 24, 10.5 6,7
.3 3.1
Net working cupilul 33,824 32,696 3183,021 7 1.7
LonB•Inmi debt ,640 33 3.2
lkbl Strvico Reserve 4l,88tl 39,870 40'173 .4,8
=2.8
and Debt Service
punfslQ 4,657 5,1 f2
No t'undvd debt 37,231 6,163 9.8 20,6
o1Nei "racmd Weft" NYC , 34,75A 34,812 .6.6 012 -
49304~0Z ■
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ULBFtIOHT G72 JAWORSKI
22oo Ross AVENUE
.SUITE 2Aoo HOUSTON
WASNINOTON,O.C.
DAk.LA5,TEXAS 78201 AUSTIN
SAN ANTONIO
TELICPHONC' 211/898.8000 OAUAS
T CL EC OAI E R: 211/846.9200 LON 00N
ZURICH
FUL9RIONT JAWORIKI S1
RCAv18 MOORATH
New VORK
LOS ANOCLE8
May 30, 1989
i
;j
Mr, Charles Hinton
City Attorney 41
City of Garland
P. 0, Box 469002
Garland, Texas 75040
Mr. Bob Andron
City Attorney
City of Bryan
P. 0, Box 1000
Bryan, Texas 77805
Ms, Debra Drayovltch
City Attorney
215 E. McKinney 5t.
Denton, Texas 76201
Ladies and Gentlemen:
This letter is written to you at the direction of the
City Council and Electric Utility Board of the City of
Greenville, Texas, in our capacity as bond attorney of that
city.
We were asked to reviuw the existing contract between
the
xas Cities of Bryar„ Denton, Garland and Greenville and the
Now Mexico Company _(the NTNP :Contract ) to determine if
'
it woc;td cause the interest on bonds of the City of Greenville
to be subject to federal income taxes, A copy of the TNP
O Contract is enclosed for your convenient references
The Impact of the internal Revenue Code of 1986
(in Powpr Contracts
The use of the electric energy furnished pursuant to a
contract to private persons, constitutes "private business" use r ,
of the city's electric system under the intornal Revenue Code
16240 -
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Mr, Charles Hinton
Mr, Bob Andron
Ms. Debra Drayovitch
May 30, 1989
Page 2
of 1986, as amended (the "Code"), Contracts of this nature
could -cause interest on all or a portion of the city's
outstanding obligations issued for electric energy purposes to
become includable in gross income (ire, the city's outstanding
electric system bonds, particularly those issued after
August 31, 1986, could become taxable, if such a contract {
violates the guidelines discussed below). Additionally, the
city would ' be limited in its ability to issue tax-exempt
electric system revenue bonds during the term of the contract.
Unger the Code, an issue of bonds is an issue of private
activity bonds (the interest on which may not be excludable
from gross income) If—
(1) an amount exceeding 10 percent of the proceeds is
to be used (directly or indirectly) in any trade or business
carried on by any person other than a governmental unit, and
(2) more than 10 percent of the payment of principal
or interest on the issue is to be made (directly or indirectly,
and whether or not to the issuer) with respect to such a trade
or business use of the bond proceeds, or is otherwise secured
by payments or property used in a trade or business.
Under the Code, the use of bond-financed property is
treated as use of bond proceeds, A person may be a user of
bond proceeds and bond financed property as a result of. (1)
ownership or (2) actual or beneficial use of property pursuant
to a lease, a management or incentive payment contract, or ,(3)
any other arrangement such as a take-or-pay or other
output-type contract, Use (including use as an industrial
customer) on the same basis as the general public is not taken
into account, However, trade or business use by all persons on
a basis different from the general public, such as pursuant to
any type of separate contractual arrangement, is aggregated in
determining if the 10-percent threshold' is exceeded,` All of
these "private business use" contracts are counted together to
see if the 10% threshold is exceeded,
•
In a contract such as this one, th9 measurement of
private business use generally is the amount of power
(including optional power) which may be supplied under the
contract divided by the nameplate capacity of the electric
system. Pot oxample, the contract calls for the provision of
90 megawatts during 1990. if the nameplate capacity of the
City's electric system is 450 megawatts, the "private business
use" is 20% (90/450),
4 6240
e
Mr. Charles Hinton
Mr. Bob Andron
Ms, Debra Drayovitch
may 30, 1989
Page 3
The Code provides a special limit on bond financing for
output facilities'used by persons other than governmental units
or members of the general public. In the case of bonds,
5 percent or more of the proceeds of which are to be used to
finance output projects such as electric generation,
transmission, and related facilities, the maximum amount of
i
bond-financing that may be used by nongovernmental persons on a j
basis other than as a member of the general public is $15
Million, Thus, with respect to any such issue, the amount of
bond proceeds used, by such persons may not exceed the lesser of
10 percent or of $15 million of the proceeds, In determining
whether the $15-million limit is exceeded, all prior bonds
issued with respect to a project (including bonds issued prior
to the 1986 Tax Reform Act) are counted.
Although sales of power to investor-awned utilities
pursuant to output or requirements contracts are 'counted for
purposes of the private business test, certain power pooling
and exchange arrangements and certain spot sales of output
capacity are treated as sales to the general public, Under
this special exception to the special limitation relating to
output facilities, the presence of a nongovernmental person
acting solely as a conduit for exchange of ;power output, among
governmentally owned and operated utilities is to be
disregarded in determining whether the private business test is
satisfied. In addition, exchange agreements that 'provide for
"swapping" of power between governmentally owned and operated
utilities and investor-owned utilities do not give rise to
private business use where (1) the "swapped" power is in
approximately equivalent amounts determined over periods of one
year or less, (2) the power is swapped pursuant to an
arrangement that does not involve output-type contracts, and
(3) the purpose of the _agreements is to enable the respective
utilities to satiafy differing peak load demands or to
accommodate- temporary outages, Additionally, spot sales of
excess power capacity for temporary periods, other than by
virtue of output contracts with specific purchasers, are not
treated as private business use of bond proceeds. For purposes
• of this exception, a spot sale is a sale pursuant to a single
agreement that is limited to no more than 30 days' duration
(including renewal periods).
The foregoing discussion is only a general description
of the detailed requirements of the Code relating to private
business use, As bond counsel, we are concerned about the
potential ramifications of the contract with Texas--New Mexico •
and other similar contracts, both with respect to the city's
4Atan '
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Mr. Bob Andron
Ms. Debra Drayovitch
May 30, 1989
Page 4
outstanding bonds' and future bond Iaauas,, Because this
contract does constitute "private' business use" under the Code,
it has the potential of causing serious problems,
TNP Contract
The amount of the Base Power plus the Optional Power
expressed in megawatts, divided by the nameplate capacity
expressed in megawatts, should not exceed 10%,
There may be a significant problem, however, since the
contract does not, make any provision; for apportionment of the
duty to providethe power being purchased, so it would appear the liability on the cities may be joint and several, Schedule
1 shows the Base and Optional power starts at 95 MW and rises
to 90 Mw.` If the liability is joint and several then each city
is obligated to supply all of the power and the question (under
the 1986 Code) is whether that amount of power is more than 10%
of a particular City's nameplate capacity, it is not
appropriate to consider (1) the aggregate nameplate capacity of
all of the cities as a group or (2) the nameplate capacity of
TMPA.
It is assumed the `cities were contemplating dispatching
requirements under the contract on an economic dispatch basis,
and thus appropriate restraints could be established to cure
the problem. If the 10% limit were to be exceeded, then Lt
least during the term of the contracti
(1) a city could not issue obligations payable
in whole or in part from the net revenues of the
electric light and power system;
(2)' a city could issue obligations payable
solely from taxation for electric light and power system
purposes, as long as payments by Texas-New Mexico do not
exceed 10% of the debt service on the bonds)
• (3) each city has existing bond covenants and
tax certificates and you may wish to review those to be
sure no event of default has or will occurr by reason of
the Contract,
If a problem exists or may exist in the future,
consideration should be given to any of the following possible
solutions:
4azeo
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sir.,. ..i•i 1~P .°-i~a~ J i3~YfP I}11t~fk1
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Mr. Charles Hinton
Mr, Soh Andron
Ms. Debra brayovitch
May 30, 1989
Page 5
N an apportionment among the cities of the
"duty" to provide the power, so the liability is not
joint and several, with such limitations as may be
required (together with instructions to the dispatcher
to follow the guidelines);
(b) establishing rates and charges in the rate
structure of each city so the investor owned utility is
a mere customer of the city (and the cancellation of the
contract which provides services on a' basis not
available to the public generally) if the public meets
the critoria established in the rate ordinance.
We have been advised that Article VII of the TNP
Contract was intended, in part, to accomplish the purposes' of
(a) above, but it is the writer's feeling it was not artfully
done.
With the assistance of Gailord Whlte who has been made
aware of the
potential problems, a draft of step one in a
potential fix is enr,losed for your review. It is requested
that,
(1) You examine the TNP Contract and
determine whether you feel there is a possibility a
court would hold the liability to furnish power by
the Cities is joint and several,
(2) Consult with the director of electric
utilities or° such other parsons as necessary to
determine if there is agreement the enclosed draft
of the instrument will help "fix" the problem,
Insofar as the City of Greenville is concerned, it is
felt a problem may exist and a "fix" of the probib,r needs to be
undertaken with all `deliberate speed, A_ report on your
findings at an early date would be appreciated,
if you would send me a copy of the ordinance,
reso M.lon or minute entry whereby your City Council authorized
the execution of the TNP Contract, I will endeavor, at the
proper time, to prepare a form of 'document to authorize the
execution of this Contract, if that would be helpful to you,
a
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Mr, Charles Hinton
Mr, Bob Andron
Ms. Debra Drayovitch
May 30, 1989
Page 6
T would be happy to discuss the matter with you, if
that would be helpful, My direct line is (214) 855-8001).
Very truly yours
Elbert M. Morrow
EMM/ler
Enclosures
.
ca Mr. Bob Nelson
Mr, Bob Corder'
Mr. Dan 'Wilkerson
Mr. Tom barte`
Mr. Jim White
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MAY 9 11989
CITY OPT D N 70N
a424D LEGAL` u~PT,
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TNP/TMPA
AGREEMENT FOR SALE. OF POWER AND ENERGY
This Agreement is pursuant to and entered into this, the day of
Z. , 198-9by and between the Cities of Bryan, Denton, Garland, and
Greenville, Texas '(hereinafter Cities), all municipal corporations organized
under the laws of the State of Texas, and Texas New Mexico Company, a Texas
corporation (hereinafter TNP), This agreement is entered into in compliance_
with and satisfaction of all terms and conditions either express or implied
of that certain contract dated July 7, 1986 as amended December 19, 1986.
W ITNES SEAN i
Whereas, Cities own and operate municipal electric systems which have
generation in excess of that necessary to meet their load and reserve
requirements and other contractual requirements for the period of this
agreement and,
whereas, TNP operates an electric system which purchases for resale power and
energy from other utilities and,
•
whereas, TNP desires to purchase from Cities power and energy and,
whereaa, Cities can and do agree to provide such power and energy,
+~.i...+furSu'v A xh^•. ) ~ ` i Zr 4 T W A
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Now, therefore in consideration of the premises and the mutual covenants
herein contained the parties hereto do hereby agree and bind themselves as
follower
DEFINITIONS
Base Power - the firm power contracted for in any given year as shown in
Schedule r, which when multiplied by the base price for that year establishes
that annual contract fee.
Optional Power - additional power purchasea which may be requested at TNP's
option in addition to the base power contracted in amounts up to those as set
forth on Schedule 1. optional power is as set forth on Schedule I and shall
be paid for by TNP in amounts as verified to TNP by the cities.
Request for Changes in Power - an indication by TNP to the cities requesting
an increase or decrease in scheduled power amounts by means of oral and/or
written communication inclusive of telecommunication signals of
telecommunication devices installed on TN'P'e Pointe of belivory'.
ARTXCLE I
1.1 The Cities agree to provide and deliver and TNP agrees to accept hbring
•
each year of the tam of this contract amounts of base power as shown In the
attached schedule I. The Cities further agree to provide and deliver such
optional power as is set forth on Schedule I which optional power may be
A requested at TNP'a sole discretion. The base power and any optional power • •
shall be provided and delivered at TNP's sole direction to one oe both of
TNP's metering points with Houston Lighting c Power in TNP's Southeast
N?-
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Division at n level of firmness equal to dities' native load and the Texas
Municipal Power Pool load, Cities agree to provide power and energy up to
the levels as not forth on Schedule I to TNp during the term of this
contract, Requests for changes in power and energy may be made by M
through oral or written communication from TNP to the Cities' dispatch
center, Oral requests shall be confirmed by written confirmation within 24
hours. Actual use of power by TNP over and above base power amounts shall be
,
scheduled orally or via written communication and shall be billed after the
amount of power has been verified by the cities with HL&P at the end of the
month in which the power was taken, Verification shall consist of
documentation that reflects power delivered by Cities that is in an amount
equal to the remainder of power in excess of all power delivered to TNP by
it's other :uppliers.
Requents for changes in power and energy by IMP shall be made at least
12 hours in advance. Cities will make all necessary arrangements for
wheeling of power from its generation source to IMP's metering points.
The coat of wheeling is included in the delivered ` price of btsee power and
optional power as set forth on Schedule It provided, however, that the price
paid by TNP for base power and/or optional power shall not be affected or
changed by actual costa of wheeling experienced by T"A during the term'8f
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this agreement or any extension hereof under this Article,
1.2 The cities agree to provide documentation to TNP prior to December 1,
1987, (a) that there is sufficient transmission line capability in the ERCOT
• facilities to aoeommodate the bass power and optional power deliveries • •
expected to occur under the terms of this agreement and (b) Cities are able
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to negotiate satisfactory arrangements for 'the transmission services for the
terms as contained on gchedule 1 by third parties contemplated in Paragraph
1,1 This contract shall become null and void if the Cities are unable to
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provide documentation to TNP's satisfaction that contractual arrangments have
1
been made by the Cities and the nooossary affected parties to insure delivery
of the power energy provided for in this agreement, If at anytime after
December 1, 1987 the Cities cannot deliver power and energy as provided for
in this agreement because of the failure of Cities to comply with either (a)
or (b) above TNP shall have the option of cancelling as provided for in
paragraph 6,2, Any determination by Cities that they will be unable to
comply with either the requirements set forth in (a) or (b) above shall be
transmitted in writing to TNP no later than three days after the
determination is made,
1,3 The Cities also agree to make available and TNP to purchase, at TNP'n
option, additional amounts of power up to the amounts shown in the optional
column of the attached Schedule I, TNP shall provide an initial nonbinding
notice of intent to request ` Optional amounts of power ;or each year on or
before the dates indicated in Schedule t and shall make a firm
request for optional power by the dates indicated in Schedule 1,
' A
1,4 TNp may extend this contract one year beyond May 31$ 1991 by submitting
a written request for extension prior December 10 1989, The base power and
optional power prices for the extension year shall be the same an set forth
b In the contract year beginning may 31, 1990 es set forth in schedule I.
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ARTICLE 11'
TERM
2.1 This agreement shall become effective at 12101 A.M., December 1, 1907
and tarminatee at I11S9 P.M. May 31, 1991 unless extended in writing pursuant
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to Section 1.4 of Article I. i
ARTICLE III
COMPENSATION FOR POWER AND MER01'
3.1 in consideration for Cition providing and delivering this capacity, TNP
agrees to pay for the amount of base power shown for that year in Schndulo I
at the price also shown in Aehedule 1. Thin price is inclusive of all
wheeling cost referred to in 1.2 above and as conditioned in 1,1 above.
3.2 TNP also agrees to pay $10.00 per KW per year for any year of the
contract term beginning lune 10 1909 for which TNP provides a firm request
for optional power, Thin payment shall be known as the reservation fee and
shall be paid to the Cities at the time the firm request for optional power
is made. Any reservation fee paid for optional power for a contraot year
shall be subtracted from the price for optional power actually taken in the P,
contract year, Requesta shall be made a minimum of 6 months prior to the
Cities obligation to deliver. In the event optional power that has been
requested is not taken in the contract year for which it was reserved, the
reservation fee shall be held by the cities as liquidated damages and the
Cities agree that they will not be entitled to further damages.
b
In the event TNP elects to nominate an amount of optional power to be •
Taken in one of, or any, or a combination of the preceding years, then that
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amount of optional power cannot be dibplacad by purchases from altarnata
auppliera. Nothing in this paragraph shall be construed to prohibit TNP from
making the necessary purchases to fulfill its obligations to its customers.
3.3 TNP agrees to pay $75/KWyr for all optional power actually taken which
is granter than the base amount of power for that contact year. The Imount
of optional power greater than the base amount shall be determined by the
following formulae
d,
A. Total TNP Southeast Divisions Peak loads
Least n. Total TNP suppliers load inclusive of
base power from the cities at the time
of peak period in A above and any
standby purchases made by TNP.
optional power actually taken and
to be multiplied by optional power
rates on schedule It
In any given contract year which the cities provide and deliver, and TNP
aorepta, more power than the base amount eat forth in Schedule S for, that
contract year, THP agrees to pay the Amount per KW a$ got forth for optional
power in Schedule t for that contract year multiplied by the amount
determined in the above formula. The power accepted by TNP beyond the base
amount for that contract year shall be considered optional power foV hat
contract year whether or not a firm request for delivery of optional power
has been received by the Cities.
3.4 On or before the 15th of each month during the term of this contract,
the Cities will supply TNP with a rate por KWH for fuel and energy (acmbinedS r 0
which will apply for energy dalivored in the aubsequent calendar month, TNP
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may elect to purchase enurgy at thin price in amounts ranging from rero up to
a maximum of the bane power plus any optional power requested for that
calendar year.
ARTICLE IV
PAYMENT TV*15
A,1 cities will invoice TNI+ for all power and energy delivered by the 10th
of the month following the month of usage under Article I of this contract
with payment being duo and payable by the 2$th of that month, The wonthly
rate for power shall be calculated as 5ollowet
)
Monthly Rate u 1/12((A x 8) + (C x D)j
whernt
A « Hase amount. of power for that contract year
e a Price per KW for base power in that contract year
C o Optional amount of power for that contract year
D r Price per KW for optional power for that contract year lose
Reservation Fed
,
During the 12 months in the year 1989, the Cities shall apply a credit in
the amount of $39,375,00 per month to the above formula in compliance with.,
the amounts due pursuant to paragraph 3.4 of the contract between thn parties
dated July 7, 1986 as amended becamber 190 1986. Tho formula as applied in
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1989 shall be as fcllowst
Ponthly rate 1/13 ((A x 8) + (C x b)1 - 6994175,00
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The partios recognize that the amount of optional power in C may not be
identified by the 10th of each month, In such cases a separate bill for C
power will he provided at a later date. The monthly rate for power will be
adjusted as indicated in 3,2 above. Optional power taken will be billed for
the 12 month period following the month in which it was taken according to
the price as 4iet forth in Schedule I as applied In the above formula in
Section 3,4,
ARTICLE V
COWINUITY ON SERVICE, FORCE MAJ'>=URF
6,1 Each party will exercise reasonable diligence and care to avoid
interruptions of delivery of power and energy, hereunder, but will not be
liable for any damage or lose that may be occasioned by any failure or
interruption caused by fires, floodn, lightning, atorma, or other aoto of
(Jodi or by strikes, riots, civil disturbance, action of public authority,
litigations, breakdown, or other causes beyond its reasonable control,
ARSICGI: VI
REMEDIES POR MACH
6,1 In addition to and not excluding any remedy herein provided, it is
agreed that if either party fails o perform any of its obligations
hereunder, including the prompt payment of monthly bills or delivery of
electric power, the injured party may suspond payment of bills or delivery of
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energy hereunder# and said party will not be liable in any manner for loss of ;
damage arising from such nonpaymaitt or auspenslon, provided that the injured
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party nhnll specifically notify the other party of such failure in writing at
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least ten (10) days prior to euoh sunpension or nonpayment, No ouch
r,unpension or nonpayment will intorfero with the enforcement by either party
of any other legal right or remedy. No delay by either party in enforcing
any of its rights hereunder, and no waiver of any right to enforce any breach
horoof, will be deemed a waiver of such righte, No waiver by either party or
any delay by the other party shall be deemed a waived of any other or
nubeaquent default. All rights and opClons herein are provided to the
benefit of either party and are continuing such that a failure to exercise
any such right or option shall not be construed as waiving the right or
option upon any subsequent delay or breach whether of like or different
character. In no event shall this Article V1 apply when the event of default
is the failure f,o take renewed optional power as set forth In Article III
with the sfdception of the 20 MW act net forth in paragraph 2 of Schedule 1,
6.2 Nothing In this agreement to the contrary withstanding, it in sxpresaly
agread that should Cities fail to deliver base and/or optional power as
contracted for by TO, and it. is the result of the Cities failure to perform
and such failure occurs in a peak month as defined in that certain purchaseds,
power agreement between TO and Houston Lighting and Power Company (H1,01 !
and such failure causes a new and higher demand to be placed by TNP on the
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NLLP system, then in ouch event, and in no other, TNP will have the 0010 and
exclusive option to cancel the terms of this agreement and have no further
obligt.tions to the Cities hereunder. In the alternativ,l TNV may c6ntlnu0 to
® take base and/or optional power from the Cities at ,t level to be determined •
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by THP for the remaining terms of this agreement. Also in such event, the
Cities agree to reimburse TNP for prior billings from the Cities in an amount
nqual. to any demand paymeilt TNP incurred over and above monthly levels oi;
demand payments incurred had the cities not been a supplier during the
particular contract year, Such reimbursement of demand payments shall be
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limited to those` incurred during the year in vhieh the failure to deliver
occurred. A peak month is defined as being any month or a part thereof
between May 15 and October 15 of a year, Should cities be unable to make
delivery of power an described in this agreement for reasons not within their
control, TNP shall have the same option of cancellation and base power
adjustments as described above. However, in such case the cities shall not
be obligated to make a refund or reimbursement, This article shall in no way
relieve TNP of the responsibility to properly schedule power to each of its
metering points with ALSP to prevent a new demand.
ARTWLE VIi
Cities reserve the right to assign portions of this contract -retiponsibility
to another member of the Taxes Municipal Power Pool, provided however that
such assignment shall be subject to the same terms aad oonditionb contained
In this agreement unless modified by agreement in writing by TNP and the
M assignee. cities agree to notify TNP of the appropriate parties reeponsibla
for any requests in change of power on a regular basis,
ARTICLE VITT 0
This contract and its terms and conditions shall be interpreted in acoordanoo
with Takao law, as applied and enforced by the PUCOT through their
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regulations,' and shall. become null and void if any or all of the terms and
conditions are not, approved by order of appropriate regulatory authorities.
The parties recognize that each may have obligations to the other under
Article 3.3 of the 1986 Agreement for Sala of Power and Energy by and between
TNP and the pity of Bryan. In the avant of regulatory disapproval of this
contract, those obligations, to the extent they may exist, will continue. In
the event Municipally owned Aystams become regulated as to their contract
terms and ratan by an agency of the State of Taxaa, it is agreed that no
tariff requested by the Cities will include a term that provides for payment
for base or optional power beyond the term of the contract. because of a
minimum or ratcheted demand, in the event such a term is included in the
tariff by the regulatory agency, then this contract shall immediately become
mull and void at TNP's option,
in the event municipally owned systems become regulated as to their
contract terms And rates by an agency of the state of Texas or any government
and such agency or regulatory authority imposes regulations that would modify
this agreement, TO shall have the sole might to terminate immodiately upon
effective date of such regulatory order,
TNP may, with the agreement of the Cities, rudify the terms and
conditions of this agreement to a ftirm necessary to acconmodate,TNptatplane
to make firm economy sales to its industrial customers. The Cities also
agree, aubjart to transmission access and arrangements with third parties, to
deliver the firm power as described in this agreement and met forth on
Schedule 1, as attachad, to alternate points of delivery as described by TNP
The afore-referenced agreement by the Citioa may not be unreasonably
withhold,
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All notices and other communications' required or permitted by this
agreement except as otherwise specified shall he sufficiently given by
certified mail, return receipt requested as followai
To the City of Bryan:
City of Dryan
P. 0, Box 1000
Bryan, Texas 77805
Attmi Mr. Ernest Clark, City Manager
To the City of Dsntoni
City of Denton
215 E. McKinney 8t,
Denton, Texas 76201
Attnt Mr, Lloyd karrell, City Manager
To the City of Oarlandi
City of Oaxland
P. U, Box 401889
garland, Texas 75040
Attni Mr, James Spore, City Manager
To the City of OYeenvillat
City of Oreenville
P, O. Box 1049
Orrenville, Texas 75401
Attnt Mr, Bill Cook, City Manager
* To "P r
Texas New Mexico Power Company
Attmi
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Signed by the parties hereto on the dates acid year first written above byr
Approved as to Fbrnu City of flryan, Texas
eyi
! t<t to ney4-'
Titlei
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Ztyiecreta Attested byi
city of Denton, Texas
Tltler
Attested by:
City of Garland, Texas
Sys b
Titlai +vl AN .
Attested bye
City of areenville, Texas
Bye 6L-:~ . '
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Title
Attested Pyi
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Taxas-New Mexico Power Company
BY i Jwe v e:,zl ~
Jac V, Chambers
Titles Vlce president
Atteetod oy:
M cA
Blanchard
Corporate Secretary 6 Caneral Counsel
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SCHEDULE [
Notice of
1) Intent to
Tern I)ase Piro Request Request
Optional Reservatlon For Optional Optional
Beginning Porter/MW Price KW power/MW Price KW Fee KW
Power`. _
tun, 1, 1988 20 $75.00/Yr, 25 575,00/Yr. 110.00/Yr. Feb, 1, 1988 ` Feb. 1, 1988
j
lun. 1, 1989 30 $75.00/Yr. 30 $75.00/Yr, $10,00/Yr. Oct. 11 1988 Feb. It 1988
lun. 11 1990 40 $75.00/Yr., 50 $75.001Yr, $10.00/Yr, Dec. 31, 1988 Oct. it 1988
luM. 1, 1991 30 $75.00/Yr. 60 515.001Yr. $10,000r. Dec,' 310 1989 Oct, it 1989`
)plan Year
)un. 1, 1992 0 $75.00/Yr. 30 $75,001Yr. $10,00/Yr. Dec, 311 1990 Oct. 11 1990
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Y
Agreement with respect
to TNP contract
This Agreement is made and entered into as of the
day, of June, 1989, by and between the Brazos Electric Power
Cooperative, Inc, (Brazos) a cooperative association formed
under the laws of the State of Texas, and the City of Bryan,
the City of Denton, the City of Garland, and the City of
Greenville, each of such cities being a home 'rule city under
the Constitution and laws of the State of Texas (collectively)
'
the "Cities").
The parties hereto agree and contract as follows;
Section 1; This Agreement is the exercise of the
right reserved by the Cities to assign portions of the contract
responsibilities as reserved to the Cities and as 'contemplated
by Article VII of that certain contract by and between the
Cities and Texas New Mexico Company (TNP) dated as of
February 16, 1988 (the "Power Contract").
Section 2, Brazos agrees to accept the
responsibilities of the sale of power and energy to TNP under
the Power Contract during the time such contract is in force
and effect, but the acceptance of such responsibility shall not
be construed as lessening the responsibilities of the Cities,
as a group, to supply the power and energy to TNP under the
Power Contract, Brazos and the Cities (collectively, TMPP)
shall share in the revenues received under the Power Contract,
Section 3, Brazos shall render statements for the
firm power and energy charges which may accrue under said
contract to TNP in accordance with the terms of the Power
Contract, Complete and necessary records of all sales of firm
power and energy under such contract and all actions taken
thereunder by the pariea hereto shall be maintained by Brazos,
The Cities have made An arrangement with the, Texas
Municipal Power Agency (TMPA) to provide for the wheeling of
A such power to the point of delivery to TNP and the cost of such
whoeling shall be paid to TMPA from the amount received from
charges for firm power, The balance received from TNP under
the Power Contract shall be allocated among the members of TMPP
as set forth in this Agreement,
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Brazos shall determine the allocation to TMPA and each r
member of TMPP of the amount received from TNP for firm power
and energy sold to TNP by Texas Municipal Power Pool (the
parties hereto, hereinafter referred to as "TMPP") in
accordance with the terms of this Agreement, payment of the
allocated amount shall be disbursed to the entity or entities
entitled thereto within seven (7) days from the receipt of each
payment from the TNP.
O'oction 4, Income from the sale of firm power by TMPP
to IMP under the Power Contract shall be allocated to each of
the undersigned members of TMPP In a proportion to be
determined in accordance with the following methods of
calculation,
A. Firm Power;
The proportionate contribution of each member to the
sale of firm power to TNP shall be based upon the amount of
capacity each member has in excess of that, member's annual peak
load plus a fifteen (15%) percent reserve thereon, calculated
as a-percentage of the sum of the excess capacity of dill of the
members of TMPII for each calendar year the TNP contract is in
force and etfer,t, in determining "excess aapaoity", only that
capacity of a member which is usable and in commercial
operation shall be utilized in such computations. To be
included in determining the capacity of a member under this
Agreement, such capacity must be declared commercial and be
ready for commercial operation prior to the TMPP peak of each
year in which the Power Contract is in force,
A monthly disbursement of the firm power payments
received from TNP shall be made to the members of TMPP; based
upon estimates of peak loads, capacity and excess capacity,
with such estimate to be approved by the TMPP'Pool Committee,
At such f;ime as the member's actual peak loads have been
established, Brazos shall compute the variances between the
payments based on estimates, and payments based on actual
operating figures, and corrections for such variances shall be
reflected in subsequent disbursements,
N B. Energy Chargesi
(i) Energy - Upon receipt of payment from 1'NPO mrazoe
shall calculate the portion of each of such payments
attributable to energy revenue received from TNP "according to
the terms of the Power Contract, Such calculations shall be
made by Bravos so an to ensure that each party who furnishes
® energy to TNP under the Power Contract shall recover his fuel
coats in generating the energy supplied by it thereunder,
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(li) Line Losses Brazos shall account for losses
repaid in kind to others and allocate such lossas- to the
members in the same proportion as firm power revenues are
allocated,
Section 5. Any disagreement or dispute concorning the
administration of the power Contract or of the provisions of
this Agreement shall be resolved by submitting the issue in }
dispute to the Pool Committee' of the TMPV which 'shall resolve
such issue by unanimous agreement, if any such issue in j
dispute cannot be resolved by unanimous agreement of the Pool
Committee, members shall be left to whatever legal remedies are
available t4 them.
Section 61 Notwithstanding the foregoing, in no event
shall any of the Cities be required to sell an amount of
electric power which exceed the following,amountsi
M if the City has outstanding tax-exempt
obligations payable in whole or in part from the net revenues
of its electric system whlch are subject to the rules
promulgated by the Tax Reform Act of 1986 and the proceeds of
which were used to finance or refinance the electric system, an
amount during any calendar year not to exceed ley of the City's
nameplate capacity,
(ii) if the City has only tax-exempt obligations
payable in whole or in part from the net revenues of its
electric system which is subjeot to the Internhl Revenue code
of 1954 (prior to amendment by the Tex Reform Act Of 1986) and
the proceeds were used to finance or refinance the el,actric
system$ an amount nod to' exceed cumulatively 25% of the City's
nameplate capacity during the term of the tax-exempt debt.
If the City has no outstanding tax-exempt obligations
payable in whole or in part, from the net revenues of its
electric system, the prnceeds of which watt used to finance or
refinance the electric system, the limitations contained in
this section shall not apply.
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IN WITNESS WHEREOF, the parties hereto have executed
this Agreement On t:he'daY and year above writtenr
ATTEST: CITY OF DENTON
By
ATTEST: CITY OF GARLAND
ATTEST; CITY OF OREENVILLtl
By:
ATTESTt CITY OF BRYAN
RYt
BRAZOS ELECTRIC )TOWER
COOPPMTIVE, INC.
ATTESTS
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muni t~
dYs CI lCredIt Report
Denton, Texas
February 2,1488
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New Igau+a General Obllgallon/speolal Tax
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sale:
S31 00111M
General Obllpation Bonds, Series 1988 '
dWel For bids February 2
- ypp
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Moadyrl ra}ingi Al
opinion? Moderate IC`vels of rapldlp nmorllzed dcblure
supported by a diverse lax hose pravlding gosxi
security,
key }aolit Debt Burden: 2.9% Medlin Age, 1980: t
Payout, Ten Years: 72.Wo City, 24.9 years
Revenue as % of Source, Norms: 27.!> years
FY 1987, MedlanFamily Income,
Properly Tax: 45.7% as %of Stale, 1983 fit: 105%
Transfers: 22.1% Uneniplnyment, 10/87, t
Popufallonchange,1980.84IQ J,I% Clip 71%
Combined Enrollment, Noiih Texas County: 3,7^/,
Stele University and Texas Woman's State: 7,4,90
University, 19871 29,220 frond Aulhorltatlon Remalning: $14,5 million
UndWgnaled General FunJ Haiance ~l8smm~le.
as To of Expenditures, FY 1981t
I I I oJo
uW1a}et Since our report, datod June 19, 1987, audited revenues, The tax base grow by NO,', with a mloor
Onanciai results for fiscal 19131 lndiewed an tux rateadjuslmenl in fiscal 1988; ho+vever, sales
operating surplus Ilim moderately increased the lax collecllons decllned 6.79'9 front the previous
General Fund balance; operating transfers from the yen r.
Enterprise Fund remain a significant portion of
anntysbl located approximately 37 miles north of Dallas activity and declining sales tax collections, The
and Fort Worth, Dental has benefited signillcamly presence of a large state univte$kv with its
from the area's dlveraiAed economy, Cnntlnued Increasing enrollments provides stare economic
development in the resldentlal, commerclul, and stability, Unemploymenl, although higher In
Industrial sectors, as well as an Important Denton County, remains below the state avetoge,
11IM11uti0nal sector, hot led iosu%wined Ilex base The 0,610 lax base keeps debt hurden nnRlvrale.
91`014111, Howcver, the weako".i in the Tcxlu Puyaut remuins ropld,
x1vonnmy is reflected In e11y's sinwod hulldluti #
#MW
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2 General Obligotian/Special Tax February 21 10,118
f Denton, Texas
I
The current gfllerljtg primarily finances sireet Power Agency, pin agency that was a stake In the-
Improvemenls, rho city anticipates Imuing the Comanche Ptak Nuclear P10je0t, Cyst overruns
remulnhlg $14.3 mllknn altlhotization'In yearly from that project may Inilil future utility
Increments. t7lnanc'P,,are satlsfoolory; Property and earnings ands indirectly, Oenoral Fund transfers;
sales loxes comprise major portions of revenue and Substantial lazing margins exist should reduelions
are supported by strong cdlleallons, Transfers from In Ullilly Pund transfers occur, The exph)lod
the Utility Funds OW contribute slgntflcanl revenue shortfall for Ascal'1987, resulting from
revenues: these funds are reportedly Igor allocable slowed sales tax collections, did not occur due to
admiolmi-Atlve costs and are a means io subsidlze expenditure controls during the year. Oftals
the Oenelal Fund oxpendkures, Theclty utility is predict balanced operallons due to previous
the largess purtlelpanr In the Texas 1Municlpal measures taken 'to reduee expenditures,
dofalls of bond Legal Mame of IsstAl Clly of Ntdoo, Texas. Call NaVO! N94111169 )uly 1, 1998 at par.
si lel S601,110, G.O., LT, keg1111aC MTrust & Corp Dallas;
Dote Of gAnd1. January 1, 1983+ "ng Agenh, MTrust A Corp Dallas,
Clatsominatlon: 53,000, ,)slivery: On or about March 8f 1988,
Annual MafMtres 7/1 (1000) bond Counleh McCall Parkhurst and Horton,
Ytaar~_ (tm0unt Year _ Amount Dallas,
1990.97 $173, ; 199,13008 $200 Hnunakil OfOW Jahn MOGrane, praetor of
IMIGrOf ROW To be determined, plnance,
Averoge We of Issue, I Lg yeah, Advlill PlrilrSouthwest Company, Dallas.
interest pay4tale: Semiannually beginning Auditor Tkiel(te Haskins tit Stilt, Pori Worth
rill 1, 1989, (F'Y 1987).,
dMalllof lost DofrrofSolo: April 21, 1987, InfereltCOO 7,88"!0
compared Am+ l $3,500,000. MOO*'& Indox 0) 8,10%
sera puicholor:LoveiiMitchell Webb&Oanisum, 1OhllAtaledt.amn,ai6rApri121,1981.
111U,
,Wing h1116ry1 April 19A9: AI July 4900: A
~ analyifi tl, fltfangN
1lixll 6a,hn11 t sc,Y k(. l uv. h% wJut rdlc mid cduduo h11ha rler i,411011 of a I% puhltr:i 11,11, I he 41fureln,l,la hnahl h , Min "N.dllal anm worth Mitt fill lo h•,Itww4',I
ild
n1i11hle, ilk h'fJIIN'ur Ihr pIgJhl II)nthulaildlld Illo II,IIIIIVIrehN,Ihd,llrArr M,VN)ph IcMHHtlur eIIdWIIlwd MnrlyY[Jill p, ii I114nhMh IIIN Ig,"fiMort lllryN Id N)' ofwll,
,u1dlh,11 Ktiorot) IU4N p11JIJIlleed.A td Whip00400040 Ilfd 411111 uY UnC raY'IUf III VII III\f11111Val Ih•.P{„p, VIW t 14111MWhl JIJW I IIII f pMfl fl4d)',Ind pYdhlylpill lrVll)
iwwl Mhll4' .
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G#Aof*l Obllgal' OspKioi Tox Febtuary 9Sa! g
Donton, Texas
drrbt factor' Moderalydebt burden, Subsiantial outhorizadon
remnining Above Avcrege payout,
bebt sfa1M»nt a1 of 1 /2!!8 OM) -
bonded debt nutuamding
pencrrd obligation'
Ilevedue $27,967
Cuww offering (2/'e/8g) 41,570
Of&-%tended debt; ~6q1
Capitol Icuser $73,137
arms direct deht 1,,13 4
l'ess' $74,411 L-
Ftevnue IMindn
flirw Ito l debt 41,0o
Ovokpov Ubl: 33+ a1i
berucn ISb Amount %
tknlanCdunty - $26,175 $6.1 12.$,14
Oeerallnetdebt 11.01o 24.11 2~63a
$-4 Ora
Por Additional information please refer 10 Moody,, 1987 Muninippl end Government Manual, pogo 33 2.
Security; 0,0„ LT. C#P/"(* Mrft) jr gr Current offering
Use of Pt". ads: SlreeIs and various city repromols Third Installment on the 1986 $21,6
Improvements, mllliml 406oH44116n, Oy nntiddooles Issuing
$tfUOtUfe; Generally declining debt service, after remaining $14 3 mllBon auIhor1aIIon'ln yearly
peak in 1989. Inslallmenls, Furlherniore, $20,0 million in u11111y
Debt Hlslory/Trertd; Frequent issuer, Series 1988 revenue bonds plunnQ in be Issued through 1990
Is 18th Issuance since 1970, for utility system lmprovormnts;
1$0trowlt>d Re rt4o ono; Ten percent orcurrenl
ossessed 'value,
Sh6memt borrowing` None relwled for
Opernl long,
$0Ioclod Debt 4NICIII M Debt R0604
Year
1988 _ Net M Pef (11 Median
1989 11 $4, f4S Nbt-C a T Medipn % fNr -A)
1991 4,884 Direct $715 $452 116 L6
1991 3,976 Overall 1,260 751 2.8 2,3
1495 J,651 O1 Baud on 19x4 wulelhln ranfnate. s
1999 3,217 mcla"Ofth2sa104o,94opnMttslh,n
2002 J,27J Rate of 46ON"ent
2009 Ptlncl{sal Amount of
AI unt Due x ♦
Overall Ttllah $52,4811 - L - 1~fal
Utlm,ulrinl;,dflomr,v~unp•11,7y; un Ned,y 11087 G,r In I YON S11,340 1G,h
fuualauon 111 l(1 ycars 22,V,1i} `7~ b
Weak, debt wrvtea requloamenls
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4 General Obllgatlon/Sptlclal Tax February 2, 1988
Denton, Texas
admintafraffve FUan of G0vetnmehti Councllrmanegeri seven tax code in 1979 provided for the Invoullon of a
ftrofora;" council members, Including the mayor, elected at single appraisal district In each coUhly to enable
large to two,year rolating terfnsr A city manager is uniform appraiaa!'of property at full market value
appointed faoverstr; dally adminlsErstlon for taxing purposes, beginnhig on Tanury 1, 1982,
Publio Empoyo0j: Approximately 793, r Pro
elegible ..tarry within each appralul district may ba`
employees parllclpate in the TexaA Munlolpal reappralstd a( least once every four years efteollve
Retirement Sytem or the eltyadminlslertd lanuray I, 1984. INN effe0ve tux rata Increase is
Fireman's RrBef and Retirement Plan, As of to be more than 3%a, it public hearing must be held; I
December 31, I1r86, city nas an unfunded accrued If the effeotive tax increase is 8% or greeler a Voter
Ifabillly of S2; I millions referendum may be friggered, general rbilgation
T6xaa Properly tax Code and Recent debt service and other contractual obligatEt+ns are
Arnendtnenfs; Adopllon of a statewide properly excluded from calculation of the eireotlve tax rata
The city has oporned effectively within the
framework of the Ieglslatlon,
pmorty Reappraisal has slgnillcanlly Increased assessed
VOIUOft" and value; and continued development has added
tax datai taxable rea met, Properly tax collectlonastrong;
Denton
EGualiratlon puN
FY % TaxRgha/ Wy %Tr>tpt
A.V, (G00f Rate % Valub~tlOn? Char> ! b40 A V, (pgplCo}{~
1983 $1,049,9
,47 100 M1,049,947 ci1Sd13 S,IU 3,376
1984 11070,649 100 1,0 6.649 119 5.60 5,996 99,0
1985 111S3,8pd 100 1,133,$24 7.8 5.90 " 6,809 99 ,y
1986 1,433443 100 I03,543 11025;2 5,90 8,311 99,9
1981 1,820,464 too 1,920,464 W 27.0 5,90 10,801 90.8
1988 21050,245 100 21050,295 12.6 Pi $.93 12,134, Inprexess
Ir) ncuppreiwl
II1 Puniel rcyprowl,
. • !fJ IueluJer S2.J1 fur Jebl ~ervlce,
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General Obligatic ipecial Tax Februory 2 e6 g
Denton, Texas
s
FY 1988 Full Value per Capilai M$44,$00 AsseeS.dVd1ue Corn llNon FY 1968
01532,495 1 ~ 96):
Rgldenl lal 50,6
Average Annual OrowlhF.V„1983.861 14.3%r Coin mercial/Industrial
Year-end Current Dcllnqueney, R business personal 113.8
1987: -3,0%r Rural (undeveloped) 12,2
1986: 4.1%
Ig"a-A on Us,Ccnrrn7944plpulmloll~timnla..
Iel n.wv1 wi v91y') IIsm ri+plrhmnIi enlIsIU10
PrOpBrly' Tax Base: Real and personal Colliactfng Agent: t)emlon,
EX81mp OMM Homestead, elderly, disabled, taxes DUb': ()ctn@cr t; Oelinyuenl February I,
veterans, u8r1cullural . POnaltl6l: SIX
pervenl February 1, Increasing I /o
Amssing Agent: Denim County Appraisal monthly to 12%r In July, In addltion, 1^/o monihly
District, interest and IS%r to pay cesl or lax attorney,
Reassessment PrOCedurer: Every four years. Pate and LOW LlmNations145 mills per 51,OW
80a1s of assessment, 100%. assessed vulur for all city puromes,
Lar t raspawn i1 1148 AN,
__,W
'tetra Pak ~ Peck aging manufootudng $46,740
Peterbllt Motors Most] mocks 44,365
amoral Telephone Telephone utility 37,865
AndreW Corporation Electronic equipfheel
35P/288J/V etal manuracturer 2t,125
VictorP'quipmenl ikvelopef 18,,110
Weldingequlplrrent 18,176
[,iexark N,>spiwis/AMl Nurlh riosphul and professional
Texas
T 17,t8Y3
fH1'uplenlwp4yors, ueo nallfullttV~df,IiAu,ln,nt building
galas Tax Peoelpft q
Fieonl Total '
Year CWleCted ~ Chafe
1981 51,011 w. _ 18.0
• 1982 Jr293 9.2
1983 J, 171 .3.8
1984 3x902 23.1
1995 4,612 18,2
1986 4,743 1487 2,9
4,429 6,7
II I AImigennnuAgruwlh,ulINIJI eVeIpL,19N1'x1:hb"b
II "`z
6 General ObllganOn/Spealal Tag FebrUary 2,191A
Denton, Texas
{
eoonomla 0canomh base ins ludcs signiA4unt residenllal, within the city, providing sigllltlcant employment,
faolo►ar Coinmerelal, industrial, and institutional uclors, City rosidenl income levels and housing values are
Location iviihln the Dallas-rori Worth meiroplex slightly above the cumparable norms.
has vided development, North Texas Slate lpcQ}lOn; Approximately 37 miles north of Dallas
University and Texas Woman's University and Forth Worth.
combined earollmenl of approximately 29,220 Are
POpuiolton: D*ntorf
- % Chonoe In Poputotlon
Year u1011on Aroa~sq ml,l Density banfon Sfcte u,S,
1960 26,d44 9A 2d)$3 «14.2 18 5
1970 J9,d74 27,6 1,445 48,5 16A I.1..1
1980 48,063 32,5 1.479 203 27.1 I L4
1982 49,88.1 ,12 1,167 11,7
1984 est. 46,07$
42 4.1 12.4
Source, U X Ceasus Bureau. J
nl CAY nlitnale pnpulauoo al 63,1tk1. I
Population and Housing ChatoolerlsiII Donlon
Iy JJ
4970 CiIY 141 NOrma U,d
49410
_ 1060 4DEU
Populotion, -
h4cdlah Age 221J 24,9 17,9 JQ0
Ve ~Nvh(x)l age 17,$ 15A 21.0 20,9
7r working age 6d,0 ,1014 60,9
Or 65 u nd nl cr 11,1
No, persons/household 1613 +J6 218 2,7$
Income:
hiedlun fulnHy Income $9,092 $20,650
Vr wi ow pnser1y level 1113 14:1 S 19,14.4 519,1=05
Per capltapicume $2,793 $7,247 511133 f71J13
Houlhig
%owllcrowelipled 51,3 46,1
.1
^ bot11 before 1919 20,6 915 11LI ,2 2 266.1
r/n bulll since Iasi Census I
40,1 3d.1 303 25.9
Uwneroseupled otedlan value $17,296 $49,000 $Alo0 $47,300
14e0114n grow rent 5104 5243
Occupied housing unlit 11,896 I0 17,522 S24S
Source: U.5, Census Bureau.
iu I1)ILkn~r uhlulgc: a~.2n'yi.
rr_N,ina,:a. rut all ctlh•swith vlpulallon groaP7lh.lu KIM bl.t<nillige~t grstlnq.
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General ob dlon/Sp~olol Tax Foix , 2,19114 7
Denton, Texas
Labor Market Cbaracterlsticst Denton County
% % %
Labor Total Unemployed Unemployed Unemployed
Year Force,_____Employ!p2nt ounlt Vote _ U.S.
1977 49,926 48,015 3A _S.3 7.1
1978 54,493 52;674 313 4.8 611
1979 57075 36,081 2.9 4.2 $.8
1980 7$,219 72,748 3.11 5,2 711
1981 78,125 73,132 4.1 313 'Ao
1982 81,248 76,914 5.3 619 9,7
198301 91,430 87,347 _4.5 8.0 9.6
198401 99,478 96,285 32 5.9 7,5
198591 t 12;579 107,405 4.6 7,0 7,3
1986 115.131 101,784 5.3 8.9 7.0
10/86® 117,477 110,868 5,6 8.9 646
10/87(:1 118,966 112,206 Sig 7.4 5.1
Sourge; nepartment of Lubor, Bureau of Labor Statistics,
n(tY,,NW1OMCP%10lwnhrrecedfnx}eandue loeheneeclnlhoNoichmaiMmlpnxim -
iAMnnth13'djla mil uoondlly i4jow ,
larliKt ~~M'ttrs
- Emplo ewes
North Texas Slate University and ltussell•TJewmall MFC2. Company $00.1.
Texas Woman's Unlverslty N 000+ Victor Vi ulpmunl,Company $00+
Denton ISD 900 MARC Motors 9topany 500+
Denton, City of 793 Peterhllt Motors 4,ompany 500+
Moore Business Fortns,lnc, 500+ Sally Beauty Company Ind. 4001`'
Source: OPt ial slotemenl,
M For talh unlverslt*,
Mtwnelnl Plnandes satisfactory, supported by property taxes, operations have not been hindered, General Fund
Inofons sales tax, and srdnsfers, Debt service Is larSe reserves, epsul to 10 to 15916 of revenues. In
portlon of expenditures; however, overall comfortable a'an{e.
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8 General Obllgc+tlon, eoial tax February 2, 1
Denton, Texas
I
opsrollnq Fututr FlnanCldl Perlorrnonce Illgool yoars srtd~d 9/30 $ r)O0} ~
%ChOnge
1986 1986 4961 1986.86 198887
prn7anp'ulx $9,046 $11'131 $11,436 23,1 2,7
Saks lux 41612 4,746 4,429 2.9 •6.7
Traasrenin UJ $118.1 6,305 5,513 21.7 -12,6
All other 1,373 %,621 •5,8 IWO
Tolal revenue $20,216 $23,415 $24,999 16.1 60
Operaling expendilures 16,867 181903 19,862 1211 5.1
Ocbl service 2,420 (31157 3,664
Caphul outlay 661 J59 284
Transrersour 822 442 168 .46,2 .62.0
Twill expenditures $20,142 _$19,861513,978 •1.4 10,2
Oluroling surplus li.1401) 0) $(328) $2,259 $174 .74.6
(101,04a l u nd Dvh l 4 ti tec Pu n& (oniifln,v) a'rt ud mahm 0 r acorn, hl hsr 1. .
~1Itrowfrrxnre plln,artly for udndnfarulivv+eidve ante. rourn im quily, and federal rcteuve Aming. - -
ial Ovocrul Fond only,
tO Kerundiug during year,
4987 Sources of Revenue % 1947Ifems ofExpend8ure~YUy %
Properly lux 45,7 Public safety 3119
Traosferg In 22.1 Oenaral government 2817
Sales tax 17.7 Debt service 153
Franchise & service fees 4.4 Publld work.s 13.1.
Fines/rorfeitures 11 Parks and recreation 7.1
Capital outlay l.2
Oesneral Fund Fl"moksil Pdfltlon I} 000)
Ctt(snge
Itch _ 1984_ 1966 _ 1986„Y 1967 1966.66 196887
CmIlJHdlnvestmentdy~ S2,0r6 J $2,180 Nm$.1,033 $4,726 µ 39,1 $5.8
Operalingloons 0 0 0 0 0
Ober current liabilities 96O 2,885 013,011 .w2,85 4.4 .5.1
Year-end ensh sutplux
1de0c1Q $1,136- $17051 S ;12 $1,814
Rcceivublcs $1,072 $2,280 $2.020 1 461 .11,4 01 .17.1
Fund balance > 42,616 12,289 S2138 $3,113 10.9 12.7
Undcslgnated fund balance 1,689 11122 1116 M02 35.1 51,9
0 11Mud,4 dencll In r w,ted cash pos1110d of 56,14,ftb.
WOV or I Woe,
General Fund Upda$o ($000) -
FY 1967
Revenues $22,672
Expenditures Y 22,692 M
Conmlenlt City otl1clals Indicate no xllortrail in Antlclpaling a balanced budget through
Ilscal 1988 sales tax revenue expected to Increase expenditure containment and no new flung,
slightly, while property tax revenues up sharply,
14782H01 N
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AMOUNT OF SONOS AUTHORIZED BUT UNISSUED
• `Streets $4,7321000
• Drainage 1,365,000
• Library 575,000
• Law Enforcement 2,4001000
• Athletic Fie1d9/Nuighba):ho0d Ctr
Roo Center (1,4M)
Athletic Field" (4E0,000) -1 -ui) ooa ~
TOTAL
I,
BUGGESTIED BOND BALE FOR 1992 j
• streets $1,500,000
n Drainage 11366,000
e Airport (0,0-1re) 137,000
+ Law Enforcement Center 20400,000
♦ Library? 4S?Q
Subtotal $50977`, 000
Xoouanoa and other Conte 123,000
TOTAL
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CITY OF DENTON, TEXAS-PROPOSED $10,920,000 Q,O.BONDS
t
$10,920,000 LESS; NET,
riSCAL YEAR OUTSTANDING DATED CONSTRUCTION WHIT SERVICE
i--M M3QW 1 1 9 El14LARNM REPILIR.h INTO
198111992 $6,488,704 $6,488,704
1992/1993 6,007,434 $1,044,226 $562,956 6,488,704
199311994 4,402,481 1,037,100 5,439,681
199411996 31981,031 11281,860 6,222;881 ` '
199141898 3,829,846 1,256,083 6,084,90N
199611997 31638,838 1,216?60 4,783,088
199711988 2,068,873 11177,438 4,188,311!
199811999 2,858,693 1,138,626 31997,218
1998/2000 2,4414,800 11099,813 3,694,413
200012001 2,161,488 1,086,000 3,237,46H,
200112002 2,030,163 1,046,600 084,863
2002/2003 1,831;603 1,006,000 2,936803
2003/2604 11683,883 964,500 2,669;363
200412006 7890,163 924,000 1,704,'783
2006/2006 732,663 883,600 1,816;183
200612007 877,700 843,000 1,620,100
2007/2008 439,000 802,600 1,241,600
200012009 213,000 782,000 916;06,0
2009!2010 721,600 721,60b
2010/2011 681.000 881;004 '
WjaL$31 518,948$@4 $602,966
>
ASSUMPTIO (1) 20 YFAR SCHEDULE At 6,7896 INTEREST DATE
d (2) 6.0% INTEREST EARNINQS •
• 0
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1
$10,920 000
CITY OF DENTIN, 101IAS
GENERAL OBLIGATION BONDS, SERIES 1992
DATED: 21 1/92 FIRST CPN DUE; 1/ 1/93
PRINCIPAL DUE: 7/ 1 INTEREST DUE: 1/ 1 7/ 1
YEAR
END PRESENT THIS 10920,060 ISSUE GRANO TOTAL
9 4EQUIaEMENTS - TN7I~ u_ tF~Iffram--- MTAL-- R___fE UIRrMENTS
1992 S 5,488,704 $ 3 $ $ 6,488,704
1993 6,0071434 1,044425 1,044,225 6,0619669
1994 45402,481 300,000 737,100 1,037000 6,439481
1995 31961,031 646,000 716,860 1,261,850 6422,881
1996 3,829;846 576,000 680063 112665063 6;004,909
1997 3106,826 676,000 641,250 1,216,260 4,763,066
1998 21988,673 675;000 60214M 1177,438 4,166411
1999 2,868,693 576,000 663,625 1,138,,626 3,9971218
2000 2,494,600 676,000 524,813 1099,813 3,694,413
2001 2061,488 600,000 486,000 1,086,000 3437,488
2002 2039,163 600,000 446,600 1;046,500 3,0841663`
2003 1,931,603 600,000 406,000 1006,000 2,936,603
lp4 11693,863 600,000 364,600 -964,600 25 8,363
~j 5 780,763 600,000 324,000 924,000 1,74,763
2006 732,663 600,000 283,600 883,8g00 1,616,163
r 2007 677,700 600,000 243,000 843,000 11620,700
2008 439,000 600,000 202,600 802x604 1,241x600
2009 213,000 600,000 162,000 762,000 975;000
2010 600,000 121,600 721,600 721,600
2011 600,000 81,000 681400 6810000
2012 600,000 40,500 640x600 640,500
S~46,121,831 S 10,920,000 $ 809,364 S~r 19,589064 $ 64,716,996
INTEREST CALCULATED AT 6,750% FOR PURPOSES OP ILLUSTRATION.
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w ry Ol 171wom TEXAS MUNICIPAL BUILDING i 215 E. M6KINNEY / DENTON, TUXAS76201 ~
MLMORMU'M
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DATE; Deaumber 90 1991 1
Tos Lloyd V. Harrell, City Manager
FROMs John F, McGrane, Executive Director of Finance
SUBJECTS 1992 CIP FUNDINO
A preliminary review of the debt issuance for the Capital
Improvement Program has been completed. The outlook for CIP
funding has improved because of the action taken by the City of
not issuing new CIP debt for the past two years. Attached as
exhibit A is _a schedule of existing debt service on current
outstanding G.O. bonds. As you can see, the total payment in t
199192 is $5,488,704 and this decreases to $51007,434 in 1992-93,
if the tax base for the City remairs the same, or increases, then
an additional amount of debt could be issued with no effect in the
debt service portion of the tax rate, I have also included
Exhibit 9 which shows the amount of 1986 authorized bonds that
have not yet been issued, As you can see from the exhibit the
total unissued amount is 0101922,000,
Thera is now some flexibility for a sale of bonda. The suggested
amounts to be sold in early 1992 are as follows
• Streets $1,,500,000
• Drainage 938,000
• Airport (CO's issued as
a match for FAA
o grants) 137,000
TOTAL $2,575,022
It is also recommended that since there are sufficient funds from
previous sales to allow for proceeding with the drawing of
architectural plans for the r,ibrary and Law Enforcement centers
0 that those proceed accordingly, it may be possible to issue the
remaining $575,000 and $2,400,000 respectively either in late 1992
or early 1993.
1
817/566.8100 01P'W MMO 434.2629
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Memo to Floyd V, ttarrell
De0ember 91 1991
Page 2
i
Also, from Yxhibit H, you will note that there is still is
$1,4001000 still to be issued for a second recreation center and
in addition, there has been a previous $lt300,000 issued for an
additional center, it would be our recommendation to allow the
Parks Board to proceed with their discussions and publio hearings
on the possibility of the utilization of those funds,
If you have any questions, or need any additional information,
please advise.
V4moo l of
Attachments
AFrFOOODF
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Exhibit A
i
CITY dF DXWTOH DEBT SCHEDULE
Fiscal Year OUTSTANDING
(9-.301 0;52. BONDS
1991/1992 $ 50488,704
1992/1993 51007,434 1993/1094
4,¢02481
1994/1995 31961,031
1995/1996 31829,846
J.996/1997 315361836
1997/1998 2,988,873
1998/1999 21858,593
1999/2000 2j4941600
2000/2001 21151x488
2001/2002 2r038,153
2002/2003 11921,603
2003/2004 1,593f863
200412003 7800763
2005/2006 7320663
20062007 677,700
2007/2008 439,000,
2008/2009 ~h~a24Q`
TOTAL 945,127.631
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• Streets - $4,7321000
• Drainaa-i "'1,365, bd0
r Library 575,000
• Law Emf6ecdment 2,400,000
Athletic Fi91ds/Neighborhood Ctr,
Rea Center (1,4M)
Athletic Fields (450,000),•@5Q,OQp
'DOTAL 4(1..922, 00/`,
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