HomeMy WebLinkAbout2001-083 ORDINANCE NO O�X —O
AN ORDINANCE OF THE CITY OF DENTON, TEXAS, AUTHORIZING THE
MAYOR TO EXECUTE AN INTERLOCAL COOPERATION AGREEMENT BY
AND BETWEEN THE CITY OF DENTON, TEXAS AND THE CITY OF ARGYLE,
TEXAS PERTAINING TO THE CONSTRUCTION, INSTALLATION, AND COST
PARTICIPATION OF THE GRAVEYARD BRANCH GRAVITY FLOW
WASTEWATER MAIN, AUTHORIZING THE EXPENDITURE OF FUNDS
THEREFOR, AND PROVIDING AN EFFECTIVE DATE
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS
SECTION 1 That the Mayor, or in her absence the Mayor Pro Tem, is hereby
authorized to execute, on behalf of the City, an Interlocal Cooperation Agreement
between the City of Denton, Texas and the City of Argyle, Texas for the construction,
installation, and cost participation of the Graveyard Branch Gravity Flow Wastewater
Main, substantially in accordance with the Interlocal Cooperation Agreement which is
attached hereto and incorporated by reference herein
SECTION 2. That the expenditure of funds as set forth in the Interlocal
Cooperation Agreement is hereby authorized
SECTION 3 That this ordinance shall become effective immediately upon its
passage and approval n//
PASSED AND APPROVED this the a( &day of , 2001
EULINE BROCK, MAYOR
ATTEST
JENNIFER WALTERS, CITY SECRETARY
By
APP VED AS TO LEGAL FORM
HERBERT L PROUTY, CITY ATTORNEY
By
S\Our Documents\Ordinances\00\Interlocal Agrmt-City of Argyle Graveyard Branch W W Line doc
THE STATE OF TEXAS §
COUNTY OF DENTON §
INTERLOCAL COOPERATION AGREEMENT BY AND BETWEEN THE CITY OF
DENTON,TEXAS AND THE CITY OF ARGYLE, TEXAS PERTAINING TO THE
CONSTRUCTION,INSTALLATION,AND COST PARTICIPATION OF THE
GRAVEYARD BRANCH GRAVITY FLOW WASTEWATER MAIN
THIS AGREEMENT is made and entered into by and between the City of Denton,
Texas, a Texas municipal corporation (hereafter "Denton"), whose principal offices are located
at 215 East McKinney Avenue, Denton, Texas 76201, and the City of Argyle, Texas, a Texas
municipal corporation (hereafter "Argyle"), whose principal offices are located at 506 Highway
377 North, Argyle, Texas 76226, each organized and existing under the laws of the State of
Texas, and acting by and through the authority of their respective governing bodies and officials,
and
WHEREAS, Denton and Argyle are local governmental entities, both of whom have the
authority to perform the activities set forth in this Agreement individually, and who mutually
desire to enter into an interlocal cooperation agreement, as provided for in Chapter 791 of the
Texas Government Code (Vernon 1994) in order to maximize the benefits to the citizens of
Denton and Argyle to be derived from each taxpayer and/or ratepayer dollar expended, and
WHEREAS, Denton has planned, and intends to construct and install a wastewater
transmission line that is located to Denton and Argyle, in Denton County, Texas, in order to
provide wastewater infrastructure to existing and future developments, and this Project is called
the "Graveyard Branch Wastewater Main Project (hereafter the "Project'), and which Project
shall extend generally along the Graveyard Branch channel alignment from Crawford Road In
Argyle to Denton's Hickory Creek Wastewater Interceptor, and
WHEREAS, Denton and Argyle, each in accordance with its respective ordinances,
desire to jointly implement the Project and jointly participate in the cost of constructing and
installing the Project, for the purpose of providing facilities to adequately receive, transport,
treat, and dispose of wastewater, and
WHEREAS, Denton has been and is willing to accept the responsibility of providing
improved wastewater treatment and services to entities located outside of its corporate limits to
protect water quality and develop reuse potential, and Denton and Argyle intend to enter into a
separate contract entitled"Wholesale Wastewater Treatment Services Contract Between the City
of Denton, Texas and the City of Argyle" (hereafter the "Contract"), wherein Argyle desires to
obtain wastewater treatment service on behalf of its customers, and Denton shall provide Argyle
with regional wastewater treatment service on a wholesale basis, and
WHEREAS, Denton and Argyle desire to pool their respective financial resources to
avoid unnecessary or duplicitous costs and expenses, intend to coordinate the collection,
treatment, and reclamation of wastewater, and intend to attain mutual advantage and benefit by
achieving economies of scale, resulting in savings to the taxpayers and ratepayers of Denton and
Argyle, and
WHEREAS, Denton and Argyle, by this Interlocal Cooperation Agreement (hereafter
the "Agreement") express their mutual understanding that the relationship to be created by
implementation of Agreement is that of two local governmental entities sharing the cost
participation of the Project, and there is a valid governmental purpose served by this Agreement
by Denton and Argyle to provide for construction and installation of the Project, and
WHEREAS, Denton and Argyle represent that all payments made in connection with
governmental functions provided for by this Agreement, shall be made from revenues available
to Argyle in accordance with the provisions of Section 79101 l(d)(3) of the Texas Government
Code, and that the payments received by Denton hereunder are adequate and fairly compensate
Denton for the services, functions, or activities performed, in accordance with the provisions of
Section 791 011(e) of the Texas Government Code, and
WHEREAS, the Interlocal Cooperation Act, now contained in Chapter 791 of the Texas
Government Code (Vernon 1994), authorizes Denton and Argyle to enter into this Agreement for
the purpose of achieving the governmental functions and providing the services, functions, or
activities represented by this collective, cooperative undertaking, and
NOW, THEREFORE, Denton and Argyle, for and in consideration of the premises and
the mutual promises and covenants set forth in this Interlocal Cooperation Agreement, and
pursuant to the authority granted by the respective governing bodies of each of the parties hereto,
in accordance with Section 791 011(d)(1) of the Texas Government Code, do hereby AGREE as
follows
I
ADOPTION OF PREAMBLE
All matters and recitations stated in the preamble of this Agreement are true and correct and are
hereby incorporated by reference into the provisions of this Agreement for all purposes pertinent
II
DEFINITION OF TERMS
In addition to the definitions stated in the preamble hereof, the terms and expressions as
hereinafter used in this Agreement, unless the context clearly indicates otherwise, shall have the
following meanings
(a) "Average Day Wastewater Flow" means the daily average flow rate computed by
dividing the total quantity of wastewater flow generated over a calendar year by
365 days per year
(b) "Project"means the Graveyard Branch Wastewater Main Project
(c) "Bonds" as used herein, means the issuance of debt, including principal and
interest,by Denton for the purpose of financing the Project
2
(d) "Interest Factor" as used herein, means the rate utilized herein which consists of
Denton's average interest cost paid to retire the issuance of debt pertaining to the
Project
(e) "Force Main Project" means an existing Argyle-owned six (6)-inch diameter
pipeline that can transport wastewater under pressure from Argyle to Denton's
Hickory Creek Wastewater Interceptor For purposes of this Agreement, the
Force Main Project has a capacity of 560 Living Unit Equivalents
(f) "LUE" means living unit equivalent On a daily average basis, one (1) LUE
generates 320 gallons per day(GPD)of wastewater flow
(g) "Maximum Day Flow Rate" means the expected maximum wastewater quantity
generated over a 24-hour day For purposes of this Agreement, the maximum day
flow rate equals to the average day flow rate times two (2)
(h) "Peak Hourly Flow Rate" means the expected maximum wastewater quantity that
could occur in any given 60-minute period For purposes of this Agreement, the
peak hourly flow rate equals to the average day flow times four(4)
(i) "Project Costs" means all capital, construction, planning, engineering, surveying,
easement/right-of-way acquisition, financing, and other typical costs associated
with the implementation of the Project, including without limitation, the bond
issuance costs, bond insurance premiums, underwriter's discount, and deposits to
the deposit reserve fund
{j) "Parties"means Denton and Argyle referred to collectively
(k) "SFE" means single-family equivalent, for purposes of this Agreement "SFE"
means the same as"LUE"
III
TERMS AND PROVISIONS OF THE AGREEMENT
1 Denton shall design, install, and construct the Project which includes, but is not
limited to, approximately 20,000 linear feet of 15-inch, 21-inch, 24-inch, 30-inch, and 36-inch
diameter sewer pipe, along with all necessary appurtenances thereto (including, without
limitation, metering station, manholes, etc), as generally shown on Exhibit 1, attached hereto and
incorporated herein by reference The Project shall commence at the current downstream
terminus of an existing sewer main located immediately upstream of Argyle's Lift Station No 1
(termed the "Point of Beginning") The Project shall terminate at Denton's existing Hickory
Creek Wastewater Interceptor Main(termed the`End-Point")
2 The Parties agree that the Project at its End-Point with Denton's Hickory Creek
Wastewater Interceptor Main shall have a capacity of conveying 20 67 million gallons per day
3
(MGD) of wastewater flow For purposes of this Agreement, the Parties further agree that they
shall each have the following average day, maximum day, peak hourly flow capacities, and LUE
capacity
CITY AVERAGE MAXIMUM PEAK HOUR LUE
DAY FLOW DAY FLOW FLOW CAPACITY
CAPACITY CAPACITY CAPACITY
GD MGD MGD
Argyle 0 512 1 024 2048 1,600
Denton 4 655 9 311 18 622 12,898
TOTAL 5 167 10 335 2067 14,498
3 Pnor to the beginning of construction of the Project, Denton shall obtain, as part of
the Project Cost, all necessary permits, licenses and easements The easements, deeds, plats, and
other documents so obtained by Denton shall be reviewed and approved as to form and substance
by Argyle prior to the beginning of construction If Denton is unable to acquire any needed
easements, Denton shall provide Argyle with information and any requested documentation of its
efforts to obtain such easements, including evidence of the negotiations and offers made to the
affected property owners Any easements for the Project obtained by Denton within the City of
Argyle shall be assigned to Argyle, if easements are not already acquired in Argyle's name, prior
to acceptance of the Project
4 Argyle's share of the Project shall be 1,600 SFE's Argyle's share of the Project
Costs shall be as set forth in Exhibit II, attached hereto and incorporated herewith by reference
a Segment One — Commencing at the Point of Beginning located at the
manhole at Station 192+98 39, and ending immediately upstream from the manhole at Station
168+00, as shown in Exhibit I attached hereto and incorporated by reference herewith, and
further as shown on the plans accepted by the Parties prepared by Halff & Associates, dated
September 14, 2000 Segment One shall contain Project improvements (e g , sewer mains,
metering station, manholes) that are exclusively used and useful to Argyle Segment One shall
be solely owned by Argyle
b Segment Two — Commencing at the manhole at Station 168+00 (1 e ,
where Argyle's metering station is located),to the Hickory Creek Interceptor Line also as shown
in Exhibit I
5 Denton's share of the Project Costs as between Denton and Argyle shall be
computed as the difference between the total Project Costs and Argyle's share of the Project
Costs Each parry's respective share of the Project Costs shall be based upon final audited
numbers for each Project segment, following the procedural example in Exhibit II hereto
6 Pending final audited Project Costs, Argyle's portion of the Project Costs for the
Project is currently estimated and projected to be $687,518 00 (termed the"Principal Component
Amount"), as computed by the procedure and methodology as set forth in the"Contract Payment
4
Schedule" which is marked Exhibit II, and is attached hereto and incorporated herewith by
reference The Principal Component shall include Argyle's share of the capital cost for the
Project plus Argyle's share of the portion of the other Project Costs, as defined in paragraph
II (i ) heremabove Argyle shall also pay its share of the portion of such other and further costs
and expenses, if any, as calculated by Denton to Argyle that are reasonably incurred and are
associated with the construction and installation of the Project, that are mutually agreeable
between the Parties
7 Argyle shall pay Denton a "Repayment Amount" as may be adjusted herein, for
Argyle's share of its capital costs associated with the Project,plus interest as though Denton was
financing Argyle's Principal Component Amount as a mortgage with level payments The
Repayment Amount shall be calculated as the Principal Component Amount plus the total
interest earned on the Principal Component Amount financed at a rate of 5 61 percent (termed
"Interest Factor" that represents the interest rate paid by Denton on the Bonds issued to finance
the Project) over a period of twenty (20) years By way of example, the Repayment Amount on
the projected Principal Component Amount of$687,518 is $1,152,535 42, as computed and set
forth,by way of example, in the Contract Payment Schedule shown in Exhibit II
8 Argyle shall pay Denton the Repayment Amount in accordance with the
following terms and provisions
a On each January 1 and July 1 following execution of this Agreement, and extending
to the termination of this Agreement, as provided for below, Argyle shall pay 1/40
(termed the "Contractual Payments") for the Repayment Amount projected to be
$28,813 38 (e g , $1,152,535 42 divided by 40), which is one-half the annual level
payment amount computed on a Principal Component Amount financed at 5 61
percent interest for a period of twenty (20) years It is agreed that the first such
contractual payment shall be due and payable from Argyle to Denton on July 1, 2001
b Argyle may prepay part or all of its contractual obligations ansing hereunder to
Denton, without penalty, at any time after the fifth anniversary date of this Agreement
by paying Denton a portion or all of the remaining Principal Component Amount
Argyle shall notify Denton a minimum of one(1) year in advance of the final payoff
If following the fifth anniversary of this Agreement Argyle prepays a portion of the
Principal Component Amount, such payments shall reduce the remaining Principal
Component Amount correspondingly, as if the Contract Repayment Schedule
attached hereto in Exhibit II were a mortgage debt principal payment (i e , the
additional principal paid by Argyle shall be deducted from the principal due at the
"back end of the note") Under this scenario, Argyle shall continue to pay Denton
semi-annual payments as scheduled and set forth in paragraph 8 a above until the
remaining Principal Component Amount is paid in full
In addition, Argyle may prepay one hundred (100%) percent of the Principal
Component Amount as if the Contract Payment Schedule attached hereto as Exhibit II
were a mortgage debt being prepaid The Contract Payment Balance shall be
5
determined at any time as the remaining Principal Component Amount (as may have
been reduced by partial pre-payment of principal amount) plus interest prorated
through the date of the Principal Component Amount payoff
c Further,when Argyle pays,whether via any pre-payment or full payment options set
forth above, its contractual obligations at any time following the fifth anniversary date of the
execution date of this Agreement, the Contract Payment Amount shall be adjusted to include a
credit from Denton to Argyle to reflect Denton's bond selling costs that are included in the
Repayment Amount These bond selling costs are associated with the bond deposits placed by
Denton in conjunction with the bond debt issued by Denton to finance the Project (see example
calculations of the credit amount shown in Exhibit II) The amount to be credited to Argyle shall
be the cumulative amount paid by Argyle at the time of contract payoff that relates to bond
deposit costs, plus cumulative interest earned on these annual payment amounts at the same rate
Denton receives on its investments The total credit shall be applied to the principal balance
owed by Argyle at the time of Contract payout
9 To determine the final Project Costs of the Project, Argyle shall have the right to
inspect any and all records of Denton, its agents, employees, contractors or subcontractors, and
shall have the right to require Denton to submit any necessary information, documents, invoices,
receipts or other records to verify the final audited Project Costs of the Project
10, Argyle will deliver wastewater to the Denton wastewater system at one or both of
the following "Points of Entry"
a To the Project at the terminus of Segment One, as defined in Paragraph III
4 a hereinabove
b To the Hickory Creek Interceptor Main at the point where Argyle currently
discharges wastewater from its Force Main
11 Under this Agreement Denton agrees to receive wastewater from Argyle
totaling no more than 1,600 SFE capacity via the Project, and 560 SFE capacity in the Force
Main Project The Parties agree that Argyle's contractual right respecting the foregoing amount
of capacity shall survive the payment and/or prepayment of this Agreement, and is a contractual
property right owned by Argyle that survives the termination of this Agreement
12 Argyle will pay one hundred (100%) percent of the cost to construct
wastewater metering stations, meeting Denton criteria, to measure the quantity and rate of
wastewater being delivered at each Point of Entry to the Denton wastewater system Upon
construction and completion of the metering stations, Denton shall own and operate these
facilities Denton shall calibrate these facilities with regard to flow measurements at least once a
year, or more often if required The cost of calibration of these facilities shall be borne by
Argyle as part of the operations and maintenance ("O&M") costs set forth in paragraph III 13
herein If the wastewater metering station that measures Argyle's wastewater flows being
conveyed through the Project is located at a point other than at the downstream terminus of
Segment'One as defined in paragraph III 4 a above, then Argyle and Denton shall develop and
agree on a procedure and methodology to estimate the monthly wastewater flows that Argyle
may contribute now or in the future into that portion of Segment One that is located downstream
6
I
of the metering station Alternatively, Argyle and Denton may jointly agree that any Argyle
wastewater contributions to Segment One downstream of the wastewater meter may be sub-
metered by future Argyle customers
13 Argyle shall pay Denton O&M costs as shall be determined and to be set forth
and provided for in a separate wastewater treatment services contract to be entered into in the
near-term by and between the Parties
14 Under this Agreement,Argyle is purchasing and acquiring a contractual right and
interest in and to the equivalent of 1,600 SFE of wastewater service capacity within the Project
and shall have an exclusive right to retain such capacity This contractual right and interest in
and to such capacity shall survive the termination of this Agreement Argyle reserves the right to
sell, trade, transfer, or assign to any other entity all or a part of its 1,600 SFE capacity in the
Project,provided that such transfer meets the following four(4) conditions
a Only wastewater, as defined in Denton's Sewer Use Ordinance, is delivered
to the Denton wastewater system, and
b Wastewater can only he delivered at either or both of the two points of entry
described in paragraph III 10 heremabove, and
c Quantity and rate of wastewater delivery shall not exceed those specified in
paragraph III 2 , above, and
d Denton provides written approval for any such transfer or assignment of
Argyle's ownership in the contractual rights and wastewater capacity rights
acquired pursuant to this Agreement Denton agrees that it shall not
unreasonably withhold its approval of any such transfer or assignment, if the
proposed transfer or assignment does not violate the intent or spirit of this
Agreement
15 This Agreement may be terminated by Argyle at any time after the fifth
anniversary date of the execution of this Agreement by Argyle paying and/or pre-paying the total
amount due and owing Denton as determined by paragraphs III 7 and III S heremabove, and as
set forth in Exhibit II attached hereto In the event of such termination, Argyle's rights and
interests respecting the 1,600 SFE of wastewater capacity, as described in paragraph III 14
heremabove, shall survive and shall not be terminated
16 During the Project design and construction phases, Argyle and Denton shall hold
construction meetings at least once per month, and more often, as may be necessary and
appropriate, in order to coordinate their activities on the Project
17 This Agreement embodies the entire agreement of the parties hereto and there are
no promises, terms, conditions, understandings, or obligations other than those contained or
incorporated herein This Agreement shall supersede all previous communications,
representations or agreements, whether verbal or written, between the parties hereto with respect
to the subject matter of tins Agreement
7
18 This Agreement is subject to modification, waiver, amendment, addition, or
deletion, only by means of a written document duly executed by both of the Parties hereto
19 This Agreement shall not be assigned by Denton without the express written
consent of Argyle, which consent shall not be unreasonably withheld
20 Any and all suits for breach of this Agreement, or any other suit pertaining to or
arising out of this Agreement, shall be brought in a court of competent jurisdiction in Denton
County, Texas This Agreement shall be governed by and construed in accordance with the laws
of the State of Texas
21 The paragraph headings contained in this Agreement are for convenience only
and shall in no way enlarge or limit the scope or meaning of the various and several paragraphs
hereof
22 Both of the Parties hereto have actively participated in the negotiation and
preparation of this Agreement and the Exhibits attached hereto, and the Parties accordingly agree
that this Agreement shall not be construed either more or less strictly against or for either party
hereto
IV
EFFECTIVE DATE AND TERM
This Agreement shall become effective as of the date of execution hereof by both Parties,
following the approval of their respective governing bodies This Agreement shall be for a term
of one (1) year, from and after the date that this Agreement is approved by the governing bodies
of Denton and Argyle (hereafter the "Effective Date"), and shall be automatically renewable,
without further action by Denton and Argyle for successive one (1) year terms thereafter, as
provided by and as permitted under applicable State law Notwithstanding the foregoing,
Argyle's payment obligation hereunder shall terminate upon payment of all sums due and owing
in accordance with this Agreement All other terms of this Agreement shall survive the payment
obligation
V
MUTUAL HOLD HARMLESS COVENANT
1 To the extent allowed by the Constitution and statutes of the State of Texas, and
without waiving any immunity or limitation as to liability, Argyle agrees to and shall indemnify
and hold harmless Denton, its officials, officers, agents, employees, attorneys, and its
independent contractors from and against any and all claims, damages, causes of action, lawsuits,
and reasonable attorney's fees and costs of court, for injury or death of any person, or for
damages to any property, real, personal, or mixed, arising out of or in connection with the
construction, installation, and operation of the Project, where the injury or death or property
damage is caused by the negligence of Argyle, its officials, officers, agents, employees,
attorneys, or its independent contractors, except that Argyle assumes no liability for the sole
negligent acts of Denton, its officials, agents, employees, attorneys, and its independent
contractors
8
2 To the extent allowed by the Constitution and statutes of the State of Texas, and
without waiving any immunity or limitation as to liability, Denton agrees to and shall indemnify
and hold harmless Argyle, its officials, officers, agents, employees, attorneys, and its
independent contractors from and against any and all claims, damages, causes of action, lawsuits,
and reasonable attorney's fees and costs of court, for injury or death of any person, or for
damages to any property, real, personal, or mixed, ansing out of or in connection with the
construction, installation, and operation of the Project, where the injury or death or property
damage is caused by the negligence of Denton, its officials, officers, agents, employees,
attorneys, or its independent contractors, except that Denton assumes no liability for the sole
negligent acts of Argyle, its officials, agents, employees, attorneys, and its independent
contractors
VI
FORCE MAJEURE
1 Denton shall construct and shall provide Argyle with use of a fully-functional
Graveyard Branch Wastewater Main Project The Parties agree that Denton shall not be liable
for any damages, costs, or losses, if such wastewater transmission line should fail, should use of
the line be interrupted or reduced, should the wastewater transmission line become defective, be
seriously impacted by an Act of God, a catastrophic disaster, action of the elements, a serious
flooding condition, accidents, strikes, labor problems, the breakdown of equipment, arising out
of a lawful order or action of a governmental authority having jurisdiction over the wastewater
transmission line and the Parties, or for any other cause beyond the reasonable control of Denton
2 The Parties agree that in no event shall Denton be liable in consequential damages
to Argyle hereunder for any force majeure event, as set forth in this paragraph VI
VII
NOTICE PROVISIONS
1 Any notice, request or other communication made by either party pursuant to this
Agreement shall be given in writing and shall be deemed to have been given by either party to
the other party at the addresses shown below upon any of the following dates
a The date of notice by telecopy or other similar telecommunications, the receipt of
which is confirmed promptly in writing by the recipient,
b The date of receipt stated on the return receipt showing the mailing thereof by
U S Mail, postage prepaid(as shown by the post office receipt if mailed to the other party hereto
by means of registered or certified mail, return receipt requested),
c The date of actual receipt of notice by the other party hereto, if not provided
pursuant to V l a or V 1 b heremabove
9
2 The addresses of the Parties for the purpose of providing the other party notices
under this Agreement shall be as follows, unless written notification of a change of address is
provided by either or both Parties to this Agreement
City Manager
City of Denton, Texas
215 East McKinney Street
Denton, Texas 76201
Mayor
City of Argyle, Texas
P O Box 609
Argyle, Texas 76226-0609
VIII
MEDIATION AND ALTERNATE DISPUTE RESOLUTION
The Parties agree that if any dispute arises under this Agreement, that they will, in good
faith, attempt to resolve such dispute in a reasonable and expedient manner The Parties
recognize that they should strongly consider settling any such dispute by submitting the dispute
to mediation or some other form of dispute resolution No mediation or other form of alternate
dispute resolution activity ansing out of, or relating to this Agreement, may be required or forced
by one party upon the other party, without the Parties' mutual agreement In the event that the
Parties agree that mediation or some other form of alternate dispute resolution is appropriate,
then they hereby agree to expedite such mediation or other alternate dispute resolution activity,
and further agree to each be responsible for one-half of all mediation or other alternate dispute
resolution activity fees and expenses incurred
IX
SEVERABILITY
If any clause, provision or paragraph of this Agreement should be held illegal or invalid
by any court, the invalidity of such clause, provision or paragraph shall not affect any of the
remaining clauses, provisions or paragraphs hereof, and this Agreement shall be construed and
enforced as if such illegal or invalid clause, provision or paragraph had not been contained
herein
IN WITNESS WHEREOF, the Parties have executed this Agreement in duplicate
original counterparts b and through the duly-authonzed officials and officers of Denton and
Argyle, on this the day of 12001
10
"DENTON"
CITY OF DENTON, TEXAS
A Texas Municipal Corporation
B A4-r�
Y
EULINE BROCK, MAYOR
ATTEST
JENNIFER WALTERS, CITY SECRETARY
By
AP OVED AS TO LEGAL FORM
HERBERT L PROUTY, CITY ATTORNEY
By
"ARGYLE"
CITY OF ARGYLE
A Texas Municipal Corporation
By
VONNE A E MAYOR
ATTEST
DEBBIE E MILLICAN, CITY SECRETARY
By
y°`r rT
APPROVED AS TO LEGAL FORM i
PATRICIA ADAMS, CITY ATTORNEY
.I V o.,
By Q����AQJ
S\Our Documents\Contracts\O I\Argyle Interlocal Cooperation Agreement-GB WW Line Rvs 021201 doe
lI
CONTRACT PAYMENT SCHEDULE
GRAVEYARD BRANCH WASTEWATER LINE
Start Date
7/1/01 r CITY OF ARGYLE
Annual
Pmnt Start of Interest Scheduled Actual Scheduled
# Period Rate Balance Balance Payment Interest Portion Principal Portion
1 07/01 5 61% 687 518 00 587,518 00 (28,813 39) (19,284 88) (9 528 51}
2 01/02 5 61% 6779894,19 677,989 49 28,813 39 19 017 61) (9 795 78
3 07/02 5 61% 668,193 71 668,193 71 28 813 39) 18 742 83) 10 070 55
4 01/03 561 658,123 16 658,123 16 (28 813 39 (18 460 35) 10 353 03
5 07/03 5 61% 64T,770 13 647,770 13 (28 813 39 {18,169 95) 10,643 43
6 01104 5 61to 637,126 70 837,126 70 (28,813 39) {17$71 40 10 941 98
7 07/04 5 61% 626'184 72 62$,184 72 (28 813 39) (17 564 48) (11 248 90
8 01/05 5 61% 81 (28,813 39) (17 248 95 (11 564 44)
9 07/05 5 61% 603,371 38 603,371 38 (28,813 39) (16,924 57) (11 888 82)
10 01/06 5 61% 591,482 56 591,482 56 (28,813 39) (16,591 09} 12 222 30)
11 D7/06 5 61% 579,260 26 579,260 26 (28 813 39) (1$,248 25 12,565 14
12 01/07 5 61°k 56$,695 12 566,695 12 (28,813 39 (15,895 80) 12 917 59
13 07/07 5 61% 553,7T7 54 553,777 54 (28 813 39) 15 533 46) 13 279 93)
14 01108 5 61% 540,497 61 540,497 61 28 813 39) (15,160 96) (13,652 43)
15 07/08 5 61% 526,845 18 526,845 18 28,813 39 14 778 01) 14 035 38
16 01/09 5 61% 512, 28 813 39 14 384 32 (14 429 07)
17 07/09 5 61% 498,380 73 498,380 73 28,813 39 (13 979 58) (14 833 81)
18 01/10 5 61% 93 (28,813 39) (13,563 49) (15,249 89)
19 07/10 5 6111% 468,297 03 468,297 03 (28,813 39) (13 135 73) (15,677 65
20 01/11 5 61% 452 619 38 452.619 38 (.2881339) (12,695 97) (16 117 41
21 07/11 56 % 436 5 11 97 436,501 97 (28 813 39) (12 243 88) (16 569 51
22 01/12 56 419, 28 813 39) (11 779 11) (17,034 28
23 07/12 5 61% 402, 28 813 39 (11 301 29) (17 512 09
24 01/13 5 61% 386,386 09 385,386 09 (28,813 39) (10 810 08) (18 003 31
25 07/13 5 61% 367,382 79 367,382 79 26 813 39) (10,305 09) (18,508 30)
26 01/14 5 61% 348,874 49 348,874 49 (28,813 39 (9 785 93) (19 027 46}
27 07/14 5 61% 329, 28 813 39) (9,252 21 19,561 18
28 01/15 5 61% 310.285 86 310,285 86 28,813 39) (8,703 52 (20,109 87)
29 07/15 5 61% 290 175 99 290.175 99 (28 813 39) (8 139 44 (20 673 95)
30 01/16 5 e11% 269,502 04 269,502 04 (28,813 39 (7 559 53j 21,253 85)
31 07/16 5 61% 248,248 19 248,248 19 28 813 39) B 983 36) 21,85D 02
32 01/17 5 61% 226 398 16 226,398 16 (28 813 39 {6 350 47 22,462 92)
33 07/17 5 61% 203,936 25 203, ) (5 720 38 (23,093 00)
34 01/18 5 61% 180,842 24 180,842 24 {26,813 39) 5,072 62 (23 740 76)
35 07/18 5 61% 157,101 48 157,101 48 (28,813 39) 4 406 70 (24,406 69}
36 01/19 5 61% 79 (28 813 39 {3,722 09) (25 091 30)
37 07119 5 61% 107,603 50 10( $03 50 (28,813 39 3,018 28) 25 795 11)
38 01120 5 61% 81,808 39 81,808 39 (28,813 39) (2 294 73) (26 518 66)
39 07120 561%1 55,289 73 55,289 73 1 (28,813 39) (1,550 88) 27,262 51
40 01/21 5 61% 28,027 22 28,027 22 28,813 38) (786 16) 28,027 22)
finencakwhisaWwwWayle final ww debt emon table xis
ARGYLE PAYMENT SCHEDULE-5 61% INTEREST RATE $ 687,518
Scheduled Principal
Payment Interest Portion Portion Interest Principal
(28,813 39) (19,284 88) (9,528 51)
(28,813 39) (19,017 61) (9,795 78) (38,302 49) (19,324 29)
(28,813 39) (18,742 83) (10,070 55)
(28,813 39) (18,460 35) (10,353 03) (37,203 19) (20,423 58)
(28,813 39) (18,169 95) (10,643 43)
(28,813 39) (17,871 40) (10,941 98) (36,041 36) (21,585 41)
(28,813 39) (17,564 48) (11,248 90)
(28,813 39) (17,248 95) (11,564 44) (34,813 43) (22,813 34)
(28,813 39) (16,924 57) (11,888 82) 33,515 65) (24,111 12)
(28,813 39) (16,591 09) (12,222 30)
(28,813 39) (16,248 25) (12,565 14)
(28,813 39) (15,895 80) (12,917 59) (32,144 05) (25,482 72)
(28,813 39) (15,533 46) (13,279 93)
(28,813 39) (15,160 96) (13,652 43) (30,694 42) (26,932 35)
(28,813 39) (14,778 01) (14,035 38)
(28,813 39) (14,384 32) (14,429 07) (29,162 32) (28,464 45)
(28,813 39) (13,979 58) (14,833 81)
(28,813 39) (13,563 49) (15,249 89) (27,543 07) (30,083 70)
(28,813 39) (13,135 73) (15,677 65)
(28,813 39) (12,695 97) (16,117 41) (25,831 71) (31,795 07)
(28,813 39) (12,243 88) (16,56951) 24,022 99) (33,603 79)
(28,813 39) (11,779 11) (17,034 28)
(28,813 39) (11,301 29) (17,512 09)
(28,813 39) (10,810 08) (18,003 31) {22,111 37) (35,515 40)
(28,813 39) (10,305 09) (18,508 30)
(28,813 39) (9,785 93) (19,027 46) (20,091 02) (37,535 75)
(28,813 39) (9,252 21) (19,561 18)
(28,813 39) (8,703 52) (20,109 87) (17,955 73) (39,fi71 04)
(28,813 39) (8,139 44) (20,673 95)
(28,813 39) (7,559 53) (21,253 85) (15,698 97) {41,927 80)
(28,813 39) (6,963 36) (21,850 02)
(28,813 39) (6,350 47) (22,462 92) (13,313 83) (44,312 94)
(28,813 39) (5,720 38) (23,093 00)
(28,813 39) (5,072 62) (23,740 76) (10,793 01) (46,833 76)
(28,813 39) (4,406 70) (24,406 69)
(28,813 39) (3,722 09) (25,091 30) (8,128 79) (49,497 99)
(28,813 39) (3,018 28) (25,795 11)
(28,813 39) (2,294 73) (26,518 66) (5,313 00) (52,313 77)
(28,813 39) (1,550 88) (27,262 51)
(28,813 38) (786 16) (28,027 22) (2,337 04) (55,289 73)
1,152,535 42 465,017 42 687,518 00 (465,017 42) (687,518 00)
J
Q
to
NN M dam'
W LO O O
GO LO
a
E c
W a`i3 � a co
O o cam- a� n- a
T (�
m °�' � -
L �a
c c >. � Q�
�•• 0% V W 5
Z a
LU J w 00
O o04
>Q r- �
c� a w
J W -'
H o c c
yca
o 0
-a
J O c
o � (D c
c
u � c
all � o
md� m . � � �
CITY OF ARGYLE - GB
GRAVEYARD BRANCH WASTEWATER LINE
Old Versus New Debt Payments
QLQ ILE& ME E
Project Cost $ 599,761 $ 642,000 $ 42,239
Bond Financing Costs $ 42,523 $ 45,518 $ 2,995
Total Project Cost $ 642,284 $ 687,518 $ 45,234
7 Year Payment Total $ 376,847 $ 403,382 $ 26,535
Payoff balance after 7 Years $ 492,182 $ 526,645 $ 34,463
Less Pll on bond deposit $ - $ (24,070) $ (24,070)
Less Interest earned $ - $ (5,896) $ (5,896)
Less Bond deposit balance S - $ 31,437
Total Payoff Amount $ 492,182 $ 465,242 $ (26,940)
Net Cost (7 year payments
plus payoff) $ 869,029 $ $68,624 $ (405)
Note Bond deposit amount $ 38,325 $ 41,024 $ 2,699
Other bond selling costs $ 4,198 $ 4,494 $ 296
$ 42,523 $ 45,518 $ 2,995
flnancelwhlsalelw\Argyle old versus new payments