2014 bond sale and re-funding
TRANSCRIPT
City of College Station
City of College Station
2014 Bond Sale and Refunding
City of College Station
Outline
Negotiated Sale
2014 Bond Issue
First Southwest Presentation
Staff Recommendations
City of College Station
Negotiated Sale
• Negotiated Sale Underwriters are chosen through an RFP process Maximum bond par parameters are set Maximum interest rate and maturities are set for
new money Must have at least a 5% net present value savings
on refunded bond Mayor, Interim City Manager or Assistant City
Manager is given authority to execute sale through adoption of Bond Ordinance
City of College Station
2014 Bond Sale (new money)
General Obligation Bonds
• General Government Project– Library Expansion $ 500,000
General Government Total $500,000
City of College Station
2014 Bond Sale (new money)
General Obligation Bonds
• Street Projects– Traffic Signals $ 1,100,000– University Dr. Ped. Imp PHII
2,750,000– Lick Creek Hike and Bike Trail 3,760,000
Streets Total $ 7,610,000
City of College Station
2014 Bond Sale (new money)
General Obligation Bonds• Parks and Recreation Projects
– Lick Creek Park Nature Center $ 2,045,000– Lincoln Center Addition 3,315,000 – NH Park Revolving Fund 220,000
Parks and Recreation Total $ 5,580,000
General Obligation Bond Total $13,690,000
City of College Station
2014 Bond Sale (new money)
Certificates of Obligation
• General Government Project– ERP System Replacement $3,325,000– CAD/RMS Replacement 1,540,000– Electronic Storage System 240,000
General Government Total $5,105,000
City of College Station
2014 Bond Sale (new money)
Certificates of Obligation
• Street Projects– U-Turns @ Univ and SH6 $ 300,000– Rehab Projects
4,660,000(BP to Sonebrook, Luther St, Graham Rd, Francis Dr.)
– Rock Prairie Rd Widening 1,980,000
Street Total $6,940,000
City of College Station
2014 Bond Sale (new money)
Certificates of Obligation
• Electric Projects $ 8,750,000• Water Projects 6,500,000• Wastewater Projects 11,400,000• Debt Issuance Cost* 300,000
Certificates of Obligation Total $26,650,000
*Debt Issuance cost is 0.30% of the total bond issue and refunding.
City of College Station
2014 Bond Sale (new money)
New Money Total
• General Obligation Bonds $13,690,000• Certificates of Obligation $38,995,000
Total $52,685,000
City of College Station
2014 Bond Sale (Refunding)
Recommended Refunding
• 2006 Bonds (GO/CO/URB) $19,260,000• Portion of 2005A Bonds (URB Ref.) $ 3,425,000
Total $22,685,000
City of College Station
City of College Station
First Southwest Presentation
Kristin Blomquist, Associate
City of College Station
2014 Bond Sale and Refunding
• Staff Recommendations– Approval of the Ordinance authorizing the
issuance of the General Obligation Improvement and Refunding Bonds, Series 2014;
– Delegating the authority to certain City Officials to execute certain documents relating to the sale of the Bonds;
– Approving and authorizing instruments and other procedures relating to said bonds; and
– Enacting other provisions relating to the subject.
City of College Station
2014 Bond Sale and Refunding
• Staff Recommendations– Approval of the Ordinance authorizing the
issuance of the Certificates of Obligation, Series 2014;
– Delegating the authority to certain City Officials to execute certain documents relating to the sale of the Bonds;
– Approving and authorizing instruments and other procedures relating to said bonds; and
– Enacting other provisions relating to the subject.
City of College Station
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