Download - 2014 Bond Sale and Re-funding
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City of College Station
City of College Station
2014 Bond Sale and Refunding
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City of College Station
Outline
Negotiated Sale
2014 Bond Issue
First Southwest Presentation
Staff Recommendations
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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
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City of College Station
2014 Bond Sale (new money)
General Obligation Bonds
• General Government Project– Library Expansion $ 500,000
General Government Total $500,000
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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
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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
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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
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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
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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.
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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
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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
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City of College Station
City of College Station
First Southwest Presentation
Kristin Blomquist, Associate
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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.
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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.
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City of College Station
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