2014 Bond Sale and Re-funding
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2014 Bond Sale and Re-funding

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2014 Bond Sale and Re-funding Presentation Transcript

  • 1. City of College Station City of College Station 2014 Bond Sale and Refunding
  • 2. City of College Station Outline  Negotiated Sale  2014 Bond Issue  First Southwest Presentation  Staff Recommendations
  • 3. 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
  • 4. City of College Station 2014 Bond Sale (new money) General Obligation Bonds • General Government Project – Library Expansion $ 500,000 General Government Total $500,000
  • 5. 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
  • 6. 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
  • 7. 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
  • 8. 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
  • 9. 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.
  • 10. 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
  • 11. 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
  • 12. City of College Station City of College Station First Southwest Presentation Kristin Blomquist, Associate
  • 13. 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.
  • 14. 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.
  • 15. City of College Station Questions ?