2014 Bond Sale and Re-funding

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2014 Bond Sale and Re-funding

  1. 1. City of College Station City of College Station 2014 Bond Sale and Refunding
  2. 2. City of College Station Outline  Negotiated Sale  2014 Bond Issue  First Southwest Presentation  Staff Recommendations
  3. 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. 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. 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. 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. 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. 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. 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. 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. 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. 12. City of College Station City of College Station First Southwest Presentation Kristin Blomquist, Associate
  13. 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. 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. 15. City of College Station Questions ?

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