2013 Bond Sale and Refunding

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2013 Bond Sale and Refunding

  1. 1. City of College StationCity of College Station2013 Bond Sale andRefunding
  2. 2. City of College StationOutline Negotiated Sale 2013 Bond Issue First Southwest Presentation Staff Recommendations
  3. 3. City of College StationNegotiated Sale• Negotiated SaleUnderwriters are chosen through an RFP processMaximum bond par parameters are setMaximum interest rate and maturities are set fornew moneyMust have at least a 5% net present value savingson refunded bondMayor, Interim City Manager or ExecutiveDirector of Business Services is given authority toexecute sale through adoption of Bond Ordinance
  4. 4. City of College Station2013 Bond Sale (new money)General Obligation Bonds• Streets– Street Projects $4,975,000(Penberthy Ext., HSC Pkwy., Barron Rd. E.)– Traffic Signals 650,000– University Dr Pedestrian Imp 500,000– Lick Creek Hike and Bike Trail 400,000Streets Total $6,525,000
  5. 5. City of College Station2013 Bond Sale (new money)General Obligation Bonds• Parks and Recreation– East District Maintenance Shop $1,645,000– Lick Creek Park Nature Center 350,000– Creakview NH Park 480,000– Lincoln Center Addition 250,000Parks and Recreation Total $2,275,000General Obligation Bond Total $9,250,000
  6. 6. City of College Station2013 Bond Sale (new money)Certificates of Obligation• Electric Projects- Underground System Imp $800,000- New Services and System Ext 1,020,000- Distribution Projects 670,000- Transmission Projects 940,000- Northgate Substation 4,820,000• Electric Projects Total $8,250,000
  7. 7. City of College Station2013 Bond Sale (new money)Certificates of Obligation• Wastewater Projects- Bee Creek Parallel Trunkline $2,000,000• Debt Issuance Cost* 200,000Certificates of Obligation Total $10,450,000*Debt Issuance cost is 0.10% of the total bond issue and refunding.
  8. 8. City of College Station2013 Bond Sale (new money)New Money Total• General Obligation Bonds $9,250,000• Certificates of Obligation $10,450,000Total $19,700,000
  9. 9. City of College Station2013 Bond Sale (Refunding)Recommended Refunding• 2005 Bonds (GO/CO/URB) $11,430,000• Portion of 2005A Bonds (URB Ref.) $ 1,210,000Total $12,640,000
  10. 10. City of College StationCity of College StationFirst SouthwestPresentationDrew Masterson, Managing Director
  11. 11. City of College Station2013 Bond Sale and Refunding• Staff Recommendations– Approval of the Ordinance authorizing theissuance of the General ObligationImprovement and Refunding Bonds, Series2013.– Approval of the Ordinance authorizing theissuance of the Certificates of Obligation, Series2013.
  12. 12. City of College StationQuestions ?

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