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Utility Debt Service
Utility debt is supported by utility revenues, and water and sewer impact fees.
| Combined Water Sewer Debt Schedule | |||
|---|---|---|---|
| Fiscal Year | Principal Due | Interest Due | Total Interest & Penalty |
| 2018 | 550,000 | 161,631 | 711,631 |
| 2019 | 570,000 | 145,919 | 715,919 |
| 2020 | 590,000 | 128,975 | 718,975 |
| 2021 | 405,000 | 109,675 | 514,675 |
| 2022 | 415,000 | 96,937 | 511,938 |
| 2023 | 440,000 | 83,606 | 523,606 |
| 2024 | 455,000 | 69,119 | 524,119 |
| 2025 | 465,000 | 53,856 | 518.856 |
| 2026 | 170,000 | 42,662 | 212,662 |
| 2027 | 180,000 | 35,662 | 215,662 |
| 2028 | 185,000 | 28,363 | 213,363 |
| 2029 | 195,000 | 20,763 | 215,763 |
| 2030 | 200,000 | 12,763 | 212,763 |
| 2031 | 210,000 | 4,331 | 214,331 |
| Total | 5,030,000 | 994,262 | 6,024,262 |
Click on the tabs to see detailed payment schedules for all water sewer bond series.
2011A General Obligation Refunding, Taxable Series
Original Issue Amount: $1,635,000
Original Date of Issue: August 2, 2011
Maturity Date: February 15, 2031
Interest savings from this refunding will be $409,217.
Use of Bond Proceeds
Proceeds from the sale of the Taxable Bonds are expected to be used to (i) refund the Tax and Waterworks and Sewer System Surplus Revenue Certificates of Obligation, Taxable Series 2000A as described on Schedule II
{In the Official Statement} ... for debt savings; and (ii) pay the costs associated with the issuance of the taxable bonds.
Tax & Waterworks & Sewer System (Limited Pledge) Revenue Certificates of Obligation, Series 2000A
Principal Amount Refunded: $1,535,000
Interest Savings: $409,217
All of the proceeds from the 2011A General Obligation Refunding have been spent.
| Series 2011A General Obligation Refunding Payment Schedule | |||
|---|---|---|---|
| Fiscal Year | Principal | Interest | Total Principal & Interest |
| 2018 | 185,000 | 19,631 | 204,631 |
| 2019 | 195,000 | 14,081 | 209,081 |
| 2020 | 200,000 | 7,500 | 207,500 |
| Total | 580,000 | 41,213 | 621,213 |
2011 Tax & Waterworks & Sewer System (Limited Pledge) Revenue Certificates of Obligation
Original Issue Tax-Supported Amount: $2,990,000 (6,675,000 total issue)
Original Date of Issue: August 2, 2011
Maturity Date: February 15, 2031
Use of Bond Proceeds
Proceeds from the sale of the Certificates will be used for (a) street improvements, including drainage, curbs, gutters, bridges, utility line relocation, traffic signalization, and the acquisition of land and rights-of-way therefor; (b) park and recreation facilities, including acquisition of land therefor; (c) animal control facilities; (d) professional services rendered in connection with (1) such projects and the financing thereof and (2) the design of a new fire station; and (e) cost of issuance associated with the sale of the Certificates.
FM 740 & FM 741 Utility Relocation
Total Project Cost: $3,105,752
2011 Certificate of Obligation Allocation: $2,990,000
Completion Date: February 2011
All of the proceeds from the 2011 Certificates of Obligation have been spent.
| Series 2011 Certificates of Obligation: Revenue Supported Payment Schedule | |||
|---|---|---|---|
| Fiscal Year | Principal Due | Interest Due | Total Principal & Interest |
| 2018 | 130,000 | 82,653 | 216,563 |
| 2019 | 130,000 | 82,663 | 212,663 |
| 2020 | 135,000 | 78,688 | 213,688 |
| 2021 | 140,000 | 73,863 | 213,863 |
| 2022 | 145,000 | 68,163 | 213,163 |
| 2023 | 155,000 | 62,163 | 217,163 |
| 2024 | 160,000 | 55,863 | 215,863 |
| 2025 | 165,000 | 49,363 | 214,363 |
| 2026 | 170,000 | 42,663 | 212,663 |
| 2027 | 180,000 | 35,663 | 215,663 |
| 2028 | 185,000 | 28,363 | 213,363 |
| 2029 | 195,000 | 20,763 | 215,763 |
| 2030 | 200,000 | 12,763 | 212,763 |
| 2031 | 210,000 | 4,331 | 214,331 |
| Total | 2,300,000 | 701,869 | 3,001,869 |
2014 General Obligation Refunding
Original Issue Revenue Supported Amount: $1,291,891 ($3,440,000 total issue)
Original Date of Issue: November 4, 2014
Maturity Date: February 15, 2025
Interest savings from this refunding will be $126,027.
Use of Bond Proceeds
Proceeds from the sale of the Bonds will be used (i) to refund a portion of the City's outstanding debt (the Refunded Obligations) as described on Schedule I
{in the Official Statement} and (ii) to pay the costs of issuance associated with the sale of the Bonds..
Tax & Waterworks & Sewer System Surplus Revenue Certificates of Obligation, Series 2005A
Principal Amount Refunded: $1,291,891
Interest Savings: $126,027
Proceeds from the 2005A Certificates of Obligation funded:
- Broad Street Water Line
- Buffalo Creek Sewer Connection and Lift Station Elimination
- Elevated Water Storage
- Knox Sewer Connection and Lift Station Elimination
- Pacific Sewer Connection and Lift Station Elimination
- Replace Sewer Line North of Highway 80 between FM 740 and FM 548
- Trinity and Main Street Sewer
- Trinity Sewer Connection and Lift Station Elimination
All proceeds from the 2014 General Obligation Refunding have been spent.
| Series 2014 General Obligation Refunding Payment Schedule | |||
|---|---|---|---|
| Fiscal Year | Principal Due | Interest Due | Total Principal & Interest |
| 2018 | 115,000 | 26,025 | 141,025 |
| 2019 | 120,000 | 22,213 | 142,213 |
| 2020 | 125,000 | 18,538 | 143,538 |
| 2021 | 130,000 | 14,713 | 144,713 |
| 2022 | 130,000 | 11,463 | 141,463 |
| 2023 | 140,000 | 8,588 | 148,588 |
| 2024 | 145,000 | 5,381 | 150,381 |
| 2025 | 150,000 | 1,869 | 151,869 |
| Total | 1,055,000 | 108,787 | 1,163,787 |
2014A General Obligation Refunding
Original Issue Revenue Supported Amount: $1,350,000
Original Date of Issue: November 4, 2014
Maturity Date: February 15, 2025
Interest savings from this refunding will be $204,207.
Use of Bond Proceeds
Proceeds from the sale of the Taxable Bonds will be used (i) to refund a portion of the City's outstanding debt (the "Refunded Obligations") as described on Schedule II
{in the Official Statement} and (ii) to pay the costs of issuance associated with the sale of the Taxable Bonds...
Tax & Waterworks & Sewer System Surplus Revenue Certificates of Obligation, Series 2005B
Principal Amount Refunded: $1,285,000
Interest Savings: $204,207
Proceeds from the 2005B Certificates of Obligation funded:
- A portion of Pump Station #2
Bond Issuance
Total Cost: $65,000
All proceeds from the 2014A General Obligation Refunding have been spent.
| Series 2014A General Obligation Refunding Payment Schedule | |||
|---|---|---|---|
| Fiscal Year | Principal | Interest | Total Principal & Interest |
| 2018 | 120,000 | 29,413 | 149,413 |
| 2019 | 125,000 | 26,963 | 151,963 |
| 2020 | 130,000 | 24,250 | 154,250 |
| 2021 | 135,000 | 21,100 | 156,100 |
| 2022 | 140,000 | 17,313 | 157,313 |
| 2023 | 145,000 | 12,856 | 157,856 |
| 2024 | 150,000 | 7,875 | 157,875 |
| 2025 | 150,000 | 2,625 | 152,625 |
| Total | 1,095,000 | 142,394 | 1,237,394 |