HomeMy WebLinkAbout1991-03-25 Regular Meeting• •
MINUTES OF THE REGULAR MEETING OF LA PORTE CITY COUNCIL
MARCH 25, 1991
1. The meeting was called to order by Mayor Malone at 6:00 P.M.
Members of Citv Council Present: Mayor Norman Malone,
Councilperson Guy Sutherland, Mike Cooper, Ed Matuszak, Bob
McLaughlin, Alton Porter, Deotis Gay, B. Don Skelton, Jerry
Clarke
Members of Citv Council Absent:
Members of Citv Staff Present: City Manager Bob Herrera, City
Attorney Knox Askins, Assistant to the City Secretary Sue
Lenes, Finance Director Jeff Litchfield, Parks Maintenance
Superintendent Bert Clark
Others Present: David Fetzer, Pete Fisher, Moroney, Beissner
& Co., Inc.; Jerry McManus, Frank Fogarty, Ryan Walsh, Inc.;
Bud Giesinger, Don Adam, K.P.M.G. Pete Marwick
2. The invocation was given by Mayor Malone.
3. Council considered approving minutes of the regular meeting
of Council held March 25, 1991.
Motion was made by Councilperson Skelton to approve the March
11 minutes as presented. Second by Councilperson Cooper. The
motion carried, 8 ayes, 0 nays, and 1 abstain.
Ayes: Councilpersons Sutherland, Cooper, Matuszak,
McLaughlin, Porter, Skelton, Clarke and Mayor Malone
Nays: None
Abstain: Councilperson Gay
4. There were no citizens wishing to address Council.
Councilperson Gay recommended that Item it should be moved
forward on the Agenda. Mayor and Council were in agreement.
• •
Minutes, Regular Meeting, La Porte City Council
March 25, 1991, Page 2
11. Council considered resolution authorizing advance refunding
for certain of the City's General Obligation and Water and
Sewer Revenue Bonds.
City Manager Bob Herrera explained that the City has the
opportunity to save approximately $350,000.00 in interest over
the next fifteen years if Council gives direction to
authorizing advance refunding for the referenced General
Obligation and Water and Sewer Revenue Bonds. Mr. Herrera
introduced Mr. David Fetzer and Mr. Pete Fisher of Moroney,
Beissner & Co., Inc., Financial Advisors to the City of La
Porte. Refunding Analysis booklets which had been prepared
as an explanation to Council, were handed out. Mr. David
Fetzer presented an overview of the analysis and responded to
questions from Council. Mr. Fetzer explained to Council that
Moroney, Beissner & Co., Inc., at this time was asking for
their permission to proceed with the planned savings program
and stated that his firm will return within thirty (30) days
with the actual savings opportunity for the City of La Porte
and that Council can, at that time, determine if they want to
proceed with the refunding.
Finance Director Jeff Litchfield explained in detail the
savings and advantages to the City of La Porte by authorizing
our Financial Advisors to move forward and answered questions
from members of Council.
The City Attorney read: RESOLUTION 91-06 - RESOLUTION
AUTHORIZING ADVANCE REFUNDING FOR CERTAIN OF THE CITY'S
GENERAL OBLIGATION AND WATER AND SEWER REVENUE BONDS.
Motion was made. by Councilperson Skelton to an~rove
Resolution 91-06 as read by the City Attorney. Second by
Councilperson Gay. The motion carried, 9 ayes and 0 nays.
Ayes: Councilpersons Sutherland, Cooper, Matuszak,
McLaughlin, Porter, Gay, Skelton, Clarke and Mayor
Malone
Nays: None
• •
Minutes, Regular Meeting, La Porte City Council
March 25, 1991, Page 3
5. Consider Request of Ryan Walsh Company, Inc., for rail turnout
easement across City-owned property at North Broadway and "N"
Streets.
Mr. Jerry McManus, Ryan Walsh, Inc. , addressed the Council and
described a project taking place in Morgan's Point and the
impact our City-owned property has in their future plans for
expansion. City Manager Bob Herrera stated that the City will
have to address the problem of conversion of the Mini-bike
Park and he will have to visit with the Parks and Wildlife
Department to start the process.
6. Presentation of 1990 Comprehensive Annual Financial Report.
Finance Director Jeff Litchfield introduced Bud Giesinger and
Don Adam, K.P.M.G. Pete Marwick, Auditors for the City of La
Porte. Copies of the Comprehensive Annual Financial Report
for the Fiscal Year Ended September 30, 1990 were passed to
the Council for review. Mr. Giesinger spoke to Council and
stated in his firm's opinion, is fairly presented in all
material respects in relation to the general purpose financial
statements. Mr. Giesinger stated to Council that the City of
La Porte had received a Certificate of Achievement for
Excellence in Financial Reporting 89. Mr. Giesinger reminded
Council that the City had received this award for nine years
and that we are applying for the same for 1990. Mr. Herrera
commended Jeff Litchfield and his staff on a job well done.
The Mayor declared a Workshop at 7:18 to discuss item 7.
7. Workshop item: Ordinance changing method of calculating
residential sewer charges.
Finance Director Jeff Litchfield gave an explanation to
Council for the proposed change and the impact it would have
on our "Over 65 and Fixed Income with Families."
Workshop was closed at 7:28
8. Council considered ordinance amending Chapter 26, Article II,
Water, And Sewer Disposal," of the Code of Ordinances which
was tabled by Councilperson Skelton at the March 11 meeting.
• •
Minutes, Regular Meeting, La Porte City Council
March 25, 1991, Page 4
The City Attorney read: ORDINANCE NO. 1748 - ORDINANCE
AMENDING CHAPTER 26, ARTICLE II, "WATER, SEWER AND DISPOSAL,"
OF THE CODE OF ORDINANCES OF THE CITY OF LA PORTE.
Motion was___made by Councilperson McLaughlin to anvrove
Ordinance #1748 as read by the City Attorney. Second by
Councilperson Sutherland. The motion carried, 9 ayes and 0
nays.
Ayes: Councilpersons Sutherland, Cooper, Matuszak,
McLaughlin, Porter, Gay, Skelton, Clarke and Mayor
Malone
Nays: None
9. Council considered ordinance authorizing acceptance of
donation from Fairmont Park Homes Association, Inc., of
swimming pool and 1.284 acres of land.
The City Attorney read: ORDINANCE NO. 1750 - ORDINANCE
AUTHORIZING ACCEPTANCE OF DONATION FROM FAIRMONT PARK HOMES
ASSOCIATION, INC., OF SWIMMING POOL AND 1.284 ACRES OF LAND.
1750 as read by the City Attorney and to appropriate 550,000
from the General Fund Contingency Account for unbudgeted
start-up cost. Second by Councilperson Clarke.
The original motion carried, 8 ayes and 0 nays and 1 abstain.
Ayes: Councilpersons Sutherland, Cooper, Matuszak,
Mclaughlin, Gay, Skelton, Clarke and Mayor Malone
Nays: None
Abstain: Councilperson Porter
died due to lack of a second.
• •
Minutes, Regular Meeting, La Porte City Council
March 25, 1991, Page 5
10. Council considered ordinance 1751, closing 17th Street between
block 1175 and 1176, Town of La Porte.
The City Attorney read: ORDINANCE NO. 1751, AN ORDINANCE
VACATING, ABANDONING AND CLOSING A PORTION OF SOUTH 17TH
STREET, IN THE TOWN OF LA PORTE, HARRIS COUNTY, TEXAS; FINDING
COMPLIANCE WITH THE OPEN MEETINGS LAW; AND PROVIDING AND
EFFECTIVE DATE HEREOF.
Motion was made by Councilperson Clarke to atiprove Ordinance
No. 1751 as read by the Citv Attorney. Second by
Councilperson Porter. (Councilperson Cooper was out of the
room during the vote.) The motion carried, 8 ayes and 0 nays.
Ayes: Councilpersons Sutherland, Matuszak, McLaughlin,
Porter, Gay, Skelton, Clarke and Mayor Malone
Nays: None
12. Council considered approving refunds for overpayment of taxes
in excess of $500.00.
Director of Finance Jeff Litchfield addressed Council
regarding this item.
Motion was made by Councilperson McLaughlin to approve refunds
for overpayment of taxes in excess of 5500.00. Second by
Councilperson Clarke. The motion carried, 9 ayes and 0 nays.
Ayes: Councilpersons Sutherland, Cooper, Matuszak,
McLaughlin, Porter, Gay, Skelton, Clarke and Mayor
Malone
Nays: None
13. council considered endorsement of proposed Harris County
Mayors' and Councils' Association resolution which opposed
Senate Bill 179.
City Manager Bob Herrera addressed Council regarding this
matter.
Motion was made by Councilperson Skelton to endorse the
proposed Harris County Mayors' and Councils' Association
resolution which opposes Senate Bill 179. Second by
Councilperson Clarke. The motion carried 9 ayes and 0 nays.
Ayes: Councilpersons Sutherland, Cooper, Matuszak,
McLaughlin, Porter, Gay, Skelton, Clarke and Mayor
Malone
Nays: None
Minutes, Regular Meeting, La Porte City Council
March 25, 1991, Page 6
14. Administrative Reports - City Manager Bob Herrera stated that
the EPA has completed its reconciliation of our account and
the City has received a cash reimbursement of $134,086.
15. Council Action - Councilpersons Sutherland, Cooper, Matuszak,
McLaughlin, Porter, Gay, Skelton, Clarke and Mayor Malone
brought items to Council's attention.
16. There was no executive session.
17. There being no further business to come before the Council,
the meeting was duly adjourned at 8:04 P.M.
Respectfully submitted:
Sue Lenes, Assistant to the
City Secretary
Passed & Approved this the
8th ay of April, 1991
No an L. Malone, Mayor
• •
REQUEST FOR CITY COUNCIL AGENDA ITEM
AGENDA DATE REQUESTED March 25, 1991
REQUESTED BY Jeff Litchfield DEPARTMENT Director of Finance
REPORT RESOLUTION XX ORDINANCE
EXHIBITS: Ordinance
Report
SUMMARY AND RECOMMENDATION
At the Council meeting on March 11, 1991, Council was presented with an
ordinance that would change the method of calculating sewer charges for
residential customers.
Staff believes that the diversity of our customer base and our proximity to
the coast makes the current system undesirable. Staff has estimated that
continuation with the current system will have the affect of rasing sewer
rates by 5.26 percent.
Staff had proposed a method whereby sewer rates would be determined based on
85$ of each months water consumption and that the sewer bill have an
established cap for any individual month.
The ordinance was tabled until further information could be gathered that
isolated our customers that are over 65 years of age (Senior Citizens). I
have attached a report and Exhibit that shows the impact on a sample of our
Senior Citizens. The results of the sample indicate that Senior Citizens will
benefit by the change to the proposed method.
Councilman Sutherland had me explore the possibility of providing a monthly
cap lower than the $40.00 that I originally proposed. Upon further review, I
believe that the City can maintain financial integrity in the Utility Fund
with a monthly cap of $37.50.
The attached ordinance is for the change in the method of calculating the
sewer charge for residential customers only; it does not affect the
calculation of multiple units or commercial accounts nor does it have a major
impact, either positive or negative, on .the financial condition of the Utility
Fund.
ACTION REQUIRED BY COUNCIL:
Approve Ordinance changing the method of calculating the residential sewage
charge to be based on 85$ of the water consumption and at no time to exceed
$37.50 in any given month.
AVAILABILITY OF FUNDS:
GENERAL FUND
UTILITY FUND
OTHER
ACCOUNT NUMBER: N/A FUNDS AVAILABLE:
YES NO
APPROVED FOR CITY COUNCIL AGENDA
Q~~ T. a ~ ~1-~~
ROBERT T HERRERA DATE
CITY MANAGER
CITY OF LA PORTE
INTER-OFFICE MEMORANDUM
T0: Robert T. Herrera, City Manager
FROM: Jeff Litchfield, Director of Fina
Date: March 18, 1991
SUBJECT: Request by Councilman Skelton
At the March 11, 1991 City Council Meeting, I presented Council with an
Ordinance that would change our method of calculating sewer for residential
customers.
As explained to you earlier, I believe the current method will increase costs
to our current customer base because of the upwards shift in the "winter
average".
At the March 11, 1991 meeting, Councilman Skelton stated that he wanted me to
provide him with examples of the impact on the citizens that are over 65 years
of age. The examples that I had prepared related to water customers as a
whole and did not specifically relate to one segment of users. I did not have
any examples prepared for over 65 customers. Councilman Skelton tabled the
ordinance until I could provide examples of the impact on senior citizens.
Councilman Skelton's request is not an easy one to respond to. I have no way
of knowing the age of our water customers from our utility system. Because of
this, I had to go outside of the utility system to define my population. The
best thing I could think of was the tax system.
I extracted all records from the tax system that had the over 65 exemption. I
found that there were 729 accounts that had the exemption. From this
population, I extracted a sample of 73 or 10$ of the population. The sample
was determined by using Lotus software to pick 73 random numbers between one
and 729. For the 73 items that were selected, I calculated the following
numbers:
1. What they paid last year, (referred to as old rate),
2. What they will be paying, once we update the bills, if we remain
under the current system, (referred to as the new rate), and
3. What they would have paid last year if the proposed system had
been in place, (referred to as the proposed rate).
• •
Attached as Exhibit 1 is a listing of the sample items as well as the three
numbers mentioned above.
The following information was extracted from the sample calculations, (unless
otherwise indicated, all numbers are annual).
The average sewer bill that was paid last year $ 201.45
The average sewer bill if we continue with the current
method into the new year $ 212.82
The percentage increase if we continue with the current
method 5.64$
The average sewer bill if we change to the proposed method $ 210.35
The percentage increase if we change to the proposed method 4.42$
As you can see, the sample of 108 of the over 65 accounts will incur an
increase under either method. While the above numbers represent averages, I
think it is important to show you the actual variances for the items at the
extreme ends of the differences.
The sample item which will have the largest reduction if we stay with the
current plan is sample item number 21. They will have a drop of $96.36 for
the year. If we go with the proposed plan, their drop will only be $67.49.
The sample item which will have the largest gain if we stay with the current
plan is sample item number eight. They will have an increase of $216.36 for
the year. If we go with the proposed plan, their increase will only be
$108.41.
The sample item which will have the largest reduction if we go with the
proposed plan is sample item 62. They will have a decrease of $72.64. If we
stay with the current plan, their decrease will only be $58.08.
The sample item which will have the largest gain if we stay with the current
plan is sample item number eight. This account was also the account that had
the largest gain under the current plan and is discussed above.
If you look at the data in detail, you can see that there is no systematic
trend in the increases or decreases.
My recommendation to change the method of calculating sewer charges remains
the same after reviewing the over 65 information. Its' impact on the over 65
sample of 73 accounts was to provide a 1.228 decrease as shown in the
calculations.
To switch gears, I would like to provide you with information pertaining to
the tax system. While I had all of the information extracted for the tax
accounts that had over 65 exemptions, I ran a few numbers on the data.
As background information, the City of La Porte offers a homestead exemption
of 20$ of the appraised value to all residents and an over 65 exemption of up
to $60,000 of appraised value for our senior citizens.
The total appraised value of the 729 accounts with over 65 exemptions is
$30,473,130. If these accounts did not have the exemption, they would
generate tax revenue to the City of $216,359.12.
A total of 92.2$ of these accounts pay no taxes at all to the City of La Porte
and the remaining 7.8$ pay a total of $11,873.63. This means that we give the
over 65 accounts a total exemption of $204,485.49 or $280.50 each.
• •
EXHIBIT 1
COMPARISON OF SEWER CHARGES FOR OVER 65 CUSTOMERS
< - -DIFFERENCES - - >
SECELTION OLD NEW PROPOSED OLD VS OLD VS
ORDER RATE RATE RATE NEW RATE PROPOSED
1 143.40 171.36 162.22 27.96 18.82
2 217.80 327.60 288.50 109.80 70.70
3 223.80 249.96 223.00 26.16 (0.80)
4 220.80 217.80 218.79 (3.00) (2.01)
5 217.80 293.64 251.62 75.84 33.82
6 339.84 303.48 347.16 (36.36) 7.32
7 143.40 174.00 193.08 30.60 49.68
8 179.16 395.52 287.57 216.36 108.41
9 232.68 163.32 210.36 (69.36) (22.32)
10 232.68 167.76 180.64 (64.92) (52.04)
11 220.80 308.88 225.85 88.08 5.05
12 143.40 175.80 192.85 32.40 49.45
13 143.40 224.04 215.42 80.64 72.02
14 188.04 216.96 206.34 28.92 18.30
15 232.68 341.04 297.42 108.36 64.74
16 164.28 201.72 193.82 37.44 29.54
17 152.28 164.28 176.15 12.00 23.87
18 143.40 143.40 164.33 0.00 20.93
19 143.40 143.40 152.24 0.00 8.84
20 158.28 190.08 204.38 31.80 46.10
21 244.56 148.20 177.07 (96.36) (67.49)
22 205.92 181.20 200.24 (24.72) (5.68)
23 196.92 208.92 197.28 12.00 0.36
24 143.40 143.40 148.66 0.00 5.26
25 235.68 183.00 202.55 (52.68) (33.13)
26 152.28 143.40 153.91 (8.88) 1.63
27 366.60 333.84 316.12 (32.76) (50.48)
28 149.40 154.44 184.99 5.04 35.59
29 143.40 143.40 147.61 0.00 4.21
30 205.92 189.24 202.14 (16.68) (3.78)
31 143.40 143.40 143.50 0.00 0.10
32 390.36 372.24 377.41 (18.12) (12.95)
33 164.28 190.08 183.68 25.80 19.40
34 155.28 143.40 151.48 (11.88) (3.80)
35 173.16 155.28 170.23 (17.88) (2.93)
36 155.28 143.40 146.55 (11.88) (8.73)
37 211.80 262.44 240.93 50.64 29.13
38 196.92 229.44 249.58 32.52 52.66
39 241.56 268.68 248.09 27.12 6.53
40 217.80 274.92 221.31 57.12 3.51
i •
EXHIBIT 1
COMPARISON OF SEWER CHARGES FOR OVER 65 CUSTOMERS
< - -DIFFERENCES - - >
SECELTION OLD NEW PROPOSED OLD VS OLD VS
ORDER RATE RATE RATE NEW RATE PROPOSED
41 143.40 143.40 143.40 0.00 0.00
42 152.28 191.04 176.74 38.76 24.46
43 143.40 143.40 154.66 0.00 11.26
44 339.84 322.20 303.81 (17.64) (36.03)
45 250.56 231.24 236.07 (19.32) (14.49)
46 235.68 174.96 179.68 (60.72) (56.00)
47 199.92 217.80 200.67 17.88 0.75
48 143.40 143.40 167.60 0.00 24.20
49 167.16 143.40 159.48 (23.76) (7.68)
50 244.56 293.64 287.88 49.08 43.32
51 208.92 161.52 202.47 (47.40) (6.45)
52 179.16 199.08 175.05 19.92 (4.11)
53 214.80 300.84 287.83 86.04 73.03
54 280.32 252.60 220.48 (27.72) (59.84)
55 182.04 193.68 223.06 11.64 41.02
56 176.16 199.92 195.81 23.76 19.65
57 143.40 143.40 143.40 0.00 0.00
58 185.04 232.92 215.95 47.88 30.91
59 143.40 174.00 174.68 30.60 31.28
60 191.04 150.84 158.97 (40.20) (32.07)
61 304.08 341.04 327.70 36.96 23.62
62 351.72 293.64 279.08 (58.08) (72.64)
63 143.40 143.40 159.16 0.00 15.76
64 259.44 284.76 286.40 25.32 26.96
65 342.84 386.52 368.44 43.68 25.60
66 143.40 153.48 160.12 10.08 16.72
67 143.40 182.04 202.77 38.64 59.37
68 286.20 284.76 234.81 (1.44) (51.39)
69 143.40 170.52 160.42 27.12 17.02
70 232.68 222.24 186.36 (10.44) (46.32)
71 143.40 165.12 186.11 21.72 42.71
72 143.40 145.44 185.51 2.04 42.11
73 208.92 163.32 156.11 (45.60) (52.81)
TOTALS 14,706.00 15,535.92 15,355.75 829.92 649.75
AVERAGES 201.45 212.82 210.35 11.37 8.90
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ORb
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AN ORDINANCE AMENDING CHAPTER 26
DISPOSAL," OF THE CODE OF ORDINA
NEW RATE AND FEE STRUCTURE; FIND
PROVIDING AN EFFECTIVE DATE HERE
BE IT ORDAINED BY THE CITY C
Section 1. Section 26-15 of
hereafter read as follows, to-w
Sec 26-15 - Sewer Service Ch,
Computation of Volume Based d
Residential ~
The volume of sewage treat
water volume billed each Irk
will be limited to $37.5q
Section 2. If any section,l
section, sentence, phrase, or d
be held invalid, such invalidity
this Ordinance, and it is hereb
Council to have passed each sed
thereof, irrespective of the fa
clause, or part thereof, may bd
Section 3. This Ordinance s
its passage and approval, withal
April 1, 1991.
Section 4. The City Council
declares that a sufficient writ:
of this meeting of the City CoU
public at the City Hall of the,I
this meeting, as required by tt
Revised Civil Statutes Annotat~
public as required by law at'ay
subject matter thereof has beer!
The City Council further ratif~
and the contents and posting tt
finds, determines, recites and
f the date, hour, place and subject
ted at a place convenient to the
_time required by law preceding
tags Law, Article 6252-17, Texas
this meeting has been open to the
.!ng which this ordinance and the
'considered and formally acted upon.
':and confirms such written notice
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a~~; 'March, 1991.
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~~~~'~;~3C~d1[`~is~'I~'~, "WATER, SEWERS, AND SEWAGE
w~`!~; f3~F 7kk~~ CITY OF LA PORTE; ESTABLISHING A
~~{~';'C'c~MPCai'ANCE WITH THE OPEN MEETINGS LAW; AND
~, i0F' ~'~IiF.,C~~TY OF LA PORTE:
k~ ~.n~lnce umber 1671 is hereby amended to
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~;h ;~ H'plr; ver, the maximum residential charge
i~', ~n~ ~,~; ~ } 'ri month .
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~~n ;,,',; ,rase, clause, or any part of any
~~~, q~';~t; is Ordinance shall, for any reason,
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' ~, `'t ,~ ~ Ge , phrase , or clause , or part
p~`~~~r ~,~,` other section, sentence, phrase, or
tP~ ~ s ~i~ valid.
~'~~~ key ~~ ' f ect and be in force from and after
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•
REQIIEST FOR CITY COIINCIL AGENDA ITEM
Agenda Date Requested: March 25. 1991
Requested By: Robert T. Herrera Department: Administration
8uhibits:
Report X Resolution X Ordinance
General Warranty Deed
Site Map
SIIbII~IARY & RECOMMENDATION
The attached Ordinance No. 1750, if adopted by Council, accepts the
offer of Fairmont Park Homes Association to donate to the City its
swimming pool and 1.284 acre tract of land. Backup correspondence
consists of a letter of offer from the Manager of the Association,
a General Warranty Deed and a site map.
This property, if accepted, will compliment the existing park and
will allow the City to offer additional recreational activities.
During a recent workshop, staff recommended pursuing the donation
of this property and asked that the electrical wiring of the pool
facility be brought up to City Code. Fairmont Park Homes
Association has asked that the donation exclude the electrical
upgrade. Council needs to decide this matter before adopting
Ordinance No. 1750.
A decision on this matter needs to be made soon. An affirmative
vote will require the City to expend time and appropriate
additional funds to bring this facility up to City standards and
make ready for our swimming season.
Action Required by Council:
Adopt Ordinance No. 1750 and appropriate $50,000 from the
General Fund Contingency Account for unbudgeted start-up cost
identified by staff for the Fairmont Park Swimming Pool.
Availability of Funds:
X General Fund Water/Wastewater
Capital Improvement General Revenue Sharinq
X Other
Account Number: 001-607-607-900 Funds Available: X YE8 _ NO
AvDroved for City Council Agenda
~~~ T 3 - z~ - gt
Robert T. Herrera Date
City Manager
Fairmont Park Hoes Association,. Inc.
Nod (ll•ficr Boy 1192 • La Porlr. Trvr~ 77571
171i- X71-5819
March 12, 1991
RECEIVED,
MAR 1 4 f991
Dear Bob:
Mr. R. Herrerra, City Manager
City of La Porte
P.O. Box 1115
La Porte, Texas
Ct i Y MANAGERS
OFFICE
Relative to the previous proposal by the Fairmont Park Homes
Association Board of Directors to give its swimming pool to the City of
La Porte, the Homes Association held a special meeting of the membership
on Monday, March 11, 1991, for the purpose of voting on the proposal.
We are happy to report that the vote was 4 to 1 in favor of giving
the pool and the 1.2 acres of land to the City of La Porte for its operation.
The membership, however, did not feel that the Homes Association should pay
for any upgrading of the facilities since they will become city-owned
property.
We are ready at any time to meet with the City of La Porte in order
to finalize this transaction.
Very truly yours,
FAIRMONT PARK HOMES ASSOCIATION
-'~ .
Jimmie R. Spradling
Vice President and Manager
JRS:res
• •
GENERAL WARRANTY DEED
STATE OF TEXAS
~riII~ ~ljl ~Eri ~p `~I~PSE ~rE$Eri~S:
County of Harris.
THAT FAIRMONT PARK HOMES ASSOCIATION, INC., a Texas non-profit corporation
of Harris County, Texas ,hereinafter called Grantor (whether one or more),
for and in consideration of the sum of Ten and No/ 100 Dollars ($10.00) cash and other good and valuable
considerations to me in hand paid by
CITY OF LA PORTS. a municipal corporation
ADDRESS OF GRANTEES P.O. Box 1115 La Porte Texas 77572-1115
of Harris County, Texas ,hereinafter called Grantee (whether one or more),
receipt of which is hereby acknowledged and confessed, have GRANTED, SOLD and CONVEYED, and by these
presents do GRANT, SELL and CONVEY unto the said Grantee, the following described property, to-wit:
See Exhibit "A" attached hereto and made a part
hereof for all purposes .
TO HAVE AND TO HOLD the above described premises, together with all and singular, the rights and
appurtenances thereto in any wise belonging unto the said Grantee, his heirs and assigns forever. And Grantor
does hereby bind himself, his heirs, executors and administrators, to warrant and forever defend, all and singular
the said premises unto the said Grantee, his heirs and assigns, against every person whomsoever claiming or to
claim the same or any part thereof. Taxes for the current year have been prorated and are assumed by Grantee.
This conveyance is made subject to all and singular the restrictions, conditions, oil, gas, and other mineral reser-
vations, easements, and covenants, if any, applicable to and enforceable against the above described property as
reflected by the records of the county clerk of the aforesaid county.
When this deed is executed by more than one person, or when the Grantee is more than one person, the
instrument shall read as tliougli pertinent verbs and pronouns were changed to correspond, and when executed
by or to a corporation the words "heirs, executors, and administrators" or "heirs and assigns" shall be construed
to mean "successors and assigns."
Executed, this the day of
19 91
FAIRNlONr PARK HOMES ASSOCIATION, INC.
BY:
JINA~IIE R. SPRADLING, Vice President
•
STATE OF TEXAS
COUNTY OF HARRIS
Before me, the undersigned authority, on this day personally appeared
known to me to be tite person(s)
whose name(s) subscribed to tiie foregoing instrument, and acknowledged to the that he
executed the same for the purposes and consideration therein expressed.
Given under my hand and seal of office this day of , A.D. 19
Notary Public in and for Harris County, Texas
STATE OF TEXAS
COUNTY OF HARRIS
Before tne, the undersigned authority, on this day personally appeared
known to me to be the person(s)
whose name(s) subscribed to the foregoing instrument, and acknowledged to me ghat he
executed the same for the purposes and consideration therein expressed.
Given under my hand and seal of office this day of , A.D. 19.
Notary Public in and for Harris County, Texas
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THE STATE OF TEXAS
COUNTY OF HARRIS
Before me, the undersigned authority, on this day personally appeared JII~'1r4TR R. SPRADLING
Vice President of Fairmont Park Homes Association, Inc.
a corporation, known to me to be tl~e person whose Warne is subscribed to the foregoing instrument, and ac-
knowledged to me that he executed the same for the purposes and consideration therein expressed, in 'the
capacity therein stated, and as the act and deed of said corporation.
Given under my hand and seal of office this the day of , A.D. 1991
Notary Public in and for Harris County, Texas
. - • •
One certain tract of 1.284 acres of land, more or less, out
- of the Wm. M. Jones Survey, Barris County, Texas, and being out of one
certain tract of 2.696 acres and one certain tract of 129.601 acres
conveyed Co Grantor herein by deeds recorded in Volume 3191, Page 219,
and Volume 4674, Page 44, respectively, of the llarris County Deed Records;
said tracts being adjacent to Fairmont Park, Sections 1 and 2, same
being additions in llarris County, Texas, according to the plats thereof
recorded in Volume 52, Page 21, and Volume 88, Page 61, respectively,
of the Barris County Map Records; the tract herein conveyed being
described as follows, to wit:
Beginning at an iron rod in the Southwesterly right-of-way
of Collingswood Road; said rod being South 55°58' East,
39.95 feeC and 186.82 feet along a curve to the left with
radius of 2173.13 feet from an iron pipe in the Souti~erly
right-of-way intersection of Ilillridge Road and Collingswood
Road, as shown on plat recorded in Volume 52, Page 21, of
tiie i`fap Records of llarris County, Texas; such beginning
point also being the most Easterly corner of one certain
1.108 acre tract conveyed to City of La Porte by deed
dated January 1, 1972, recorded in Volume Page ,
of tl~e Deed Records of llarris County, Texas;
THENCE, South 49°08'20" West, 270.45 feet along the
Southeasterly line of the said City of La Porte 1.108
acre tract to an iron rod for moat tJesterly corner of
the tract herein conveyed;
TIIENCE, South 32°27'].3" East, 176,45 feet along the
Northeasterly Line of a 30 foot strip of the said City
of La Porte 1.108 acre tract to an iron rod for the
most Southerly corner of the tract herein conveyed,
said point being in the northwesterly line of one
certain tract of 15.154 acres conveyed by Grantor herein
to City of La Porte, Texas, by deed recorded in Volume
, Page of tine llarris County Deed Records;
Tl1ENCE, North 49°16'42" East, 368.18 feet along Clie
said northwesterly line of said 15.154 acre tract to
an iron rod for corner in the Southwesterly right-of-
way line of Collingswood Road for the most Easterly
corner of the tract herein conveyed, said point being
in the most northerly line of said 15.154 acre tract;
T[fENCE, Northwesterly along a curve to the right with
radius of 2173.13 feet a distance of 189.98 feet along
the south right-of-way line of Co111ngswood Road to
PLACE Or BEGINNING, and containing 1.284 acres of land,
more or less;
Together with all improvements thereon;
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EXHIBIT A
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FAIRMONT PARR HOMES ASSOCIATION, INC.
Resolution
I, JIMMIE R. SPRADLING, Vice President, of FAIRMONT PARR HOMES
ASSOCIATION, INC., a Texas non-profit corporation, do hereby certify
that the following is a true and correct copy, as extracted from the
official minutes of FAIRMONT PARK HOMES ASSOCIATION, INC., of the
following Resolution of the Board of Directors:
At a special meeting of the membership of the corporation on
March 11, 1991, by motion duly made, seconded and passed by
majority vote, it was RESOLVED that FAIRMONT PARK HOMES
ASSOCIATION, INC., convey the following described real estate,
to-wit:
See Exhibit "A" attached hereto and made a part hereof for all
purposes.
as a gift and donation to the City of La Porte, a municipal
corporation; such conveyance being a part of an agreement by
and between FAIRMONT PARK HOMES ASSOCIATION, INC. and the City
of La Porte.
It was further RESOLVED that the Vice President be authorized
to execute and deliver a General Warranty Deed to the above
described property, and to execute any and all other necessary
instruments to effect the closing of this conveyance.
I, JIMMIE R. SPRADLING, Vice President of FAIRMONT PARR HOMES
ASSOCIATION, INC., a Texas non-profit corporation, do hereby certify
that the Resolution, a copy of which was above set out, was duly
adopted and passed by the Board of Directors of said corporation, at
a meeting held in La Porte, Texas, on the 11th day of March, 1991.
FAIRMONT PARK HOMES
ASSOCIATION, INC.
BY
JIMMIE R. SPRADLING
Vice President
THE STATE OF TEXAS §
COUNTY OF HARRIS §
This instrument was acknowledged before me on the day of
1991 by JIMMIE R. SPRADLING, Vice President, of FAIRMONT
PARK HOMES ASSOCIATION, INC., a Texas non-profit corporation, on
behalf of said corporation.
Notary Public, State of Texas
~ ~
One certain tract of 1.284 acres of land, more or less, out
/ of the Wm. M. Jones Survey, Ilarris County, Texas, and being out of one
certain tract of 2.696 acres and one certain tract of 129.601 acres
conveyed to Grantor herein by deeds recorded in Volume 3191, Page 219,
and Volume 4674, Page 44, respectively, of the Ilarris County Deed Records;
said tracts being adjacent to Fairmont Park, Sections 1 and 2, same
being additions in Ilarris County, Texas, according to the plats thereof
recorded in Volume 52, Page 21, and Volume 88, Page 61, respectively,
of the [Iarris County Map Records; the tract herein conveyed being
described as follows'•to wit:
• ••- Begirining~`"aE''can`~iroi"rod in the Southwesterly right-of-way
of Collingswood Road; said rod being South 55°58' East,
39.95 feet end 18b.82 feet along a curve to the left with
~~ radius of 2173.13.feet•from an iron pipe in the Southerly
` rig ht-of-way intersection of Ilillridge Road and Collingswood
Road, as shown on plat recorded in Volume 52, Page 21, of
tiie Map Records of ilarris County, Texas; such beginning
point also being the most Easterly corner of one certain
1.108 acre tract conveyed to City of La Porte by deed
dated January 1, 1972, recorded in Volume , Page ,
of tl~e Deed Records of Ilarris County, Texas;
TIiENCE, South 49°08'20" West, 270.45 feet along the
Southeasterly line of the said City of La Porte 1.108
acre tract to an iron rod for moat Westerly corner of
the Cract herein conveyed;
T1IENCE, South 32°27'13" East, ].76.45 feet along the
Northeasterly line of a 30 foot strip of the said City
of La Porte 1.108 acre tract to an iron rod for the
most Southerly corner of the tract herein conveyed,
said point being in the northwesterly line of one
certain tract of 15.154 acres conveyed by Grantor herein
to City of La Porte, Texas, by deed recorded in Volume
, Page , of the [Iarris County Deed Records;
T1iENCE, North 49°16'42" East, 368.78 feet along Che
said northwesterly line of said 15.154 acre tract to
an iron rod for corner in the Southwesterly right-of-
way line of Collingswood Road for tl~e most Easterly
corner of the tract herein conveyed, said point being
in tl~e most nort}~erly line of said 15.154 acre tract;
TIiENCE, Northwesterly along a curve to the right with
radius of 2173.13 feet a distance of 189.48 feet along
the south right-of-way line of Collingswood Road to
PLACE OF BEGINNING, and containing 1.284 acres of land,
more or less;
Together with all improvements thereon;
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AN ORDINANCE AUTHORIZING AC''~
HOMES ASSOCIATION, INC., OF
FINDING COMPLIANCE WITH THE;
EFFECTIVE DATE HEREOF. '~.I!
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BE IT ORDAINED BY THE CIx~
Section 1. The City Couh
Faimont Park Homes Associatio'ti
Porte, its swimming pool, and'l
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property for the City of La
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made a part hereof is letterf,,
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Park Homes Association, Inca, ~~~
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Fairmont Park Homes Associatttib
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Section 2. The City Coin
recites and declares that a ~~u
hour, place and subject of tMi:
posted at a place convenienti~~
City for the time required by~l,
required by the Open Meeting '
Civil Statutes Annotated; an"d
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public as required by law ati'
and the subject matter thexei'~,
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formally acted upon. The Cis'
and confirms such written ng1~'~I
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thereof.
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sPetion 3. This Ordi
its passage and approval, ar4~i
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PASSED AND APPROVED, ,tt~';i
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ATTEST:
`~~I
Cherie Black
City Secretary ~ "~,~
AP OVED: '`I
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Knox W. Ask ins _~ ! I~
City Attorney ii''`i
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'. 1750
OF DONATION FROM FAIRMONT PARK
POOL AND 1.284 ACRES OF LAND;
;STINGS LAW; AND PROVIDING AN
OF THE CITY OF LA PORTS:
by accepts the offer of
to donate to the City of La
ire tract of land, as park
ttached to this ordinance and
rch 12, 1991, from Fairmont
posed form of deed from
to the City of La Porte.
ficially finds, determines,
t written notice of the date,
ng of the City Council was
ublic at the City Hall of the
.ceding this meeting, as
'ticle 6252-17, Texas Revised
(is meeting has been open to the
!s during which this ordinance
'en discussed, considered and
~~'4y1 further ratifies, approves
the contents and posting
be effective from and after
0 ordered.
(ay of March, 1991.
CITY OF LA PORTS
BY
Norman L. Malone, Mayor
C
•
REQIIEST FOR CITY COIINCIL AGENDA ITEM
Agenda Date Requested: March 25. 1991
Requested By: Robert T. Herrera
Report
Euhibits:
Department: Administration
Resolution X Ordinance
SIIMMARY & RECOMMENDATION
The attached request from Crawler Supply Company associated with
an application for closing 17th Street, all between Blocks 1175 and
1176, is recommended by staff for approval.
Mr. Bob Weathersby, the representative for Crawler Supply Company,
has amended their request and will supply the City with a written
letter agreeing to an eighty-one cent (.81) sq.ft. value for the
ability to have 17th Street closed. In an earlier request, Mr.
Weathersby offered to purchase the street closing property at
twenty-five cents (.25) a sq.ft.
Total requested street closing is 24,000 sq.ft. at eighty-one cents
(.81) per sq.ft. equals $19,440 in Street and Alley Closing fees.
The closing of this undeveloped street will not negatively impact
the City, and all public entities have acknowledged no conflict
with this closing.
Action Required by Council:
Approval of Ordinance agreeing to the closing of 17th Street ,all
between Blocks 1175 and 1176, upon receiving fee associated with
application.
Availability of Funds:
General
Capital
Other
Account Number:
Funds Available: YES NO
Approved for City Council Agenda
Robert T. Herrera Date
City Manager
Fund Water/Wastewater
Improvement General Revenue Sharing
15419 S ea bona e Viriv e
Hau~~an, Texas 77062
March 21, 1991
Mn. Rabent 7. Hetvicena
C.%ty Manag en
Mn. John Ja env-~
A~ad.c~xa.-~,t C.%t y Manag etc
C.it y a b La Pante
P. U. Box 1115
La Pante, Texa.~ 77572
R~: S~tcee~ Ceasing Requea~
17~h S~icee~
Gen~eemen:
Upan bu~rthetc neb.eee.~ian and cavus.idetca~,i.on neea~,ive ~o aun .a4tcee~ cea~s.c,~.g
neqquea~, I agree w,%th the City' ~ ~a.a.i~.ion ~ha~ the a~rycai~s ed va.2ue a b
25¢/~5q. ~~. .us Sao .tow and dhou.2d nab be acce~ta.bee ~a the city. I bu~rthen,
.a.ineetceey, bee.ieve ~ha~ the amount ob $1.12/aq. ~~. ba.~sed an a 75~r/~q. ~~.
ap~ca,i~ae aimed 150; .c,a exeeed.ive and. ~ha~ .ct .wooed nab 6e .c.n the be~~
,cwtenea~ ab my pat~tnetra ~a be changed ~h~ amauv~t ban the ryca~er~,ty ,invo.2ved.
Ab~etc hav.c.ng ~enaona~ .invo.2vemewt and .c.ntetce~~ .in the ryco~enty ban a numbvc
o~ yean.a and having can~.cdeteed ale f2nown bac~olvs .inva.eved, I a.ineeneey
beee ~ha~ a ~a.yment ~o the City .in xhe amouwt ab 81~/esq. ~~. wooed be ba,ve
and equ.c,#.ccbee ~o a,~e eaneetcned. I hetceby obben an beha,~b ab my ~atctnena ~a
~a.y ~hi~s amount ~a the C.%ty ban the e,2a~s.ing ob 17~h Sxtceet and neque~s~ ghat
you g.i.ve ~h,%a abbeh. your ba,itc eon~s.cdena~i.an.
Thetce -us a aeab.ing pend.c,ng an ~h~i.a pnapetcty whi,e.h
eam~.ee~%ng the ~s~tcee~ ceo~s.ing, .aa your exped.%ting
Agenda w.iPe 6e gnea~ey a~ryceeiaxed.
y ve
o be~rt ~
R~GI/ bw
cc: A,2a.n wand
La Pa~rte, Texa~S
.c,a ca voting evct u~a n
~hit~ss ma~.tetc an the Cauncie
CITY OF LA PORTE
APPLICATION FOR THE CLOSING OF STREETS AND ALLEYS
Date
I the un ersi ned owner
g
of (or option holder, etc) the following described real pr erty
located within the City of Lao Porte, Texas, hereby requ t and
make application under the terms of Ordinance Number 1550 or the
vacating, abandoning and closing of the following Streets and/or
Alleys:
Street(s)
No. of Square Feet: ~~ ~ d ~
i
Plot Plan Attached
f of Ownership
ication fee of $100.00.
/~
Address
Telephone Number
,~.~~ Z-~ 7~a~ ~.
APPRAISAL INFORMATION
HCAD Prime Rate
per square foot.
Adjacent Property HCAD Prime Rate
Concurrence of Revenue Controller:
Fee to be collected by City:
(Signature)
ACTION
Recommended action to City Council
per square foot.
City Council Action Date,
Ordinance No. dated
LEGAL DESCRIPTION OF STREETS ANDfOR ALLEYS
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ORDINANCE NQ.~~' 1751
AN ORDINANCE VACATING, ABANDONING AI~, CLOSING A PORTION OF SOUTH
17TH STREET, IN THE TOWN OF LA ~'O~TE,,~~HARRIS COUNTY, TEXAS; FINDING
COMPLIANCE WITH THE OPEN MEETINGS LAW.; AND PROVIDING AN EFFECTIVE
DATE HEREOF.
WHEREAS, the City Council,of the City of La Porte has been
requested by record owner of all 4f the property abutting the
hereinafter described portion of youth 17th Street, in the Town of
La Porte, Harris County, Texas ,, to vacate, abandon, and permanently
close that portion of South 17th Street; and
`'
WHEREAS, the City Counci~d of, the;~fCity of La Porte has
:~,,
determined and does hereby find., detel~lmine and declare that the
hereinafter described portion of SoutF 17th Street, Town of La
Porte, Harris County, Texas, is not sf~itable, needed, or beneficial
to the public as a public road, stree~ and alley, and that the
~,
closing of the hereinafter described portion of South 17th Street,
~,
Town of La Porte, Harris County, Texas, is for the protection of the
~,,
public and for the public interes anc~ benefit, and that the
hereinafter described portion 4f said9~'South 17th Street, should be
~~I
vacated, abandoned, and permar~ent,ly dosed.
~, ~r
BE IT ORDAINED BY THE CI~X GOUNCXL OF THE CITY OF LA PORTE:
~ 'A
~~. u
Section 1. Under and by virtue:~of the power granted to the
City of La Porte under its Home Ru1e~Charter and Chapter 13, Title
28, Article 1175, of the Revised Civii Statutes of the State of
Texas, 1925, the hereinafter described portion of South 17th Street,
Town of La Porte, Harris County, Texas, is hereby permanently
1.
vacated, abandoned and closedby the City of La Porte, to-wit:
Being that portion of ,,.the right-of-way of South 17th Street,
lying and being situated~Ibe~ween Blocks 1175 and 1176, Town of
La Porte, Harris County,;,rTexas;~and the south right-of-way line
of "M" Street and the r~o'~th rigt--of-way line of "N" Street,
Town of La Porte, Harr~s'County~ Texas.
Section 2. The City Co~iu;ncil o.ficially finds, determines,
~~.. ~
recites and declares that a stafficie ,t written notice of the date,
,,
hour, place and subject of this mee~t'~:ng of the City Council was
posted at a place convenient to the'~ublic at the City Hall of the
City for the time required by law preceding this meeting, as
required by the Open Meetings ';Law, Article 6252-17, Texas Revised
Civil Statutes Annotated; and~that't~s meeting has been open to the
~~~'
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~ Page 2
ORDINANCE N0. 1751
`,
~s ~~
;,.
public as required by law at all time's during which this ordinance
and the subject matter thereof has been discussed, considered and
formally acted upon. The City'Councl further ratifies, approves
and confirms such written notice anc7`the contents and posting
thereof .
Section 3. This Ordinance shall;be effective from and after
its passage and approval, and it is so ordered.
PASSED AND APPROVED, this'25th day of March, 1991.
'~
~+
'! CITY OF LA PORTE
i
BY
', ;`; Norman L. Malone, Mayor
ATTEST:
Cherie Black
City Secretary
APPROVED:
Knox W. Askins
City Attorney
'~~
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March 20, 1991
Mr. Robert T. Herrera
City Manager
City of La Porte
P.O. Box 1115
La Porte, Texas 77572-1115
•
.7iu~e 1865 J'c~ ~a.~. Z~°~ra~
9000 ~ad~ .X~a.~~au~
5~, J~ad 77056
71.x/960-900
Re: Proposed Advance Refunding for City of La Porte Bonds
Dear Bob:
As per our discussion of yesterday, following is an outline of
a refunding technique known as "advance refunding" as it could be
applied to some of the City's General Obligation and Water and
Sewer Revenue Bonds.
The City currently has outstanding three issues of General
Obligation Bonds and one series of Water and Sewer Revenue Bonds
with interest rates ranging from 8$ to 9.7$. These Bond issues are
all callable and have call dates ranging from August of this year
until March of 1995.
The proposed procedure would be for the City to sell Refunding
Bonds and take the proceeds therefrom and invest in U.S. Government
Securities to be placed in an escrow account. The U.S. Government
Securities would provide payments to exactly coincide with payments
on the above-mentioned series of General Obligation and Revenue
Bonds, the "Refunded Bonds", until their call dates, and then suf-
ficient funds from the government securities would mature to call
in and pay off the high-rate bonds.
This procedure of offsetting all the payments due on the
Refunded Bonds with U.S. Government Securities is called a
Defeasement. The Refunded Bonds would be defeased and the City
would legally no longer be responsible for any payments due
thereon.
_T'D.1d¢'(X,id~ed iro 1919
• .
R. Herrera -2-
3/20/91
The City would then be left with the Refunding Bonds to be
paid from taxes and water and sewer revenues, respectively, which
should sell in today's market at the 6.5$ to 7~ range. Substantial
savings in annual principal and interest payments would therefore
result.
We would like to discuss this further with you and the Council
at your meeting on March 25 and we look forward to seeing you then.
If in the meantime you have any questions or we can furnish
anything further regarding this proposal, please let us know.
Sincerely,
~ ~
~~
R. David e
President
RDF:cm
cc: Director of Finance
RESOLUTION N0. 91-06
A RESOLUTION AUTHORIZING ADVANCE REFUNDING FOR CERTAIN OF THE CITY'S
GENERAL OBLIGATION AND WATER AND SEWER REVENUE BONDS; FINDING
COMPLIANCE WITH THE OPEN MEETINGS LAW; AND PROVIDING AN EFFECTIVE
DATE HEREOF.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LA PORTE:
Section 1. The City's fiscal agents, Moroney, Beissner & Co.,
Inc., and City staff, are authorized and directed to take all
necessary steps for the issuance of advance refunding for certain of
the City's 1980, 1984, and 1985 general obligation bonds and the
City's 1985 water and sewer revenue bonds, all as more particularly
set forth in letter dated March 20, 1991, from the City's fiscal
agents, which is attached to this resolution and made a part hereof.
Section 2. The City Council officially finds, determines,
recites and declares that a sufficient written notice of the date,
hour, place and subject of this meeting of the City Council was
posted at a place convenient to the public at the City Hall of the
City of La Porte, Texas for the time required by law preceding this
meeting, as required by the Open Meetings Law, Article 6252-17,
Texas Revised Civil Statutes Annotated; and that this meeting has
been open to the public as required by law at all times during which
this resolution and the subject matter thereof has been discussed,
considered and formally acted upon. The City Council further
ratifies, approves and confirms such written notice and the contents
and posting thereof.
Section 3. This Resolution shall be in effect from and after.
its passage and approval.
PASSED AND APPROVED this the 25th day of March, 1991.
CITY OF LA PORTE
By:
Norman L. Malone, Mayor
ATTEST:
Cherie Black, City Secretary
APPROVED:
~~. ,
Rnox W. Askins, City Attorney
~-- -~ •
CITY OF LA PORTE, TEXAS
Waterworks and Sewer System Revenue Bonds
Series 1985
Refunding Analysis
Prepared by:
Moroney, Beissner & Co., Inc.
Financial Advisor to the City
• •
CITY OF LA PORTE, TEXAS
WATER & SEWER REVENUE REFUNDING BONDS, SERIES 1991
UP-FRONT SAVINGS
SAVINGS REPORT
- - - - - - - - PROPOSED DEBT SERVICE - - - - - - - - PRIOR
DATE PRINCIPAL COUPON INTEREST TOTAL D/S
9/15/91 93,318.75 93,318.75 140,475.00
3/15/92 20,000.00 5.250000 111,982.50
9/15/92 111,457.50 243,440.00 280,950.00
3/15/93 20,000.00 5.500000 111,457.50
9/15/93 110,907.50 242,365.00 280,950.00
3/15/94 20,000.00 5.750000 110,907.50
9/15/94 110,332.50 241,240.00 280,950.00
3/15/95 20,000.00 6.000000 110,332.50
9/15/95 109,732.50 240,065.00 280,950.00
3/15/96 360,000.00 6.150000 109,732.50
9/15/96 98,662.50 568,395.00 567,300.00
3/15/97 355,000.00 6.250000 98,662.50
9/15/97 87,568.75 541,231.25 539,850.00
3/15/98 350,000.00 6.350000 87,568.75
9/15/98 76,456.25 514,025.00 511,950.00
3/15/99 345,000.00 6.450000 76,456.25
9/15/99 65,330.00 486,786.25 483,600.00
3/15/ 0 340,000.00 6.550000 65,330.00
9/15/ 0 54,195.00 459,525.00 455,100.00
3/15/ 1 330,000.00 6.650000 54,195.00
9/15/ 1 43,222.50 427,417.50 426,450.00
3/15/ 2 325,000.00 6.750000 43,222.50
9/15/ 2 32,253.75 400,476.25 397,575.00
3/15/ 3 320,000.00 6.850000 32,253.75
9/15/ 3 21,293.75 373,547.50 368,550.00
3/15/ 4 310,000.00 6.900000 21,293.75
9/15/ 4 10,598.75 341,892.50 340,500.00
3/15/ 5 305,000.00 6.950000 10,598.75
9/15/ 5
--
------------
-------------- - 315,598.75
---- 313,500.00
3,420,000.00
2,069,323.75 --------- --
5,489,323.75 ------------
5,668,650.00
ACCRUED
3,420,000.00 2,069,323.75
-~ 5,489,323.75
- 5,668,650.00
--
DATED 4/15 /91 WITB DELIVERY OF 4/15/91
BOND YEARS 31,130.000
AVERAGE COU PON 6.647
AVERAGE LIF E 9.102
N I C X 6.647362 X USING 100.0000000
T I C 2 6.626796 Z USING 100.0000000
BOND INSURANCE: ... 0.364344 X OF
(TOTAL DEBT SERVICE - ACCRUED - CAP. INT.) 20,D00.00
N 0 T E CUMULATIVE SAVINGS ARE NET OF 23,412.00
CUMULATIVE
SAVINGS SAVINGS
47,156.25 23,744.25
37,510.00 61,254.25
38,585.00 99,839.25
39,710.00 139,549.25
40,885.00 180,434.25
-1,095.00 179,339.25
-1,381.25 177,958.00
-2,075.00 175,883.00
-3,186.25 172,696.75
-4,425.00 168,271.75
-967.50 167,304.25
-2,901.25 164,403.00
-4,997.50 159,405.50
-1,392.50 158,013.00
-2,098.75 155,914.25
--------------
155,914.25
155,914.25
NET PRESENT VALUE SAVINGS AT 6.6200x EQUALS 137,189.93 OR 4.01142 OF PAR
PREPARED BY MORONEY, BEISSNER & CO., INC.
RUNDATE: 03-25-1991 @ 15:59:06 FILENAME: LAP KEY: 91REVREFU
• CITY OF LA PORTS, TEXAS •
WATER & SEWER REVENUE REFUNDING BONDS, SERIES 1991
UP-FRONT SAVINGS
DEBT SERVICE SCHEDULE
DATE PRINCIPAL COUPON INTEREST PERIOD TOTAL FISCAL TOTAL
9/15/91 93,318.75 93,318.75 93,318.75
3/15/92 20,000.00 5.250000 111,982.50 131,982.50
9/15/92 111,457.50 111,457.50 243,440.00
3/15/93 20,000.00 5.500000 111,457.50 131,457.50
9/15/93 110,907.50 110,907.50 242,365.00
3/15/94 20,000.00 5.750000 110,907.50 130,907.50
9/15/94 110,332.50 110,332.50 241,240.00
3/15/95 20,000.00 6.000000 110,332.50 130,332.50
9/15/95 109,732.50 109,732.50 240,065.00
3/15/96 360,000.00 6.150000 109,732.50 469,732.50
9/15/96 98,662.50 98,662.50 568,395.00
3/15/97 355,000.00 6.250000 98,662.50 453,662.50
9/15/97 87,568.75 87,568.75 541,231.25
3/15/98 350,000.00 6.350000 87,566.75 437,568.75
9/15/98 76,456.25 76,456.25 514,025.00
3/15/99 345,000.00 6.450000 76,456.25 421,456.25
9/15/99 65,330.00 65,330.00 486,786.25
3/15/ 0 340,000.00 6.550000 65,330.00 405,330.00
9/15/ 0 54,195.00 54,195.00 459,525.00
3/15/ 1 330,000.00 6.650000 54,195.00 384,195.00
9/15/ 1 43,222.50 43,222.50 427,417.50
3/15/ 2 325,000.00 6.750000 43,222.50 368,222.50
9/15/ 2 32,253.75 32,253.75 400,476.25
3/15/ 3 320,000.00 6.850000 32,253.75 352,253.75
9/15/ 3 21,293.75 21,293.75 373,547.50
3/15/ 4 310,000.00 6.900000 21,293.75 331,293.75
9/15/ 4 10,598.75 10,598.75 341,892.50
3/15/ 5 305,000.00 6.950000 10,598.75 315,598.75
9/15/ 5
--
------------
-
-------------
------- 315,598.75
3,420,000.00
2,069,323.75 -------
5,489,323.75
ACCRUED
3,420,000.00
~~~ 2,069,323.75 5,489,323.75
DATED 4/15 /91 WITH DELIVERY OF 4/15/91
BOND YEARS 31,130.000
AVERAGE COU PON 6.647
AVERAGE LIFE 9.102
N I C Z 6.647362 i USING 100.0000000
T I C z 6.626796 Z USING 100.0000000
BOND INSURANCE: ... 0.350000 x OF
(TOTAL DEBT SERVICE - ACCRUED - CAP. INT.) _ 19,212.63
PREPARED BY MORONEY, BEISSNER & CO., INC.
RUNDATE: 03-25-1991 ® 15:55:28 FILENAME: LAP KEY: 91REVREFU
c
' ~ CITY OF LA PORTE, TEXAS •
WATER & SEWER REVENUE REFUNDING BONDS, SERIES 1991
LEVEL ANNUAL SAVINGS
SAVINGS REPORT
- - - - - - - - PROPOSED DEBT SERVICE - - - - - - - - PRIOR
DATE PRINCIPAL COUPON INTEREST TOTAL D/S
9/15/91 92,822.92 92,822.92 140,475.00
3/15/92 45,000.00 5.250000 111,387.50
9/15/92 110,206.25 266,593.75 280,950.00
3/15/93 50,000.00 5.500000 110,206.25
9/15/93 108,831.25 269,037.50 280,950.00
3/15/94 50,000.00 5.750000 108,831.25
9/15/94 107,393.75 266,225.00 280,950.00
3/15/95 55,000.00 6.000000 107,393.75
9/15/95 105,743.75 268,137.50 280,950.00
3/15/96 355,000.00 6.150000 105,743.75
9/15/96 94,827.50 555,571.25 567,300.00
3/15/97 345,000.00 6.250000 94,827.50
9/15/97 84,046.25 523,873.75 539,850.00
3/15/98 340,000.00 6.350000 84,046.25
9/15/98 73,251.25 497,297.50 511,950.00
3/15/99 335,000.00 6.450000 73,251.25
9/15/99 62,447.50 470,698.75 483,600.00
3/15/ 0 325,000.00 6.550000 62,447.50
9/15/ 0 51,803.75 439,251.25 455,100.00
3/15/ 1 320,000.00 6.650000 51,803.75
9/15/ 1 41,163.75 412,967.50 426,450.00
3/15/ 2 310,000.00 6.750000 41,163.75
9/15/ 2 30,701.25 381,865.00 397,575.00
3/15/ 3 305,000.00 6.850000 30,701.25
9/15/ 3 20,255.00 355,956.25 368,550.00
3/15/ 4 295,000.00 6.900000 20,255.00
9/15/ 4 10,077.50 325,332.50 340,500.00
3/15/ 5 290,000.00 6.950000 10,077.50
9/15/ 5
--
------------
-
------------- - 300,077.50
----- 313,500.00
3,420,000.00
2,005,707.92 -------- --
5,425,707.92 ------------
5,668,650.00
ACCRUED
3,420,000.00 2,005,707.92 5,425,707.92 5,668,650.00
DATED 4/15 /91 WITS DELIVERY OF 4/ 15/91
BOND YEARS 30,225.000
AVERAGE COUPON 6.636
AVERAGE LIFE 8.838
N I C I 6.635924 Z USING 100.0000000
T I C R 6.613450 X USING 100.0000000
BOND INSURANCE: ... 0.368615 R OF
(TOTAL DEBT SERVICE - ACCRUED - CAP. INT.) a 20,000.00
N 0 T E CUMULATIVE SAVINGS ARE NET OF 23,412.00
CUMULATIVE
SAVINGS SAVINGS
47,652.08 24,240.08
14,356.25 38,596.33
11,912.50 50,508.83
14,725.00 65,233.83
12,812.50 78,046.33
11,728.75 89,775.08
15,976.25 105,751.33
14,652.50 120,403.83
12,901.25 133,305.08
15,848.75 149,153.83
13,482.50 162,636.33
15,710.00 178,346.33
12,593.75 190,940.08
15,167.50 206,107.58
13,422.50 219,530.08
--------------
219,530.08
219,530.D8
NET PRESENT VALUE SAVINGS AT 6.6100x EQUALS 140,255.14 OR 4.1010X OF PAR
PREPARED BY MORONEY, BEISSNER & CO., INC.
RUNDATE: 03-25-1991 @ 15:53:50 FILENAME: LAP KEY: 91REVREF
• CITY OF LA PORTE, TEXAS •
WATER & SEWER REVENUE REFUNDING BONDS, SERIES 1991
LEVEL ANNUAL SAVINGS
DEBT SERVICE SCHEDULE
DATE PRINCIPAL COUPON INTEREST PERIOD TOTAL FISCAL TOTAL
9/15/91 92,822.92 92,822.92 92,822.92
3/15/92 45,000.00 5.250000 111,387.50 156,387.50
9/15/92 110,206.25 110,206.25 266,593.75
3/15/93 50,000.00 5.500000 110,206.25 160,206.25
9/15/93 108,831.25 108,831.25 269,037.50
3/15/94 50,000.00 5.750000 108,831.25 158,831.25
9/15/94 107,393.75 107,393.75 266,225.00
3/15/95 55,000.00 6.000000 107,393.75 162,393.75
9/15/95 105,743.75 105,743.75 268,137.50
3/15/96 355,000.00 6.150000 105,743.75 460,743.75
9/15/96 94,827.50 94,827.50 555,571.25
3/15/97 345,000.00 6.250000 94,827.50 439,827.50
9/15/97 84,046.25 84,046.25 523,873.75
3/15/98 340,000.00 6.350000 84,046.25 424,046.25
9/15/98 73,251.25 73,251.25 497,297.50
3/15/99 335,000.00 6.450000 73,251.25 408,251.25
9/15/99 62,447.50 62,447.50 470,698.75
3/15/ 0 325,000.00 6.550000 62,447.50 387,447.50
9/15/ 0 51,803.75 51,803.75 439,251.25
3/15/ 1 320,000.00 6.650000 51,803.75 371,803.75
9/15/ 1 41,163.75 41,163.75 412,967.50
3/15/ 2 310,000.00 6.750000 41,163.75 351,163.75
9/15/ 2 30,701.25 30,701.25 381,865.00
3/15/ 3 305,000.00 6.850000 30,701.25 335,701.25
9/15/ 3 20,255.00 20,255.00 355,956.25
3/15/ 4 295,000.00 6.900000 20,255.00 315,255.00
9/15/ 4 10,077.50 10,077.50 325,332.50
3/15/ 5 290,000.00 6.950000 10,077.50 300,077.50
9/15/ 5
--
------------
-
------------- --
------------ 300,077.50
3,420,000.00 2,005,707.92 5,425,707.92
ACCRUED
3,420,000.00
-~a-~ 2,005,707.92 5,425,707.92
-
DATED 4/15 /91 WITH DELIVERY OF 4/15/91
BOND YEARS 30,225.000
AVERAGE COU PON 6.636
AVERAGE LIFE 8.838
N I C X 6.635924 R USING 100.0000000
T I C Z 6.613450 x USING 100.0000000
BOND INSURANCE: ... 0.368615 x OF
(TOTAL DEBT SERVICE - ACCRUED - CAP. INT.) 20,000.00
PREPARED BY MORONEY, BEISSNER & CO., INC.
RUNDATE: 03-25-1991 @ 15:52:00 FILENAME: LAP KEY: 91REVREF
' ~ •
CITY OF L~ PORTE, TEXAS
WATER & SEWER REVENUE BONDS, SERIES 1985
REFUNDING CANDIDATES - ESCROW REQUIREMENTS
PV DATE: 4/15/1991 WITH 2 COMPOUNDINGS / 360 DAY YEAR
PV RESULTS: PV TOTAL = 3,294,558.43 PV RATE 6.7000000000
CASH - FLOW SUBTOTAL = 4,123,800.00
DATE AMOUNT RATE PV FACTOR PV AMOUNT
9/15/1991 140,475.00 6.7000000 0.97291433 136,670.14
3/15/1992 140,475.00 6.7000000 0.94137816 132,240.10
9/15/1992 140,475.00 6.7000000 0.91086421 127,953.65
3/15/1993 140,475.00 6.7000000 0.88133934 123,806.14
9/15/1993 140,475.00 6.7000000 0.85277150 119,793.08
3/15/1994 140,475.00 6.7000000 0.82512965 115,910.09
9/15/1994 140,475.00 6.7000000 0.79838380 112,152.96
3/15/1995 3,140,475.00 6.7000000
------------ 0.77250488 2,426,032.27
-
SUBTOTAL 4,123,800.00 -----------
3,294,558.43
PREPARED BY MORONEY, BEISSNER & CO., INC.
RUNDATE: 03-25-1991 ® 15:45:00 FILENAME: LAP KEY: 85REVCALL
i •
]ITY OF LA FORTE, TEXAS
WATER & SEWER REVENUE REFUNDING BONDS,SERIES 1991
YIELD CALCULATION
DELIVERY DATE: 4/15/91
par 3,420,000.00
Accrued Interest 0.00
Underwriters Discount ( 0.000000 X) 0.00
Original Issue (+premium/-Discount) 0.00
Bond Insurance ( 0.368615 Z) -20,000.00
x of (Total D/S -Accrued - 0.00 Cap. Interest)
All Other Cost of Issuance expenses 0.00
NON recoverable portion of Cost of Issuance expenses 0.00
------------------
Gross Yield Target Value 3,400,000.00
G R 0 S S Y I E L D 6.70459044 X
MAXIMUM REFUNDING Y I E L D 6.75388890 X
6.75388890 Z ~ 6.70459044 x + ,,,
(25,000 * 6.70459044 X)
3,420,000.00 0.00 0.00 0.00 20,000.00
Par +Accrued -Underwriter +prem/-Disc -Allowable Exp
PREPARED BY MORONEY, BEISSNER & CO., INC.
RUNDATE: 03-25-1991 ® 15:50:45 FILENAME: LAP KEY: 91REVREF
b
• ~ CITY OF LA PORTE, TEXAS
WATER & SEWER REVENUE BONDS, SERIES 1985
REFUNDING CANDIDATES - REQUIREMENTS TO CALL DATE
DEBT SERVICE SCHEDULE
DATE PRINCIPAL COUPON INTEREST PERIOD TOTAL FISCAL TOTAL
9/15/91 140,475.00 140,475.00 140,475.00
3/15/92 140,475.00 140,475.00
9/15/92 140,475.00 140,475.00 280,950.00
3/15/93 140,475.00 140,475.00
9/15/93 140,475.00 140,475.00 280,950.00
3/15/94 140,475.00 140,475.00
9/15/94 140,475.00 140,475.00 280,950.00
3/15/95 3,000,000.00 140,475.00 3,140,475.00 3,140,475.00
-------------- -------------- --------------
3,000,000.00 1,123,800.00 4,123,800.00
ACCRUED 23,412.50 23,412.50
3,000,000.00 1,100,387.50 4,100,387.50
~~ ~~~
DATED 3/15/91 WITH DELIVERY OF 4/15/91
BOND YEARS 12,000.000
AVERAGE COUPON 9.365
AVERAGE LIFE 4.000
N I C x 9.365000 x USING 100.0000000
T I C z 9.360400 x USING 100.0000000
PREPARED BY MORONEY, BEISSNER & CO., INC.
RUNDATE: 03-25-1991 @ 15:42:01 FILENAME: LAP KEY: SSREVCALL
-~
t
CITY O F LA POQtTE, TEXAS
WATER & SEWER REVENUE BONDS, SERIES 1985
REFUNDING CANDIDATES
DEBT SERVICE SCHEDULE
DATE PRINCIPAL COUPON INTEREST PERIOD TOTAL FISCAL TOTAL
9/15/91 140,475.00 140,475.00 140,475.00
3/15/92 140,475.00 140,475.00
9/15/92 140,475.00 140,475.00 280,950.00
3/15/93 140,475.00 140,475.00
9/15/93 140,475.00 140,475.00 280,950.00
3/15/94 140,475.00 140,475.00
9/15/94 140,475.00 140,475.00 280,950.00
3/15/95 140,475.00 140,475.00
9/15/95 140,475.00 140,475.00 280,950.00
3/15/96 300,000.00 9.100000 140,475.00 440,475.00
9/15/96 126,825.00 126,825.00 567,300.00
3/15/97 300,000.00 9.200000 126,825.00 426,825.00
9/15/97 113,025.00 113,025.00 539,850.00
3/15/98 300,000.00 9.400000 113,025.00 413,025.00
9/15/98 98,925.00 98,925.00 511,950.00
3/15/99 300,000.00 9.500000 98,925.00 398,925.00
9/15/99 84,675.00 84,675.00 483,600.00
3/15/ 0 300,000.00 9.500000 84,675.00 384,675.00
9/15/ 0 70,425.00 70,425.00 455,100.00
3/15/ 1 300,000.00 9.600000 70,425.00 370,425.00
9/15/ 1 56,025.00 56,025.00 426,450.00
3/15/ 2 300,000.00 9.650000 56,025.00 356,025.00
9/15/ 2 41,550.00 41,550.00 397,575.00
3/15/ 3 300,000.00 9.700000 41,550.00 341,550.00
9/15/ 3 27,000.00 27,000.00 368,550.00
3/15/ 4 300,000.00 9.000000 27,000.00 327,000.00
9/15/ 4 13,500.00 13,500.00 340,500.00
3/15/ 5 300,000.00 9.000000 13,500.00 313,500.00
9/15/ 5 313,500.00
3,000,000.00 2,668,650.00 5,668,650.00
ACCRUED
_ 3,000,000.00
~~- 2,668,650.00 5,668,650.00
DATED 3/15/91 WITH DELIVERY OF 3/15/91
BOND YEARS 28,500.000
AVERAGE COUPON 9.364
AVERAGE LIFE 9.500
N I C z 9.363684 x USING 100.0000000
T I C Z 9.369035 Z USING 100.00000 00
PREPARED BY MORONEY, BEISSNER & CO., INC.
RUNDATE: 03-25-1991 ® 15:39:54 FILENAI~: LAP KEY: 85REV
•
CITY OF LA PORTE, TEXAS
General Obligation Bonds
Series 1980, 1984, 1985
Refunding Analysis
Prepared by:
Moroney, Beissner & Co., Inc.
Financial Advisor to the City
• CITY OF LA PORTE, TEXAS •
GENERAL OBLIGATION REFUNDING BONDS, SERIES 1991
UP-FRONT SAVINGS
SAVINGS REPORT
- - - - - - - - PROPOSED DEBT SERVICE - - - - - - - - PRIOR
DATE PRINCIPAL COUPON INTEREST TOTAL D/S
8/15/91 136,975.83 136,975.83 257,062.50
2/15/92 50,000.00 5.150000 205,463.75
8/15/92 204,176.25 459,640.00 514,125.00
2/15/93 50,000.00 5.400000 204,176.25
8/15/93 202,826.25 457,002.50 514,125.00
2/15/94 305,000.00 5.550000 202,826.25
8/15/94 194,362.50 702,188.75 754,750.00
2/15/95 470,000.00 5.900000 194,362.50
8/15/95 180,497.50 844,860.00 903,300.00
2/15/96 770,000.00 6.050000 180,497.50
8/15/96 157,205.00 1,107,702.50 1,107,187.50
2/15/97 785,000.00 6.150000 157,205.00
8/15/97 133,066.25 1,075,271.25 1,072,837.50
2/15/98 770,000.00 6.300000 133,066.25
8/15/98 108,811.25 1,011,877.50 1,011,656.25
2/15/99 760,000.00 6.450000 108,811.25
8/15/99 84,301.25 953,112.50 949,643.75
2/15/ 0 470,000.00 6.500000 84,301.25
8/151 0 69,026.25 623,327.50 623,487.50
2/15/ 1 460,000.00 6.650000 69,026.25
8/15/ 1 53,731.25 582,757.50 583,462.50
2/15/ 2 450,000.00 6.700000 53,731.25
8/15/ 2 38,656.25 542,387.50 543,225.00
2/15/ 3 440,000.00 6.800000 38,656.25
8/15/ 3 23,696.25 502,352.50 502,775.00
2/15/ 4 435,000.00 6.850000 23,696.25
8/15/ 4 8,797.50 467,493.75 464,400.00
2/15/ 5 255,000.00 6.900000 8,797.50
8/15/ 5
-
-------------
-------------- - 263,797.50
----------
- 260,625.00
6,470,000.00
3,260,747.08 -
- -
9,730,747.08 -------------
10,062,662.50
ACCRUED
6,470,000.00 3,260,747.08 9,730,747.08 10,062,662.50
DATED 4/15/91 WITB DELIVERY OF 4/15/91
BOND YEARS 50,181.667
AVERAGE COUPON 6.498
AVERAGE LIFE 7.756
N I C 1 6.497885 1 USING 100.0000000
T I C 1 6.471927 1 USING 100.0000000
BOND INSURANCE: ... 0.350000 I OF
(TOTAL DEBT SERVICE - ACCRUED - CAP. INT.) 34,057.61
N 0 T E CUMULATIVE SAVINGS ARE NET OF 66,522.00
NET PRESENT VALUE SAVINGS AT 6.47001 EQUALS 216,112.22 OR
PREPARED BY MORONEY, BEISSNER & CO., INC.
RUNDATE: 03-25-1991 @ 15:20:45 FILENAME: LAP KEY: 91GOREFU
CUMULATIVE
SAVINGS SAVINGS
120,086.67 53,564.67
54,485.00 108,049.67
57,122.50 165,172.17
52,561.25 217,733.42
58,440.00 276,173.42
-515.00 275,658.42
-2,433.75 273,224.67
-221.25 273,003.42
-3,468.75 269,534.67
160.00 269,694.67
705.00 270,399.67
837.50 271,237.17
422.50 271,659.67
-3,093.75 268,565.92
-3,172.50 265,393.42
--------------
265,393.42
265,393.42
3.34021 OF PAR
• CITY OF LA FORTE, TEXAS .
GENERAL OBLIGATION REFUNDING BONDS, SERIES 1991
UPFRONT SAVINGS
DEBT SERVICE SC$EDULE
DATE PRINCIPAL COUPON INTEREST PERIOD TOTAL FISCAL TOTAL
8/15/91 136,975.83 136,975.83 136,975.83
2/15/92 50,000.00 5.150000 205,463.75 255,463.75
8/15/92 204,176.25 204,176.25 459,640.00
2/15/93 50,000.00 5.400000 204,176.25 254,176.25
8/15/93 202,826.25 202,826.25 457,002.50
2/15/94 305,000.00 5.550000 202,826.25 507,826.25
8/15/94 194,362.50 194,362.50 702,188.75
2/15/95 470,000.00 5.900000 194,362.50 664,362.50
8/15/95 180,497.50 180,497.50 844,860.00
2/15/96 770,000.00 6.050000 180,497.50 950,497.50
8/15/96 157,205.00 157,205.00 1,107,702.50
2/15/97 785,000.00 6.150000 157,205.00 942,205.00
8/15/97 133,066.25 133,066.25 1,075,271.25
2/15/98 770,000.00 6.300000 133,066.25 903,066.25
8/15/98 108,811.25 108,811.25 1,011,877.50
2/15/99 760,000.00 6.450000 108,811.25 868,811.25
8/15/99 84,301.25 84,301.25 953,112.50
2/15/ 0 470,000.00 6.500000 84,301.25 554,301.25
8/15/ 0 69,026.25 69,026.25 623,327.50
2/15/ 1 460,000.00 6.650000 69,026.25 529,026.25
8/15/ 1 53,731.25 53,731.25 582,757.50
2/15/ 2 450,000.00 6.700000 53,731.25 503,731.25
8/15/ 2 38,656.25 38,656.25 542,387.50
2/15/ 3 440,000.00 6.800000 38,656.25 478,656.25
8/15/ 3 23,696.25 23,696.25 502,352.50
2/15/ 4 435,000.00 6.850000 23,696.25 458,696.25
8/15/ 4 8,797.50 8,797.50 467,493.75
2/15/ 5 255,000.00 6.900000 8,797.50 263,797.50
8/15/ 5 263,797.50
-------------- -------------- --------------
6,470,000.00 3,260,747.08 9,730,747.08
ACCRUED
6,470,000.00 3,260,747.08 9,730,747.08
~_~~ ~~
DATED 4/15/91 WITH DELIVERY OF 4/15/91
BOND YEARS 50,181.667
AVERAGE COUPON 6.498
AVERAGE LIFE 7.756
N I C Z 6.497885 x USING 100.0000000
BOND INSURANCE: ... 0.350000 Z OF
(TOTAL DEBT SERVICE - ACCRUED - CAP. INT.) 34,057.61
PREPARED BY MORONEY, BEISSNER & CO., INC.
RUNDATE: 03-25-1991 ® 15:15:26 FILENAME: LAP KEY: 91GOREFU
• CITY OF LA PORTE, TEXAS •
GENERAL OBLIGATION REFUNDING BONDS, SERIES 1991
LEVEL ANNUAL SAVINGS
SAVINGS REPORT
- - - - - - - - PROPOSED DEBT SERVICE - - - - - - - - PRIOR
DATE PRINCIPAL COUPON INTEREST TOTAL D/S
8/15/91 136,410.83 136,410.83 257,062.50
2/15/92 85,000.00 5.150000 204,616.25
8/15/92 202,427.50 492,043.75 514,125.00
2/15/93 90,000.00 5.400000 202,427.50
8/15/93 199,997.50 492,425.00 514,125.00
2/15/94 345,000.00 5.550000 199,997.50
8/15/94 190,423.75 735,421.25 754,750.00
2/15/95 515,000.00 5.900000 190,423.75
8/15/95 175,231.25 880,655.00 903,300.00
2/15/96 760,000.00 6.050000 175,231.25
8/15/96 152,241.25 1,087,472.50 1,107,187.50
2/15/97 770,000.00 6.150000 152,241.25
8/15/97 128,563.75 1,050,805.00 1,072,837.50
2/15/98 755,000.00 6.300000 128,563.75
8/15/98 104,781.25 988,345.00 1,011,656.25
2/15/99 745,000.00 6.450000 104,781.25
8/15/99 80,755.00 930,536.25 949,643.75
2/15/ 0 455,000.00 6.500000 80,755.00
8/15/ 0 65,967.50 601,722.50 623,487.50
2/15/ 1 445,000.00 6.650000 65,967.50
8/15/ 1 51,171.25 562,138.75 583,462.50
2/15/ 2 435,000.00 6.700000 51,171.25
8/15/ 2 36,598.75 522,770.00 543,225.00
2/15/ 3 425,000.00 6.800000 36,598.75
8/15/ 3 22,148.75 483,747.50 502,775.00
2/15/ 4 415,000.00 6.850000 22,148.75
8/15/ 4 7,935.00 445,083.75 464,400.00
2/15/ 5 230,000.00 6.900000 7,935.00
8/15/ 5
--
------------
-------------- - 237,935.00
----- 260,625.00
6,470,000.00
3,177,512.08 -------- -
9,647,512.08 -------------
10,062,662.50
ACCRUED
_ 6,470,000.00
~___~~ 3,177,512.08 9,647,512.08 10,062,662.50
DATED 4/15/91 WITH DELIVERY OF 4/15/91
BOND YEARS 48,991.667
AVERAGE COUPON 6.486
AVERAGE LIFE 7.572
N I C x 6.485822 X USING 100.0000000
T I C x 6.458868 R USING 100.0000000
BOND INSURANCE: ... 0.350000 S OF
(TOTAL DEBT SERVICE - ACCRUED - CAP . INT.) 33,766.29
N 0 T E CUMULATIVE SAVINGS ARE NET OF 66,522.00
CUMULATIVE
SAVINGS SAVINGS
120,651.67 54,129.67
22,081.25 76,210.92
21,700.00 97,910.92
19,328.75 117,239.67
22,645.00 139,884.67
19,715.00 159,599.67
22,032.50 181,632.17
23,311.25 204,943.42
19,107.50 224,050.92
21,765.00 245,815.92
21,323.75 267,139.67
20,455.00 287,594.67
19,027.50 306,622.17
19,316.25 325,938.42
22,690.00 348,628.42
--------------
348,628.42
348,628.42
__~~-_
NET PRESENT VALUE SAVINGS AT 6.4500x EQUALS 221,256.13 OR 3.4197x OF PAR
PREPARED BY MORONEY, BEISSNER & CO., INC.
RUNDATE: 03-25-1991 ® 15:31:42 FILENAME: LAP KEY: 91GOREFL
• CITY OF LA PORTE, TEXAS •
GENERAL OBLIGATION REFUNDING BONDS, SERIES 1991
LEVEI. ANNUAL SAVINGS
DEBT SERVICE SCHEDULE
DATE PRINCIPAL COUPON INTEREST PERIOD TOTAL FISCAL TOTAL
8/15/91 136,410.83 136,410.83 136,410.83
2/15/92 85,000.00 5.150000 204,616.25 289,616.25
8/15/92 202,427.50 202,427.50 492,043.75
2/15/93 90,000.00 5.400000 202,427.50 292,427.50
8/15/93 199,997.50 199,997.50 492,425.00
2/15/94 345,000.00 5.550000 199,997.50 544,997.50
8/15/94 190,423.75 190,423.75 735,421.25
2/15/95 515,000.00 5.900000 190,423.75 705,423.75
8/15/95 175,231.25 175,231.25 880,655.00
2/15/96 760,000.00 6.050000 175,231.25 935,231.25
8/15/96 152,241.25 152,241.25 1,087,472.50
2/15/97 770,000.00 6.150000 152,241.25 922,241.25
8/15/97 128,563.75 128,563.75 1,050,805.00
2/15/98 755,000.00 6.300000 128,563.75 883,563.75
8/15/98 104,781.25 104,781.25 988,345.00
2/15/99 745,000.00 6.450000 104,781.25 849,781.25
8/15/99 80,755.00 80,755.00 930,536.25
2/15/ 0 455,000.00 6.500000 80,755.00 535,755.00
8/15/ 0 65,967.50 65,967.50 601,722.50
2/15/ 1 445,000.00 6.650000 65,967.50 510,967.50
8/15/ 1 51,171.25 51,171.25 562,138.75
2/15/ 2 435,000.00 6.700000 51,171.25 486,171.25
8/15/ 2 36,598.75 36,598.75 522,770.00
2/15/ 3 425,000.00 6.800000 36,598.75 461,598.75
8/15/ 3 22,148.75 22,148.75 483,747.50
2/15/ 4 415,000.00 6.850000 22,148.75 437,148.75
8/15/ 4 7,935.00 7,935.00 445,083.75
2/15/ 5 230,000.00 6.900000 7,935.00 237,935.00
8/15/ 5
--
------------
-
------------- --
------------ 237,935.00
6,470,000.00 3,177,512.08 9,647,512.08
ACCRUED
6,470,000.00 3,177,512.08 9,647,512.08
DATED 4/15 /91 WITH DELIVERY OF 4/ 15/91
BOND YEARS 48,991.667
AVERAGE COUPON 6.486
AVERAGE LIFE 7.572
N I C X 6.485822 Z USING 100.0000000
T I C Z 6.458868 x USING 100.0000000
BOND INSURANCE: ... 0.350000 x OF
(TOTAL DEBT SERVICE - ACCRUED - CAP. INT.) 33,766.29
PREPARED BY MORONEY, HEISSNER & CO., INC.
RUNDATE: 03-25-1991 @ 15:29:49 FILENAME: LAP KEY: 91GOREFL
r
CITY OF LA PORTE, TEXAS
REFUNDING CANDIDATES - REQUIREMENTS TO CALL DATES
ESCROW REQUIREMENTS
PV DATE: 4/15/1991 WITH 2 COMPOUNDINGS / 360 DAY YEAR
PV RESULTS: PV TOTAL 6,23 9,772.95 PV RATE = 6.5600000000
CASH - FLOW SUBTOTAL 7,285,187.50
DATE AMOUNT RATE PV FACTOR PV AMOUNT
8/ 1/1991 1,637,437.50 6.5600000 0.98117393 1,606,610.98
8/15/1991 79,625.00 6.5600000 0.97871410 77,930.11
9/15/1991 115,000.00 6.5600000 0.97346381 111,948.34
2/15/1992 79,625.00 6.5600000 0.94763178 75,455.18
3/15/1992 115,000.00 6.5600000 0.94254822 108,393.05
8/15/1992 79,625.00 6.5600000 0.91753658 73,058.85
9/15/1992 115,000.00 6.5600000 0.91261447 104,950.66
2/15/1993 79,625.00 6.5600000 0.88839716 70,738.62
3/15/1993 115,000.00 6.5600000 0.88363136 101,617.61
8/15/1993 79,625.00 6.5600000 0.86018315 68,492.08
9/15/1993 115,000.00 6.5600000 0.85556871 98,390.40
2/15/1994 1,829,625.00 6.5600000 0.83286517 1,523,830.94
3/15/1994 115,000.00 6.5600000 0.82839728 95,265.69
9/15/1994 115,000.00 6.5600000 0.80208877 92,240.21
3/15/1995 2,615,000.00 6.5600000 0.77661577 2,030,850.23
SUBTOTAL ------------
7,285,187.50 ------------
6,239,772.95
PREPARED BY MORONEY, BEISSNER & CO., INC.
RUNDATE: 03-25-1991 ® 14:56: 10 FILENAME: LAP KEY: GOCOMBCALL
r
• • •
• CITY OF LA FORTE, TEXAS
GENERAL OBLIGATION REFUNDING BONDS, SERIES 1991
YIELD CALCULATION
DELIVERY DATE: 4/15/91
par 6,470,000.00
Accrued Interest 0.00
Underwriters Discount ( 0.000000 x) 0.00
Original Issue (+Premium/-Discount) 0.00
Bond Insurance ( 0.350000 I) -34,057.61
Z of (Total D/S -Accrued - 0.00 Cap. Interest)
A11 Other Cost of Issuance expenses 0.00
NON recoverable portion of Cost of Issuance expenses 0.00
------------------
Gross Yield Target Value 6,435,942.39
G R 0 S S Y I E L D 6.56212656 x
MAXIMUM REFUNDING Y I E L D 6.58761671 Z
6.58761671 X = 6.56212656 x + ,,,
(25,000 * 6.56212656 Z)
6,470,000.00 0.00 0.00 0.00 34,057.61
Par +Accrued -Underwriter +prem/-Disc -Allowable Exp
PREPARED BY MORONEY, BEISSNER & CO., INC.
RUNDATE: 03-25-1991 @ 15:14:36 FILENAME: LAP KEY: 91GOREFU
_/
• CITY OF LA PORTE, TEXAS •
REFUNDING CANDIDATES - REQUIREMENTS TO CALL DATES
DEBT SERVICE SCHEDULE
DATE PRINCIPAL COUPON INTEREST PERIOD TOTAL FISCAL TOTAL
8/ 1/91 1,575,000.00 62,437.50 1,637,437.50
8/15/91 79,625.00 79,625.00
9/15/91 115,000.00 115,000.00 1,832,062.50
2/15/92 79,625.00 79,625.00
3/15/92 115,000.00 115,000.00
8/15/92 79,625.00 79,625.00
9/15/92 115,000.00 115,000.00 389,250.00
2/15/93 79,625.00 79,625.00
3/15/93 115,000.00 115,000.00
8/15/93 79,625.00 79,625.00
9/15/93 115,000.00 115,000.00 389,250.00
2/15/94 1,750,000.00 79,625.00 1,829,625.00
3/15/94 115,000.00 115,000.00
9/15/94 115,000.00 115,000.00 2,059,625.00
3/15/95
-- 2,500,000.00
------------ 115,000.00
-------------- - 2,615,000.00
------------- 2,615,000.00
5,825,000.00 1,460,187.50 7,285,187.50
ACCRUED
5,825,000.00 1,460,187.50 7,285,187.50
DATED 4/15/91 WITH DELIVERY OF 4/15/91
BOND YEARS 15,213.750
AVERAGE COUPON 9.598
AVERAGE LIFE 2.612
N I C X 9.597814 Z USING 100.0000000
T I C x 9.675297 x USING 100.0000000
PREPARED BY MORONEY, BEISSNER & CO., INC.
RUNDATE: 03-19-1991 @ 09:43:43 FILENAME: LAP KEY: GOCONIDCALL
• CITY OF LA PORTE, TEXAS
COMBINED G.O. BONDS - REFUNDING CANDIDATES
DATE PRINCIPAL
9/15/91
9/15/92
9/15/93
9/15/94 250,000.00
9/15/95 425,000.00
9/15/96 675,000.00
9/15/97 700,000.00
9/15/98 700,000.00
9/15/99 700,000.00
9/15/ 0 425,000.00
9/15/ 1 425,000.00
9/15/ 2 425,000.00
9/15/ 3 425,000.00
9/15/ 4 425,000.00
3/15/ 5 250,000.00
--------------
5,825,000.00
ACCRUED
5,825,000.00
DEBT SERVICE SCHEDULE
COUPON INTEREST PERIOD TOTAL
257,062.50 257,062.50
514,125.00 514,125.00
514,125.00 514,125.00
504,750.00 754,750.00
478,300.00 903,300.00
432,187.50 1,107,187.50
372,837.50 1,072,837.50
311,656.25 1,011,656.25
249,643.75 949,643.75
198,487.50 623,487.50
158,462.50 583,462.50
118,225.00 543,225.00
77,775.00 502,775.00
39,400.00 464,400.00
10,625.00 260,625.00
-------------- --------------
4,237,662.50 10,062,662.50
4,237,662.50 10,062,662.50
FISCAL TOTAL
257,062.50
514,125.00
514,125.00
754,750.00
903,300.00
1,107,187.50
1,072,837.50
1,011,656.25
949,643.75
.623,487.50
583,462.50
543,225.00
502,775.00
464,400.00
260,625.00
DATED 2/ 1/91 WITH DELIVERY OF 2/ 1/91
BOND YEARS 47,773.611
AVERAGE COUPON 8.870
AVERAGE LIFE 8.201
N I C X 8.870300 R USING 100.0000000
PREPARED BY MORONEY, BEISSNER & CO., INC.
RUNDATE: 03-25-1991 @ 14:53:37 FILENAME: LAP KEY: COMECAND
f~
• CITY OF LA PORTE, TEXAS •
• GENERAL OBLIGATION BONDS, SERIES 1985
REFUNDING CANDIDATES
DEBT SERVICE SCHEDULE
DATE PRINCIPAL COUPON INTEREST PERIOD TOTAL FISCAL TOTAL
9/15/91 115,000.00 115,000.00 115,000.00
3/15/92 115,000.00 115,000.00
9/15/92 115,000.00 115,000.00 230,000.00
3/15/93 115,000.00 115,000.00
9/15/93 115,000.00 115,000.00 230,000.00
3/15/94 115,000.00 115,000.00
9/15/94 115,000.00 115,000.00 230,000.00
3/15/95 115,000.00 115,000.00
9/15/95 115,000.00 115,000.00 230,000.00
3/15/96 250,000.00 9.000000 115,000.00 365,000.00
9/15/96 103,750.00 103,750.00 468,750.00
3/15/97 250,000.00 9.150000 103,750.00 353,750.00
9/15/97 92,312.50 92,312.50 446,062.50
3/15/98 250,000.00 9.250000 92,312.50 342,312.50
9/15/98 80,750.00 80,750.00 423,062.50
3/15/99 250,000.00 9.400000 80,750.00 330,750.00
9/15/99 69,000.00 69,000.00 399,750.00
3/15/ 0 250,000.00 9.500000 69,000.00 319,000.00
9/15/ 0 57,125.00 57,125.00 376,125.00
3/15/ 1 250,000.00 9.500000 57,125.00 307,125.00
9/15/ 1 45,250.00 45,250.00 352,375.00
3/15/ 2 250,000.00 9.600000 45,250.00 295,250.00
9/15/ 2 33,250.00 33,250.00 328,500.00
3/15/ 3 250,000.00 9.600000 33,250.00 283,250.00
9/15/ 3 21,250.00 21,250.00 304,500.00
3/15/ 4 250,000.00 8.500000 21,250.00 271,250.00
9/15/ 4 10,625.00 10,625.00 281,875.00
3/15/ 5 250,000.00 8.500000 10,625.00 260,625.00
9/15/ 5 260,625.00
-------------- -------------- --------------
2,500,000.00 2,176,625.00 4,676,625.00
ACCRUED 19,166.67 19,166.67
2,500,000.00 2,157,458.33 4,657,458.33
~~a
DATED 3/15/91 WITH DELIVERY OF 4/15/91
BOND YEARS 23,750.000
AVERAGE COUPON 9.165
AVERAGE LIFE 9.500
N I C Z 9.164737 Z USING 100.0000000
PREPARED BY MORONEY, BEISSNER & CO., INC.
RUNDATE: 03-25-1991 ® 14:50:35 FILENAME: LAP KEY: 85GO
CITY OF LA PORTE, TEXAS •
GENERAL OBLIGATION BONDS, SERIES 1984 (COLLEGE VIEW)
REFUNDING CANDIDATES
DEBT SERVICE SCHEDULE
DATE PRINCIPAL COUPON INTEREST PERIOD TOTAL FISCAL TOTAL
8/15/91 79,625.00 79,625.00 79,625.00
2/15/92 79,625.00 79,625.00
8/15/92 79,625.00 79,625.00 159,250.00
2/15/93 79,625.00 79,625.00
8/15/93 79,625.00 79,625.00 159,250.00
2/15/94 79,625.00 79,625.00
8/15/94 79,625.00 79,625.00 159,250.00
2/15/95 175,000.00 8.800000 79,625.00 254,625.00
8/15/95 71,925.00 71,925.00 326,550.00
2/15/96 175,000.00 8.900000 71,925.00 246,925.00
8/15/96 64,137.50 64,137.50 311,062.50
2/15/97 175,000.00 9.000000 64,137.50 239,137.50
8/15/97 56,262.50 56,262.50 295,400.00
2/15/98 175,000.00 9.100000 56,262.50 231,262.50
8/15/98 48,300.00 48,300.00 279,562.50
2/15/99 175,000.00 9.200000 48,300.00 223,300.00
8/15/99 40,250.00 40,250.00 263,550.00
2/15/ 0 175,000.00 9.300000 40,250.00 215,250.00
8/15/ 0 32,112.50 32,112.50 247,362.50
2/15/ 1 175,000.00 9.300000 32,112.50 207,112.50
8/15/ 1 23,975.00 23,975.00 231,087.50
2/15/ 2 175,000.00 9.400000 23,975.00 198,975.00
8/15/ 2 15,750.00 15,750.00 214,725.00
2/15/ 3 175,000.00 9.400000 15,750.00 190,750.00
8/15/ 3 7,525.00 7,525.00 198,275.00
2/15/ 4 175,000.00 8.600000 7,525.00 182,525.00
8/15/ 4
--
------------
-------------- --
------------ 182,525.00
1,750,000.00 1,357,475.00 3,107,475.00
ACCRUED 26,541.67 26,541.67
1,750,000.00 1,330,933.33 3,080,933.33
DATED 2/15/91 WITH DELIVERY OF 4/15/91
BOND YEARS 14,875.000
AVERAGE COUPON 9.126
AVERAGE LIFE 8.500
N I C Z 9.125882 Z USING 100.0000000
PREPARED BY MORONEY, BEISSNER & CO., INC.
RUNDATE: 03-25-1991 ® 14:48:58 FILENAME: LAP KEY: 84GO
l ;~
• ~ CITY OF LA PORTE, TEXAS •
GENERAL OBLIGATION BONDS, SERIES 1980
REFUNDING CANDIDATES - EXCLUDE 92 & 93 MATURITIES
DEBT SERVICE SCHEDULE
DATE PRINCIPAL COUPON INTEREST PERIOD TOTAL FISCAL TOTAL
8/ 1/91 62,437.50 62,437.50 62,437.50
2/ 1/92 62,437.50 62,437.50
8/ 1/92 62,437.50 62,437.50 124,875.00
2/ 1/93 62,437.50 62,437.50
8/ 1/93 62,437.50 62,437.50 124,875.00
2/ 1/94 250,000.00 7.500000 62,437.50 312,437.50
8/ 1/94 53,062.50 53,062.50 365,500.00
2/ 1/95 250,000.00 7.500000 53,062.50 303,062.50
8/ 1/95 43,687.50 43,687.50 346,750.00
2/ 1/96 250,000.00 8.000000 43,687.50 293,687.50
8/ 1/96 33,687.50 33,687.50 327,375.00
2J 1/97 275,000.00 8.000000 33,687.50 306,687.50
8J 1/97 22,687.50 22,687.50 331,375.00
2/ 1/98 275,000.00 8.250000 22,687.50 297,687.50
8/ 1/98 11,343.75 11,343.75 309,031.25
2/ 1/99 275,000.00 8.250000 11,343.75 286,343.75
8/ 1/99 286,343.75
-------------- -------------- --------------
1,575,000.00 703,562.50 2,278,562.50
ACCRUED 25,668.75 25,668.75
1,575,000.00 677,893.75 2,252,893.75
DATED 2/ 1/91 WITH DELIVERY OF 4/15/91
BOND YEARS 8,775.000
AVERAGE COUPON 8.018
AVERAGE LIFE 5.571
N I C X 8.017806 x USING 100.0000000
PREPARED BY MORONEY, BEISSNER & CO., INC.
RUNDATE: 03-25-1991 ® 14:41:55 FILENAME: LAP KEY: 80GO
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REQUEST FOR CITY COUNCIL AGENDA ITEM
AGENDA DATE REQUESTED March 25. 1991
REQUESTED BY Jeff Litchfield DEPARTMENT Director of Finance
X REPORT RESOLUTION ORDINANCE
EXHIBITS:
SUMMARY AND RECOMMENDATION
The State Property Tax Code requires that refunds in excess of $500.00 be approved
by the governing body. The individuals or companies listed below have made
duplicate payments or have had value reductions of their taxes and are requesting a
refund.
Individual or Company
Yvonne A. Johnson
La Porte State Bank
Bay Pointe Townhome
Owners Association
Amount of Refund
630.48
1,875.53
1,067.74
ACTION REQUIRED BY COUNCIL:
Approve or disapprove refunds in excess of $500.00.
Reason
Duplicate Payment
HCAD lowered appraisal
HCAD lowered appraisal
AVAILABILITY OF FUNDS:
GENERAL FUND
ACCOUNT NUMBER:
UTILITY FUND
FUNDS AVAILABLE:
OTHER
YES ___ NO
APPROVED FOR CITY COUNCIL AGENDA
Q~M~`~ 1 ~
3- a~-~~
From HUMBLEiC I TY __ _- _ _
M~4.2031 04:30 PM P02
ri~rtis Cowtty
]11ll~~~~ ~L QQ~~~,
A S S O C t A T 1 0 N
Mmrch 4, 1991.
ridemberslaip
Harri$ County Mayors' & Caundls' Association
Dear Member
Texas lava give municipalities a number of rights not held by does in other states.
One of these is thc~ right to regulate electric utility motes and service. Now this
right fs being threatened by Senate Bill ].R9, a proposed amendment to the
Adminfsirative Procedures and Texas Register Act.
Marcy of you reP~sent municipalities which are part of the 31 -city coalition
opposing Houston Lighting ~ Fower Company's pending rate increase request. Over
the last few months, countless hours have been spent negotiating with the power
company, the Public t3tility Commission staff and other intervenors to attemiit to limit
both the size of the increase ae well as the cost of litigation to fight it. An
agreement has not been reached that these partic'lipating in the negotiations believe
fs a good doal far eonsumex-a. Unfortunately, all the e£fori that went into this
negotiated settlement would be lost and our rights abridged if Sli 178 wer8 to pass.
Settlements such ae the one reached on this mate case in no way short circuit the
PUC's hearing and review proces~a. As it stater in the resolution, all parties i1{at
participating in a settlement retain all their normal rlghts. ~ITe just don't want our
rights limited.
1'rn asking your help. Please review the attached resolution and join me in
'supporting it. It voices our support for cities' rights to have their rate ease
settlements considered beforo the PUC, even when some other intervenor uaight not
be signatory to the sottiemex~t. Please Dell James P. Baker; City Nignager, City Qi?
Humble (446-30BIj and give him your position on this important resolution.
sin a ly,
ikon Arohcr, President
Barris County Mayors' ~ Councils' Association
From HUMBLE/CITY
r 04.2031 04:30 PM P03
~.
R13BdLUTIaN Ol?` TH$ HARRIS COUNTY >lIA~'ORS' ~ COUNCILS' ASSdCIATION
Texas municipalities have rights in matters of. electric utility regulation
specifically accorded by slate lsw, and they are empowered to defend their actiax~s
and represent their constituents before the Public Utility Commission of Texas .
These governmental bodies may chcwse to join with other interested panties in
reviewing, negotiating, and settling electric rate matters in the best interest of their
constituents and present such settlement to the Public Utility Commission.
Legislation has been filed with would limit the Commission's ability to consider
such settlements unless all the parties to a rate ease approve. This would give the
power of veto to any individual party in the case, a power that would usurp the
rights of the cities. It also, implies that municipalities within Texas are neither
willing nor able to properly represent their constituents .
THEREFdRl3, the Harris County M~-yars' >~ Cauntdls' Assocdation offers the following
Resolution:
RRBOLUTIUN
WHERSA$, State Law accords to taunicipalities in Texas the right to set electric
rates within their corporate limits, which includes the right to represent their
constituents before the Public Utility Commission and enter rate case settlements
which they find to tie in the best interest oY their constituents; end
WHERBAB, such settlements can sharply reduce litigation costs to constituents and
consumers alike, and provide opportunity for municipalities and other parties to a
rate case to negotiate for specific rate issues of particular benefit to their
constituents; and
1~PHEltBAS, such settlements, when forwarded to the Public Utility Commission of
Texas for considerptia», receiv a afull-evidence public hearing as prescribed by the
Administrative Procedure and Texas Register Act; and
WHEREAS, ton-settling panties to a Hate case have the same rights, whether the
Commission is hearing a rate case or a rate case aecompax~ied by settlement, and may
present ell evidence they wish, cross-examine all witnesses presented by any party,
gnd, if the Commission rejects the settlement in fgvor of the orlginel filing, retain
e' ~ the rights they have in any rate ease; and
WHEI;F.A~S, legislation limiting the Commission's ability to consider a settlement
unless every party agrees would provide veto power to any individual far any reason
regardless of the position taken by the municipalities; grid
NOW THEREFC)RE $]~ IT RBSOLVED, that Harris County Mayors' & Councils'
Association formally and in gGCondance with its bylaws hereby registers its position
i~ Support of muniaipalitios' rights to have rate case settlements they enter duly
considered before the Public Utility Commission of texas, whether an individual
party to the rate case disagrees or Hat, and also be it
FURTHER REBaLYSD, that Barris County Mayor's & Coundl's Association opposes
any law which would in any way restrict municipalities' rights to PUC consideratlax~
of non-ungnimaus settlements.
PASSED, APPROVED and ADOPTED this
day of Maroh, 1991.
WILSON ARCHER, PItE ID1+:NT
A'1'TE57.`:
A. Lee Smith, 5ecnetary/Treasure
3`'~
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1..~~ ~ n/i, ~ .I r,',n ,;u,Uor
March 8, 1991
\\ r;l~ ~ I~.. I'irun;ui. I i~t L/~~iii'nnu;
F?ECEIVED~
MAR 1 1 1991
CI .k Y ,1.9aNAGERS
OFFICE
Mr. Robert T. Herrera, City Manager
City of La Porte
P.O. Box 1115
La Porte, Texas 77571
Dear Mr. Herrera:
Re: City of La Porte
EPA Project C-481176-03
Final Grant Audit Review
t
A final audit review of the above-referenced EPA project has been
completed by this office in accordance with 40 CFR 35.2300(a).
The purpose of our review was to evaluate the statutory and
regulatory eligibility of the City's claimed costs as set forth
in your final EPA Outlay Report dated May 30, 1989. In addition
to reviewing the project files. maintained by this agency, we also
examined on October 18, 1988 and August 24 and 25, 1989, the
financial records maintained by the City.
This review did not include the internal accounting and
administrative controls used by the City in the administration of
the EPA funded project. In this regard, we have relied on the
reviews and assurances provided by the City's independent
auditors for fiscal years 1987, 1988 and 1989. We have conducted
a review of the appropriate single audit report for fiscal year
1988 and have determined that for the purposes of our review,
this report meets the reporting requirements of the SAA.
However, the City remains subject to correcting any program
related findings of single audit reports to be submitted for
fiscal years 1987 and 1989.
I'.U. l;„~ 1 ~'.~l (:,~(~itul titati~m • l,Uli \. (:ntl_'~r.. ~\~rnuc • \u~nn. ~I~r~:;. ~~-11-.;';1
~Irl~}~h~u~ri~l'i~h?-;~~~ •~I~rlcfa~i;~'i-}-~-'ll;.;
Mr. Robert T.
March 8, 1991
Page 2
Herrera, City Manager
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Our records indicate that cash disbursements were made to the
City by EPA as follows:
Fiscal Year 1981 - $2,784,980
1982 - $817,925
1983 - $119,599
1984 - -0-
1985 - $15,096
1986 - -0-
1987 - -0-
1988 - -0-
1989 - -0-
1990 - -0-
1991 - $134,086 (final payment)
As a result of our review, several adjustments were made to your
final-payment request, as reflected in the enclosed Final
Statement of Claimed and Accepted Project Costs. The ending
eligible construction cost for the Naylor and PM Construction
contracts was reconciled with the completion of work originally
authorized in the Tinker/Lovelace contract by TWDB engineering
staff. The bid bond recovery from CAT Contracting was offset by
the costs associated with obtaining the recovery. The net effect
of these adjustments decreased your total eligible claimed
expenses by $154,421.
Other than these matters, nothing came to our attention that
would, in our opinion, have a material effect on the eligibility
of the City's claimed costs. We have therefore processed the
City's final EPA payment in the amount of $134,086.
We appreciate the courtesy and cooperation of the City's staff
during our review. If we can be of further assistance in this
regard, please contact me at (512) 463-8514.
Sincerely,
Richard A. Maddern
Audit Section
Texas Water Development Fund
Enclosure
cc: Mr. Jeff Litchfield, Director of Finance