Utility Debt Service

The primary source of revenue for the Utility Debt Service Fund is revenue from fees charged for water and sewer services. Other funding for the utility debt payments include water and sewer impact fees.

UTILITY DEBT SERVICE FUND STATEMENT

Beginning Fund Balance

Transfers In Utility Fund Water Impact Fund Sewer Impact Fund History Projected Budget

2019 Actual2020 Budget2020 Revised2021 Budget% Change

544,047 544,630 544,630 338,316 -37.81% 151,963 154,250 154,250 156,100 2.72% 19,910 20,095 20,095 20,259 1.75% 715,920 718,975 718,975 514,675 -28.11%

Total Revenue 715,920 718,975 718,975 514,675 -28.11%

Expenditures Fees Paid to Agencies for Bonds - - - - Bonds Retired 570,000 590,000 590,000 405,000 -28.95% Bond Interest 145,920 128,975 128,975 109,675 -24.84% 715,920 718,975 718,975 514,675 -28.11%

Ending Fund Balance

The Utility Debt Service Fund maintains a zero fund balance. The exact amounts necessary to cover debt payments are transferred in at the beginning of each Fiscal Year.

Utility Debt Service

Series 2011 Combo Certificates of Obligation Series 2014 GO Refunding (2005A) Series 2014A GO Refunding (2005B)

Prinicipal Interest Annual Payment

140,000.00 73,862.50 213,862.50 130,000.00 14,712.50 144,712.50 135,000.00 21,100.00 156,100.00

405,000.00 109,675.00 514,675.00

Utility Debt Service Payment Schedules by Bond Series

The three current outstanding water sewer debt issues owed as of Fiscal Year 2021 total $3,877,737. This is the total of $3,320,000 in remaining principal payments and $557,737 in interest.

Utility Debt Service Fiscal Year Principal Interest Total Payments 2021 405,000 109,675 514,675 2022 415,000 96,938 511,938 2023 440,000 83,606 523,606 2024 455,000 69,119 524,119 2025 465,000 53,856 518,856 2026 170,000 42,663 212,663 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

3,320,000 557,737 3,877,737

2011 Tax & Waterworks & Sewer System 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

2011 Combo Certificates of Obligation Fiscal Year Principal Interest Total Payments

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

1,905,000 453,956 2,358,956

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.

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.. "

2014 General Obligation Refunding Fiscal Year Principal Interest Total Payments

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

695,000 42,012 737,012

Tax and Waterworks and 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: - Trinity & Main Street Sewer - Pacific Sewer Connection & Lift Station Elimination - Trinity Sewer Connection & Lift Station Elimination - Knox Sewer Connection & Lift Station Elimination - Replace Sewer Line North of HWY 80 between FM 740 & FM 548 - Buffalo Creek Sewer Connection & Lift Station Elimination - Broad Street Water Line - Elevated Water Storage

All proceeds from the 2014 General Obligation Refunding have been spent.

2014A General Obligation Refunding

2014A General Obligation Refunding Fiscal Year Principal Interest Total Payments

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

720,000 61,769 781,769

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 and Waterworks and 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.