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An Ordinance Ordering a Special Election to be held on November 8, 2016, for the issuance of General
Obligation Bonds to fund the Capital Street Improvement Project
Presented By: Mark BrowneCity Manager
Item No. 5August 22, 2016
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Introduction• Staff has estimated approximately $12 million in Capital
Infrastructure Improvement Projects for City Council consideration
• Scope of work includes • Mill and Overlay of various streets within the City • Re-construction of seven streets with new curbs and
sidewalks • Streets not identified have received paving in the last 8
years and streets needing Util ity improvements mandated by TCEQ
• The City is proposing to issue debt to fund these infrastructure improvements
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Application Types
• Mill and Asphalt Overlay involves the milling of existing asphalt and the overlay of a new asphalt surface
• Street Reconstruction involves the complete removal and replacement of the asphalt and base materials as well as new sidewalks and curbs
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New
ly Paved
Full Reconstruction
5
Reconstruction will include new curbs and Sidewalks
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Mill and Overlay – Curb to Curb
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Wedge Mill – milling of the curb edges prior to asphalt overlay of full street
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Tax Rate Analysis• Current Property Tax Rate
• M&O Rate $0.330762• I&S Rate $0.059500• Total Rate $0.390262
• With proposed bond issuance Property Tax Rate wil l not increase unti l 2018 • Current I&S Rate $0.059500• Estimated Increase $0.035700• Total I&S Rate $0.095200
• Then decrease in 2033• Decrease $0.031800• Estimated I&S Rate $0.063400
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Preliminary Tax Rate AnalysisExisting Tax-Supported
D/S
Principal Interest Total Projected Total Tax-Supported
D/S
$9,917,486 $12,000,000 $5,441,677 $17,441,677 $27,359,163
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SAMPLE STATEMENT ON 2015 AVERAGE TAXABLE HOME VALUE IN ALAMO HEIGHTS, TEXAS
Taxing Unit Assessed Value Homestead Exemption
Taxable Value 2015 Rate per $100 Tax Levy % of Total
Levy
Alamo Heights I.S.D. $559,986 $25,000 $534,986 $1.195000 $6,393 44%
City of Alamo Heights $559,986 N/A $559,986 $0.390262 $2,185 15%
Alamo Community College Dist. $559,986 N/A $559,986 $0.149150 $835 6%
Bexar County $559,986 N/A $559,986 $0.297500 $1,666 12%
University Health System $559,986 N/A $559,986 $0.276235 $1,547 11%
County Road & Flood $559,986 $3,000 $556,986 $0.297500 $1,657 12%
S.A. River Authority $559,986 $5,000 $554,986 $0.017290 $96 1%
Total $2.622937 $14,379 100%
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SAMPLE STATEMENT ON 2018 AVERAGE TAXABLE HOME VALUE IN ALAMO HEIGHTS, TEXAS
Taxing Unit Assessed Value Homestead Exemption
Taxable Value 2015 Rate per $100 Tax Levy % of Total
Levy
Alamo Heights I.S.D. $559,986 $25,000 $534,986 $1.195000 $6,393 44%
City of Alamo Heights $559,986 N/A $559,986 $0.425962 $2,385 16%
Alamo Community College Dist. $559,986 N/A $559,986 $0.149150 $835 6%
Bexar County $559,986 N/A $559,986 $0.297500 $1,666 11%
University Health System $559,986 N/A $559,986 $0.276235 $1,547 11%
County Road & Flood $559,986 $3,000 $556,986 $0.297500 $1,657 11%
S.A. River Authority $559,986 $5,000 $554,986 $0.017290 $96 1%
Total $2.663937 $14,579 100%
TOTAL DEBT SERVICE
Original Issues General Fund UtilityLast
Payment
* 2007 CO $7.5 million (GF $5.165 m and Utility $2.335 m) 1,073,059$ 232,814$ Aug 2017
2012 GO $6.3 million City Hall Building 7,137,128$ ‐$ Aug 2032
2016 GO REFUNDING $2.975 million 1,707,298$ 1,674,158$ Aug 2027
Total (Principal and Interest) 9,917,486$ 1,906,971$ 11,824,457$
Note* 2007 Bonds were for General Fund and Utility FundNew fire fighting and rescue apparatusRepairs, extensions and improvements to water system Repairs, extensions and improvements to sewer system Construct street and sidewalk improvements and related pedestrian amenitiesFund storm water drainage master planRepair, modify and renovate various City facilitiesPay for professional services related to these projects and pay for cost of issuance
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Map of Streets
1515
• Two Public Informational Meetings were held
at City Hall introducing proposed project
− June 29th
− July 20th
• The information was also placed on the City
Website for citizens who could not attend the
meetings
Background
1616
• City Council of the City of Alamo Heights,
Texas shall be authorized to issue bonds in the
amount of $12,000,000 for the purpose of
constructing and/or repairing streets, curbs,
sidewalks and related drainage improvements
with the bonds.
Proposition
1717
• City Council shall be authorized to levy and
pledge, and cause to be assessed and
collected, annual ad valorem taxes on all
taxable property in the City, to pay the annual
interest on the bonds and provide a sinking
fund to pay the bonds at maturity.
Proposition
1818
• Early Voting Lion’s Field Adult /Senior Center, Olmos Park City
Hall, and Tobin Library are included in the list of Early Voting locations
October 25, 2016 – November 4, 2016• Election Day Voting Tuesday, November 8, 2016 Precincts 3020 & 3026 at Alamo Heights Baptist
Church, 6501 Broadway Precinct 3025 at City Hall, 6116 Broadway 7:00 a.m. – 7:00 p.m.
Election Information
1919
• Voting information will be available:
City’s website
September/October newsletter
Publications will be in the San Antonio Express-
News and La Prensa
Call City Secretary at 832-2209
Election Information (con’t)
2020
• Texas Government Code, Chapter 1251
allows the municipal authority to call
general obligation bond elections.
Policy Analysis
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Fiscal Impact• If approved by the voters, tax-exempt general
obligation bonds would be sold at an
advantageous time for the City depending upon
interest rates and market conditions in or about
early 2017.
• The City should realize cost savings by
participating in the Joint Election.
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QUESTIONS
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