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Page 1
Laredo ISD -PFCLaredo, Texas
Public Facilities Corporation (PFC) Lease Revenue BondsRating Presentation
October 21-22, 2004 New York, New York
Page 2
Rating Presentation Agenda
(1) Introduction/Purpose (2) Overview of LISD (3) Mission, District Goals, Strategic Plan for
Facilities(4) Construction Update (5) Financial Report(6) Public Facilities Corporation Financing Plan and
Official Statement – Real Estate Transaction (7) Summary (8) Q & A
Page 3
Introduction by EH & Co, Financial Advisor
1. Dr. Dennis Cantu, Board President 2. John P. Montalvo, Vice President3. Sylvia Bruni, Superintendent4. Jesus J. Amezcua, CPA, CFO5. Rosa Maria Torres, Financial
Management Director
1. Noe Hinojosa, EH & Co, Financial Advisor
2. Donald Gonzales, EH & Co, Financial Advisor
3. Juan Aguilera, Bond Counsel, Escamilla and Poneck
4. Carey Troell, Disclosure and Real Estate Counsel, Winstead, Sechrest, & Minick
5. John Kazen, General Counsel, Kazen Murer & Perez
Page 4
Purpose
• To provide information (1) regarding LISD’s PFC – Facilities Program and (2) to highlight the strong financial commitment by the State, the District and the Community toward student success.
Page 5
Board President’s Message
LISD Profile: • 23,881 student
enrollment• 3 high schools, 4 middle
schools, & 20 elementary schools
• 1 Alternative Education Program, and 3 Magnet Schools (Health Sciences and Fine Arts and Communication and Engineering and Technology)
3 Recognized
24 Acceptable
Buenos Aires Elementary
Source: ’03 AEIS Report.
T
A
K
S -A
Y
P
Page 6
LISD Profile• 22,159 ADA• 96.4%
attendance rate
• 59.9% Bilingual
• 95.5% Economic disadvantaged
Source: ’03 AEIS Report.
•12% Special Education•1,080 graduates
•1.0% annual dropout rate
Page 7
LISD Profile (cont’d)
• 99.2% Hispanic• .7% White• 3,458 total FTEs• 1,515 teacher FTEs• 13.3 average years
of experience
Source: ’03 AEIS Report.
Page 8
LISD Profile (cont’d)
• $56,787 taxable value per pupil ($242,809 State)
• $6,671 operating expense per pupil ($7,088 State)
Source: ’03 AEIS Report.
Page 9
LISD Profile (cont’d)
• Urban School System - 13.83 square miles
• Second Largest Employer in Laredo• Border City to Mexico• Webb County Current Population
214,907 (est. 2003)
Page 10
Superintendent’s Focus
Page 11
Mission, District Goals and Strategic Plan for Facilities
• Mission • District Goals • Strategic Plan
for Facilities
Page 12
Mission
• The mission of Laredo ISD, as an educational partner with the City of Laredo and the larger global community, is to develop and educate our students by providing a relevant and challenging curriculum through innovative programs and effective use of resources in a safe and nurturing environment.
Page 13
Student Proficiencies – District Goals
• Students…- will be reading on
grade level.- will complete their
individual course of study and graduate
- will be enrolled in post secondary study or be gainfully employed
Page 14
Facilities Goal => Strategic Plan-Facilities 2000-2005
• LISD – GovernmentCommitment to provide opportunities to 24,000 students
• Public Facilities Corporation (PFC) a tool to maximize resources utilizing State -IFA funding:– To address $75.2M
Notices published in accordance with PFC guidelines. Bond Issue Size produced to maximize State Aid.
Page 15
Facilities Goal => Strategic Plan-Facilities 2000-2005
Basic Facility Needs:• Phase 1 and 2:
– $144M Bond Package– $16M in QZABs– $15M in interest.
• Phase 3 – $75.2M – To be addressed via
PFC• Phase 4
– To be addressed with future Bond Election or PFC $28M
Instructional Facilities Allotment (IFA) applications:
#1 and #2 for $144M
#3 for $75.2M
Page 16
Future Needs to be addressed through future IFA and EDA
Planning estimates:• $8M Shirley Stadium• $6M Food Services Facility• $2M Transportation Facility• $10M Instruction and Fine
Arts Complex• $2M Technology Complex• Total $28M
[ To be addressed through QZAB, CDEs, Bond Election, and PFC]
Page 17
Financial Facilities Management Plan Status
Page 18
Construction Fund Sources/RevenuesAs of 09/30/04
$175,892,209$175,892,209Total Sources
$1,325,920-Interest Pending
Actual BudgetBudget Item
$14,566,289$15,892,209Interest earnings$16,000,000$16,000,000QZAB $144,000,000$144,000,000Bonds
Page 19
Construction Fund ExpendituresAs of 09/30/04
0 Amount pending funding
$175,892,209Budget
Actual Budget Item
$28,166,927Balance to spend
($22,801,750)Encumbered
($124,923,532)Expenditures
Encumbrance means contract awarded and P.O. Issued.
Page 20
Completed Replacement School Projects
Replacement School Projects: 850 Students
– Sanchez/Ochoa Elem.
– Farias Elem.
– Milton Elem.
– Santo Nino Elem.
– Alma Pierce Elem.
– Lamar Middle
Page 21
Completed Renovations– Dovalina Elem. Ligarde Elem. Kawas Elem.
Page 22
Completed Replacement School Projects
• 650 Students– Santa Maria Elem.– Bruni Elem.
– Macdonell Elem.
Page 23
Other New Wings and Improvements Completed
– Cigarroa Middle– Nixon Phase I– Martin Phase I – Cigarroa High Phase I
Page 24
Projects under Construction– Tarver Elem.– Memorial Middle– Cigarroa Middle and– Cigarroa High Phase II
Page 25
Facility Needs and PFC Projects
Page 26
Description of PFC Projects and Timeline
2,147,125Fall 200510. Cigarroa High Literacy Center and Library (#3)
$75,231,375Total
4,617,125Fall 20059. Nixon High Literacy Center (#3)
1,397,125Fall 20058. Martin High Literacy Center (#3)
6,500,000Fall 20057. DD Hachar Elementary (#3)
14,689,000Fall 20056. Martin High (#2)
11,881,000Spring 20055. Christen Middle (#2)
8,500,000Fall 20054. Daiches Elementary (#1)
8,500,000Fall 20053. Leyendecker Elementary (#1)
8,500,000Fall 20052. Buenos Aires Elementary (#1)
8,500,000Spring 20051. Ryan Elementary (#1)
AmountProjectedSchool
( ) Total Denotes Notice in Newspaper
Page 27
Highlight of Needs and PFC Plan (Series A)
Buenos Aires Elementary (850)1924 Originally Built (25) Total Rooms = 621946 -7 classrooms Total Bldg = 211956 -17 classrooms Sq Ft = 40,5461960 Auditorium1969 Library -old1975 -3 classrooms1987 -8 classrooms1988 Library1992 Library Room1993 -2 Classrooms
1 Bldg Replacement School
Total Rooms = 39 and support services
Sq Ft = 92,000
Includes new library, gym, larger cafeteria and music room and art room.
Page 28
FOR INTERIM REVIEW ONLY
OR PERMIT PURPOSES
GUILLERMO J. CAVAZOS
NOT FOR CONSTRUCTION,BIDDING
Fri, 08-Oct-2004
ARCHITECT:TX. REGIS. :
DATE:#4044
CLARK BLVD.
12"OAK
SPR
ING
FIE
LD
AV
E.
10"OAK
8"OAK8"OAK8"OAK 8"OAK12"OAK8"OAK
12"OAK18"OAK18"OAK 24"OAK
O'KANE ST.
LE
XIN
GT
ON
AV
E.
A/C
A/C
A/C
A/C
A/C
DUMPSTERS
A/CA/C
A/CA/C
A/C A/C
SITE PLAN
Page 29
FOR INTERIM REVIEW ONLY
OR PERMIT PURPOSES
GUILLERMO J. CAVAZOS
NOT FOR CONSTRUCTION,BIDDING
Fri, 08-Oct-2004
ARCHITECT:TX. REGIS. :
DATE:#4044
KEY PLAN
ZO
NE
A
ZO
NE
B
ZO
NE
C
ZO
NE
D
ZO
NE
E
OFF
STOR
DELIVERY
SER
VIN
G
KIT
CH
EN
MECH
2ND2ND
JANRR
2ND
OFF
2ND 3RD
GIRLS
3RD
MECH
3RD
2ND
MECH
2ND
ref
frzr
1ST
CAFETERIA
1ST
GYMNASIUM
1ST
BOYS
1ST
MEN
1ST
MECH
1STK
JAN.OFFICE
CENTERRESOURCE
THERAPY
PRINCIPAL
SECRETERIAL
STOR.
3RD
MECH
STAGE
RA
MP
OFFICE
2 FRAMES
DATACOMM.
GIRLS
STACKS
LIBRARY
4TH
TEACHERSLOUNGE
MECH
4TH 4TH 4TH
CONF
PHONES
WRKRM
4TH
ROOMBOOK
5TH
MECH
ELEC
GIRLS
DESK
MECHMECH
BOYS GIRLS
K
WORKROOM
STORAGEA/V
BOYS
K
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K
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STOR
NURSE
MEN
WOMEN
STOR
GIRLS
K
BOYS
PK
MECH
SPEECH
PHYSICALTHERAPY
PK
BOYS
GIRLSBOYS
PK
COMPUTER
5TH
OFFICE
LAB
5TH
IDF
5TH
SCIENCE
STOR
5TH
JAN
ELEC.
LABCOMPUTER
PK
GIRLS
PK
BOYS
FINE ARTS
ART
MUSIC
CONTSELF
CONTSELF
3RD 3RD4TH
ZONE AZONE B
ZONE C
ZONE E
IDF
IDF
RECEPT
CURRICULUMSPECIALIST
JANRR
CLARK BLVD
OUTSTOR
SITE PLAN
FLOOR PLAN
Page 30
Highlight of Needs and PFC Plan (Series A)
Daiches Elementary(650)1920 Originally Built (25) Total Rooms = 471954 -2 classrooms Total Bldg = 191960 -5 classrooms Sq Ft = 42,6531970 -5 classrooms,
library, restrooms1980 – cafeteria 1987 2 classrooms 1988 8 classrooms
1- Bldg Replacement School
Total Rooms = 37 and support services
Sq Ft= 65,000 Includes new library, gym, larger cafeteria and music room and art room.
Page 31
Site Plan
Page 32
Financing PlanFloor Plan
Page 33
Highlight of Needs and PFC Plan (Series A)
Leyendecker Elementary (650)1953 Originally Built (40) Total Rooms = 581956 Additions 6 rooms Total Bldg = 13 1983 Cafeteria Sq Ft = 45,0881988 10 classrooms
(Early Childhood Center)
1995 1 classroom1996 1 classroom
1 Bldg Replacement School
Total Rooms 29+10=39
Sq Ft = 81,000
Includes new library, gym, larger cafeteria and music rooms and art rooms.
Page 34
KEY PLANNORTH
LAREDO INDEPENDENT SCHOOL DISTRICT1702 HOUSTON ST. LAREDO, TX., 78040
J.A.F.M.JM.J
09/1/04021502
Approved:Checked:Drawn by:
Date:
Drawing N°
Job N°
A1-2Sht. of. .
TITLE:
COMPOSITESITE PLAN
SCALE: 1/8" = 1'-0"COMPOSITE SITE PLAN
Floor Plan
Partial Plan - A
Partial Plan - B
Partial Plan – C
Partial Plan – D
Front Elevation
Site Plan
Site Plan
Page 35
FLOOR PLANSCALE: N.T.S.
CLASSROOM CLASSROOM CLASSROOM CLASSROOM
CLASSROOM CLASSROOMCLASSROOMCLASSROOM
CLASSROOM CLASSROOMCLASSROOMCLASSROOM
CLASSROOM CLASSROOM CLASSROOMCLASSROOMCLASSROOM
CLASSROOM
CLASSROOM
CLASSROOM
BOY'ST.R.
GIRL'ST.R. COMPUTER LAB.
COMPUTER LAB.
MDF STORAGETEA.
GYMNASIUM
BOY'ST.R.
GIRL'ST.R.
BOY'ST.R.
GIRL'ST.R.
JANITOR
JANITOR
JANITOR
LIBRARY
MUSIC/FINE ARTS
SCIENCE DEMO LAB.
BOOK RM
CAFETERIA
CORRIDOR
VESTIBULE
VESTIBULE
VESTIBULE
CORRIDOR
CORRIDOR
CORRIDOR
CORRIDOR CORRIDOR
CORRIDORMECHANICAL
CUST. STORAGE CUSTODIAN OFFICE
SELF CONTAINED
SELF CONTAINED
THERAPY RMOCCUPATIONAL / PHYSICAL
THERAPY RMSPEECH LANGUAGE
STOR.TEA.
STOR.TEA.
STOR.TEA.
STOR.TEA.
STOR.TEA.
STOR.TEA.
STOR.TEA.
STOR.TEA.
STOR.TEA.
STOR.TEA.
STOR.TEA.
STOR.TEA.
STOR.TEA.
STOR.TEA.
STOR.TEA.
STOR.TEA.
STOR.TEA.
STOR.TEA.
STOR.TEA.
STOR.TEA.
STOR.TEA.
STOR.
STOR.
LOBBY
DRY STORAGEOFFICE
COOLERFREEZERFOOD PREPERATION
LOCKERSTOILET
LAUNDRY RM.JANITOR'S
OFFICE
STAGE
RAMP
RAMP
STORAGEOUT & IN DOOR
P.E. STORAGE MECHANICALR.R.
A-104
KITCHENLAUNDRY /T.R.
STORAGE STORAGE
STOR.TEA.
STOR.TEA.
WORK RM.
AREASTORY TELLING
STORAGE
STOR.
STOR.TEA.
A-111 A-111
A-115
A-114
A-116
A-117
A-122 A-125
A-124A-123
A-130 A-133
A-131 A-132
A-134
A-129A-126A-121A-118
A-119 A-120
A-100
A-127 A-128
A-105
A-113A-112
CORRIDOR
B-121
B-122 B-123
B-125
B-100
B-103
B-102 B-104
B-101
B-107B-108
B-111B-110B-106
B-117 B-112B-119
B-113
B-116
B-114
B-126
B-115
B-120
C-100
C-101
C-105 C-106
C-102
C-107 C-108
C-103 C-114
C-104 C-113
C-119
C-109 C-110
C-115
C-111 C-112
C-116
C-120
C-122
C-123C-124
C-125C-126
C-127
C-121
C-130
C-131
C-128 C-129
C-133C-135
C-136
C-132
OFFICE
C-134.
AUDIO / VIDEO
C-121
C-137
D-113
D-120D-119
D-126
D-124
D-121
D-122
D-123
D-127
D-134
D-130D-131
D-128
D-129
D-137
D-133
D-132
D-118
D-125
D-135
D-136
D-132
ACCESS
R.R.B-118
X-XX
X-XX
X-X X
X-X X
CORRIDORA-100
CORRIDORA-100
RECEIVINGB-109
CLASSROOM CLASSROOM
E-113
CLASSROOM
E-115
CLASSROOM
E-122
CLASSROOM
E-124
CLASSROOM
E-112
CLASSROOM
E-114
CLASSROOM
E-121
CLASSROOM
E-123
BOY'ST.R.
GIRL'ST.R.
JANITOR
VESTIBULE
E-105
E-104
E-106
E-107
CORRIDOR
E-100
CORRIDOR
E-100
STOR.TEA.
STOR.TEA.
E-108 E-109STOR.TEA.
STOR.TEA.
E-116 E-117STOR.TEA.
E-120
STOR.TEA.
STOR.TEA.
E-110 E-111STOR.TEA.
STOR.TEA.
E-118 E-119
E-103
1A /A3-1 1B /A3-1
2A /A3-2 2B /A3-2
1A /A
3-3
1B /A
3-3
1A /A
3-4
1B /A
3-4
2 /A3-1
1 /A3-2
2 /A
3-3
2 /A
3-4
6"DROP
6"DROP
6"DROP
4' T
.B.
PRO
J. S
C.
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.4'
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.
MECHANICAL
ART RM
A-103
A-101
STORAGE
A-102
ASST. PRINCIPAL
COUNSELOR
ROOM
A-110
IDF
DIAGNOSTICIAN
STOR.ASST.
A-109
T/R
VEND.REF'G. VEND. VEND. VEND.
PRINCIPALSTORAGE
ADMINISTRATION
WORKROOMADMINISTRATION
PURPOSE RMMULTI
MEN'S
WOMEN'S
TEACHER'S LOUNGE
NURSE CLINIC
WORK AREASECRETARY
RECEPTION
PHONE
STORAGE
HALL
HALL
D-104D-103D-107
D-108 D-109D-102
D-100
D-114
D-138
D-112
D-111
D-110
D-115
D-116
D-117
X-XX
X-XX
T.R.
T.R.
mailboxes
STOR.D-101A
D-101
STOR.D-105
STOR.D-106
WORKROOMTEACHER'S
MDF
E-102
E-101
T/R
A-137STOREMEN'S
A-135T.R.
OFFICE
B-124
C-118
WORKROOMTEACHER'S
C-117
RESOURCE CENTER
STOR.C-18A
WORKROOM
TEACHER'S
A-136STORAGE
OUT DOOR
BOOTH
BOOK SHELVES
A-106 A-107
A-108
KEY PLANNORTH
LAREDO INDEPENDENT SCHOOL DISTRICT1702 HOUSTON ST. LAREDO, TX., 78040
J.A.F.M.JM.J
09/1/04021502
Approved:Checked:Drawn by:
Date:
Drawing N°
Job N°
A2-0Sht. of. .
TITLE:
FLOOR PLAN
Floor Plan
Partial Plan - A
Partial Plan - B
Partial Plan – C
Partial Plan – D
Front Elevation
Site Plan
Floor Plan
Page 36
Highlight of Needs and PFC Plan (Series A)
Ryan Elementary (850)1954 Originally Built (45) Total Rooms = 641960 - 9 classrooms Total Bldg = 111980 –cafeteria Sq Ft = 48,1881991 bookroom1992 nurses clinic 1993 -10 classrooms
for ECC
1 Bldg Replacement School
Total Rooms = 39 and support services
Sq Ft = 87,000 Includes new library, gym, larger cafeteria and music room and art room.
Page 37
Site Plan
Page 38
Floor Plan
Page 39
Highlight of Needs and PFC Plan (Series B)
DD Hachar Elementary (650)1974 Originally Built (20) Total Rooms = 221960 Red School 2 classrooms Total Bldg = 2
Sq Ft = 28,025Additions to School
Total Rooms = 13
Total Bldg = 3
Sq Ft= 58,000 Includes new library, gym, larger cafeteria and music room and art room.
Page 40
FOR INTERIM REVIEW ONLY
OR PERMIT PURPOSES
GUILLERMO J. CAVAZOS
NOT FOR CONSTRUCTION,BIDDING
Fri, 08-Oct-2004
ARCHITECT:TX. REGIS. :
DATE:#4044
R AMP1:12 MAX
R AMP1:12 MAX
1:20 MAXSLOPE
SLO
PE1:
20 M
AX
1:20
MAX
SLO
PE
VAN
SERVICE
VAN
A/C
A/C
A/C
A/C
A/C
A/C
1:50S
LOPE
1:20SLOPESLOPE
1:20
SLOPE1:20
SLO
PE1:50
SLOPE1:20
1:20SLOPE
1:50S
LOPE
1:20SLOPE
SITE PLAN
Page 41
KEY PLAN
FOR INTERIM REVIEW ONLY
OR PERMIT PURPOSES
GUILLERMO J. CAVAZOS
NOT FOR CONSTRUCTION,BIDDING
Fri, 08-Oct-2004
ARCHITECT:TX. REGIS. :
DATE:#4044
JAN-2
STORA
GE
STOR
JAN-1
WOMEN
MULTI-PURP
MENS
TEACHERS
MULTI-PURP
5
RESOURCE
LOUNGEMEN
CURR.SPECI
EXISTINGRECREATIONCENTER
A/C UNIT
MECH
CAFETERIA
JANOFFICE
MECHMECH
COMP.TEACHERSLOUNGE
4
CENTER
DOWNRAMP
RAM
PD
OW
N
RAMP
DOW
N
DOWNRAMP
DO
WN
RA
MP
DO
WN
RA
MP
DO
WN
RA
MP
LANDING LANDING
LANDINGLANDING
DESK
@ 18" AFF
24" x 48"
FLOOR PLAN
Page 42
Highlight of Needs and PFC Plan (Series C)
Christen Middle 1930 Originally Built (84) Total Rooms = 1411960 -3 classrooms Total Bldg = 241965 -35 classrooms Sq Ft = 125,320
& girls gym1976 dressing rooms
band hall /vocational
1987 -8 classrooms1988 -11 classrooms
and gym
Replacement School
Total Rooms = 67
Total Bldg = 24+1=25
Sq Ft= 119,000
Page 43OVERALL EXISTING SITE PLAN
CHRISTEN MIDDLE SCHOOL CAMPUS
L.J. CHRISTEN MIDDLE SCHOOL
SAN
TA
MA
RIA
AV
E
PARK ST
CHRISTEN MIDDLE SCHOOL CAMPUS
BOYSGYM
CLASSROOMWINGS
GIRLSGYM
CLASSROOMWINGS
ANNEX BLDG
LIBRARY
MAIN BUILDING
Site Plan
Page 44
NEW STAFF PARKING
ENTRYWAY
EXIT ONE WAY ONLY
127 SPACES
STAFF ENTRY & EXIT ONLY
STAFF & VISITORS ENTRY & EXIT ONLY
KITCHEN/CAFETORIUM
L.J. CHRISTEN MIDDLE SCHOOL
SOUTH STAFF/LOOP
PARKING
MAIN BLDG.
WEST STAFFPARKING
LIBRARY
BAND HALL
GIRL’S GYM
NORTHWEST CLSRM. WINGS NORTHEAST CLSRM
WINGS
BOYS’GYM
Floor Plan
Page 45
L.J. CHRISTEN MIDDLE SCHOOL
FLOOR PLAN
Page 46
Highlight of Needs and PFC Plan (Series C & E)
Martin High (Series C) and Literacy Center (Series E)1937 Originally Built (100) Total Rooms = 1301950 AD Office Total Bldg = 271955 –Building classrooms-10 Sq Ft = 213,132vocational, ROTC, dressingRooms, Special ed, Shirley Field1976 - 7 classrooms, Tigers Den1988 cafeteria, field house1989 3 classrooms1992 1 bookroom &
science wing 10 rooms1994 library
Additions to School
Total Rooms = 49 and band hall
Total Bldg = 27+2=30
Sq Ft= 108,000
Page 47
MARTIN HIGH SCHOOL
OVERALL EXISTING SITE PLAN
CHRISTENMIDDLE SCHOOL
SHIRLEY
STADIUM
MARTIN
HIGH SCHOOL
PARK STREET
SAN
BE
RN
AR
DO
AV
E.
Site Plan
Page 48
EXPANSIONKITCHEN
VO
CATIO
NAL
BAND HALL
ACAD
EM
IC
SP ED. LITERACYCENTER
CLASSROOMS
NEW
DEPT.
AREAS
REMODEL
EXPANSION ATHLETICNEW
EXPANSION EXPANSION
DRESSINGGYMNEW
NEWPARKINGN
EW D
RO
P/PI
CK
UP
LOO
P
TE
PARKINGNEW
LL
EXT’G GYM
MAGNET SCHOOL
WELLNESS CETER
MAIN BLDG.
EAST PARKING
ACADEMIC BLDG
BAND HALL
SOUTH PARKING
TENNIS COURTS
MARTIN HIGH SCHOOL
SHIRLEY STADIUM
BAND HALL
SCIENCE
VOC.
SELF. CONT
LIBRARY
FIELD HOUSE
LITERACY CENTER
KITCHEN EXPANSION
VOCATIONAL
Floor Plan
Page 49
MARTIN HIGH SCHOOL
815
815
726
1ST FLOOR PLAN
Page 50
MARTIN HIGH SCHOOL
2ND FLOOR PLAN
995
965965
965
815
815
726
Page 51
MARTIN HIGH SCHOOL
1ST FLOOR PLAN
995
965965
965
2ND FLOOR PLAN
LITERACY CENTERMARTIN HIGH SCHOOL
LITERACY
LITERACY
OFFICE
LITERACY
ELEMENTARY
LITERACY LITERACY LITERACY
LITERACY
Page 52
Highlight of Needs and PFC Plan (Series D)
Cigarroa High Literacy Center and New Library1983 Originally Built (67) Total Rooms = 671983 PEP Program Total Bldg = 42004 Improvements Sq Ft = 140,904
Additions to School
Total Rooms = 6
Total Bldg = 4+2= 6
Sq Ft= 19,860
Page 53
Site Plan
Page 54
Floor Plan
Page 55
Floor Plan
Page 56
Highlight of Needs and PFC Plan (Series F)
Nixon Literacy Center1964 Originally Built (83) Total Rooms = 1371976 -3 classrooms Total Bldg = 301985 -18 classrooms Sq Ft = 224,7321987 - 8 classrooms &
field house1987 15 classrooms,
cafeteria &Nixon Annex
1996 Band Hall2004 Wellness Center -10
Addition to School
Total Rooms = 6
Total Bldg = 30+1= 31
Sq Ft= 9,500
Page 57
FOR INTERIM REVIEW ONLY
OR PERMIT PURPOSES
GUILLERMO J. CAVAZOS
NOT FOR CONSTRUCTION,BIDDING
Thu, 07-Oct-2004
ARCHITECT:TX. REGIS. :
DATE:#4044
SLO
PE
1:20
1:50SLOPE
1:20
SLO
PE
77 CARS THIS BLOCK
LITERACY CENTER9,434 S.F.
PO
RC
H
27
VAN
A/C
SITE PLAN
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FOR INTERIM REVIEW ONLY
OR PERMIT PURPOSES
GUILLERMO J. CAVAZOS
NOT FOR CONSTRUCTION,BIDDING
Thu, 07-Oct-2004
ARCHITECT:TX. REGIS. :
DATE:#4044
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CLASSROOM ROOMWORK
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MDF MECH
STOR.
PORCH
PORCH
FLOOR PLAN
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CFO’s Financing Plans
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Financing Plan and Official Statement
• $75,200,000 PFC Bond Sale
• Nov 10th
Pricing Date• Dec 16th
Closing Date
Amount of State Aid
$4,500,000
Local Funds
$1,000,000 Budgeted in 04-05
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Financing Detail to be
distributed at the meeting.
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Laredo ISD PFC-Legal Structure• Multiple Project Notices – LISD published four separate project
notices based on flexibility and available TEA Instructional Facilities Allotment (IFA) funds and ranking
• Structure – Based on four separate notices, Series 2004-A, B, C D, E, F with separate financing documents and collateralization (trust agreement, lease agreements, deeds of trust and construction contracts.)
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Series 2004-A, B, C, D, E & F• Series 2004-A – Approximately $33.550M Bonds issued to finance projects at
Buenos Aires, Daiches, Leyendecker and Ryan Elementary Schools
• Series 2004-B – Approximately $6.5M Bonds issued to finance DD Hachar Elementary School
• Series 2004-C – Approximately $26.570M Bonds issued to finance projects at Christen Middle School and Martin High School
• Series 2004-D – Approximately $2.150M Bonds issued to finance a Literacy Center and Library at Cigarroa High School
• Series 2004-E – Approximately $1.4M Bonds issued to finance projects at Martin High Literacy Center
• Series 2004-F – Approximately $4.620M Bonds issued to finance projects at Nixon High Literacy Center
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Real Estate Related Legal Issues
• Cross Collateralization – The Series 2004-A Bonds will have cross collateralization of the Buenos Aires, Daiches, Leyendecker and Ryan Elementary School Projects. The Series 2004-C Bonds will have cross collateralization of the Christen Middle School and Martin High School Projects.
• Blanket Easement Issue – Land transferred to the District (PFC) by the City of Laredo for the Buenos Aires, Daiches and Ryan Elementary School project sites contained a blanket easement allowing the placement and access to utility easements anywhere on the land. The District is relocating the existing utilities and the City has agreed to accept a defined easement of the relocated utilities.
• Utility Agreement – Certain projects will be constructed where old buildings currently exist and utilities for other buildings on the same campus that are not part of the project are receiving utility service. Due to the location and some of the requirements of the utility company there may be some limited or restricted access to utilities. The District has agreed to provide for a Utility Agreement which will require the District to provide utilities to the facilities in the event of default on the Bonds and subsequent foreclosure.
• Insurance Coverages – The District is carrying a $5 million umbrella policy on the projects. The amount of insurance required to be carried by the Architects is $1 million. All other insurance coverages, including the District’s all-risk insurance, the Construction Manager at Risk’s insurance on the projects and the Payment and Performance Bonds, will be procured and maintained continuously in effect with respect to the Projects to the extent of the principal amount of the Bonds.
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CFO’s Report
Page 66
Financial Report
• A. Annual Operating Budget Highlights• Major Revenues and Expenditures• Financial Statements• Summary of Finances (Template)• FIRST
• B. New Legislation Impact• Robin Hood Plan
• C. State of Texas Financial Commitment• D. Fund Balance Policy• E. Vibrant Economy www.laredoisd.org
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Budget - $156M Projected M&0 Revenues
• State $128,863,341 83%
• Local $27,059,920 16%
• Other $913,000 1%
Includes 4% of collections towards PFC. Or $120,000 x 4 =
$480,000 in local funds and $600,000 in tier 2 funds.
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Budget - Revenues (Cont’d)
• Total Tax Rate $1.47411 per $100• $.151200 per $100 for Debt Service• $1.32291 per $100 for Maintenance & Operations
• Adequate capacity to issue new debt• (MAX capacity $1.50 per $100) • Fourth lowest rate in Region.
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Budget - State Aid
• TEA Summary of Finances -$128.8M in State Aid including….
• $56.3M Regular• $3.6M Bilingual• $11.8M State Comp• $19.6M Special Ed• $372K Gifted &
Talented• $41.2M Tier 2
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Budget - Expenditures• Instruction 62.9%• Instructional Admin 8.5%• Student Services 10.4%• General Admin 4.1%• Plant Maintenance 13.8%• Others .03%
Includes $3,000,000 reserved in Fund Balance due to budgeting at 92% but collecting 96%.
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Robin Hood Plan
• Partners with Property Rich School Districts since 1995. • 2003-2004 $8,200,000 Gain• 2004-2005 $6,500,000 Gain• Cost per Weighted Average Daily Attendance (WADA)
in other Districts = Avg. $4,400• Cost per WADA in LISD = $3,956• Avg. = $443 and $3,956 returned to State and $3,956
received from other district
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New Legislation Impact /Robin Hood
• Judge Dietz ruled School Finance System unconstitutional and Legislature must now revise it.
• Impact if changed: Protect revenue streams 1. Hold Harmless Clause2. Close the GAP between LISD and
property rich districts
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FIRST Rating
• 22 Indicators
• Superior Achievement for 2nd year in a row
• GFOA Award for Excellence in Financial Reporting and Budgeting – 6 yrs in a row
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State of Texas Commitment
• Insured Financing
• IFA Commitment for New Debt -82%
• Current Debt Service Relief EDA - 82%
Ranked 13th and received NOGA from TEA on IFA award towards the PFC. $4.5M in State funding for PFC Bond.
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Fund Balance Policy
• Goal: Two months operating fund balance policy approved by the Board
• Tier 1 district cash flow is spread over 10 months
• Current Fund Balance is projected at $14Mor 10% of projected expenditures.
EndingFundBalance
Revenues
ExpendituresTransfersIn/Out
BeginningFundBalance
Page 76
Laredo’s Economy
Page 77
Economy in LISD• Economy- Vision ‘04
• International Trade• Construction
Activity• Retail & Sales Tax • Population growth
indicators
http://www.cityoflaredo.com/
Page 78
International Trade • Over 38% of trade between US & Mexico is done through the Port of Laredo
• Over 1.354Mnorthbound trucks and 1.264M southbound trucks
Source: Real Estate Center at TAMU
Over 163k northbound and over 202ksouthbound rail carsOver 276M lbs Air cargo shipments
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Construction Activity
• 3,768 building permits in 2003• $255,715,049 in building value in 2003
Source: Texas Center at TAMIU.
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Retail Sales Tax Rebates
• 7% increase in Sales Tax Rebates from 2002
• Strong retail market and trade with Mexico
• $22,863,574 sales tax rebates to the City
Source: Real Estate Center at TAMU.
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Population growth indicators
• Fastest growing City in US and Texas and 29th
ranked in growth since 2000• Population Projected at 215,000• 3rd lowest cost of living city in the nation
Source: Real Estate Center at TAMU
Page 82
Growth IndicatorsIn the past five years:• 15.42% increase in work
force and in employed persons
• 28.57% increase in total wages
• 12.04% increase in number of employers
• 24.44% increase in electric connections
Source: Laredo Development Foundation
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Summary: Financing Plan
1. IFA -State Support = 82%2. Bond Insured3. Strong collection effort = 96%+4. M&O Capacity 5. WADA Contracts6. Controlled growth7. Planned expenditures8. FIRST Superior Achievement - 2
yrs9. GFOA Recognition – 6 yrs10. Proven Leadership
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Q & AAdditional questions, please contact:
Donald Gonzales, Estrada Hinojosa & Co. Inc. Financial Advisor
phone = (210) 223-4888fax = (210) 223-4849cell = (210) 393-3010email = [email protected]
Jesus J. Amezcua, CPAChief Financial Officer
phone = (956) 795-3254fax = (956) 795-3253cell = (956) 324-9827e-mail = [email protected]