HomeMy WebLinkAboutContract 53825 February 28,2020 CITY SECRETARY co► mcf No. 53$aJ
Weaver and Tidwell,L.L.P.
2821 West 7th Street, Suite 700
Fort Worth,Texas 76107
We are providing this letter in connection with your agreed-upon procedures performed over
calculating the Ratio of"Net Revenues"of the City of Fort Worth,Texas Waterworks and Sewer
System(the System)to average and maximum annual principal and interest of the System's debt
obligations,including the System's Revenue Bonds, Series 2020 as received from the City, as of
or for the year ended September 30,2019,for the purpose of reporting your findings to the
specified parties in regards to the subject matter.
We confirm,to the best of our knowledge and belief,as of February 28,2020,the following
representations made to you during your engagement:
1. We affirm our assertion about the calculation of the Ratio of"Net Revenues"of the City
of Fort Worth,Texas Waterworks and Sewer System (the System)to average and
maximum annual principal and interest of the System's debt obligations,including the
System's Revenue Bonds, Series 2020 as received from the City, as of or for the year
ended September 30,2019,based on the System's debt service requirements by year.
2. All known matters contradicting the calculation of the Ratio of"Net Revenues"of the
City of Fort Worth, Texas Water Sewer System and any communication from regulatory
agencies or others affecting the calculation of the Ratio of"Net Revenues" of the City of
Fort Worth,Texas Water Sewer System have been disclosed to you,including
communications received between the end of the period addressed in the written assertion
and the date of the practitioner's report.
3. We are responsible for:
a. The fair presentation of the calculation of the Ratio of"Net Revenues"to the debt
service requirements and management's assertion regarding the calculation of the
Ratio of"Net Revenues";
b. Selecting the criteria; and
c. Determining that such criteria are appropriate for our purposes.
4. We have provided you with all relevant information and access.
5. We understand that your agreed-upon procedures engagement was conducted in
accordance with attestation standards established by the American Institute of Certified
Public Accountants and was designed for the purpose of reporting your findings in
regards to the calculation of the Ratio of"Net Revenues"as compared to the debt service
requirements, and that your procedures were limited to those that you considered
R necessary for that purpose.
OFFICIAI.RECt)
� D CITY SECRErW
DEPARTMENT OF FINANCE
2� 2020 FT WORTH,
pQ� THE CITY OF FORT WORTH•200 TEXAS STREET•FORT WORTH,TEXAS 76102
(817)392-8500+FAX(817)392-8502
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6. We represent that the calculated ratios are presented in conformity with the subject
matter.
7. We have communicated and disclosed all matters to you that may contradict the
calculations, if any.
8. We have communicated and disclosed to you all correspondence or other
communications we have received from regulatory authorities regarding the System's
debt obligations.
9. We have made all records applicable to the procedure performed available to you in the
conduct of your engagement.
10. We represent that use of your report will be restricted to within the City of Fort Worth,
the Attorney General of the State of Texas, and bond counsel to the City .
11. To the best of our knowledge and belief,we have disclosed all events that have occurred
subsequent to September 30,2019 and through the date of this letter that would affect the
presentation of the subject matter,or your report.
Reginald Zeno, Chief Financial Officer
FORT WORTH.
OFFICIAL RECOIL
CITY SECRETARY
DEPARTMENT OF FINANCE FT. WORTH,TX
THE CITY OF FORT NORTH'200 TEXAS STREET•FORT WORTH,TEXAS 76102
(817)392-8500"FAX(817)392.8502