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Home My WebLink AboutIR 7252 INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 7252_ p.1 #,a TS.1,0 tOR "i% ?;, To the Mayor and Members of the City Council January 26, 1988 Subject: REVISED BOND SALE FOR 1988 Date January 22, 1988 City staff's revised bond sale for 1988 consists of two seperate bond sales for March 8, 1988: General Obligation Bond Sale $ 27,855,000 Revenue Bond Sale S 18,875,000 On January 5, 1988, Council received IR 7247, Subject: Bond Sales for 1988. The IR contained a recommended General Obligation bond sale for $37,855,000 and a recommended Revenue bond sale for $18,875,000. A list of propositions and projects to support the sales was included in the IR. On January 19, 1988, Council again received a copy of IR 7247 and was informed that the revised GO bond sale would be reduced by approximately $10,000,000, all from street projects. Council requested a list of street projects that are being recommended for inclusion in the bond sale as well as those projects that would not be accommodated in this sale. Specific street project information, as requested by Council, is contained in the first three of the four attachments to this IR. The fourth attachment projects debt service and tax rates to support outstanding debt. only the 1986-88 CIP is reflected in the three attachments pertaining to street projects. One street project, not listed in the attachment, is from the 1982-84 CIP. That project is the Meacham Blvd Overpass for $250,000 (Engineering Only). The four attachments are; Attachment A; (Street) PROJECTS TO BE FUNDED FROM 1988 BOND SALE Attachment B; (Street) PROJECTS TO BE FUNDED FROM FUTURE BOND SALES Attachment C; (Street) PROJECTS NOT UNDER CONTRACT FOR WHICH BONDS HAVE BEEN SOLD Attachment D; City of Fort Worth Annual Debt Service Requirements and Debt Tax Rate A comparison of propositions for the initial and revised bond sales are listed in Table 1, below: Table I Recommended and Revised General Obligation Bond Sale, by Proposition Initial Revised Proposition Recommendation Recommendation Difference Streets $ 33,473,500 $ 23,473,500 $ 10,000,000 Park and Recreation $ 3,771.500 $ 3,771,500 Public Safety $ 610,000 610,000 Op") TOTAL $ 37,855,000 $ 27,8555,000 $ 10,000,000 -ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS 4NFORMAL REPORT TO CITY COUNCIL MEMBERS No. 7252 p.2 �Fnrtwfa January 26, 1700 X44 EoRTa To the Mayor and Members of the City Council Y A. H Z; Y V F ;TE%A Subject: fer3 Listed below are project categories, within each proposition, to support the bond sales. General Obligation Bond Program Improvements Streets and Street Related Improvements: Construction/Reconstruction $ 9,378,522 Undesignated New Development $ 9,010,000 Undesignated Drainage, Sidewalks, Park Roads and Engineering $ 3,394,978 Undesignated Light and Signal $ 850,000 Three Specified Drainage Systems $ 590,000 Meacham Blvd Overpass (1982-84 CIF) $ 250,000 Total Street Projects $23,473,500 Park and Recreation Improvements New Inner-City Parks $ 200,000 Athletic Fields $ 362,000 General Park Development $ 213,000 Neighborhood Parks $ 921,000 Recreation Centers $ 1,600,000 Swimming Pool $ 475,000 Total Park and Recreation Projects $ 3,771,500 Public Safety Improvements Fire Station $ 610,000 Total Public Safety Improvements $ 610,000 Total General Obligation Bond Program Improvements $27,855,000 Revenue Bond Program Sales Water System Improvements $12,975,000 Sewer System Improvements $ 5,900,000 Total Revenue Bond Program Improvements $18,875,000 If additional information is desired, it will be furnished upon request. ouglas H man City Manager Attachments ISSUED BY THE CITY MANAGER FORT WORTH. TFYac . . Attachment »An _ 1986-88 ClP PROGRAM 1-20-88 ' PROJECT COUNCIL M. NUMBER STREET L%MlTS DISTRICT FUNDlN8 TOTAL PROJECTS 0 BE BIM FROM 1988 BOND SALE � 040150 Z7th Street Long to Eohrihmo 2 \25,0x` W142 Belmont Ave 19th to South 1550 2 115,733 Hutchinson Ave. Dewey to north RR 2 158'880 Lemimm/Papmrt 2 109,922 Aberdeen Dr. Penrose to Widgeon 3 171,080 Chapel Ave. Ream to Marnuita 3 171,000 Pensacola Ave, Hwy. 377 to Benbrowk 3 53,000 040132 Meadombrook Dr. Jenson toWatson 4 176,000 040132 Neaduwhronk Dn, L000 820 to Maryel 4 815,000 040132 Neadowbrmok Dr. Emily to Jenson 4 238,000 040132 Weiler Blvd. Noadowbromk to Norma 4 100,000 040128 Anderson St. Farrell to Staluuo 5 \32,O08 Carey Dd. E. Berry to M.L.K. Fwy S 913,000 E. Berry St. Vaughn to Crouch 5 256,000 04060 Lizzie0avis-Calumet Katy to Liberty 5 34,167 Rickenbacker Stalom to Farrel] 5 97,00 Rbchmnbackm~ Lucas to Cravens 5 71,700 040125 Wml Drive 820 to Ramey 5 2559,700 Wesleyan Dr. Rosedale to Ave J 5 96,567 Welch Ave. Grambury to A\tamesa 6 1,110,000 040144 Belle Place Byers to Dexter 7 84,000 040140 Byers Ave. Naroaret to Belle 7 2101000 Ferwn St. Vickery to Fletcher 7 273,267 040123 Lancaster Ave. Montgomery tn University 7 680,0N 040136 Dransford St. Rosedale to Terrell 8 84,733 - 040146 Cannon Ave. Virpixia to Exeter 8 1E7,000 De&osta Rd. LamnwmW to 500 ft south 8 66~000 040136 Illinois Ave Stella to Leuda 8 238,000 040159 Judkims St. 1st to Ennis 8 110,400 Lawnwmod St. Brandies to DeQxsta 8 60,WO 04034 Myrtle St. Kuroki to 800 feet east 8 56,867 040156 New York Ave Ripy to Cole 8 50,833 Ripy St. Alice to Cole R ' 156,320 040120 Seminary Dr. S.E. Fair Perk to Berke O 140.000 04012D Seminary Dr. Evans to S.E. Fair Park 8 548`000 040145 Terrell Ave. Exeter to west RR 8 103,433 840149 Dmwick Granbury to Mission 9 201,000 Biddison St. Hemphill to I-35W 9 256,000 040143 Myrtle St. May to Lipscomb 9 124,000 Lee Avenue Detention Pond 2 40.000 Eisenhower-Rosedale System 5 250,000 Marine Creek Park Detention Pond 2 300,008 823202 Mannolia 5th to 8th 9 6OO 000 Undesionated New Deveoomen± Projects Cu 9,010,000 Undesionated drainace, sidewalk, park road, CW and engineering 3,399,978 Undesignated Light & Signal Projects CW M,000 TOTAL, PROJECTS TO BE FUNDED FROM 1988 00 SALE 0001 - Attachment ^Tx ' 1986--88 CIP PROGRA 1-2&-88 PROJECT COUNCIL no NUMBER STREET LIMITS DISTRICT FUNDING TOTAL PROJECTS 7DBEFUNDED FROM FUTURE BOND SALES v Chestnut Avp- 21st to 2EY4 2 45,240 Ellis Ave. NW 2Dth to NW 23rd £ 500,O00 . Gould Ave. 30th to K-*M 2 110,667 Hale Ave. Moore to Iriun 2 105,0O0 lrinn St. Grover to Hutchinson 2 150,000 Lee Ave. Lorm to N.W. 28th 2 238,667 Malone St. lrion to Ohio 2 100,0(10 Nawve Ave. lrinn to 800 feet south 2 100,000 N. Houston St. Central to 15th 2 82,133 N. Main St. 21st to 25th 2 413,000 N. Nichols St. Long to 38th 2 1861733 Refwgio Ave. Long to 30th 2 176°800 Ross 0ve Long to 24th 2 85,00V Terminal Rd. Weber t Deen 2 667,000 20th St. True to Lydon 2 77°000 23rd St. Rud' Island to Robinson 2 48,333 30th St. Kearney to Long 2 51,933 32nd St. Refugiu to N. Main 2 135,067 34th St. Ross to N. Main 2 1E0,000 8ndesionated 2 6W,814 8ordmm Dr. Willis to Vickery 3 280,000 Calmmnt Ave. Las Vegas to La Palma 3 355,000 Elizabeth bn. Reagan to Joyce 3 265,000 Mary's [reek Rd. Vickery to Lyndon 3 263,000 _ Phoenix 0r. U.S. 80 to Doreen 3 450,00 Trail Lake Dr. Wom]way to Wedgmmrit 3 390,000 Undesigmated 3 347,000 Bird St" Sylvania to Piverside 4 162,000 040148 Ellis Rd. Handley to Huse 4 400,000 Ave. G Wallace to Arch 5 188,000 Ave. J Beach to Vaughn 5 229,267 Eastland St. Carey to Miller 5 1,l3J,O0V ��w� �� E. B�� to Eastland 5 ' 302,000 Effie St. Willie to Elgin 5 54,500 Fitzhugh Ave Stalcun to Cass 5 42,000 Forbes St. Miller to Donalee 5 177,000 Hardeman St. Edpewood to M.L.K. Fwy 5 551,00(1 Hughes Gt. Rosedale to Ave. J. 5 110,967 Huames 6t. Ramey to Bertha 5 101,533 Martin 0t. Miller to Tahoe 5 315,0N8 Stalcuo Rd. Rosedale to Ramey 5 240 O0O Vera Ave. Calumet to Dunbar 5 63,033 040115 Village Creek 0d. Richardson to Wi]barner 5 800 000 Undesignated 5 315,351 Crockett Qr. Stone to Brownfield 6 495,000 Old Hemohil} Ad. Hiphland to Stratton G 132,000 Sheridan Rd. Chateau to Sycamore Sct 6 128,000 Sheridan Rd. N. Parkway to dead end 6 66,O% Stone Rd. Crockett to Oak Grove S Z75,00 op1h, Welere Ct. N. Old Hemohill to dead end 6 40,000 Nvdesignated 6 82'00 D]ackmure Ave. Neville to Prevost 7 1755,000 BonnelI Ave. Merrick to Guilford 7 450,000 800rine Et. Vickery to Blackmore 7 193,333 . ' ~ Bmrine St. Goodman to Curzon 7 28,533 ' Bryce Ave Western to Tremont 7 168,000 Fanon St. Wellesley to Lovell 7 140,000 040839 Pershim Ave. Halloran to Guilford T 20-,,000 Summit Ave Pennsylvania to Vickery 7 300,00V � Undesionated 7 85,333 Ave. Q Riverside to AM Crescen 8 46,000 Baltimore 1200 A 1300 Blocks 8 128,500 8mnrline Ave. lyt to Lawnwmnd 8 118\400 Bessie St. Kentucky to Vickery 8 224,566 Brandies St. Law"Ood to 1st 8 198,000 Chenaolt 8t. Riverside to 0am,lime O 106,M Exeter St. Vickery to Terrell 8 138,O0O Fairway Bc Hiph Point to dead end 8 105,O00 Galvez Ave. Sylvania to Judkins O 99,000 Illinois Ave. Rosedale to Pulaski B 70,000 JudAins St. Ist to Airmnrt Freeway 8 51,520 Lammwumd Ave Judkins to Paradise 8 51,533 Loso St. Evans to New York 8 43,367 Loney St. Terrell to Vickery 8 156v000 Luxtmm Gt. Vickery to Hattie 8 56,867 Martin Ave. Trentmun to Miller B 193,000 Martin Ave. Wichita to Shacf1eford 8 472,000 may St. Kellis to Felix 8 289,000 Mississippi Ave. Baltimore to Glen Barden 8 5B4,000 Missouri Ave MoQnnlia to Myrtle 0 68,133 Morphy St. New York to Hillside 8 90,000 S. Retta St. Fisher to Ennis 8 27,167 Terrell Ave. Missouri to I-35W 8 33,333 Tnoost St. Terrell to Rosedale 8 93,400 1st S&. Riverside to Sylvania 8 212,8O0 0ndesignated 8 911,110 Cantey St~ Hemphill to east RR 9 158,000 Hawthorne Ave. 5th to Hemphill 9 105'200 Jennings Ave Jessamine to Shan 9 761,000 Lowden St. Hemphill to east RR 9 210'000 Maddox Ave. Collepe to Hemphill 9 76,767 Main St. 8iddiaun to Bwwick 9 44,833 pain St. Dickson to Rioy 9 132^168 may St. Berry to Mulkey 9 ' 471,000 Mulkey St. Hemuhill to east R8 9 99,000 Pace Ave Hemphill to east KK 9 112,000 0ipy 8±. Alice to 1-35 9 117,000 S. Jones St. Biddieon to Bolt 9 257,833 W. Bolt St. Hemphill to 6th 9 354,CO W. Bowie St. Hemphill to east RR 9 250,(K* W. Capps St. Hemphill to St. Louis 9 158,000 040147 Washinoton Ave. Richmond to Jessamine 9 133,333 Undesignated 9 866,9D3 Undesignated funds for assessment uminp` lighto and signals, omgineering, develuoment CW 11,247,125 TOTAL, PRDJECTS TO BE FUNDED FROM FUTURE SALES 34,90,00 �" r Attachment "C" 1986-88 CIP PROGRAM 1-20-88 PROJECT COUNCIL BOND NUMBER STREET LIMITS DISTRICT FUNDING TOTAL PROJECTS NOT NO CONTRACT FOR WHICH BONDS HAVE BEEN SOLD 040135 Gould Ave. 21st to 25th 2 194,13333 040154 Lincoln Ave. Long to 30th 2 176,800 040155 Loraine St. Schadt to Deen 2 175,467 040135 Market Ave. 24th to 25th 2 45,240 040157 N. Crumo St. 29th to Long 2 187,000 040153 ti. Harding St. 29th to 35th 2 221,433 040135 Pearl Ave. 21st to 25th 2 194,133 040129 Refugio Ave. 25th to dead end 2 136,000 040135 21 fit St. Clinton to N. Nain 2 85,867 040139 Kenwick Ave. Edgehill to Ridglea 3 126,000 040139 Locke Ave. Edgehill to Fairfield 3 184,000 040139 Lyndon Dr. Wycliff to Mary's Creek 3 184,000 040139 Royal Dr. Mary's Creek to Benbrook 3 341,000 040151 Slocum Ave. Joyce to bonnie 3 201,000 040124 Andrew Ave. Willie to Elgin 5 56,067 040158 Ayers St. Rosedale to Crenshaw 5 291,533 040137 Burton Ave. Farrell to Stalcup 5 171,000 040131 ChaDman Dr.-Amanda Liberty to Elgin 5 126,067 040137 Farrell Ln. Cottey to Fitzhugh 5 132,000 040137 Lorin Ave. Miller to Hughes 5 200,000 040164 Rickenbacker Pl. Lucas to Carverly 5 181,000 040134 Truman Dr. Stalcup to Flewmings 5 205,433 040137 Virgil Dr. Wiman to Anglin 5 171,000 040137 Virgil Dr. Lois to Village Creek 5 88,000 040138 Heirloom Dr. Thomoson to Victorian 6 33,000 040134 Parkway Dr. Old Hemohill to dead end 6 92,000 040138 Sandaoe Ave. Boyce to Covert 6 394,000 040138 Walraven Cir. Wedgmont to Welch 6 171,000 040138 Yates Ave. Lubbock to Sandage 6 92,000 040141 Birchman Ave. Owasso to Clover 7 210,000 040141 Bryce Ave. Sutter to Clover 7 145,000 040119 Camp Bowie Brick Repair Hillcrest to Western 7 1,125,000 040141 Collinwood Ave. Clover to Owasso 7 210,000 040141 Linden Ave. Sutter to Clover 7 145,000 Allen @ Evans Intersection Imp. 8 104,000 040136 Annie St. Kentucky to east RR 8 177,767 040130 Oleander St. Evans to Mansfield 8 158,867 040126 Paradise St. Chenault to south RR 8 1171767 040136 Verbena St. Branford to Fabons 8 62,000 040152 Carlock St. 5th to Henderson 9 95,5..'0 040133 College Ave. Jefferson to Jessamine 9 218,443 040133 Grainger St. Richmond to Hawthorne 9 66,767 040133 Jennings Ave. Allen to Hawthorne 9 135,800 040140 Jessamine St. 6th to 8th 9 145.000 040133 Lilac St. 5th to College 9 99,000 023188 Guilford Road 3 2,000.000 ` 037127 Como Lake Dam Repairs 7 2,150,000 023205 Bryant Irvin Road 3 1,350,000 023201 Crowley Road 6 500,000 026005 Randol Mill Road Bridge 4 300,000 028846 Crestwood Drainage learovnients 7 250,000 028842 Marine Creek Drainaae @ 22M St. 2 2W.000 023200 East 1st/East 4th 2.000'000 028844 lr*xwd Drive Channel loarovements 3 1.owl 00 028841 Forty Oaks Detention Ponds 4 1,200,000 Undesionated sidewalk, drainage, park road, Urban System, assessuent paving, engineering 3,300,000 TOTAL, PROTECTS FOR UH104 BONDS HAVE BEEN SOLD 22,322,104