HomeMy WebLinkAboutAgenda Report - July 8, 1988JULY I9K, 7:00 A.M.
ALTERNATIVE FUNDING
PLANS PRESENTED FOR
THE EXPANSION OF
WHIYE SLOUGH WATER
TREATMENT PLANT
The following funding
a1 ternativcs for the
expansion o-.`
the White Slough Water Treatment Plant,
were presented by
cc -51(f)
City Manager Peterson
for City Council
review. A lengthy
CC -190
discussion followed regarding
the subject
alternatives
with ouestions being directed to staff.
On motion of Council
Member Hinchman,
Olson second, the
City Council approved
Seidler -Fitzgerald
City of Lodi 1988
Wastewater Treatment
Plant Expansion
Project Financing
Alternative "C", as
shown above. The
motion carried by
unanimous vote of all
Council Members present.
d
Seidler -Fitzgerald
Public Finarice k L)i,t ion orSzitHer,1mr?ec SecuriUcs Inc. • Meriber: Xcw lurk 5Lt-vk Exchangz. Inc.
CITY OF LODI
1988 WASTEWATER TREATMENT PLANT EXPANSION PROJECT
FINANCING ALTERNATIVES
JUNE 15, 1988
Project Costs
City Contribution to Project
Not Project to be Financed
Date of Financing
Land Acquisition
Construction Period
start
End
Type of Financing
Rating
Average Interest Rate
Life of Issue
Principal Amount
Use of Funds from Issue:
Construction and Land Acquisition
Less: City Contribution
. Interest Earned during Const.
Net Construction from Issue
Debt Service Reserve r=d
Funded Interest
Cost of Issuance
Principal Amount
Annual Cash Flow (Beg. FY 88/89)
A>erage Net Debt Service
Less: Fund. Earnings 4 9.2%
S2.5MH Fund
1.5MM Fund
0.5MM Fund
Net Cost to Sever Enterprise
J&t 0 6 ,
city MaRaBers Off'
�P
Financing Alternatives
A
B
C
$10,931,000
$10,931,030
$10,931,000
<-0->
<1,000.000>
<2.000.000>
10,9 31,000
9,931,000
8,931,000
7/27/88
7/27/88
7127188
2/1/89
2/1/89
2/1/89
20 mos.
20 Taos.
20 mos.
5/1/89
5/1/89
5/1/89
1/1/91
1/1/91
1/1/91
Cert. of Part.
Cert. of Part.
Cert. of Part.
Unrated
Unrated
Unrated
8.25%
8.25%
8.25%
30 yrs.
30 yrs.
30 yrs.
$11,495,000
610,345,000
$ 9,200,000
10,9314000
10,931,000
10,931,000
<-o->
<1,.000,000>
<2,000,000>
<1,149.000>
:1.135.000>
<1 ,122.000>
9,782,000.
8,7 96,000
7,809,000
1,036,000•
932,000
828,000
-0-
-0-
-0-
677.000
617,000
563,000
311,495,QQ0
$10.345,000
L2.200---=
S 963,000
$ 867,000
5 770,000
<230,000>
<138,000>
<46.000>
S 73.000 S 729,000 4 724,000
Seidler -Fitzgerald Jut 0 7 '88
Pul;.tiC 1'1Slc`iI10E'. A Lkvi�}p*: _lrzc?ec ;:.cv::t:es ine. • �Iem't�tr. \cw� Si:rit �tn::s?:�cttPttge. Iitc.
City Manager's ptf►ce
i
CITY OF LODI
1988 WASTEWATER TREATZMENT PLANT 'EXP?NSION PROJECT
FINANCING ALTERNATIVE
JULY 7, 1988
Financing Alternative
$1Or9131.,000
Project Costs
city Contribution to Project
<3,000,000>
Net Project to be Financed
7,931,000
Date of Financing
7/27/80
Land Acquisition
2/1/89
Construction Period
20 mos.
Start
5/1/89
End
1/1/91
Type of Financing
Cert. of Part.
Rating
Unrated
Average Interest Rate
8.25%
Life of Issue
30 yrs.
Principal Amount
$ 8,055,000
Use of Funds from Issue:
Construction and Land Acquisition
10,931,000
Less: City Contribution
<3,000,000>
Interest Earned during Const.
<1,3 9,000>
Net Construction from Issue
G,822,000
Debt Service Reserve Fund
726,000,
Funded Interest
`0 -
Cost of Issuance
§07,000
Principal Amount
S 0,055,000
Annual Cash Flow (Beg. FY 88/89)
Average Net Debt Service $ 676,000
515 Swcl► Figuecna Street • Los AXgeles. Ct ornia 90072-3396 • ( 813) 62'1-183a