03-27-2007 (City Council) Agenda Packet _V( Wylie City Council
CITY:F WYLIE NOTICE OF MEETING
Regular Meeting Agenda
Tuesday, March 27, 2007 — 6:00 pm
Wylie Municipal Complex—Council Chambers
2000 Highway 78 North
John Mondy Mayor
Carter Porter Mayor Pro Tern
Earl Newsom Place 1
M. G. "Red" Byboth Place 2
Eric Hogue Place 3
Merrill Young Place 4
Rick White Place 5
Mindy Manson City Manager
Richard Abernathy City Attorney
Carole Ehrlich City Secretary
In accordance with Section 551.042 of the Texas Government Code, this agenda has been posted at the Wylie
Municipal Complex, distributed to the appropriate news media, and posted on the City website:
www.wvlietexas.gov within the required time frame. As a courtesy, the entire Agenda Packet has also been posted
on the City of Wylie website: www.wylietexas.gov.
The Mayor and City Council request that all cell phones and pagers be turned off or set to vibrate. Members of the
audience are requested to step outside the Council Chambers to respond to a page or to conduct a phone
conversation.
The Wylie Municipal Complex is wheelchair accessible. Sign interpretation or other special assistance for disabled
attendees must be requested 48 hours in advance by contacting the City Secretary's Office at 972.442.8100 or TD
972.442.8170.
CALL TO ORDER
Announce the presence of a Quorum.
INVOCATION & PLEDGE OF ALLEGIANCE
PRESENTATIONS
• Student Government Day 2007
• Proclamation In Memoriam of O. W. Hampton.
CITIZENS COMMENTS ON NON-AGENDA ITEMS
Residents may address Council regarding an item that is not listed on the Agenda. Residents must provide their
name and address. Council requests that comments be limited to three (3) minutes. In addition, Council is not
allowed to converse, deliberate or take action on any matter presented during citizen participation.
March 27,2007 Wylie City Council Regular Meeting Agenda Page 2 of 3
CONSENT AGENDA
All matters listed under the Consent Agenda are considered to be routine by the City Council and will be enacted by
one motion. There will not be separate discussion of these items. If discussion is desired, that item will be removed
from the Consent Agenda and will be considered separately.
A. Consider, and act upon, approval of Minutes from the March 13, 2007 Regular City
Council Meeting. (C. Ehrlich, City Secretary)
B. Consider, and place on file, the Monthly Revenue and Expense Report for the Wylie
Economic Development Corporation as of February 28, 2007. (S. Satterwhite,
Executive Director, WEDC)
REGULAR AGENDA
General Business
Tabled from March 13, 2007
1. (MOTION TO REMOVE FROM TABLE) Consider, and act upon, a request to
eliminate the distance requirement between a Beer and Wine Package Sales
establishment and a public school. The property being located at 405 South
Highway 78. (R. 011ie, Planning Director)
Executive Summary
The applicant is requesting a variance to the distance requirement in accordance with the Alcoholic
Beverage Code Title 4 Regulatory And Penal Provisions, Chapter 109. Miscellaneous Regulatory
Provisions, Section 109.33, Subsection (e). The requested variance is to grant a distance of zero feet as
measured in a direct line from property line to property line. The property is located at 405 South Highway
78 and abuts the Hartman Elementary School (a public school). Per the Alcoholic Beverage Code Section
109.33 of Title 4, Subchapter C Local Regulation Of Alcoholic Beverages, the governing body of a
municipality has the authority to prohibit the sale of alcoholic beverages by a dealer whose place of
business is within 300 feet of a church,public or private school,or public hospital.
2. Consider, and act upon, acceptance of the Comprehensive Annual Financial Report
(CAFR). (L. Williamson, Finance Director)
Executive Summary
The City Charter in Article VII,Municipal Finance,Section 13: Independent Audit,requires that at the end
of the fiscal year an independent audit be made of all accounts of the City by a certified public accountant.
In compliance with the City Charter, our outside auditor, Rutledge Crain& Company, PC, has performed
an audit as of September 30,2006.
3. Consider, and act upon, all matters incident and related to the issuance and sale of
"City of Wylie, Texas, Combination Tax and Revenue Certificates of Obligation,
Series 2007", including the adoption of Ordinance No. 2007-09 authorizing the
issuance of such certificates of obligation. (L. Williamson, Finance Director)
Executive Summary
The City approved a 5 year Capital Improvement Plan (CIP) for water and sewer projects and identified
certain projects as being funded with Certificates of Obligations. The debt service for these bonds was
included in the City's Water Rate Study. This ordinance authorizes the sale of these bonds to the
underwriters,with closing scheduled for early May 2007.
March 27,2007 Wylie City Council Regular Meeting Agenda Page 3 of 3
4. Consider, and act upon, all matters incident and related to the issuance and sale of
"City of Wylie, Texas, General Obligation Refunding Bonds, series 2007",
including the adoption of Ordinance No. 2007-10 authorizing the issuance of such
bonds and providing for the redemption of the obligations being refunded. (L.
Williamson, Finance Director)
Executive Summary
First Southwest Company submitted a proposal to refund a portion of the City's General Obligations
Bonds, series 1997, series 1999, and series 2000.The purpose of the refunding is to lower the debt service
payments made by the City. This is accomplished by refinancing(refunding)the old debt with new debt at
a lower interest rate.
5. Consider, and act upon, acceptance of the resignation of Gary Bartow and appoint a
new Board Member to the Wylie Economic Development Corporation to fill the
unexpired term of July 2006 to June 30, 2009. (C. Ehrlich, City Secretary)
Executive Summary
As per section 4.01 Board of Directors of the First Amended Bylaws of the Wylie Economic Development
Corporation, the business and affairs of the Corporation and all corporate powers shall be exercised by or
under the authority of the Board of Directors, appointed by the governing body of the City of Wylie.
Section 4.02 Number and Qualifications requires that each Director shall meet at least one (1) of the
following: (a)serve,or have served,as Chief Executive Officer or a company;or(b)serve,or have served,
in a position of executive management of a company; or (c) serve, or have served, in a professional
capacity. In addition to the above qualifications: (1) each Director must have lived in the City limits or
operated a business in the City limits for a minimum of one(1)year;and (2)each Director must live in the
City limits during the tenure in office.
READING OF ORDINANCES
Title and caption approved by Council as required by Wylie City Charter,Article III, Section 13-D.
WORK SESSION
• Presentation update and discussion related to construction of the new Library,
Recreation Center and City Hall. (ARCHITEXAS, Architect/Holzman Moss
Architecture/Thomas. S. Byrne, Ltd. Construction Manager)
ADJOURNMENT
CERTIFICATION
I certify that this Notice of Meeting was posted�gti,�l1E iti'dgY of March, 2007 at 5:00 p.m. as required by law in
accordance with Section 551.042 of the Kek �nitls 'C,ode and that the appropriate news media was
contacted. As a courtesy, this agenda is a1�D� ctpd on the C" cdf Wylie website: www.wylietexas.gov.
toIeEhh,citecrry ''.,___. -Thd.61-‘ • • — -. 1 .: : c'-v0 ---) \.-D-d (')--)
,•••.. ..••••7y %' j Date Notice Removed
'''"",,4/E, TEXP'S``��
Wylie City Council
CITY OF WYLIE
Minutes
Wylie City Council
Tuesday, March 13, 2007 - 6:00 pm
Wylie Municipal Complex - Council Chambers
2000 Highway 78 North
CALL TO ORDER
Announce the presence of a Quorum.
Mayor Mondy called the meeting to order at 6:00 p.m. Council Members present were: Mayor
Pro Tern Carter Porter, Councilman Red Byboth, Councilman Merrill Young, and Councilman
Rick White. Council members Earl Newsom and Eric Hogue were absent.
Staff present were: City Manager, Mindy Manson; Assistant City Manager, Jeff Butters; Finance
Director, Larry Williamson; City Engineer, Chris Hoisted; Fire Chief, Randy Corbin; Planning
Director, Renae' 011ie; Public Services Director; Mike Sferra; WEDC Executive Director, Sam
Satterwhite; Public Library Director, Rachel Orozco; Public Information Officer, Mark Witter; City
Secretary, Carole Ehrlich, and various support staff.
INVOCATION & PLEDGE OF ALLEGIANCE
Reverend Harold Hembree, pastor of the First Christian Church of Wylie gave the Invocation
and Councilman Byboth led the Pledge of Allegiance.
PRESENTATION
• Presentation of Collin County GIS Services (B. Blythe, Captain, Fire Department
and T. Nolan, Collin County GIS)
A presentation of Collin County GIS services was conducted by T. Nolan of Collin County GIS
and Captain Brandon Blythe of the Wylie Fire Department. A brief overview of the system was
demonstrated showing the services provided to Wylie such as mapping overlays, hydrant
locations within the City, siren coverage areas, block numbers and call boxes. Mr. Nolan
explained that this system was implemented in 2005 by approval of the City Council and has
been updated and enhanced each year since the initial implementation. It is utilized by the Wylie
Police Department and the Wylie Fire Department. He explained that in the future the hope was
to bring information that would be utilized by all departments within the City as well as
interlocally.
Minutes—March 13, 2007
Wylie City Council
Page 1
CITIZENS COMMENTS ON NON-AGENDA ITEMS
Residents may address Council regarding an item that is not listed on the Agenda. Residents must provide their
name and address. Council requests that comments be limited to three (3) minutes. In addition, Council is not
allowed to converse, deliberate or take action on any matter presented during citizen participation.
There was no one present to address Council during Citizens Comments.
CONSENT AGENDA
All matters listed under the Consent Agenda are considered to be routine by the City Council and will be enacted by
one motion. There will not be separate discussion of these items. If discussion is desired, that item will be removed
from the Consent Agenda and will be considered separately.
A. Consider, and act upon, approval of Minutes from the February 27, 2007 Regular
City Council Meeting. (C. Ehrlich, City Secretary)
B. Consider, and act upon, approval of a Replat creating two (2) lots on 24.96 acres for
future commercial/industrial development. The property is generally located
southeast of SH 78 and Martinez Lane. (R. 011ie, Planning Director)
C. Consider, and act upon, Ordinance 2007-07 establishing Speed Zones for Wooded
Creek Avenue from Ryan Lane to Riverway Lane. (C. Holsted, City Engineer)
D. Consider, and place on file, the Monthly Revenue and Expenditure Reports for the
period of January and February 2007. (L. Williamson, Finance Director)
Council Action
A motion was made by Councilman Young, seconded by Mayor Pro Tern Porter to approve the
Consent Agenda as presented. A vote was taken and passed 5-0 with Council members Hogue
and Newsom absent.
REGULAR AGENDA
Public Hearing
1. Hold a Public Hearing and consider, and act upon, Ordinance No. 2007-08 adopting
the Standards of Care for Youth Programs. (T. Hindman, Recreation Supervisor)
Staff Comments
Recreation Supervisor Hindman addressed Council stating that since the inception of the summer youth
programs in 2000, the Standards of Care have been reviewed yearly and adopted as an ordinance in
order to comply with the Texas Senate Bill 212, Human Resource Code, Section 42.041 (b)(14). Staff
has made no significant changes to the current version of the ordinance. The ordinance and Standards
of Care provides the necessary guidelines for the regulation of the summer youth program, the Wylie
Wave, as legislated by Texas Senate Bill 212, Human Resource Code, Section 42.041 (b)(14).
Minutes—March 13, 2007
Wylie City Council
Page 2
Public Hearing
Mayor Month/opened the Public Hearing at 6:28 p.m. for Ordinance No. 2007-08.
No one was present to address Council during the Public Hearing.
Mayor Mondv closed the Public Hearing at 6:28 p.m.
Council Action
A motion was made by Councilman Byboth, seconded by Councilman Young to approve
Ordinance No. 2007-08 adopting the Standards of Care for Youth Programs for 2007. A vote
was taken and passed 5-0 with Council members Hogue and Newsom absent.
General Business
2. Consider, and act upon, a request to eliminate the distance requirement between a
Beer and Wine Package Sales establishment and a public school. The property
being located at 405 South Highway 78. (R. 011ie, Planning Director)
Staff Comments
Planning Director 011ie addressed Council stating that the applicant is requesting a variance to the
distance requirement in accordance with the Alcoholic Beverage Code Title 4 Regulatory and Penal
Provisions, Chapter 109. Miscellaneous Regulatory Provisions, Section 109.33, Subsection (e). The
requested variance is to grant a distance of zero feet as measured in a direct line from property line to
property line. The property is located at 405 South Highway 78 and abuts the Hartman Elementary
School (a public school). Per the Alcoholic Beverage Code Section 109.33 of Title 4, Subchapter C Local
Regulation of Alcoholic Beverages, the governing body of a municipality has the authority to prohibit the
sale of alcoholic beverages by a dealer whose place of business is within 300 feet of a church, public or
private school, or public hospital.
Applicant Request
Mr. Farhan Rajani, owner of the property located at 405 S. Highway 78, Wylie Texas requested
that Item (#2) be tabled to the next City Council Meeting due to his attorney not being present .
Council Action
A motion was made by Mayor Pro Tern Porter, seconded by Councilman Byboth to table item
#2; consideration of a request to eliminate the distance requirement between a Beer and Wine
Package Sales establishment and a public school, (405 South Highway 78) to the March 27,
2007 Regular City Council meeting. A vote was taken and passed 5-0 with Council members
Hogue and Newsom absent.
3. Consider, and act upon, award of a contract to Lacy Construction, in the amount of
$882,758.60, for the construction of Alanis Drive from Twin Lakes Drive to FM
544. (C. Holsted, City Engineer)
Minutes—March 13, 2007
Wylie City Council
Page 3
Staff Comments
City Engineer Hoisted addressed Council stating that the 2005 Bond Program included $2,600,000 for the
extension of Alanis Drive from Twin Lakes Drive to FM 544. The extension provides another east-west
thoroughfare in the southern portion of the City. The project includes approximately 16,000 square yards
of 8-inch reinforced concrete pavement and related storm sewer improvements. Mr. Hoisted explained
that this item should be the approval to issue a contract between Lacy Construction and the City of Wylie
for the bid price of$882,758.60.
Council Action
A motion was made by Councilman Byboth, seconded by Mayor Pro Tern Porter to approve the
issuance of a contract to Lacy Construction, in the amount of $882,758.60 for the construction
of Alanis Drive from Twin Lakes Drive to FM 544. A vote was taken and passed 5-0 with
Council members Hogue and Newsom absent.
READING OF ORDINANCES
Title and caption approved by Council as required by Wylie City Charter,Article III, Section 13-D.
City Secretary Carole Ehrlich read the caption to Ordinances No.'s 2007-07 and 2007-08 into
the official record.
WORK SESSION
• Discussion of provision of sewer services outside of Wylie city limits.
City Manager Manson explained to Council that a restaurant owner located near S.H. 1378 and
located within the City of St. Paul had requested a sewer tape for an existing restaurant. City
Manager Manson reported that she had been in contact with the City of St. Paul regarding de-
annexing the property and the City of St. Paul was bound by the Type A Municipality local
government code which required a certain size lot before de-annexation was permitted. Ms.
Manson explained that it had long been the policy of Council that only property located within
the incorporated boundaries of Wylie would be provided City services. She explained that this
particular situation was unusual as the restaurant owner could not operate the business without
a city sewer system. She explained that the septic system currently being used by the property
owner, no longer had the capacity to service the business. Direction from Council was to
continue with the procedures in place regarding city services; to do otherwise would set
precedence.
• Discussion of growth and staff projections and associated funding costs.
Finance Director Larry Williamson gave a presentation on the City's long range financial model.
Mr. Williamson went over Historical revenues and expenditures and how they predict future
revenues and expenditures in the population driven model. Mayor Mondy commented on the
amount of ad valorum taxes that the city receives from the average household in Wylie vs. the
amount of money spent by the city on city services. Numerous revenue enhancements were
discussed including expanding the Alarm Monitoring Program and expanding our commercial
tax base. Mr. Williamson finished the presentation with a review of tax rates generated by the
model.
Minutes—March 13, 2007
Wylie City Council
Page 4
ADJOURNMENT
With no further business before Council, Councilman Byboth made a motion to adjourn at 8:50
p.m.. Consensus of Council was to adjourn.
John Mondy, Mayor
ATTEST:
Carole Ehrlich, City Secretary
Minutes—March 13, 2007
Wylie City Council
Page 5
7; Wylie City Council
CITY OF WYLIE AGENDA REPORT
Meeting Date: 03-27-07 Item Number: B
Department: WEDC (City Secretary's Use Only)
Prepared By: Sam Satterwhite Account Code:
Date Prepared: 03-12-07 Budgeted Amount:
Exhibits: 1
Subject
Consider, and place on file, the Monthly Revenue and Expense Report for the Wylie Economic Development
Corporation as of February 28, 2007.
Recommendation
Accept, and place on file, the monthly Revenue and Expense Report for the Wylie Economic Development
Corporation as of February 28, 2007.
Discussion
The Wylie Economic Development Corporation (WEDC) Board of Directors approved the attached financials
on March 16, 2007.
Approved By
Initial Date
Department Director 3-1 -D:?
City Manager r V l 3 pal o-7
Page 1 of 1
3-13-2007 04:24 PM CITY OF WYLIE PAGE: 1
REVENUE AND EXPENSE REPORT - (UNAUDITED)
AS OF: FEBRUARY 28TH, 2007
111-WYLIE ECONOMIC DEVEL CORP
FINANCIAL SUMMARY
CURRENT CURRENT PRIOR YEAR Y-T-D Y-T-D BUDGET t OF
BUDGET PERIOD PO ADJUST. ACTUAL ENCUMBRANCE BALANCE BUDGET
REVENUE SUMMARY
TAXES 1,136,130.00 121,614.75 0.00 291,138.46 0.00 844,991.54 25.63
INTEREST INCOME 22,500.00 1,560.82 0.00 8,152,75 0.00 14,347.25 36.23
MISCELLANEOUS INCOME 63,640.00 7,732.15 0.00 33,146.75 0.00 30,693.25 51.92
TOTAL REVENUES 1,222,470.00 130,907.72 0.00 332,437.96 0.00 890,032.04 27.19
EXPENDITURE SUMMARY
DEVELOPMENT CORP-WEDC 1,777,700.00 133,025.00 0.00 507,091.60 659.34 1,269,949.06 28.56
TOTAL EXPENDITURES 1,777,700.00 133,025.00 0.00 507,091.60 659.34 1,269,949.06 28.56
REVENUE OVER/(UNDER) EXPENDITURES ( 555,230.00) ( 2,117.28) 0.00 ( 174,653.64) ( 659.341 ( 379,917.02) 31.57
3-13-2007 04:24 PM CITY OF WYLIE PAGE: 2
REVENUE AND EXPENSE REPORT - (UNAUDITED)
AS OF: FEBRUARY 28TH, 2007
111-WYLIE ECONOMIC DEVEL CORP
REVENUES
CURRENT CURRENT PRIOR YEAR Y-T-D Y-T-D BUDGET % OF
BUDGET PERIOD PO ADJUST. ACTUAL ENCUMBRANCE BALANCE BUDGET
TAXES
4000-40210 SALES TAX 1,136,130.00 121,614.75 0.00 291,138.46 0.00 844,991.54 25.63
TOTAL TAXES 1,136,130.00 121,614.75 0.00 291,138.46 0.00 844,991.54 25.63
INTEREST INCOME
4000-46050 CERTIFICATE OF DEPOSIT 0.00 0.00 0.00 0.00 0.00 0.00 0.00
4000-46110 ALLOCATED INTEREST EARNINGS 22,500.00 1,560.82 0.00 8,152.75 0.00 14,347.25 36.23
4000-46140 TEXPOOL INTEREST 0.00 0.00 0.00 0.00 0.00 0.00 0.00
4000-46143 LOGIC INTEREST 0.00 0.00 0.00 0.00 0.00 0.00 0.00
4000-46210 BANK MONEY MARKET INTEREST 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL INTEREST INCOME 22,500.00 1,560.82 0.00 8,152.75 0.00 14,347.25 36.23
MISCELLANEOUS INCOME
4000-48110 RENTAL INCOME 63,840.00 5,932.15 0.00 25,860.75 0.00 37,979.25 40.51
4000-48310 RECOVERY - PRIOR YEAR EXPEN 0.00 0.00 0.00 5,486.00 0.00 ( 5,486.00) 0.00
4000-48410 MISC INCOME 0.00 1,800.00 0.00 1,800.00 0.00 ( 1,800.00) 0.00
4000-48430 GAIN ON SALE OF PROPERTY 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL MISCELLANEOUS INCOME 63,840.00 7,732.15 0.00 33,146.75 0.00 30,693.25 51.92
Tc .EVENUES 1,222,470.00 130,907.72 0.00 332,437.96 0.00 890,032.04 27.19
3-13-2007 04:24 PM CITY OF WYLIE PAGE: 3
REVENUE AND EXPENSE REPORT - (UNAUDITED)
AS OF: FEBRUARY 28TH, 2007
111-WYLIE ECONOMIC DEVEL CORP
DEVELOPMENT CORP-WEDC
DEPARTMENTAL EXPENDITURES
CURRENT CURRENT PRIOR YEAR Y-T-D Y-T-D BUDGET % OF
BUDGET PERIOD PO ADJUST. ACTUAL ENCUMBRANCE BALANCE BUDGET
PERSONNEL SERVICES
5611-51110 SALARIES 157,050.00 11,437.06 0.00 59,958.60 0.00 97,091.40 38.18
5611-51130 OVERTIME 0.00 0.00 0.00 0.00 0.00 0.00 0.00
5611-51140 LONGEVITY PAY 570.00 0.00 0.00 580.00 0.00 ( 10.00) 101.75
5611-51145 SICK LEAVE BUYBACK 1,710.00 0.00 0.00 1,180.52 0.00 529.48 69.04
5611-51160 CERTIFICATION INCENTIVE 0.00 0.00 0.00 0.00 0.00 0.00 0.00
5611-51170 PARAMEDIC INCENTIVE 0.00 0.00 0.00 0.00 0.00 0.00 0.00
5611-51210 CAR ALLOWANCE 8,400.00 646.16 0.00 3,392.34 0.00 5,007.66 40.39
5611-51230 CLOTHING ALLOWANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00
5611-51310 TMRS 14,930.00 537.70 0.00 5,201.36 0.00 9,728.64 34.84
5611-51410 HOSPITAL & LIFE INSURANCE 14,340.00 1,379.90 0.00 6,855.93 0.00 7,484.07 47.81
5611-51420 LONG-TERM DISABILITY 880.00 41.42 0.00 214.92 0.00 665.08 24.42
5611-51440 FICA 10,400.00 724.22 0.00 2,066.95 0.00 8,333.05 19.87
5611-51450 MEDICARE 2,430.00 169.36 0.00 829.62 0.00 1,600.38 34.14
5611-51470 WORKERS COMP PREMIUM 850.00 0.00 0.00 ( 8.42) 0.00 858.42 0.99-
5611-51480 UNEMPLOYMENT COMP (TWC) 540.00 0.00 0.00 0.00 0.00 540.00 0.00
TOTAL PERSONNEL SERVICES 212,100.00 14,935.82 0.00 80,271.82 0.00 131,828.18 37.85
SUPPLIES
5611-52010 OFFICE SUPPLIES 7,000.00 92.45 0.00 1,671.64 0.00 5,328.36 23.88
5E" -2040 POSTAGE 1,720.00 27.01 0.00 247.39 0.00 1,472.61 14.38
5t 2130 TOOLS & EQUIPMENT 0.00 0.00 0.00 0.00 0.00 0.00 0.00
5611-52810 FOOD SUPPLIES 3,200.00 356.76 0.00 958.86 0.00 2,241.14 29.96
5611-52990 OTHER 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL SUPPLIES 11,920.00 476.22 0.00 2,877.89 0.00 9,042.11 24.14
MATERIALS FOR MAINTENANC
5611-54630 TOOLS & EQUIPMENT 0.00 0.00 0.00 0.00 0.00 0.00 0.00
5611-54810 COMPUTER HARD/SOFTWARE 3,000.00 209.91 0.00 1,519.91 0.00 1,480.09 50.66
5611-54990 OTHER 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL MATERIALS FOR MAINTENANC 3,000.00 209.91 0.00 1,519.91 0.00 1,480.09 50.66
CONTRACTUAL SERVICES
5611-56030 INCENTIVES 485,110.00 64,980.25 0.00 125,105.25 0.00 360,004.75 25.79
5611-56040 SPECIAL SERVICES 124,950.00 16,031.37 0.00 77,679.16 0.00 47,270.84 62.17
5611-56080 ADVERTISING 50,500.00 275.00 0.00 21,747.90 340.00 28,412.10 43.74
5611-56090 COMMUNITY DEVELOPMENT 51,500.00 766.69 0.00 20,851.77 0.00 30,648.23 40.49
5611-56110 COMMUNICATIONS 6,020.00 501.41 0.00 1,950.38 0.00 4,069.62 32.40
5611-56180 RENTAL 17,100.00 1,350.01 0.00 7,640.91 319.34 9,139.75 46.55
5611-56210 TRAVEL AND TRAINING 31,350.00 1,579.53 0.00 4,572.59 0.00 26,777.41 14.59
5611-56250 DUES & SUBSCRI?TIONS 6,380.00 1,000.00 0.00 3,220.00 0.00 3,160.00 50.47
5611-56310 INSURANCE 2,500.00 0.00 0.00 0.00 0.00 2,500.00 0.00
5611-56510 AUDIT AND LEGAL SERVICES 12,500.00 2,791.50 0.00 3,096.00 0.00 9,404.00 24.77
5611-56570 ENGINEERING - ARCHITECT SVC 67,930.00 7,237.37 0.00 37,584.95 0.00 30,365.05 55.31
5611-56610 UTILITIES - ELECTRIC 3,000.00 372.38 0.00 1,180.39 0.00 1,819.61 39.35
TOTAL CONTRACTUAL SERVICES 858,860.00 96,885.51 0.00 304,629.30 659.34 553,571.36 35.55
3-13-2007 04:24 PM CITY OF WYLIE PAGE: 4
REVENUE AND EXPENSE REPORT - (UNAUDITED)
AS OF: FEBRUARY 28TH, 2007
111-WYLIE ECONOMIC DEVEL CORP
DEVELOPMENT CORP-WEDC
DEPARTMENTAL EXPENDITURES
CURRENT CURRENT PRIOR YEAR Y-T-D Y-T-D BUDGET % OF
BUDGET PERIOD PO ADJUST. ACTUAL ENCUMBRANCE BALANCE BUDGET
DEBT SERVICE & CAP. REPL
5611-57110 DEBT SERVICE 294,250.00 20,517.54 0.00 108,675.22 0.00 185,574.78 36.93
TOTAL DEBT SERVICE & CAP. REPL 294,250.00 20,517.54 0.00 108,675.22 0.00 185,574.78 36.93
CAPITAL OUTLAY
5611-58110 LAND 205,000.00 0.00 0.00 0.00 0.00 205,000.00 0.00
5611-58120 DEVELOPMENT FEES 25,000.00 0.00 0.00 0.00 0.00 25,000.00 0.00
5611-58210 STREETS & ALLEYS 150,070.00 0.00 0.00 0.00 0.00 150,070.00 0.00
5611-58810 COMPUTER HARD/SOFTWARE 1,500.00 0.00 0.00 0.00 0.00 1,500.00 0.00
5611-58830 FURNITURE & FIXTURES 10,000.00 0.00 0.00 4,117.46 0.00 5,882.54 41.17
5611-58995 CONTRA CAPITAL OUTLAY 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL CAPITAL OUTLAY 391,570.00 0.00 0.00 4,117.46 0.00 367,452.54 1.05
OTHER FINANCING (USES)
5611-59111 TRANSFER TO GENERAL FUND 6,000.00 0.00 0.00 5,000.00 0.00 1,000.00 83.33
5611-59990 PROJECT ACCOUNTING 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL OTHER FINANCING (USES) 6,000.00 0.00 0.00 5,000.00 0.00 1,000.00 83.33
TOTAL DEVELOPMENT CORP-WEDC 1,777,700.00 133,025.00 0.00 507,091.60 659.34 1,269,949.06 28.56
TG XPENDITURES 1,777,700.00 133,025.00 0.00 507,091.60 659.34 1,269,949.06 28.56
REVENUE OVER (UNDER) EXPENDITURES ( 555,230.00) ( 2,117.28) 0.00 ( 174,653.64)( 659.34) ( 379,917.02) 31.57
*** END OF REPORT ***
FUND : 111-WYLIE ECONOMIC DEVEL CORP PERIOD TO USE: Feb-2007 THRU Feb-2007
DEPT : 611 DEVELOPMENT CORP-WEDC ACCOUNTS: 5611-52010 THRU 5611-58830
POST DATE TRAM # REFERENCE PACKET======DESCRIPTION=====_= VEND INV/JE # NOTE ----=AMOUNT==== ====BALANCE====
5611-52010 OFFICE SUPPLIES
BEGINNING BALANCE 1,579.19
2/07/07 2/07 A79537 CHK: 021079 08682 CARDSTOCK 000392 14765 0.75 1,579.94
2/07/07 2/07 A79537 CHK: 021079 08682 BOX OF FILE FOLDERS 000392 14765 12.95 1,592.89
2/07/07 2/07 A79537 CHK: 021079 08682 FILING LABELS 000392 14765 23.35 1,616.24
2/07/07 2/07 A79537 CHK: 021079 08682 COVER PAPER 000392 14765 0.90 1,617.14
2/07/07 2/07 A79537 CHIC: 021079 06682 REPLACEMENT SEAL, CORP. 000392 14765 22.50 1,639.64
2/14/07 2/14 A80237 CHK: 021182 08836 AMEX JAN07 CHARGES 000035 87002 JAN07 32.00 1,671.64
FEBRUARY ACTIVITY DB: 92.45 CR: 0.00 92.45
5611-52040 POSTAGE
BEGINNING BALANCE 220.38
2/09/07 2/09 A80026 CHK: 021157 08756 020607 REIMBURSE POSTAGE 001899 020607 REIMBURS 3.72 224.10
2/09/07 2/09 A80026 CHIC: 021157 08756 020607 REIMBURSE POSTAGE 001899 020607 REIMBURS 18.65 242.75
2/09/07 2/09 A80026 CHK: 021157 08756 020607 REIMBURSE POSTAGE 001899 020607 REIMBURS 4.64 247.39
____________= FEBRUARY ACTIVITY DB: 27.01 CR: 0.00 27.01
5611-52130 TOOLS & EQUIPMENT
BEGINNING BALANCE 0.00
5611-52160 TOOLS/EQUIP- $100-$999.99
BEGINNING BALANCE 0.00
5611-52810 FOOD SUPPLIES
BEGINNING B A LAN C E 602.10
2/01/07 2/02 A78952 CHK: 020960 08577 JANUARY 18, 2007 MTG. 001071 5331 156.50 758.60
2/01/07 2/02 A78953 CHK: 020960 08577 JANUARY 26, 2007 MTG. 001071 5339 64.00 822.60
2/09/07 2/09 A79881 CHK: 021125 08745 COFFEE SERVICE-FEB 002091 020107 FEB 20.00 842.60
2/09/07 2/09 A79882 CHK: 021125 08745 COFFEE SERVICE-MAR 002091 030107 MAR 20.00 862.60
2/09/07 2/09 A79883 CHK: 021125 08745 COFFEE SERVICE-APR 002091 040107 20.00 882.60
2/09/07 2/09 A79975 CNN: 021140 08753 LUNCH MEETING 001071 5363 33.95 916.55
2/13/07 2/14 A80115 CHK: 021175 08826 REIMBRS FOOD-BOARD MEETI 000317 011907 34.30 950.85
2/13/07 2/14 A80116 CHK: 021175 08826 REIMBURSMT CASH FOR FOO 000317 2345-30 REIMBURS 8.01 958.86
= FEBRUARY ACTIVITY DB: 356.76 CR: 0.00 356.76
FUND : 111-WYLIE ECONOMIC DEVEL CORP PERIOD TO USE: Feb-2007 THRU Feb-2007
DEPT : 611 DEVELOPMENT CORP-WEDC ACCOUNTS: 5611-52010 THRU 5611-58830
POST DATE TRAM # REFERENCE PACKET DESCRIPTION=====_= VEND INV/JE # NOTE =----AMOUNT==== ====BALANCE====
5611-52990 OTHER
BEGINNING BALANCE 0.00
5611-54630 TOOLS & EQUIPMENT
BEGINNING BALANCE 0.00
5611-54810 COMPUTER HARD/SOFTWARE
BEGINNING BALANCE 1,310.00
2/14/07 2/14 A80237 CHK: 021182 08836 AMEX JAN07 CHARGES 000035 87002 JAN07 209.91 1,519.91
____________= FEBRUARY ACTIVITY DB: 209.91 CR: 0.00 209.91
5611-54990 OTHER
BEGINNING BALANCE 0.00
5611-56030 INCENTIVES
BEGINNING BALANCE 60,125.00
2/22/07 2/22 A81098 CHK: 021358 09011 22107 #1 002202 22107 #1 24,805.00 84,930.00
2/27/07 2/27 A81559 CHK: 021452 09087 22107 #4 OF 4 000757 22107 #4 40,175.25 125,105.25
_____________ FEBRUARY ACTIVITY DB: 64,980.25 CR: 0.00 64,980.25
5611-56040 SPECIAL SERVICES
BEGINNING BALANCE 61,647.79
2/02/07 2/02 A79094 CHK: 021000 08591 706 COOPER WATER BILL 000101 126-0290-02 DEC06 12.15 61,659.94
2/09/07 2/09 A79884 CHK: 021138 08745 CLEANING SERV.-JAN 002093 020107 300.00 61,959.94
2/09/07 2/09 A79884 CHK: 021138 08745 CLEANING SERV.-FEB 002093 020107 200.00 62,159.94
2/14/07 2/14 A80288 CHK: 021198 08845 07-524 CONSULT FEE 002109 07-524 15,000.00 77,159.94
2/14/07 2/14 A80286 CHK: 021198 08845 07-524 REIMBURS EXPENSES 002109 07-524 362.07 77,522.01
2/16/07 2/16 A80558 CHK: 021264 08878 INVOICE # 104 002049 104 145.00 77,667.01
2/28/07 2/28 A81643 CHK: 021459 09100 WATER FOR 706 COOPER 000101 126-0290-02 J.4N07 12.15 77,679.16
____= FEBRUARY ACTIVITY DB: 16,031.37 CR: 0.00 16,031.37
5611-56080 ADVERTISING
BEGINNING BALANCE 21,472.90
2/13/07 2/14 A80134 CHK: 021177 08826 ADVERTISING - BASKETBALL 000391 1030 JAN31 275.00 21,747.90
____________= FEBRUARY ACTIVITY DB: 275.00 CR: 0.00 275.00
FUND : 111-WYLIE ECONOMIC DEVEL CORP PERIOD TO USE: Feb-2007 THRU Feb-2007
DEPT : 611 DEVELOPMENT CORP-WEDC ACCOUNTS: 5611-52010 THRU 5611-58830
POST DATE TRAN # REFERENCE PACKET======DESCRIPTION=====_= VEND INV/JE # NOTE --AMOUNT-- ====BALANCE====
5611-56090 COMMUNITY DEVELOPMENT
BEGINNING BALANCE 20,085.08
2/14/07 2/14 A80237 CHK: 021182 08836 AMEX JAN07 CHARGES 000035 87002 JAN07 166.69 20,251.77
2/19/07 2/20 C09823 RC?T 00274368 04265 LAND TEX INC 200.00CR 20,051.77
2/20/07 2/20 A80852 CHK: 021319 08938 4800 P 1 021207 800.00 20,851.71
____________= FEBRUARY ACTIVITY DB: 966.69 CR: 200.00CR 766.69
5611-56110 COMMUNICATIONS
BEGINNING BALANCE 1,448.97
2/01/07 2/02 A78949 CHK: 020981 08577 OFFICE PHONE SERVICE 000468 105921 10166 DE/JA 187.82 1,636.79
2/09/07 2/09 A80026 CHK: 021157 08756 020607 REIMB PHONE EQUIP 001899 020607 REIMBURS 10.81 1,647.60
2/21/07 2/21 A80950 CHK: 021336 08982 ACCOUNT # 000199891 000298 199891JAN-FEB 207.78 1,855.38
2/21/07 2/21 A80959 CHK: 021340 08982 ACCOUNT #826013047019016 002052 130470190169 FE-MA 95.00 1,950.38
____________= FEBRUARY ACTIVITY DB: 501.41 CR: 0.00 501.41
5611-56180 RENTAL
BEGINNING BALANCE 6,290.90
2/02/07 2/02 A79194 CHK: 021021 08600 PRINTER LEASE 002075 6745039402 JAN13 319.34 6,610.24
2/20/07 2/20 A80801 CHK: 021302 08934 B/W COPIES 002051 098177 JAN12-FEB12 38.99 6,649.23
2/20/07 2/20 A80801 CHK: 021302 08934 COLOR COPIES 002051 098177 JAN12-FEB12 91.68 6,740.91
2/22/07 2/22 A81097 CHK: 021357 09011 RENT MARCH 07 002050 RENT MARCH07 900.00 7,640.91
____ __= FEBRUARY ACTIVITY DB: 1,350.01 CR: 0.00 1,350.01
5611-56210 TRAVEL AND TRAINING
BEGINNING BALAN C E 2,993.06
2/14/07 2/14 A80237 CHK: 021182 08836 AMEX JAN07 CHARGES 000035 87002 JAN07 1,579.53 4,572.59
____________= FEBRUARY ACTIVITY DB: 1,579.53 CR: 0.00 1,579.53
5611-56220 PROFESSIONAL TRAINING
BEGINNING BALAN C E 0.00
5611-56250 DUES & SUBSCRIPTIONS
FUND : 111-WYLIE ECONOMIC DEVEL CORP PERIOD TO USE: Feb-2007 THRU Feb-2007
DEPT : 611 DEVELOPMENT CORP-WEDC ACCOUNTS: 5611-52010 THRU 5611-58830
POST DATE TRAN # REFERENCE PACKET======DESCRI?TION = VEND INV/JE # NOTE AMOUNT-- ==-=BALANCE====
B E G I N N I N G BALANCE 2,220.00
)7 2/21 A80909 CHK: 021324 08973 700NPEA 1 103059 22950 1,000.00 3,220.00
____________= FEBRUARY ACTIVITY DB: 1,000.00 CR: 0.00 1,000.00
5611-56310 INSURANCE
BEGINNING BALANCE 0.00
5611-56510 AUDIT AND LEGAL SERVICES
BEGINNING BALANCE 304.50
2/14/07 2/14 A80309 CHK: 021200 08848 70102 AUDIT SERVICES FY 001062 70102 1,920.00 2,224.50
2/22/07 2/22 A81095 CHK: 021355 09011 2793-0001M 37 000023 2793-0001M 37 36.50 2,261.00
2/22/07 2/22 A81096 CHK: 021355 09011 2793-0026M 1 000023 2793-0026M 1 835.00 3,096.00
____________= FEBRUARY ACTIVITY DB: 2,791.50 CR: 0.00 2,791.50
5611-56570 ENGINEERING - ARCHITECT SVCS
BEGINNING BALAN C E 30,347.58
2/14/07 2/14 A80283 CHK: 021197 08845 A0619D ENG SERV MARTINEZ 000196 A0619D 7,237.37 37,584.95
________-___= FEBRUARY ACTIVITY DB: 7,237.37 CR: 0.00 7,237.37
5611-56610 UTILITIES - ELECTRIC
BEGINNING BALANCE 808.01
2/15/07 2/15 A80476 CHK: 021241 08873 WATER 002091 124-0020-00 DEC 9.21 817.22
2/15/07 2/15 A80477 CHK: 021241 08873 ELECTRIC 002091 301-1901-98-4 DEC 363.17 1,180.39
__ _____ ___= FEBRUARY ACTIVITY DB: 372.38 CR: 0.00 372.38
5611-57110 DEBT SERVICE
BEGINNING BALAN C E 88,157.68
2/15/07 2/15 A80440 CHK: 021235 08870 PAY #7 FEB07 002048 PAY #7 FEB07 3,774.70 91,932.38
2/20/07 2/20 A80844 CHK: 021313 08938 PAY #36 MAR07 000891 36 MARCH07 5,741.48 97,673.86
2/21/07 2/21 A80906 CHK: 021325 08973 104015301 FEB26 PAY416 001792 104015301 FEB26 11,001.36 108,675.22
______=====a= FEBRUARY ACTIVITY DB: 20,517.54 CR: 0.00 20,517.54
FUND : 111-WYLIE ECONOMIC DEVEL CORP PERIOD TO USE: Feb-2007 THRU Feb-2007
DEPT : 611 DEVELOPMENT CORP-WEDC ACCOUNTS: 5611-52010 THRU 5611-58830
POST DATE TRAN # REFERENCE PACKET======DESCRIPTION VEND INV/JE # NOTE ----AMOUNT-- ====BALANCE====
5611-58110 LAND
BEGINNING BALANCE 0.00
5611-58120 DEVELOPMENT FEES
BEGINNING BALAN C E 0.00
5611-58210 STREETS & ALLEYS
BEGINNING BALAN C E 0.00
5611-58810 COMPUTER HARD/SOFTWARE
BEGINNING BALAN C E 0.00
5611-58830 FURNITURE & FIXTURES
BEGINNING BALANCE 4,117.46
* * * * * * * * * * * * * 000 ERRORS IN THIS REPORT! * * * * * * * * * * * * *
** REPORT TOTALS ** --- DEBITS --- --- CREDITS ---
BEGINNING BALANCES: 303,730.60 0.00
REPORTED ACTIVITY: 118,289.18 200.00CR
ENDING BALANCES: 422,019.78 200.00CR
3-13-2007 04:51 PM CITY OF WYLIE PAGE: 1
BALANCE SHEET
AS OF: FEBRUARY 28TH, 2007
111-WYLIE ECONOMIC DEVEL CORP
ACCOUNT# TITLE
ASs-..
CASH & CASH EQUIVALENTS
1000-10110 CLAIM ON CASH AND CASH EQUIV. 428,530.40
1000-10115 CASH-WEDC-INWOOD 0.00
1000-10135 INWOOD BANK-ESCROW 0.00
TOTAL CASH & CASH EQUIVALENTS 428,530.40
INVESTMENTS
1000-10341 TEXPOOL 0.00
1000-10343 LOGIC 0.00
TOTAL INVESTMENTS 0.00
ACCOUNTS RECEIVABLE
1000-11517 ACCTS REC - SALES TAX 0.00
TOTAL ACCOUNTS RECEIVABLE 0.00
INTERGOVERNMENTAL RECEIV
1000-12996 LOAN REC - JACOBY 147,648.48
TOTAL INTERGOVERNMENTAL RECEIV 147,648.48
INVENTORIES
1000-14112 INVENTORIES - MATERIAL/SUPPLY 0.00
10' '4116 INVENTORY - LAND 1,934,160.48
1, 4118 INVENTORY - BAYCO - SANDEN BLV 0.00
TOTAL INVENTORIES 1,934,160.48
PREPAID ITEMS
1000-14310 PREPAID EXPENSES 59,956.56
1000-14410 DEFERRED CHARGE 0.00
TOTAL PREPAID ITEMS 59,956.56
2,570,295.92
TOTAL ASSETS 2,570,295.92
LIABILITIES
PAYROLL DEDUCT. PAYABLE
2000-20110 FEDERAL INCOME TAX PAYABLE 832.92
2000-20111 MEDICARE PAYABLE 84.91
2000-20112 CHILD SUPPORT PAYABLE 0.00
2000-20113 CREDIT UNION PAYABLE 0.00
2000-20114 IRS LEVY PAYABLE 0.00
2000-20115 NATIONWIDE DEFERRED COMP 0.00
2000-20116 HEALTH INSUR PAY-EMPLOYEE 161.11)
2000-20117 TMRS PAYABLE 141.98
2000-20118 ROTH IRA PAYABLE 0.00
2000-20119 WORKERS COMP PAYABLE 0.00
2000-20120 FICA PAYABLE 363.09
2 0121 TEC PAYABLE 0.00
2t. 20122 STUDENT LOAN LEVY PAYABLE 0.00
2000-20123 ALIMONY PAYABLE 0.00
2000-20124 BANKRUPTCY PAYABLE 0.00
3-13-2007 04:51 PM CITY OF WYLIE PAGE: 2
BALANCE SHEET
AS OF: FEBRUARY 28TH, 2007
111-WYLIE ECONOMIC DEVEL CORP
ACCOUNT TITLE
20, _0125 VALIC DEFERRED COMP 0.00
2000-20126 ICMA PAYABLE 0.00
2000-20151 ACCRUED WAGES PAYABLE 0.00
2000-20180 ADDIT EMPLOYEE INSUR PAY ( 219.74)
2000-20199 MISC PAYROLL PAYABLE 0.00
TOTAL PAYROLL DEDUCT. PAYABLE 1,042.05
ACCOUNTS PAYABLE
2000-20201 AP PENDING 1,921.22
2000-20210 ACCOUNTS PAYABLE 0.00
TOTAL ACCOUNTS PAYABLE 1,921.22
CONTRACTS PAYABLE
2000-20540 NOTES PAYABLE 1,214,749.42
TOTAL CONTRACTS PAYABLE 1,214,749.42
DEFERRED REVENUE
2000-22270 DEFERRED REVENUE 147,648.48
TOTAL DEFERRED REVENUE 147,648.48
TOTAL LIABILITIES 1,365,361.17
FUND BALANCE/EQUITY
FU1' 'BALANCE
3k 590 FUND BALANCE-UNRESERV/UNDESIG 1,379,588.39
TOTAL FUND BALANCE 1,379,588.39
TOTAL BEGINNING EQUITY 1,379,588.39
TOTAL REVENUE 332,437.96
TOTAL EXPENDITURES 507,091.60
TOTAL SURPLUS/(DEFICIT) ( 174,653.64)
TOTAL EQUITY & SURPLUS/(DEFICIT) 1,204,934.75
TOTAL LIABILITIES, EQUITY & SURPLUS/DEFICIT 2,570,295.92
Wylie ,onomic Development Corporation
Balance Sheet Sub ledger
February 28, 2007
Notes Payable
Payment Principal Interest Principal Balance
January 31, 2007 $1,229,171.39
February
Inwood(#16 of 120) $11,001.36 $7,319.77 $3,681.59 $761,255.67
Birmingham(#36 of 60) 5,741.48 4,964.48 777.00 128,236.30
Hughes(#7 of 120) 3,774.70 2,137.72 1,636.98 325,257.45
February 28, 2007 $1,214,749.42
Wylie Economic Development Corporation
Balance Sheet Subledger
February 28, 2007
Inventory- Land
Address Acreage Improvements (sq.ft.) Cost Basis
McMasters 709 Cooper 0.48 n/a $202,045
Martinez Martinez Lane 25.00 n/a 639,000
Hughes 211 -212 Industrial 0.74 10,000 425,000
R.O.W. 0.18 41,585
Ferrell 2806 F.M. 544 1.09 6,500 239,372
Heath 706 Cooper 0.46 3,625 186,934
Perry 707 Cooper 0.491 4,800 200,224
Total 28.43 $1,934,160
WYLIE ECONOMIC DEVELOPMENT CORPORATION
SALES TAX REVENUE
FOR THE MONTH OF MARCH 2007
MONTH WEDC WEDC WEDC DIFF % DIFF
2005 2006 2007 06 VS 07 06 VS 07
DECEMBER $58,817 $74,957 $82,910 $7,953 10.61%
JANUARY 58,034 74,764 86,614 11,849 15.85%
FEBRUARY 96,492 110,794 121,615 10,820 9.77%
MARCH 55,710 88,544 83,172 -5,372 -6.07%
APRIL 58,530 67,714
MAY 92,311 113,042
JUNE 69,185 86,454
JULY 69,448 89,148
AUGUST 98,067 122,188
SEPTEMBER 70,260 69,876
OCTOBER 53,819 78,861
NOVEMBER 104,937 122,383
Sub-Total $885,609 $1,098,726 $374,311 $25,251 7.23%
AUDIT ADJ
TOTAL $885,609 $1,098,726 $374,311 $25,251 7.23%
WEDC SALES TAX ANALYSIS
$140,000
::::::
r
r1
V
iyi
$80,000 r
I, I
.
s.. s i. 1::::::
"' milk NI 112007
$20,000 ■ ' ' I 1111.11 , : �tI
II
a ((a m a c', 1 3 1 1 n
E c ° Q 2 -)i - E S E
U alN ¢ N U N
0 � ,_ a, O O
( Z
Wylie City Council
CITY OF WYLIE AGENDA REPORT
Meeting Date: March 27, 2007 Item Number: 1
Department: Planning (City Secretary's Use Only)
Prepared By: Renae' 011ie Account Code:
Date Prepared: March 2, 2007 Budgeted Amount:
Exhibits: Four
Subject
Consider, and act upon, a request to eliminate the distance requirement between a Beer & Wine Package Sales
establishment and a public school. The property being located at 405 South Highway 78.
Recommendation
Motion to deny a request to eliminate the distance requirement between a Beer & Wine Package Sales
establishment and a public school. The property being located at 405 South Highway 78.
Discussion
The property is located at 405 South Highway 78 and abuts the Hartman Elementary School (a public school).
Per the Alcoholic Beverage Code Section 109.33 of Title 4, Subchapter C Local Regulation Of Alcoholic
Beverages, the governing body of a municipality has the authority to prohibit the sale of alcoholic beverages by
a dealer whose place of business is within 300 feet of a church, public or private school, or public hospital. In
addition, the TABC code allows that same governing body the authority to increase that distance requirement
from 300 feet to 1,000 feet of a public school, if the governing body receives a request from the board of
trustees of a school district under Section 38.007, Education Code.
Subsection (e) of Section 109.33 allows the governing board of a city or town that has enacted a regulation
under Subsection (a)of Section 109.33 to grant variances to the regulation if the governing body determines
that:
1. Enforcement of the regulation in a particular instance is not in the best interest of the public,
2. Constitutes waste or inefficient use of land or other resources,
3. Creates an undue hardship on an applicant for a license or permit,
4. Does not serve its intended purpose,
5. Is not effective or necessary, or
6. For any other reason the governing board, after consideration of the health, safety, and welfare of the
public and the equities of the situation, determines is in the best interest of the community.
The applicant is requesting a variance to the distance requirement in accordance with the Alcoholic Beverage
Code Title 4 Regulatory And Penal Provisions, Chapter 109. Miscellaneous Regulatory Provisions, Section
109.33, Subsection (e). The requested variance is to grant a distance of zero feet as measured in a direct line
from property line to property line.
Page 1 of 2
Page 2 of 2
The attached map Exhibit "B" indicates the location of the subject property and it's proximity to not only the
school property line but the playground and ball fields on the school property. Because the ball field and
playground area are directly adjacent and/or visible from the subject property, staff's opinion is that this request
in no means meet the intent of the city Zoning Ordinance nor does it meet the intent of the law of the Alcoholic
Beverage Code.
State law does not require a notification and public hearing on this matter.
Approved By
Initial Date
Department Director RO 3/02/07
City Manager al ,3j, /0 7
EXHIBIT "A"
This is a family owned and operated business that must compete on an even field with
adjacent competitors. A strict compliance with the ordinance will create an undue and drastic
hardship on the family. A variance on the distance requirement will comply with the spirit and
intent of the ordinance if agreeable stipulations are attached and made a condition of the variance
being granted by this board after a full evidentiary hearing,which the applicant is requesting.
EXHIBIT "B"
Subject Property showing
property boundary ...............T
d b .1 : L 'r
v. -
4
,, -it
, . iri .
. II Ili.
NM
y '%.. ••" Hartman Elementary
,� Oh
_ ,, School Property Line
j (Chain Link fence)
c '�� WI LLIAMS ST•
+, r ei
t , 4
r a
' ' Location of Baseball Field
'h;I back stop. Appx. 42 feet
•
pp
A �' from property line.
I 3
. ,.. •
ift
Playground ,4 Jambi
,
Iv/equipment ■ 0,fis..% 1.10
Iv-
N •
A
■
•
EXHIBIT "C"
TITLE 4. REGULATORY AND PENAL PROVISIONS
CHAPTER 109. MISCELLANEOUS REGULATORY PROVISIONS
SUBCHAPTER C. LOCAL REGULATION OF ALCOHOLIC BEVERAGES
Sec. 109.33. SALES NEAR SCHOOL, CHURCH, OR HOSPITAL. (a) The
commissioners court of a county may enact regulations applicable in areas in the county outside
an incorporated city or town, and the governing board of an incorporated city or town may
enact regulations applicable in the city or town, prohibiting the sale of alcoholic beverages by a
dealer whose place of business is within:
(1) 300 feet of a church, public or private school, or public hospital;
(2) 1,000 feet of a public school, if the commissioners court or the
governing body receives a request from the board of trustees of a school district under Section
38.007, Education Code; or
NOTE: Section 38.007, Education Code. Alcohol free School Zones reads as follows:
(a) The board of trustees of a school district shall prohibit the use of alcoholic beverages at
a school-related or school-sanctioned activity on or off school property.
(b) The board of trustees of a school district shall attempt to provide a safe alcohol free
environment to students coming to or going from school. The board of trustees may cooperate
with local law enforcement officials and the Texas Alcoholic Beverage Commission in
attempting to provide this environment and in enforcing Sections 101.75, 109.33, and 109.59,
Alcoholic Beverage Code. Additionally, the board, if a majority of the area of a district is
located in a municipality of a population of 900,000 or more, may petition the commissioners
court of the county in which the district is located or the governing board of an incorporated
city or town in which the district is located to adopt a 1,000-foot zone under Section 109.33,
Alcoholic Beverage Code.
(3) 1,000 feet of a private school if the commissioners court or the
governing body receives a request from the governing body of the private school.
(b) The measurement of the distance between the place of business where alcoholic
beverages are sold and the church or public hospital shall be along the property lines of the
street fronts and from front door to front door, and in direct line across intersections. The
measurement of the distance between the place of business where alcoholic beverages are sold
and the public or private school shall be:
(1) in a direct line from the property line of the public or private school to
the property line of the place of business, and in a direct line across intersections; or
(2) if the permit or license holder is located on or above the fifth story of a
multistory building, in a direct line from the property line of the public or private school to the
property line of the place of business, in a direct line across intersections, and vertically up the
building at the property line to the base of the floor on which the permit or license holder is
located.
(c) Every applicant for an original alcoholic beverage license or permit for a
location with a door by which the public may enter the place of business of the applicant that is
within 1,000 feet of the nearest property line of a public or private school, measured along
street lines and directly across intersections, must give written notice of the application to
officials of the public or private school before filing the application with the commission. A
copy of the notice must be submitted to the commission with the application. This subsection
does not apply to a permit or license covering a premise where minors are prohibited from
entering the premises under Section 109.53.
(d) As to any dealer who held a license or permit on September 1, 1983, in a
location where a regulation under this section was in effect on that date, for purposes of
Subsection (a), but not Subsection (c), of this section, the measurement of the distance between
the place of business of the dealer and a public or private school shall be along the property
lines of the street fronts and from front door to front door, and in direct line across
intersections.
(e) The commissioners court of a county or the governing board of a city or town
that has enacted a regulation under Subsection (a) of this section may also allow variances to
the regulation if the commissioners court or governing body determines that enforcement of the
regulation in a particular instance is not in the best interest of the public, constitutes waste or
inefficient use of land or other resources, creates an undue hardship on an applicant for a
license or permit, does not serve its intended purpose, is not effective or necessary, or for any
other reason the court or governing board, after consideration of the health, safety, and welfare
of the public and the equities of the situation, determines is in the best interest of the com-
munity.
(f) Subsections (a)(2) and (3) do not apply to the holder of:
(1) a retail on-premises consumption permit or license if less than 50
percent of the gross receipts for the premises is from the sale or service of alcoholic beverages;
(2) a retail off-premises consumption permit or license if less than 50
percent of the gross receipts for the premises, excluding the sale of items subject to the motor
fuels tax, is from the sale or service of alcoholic beverages; or
(3) a wholesaler's, distributor's, brewer's, distiller's and rectifier's,
winery, wine bottler's or manufacturer's permit or license, or any other license or permit held
by a wholesaler or manufacturer as those words are ordinarily used and understood in Chapter
102.
(g) Subsection (a)(3) does not apply to the holder of:
(1) a license or permit issued under Chapter 27, 31, or 72 who is operating
on the premises of a private school; or
(2) a license or permit covering a premise where minors are prohibited
from entering under Section 109.53 and that is located within 1,000 feet of a private school.
(h) Subsection (a)(1) does not apply to the holder of:
(1) a license or permit who also holds a food and beverage certificate
covering a premise that is located within 300 feet of a private school; or
(2) a license or permit covering a premise where minors are prohibited
from entering under Section 109.53 and that is located within 300 feet of a private school.
(i) In this section, "private school" means a private school, including a parochial
school, that:
(1) offers a course of instruction for students in one or more grades from
kindergarten through grade 12; and
(2) has more than 100 students enrolled and attending courses at a single
location.
EXHIBIT "D"
ILL2'` t it
R i
k�yir
•
i II
•
1 , - -
Wylie City Council
CITY OF WYLIE AGENDA REPORT
Meeting Date: March 27, 2007 Item Number: 2
Department: Finance (City Secretary's Use Only)
Prepared By: Larry Williamson Account Code: N/A
Date Prepared: March 16, 2007 Budgeted Amount:
CAFR, Management Letter
and Finance Department
Exhibits: Comments
Subject
Consider, and act upon, acceptance of the Comprehensive Annual Financial Report of 2006 after presentation
by the audit firm of Rutledge Crain and Company, PC.
Recommendation
Motion to accept the Comprehensive Annual Financial Report of 2006.
Discussion
The City Charter in Article VII, Municipal Finance, Section 13: Independent Audit, requires that at the end of
the fiscal year an independent audit be made of all accounts of the City by a certified public accountant. In
compliance with the City Charter, our outside auditor, Rutledge Crain & Company, PC, has performed an audit
as of September 30, 2006. This is the forth year for the audit to be performed by Rutledge Crain & Company,
PC. Mr. Lewis Crain will briefly present the CAFR, including the Independent Auditors' Report, and answer
any questions that the City Council may have regarding the report.
Approved By
Initial Date
Department Director LW f/(� 3/19/07
City Manager Y I ' Jlo . /ol
Page 1 of 1
RUTLEDGE CRAIN & COMPANY, PC
CERTIFIED PUBLIC ACCOUNTANTS
2401 Garden Park Court, Suite B
Arlington, Texas 76013
January 12, 2007
To the Members of the City Council
City of Wylie, Texas
In planning and performing our audit of the basic financial statements of the City of Wylie, Texas
for the year ended September 30, 2006, we considered its internal control in order to determine
our auditing procedures for the purpose of expressing our opinion on the basic financial
statements and not to provide assurance on internal control. However,we noted certain matters
involving internal control and its operation that we consider to be reportable conditions under
standards established by the American Institute of Certified Public Accountants. Reportable
conditions involve matters coming to our attention relating to significant deficiencies in the design
or operation of the internal control that, in our judgment, could adversely affect the City of Wylie's
ability to record, process, summarize, and report financial data consistent with the assertions of
management in the basic financial statements.
A material weakness is a reportable condition in which the design or operation of one or more of
the internal control components does not reduce to a relatively low level the risk that errors or
fraud in amounts that would be material in relation to the basic financial statements being audited
may occur and not be detected within a timely period by employees in the normal course of
performing their assigned functions.
Our consideration of internal control would not necessarily disclose all matters in internal control
that might be reportable conditions and,accordingly,would not necessarily disclose all reportable
conditions that are also considered to be material weaknesses as defined above. However, we
noted the following reportable conditions that we believe to be material weaknesses.
1. Maintenance of General Ledger
The general ledger is the summary record of the City's financial transactions and is the
starting point for preparing the City's financial statements. Maintenance of the general
ledger has shown marked improvement from the previous year. However,we did note the
following items:
a. Numerous liability accounts had mispostings to the accounts resulting in debit
balances; and some asset accounts had mispostings to the accounts resulting in
credit balances.
Members:
Metro(817)265-9989 American Institute of Certified Public Accountants Fax(817)861-9623
Texas Society of Certified Public Accountants
To the Members of the City Council
January 12, 2007 Page 2
b. The capital assets had not been maintained for the year by adding additions and
removing retirements of capital assets.
We recommend that the director of finance review monthly general ledger accounts to
insure that account balances make sense.
2. Related Party Transactions
As disclosed in the footnotes to the financial statements, in the prior year,WEDC obtained
a loan in the amount of $878,372 from a bank whose president is the chairman of the
board of WEDC. At September 30, 2006, the unpaid balance of this loan was $797,855 .
We recommend that the City and WEDC develop ajoint policy which prohibits related party
transactions as a matter of public policy.
3. Accounting and Administration
WEDC has an agreement with the City to maintain its general ledger. The numerous
transactions entered into by WEDC are complicated, and require detailed coordination
between WEDC and the finance department to insure that the transactions are recorded
properly and contemporaneously. Coordination between WEDC and the finance
department has improved, however, numerous adjustments were required to properly
reflect the financial position of WEDC. These adjustments were made as a result of
extensive research by the finance department on items which have been misreported in
previous years.
We encourage continued cooperation between the executive director of WEDC and the
director of finance to insure improvement in financial reporting of WEDC.
We also noted the following reportable conditions that are not believed to be material weaknesses.
4. Depreciation of Capital Assets
One of the requirements of GASB 34 is that all depreciable capital assets be recorded and
the depreciation be charged to the various departments in the government wide financial
statements. The City installed a new general ledger system which includes a module for
depreciation of capital assets. In prior years we recommended that the City implement use
of the depreciation module for all depreciable capital assets. However, this
recommendation has not been fully implemented. This issue requires inputting all capital
assets into the incode software module.
We recommend that the City immediately input the capital assets into the fixed asset
module to improve accountability.
To the Members of the City Council
January 12, 2007 Page 3
Other Matters
The following matters are not reportable conditions, but are items which should be considered
because they affect internal financial statements which the City uses to accomplish its financial
duties:
5. Municipal Court Operations
In accordance with GASB 33, fines and fees should be recorded in the general ledger
(fines receivable, allowance for uncollectible accounts, revenue and adjustments). The
municipal court monthly operating cycle should be reviewed and documented. Monthly
closing procedures should include tests of each stage of the cycle and reconcilement of
detail account balances with the general ledger. These procedures would be made easier
if the municipal court used the same software as the finance department.
We recommend the director of finance and municipal court personnel record these
operating procedures and determine the form and content of monthly activity
documentation to assist with monthly closings. This comment is being repeated from the
prior year.
6. Implementation of GASB 45
The Governmental Accounting Standards Board (GASB) has issued Governmental
Accounting Standards Board Statement 45 which will take effect for the fiscal year ended
September 30,2008. This new statement provides guidance on all aspects of other post
employment benefits reporting by employers.
7. Implementation of GASB 47
The Governmental Accounting Standards Board (GASB) has issued Governmental
Accounting Standards Board Statement 47 which will take effect for the fiscal year ended
September 30, 2007. This new statement provides guidance on how employers should
account for benefits associated with either voluntary or involuntary terminations of
employees.
•••
The City's finance department devoted long hours in preparing for the audit and in assisting us
during the audit by performing analysis and researching the numerous questions which came up
during the audit. We want to express our thanks to the Finance Director, his staff, and all other
members of the City staff for their assistance.
To the Members of the City Council
January 12, 2007 Page 4
•••
The foregoing conditions were considered in determining the nature, timing and extent of audit
tests to be applied in our examination of the financial statements,and this report of such condition
does not modify our report dated January 12, 2007 on such financial statements. We would be
pleased to discuss our recommendations in more detail and to assist in implementing them at your
request.
This report is intended solely for the information and use of the City Council, management, and
others within the administration and is not intended to be and should not be used by anyone other
than these specified parties. This restriction is not intended to limit distribution of this report,
which, upon acceptance is a matter of public record.
Very truly yours,
Finance Department Memorandum
To: Lewis Crain, City Auditor
From: Larry Williamson, Finance Director
Date: March 14, 2007
Subject: Responses to Auditor's Management Letter
CC: Mindy Manson, City Manager
John Mondy, Mayor
Eric Hogue, Mayor Pro Tern
Earl Newsom, Councilmember
Red Byboth, Councilmember
Merrill Young, Councilmember
Rick White, Councilmember
The Finance Department has received a copy of your Management Letter to City Council.
As is the practice, the Finance Department has reviewed your letter and puts forth in this
memorandum our opinions regarding your findings and recommendations, as well as the
steps that will be taken to address those areas of concern if necessary. This memo is in
keeping with that practice.
1. Maintenance of General Ledger
A) With the change in the Assistant Finance Director and the hiring of Melissa Beard,
the Finance Department has implemented these changes starting last October 1, 2006.
The finance staff is now reviewing general ledger accounts and more importantly
reconciling major accounts on a monthly basis. This practice has already paid dividends
by finding under charges and over charges in our payroll system and quite a lot of mis-
postings.
B) The capital assets had not been maintained properly during the year because the
finance department needed to get a handle on what assets were on the books and whether
these assets actually existed. There was very little backup to support these capital assets.
The Finance Department has spent the better part of a year researching prior year capital
assets and as a result of this work found assets that had not been recorded in prior years
and capital assets that had been recorded in the wrong places in prior years. These
findings were material enough to cause a restatement of the prior year financial
statements. The Finance Department is still working on this project, but has made major
strides in having a balance sheet that reflects the true nature of our assets and sub-ledgers
that support these assets. It has been a very slow process because it required starting at
ground zero and building these balance sheet accounts one asset at a time. Once this
project is completed, maintaining our capital assets should be relatively easy.
2. Related Party Transaction
The Finance Department's response was addressed in last years Comments to the
Management Letter. This item will continue to be on the management letter as long as the
loan is outstanding and Mr. Fuller is a member of the WEDC board.
3. Accounting and Administration
We concur with the Auditors' findings. These items were found during research (see
Item 1B of this memo) of prior year balance sheet transactions. The Finance Department
and the WEDC worked together to clean up the balance sheet. It is our opinion that the
incorrect booking of these assets in prior years was for the most part the fault of the
Finance Department, because of its failure to understand the transactions before the
transactions were booked. Asking the right questions is very important in understanding
the complex business transactions initiated by the WEDC.
4. Depreciation of Capital Assets
We agree with the Auditors' findings. This item is directly associated with Item 1B. It
was a decision by the Finance Department not to put capital assets into Incode until we
were able to identify the capital assets already on the books. Once the capital assets have
been identified and the balances verified, the Finance Department will load them into the
Incode Module. We are looking forward to using the Incode Module for calculating
depreciation as it is much easier that using spreadsheets.
5. Municipal Courts Operation
We concur with the Auditors' findings and endorse their recommendation. The Municipal
Courts accounting system is separate from the financial system used by the majority of
the City. Accounting for court revenue and all the different state fees is very complex.
The finance department reconciled for the first time this year the accounts receivable
generated by the Courts accounting system. Since the Finance Department does not work
with this system on a day to day basis, this process was difficult. The Finance
Department requested funding for Incode's court module in this year's budget, but it was
cut by the previous City Manager.
6. Implementation of GASB 45
GASB 45 does not currently apply to the City of Wylie. The city has not made any
commitments to retirees for future benefits other than what they will receive through
TMRS.
7. Implementation of GASB 47
As recommended by the auditors, we will obtain a copy of GASB 47 and the publication
by the GFOA so that we will be up to date when this pronouncement becomes effective.
,.. -...
,...„
\-\
i . .
' .
0
i f;,•, 7T.
. . ,
k,.- • 0 f'''',
•,
_, r,,,--,--;::„ ,•
..,,, d
_. .
_, 1 ?)„,„-:• ...,,i,,,,.. ,1,,rwl,..wr.
'-i - ,,------------)-----.
1.1.:Ip':•,- --144::., --VO%T A_.',,T c-,,, s , ,_
ri
Itii
ailiii1 - '-; t. t‘.........
i.,..
4,..''.. 1.L.:4.4A4..._':i- - .• '
,
,.,,,,r,,,,
,,
.,
i ig 0
kk.si
,.-,',
--'-il,-• '
—
----- ,
if:* ''''' 7:-..--.4,,,,,,, ,,, ,n,,,, , ,• „,c,„,,,,
• ,....„.•
, •
.,,,,,,,:t:',,•,,,,,,,!„ ) '-'74''''''''i',4,i,,!':',,,,
,. .1.1
.,
Ti
'\ ,
. .
'-
CITY OF WYLIE, TEXAS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED SEPTEMBER 30, 2006
Prepared by
Finance Department
Larry Williamson, Finance Director
Melissa Beard, Senior Accountant
CITY OF WYLIE, TEXAS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
For The Year Ended September 30, 2006
TABLE OF CONTENTS
Page Exhibit/Table
INTRODUCTORY SECTION
Letter of Transmittal 1
GFOA Certificate of Achievement 5
Organizational Chart 6
List of Principal Officials 7
FINANCIAL SECTION
Independent Auditors' Report on Financial Statements 11
Management's Discussion and Analysis (Required Supplementary Information) 15
Basic Financial Statements
Government-wide Financial Statements: 25 Exhibit A-1
Statement of Net Assets 25 Exhibit A-2
Statement of Activities
Fund Financial Statements: 28 Exhibit A-3
Balance Sheet-Governmental Funds
Reconciliation of the Governmental Funds 29 Exhibit A-4
Balance Sheet to the Statement of Net Assets
Statement of Revenues, Expenditures, and Changes in 30 Exhibit A-5
Fund Balances -Governmental Funds
Reconciliation of the Statement of Revenues, Expenditures, and Changes in
Fund Balances of Governmental Funds to the Statement of Activities 31 Exhibit A-6
Statement of Net Assets-Proprietary Funds 32 Exhibit A-7
Statement of Revenues, Expenses, and Changes in 33 Exhibit A-8
Fund Net Assets- Proprietary Funds
Statement of Cash Flows-Proprietary Funds 34 Exhibit A-9
Notes to the Financial Statements 35
Required Supplementary Information:
Budgetary Comparison Schedules:
General Fund 60 Exhibit B-1
CITY OF WYLIE, TEXAS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
For The Year Ended September 30, 2006
TABLE OF CONTENTS
Page Exhibit/Table
Combining Statements and Budgetary Comparison Schedules as Supplementary Information:
Combining Balance Sheet-All Nonmajor Governmental Funds 64 Exhibit C-1
Combining Statement of Revenues, Expenditures and Changes in
Fund Balances-All Nonmajor Governmental Funds 65 Exhibit C-2
Special Revenue Funds:
Combining Balance Sheet- Nonmajor Special Revenue Funds 66 Exhibit C-3
Combining Statement of Revenues, Expenditures and Changes
in Fund Balances- Nonmajor Special Revenue Funds 68 Exhibit C-4
Budgetary Comparison Schedules:
4B Sales Tax Revenue Fund 70 Exhibit C-5
Park Acquisition and Improvement 71 Exhibit C-6
Emergency Communication Fund 72 Exhibit C-7
Fire Training Center 73 Exhibit C-8
Debt Service Funds:
Combining Balance Sheet- Nonmajor Debt Service Funds 74 Exhibit C-9
Combining Statement of Revenues, Expenditures and Changes
in Fund Balances- Nonmajor Debt Service Funds 75 Exhibit C-10
Budgetary Comparison Schedules:
General Obligation Debt Service 76 Exhibit C-11
4B Debt Service 1996 77 Exhibit C-12
4B Debt Service 2005 78 Exhibit C-13
Capital Projects Funds:
Combining Balance Sheet- Nonmajor Capital Projects Funds 79 Exhibit C-14
Combining Statement of Revenues, Expenditures and Changes
in Fund Balances - Nonmajor Capital Projects Funds 80 Exhibit C-15
CITY OF WYLIE, TEXAS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
For The Year Ended September 30, 2006
TABLE OF CONTENTS
Page Exhibit/Table
STATISTICAL SECTION
Net Assets by Component 84 Table D-1
Expenses, Program Revenues, and Net(Expense)/Revenue 85 Table D-2
General Revenues and Total Change in Net Assets 86 Table D-3
Program Revenues by Function/Program 87 Table D-4
Fund Balances of Governmental Funds 88 Table D-5
Changes in Fund Balances of Governmental Funds 89 Table D-6
Tax Revenues by Source, Governmental Funds 90 Table D-7
Assessed Value and Estimated Actual Value of Taxable Property 91 Table D-8
Direct and Overlapping Property Tax Rates 92 Table D-9
Principal Property Tax Payers 93 Table D-10
Property Tax Levies and Collections 94 Table D-11
Direct and Overlapping Sales Tax Rates 95 Table D-12
Sales Tax Revenue Payers by Industry 96 Table D-13
Ratios of Outstanding Debt by Type 97 Table D-14
Ratios of General Bonded Debt Outstanding 98 Table D-15
Direct and Overlapping Governmental Activities Debt 99 Table D-16
Legal Debt Margin Information 100 Table D-17
Pledged-Revenue Coverage 101 Table D-18
Demographic and Economic Statistics 102 Table D-19
Principal Employers 103 Table D-20
Full-Time-Equivalent Employees by Function/Program 104 Table D-21
Operating Indicators By Function/Program 105 Table D-22
Capital Asset Statistics by Function/Program 106 Table D-23
iii
This page is left blank intentionally.
iv
Introductory Section
v
This page is left blank intentionally.
vi
CITY OF WYLIE Our Mission
...to be responsible stewards of the public trust,
to strive for excellence in public service and to
enhance the quality of life for all.
January 31, 2007
The Honorable John Mondy, Mayor
Members of the City Council
And the Citizens
City of Wylie,Texas
Financial policies of the City of Wylie require that the City's Finance Department prepare a complete
set of financial statements presented in conformity with generally accepted accounting principles
(GAAP) and audited in accordance with generally accepted auditing standards by a firm of licensed
certified public accountants. Accordingly, the Comprehensive Annual Financial Report (CAFR) for the
City of Wylie,Texas for the fiscal year ended September 30, 2006, is hereby issued.
This report consists of management's representations concerning the finances of the City.
Consequently, management assumes full responsibility for the completeness and reliability of all the
information presented in this report. To provide a reasonable basis for making the representations,
management of the City has established a comprehensive internal control framework that is designed
both to protect the City's assets from loss,theft, or misuse and to compile sufficient reliable information
for the preparation of the City's financial statements in conformity with GAAP. Because the cost of
internal controls should not outweigh their benefits, the City's comprehensive framework of internal
controls has been designed to provide reasonable, rather than absolute assurance, that the financial
statements will be free from material misstatement. As management, we assert that, to the best of our
knowledge and belief, this financial report is complete and reliable in all material respects.
The City's financial records have been audited by Rutledge Crain & Company, PC, Certified Public
Accountants, as required by the City Charter. This CAFR has been prepared based upon those
audited records. The goal of the independent audit was to provide reasonable assurance that the
financial statements of the City for the fiscal year ended September 30, 2006, are free of material
misstatement. This independent audit involved examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements; assessing the accounting principles used and
significant estimates made by management; and evaluating the overall financial statement
presentation. The independent auditor concluded, based upon the audit, that there was a reasonable
basis for rendering an unqualified opinion that the City's financial statements for the fiscal year ended
September 30, 2006, are fairly presented in conformity with GAAP. The independent auditors' report
is presented as the first component of the financial section of this report.
1
2000 Highway 78 North • Wylie,Texas 75098 • 972.442.8100 • www.wylietexas.gov
GAAP requires that management provide a narrative introduction, overview, and analysis to
accompany the basic financial statements in the form of Management's Discussion and Analysis
(MD&A). This letter of transmittal is designed to complement MD&A and should be read in conjunction
with it. The City's MD&A can be found immediately following the report of the independent auditor.
Profile of the City
The City of Wylie is located in the south central portion of Collin County, approximately 23 miles
northeast of downtown Dallas. Incorporated in 1887, the City adopted its Home Rule Charter on
January 19, 1985, and operates under a council-manager form of government. The City Council is
comprised of a Mayor and six council members. All members are elected at-large on a staggered and
nonpartisan basis for three-year terms. They are responsible to enact local legislation, provide policy,
and annually adopt the operating budget. They appoint the City Manager, City Attorney, Judge of the
Municipal Court and members of various boards and commissions. The City Manager, under the
oversight of the City Council, is responsible for the proper administration of the daily operations of the
City.
The City provides a full range of municipal services including general government, public safety,
police, fire, emergency communications), streets, library, parks and recreation, planning and zoning,
code enforcement, animal control, and water and sewer utilities. Sanitation services are provided by
the City but are privately contracted. The Wylie Economic Development Corporation (WEDC) is
included in the financial statements as a component unit is. Its purpose is to aid, promote and further
the economic development within the City. The Wylie Park and Recreation Facilities Development
Corporation (4B Corporation) is combined within the financial statements of the City. Both WEDC and
the 4B Corporation are primarily funded with sales tax revenues. Both corporations are discussed
more fully in the notes to the financial statements.
The annual budget of the City serves as the foundation for its financial planning and control. The
budget is proposed by the City Manager and adopted by the City Council in accordance with policies
and procedures established by the City Charter, Council ordinances and state law. The budget
process begins each year with departmental requests to the City Manager. After departmental review
by the City Manager, a proposed budget is prepared for presentation to the City Council. The City
Council reviews the budget in subsequent work sessions and a formal budget is prepared and made
available to the public for review by August 5th each year. Prior to official adoption of the budget by
council, a public hearing on the proposed budget is held to allow for public input.
Factors Affecting Financial Condition
The information presented in the financial statements is perhaps best understood when it is considered
from the broader perspective of the specific environment within which the City of Wylie operates.
Local economy
Fast paced growth is currently one of the identifying characteristics of the City. The 2006 population of
the City has been estimated to be 33,000. This represents a 10.7% increase over the previous year.
The trend of fast paced growth is continuing into fiscal year 2007. The tremendous growth in
population has also brought about a large growth in residential construction. Residential construction
permits increased by 10%from the previous year with 1,100 permits issued during fiscal year 2006. It
is estimated that this new residential construction added$150 million to our local tax base. When both
residential and commercial growth is considered our total tax base has grown by 12.3% over the
previous year. Our tax value this year, as provided by the Collin County Appraisal District, has grown
to $1,566.6 million. The end result of the growth is a favorable economic environment within the City
of Wylie and recognition as one of the fastest growing areas in Collin County and the Dallas-Ft. Worth
Metroplex.
2
Long-term financial planning
In 2006, the City developed a long-term Capital Improvement Program for major infrastructure
improvements. The plan included street and park improvements, a new city hall, library, fire station,
recreation center and sidewalks. The voters of the City of Wylie authorized the City to issue
$73,950,000 in General Obligation Bonds to fund this capital improvement program. The first series of
bonds were sold in late March of 2006.
Cash management
The City currently utilizes American National Bank as the main depository. All City funds are
deposited into the city depository on a daily basis. Bank deposits are secured by allowable securities
and held as collateral at the Federal Reserve Bank. The market value of the pledged collateral must
be equal to or greater than 102% of the principal and accrued interest for cash balances in excess of
the FDIC insurance coverage.
City officials, as allowed by the City Investment Policy and Texas statutes, invest cash balances during
the year. The three overall objectives of the City's investment policy, in their order of importance, are
the preservation and safety of principal, liquidity and yield. At September 30, 2006, the fair market
value of the City's investment portfolio was$62,340,654.
Risk management
The City is exposed to various risk of loss related to torts; theft of, damage to, and destruction of
assets; errors and omissions; injuries to employees; and natural disasters. During FY2006, the City
purchased general liability, property, public official and police professional liability insurance from the
Texas Municipal League Intergovernmental Risk Pool (the Pool). In addition, the City's worker
compensation insurance is also with the Pool. United Healthcare provided employee group medical
coverage for FY2006. Employees have the option of providing for any family coverage. The Texas
Workforce Commission provides unemployment benefits to former eligible employees.
Retirement system
The City provides pension benefits to all full-time employees through a nontraditional, joint contributory
defined benefit plan administered by the Texas Municipal Retirement System, an agent multiple-
employer public retirement system. Pension expense for the calendar year ended December 31,
2006, (including prior service costs amortized over 25 years)was$800,020.
Awards and Acknowledgements
The Government Finance Officers Association of the United States and Canada (GFOA) awarded a
Certificate of Achievement for Excellence in Financial Reporting to the City of Wylie for its
comprehensive annual financial report(CAFR)for the fiscal year ended September 30, 2005. The City
has participated in the program for many years and has been awarded the Certificate numerous times.
In order to be awarded a Certificate of Achievement, the government must publish an easily readable
and efficiently organized CAFR. This report must satisfy both GAAP and applicable legal
requirements.
A Certificate of Achievement is valid for a period of one year only. We believe our current report
continues to conform to the Certificate of Achievement program requirements, and we are submitting it
to the GFOA to determine its eligibility for another certificate.
The preparation of this report could not be accomplished without the dedicated services of the entire
staff of the Finance Department. We would like to express our appreciation to all staff members who
assisted and contributed to the preparation of this report. Acknowledgement is also given to
representatives of Rutledge Crain & Company, PC, Certified Public Accountants for their dedicated
assistance in producing this report.
3
Special acknowledgement is given to the City Manager, Mayor and the members of the City Council
for their support for maintaining the highest standards of professionalism in the management of the
City of Wylie finances.
Respect i ly ubmi d,
'" illi m n
i a so
F n ce Director
4
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Wylie
Texas
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
September 30, 2005
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government Finance Officers
Association of the United States and Canada to
government units and public employee retirement
systems whose comprehensive annual financial
reports(CAFRs)achieve the highest
standards in government accounting
and fmancial reporting.
''SNCE OPy�
��/ram
SLUR
�"NNAOA President
unuw
*14.,4490.
Executive Director
5
City of Wylie Organizational Chart
Mayor
And
City Council
Wylie Econo t a-' Parks& �j Boards s `° City City Municipal-t;
Development Recreation and Manager Attorney Judge
olporation 1@rporation unmmissions
Assistant City
Manager
Public Information
Office _... _..._.
�.z._.
_.M..
n
i -= I' „ 8 z Support '
P bfis
Engineering Fire ' Police y Finance LibraryBuilding ing
` Services Services
-
Inspections Communications Animal Accounting! City — Human — Streets — Building
Control Finance Secretary Resources Permits
a .»s: .<a»x ,..r-...-s,rr,_44fTr" ,.i7'.,' ,. ac ^:.,; "'*'-, . v-;at.ci :rt .;K:.;,-P,'w'.. .. ffTt.. x't,r'nc.. ... e".f., 5",..s"rn+,°." -m:, ,wwri'-n"' ......
_ Utility Billing/ . Planning& — purchasing — Utilities _ Building
Collections Zoning Water/Sewer Inspections
r
-Via': 'err';rsw.. .. .�.r4-#�5�... 'sze-:��- ^� .nr;,;
— Information _ Fleet — Code
Technology Maintenance Enforcement
Ir :".tt:>"7*v,,,rt'r", >'..,._.,-,moc'S`.t ff `r 4et a r.m E.rsa, ,&�,e, aa- I
Municipal — Parks/
Court Recreation
_ Facilities
Maintenance
CITY OF WYLIE, TEXAS
PRINCIPAL OFFICIALS
September 30, 2006
City Council
John Mondy, Mayor
Carter Porter, Mayor Pro Tern
Earl Newsom, Councilmember
M. G. "Red" Byboth, Councilmember
Eric Hogue, Councilmember
Merrill Young, Councilmember
Rick White, Councilmember
City Staff
Mindy Manson, City Manager
Jeff Butters, Assistant City Manager/Police Chief
Randy Corbin, Fire Chief
Larry Williamson, Finance Director
Carole Ehrlich, City Secretary
Chris Hoisted, City Engineer
Mike Sferra, Public Services Director
Rachel Orozco, Library Director
Johnny Bray, Building Director
Renae' 011ie, Planning Director
Sam Satterwhite, WEDC Director
Other Appointed Officials
Rutledge Crain & Company PC, Auditors
Abernathy, Roeder, Robertson, City Attorney
Fulbright & Jaworski, LLP, Bond Counsel
First Southwest Company, Financial Advisors
7
This page is left blank intentionally.
8
Financial Section
9
This page is left blank intentionally.
10
RUTLEDGE CRAIN & COMPANY, PC
CERTIFIED PUBLIC ACCOUNTANTS
2401 Garden Park Court, Suite B
Arlington, Texas 76013
Independent Auditors' Report on Financial Statements
To the City Council
City of Wylie,Texas
We have audited the accompanying financial statements of the governmental activities,the business-type activities,the
aggregate discretely presented component unit,each major fund,and the aggregate remaining fund information of the
City of Wylie, Texas as of and for the year ended September 30, 2006, which collectively comprise the City's basic
financial statements as listed in the table of contents.These financial statements are the responsibility of the City of Wylie,
Texas'management. Our responsibility is to express an opinion on these financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the United States of America.
Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used
and significant estimates made by management,as well as evaluating the overall financial statement presentation. We
believe that our audit provides a reasonable basis for our opinions.
In our opinion,the financial statements referred to above present fairly,in all material respects,the respective financial
position of the governmental activities,the business-type activities,the aggregate discretely presented component unit,
each major fund,and the aggregate remaining fund information of the City of Wylie,Texas as of September 30,2006,
and the respective changes in financial position and cash flows,where applicable,thereof for the year then ended in
conformity with accounting principles generally accepted in the United States of America.
The Management's Discussion and Analysis and budgetary comparison schedules on pages 15-21 and pages 60-61,
identified as Required Supplementary Information in the table of contents,are not a required part of the basic financial
statements but are supplementary information required by accounting principles generally accepted in the United States
of America. We have applied certain limited procedures, which consisted principally of inquiries of management
regarding the methods of measurement and presentation of the supplemental information. However,we did not audit
the information and express no opinion on it.
Our audit was performed for the purpose of forming opinions on the financial statements which collectively comprise
the City of Wylie,Texas'basic financial statements. The introductory section,combining and individual nonmajor fund
financial statements,schedules,and statistical tables are presented for purposes of additional analysis and are not a
required part of the basic financial statements. The combining and individual nonmajor fund financial statements and
schedules have been subjected to the auditing procedures applied in the audit of the basic financial statements and,
in our opinion,are fairly stated in all material respects in relation to the basic financial statements taken as a whole. The
introductory section and the statistical tables have not been subjected to the auditing procedures applied in the audit
of the basic financial statements and, accordingly,we express no opinion on them.
GLe0(4--- ic , PC
January 12,2007 U
11
Members:
Metro(817)265-9989 American Institute of Certified Public Accountants Fax(817)861-9623
Texas Society of Certified Public Accountants
This page is left blank intentionally.
12
Management's Discussion and Analysis
13
This page is left blank intentionally.
24
EXHIBIT A-1
CITY OF WYLIE, TEXAS
STATEMENT OF NET ASSETS
SEPTEMBER 30, 2006
Primary Government
Governmental Business-type Component
Activities Activities Total Units
ASSETS
Cash and cash equivalents $ 3,593,515 $ 150,977 $ 3,744,492 $ 26,935
Investments 47,380,175 5,886,396 53,266,571 360,753
Receivables(net of allowances for uncollectibles) 2,173,511 1,537,797 3,711,308 348,892
Inventories 72,891 47,838 120,729 1,929,522
Prepaid items 129,288 18,579 147,867 76,178
Restricted assets:
Cash and cash equivalents — 1,158,980 1,158,980 —
Investments -- 8,713,330 8,713,330 —
Receivables — 3,085,205 3,085,205 —
Deferred charges 495,785 128,429 624,214 —
Capital assets(net of accumulated depreciation)
Land 25,057,852 59,141 25,116,993 --
Construction in progress 618,018 2,407,582 3,025,600 —
Buildings 2,649,074 5,839 2,654,913 --
Improvements other than buildings 76,322,159 34,973,843 111,296,002 —
Machinery and equipment 3,579,177 76,035 3,655,212 —
Total Assets 162,071,445 58,249,971 220,321,416 2,742,280
LIABILITIES
Accounts payable and other
current liabilities 1,802,328 307,679 2,110,007 9,978
Unearned revenue -- — -- 147,648
Accrued interest payable 1,014,614 41,932 1,056,546 5,197
Due to other governments 138,874 — 138,874 —
Liabilities payable from restricted assets -- 1,031,383 1,031,383 --
Noncurrent liabilities:
Due within one year 1,752,168 705,091 2,457,259 188,832
Due in more than one year 60,564,374 7,215,670 67,780,044 1,120,656
Total Liabilities 65,272,358 9,301,755 74,574,113 1,472,311
NET ASSETS
Invested in Capital Assets, Net of Related Debt 81,735,348 30,840,491 112,575,839 —
Restricted For:
Debt Service 1,245,844 343,849 1,589,693 —
Capital Projects 39,960,133 11,582,283 51,542,416 —
Unrestricted (26,142,238) 6,181,593 (19,960,645) 1,269,969
Total Net Assets $ 96,799,087 $ 48,948,216 $ 145,747,303 $ 1,269,969
The accompanying notes are an integral part of this statement.
25
CITY OF WYLIE, TEXAS
STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED SEPTEMBER 30, 2006
Program Revenues
Operating Capital
Charges for Grants and Grants and
Functions/Programs Expenses _ Services Contributions Contributions
PRIMARY GOVERNMENT:
Governmental Activities:
General government $ 4,050,307 $ 1,862,104 $ — $ --
Public safety 8,003,798 946,408 — 72,402
Urban development 862,184 1,748,000 — —
Streets 4,578,339 -- -- 8,025,212
Community service 2,651,744 221,299 37,731 314,290
Interest on long-term debt 1,751,355 — — —
Total governmental activities 21,897,727 4,777,811 37,731 8,411,904
Business-type Activities:
Utility 8,843,954 8,832,061 _ 5,148,706
Total Business-type Activities 8,843,954 8,832,061 — 5,148,706
Total Primary Government $ 30,741,681 $ 13,609,872 $ 37,731 $ 13,560,610
COMPONENT UNITS:
Wylie Economic Development Corporation $ 1,562,484 $ 10,814 $ $ --
Total Component Units $ 1,562,484 $_ 10,814 $_ — $__
General Revenues:
Ad valorem taxes
Sales Taxes
Franchise Taxes
Unrestricted Investment Earnings
Miscellaneous income
Transfers
Total General Revenues
Change in Net Assets
Net Assets-Beginning
Net Assets-Ending
The accompanying notes are an integral part of this statement.
26
EXHIBIT A-2
Net(Expense) Revenue and Changes in Net Assets _
Governmental Business-type Component
Activities Activities Total Units
$ (2,188,203) $ (2,188,203)
(6,984,988) (6,984,988)
885,816 885,816
3,446,873 3,446,873
(2,078,424) (2,078,424)
(1,751,355) (1,751,355)
(8,670,281) (8,670,281)
-- $ 5,136,813 5,136,813
— 5,136,813 5,136,813
(8,670,281) 5,136,813 (3,533,468)
$ (1,551,670)
(1,551,670)
11,232,673 — 11,232,673 --
3,308,755 -- 3,308,755 1,098,726
1,941,805 -- 1,941,805 —
1,406,561 821,375 2,227,936 22,727
469,580 315,329 784,909 13,775
447,137 (447,137) — --
18,806,511 689,567 19,496,078 1,135,228
10,136,230 5,826,380 15,962,610 (416,442)
86,662,857 43,121,836 129,784,693 _ 1,686,411
$ 96,799,087 $ 48,948,216 $ 145,747,303 $ 1,269,969
27
EXHIBIT A-3
CITY OF WYLIE, TEXAS
BALANCE SHEET-GOVERNMENTAL FUNDS
SEPTEMBER 30, 2006
2006 Other Total
General General Governmental Governmental
Fund Obligation _ Funds Funds
ASSETS
Cash and cash equivalents $ 457,663 $ 2,537,801 $ 490,353 $ 3,485,817
Investments 6,092,602 33,542,334 6,321,793 45,956,729
Receivables(net of allowances for uncollectibles):
Taxes 232,430 -- 65,994 298,424
Accounts 190,124 -- - 190,124
Other 307,442 -- 39,101 346,543
Intergovernmental 410,537 -- 201,244 611,781
Due from other funds 13,247 -- 1,838 15,085
Inventories, at cost 72,891 - - 72,891
Prepaid items 120,900 - 8,388 129,288
Total Assets $ 7,897,836 $ 36,080,135 $ 7,128,711 $ 51,106,682
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable $ 1,028,347 $ 45,767 $ 66,962 $ 1,141,076
Other payables and accruals 414,239 - 58,462 472,701
Retainage payable - - 188,551 188,551
Due to other funds - -- 15,085 15,085
Intergovernmental payable 138,874 - -- 138,874
Deferred revenue 198,606 -- 61,090 259,696
Total Liabilities 1,780,066 45,767 390,150 2,215,983
Fund balances:
Reserved for:
Inventory 72,891 -- -- 72,891
Prepaids 120,900 -- 8,388 129,288
Debt service -- - 1,184,754 1,184,754
Unreserved, reported in:
General fund, undesignated 5,923,979 -- - 5,923,979
Special revenue funds - - 1,619,655 1,619,655
Capital projects funds -- 36,034,368 3,925,764 39,960,132
Total fund balances 6,117,770 36,034,368 6,738,561 48,890,699
Total Liabilities and Fund Balances $ 7,897,836 $ 36,080,135 $ 7,128,711 $ 51,106,682
The accompanying notes are an integral part of this statement.
28
EXHIBIT A-4
CITY OF WYLIE, TEXAS
RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET
TO THE STATEMENT OF NET ASSETS
SEPTEMBER 30, 2006
Total fund balances-governmental funds balance sheet $ 48,890,699
Amounts reported for governmental activities in the statement of net assets
("SNA")are different because:
Capital assets used in governmental activities are not reported in the funds. 106,000,474
Property taxes receivable unavailable to pay for current period expenditures are deferred in the funds. 232,844
The assets and liabilities of internal service funds are included in governmental activities in the SNA. 3,756,950
Payables for bond principal which are not due in the current period are not reported in the funds. (62,142,930)
Payables for bond interest which are not due in the current period are not reported in the funds. (1,014,614)
Payables for compensated absences which are not due in the current period are not reported in the funds. (173,612)
Other long-term assets are not available to pay for current-period expenditures and are deferred in the funds. 495,786
Franchise taxes receivable unavailable to pay for current period expenditures are not accrued in the funds. 753,490
Net assets of governmental activities-statement of net assets $ 96,799,087
The accompanying notes are an integral part of this statement.
29
EXHIBIT A-5
CITY OF WYLIE, TEXAS
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCES-GOVERNMENTAL FUNDS -
FOR THE YEAR ENDED SEPTEMBER 30, 2006
2006 Other Total
General General Governmental Governmental
Fund Obligation Funds Funds
Revenues:
Ad valorem taxes $ 9,067,559 $ - $ 2,140,194 $ 11,207,753
Sales taxes 2,210,030 - 1,098,725 3,308,755
Franchise fees 1,893,383 -- - 1,893,383
Licenses and permits 1,319,956 - - 1,319,956
Intergovernmental 443,124 - -- 443,124
Services fees 1,776,219 - 545,811 2,322,030
Court fees 617,288 - - 617,288
Interest income 325,587 755,136 325,839 1,406,562
Miscellaneous income 174,717 - 684,552 859,269
Total revenues 17,827,863 755,136 4,795,121 23,378,120
Expenditures:
Current:
General government 4,029,476 45,768 -- 4,075,244
Public Safety 7,715,837 -- 1,176,250 8,892,087
Urban development 859,697 - - 859,697
Streets 1,548,675 -- - 1,548,675
Community service 1,972,020 - 817,492 2,789,512
Capital outlay -- - 2,190,857 2,190,857
Debt service:
Principal 122,303 -- 1,431,704 1,554,007
Interest and fiscal charges 17,122 300 1,091,835 1,109,257
Bond issuance costs -- 149,831 4,586 _ 154,417
Total expenditures 16,265,130 195,899 6,712,724 23,173,753
Excess(deficiency)of revenues
over (under)expenditures 1,562,733 559,237 (1,917,603) 204,367
Other financing sources(uses):
Transfers in 427,000 - 866,280 1,293,280
Transfers out (365,026) - (1,181,023) (1,546,049)
Issuance of long-term debt - 35,274,434 954,566 36,229,000
Premium on bonds issued - 200,697 - 200,697
Total other financing sources(uses) 61,974 35,475,131 639,823 36,176,928
Net change in fund balances 1,624,707 36,034,368 (1,277,780) 36,381,295
Fund balances, October 1 4,493,063 - 8,016,341 12,509,404
Fund balances, September 30 $ 6,117,770 $ 36,034,368 $ 6,738,561 $ 48,890,699
The accompanying notes are an integral part of this statement.
30
EXHIBIT A-6
CITY OF WYLIE, TEXAS
RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
TO THE STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED SEPTEMBER 30, 2006
Net change in fund balances-total governmental funds $ 36,381,295
Amounts reported for governmental activities in the statement of activities
("SOA")are different because:
Capital outlays are not reported as expenses in the SOA. 3,943,594
The depreciation of capital assets used in governmental activities is not reported in the funds. (3,673,516)
Donations of capital assets increase net assets in the SOA but not in the funds. 8,025,212
Certain property tax revenues are deferred in the funds.This is the change in these amounts this year. 24,919
Expenses not requiring the use of current financial resources are not reported as expenditures in the funds. (15,138)
Repayment of bond principal is an expenditure in the funds but is not an expense in the SOA. 1,554,008
Repayment of capital lease principal is an expenditure in the funds but is not an expense in the SOA. 16,097
Bond issuance costs and similar items are amortized in the SOA but not in the funds (34,776)
(Increase)decrease in accrued interest from beginning of period to end of period (642,098)
The net revenue (expense)of internal service funds is reported with governmental activities. 846,495
Compensated absences are reported as the amount earned in the SOA but as the amount paid in the funds. (70,136)
Certain fine revenues are deferred in the funds.This is the change in these amounts this year. 7,134
Revenues in the SOA for franchise taxes not providing current financial resources are not reported in the funds. 48,422
Proceeds of bonds do not provide revenue in the SOA,but are reported as current resources in the funds. (36,074,582)
Bond premiums are reported in the funds but not in the SOA. (200,699)
Change in net assets of governmental activities-statement of activities $ 10,136,230
The accompanying notes are an integral part of this statement.
31
EXHIBIT A-7
CITY OF WYLIE, TEXAS
STATEMENT OF NET ASSETS
PROPRIETARY FUNDS
SEPTEMBER 30, 2006
Nonmajor
Enterprise Internal Service
Fund Fund
Utility Fleet
Fund Replacement
ASSETS
Current Assets:
Cash and cash equivalents $ 150,977 $ 107,698
Investments 5,886,396 1,423,446
Accounts receivables(net of allowances for uncollectibles): 1,492,246 —
Other receivables 45,551 —
Inventories, at cost 47,838 —
Prepaid items 18,579 —
Restricted assets:
Cash and cash equivalents 1,158,980 —
Investments 8,713,330 --
Accounts receivable 3,085,205
Total current assets 20,599,102 1,531,1.44
Deferred charges 128,429
Capital assets:
Land 59,141 —
Buildings 27,888 —
Waterworks system 21,763,816 --
Sewer system 24,729,793 —
Machinery and equipment 509,557 3,778,280
Construction in progress 2,407,582 —
Accumulated depreciation (11,975,337) _ (1,552,474)
Total capital assets(net of accumlated depreciation) 37,522,440 2,225,806
Total noncurrent assets 37,650,869 2,225,806
Total Assets 58,249,971 3,756,950
LIABILITIES
Current liabilities:
Accounts payable 166,564 --
Other payables and accruals 141,115 --
Compensated absences payable 107,388 --
General obligation bonds payable-current 425,556 --
Combination bonds-tax and revenue-current 49,389 --
Revenue bonds payable -current 160,000 —
Accrued interest payable 41,932 —
Liabilities payable from restricted assets:
Accounts payable 461,551 —
Capital leases payable-current 185,000 —
Customer deposits 384,832 --
Total current liabilities 2,123,327 --
Noncurrent liabilities:
General obligation bonds payable 2,800,556 --
Combination bonds-tax and revenue 1,108,321 --
Revenue bonds payable 3,269,551 --
Total noncurrent liabilities 7,178,428 --
Total Liabilities 9,301,755 --
NET ASSETS
Invested in capital assets, net of related debt 30,840,491 —
Restricted for debt service 343,849 —
Restricted for construction 11,582,283
Unrestricted 6,181,593 3,756,950
Total Net Assets $ 48,948,216 $ 3,756,950
The accompanying notes are an integral part of this statement.
32
EXHIBIT A-8
CITY OF WYLIE, TEXAS
STATEMENT OF REVENUES, EXPENSES, AND CHANGES
IN FUND NET ASSETS-PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2006
Nonmajor
Enterprise Internal Service
Fund Fund
Utility Fleet
Fund Replacement
OPERATING REVENUES:
Water $ 4,539,253 $ —
Sewer 3,267,552 —
Sewer pass through 658,084 —
Penalties 113,562 —
Water taps 159,814 —
Sewer taps 29,150 —
Reconnect fees 64,645 —
Department user fees — 406,771
Total Operating Revenues 8,832,060 406,771
OPERATING EXPENSES:
Water purchases 1,422,544 —
Sewer treatment 2,025,670 --
Utility administration 619,312 —
Water department 1,030,370 —
Sewer department 815,579 —
Utility billing 501,891 —
Engineering 390,154 —
Combined services 119,711 —
Other -- 8,770
Depreciation and amortization 1,132,941 410,453
Total Operating Expenses 8,058,172 419,223
Operating Income(Loss) 773,888 (12,452)
NON-OPERATING REVENUES(EXPENSES):
Interest revenue 821,375 56,013
Miscellaneous income 315,330 74,040
Gain (loss)on disposal of capital assets — 28,988
Interest expense (785,782) —
Total Non-operating Revenues(Expenses) 350,923 _ 159,041
Net Income(Loss)before Transfers and Contributions _ 1,124,811 146,589
TRANSFERS AND CAPITAL CONTRIBUTIONS:
Capital contributions 5,148,706 —
Transfers in — 699,906
Transfers out (447,137) --
Change in net assets 5,826,380 846,495
Net assets, October 1 43,121,836 2,910,455
Net assets, September 30 $__ 48,948,216 $ 3,756,950
The accompanying notes are an integral part of this statement.
33
EXHIBIT A-9
CITY OF WYLIE, TEXAS
STATEMENT OF CASH FLOWS Governmental
PROPRIETARY FUNDS Activities _-
FOR THE YEAR ENDED SEPTEMBER 30, 2006 Enterprise Internal Service
Fund _ Fund
Utility Fleet
_ Fund Replacement
Cash Flows from Operating Activities:
Cash Received from Customers $ 9,295,447 $ --
Cash Receipts(Payments)for lnterfund Services to Other Funds -- 480,811
Cash Payments to Employees for Services (1,876,282) —
Cash Payments to Other Suppliers for Goods and Services (4,888,751) (8,770)
Net Cash Provided(Used) by Operating Activities 2,530,414 472,041
Cash Flows from Non-capital Financing Activities:
Transfers From Other Funds -- 699,906
Transfers To Other Funds (477,137) —
Net Cash Provided(Used) by Non-capital Financing Activities (477,137) 699,906
Cash Flows from Capital and Related Financing Activities:
Proceeds from capital debt 1,206,000 —
Principal and interest paid (1,625,398) —
Acquisition or Construction of Capital Assets (3,705,503) (1,042,053)
Gain from Disposal of Capital Assets -- 28,988
Capital contributions 1,794,525 _Net Cash Provided(Used)for Capital&Related Financing Activities (2,330,376) (1,013,065)
Cash Flows from Investing Activities:
Interest and Dividends on Investments 821,375 56,013
Net Cash Provided(Used)for Investing Activities 821,375 56,013
Net Increase(Decrease) in Cash and Cash Equivalents 544,276 214,895
Cash and Cash Equivalents at Beginning of Year 15,365,407 1,316,249
Cash and Cash Equivalents at End of Year $__ 15,909,683 $ 1,531,144
Reconciliation to Balance Sheet:
Cash $ 150,977 107,698
Cash Equivalents in Investments 5,886,396 1,423,446
Restricted Cash 1,158,980 --
Restricted Cash Equivalents in Restricted Investments 8,713,330 --
$ 15,909,683 $ 1,531,144
Reconciliation of Operating Income to Net Cash
Provided by Operating Activities:
Operating Income(Loss) $ 773,888 $ (12,452)
Adjustments to Reconcile Operating Income to Net Cash
Provided by Operating Activities
Depreciation and amortization 1,132,941 410,453
Miscellaneous Income 315,330 74,040
Change in Assets and Liabilities:
Decrease(Increase)in Receivables 22,271 --
Decrease(Increase)in Due from Other Governments 237,296 —
Decrease(Increase)in Inventories (8,944) —
Decrease(Increase)in Prepaids (18,579) —
Decrease(Increase)in Restricted Receivables 103,644 —
Increase(Decrease)in Accounts Payable 31,286 --
Increase(Decrease)in Other Payables and Accruals 41,877 --
Increase(Decrease)in Compensated Absences (1,475) --
Increase(Decrease)in Customer Deposits (215,154) --
Increase(Decrease)in Accounts Payable from Restricted Assets 116,033 —
Total Adjustments 1,756,526 484,493
Net Cash Provided (Used)by Operating Activities $ 2,530,414 $ 472,041
Noncash Items:
Developer Contributions of Capital Assets $ 3,354,181 $
The accompanying notes are an integral part of this statement.
34
CITY OF WYLIE, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
Year Ended September 30,2006
I. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A. Reporting Entity
The City of Wylie, Texas, was incorporated in 1887 and operates under the Council-Manager form of
government as a duly incorporated home rule city as authorized under the Constitution of the State of Texas,
and provides the following services: public safety(police and fire),streets,water,sewer and sanitation,public
improvements, planning and zoning, cultural, and general administrative services.
The accounting policies of the City of Wylie,Texas,conform to generally accepted accounting principals issued
by the Governmental Accounting Standards Board which is the recognized financial accounting standard
setting body for governmental entities.The notes to the financial statements are an integral part of the City's
basic financial statements.
The City of Wylie is a home rule municipality governed by an elected mayor and a six member City Council who
appoint a City Manager. The City's (primary government)financial statements include its component units.
The accompanying basic financial statements comply with the provisions of the GASB Statement No.14,"The
Financial Reporting Entity,"in that the financial statements include all organizations, activities,functions and
component units for which the City (the "primary government") is financially accountable. Financial
accountability is defined as the appointment of a voting majority of a legally separate organization's governing
body and either (1) the City's ability to impose its will over the organization, or (2) the potential that the
organization will provide a financial benefit to or impose a financial burden on the City.
Blended Component Unit
The Wylie Park and Recreation Facilities Development Corporation (the 4B Corporation) is presented in the
basicfinancial statements as a blended component unit. A voting majority of the 4B Corporation board is made
up of City Council members. All members of the corporation other than the board are City employees. The
City Manager is the chief executive operating officer of the 4B Corporation. The purpose of the 4B Corporation,
which is financed with a voter approved half-cent sales tax,is to promote economic development within the City
through the construction of park and recreation facilities. The 4B Corporation has a September 30 year end.
The 4B Corporation's financial, budget,treasury,and personnel functions are totally integrated with the City.
All of the 4B Corporation's financial information is presented in the basic and combining financial statements,
along with the notes to these financial statements. The 4B Corporation does not issue separate financial
statements.
Discretely Presented Component Unit
The Wylie Economic Development Corporation (WEDC) is a discretely presented component unit in the
combined financial statements. The governing board of the WEDC is appointed by the City Council and the
WEDC's operating budget is subject to approval of the City Council. The purpose of the WEDC, which is
financed with a voter approved half-cent City sales tax, is to aid, promote and further the economic
development within the City. The WEDC is presented as a government fund type and has a September 30 year
end. Under a contract,the financial,budget,treasury,and personnel functions of the WEDC are integrated with
the City. All of WEDC's financial information is presented in the combined and combining financial statements,
along with the notes to these financial statements. WEDC does not issue separate financial statements.
35
CITY OF WYLIE, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
Year Ended September 30,2006
B. Government-wide and Fund Financial Statements
The government-wide financial statements(i.e.the statement of net assets and the statement of changes in net
assets) report information on all of the nonfiduciary activities of the primary government and its component
units. For the most part,the effect of interfund activity has been removed from these statements. Governmental
activities,which normally are supported by taxes and intergovernmental revenues,are reported separately from
business-type activities, which rely, to a significant extent, on fees and charges for support. Likewise,the
primary government is reported separately from certain legally separate component units for which the primary
government is financially accountable.
The statement of activities demonstrates the degree to which the direct expenses of a given function or segment
are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function
or segment. Program revenues include 1)charges to customers or applicants who purchase,use,or directly
benefit from goods, services, or privileges provided by a given function or segment and 2) grants and
contributions that are restricted to meeting the operational or capital requirements of a particular function or
segment. Taxes and other items not properly included among program revenues are reported instead as
general revenues.
Separate financial statements are provided for governmental funds,proprietary funds,and fiduciary funds,even
though the latter are excluded from the government-wide financial statements. Major individual enterprise funds
are reported as separate columns in the fund financial statements.
C. Measurement Focus, Basis of Accounting, and Financial Statement Presentation
The government-wide financial statements are reported using the economic resources measurement focus and
the accrual basis of accounting,as are the proprietary fund and fiduciary fund financial statements. Revenues
are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of
related cash flows. Property taxes are recognized as revenues in the year for which they are levied. Grants and
similar items are recognized as revenue as soon as all eligibility requirements imposed by the provider have
been met.
Governmental fund financial statements are reported using the current financial resources measurement focus
and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable
and available. Revenues are considered to be available when they are collectible within the current period or
soon enough thereafter to pay liabilities of the current period. For this purpose,the City considers revenues
to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures generally
are recorded when a liability is incurred,as under accrual accounting. However, debt service expenditures,
as well as expenditures related to compensated absences and claims and judgments,are recorded only when
payment is due.
Property taxes and interest associated with the current fiscal period are all considered to be susceptible to
accrual and so have been recognized as revenues of the current fiscal period. Sales taxes collected and held
by the State and merchants at year end on behalf of the City are also recognized as revenue. Franchise taxes,
fines and permits,and miscellaneous revenues are not susceptible to accrual because generally they are not
measurable until received in cash.
The City reports the following major governmental funds:
The General Fund is the City's primary operating fund. It accounts for all financial resources of the general
government, except those required to be accounted for in another fund.
The 2006 General Obligations Capital Projects Fund accounts for the construction of the new city hall,
recreation center and library. This fund also accounts for the construction of some of the City's new
streets,sidewalks,and parks.
36
CITY OF WYLIE, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
Year Ended September 30, 2006
The City reports the following major proprietary fund:
The Utility Fund operates the water distribution system and the wastewater treatment plants,wastewater
pumping stations, and collection systems.
Additionally,the City reports the following fund types:
The Special Revenue Funds account for specific revenue sources that are legally restricted to expenditures
for specified purposes(not including expendable trusts or major capital projects).
The 4B Sales Tax Revenue Fund-accounts for sales tax monies specifically designated for promoting
economic development within the City by developing,implementing, providing, and financing park
and recreation projects.
Parks Acquisition and Improvement Fund-accounts for the development and improvement of City
parks.
Emergency Communications Fund-accounts for the operations of the 911 dispatch services of the
police and fire departments.
Fire Training Center-accounts for First Responder fees specifically designated for the construction
of the Fire Training Center.
Debt Service Funds account for the accumulation of resources to be used for the payment of principal and
interest.
The General Obligation Debt Service Fund accounts for the resources accumulated and payments
made for principal and interest on long-term general obligation debt of governmental funds.
4B Debt Service 1996 Fund-accounts for the accumulation of resources to be used for the payment
of principal and interest on the 4B Sales Tax Revenue Bonds-Series 1996.
4B Debt Service 2005 Fund-accounts for the accumulation of resources to be used for the payment
of principal and interest on the 4B Sales Tax Revenue Bonds-Series 2005.
Capital Projects Funds are used to account for acquisition and construction of major capital facilities(other
than those accounted for within the City's proprietary fund). Capital projects are funded primarily by
general obligation bonds.
The Street Construction Capital Projects Fund accounts for the construction of streets and sidewalks.
Street Perimeter -accounts for construction of perimeter streets, curbs and gutters that border new
subdivisions. Fees collected from developers are the primary means of financing this fund.
Parks Construction-accounts for the development and construction of parks.
The 2005 Public Property Financial Contractual Obligations Capital Projects Fund accounts for the
purchase of certain capital equipment, including radio read meters,a radio system,and a Quint fire
truck.
Internal Service Fund accounts for financial resources set aside annually to replace equipment as its useful
life is consumed.
Private-sector standards of accounting and financial reporting issued prior to December 1, 1989,generally are
followed in both the government-wide and proprietary fund financial statements to the extent that those
standards do not conflict with or contradict guidance of the Governmental Accounting Standards Board.
37
CITY OF WYLIE, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
Year Ended September 30,2006
Governments also have the option of following subsequent private-sector guidance for their business-type
activities and enterprise funds,subject to this same limitation. The City has elected not to follow subsequent
private-sector guidance.
As a general rule the effect of interfund activity has been eliminated from the government-wide financial
statements. Exceptions to this general rule are payments-in-lieu of taxes and other charges between the City's
water and wastewater function and various other functions of the City. Elimination of these charges would
distort the direct costs and program revenues reported for the various functions concerned.
Amounts reported as program revenues include 1)charges to customers or applicants for goods,services,or
privileges provided,2)operating grants and contributions,and 3)capital grants and contributions,including
special assessments. Internally dedicated resources are reported as general revenues rather than as program
revenues.Likewise,general revenues include all taxes, miscellaneous revenue, and interest income.
Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues
and expenses generally result from providing services and producing and delivering goods in connection with
a proprietary fund's principal ongoing operations. The principal operating revenues of the Water and Sewer
enterprise fund are charges to customers for sales and services. The enterprise utility fund also recognizes as
operating revenue the portion of tap fees intended to recover the cost of connecting new customers to the
system. Operating expenses for the enterprise fund include the cost of sales and services, administrative
expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are
reported as nonoperating revenues and expenses.
D. Assets, liabilities,and net assets or equity
1. Deposits and investments
The City's cash and cash equivalents are considered to be cash on hand,demand deposits,and short-term
investments with original maturities of three months or less from the date of acquisition.
State statutes authorize the City to invest in (1) obligations of the United States or its agencies and
instrumentalities; (2) direct obligations of the State of Texas or its agencies; (3) other obligations, the
principal of and interest on which are unconditionally guaranteed or insured by the State of Texas or the
United States; (4)obligations of states,agencies,counties,cities,and other political subdivisions of any
state having been rated as to investment quality by a nationally recognized investment rating firm and
having received a rating of not less than A or its equivalent; (5)certificates of deposit by state and national
banks domiciled in this state that are (A) guaranteed or insured by the Federal Deposit Insurance
Corporation, or its successor; or, (B) secured by obligations that are described by(1)-(4); or, (6)fully
collateralized direct repurchase agreements having a defined termination date, secured by obligations
described by(1),pledged with third party selected or approved by the City,and placed through a primary
government securities dealer.
Investments maturing within one year of date of purchase are stated at cost or amortized cost, all other
investments are stated at fair value which is based on quoted market prices.
2. Receivables and payables
Activity between funds that are representative of lending/borrowing arrangements outstanding at the end
of the fiscal year are referred to as either"due to/from other funds" (i.e.,the current portion of inter fund
loans) or "advances to/from other funds" (i.e., the non-current portion of interfund loans). All other
outstanding balances between funds are reported as"due to/from other funds." Any residual balances
outstanding between the governmental activities and business-type activities are reported in the
government-wide financial statements as"internal balances."
38
CITY OF WYLIE, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
Year Ended September 30,2006
Advances between funds,as reported in the fund financial statements,are offset by a fund balance reserve
account in applicable governmental funds to indicate that they are not available for appropriation and are
not expendable available financial resources.
All trade receivables are shown net of an allowance for uncollectibles. Trade accounts receivable in excess
of 60 days comprise the trade accounts receivable allowance for uncollectibles.
Property taxes are levied on October 1 by the City based on the January 1 property values as assessed
by the Collin County Central Appraisal District. Taxes are due without penalty until January 31,of the next
calendar year. After January 31 the City has an enforceable lien with respect to both real and personal
property. Under state law, property taxes levied on real property constitute a perpetual lien on the real
property which cannot be forgiven without specific approval of the State Legislature. Taxes applicable to
personal property can be deemed uncollectible by the City.
3. Inventories and prepaid items
All inventories are valued at cost using the first-in/first-out (FIFO) method. Inventories of governmental
funds are recorded as expenditures when consumed rather than when purchased.
Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as
prepaid items in both government-wide and fund financial statements.
4. Restricted assets
Certain proceeds of enterprise fund revenue bonds and resources set aside for their repayment and
contractually obligated assets are classified as restricted assets on the balance sheet because their use
is limited by applicable bond covenants or contractual agreements.
5. Capital assets
Capital assets,which include property,plant,equipment,and infrastructure assets(e.g.,roads,bridges,
sidewalks, and similar items), are reported in the applicable governmental or business-type activities
columns in the government-wide financial statements. Capital assets are defined by the City as assets with
an initial,individual cost of more than$5,000(amount not rounded)and an estimated useful life in excess
of two years. Such assets are recorded at historical cost or estimated historical cost if purchased or
constructed.Donated capital assets are recorded at estimated fair market value at the date of donation.
The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend
assets lives are not capitalized.
Major outlays for capital assets and improvements are capitalized as projects are constructed. Interest
incurred during the construction phase of capital assets of business-type activities is included as part of
the capitalized value of the assets constructed.
Property,plant,and equipment of the primary government,as well as the component units,is depreciated
using the straight line method over the following estimated useful lives:
Buildings 20-30 years
Improvements other than buildings 20-50 years
Machinery and Equipment 3-10 years
6. Compensated absences
It is the City's policy to permit employees to accumulate earned but unused vacation and sick pay benefits.
A percentage of accrued sick leave is payable on a longevity basis at the time of termination. All vacation
and sick leave is accrued when incurred in the government-wide and proprietary fund financial statements.
39
CITY OF WYLIE, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
Year Ended September 30, 2006
A liability for these amounts is reported in governmental funds only if they have matured,for example,as
a result of employee resignations and retirements.
7. Long-term obligations
In the government-wide financial statements,and proprietary fund type in the fund financial statements,
long-term debt and other long-term obligations are reported as liabilities in the applicable governmental
activities,business-type activities,or proprietary fund type statement of net assets. Bond premiums and
discounts, as well as issuance costs, are deferred and amortized over the life of the bonds using the
straight line method which approximate the effective interest method. Bonds payable are reported net of
the applicable bond premium or discount. Bond issuance costs are reported as deferred charges and
amortized over the term of the related debt.
In the fund financial statements,governmental fund types recognize bond premiums and discounts,as well
as bond issuance costs,during the current period. The face amount of debt issued is reported as other
financing sources. Premiums received on debt issuances are reported as other financing sources while
discounts on debt issuances are reported as other financing uses. Issuance costs,whether or not withheld
from the actual debt proceeds received, are reported as debt service expenditures.
8. Fund equity
In the fund financial statements,governmental funds report reservations of fund balance for amounts that
are not available for appropriation or are legally restricted by outside parties for use for a specific purpose.
Designations of fund balance represent tentative management plans that are subject to change.
II. RECONCILIATION OF GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS
A. Explanation of certain differences between the governmental fund balance sheet and the government-wide
statement of net assets:
The governmental fund balance sheet includes a reconciliation between fund balance-total governmental funds
and net assets-governmental activities as reported in the government-wide statement of net assets. One
element of that reconciliation explains that"Other long-term assets are not available to pay for current-period
expenditures and are deferred in the funds." The details of this$495,786 difference are as follows:
Bonds issuance costs:
City $495,786
B. Explanation of certain differences between the governmental fund statement of revenues, expenditures,and
changes in fund balances and the government-wide statement of activities:
The governmental fund statement of revenues, expenditures, and changes in fund balances includes a
reconciliation between net changes in fund balances-total governmental funds and changes in net assets of
governmental activities as reported in the government-wide statement of activities. One element of that
reconciliation explains that"Revenues in the Statement of Activities not providing current financial resources
are not reported as revenues in the funds." The details of this$15,138 difference are as follows:
Contribution to internal service fund $10,855
Other 4,283
$15,138
40
CITY OF WYLIE, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
Year Ended September 30,2006
III. DETAILED NOTES ON ALL FUNDS
A. Deposits and investments
Cash
At year end,the carrying amount of the City's cash on hand and deposits was$4,903,472(including restricted
cash of$1,158,980). All of the bank balance was covered by federal deposit insurance and collateralized by
the pledging financial institution's trust department in the City's name.
Under a contractual agreement with North Texas Municipal Water Department(NTMWD),depository accounts
are maintained by NTMWD for interest sinking, debt and construction reserves totaling $206,000 which are
separately insured or secured by collateral pledged by NTMWD's depository. This$206,000 is included in
restricted cash on the statement of net assets.
The carrying amount of deposits for WEDC, the discretely presented components unit, was $26,935. The
component units' cash balances are covered by the City's depository contract and therefore, all of the bank
balance in the City's depository was covered by federal deposit insurance and collateral pledged by the
depository in the City's name and by the City's agent.
Investments
As of September 30, 2006,the City and discrete component unit had the following investments:
Fair Years to
Investment type Value Maturity
Primary Government:
Government sponsored investment pool (TexPool) $61,670,001 N/A
Government sponsored investment pool (LOGIC) 309,900 N/A
61,979,901
Discrete Component Unit
Government sponsored investment pool (TexPool) 358,949 N/A
Government sponsored investment pool (LOGIC) 1,804 N/A
360,753
Total Fair Value $62,340,654
Interest Rate Risk. In accordance with its investment policy,the City manages its exposure to declines in fair
value by limiting the weighted average maturity of its portfolio to less than three years.
Credit Risk. State law limits investments as described previously in Note I D.
Concentration of Credit Risk. The City's investment policy does not allow for an investment in any one issuer
(other than investment pools) that is in excess of five percent of the fair value of the City's total investments.
Custodial Credit Risk-Deposits. In the case of deposits,this is the risk that in the event of a bank failure,the
City's deposits may not be returned to it. The City requires all deposits to be covered by Federal Depository
Insurance Corporation (FDIC) insurance and/or collateralized by qualified securities pledged by the City's
depository in the City's name and held by the depository's agent.
41
CITY OF WYLIE, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
Year Ended September 30,2006
Custodial Credit Risk-Investments. For an investment, this is the risk that, in the event of the failure of the
counterparty,the City or Discrete Component Unit will not be able to recover the value of its investments or
collateral securities that are in the possession of an outside party.
The Texas State Comptroller of Public Accounts exercises oversight responsibility over the Texas Local
Government Investment Pool ("TexPool"). Oversight includes the ability to significantly influence operations,
designation of management and accountability for fiscal matters. Additionally, the State Comptroller has
established an advisory board composed both of participants in TexPool and of other persons who do not have
a business relationship with TexPool. The advisory Board members review the investment policy and
management fee structure. Finally,TexPool is rated AAA by Standard and Poors. TexPool operates in a manner
consistent with the Security and Exchange Commission's Rule 2a-7 of the Investment Company Act of 1940.
As such,TexPool uses amortized cost to report net assets and share prices since that amount approximates fair
value.
Local Government Investment Cooperative(LOGIC)operates in a manner consistent with the SEC's Rule 2a-7
of the Investment Company Act of 1940,to the extent such rule is applicable to its operations. Accordingly,
LOGIC uses the amortized cost method permitted by SEC Rule 2a-7 to report net assets and share prices since
that amount approximates fair value.The investment activities of LOGIC are administered by third party advisors.
There is no regulatory oversight by the State of Texas over LOGIC.
B. Receivables
Receivables as of year-end for the governments individual major funds and nonmajor,and fiduciary funds in the
aggregate, including the applicable allowances for uncollectible accounts,are as follows:
2006
General Water and Nonmajor
General Obligation Sewer and Other Total
Taxes receivable $290,537 $ — $ — $82,492 $373,029
Allowance for uncollectibles (58,107) — — (16,498) (74,605)
$232,430 $ — $ — $65,994 $298,424
Accounts receivable $269,738 $ -- $1,888,008 $ — $2,157,746
Allowance for uncollectibles (79,614) — (395,762) -- (475,376)
Net accounts receivable $190,124 $ — $1,492,246 $ -- $1,682,370
Other receivables $519,555 $ — $ — $72,372 $591,927
Allowance for uncollectibles (212,113) -- — (33,271) (245,384)
Net other receivables $307,442 $ — $ -- $39,101 $346,543
Intergovernmental $410,537 $ — $ — $201,244 $611,781
Revenues of the Water and Sewer Fund are reported net of uncollectible amounts. Total uncollectible amounts
related to revenues of the current period were$78,465.
Receivables in the discrete component unit consist of$201,244 sales tax receivable due from the state, and
$147,648 in loans to private businesses. If certain contractual obligations are met by some of these private
businesses at a future date, a portion and/or all of the amounts owed may be forgiven.
Governmental funds report deferred revenue in connection with receivables for revenues that are not considered
to be available to liquidate liabilities of the current period.Governmental funds also defer revenue recognition
42
CITY OF WYLIE, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
Year Ended September 30,2006
in connection with resources that have been received,but not yet earned.At the end of the current fiscal year,
the various components of deferred revenue and unearned revenue reported in the governmental funds were
as follows:
Unavailable Unearned
Delinquent property taxes receivable (General Fund) $171,754 $ --
Court fines (General Fund) 26,852 --
Delinquent property taxes receivable (Debt Service Fund) 61,090 --
Total deferred/unearned revenue for governmental funds $259,696 $ --
The unearned revenue in the discrete component unit results from installment sales of land to local businesses,
and is being recognized as the loans financing the sale are collected.
C. Capital assets
Capital asset activity for the year ended September 30,2006:
Primary Government
Balance Completed Balance
9/30/05 Additions Retirements Construction 9/30/06
GOVERNMENTAL ACTIVITIES:
Capital assets,not being depreciated:
Land $21,199,312 $1,782,859 $ — $2,075,681 $25,057,852
Construction in progress 9,371,981 568,407 — (9,322,370) 618,018
Total capital assets not being depreciated 30,571,293 2,351,266 — (7,246,689) 25,675,870
Capital assets,being depreciated:
Buildings 4,426,402 — — — 4,426,402
Improvements other than buildings 86,613,656 8,863,904 — 7,246,689 102,724,249
Machinery and equipment 7,455,712 1,776,301 (193,861) -- 9,038,152
Total capital assets being depreciated 98,495,770 10,640,205 (193,861) — 116,188,803
Less accumulated depreciation for:
Buildings (1,646,978) (130,350) -- -- (1,777,328)
Improvements other than buildings (23,141,709) (3,260,381) — — (26,402,090)
Machinery and equipment (4,904,946) (693,238) 139,209 — (5,458,975)
Total accumulated depreciation (29,693,633) (4,083,969) 139,209 — (33,638,393)
Total capital assets being depreciated,net 68,802,137 6,556,236 (54,652) -- 82,550,410
Governmental activities capital assets,net $99,373,430 $8,907,502 ($54,652) $ — $108,226,280
43
CITY OF WYLIE, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
Year Ended September 30,2006
Balance Completed Balance
9/30/05 Additions Retirements Construction 9/30/06
BUSINESS-TYPE ACTIVITIES:
Capital assets,not being depreciated: .
Land $59,141 $ - $ - $ -- $59,141
Construction in progress 602,130 1,805,452 - - 2,407,582
Total capital assets not being depreciated 661,271 1,805,452 - - 2,466,723
Capital assets,being depreciated:
Buildings 27,888 - - -- 27,888
Water system 18,039,272 3,724,543 -- -- 21,763,815
Sewer system 23,219,018 1,510,775 -- -- 24,729,793
Machinery and equipment 490,644 18,913 -- -- 509,557
Total capital assets being depreciated 41,776,822 5,254,231 -- - 47,031,053
Less accumulated depreciation for:
Buildings (21,529) (520) - - (22,049)
Water system (4,707,024) (503,441) -- - (5,210,465)
Sewer system (5,723,332) (585,968) - - (6,309,300)
Machinery and equipment (398,360) (35,162) - - (433,522)
Total accumulated depreciation (10,850,245) (1,125,091) -- -- (11,975,336)
Capital assets being depreciated,net 30,926,577 4,129,140 -- - 35,055,717
Business type activities capital assets,net $31,587,848 $5,934,592 $ - $ - $37,522,440
Depreciation expense was charged to functions/programs of the primary government as follows:
Governmental activities:
General government $525,557
Public safety 165,449
Urban development 13,828
Streets 3,050,522
Community service 328.613
Total depreciation expense-governmental activities $4,083,969
Business-type activities:
Water and sewer $1,125,091
44
CITY OF WYLIE, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
Year Ended September 30, 2006
Construction commitments
The City has active construction projects as of September 30,2006. The projects include street construction,
park improvements,and drainage improvements.
Remaining
Project Spent to Date Commitment
Design of city hall, library, recreation center $45,767 $464,233
Creekside elevated tank storage 1,776,093 982,907
$1,821,860 $1,447,140
The design of the city hall, library, and recreation center are being financed by bond proceeds. The
commitment for the elevated tank storage is being financed by impact fees and current revenues.
Discretely presented component unit-Wylie Economic Development Corporation:
Balance Completed Balance
9/30/05 Additions Retirements Construction 9/30/06
Capital assets,not being depreciated:
Construction in progress 325,307 $ -- (325,307) $ - $ -
Capital assets,being depreciated:
Buildings - -- - -
Improvements other than buildings -- -- --
Machinery and equipment - - -
Total capital assets being depreciated - - -
Less accumulated depreciation for:
--
Improvements other than buildings - -- -
Machinery and equipment - - - -
Total accumulated depreciation - -- -
Total capital assets being depreciated,net - - -
$325,307 $ -- ($325,307) $ - $ -
45
CITY OF WYLIE, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
Year Ended September 30,2006
D. Interfund receivables, payables, and transfers
The composition of interfund balances as of September 30,2006, is as follows:
Interfund Receivable/Payable
Fund Receivable Payable
Major Governmental Funds
General Fund $13,247 $ --
Total Major Governmental Funds 13,247 --
Nonmajor Governmental Funds
General Obligation Debt Service 1,838 --
4B Sales Tax Revenue -- 13,247
4B Debt Service 2005 1,838
Total Nonmajor Governmental Funds 1,838 15,085
Totals $15,085 $15,085
Interfund receivables and payables arise from overdrafts in pooled cash and pooled investments.
Interfund transfers:
Fund Transfer In Transfer Out
Major Governmental Funds
General Fund $427,000 $365,026
Total Major Governmental Funds 427,000 365,026
Nonmajor Governmental Funds
Emergency Communication 260,000 --
4B Sales Tax Revenue -- 606,280
Fire Truck Training center -- 7,000
2005 Public Property Financial CO's -- 567,743
4B Debt Service 2005 606,280 --
Total Nonmajor governmental funds 866,280 1,181,023
Water Utility Fund -- 447,137
Internal Service Funds 699,906 --
Totals $1,993,186 $1,993,186
Interfund transfers provide funds for debt service,contributions for capital construction,cost allocations and
other operational costs as determined by the annual budget.
46
CITY OF WYLIE, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
Year Ended September 30,2006
E. Long-term debt
The City of Wylie issues general obligation bonds,certificates of obligation bonds,contractual obligation
bonds and notes to provide funds for the acquisition and construction of major capital facilities. General
obligation bonds have been issued for both governmental and business-type activities. These issues are
direct obligations and pledge the full faith and credit of the City.
General Debt Currently Outstanding:
Original Year of Final Interest Balance
Purpose Amount Issue Maturity Rate 9/30/06
General Long-Term Debt Issues
General Obligation Bonds:
Improvements $2,700,000 1/1/97 8/15/17 4.90%-8.75% $1,063,889
Improvements 3,200,000 9/14/99 2/15/19 5.00%-6.50% 2,445,000
Improvements 2,000,000 8/22/00 2/15/20 5.00%-6.50% 1,615,000
Improvements 4,500,000 9/1/01 2/15/21 4.25%-5.00% 3,780,000
Improvements 2,500,000 9/15/02 2/15/22 3.625%-4.50% 2,170,000
Improvements 1,250,000 9/15/02 2/15/22 2.25%-3.25% 55,000
Improvements and refunding 7,525,000 1/01/05 2/15/25 3.00%-4.50% 7,160,000
Improvements 35,325,000 3/15/06 2/15/27 4.00%-4.50% 35,325,000
Total General Obligation Bonds 53,613,889
Comb.Tax/Revenue Bonds:
Improvements 5,602,500 1/01/05 2/15/25 3.00%-5.00% 5,409,000
Improvements 622,500 1/01/05 2/15/25 3.00%-5.00% 601,000
Total Comb.Tax/Revenue Bonds 6,010,000
Contractual Obligations:
Improvements 904,000 2/01/06 2/01/16 4.55% 841,659
Total General Long-Term Debt 60,465,548
47
CITY OF WYLIE, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
Year Ended September 30,2006
Original Year of Final Interest Balance
Purpose Amount Issue Maturity Rate 9/30/06
Proprietary Debt Issues
General Obligation Bonds:
Improvements $1,200,000 1/01/97 8/15/17 4.90%-8.75% $851,111
Improvements and refunding 2,795,000 1/01/05 2/15/25 3.00%-4.50% 2,375,000
Total General Obligation Bonds 3,226,111
Contractual Obligations:
Improvements 1,206,000 2/01/06 2/01/16 4.55% 1,157,710
Total Proprietary Debt 4,383,821
Total General Debt $64 849 369
Annual debt service requirements to maturity for general debt:
Governmental Activities Business Type Activities
Year Principal Interest Principal Interest Total
2007 $1,393,413 $3,349,573 $525,457 $162,438 $5,430,881
2008 1,814,903 2,615,784 544,499 144,099 5,119,285
2009 1,861,668 2,538,323 488,751 126,111 5,014,853
2010 1,418,007 1,067,439 506,004 109,021 3,100,471
2011 2,514,127 2,385,266 370,710 93,205 5,363,308
2012-2016 15,285,652 9,900,172 1,846,178 211,616 27,243,618
2017-2021 17,217,778 6,253,406 102,222 2,747 23,576,153
2022-2026 16,060,000 2,440,058 -- -- 18,500,058
2027 2,900,000 65,250 — — 2,965,250
Total $60,465,548 $30,615,271 $4,383,821 $849,237 $96,313,877
REVENUE BONDS.The City issues revenue bonds where the City pledges income derived from the acquired
or constructed assets, or sales tax to pay the debt service.
48
CITY OF WYLIE, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
Year Ended September 30, 2006
Revenue bonds outstanding at year end are as follows:
Original Year Final Interest Balance
Purpose Amount Issue Maturity Rate 9/30/06
Sales Tax Revenue Bonds
Improvements $1,710,000 1/1/96 2/15/08 5.35%-5.55% $1,115,000
Improvements
Water and Sewer Revenue Bonds
Improvements 1,380,000 9/14/99 2/15/19 5.40%-6.50% 1,055,000
Improvements 1,720,000 8/22/00 2/15/20 5.13%-6.13% 1,410,000
Improvements 1,150,000 9/15/02 2/15/22 3.55%-5.00% 995,000
Total Water and Sewer Revenue Bonds 3,460,000
Total Revenue Bonds $4,575,000
Annual debt service requirements to maturity for revenue bonds:
Governmental Activities Business Type Activities
Year Principal Interest Principal Interest Total
2007 $80,000 $59,662 $160,000 $173,091 $472,753
2008 90,000 54,945 175,000 163,245 483,190
2009 95,000 4,981 185,000 153,097 438,078
2010 100,000 44,400 195,000 143,010 482,410
2011 105,000 3,871 205,000 132,891 446,762
2012-2016 645,000 93,657 1,225,000 496,421 2,460,078
2017-2021 - -- 1,225,000 152,712 1,377,712
2022-2025 -- -- 90,000 2,070 92,070
Total $1,115,000 $261,516 $3,460,000 $1,416,537 $6,253,053
Capitalized Lease Obligations
Governmental-The City entered into a lease to acquire six tough book laptop computers.
Business-type - The City has entered into a contract with the North Texas Municipal Water District), a
conservation and reclamation district and political subdivision of the state of Texas, for construction and
operation of sewer plants and to provide treated water to the City. The contractual obligations have been treated
as capitalized leases.
49
CITY OF WYLIE, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
Year Ended September 30,2006
Capitalized lease obligations outstanding at year end are as follows:
Original Year Final Interest Balance
Purpose Amount Issue Maturity Rate 9/30/06
Governmental
Computers $48,336 2005 2007 7.51% $16,097
Business-type
Wastewater treatment plant 2,000,000 1988 2006 7.50% $185,000
Capital lease obligation debt service requirements to maturity are as follows:
Year Governmental Business-type
2007 $17,883 $200,077
Less imputed interest (1,786) (15,077)
Total Capital Lease Obligations $16,097 $185,000
CHANGES IN LONG-TERM LIABILITIES
Long-term liability activity for the year ended September 30,2006,was as follows:
Balance Balance Due Within
9/30/05 Additions Retirements 9/30/06 One Year
Governmental activities:
General obligation bonds $19,325,556 $35,325,000 ($1,036,667) $53,613,889 $1,044,444
Combination tax revenue bonds 6,225,000 -- (215,000) 6,010,000 220,000
Certificates of obligation 65,000 -- (65,000) -- --
Contractual obligation -- 904,000 (62,341) 841,659 63,759
Sales tax revenue bond 1,190,000 -- (75,000) 1,115,000 80,000
Unamortized premium(discount) (74,279) 200,697 (1,208) 125,210 —
Deferred loss (gain)on refunding 110,465 -- (17,257) 93,208 --
Total bonds payable 26,841,742 36,429,697 (1,472,473) 61,798,966 1,408,203
Loans payable 100,000 -- (100,000) -- --
Capital lease obligations 33,064 -- (16,097) 16,967 16,967
Compensated absences 430,474 398,511 (328,375) 500,610 326,998
Governmental activity Long-Term Liabilities $27,405,280 $36,828,208 ($1,916,945) $62,316,543 $1,752,168
50
CITY OF WYLIE, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
Year Ended September 30,2006
Balance Balance Due Within
9/30/05 Additions Retirements 9/30/06 One Year
Business-type activities:
General obligation bonds $3,699,444 $ -- ($473,333) $3,226,111 $425,556
Revenue bonds 3,615,000 -- (155,000) 3,460,000 160,000
Contractual obligations -- 1,206,000 (48,290) 1,157,710 49,389
Unamortized premium(discount) 6,115 -- (314) 5,801 --
Deferred loss(gain)on refunding (42,483) 6,233 (36,250) --
Total bonds payable 7,278,076 1,206,000 (670,704) 7,813,372 634,945
Capital lease obligations 355,000 -- (170,000) 185,000 185,000
Compensated absences 108,863 100,780 (102,255) 107,388 70,146
Business-type activities
Long-Term Liabilities $7,741,939 $1,306,780 ($942,959) $8,105,760 $890,091
For the governmental activities,claims and judgements and compensated absences are generally liquidated
by the general fund.The government-wide statement of activities includes$185,000 of capital leases due within
one year for business-type activities in"liabilities payable from restricted assets" on that same statement.
Discretely presented component unit-Wylie Economic Development Corporation:
Loans Payable
$878,372,payable to bank,made August 26,2005,payable in monthly installments of$7,320
through October 26,2015, including interest at 5.75% $797,855
$289,956, payable to bank, made March 1, 2004, payable in monthly installments of$5,741
through March 1,2009, including interest at 7.00%,with a final balloon payment 152,772
$340,000,payable to individual, made July 25,2006,payable in monthly installments of$3,775
through July 25,2016, including interest at 6.00% 335,840
Total loans payable $1,286,467
51
CITY OF WYLIE, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
Year Ended September 30,2006
Annual debt service requirements to maturity for discrete component unit debt is:
Loan Payable to Bank
Year Principal Interest Total
2007 $173,794 $71,796 $245,590
2008 179,733 60,807 240,540
2009 145,185 50,114 195,299
2010 118,770 42,770 161,540
2011 120,678 35,811 156,489
2012-2016 548,306 39,734 588,040
Total $1,286,466 $301,032 $1,587,498
CHANGES IN LONG-TERM LIABILITIES
Long-term liability activity for the year ended September 30, 2006,was as follows:
Balance Balance Due Within
9/30/05 Additions Retirements 9/30/06 One Year
Discrete Component Unit: $
Loans payable $1,087,200 $340,000 ($140,733) $1,286,467 $173,794
Compensated absences 17,122 15,851 (12,149) 20,824 15,038
Long-Term Liabilities $1,104,322 $355,851 ($152,882) $1,307,291 $188,832
V. OTHER INFORMATION
A. Risk management
The City is exposed to various risks of loss related to torts,theft of,damage to,and destruction of assets;errors
and omissions;injuries to employees;employee health benefits;and other claims of various natures. The City
purchases commercial insurance to indemnify it in event of loss. For the past three years,settlements did not
exceed coverage.
B. North Texas Municipal Water District
The District is a conservation and reclamation district and political subdivision of the State of Texas, created
and functioning under Chapter 62,Acts of 1951,52nd Legislature, Regular Session, as amended, originally
compiled as Vernon's Article 8270-141 (the"Act"),pursuant to Article 16,Section 59 of the Texas Constitution.
The District comprises all of the territory of its member cities,viz.,Allen,Garland,Princeton, Plano, Mesquite,
Wylie,Rockwall,Farmersville,McKinney,Richardson,Forney and Royse City(the"Member Cities").The District
was created for the purpose of providing a source of water supply for municipal,domestic and industrial use
and for the treatment processing and transportation of such water to its Member Cites and to its other
customers located in North Central Texas,all within the Dallas Standard Metropolitan Statistical Area.
Under the Act, including specifically Section 27 thereof,and under the Constitution and Statutes of the State
of Texas,the District has broad powers to(1)impound,control,store,preserve,treat,transmit and use storm
and flood water,the water of rivers and streams and underground water,for irrigation, power and all other
useful purposes and to supply water for municipal, domestic, power, industrial and commercial uses and
52
CITY OF WYLIE, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
Year Ended September 30,2006
purposes and all other beneficial uses and purposes;and(2)collect,transport,process,treat,dispose of,and
control all municipal, domestic, industrial or commercial waste whether in fluid, solid or composite state,
including specifically the control,abatement or reduction of all types of pollution.The City retains no ongoing
financial interest equity investments and/or responsibilities for the District other than the contractual
arrangements discussed more fully herein.
The District has long-term contracts with the City to supply treated water and sewer treatment.The City's water
contract with the District provides that the City pay a predetermined annual amount for treated water in twelve
monthly installments. The amount of this annual payment is based upon an annually established rate per
thousand gallons and the largest annual amount of water consumption of past years. The City owns one
sewage treatment facility. In 1988 the City entered into an agreement with the District for improvements to the
treatment facility. Under the terms of this agreement,the District issued contractually secured bonds in the
amount of$2,000,000,bearing interest at rates of approximately 7.75%,with the final payment due in 2007,to
construct and operate this sewage disposal plant for the City. Under terms of the contract which began when
the facilities were first utilized,the City's payments are equal to the operating and maintenance expenses for
the next ensuing fiscal year, as shown in the District's annual budget for the sewage treatment facility. The
contract further provides the debt service payments will be equal to the principal and/or interest coming due
on the bonds on the next succeeding interest payment date,plus the fees and charges of the paying agent and
the registrar, and for the accumulation of funds for a debt service reserve.
These contractual obligations have been included as capital lease obligations in amounts equal to the bonds
outstanding under these agreements. Accordingly,the related sewage treatment facilities have been capitalized
and are being depreciated over the estimated life of the facilities.
Muddy Creek Regional Wastewater System
In May 1999,the Cities of Wylie and Murphy in Collin County entered into a contract with the District to provide
for the acquisition, construction, improvement, operation, and maintenance of the Regional Muddy Creek
Wastewater System(System)for the purpose of providing facilities to adequately receive,transport,treat,and
dispose of wastewater. The District will own the System with Wylie and Murphy as the initial participants. The
District will issue approximately$20 million in bonds to construct this new facility. Budget calculations for
operating cots and debt service for the System on the service commencement date is based on the following
estimated flow ratio:City of Wylie-2/3 and Murphy-1/3. "Service Commencement Date"means the first date
upon which the System is available to treat wastewater from the participants. Wylie's long-term commitment
to the System's debt service component is approximately$13.3 million.
The District will send each participant a letter detailing the annual requirement necessary to operate the System
each year. The annual requirement budget will include an operation and maintenance component and a bond
service component. The budgeting ratio described earlier is only valid for the first year of System operations.
In subsequent years,budgets and year-end audits will be based on actual flow ratios. For example,if the flow
measurements indicate that 60%of the flow is produced by Wylie and 40%by Murphy,then the next year's
operating and debt service components would be allocated using a 60/40 split. If in the future, additional
participants are added,then the flow ratios will be adjusted using the above method.
The contract with the District has a clause for"Credit for Payments Relating to the System. This clause states:
"Each participant shall be entitled to a credit in an amount equal to any funds advanced by such Participant
with the approval of the District for land,engineering,construction or other costs related to the System and/or
the financing thereof". All credits for advances made prior to the Service Commencement Date shall bear
interest from the date of such advance at a rate equal to the net effective interest rate on the initial issue of the
bonds hereunder. The City of Wylie has four such credits at this time. All credits for advances made prior to
the Service Commencement Date shall be amortized over a period of twenty years,with such amortization to
commence on October 1 of the Fiscal Year following the Service Commencement Date. At September 30,
2005,the City had recorded$3,188,849 as a restricted accounts receivable. This amount is being amortized
over a twenty year period commencing with fiscal year 2006. The amortization was$103,644 for 2006.
53
CITY OF WYLIE, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
Year Ended September 30,2006
D. Contingent Liabilities and Commitments
Amounts received or receivable from grantor agencies are subject to audit and adjustment by such agencies.
Any disallowed claims,including amounts already collected may constitute a liability of the applicable funds.
The amounts,if any,of expenditures which may be disallowed by the grantor cannot be determined at this time
although the City expects such amounts, if any,to be immaterial.
The City periodically is defendant in various lawsuits. At September 30,2006,after consultation with the City's
attorney,the City is not aware of any pending litigation.
As described in Note IV E above,the general revenues of the City are contingently liable for the$3,226,111
payable in General Obligation Bonds which are currently outstanding and recorded as obligations of the
Enterprise Fund.
The City contracts for garbage disposal with a third party. Under the terms of the agreement the city bills and
collects the residential billing and remits that amount to the contracting party. The contractor bills the
commercial customers and remits a franchise fee to the City based on total revenues received from the
contract.
The Wylie Economic Development Corporation provides monetary incentives to companies to relocate within
the City of Wylie. At September 30,2006,these commitments totaled$150,000.
E. Employee retirement systems and pension plans
The City participates in the Texas Municipal Retirement System.
Plan Description-The City provides pension benefits for all of its full-time employees through a nontraditional,
joint contributory,hybrid defined benefit plan in the state-wide Texas Municipal Retirement System(TMRS),one
of over 811 administered by TMRS,an agent multiple-employer public employee retirement system. Each of
the 811 municipalities has an annual, individual actuarial valuation performed. All assumptions for the
December 31,2005 valuations are contained in the 2005 TMRS Comprehensive Annual Financial Report which
can be obtained by writing to P.O. Box 149153,Austin,Texas, 78714-9153.
Benefits depend upon the sum of the employee's contributions to the plan,with interest,and the City-financed
monetary credits, with interest. At the date the plan began, the City granted monetary credits for service
rendered before the plan began of a theoretical amount equal to two times what would have been contributed
by the employee,with interest,prior to establishment of the plan. Monetary credits for service since the plan
began are a percent(100%)of the employee's accumulated contributions. In addition,the City can grant as
often as annually another type of monetary credit referred to as an updated service credit which is a theoretical
amount which,when added to the employee's accumulated contributions and the monetary credits for service
since the plan began, would be the total monetary credits and employee contributions accumulated with
interest if the current employee contribution rate and City matching percent had always been in existence and
if the employee's salary had always been the average of his salary in the last three years that are one year
before the effective date. At retirement,the benefit is calculated as if the sum of the employee's accumulated
contributions with interest and the employer-financed monetary credits with interest were used to purchase an
annuity.
54
CITY OF WYLIE, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
Year Ended September 30,2006
The plan provisions are adopted by the governing body of the City,within the options available in the state
statutes governing TMRS and within the actuarial constraints also in the statutes. Plan provisions for the City
were as follows:
Deposit rate:7%
Matching Ratio (City to Employee):2-1
Members can retire at ages 60 and above with 5 or more years of service or with 20 years of service regardless
of age. A member is vested after 5 years.
Contributions-Under the state law governing TMRS,the actuary annually determines the City contribution rate.
The rate consists of the normal cost contribution rate and the prior service contribution rate,both of which are
calculated to be a level percent of payroll from year to year. The normal cost contribution rate finances the
currently accruing monetary credits due to the City matching percent,which are the obligation of the City as
of an employee's retirement date, not at the time the employee's contributions are made. The normal cost
contribution rate is the actuarially determined percent of payroll necessary to satisfy the obligation of the City
to each employee at the time his/her retirement becomes effective. The prior service contribution rate amortizes
the unfunded(overfunded)actuarial liability(asset)over the remainder of the plan's 25-year amortization period.
The unit credit actuarial cost method is used for determining the City contribution rate. Both the employees
and the City make contributions monthly. Since the City needs to know its contribution rate in advance for
budgetary purposes,there is a one-year delay between the actuarial valuation that is the basis for the rate and
the calendar year when the rate goes into effect, i.e. December 31, 2005 valuation is effective for rates
beginning January2007.
Schedule of Actuarial Liabilities and Funding Progress
Actuarial Valuation Date 12/31/05 12/31/04 12/31/03
Actuarial Value of Assets $9,134,898 $7,984,378 $6,827,365
Actuarial Accrued Liabilities 11,288,216 9,649,974 9,400,060
Percentage Funded 80.9% 82.7% 72.6%
Unfunded (Over-funded)Actuarial Accrued Liability(UAAL) 2,153,318 1,665,596 2,572,695
Annual Covered Payroll 8,137,334 7,138,199 6,006,165
UAAL as a Percentage of Covered Payroll 26.5% 23.3% 42.8%
Net Pension Obligation (NPO) at the Beginning of Period — -- --
Annual Pension Cost:
Annual Required Contribution (ARC) 800,429 819,210 603,752
Interest on NPO --
Adjustment to the ARC -- -
800,429 819,210 603,752
Contributions Made (100%) 800,429 819,210 603,752
Increase in NPO --
NPO at the End of Period $ -- $ -- $
55
CITY OF WYLIE, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
Year Ended September 30,2006
Actuarial Assumptions
Actuarial Cost Method Unit Credit
Amortization Method Level Percent of Payroll
Remaining Amortization 25 Years-Open Period
Asset Valuation Method Amortized Cost
Investment Rate of Return 7%
Projected Salary Increases None
Includes Inflation At None
Cost of Living Adjustments None
G. Related Party Transactions
The chairman of the board of directors of the Wylie Economic Development Corporation (WEDC) is the
president of a local bank. During the year ended September 30,2005,WEDC entered into a loan agreement
with this bank for$878,372,payable over a ten year term,with interest rates of 5.75%for the first five years and
6.20%for the next five years. At September 30,2006,the unpaid balance of this loan was$797,855.
H. Condensed Financial Information for Discrete Component Unit
Following is selected condensed financial statement information for the fund basis financial statements of the
Wylie Economic Development Corporation:
Balance Sheet WEDC
Assets
Current assets $2,742,280
Total Assets $2,742,280
Liabilities
Current liabilities $9,978
Deferred revenue 147,648
Total Liabilities 157,626
Fund Balance 2,584,654
Total Liabilities and Fund Balance $2,742,280
56
CITY OF WYLIE, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
Year Ended September 30, 2006
Revenues and Expenditures WEDC
Revenues $1.148.470
Current Expenditures 1,146,594
Debt service 205,430
Total expenditures 1,352,024
Deficiency of revenues under expenditures (203,554)
Other financing sources 340,000
Net change in fund balances 136,446
Fund balance October 1 2,448,208
$2,584,654
Following are reconciliations between the government-wide financial statements and the fund basis financial
statements for WEDC:
Reconciliation of Balance Sheet WEDC
Total fund balance $2,584,654
Capital assets not reported in the funds --
Accrued interest payable (5,197)
Payable for loan principal not due currently (1,286,467)
Payables for compensated absences (23,021)
Net Assets-statement of net assets $1,269,969
Reconciliation of Statement of Revenues,
Expenditures and Fund Balances WEDC
Net change in fund balances $136,446
Proceeds of loan (340,000)
Repayment of loan principal 143,160
Contribution to municipality (355,428)
Other (2,427)
Interest expense 4,004
Change in compensated absences (2,197)
Change in net assets ($416,442)
I. Land Acquisition
The discrete component unit owns property with a carrying value of$1,929,522. This property is held as an
incentive to attract businesses.
57
CITY OF WYLIE, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
Year Ended September 30,2006
J. Restatement
Prior year financial statements have been restated to reflect corrections to the accounts for the following:
1. Debt reserves held by agent were overstated.
2. Capital lease payable was understated
3. Amounts for costs associated with issuance of debt were misstated.
4. Certain capital assets were over stated.
The effect on the financial statements for the year ended September 30,2005 follows:
Utility Enterprise Fund: Assets Liabilities Net Assets
As reported 9/30/05 $52,745,158 $8,861,063 $43,884,095
Restricted cash overstated (663,942) (663,942)
Lease payable understated -- 168,110 (168,110)
Bond issue cost understated 33,424 33,424
Bond premium understated -- 6,115 (6,115)
Deferred loss understated -- (42,484) 42,484
As restated 9/30/05 52,114,640 8,992,804 43,121,836
Government Wide Governmental Type: Assets Liabilities Net Assets
As reported-9/30/05 $116,388,676 $29,763,145 $86,625,531
Record streets not capitalized 73,512 -- 73,512
Bond premium understated -- (74,279) 74,279
Deferred loss understated -- 110,465 (110,465)
As restated -9/30/05 $116,462,188 $29,799,331 $86,662,857
Discrete Component Unit: Assets Liabilities Net Assets
As reported-9/30/05 $3,134,784 $1,519,653 $1,615,131
Defer expense on purchase of land 202,045 -- 202,045
Correct cost of construction in progress 30,120 -- 30,120
Remove commitment-deferred charge (150,000) (150,000) --
Remove street transferred to city (160,885) -- (160,885)
$3,056,064 $1,369,653 $1,686,411
58
•
Required Supplementary Information
Required supplementary information includes financial information and disclosures required by the Governmental
Accounting Standards Board but not considered a part of the basic financial statements.
59
CITY OF WYLIE, TEXAS EXHIBIT B-1
GENERAL FUND Page 1 of 2
BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED SEPTEMBER 30, 2006
Variance with
Final Budget
Budgeted Amounts Positive
Original Final Actual (Negative)
Revenues:
Ad valorem taxes $ 8,951,520 $ 8,951,520 $ 9,067,559 $ 116,039
Non-property taxes 1,849,140 1,849,140 2,210,030 360,890
Franchise fees 1,479,850 1,479,850 1,893,383 413,533
Licenses and permits 1,114,000 1,114,000 1,319,956 205,956
Intergovernmental 305,250 477,720 443,124 (34,596)
Services fees 1,553,200 1,567,200 1,776,219 209,019
Court fees 371,000 371,000 617,288 246,288 ,
Interest income 100,000 100,000 325,587 225,587
Miscellaneous income 85,500 89,540 174,717 85,177
Total revenues 15,809,460 15,999,970 17,827,863 1,827,893
Expenditures:
Current:
General government
City Council 96,150 105,930 84,132 21,798
City Manager 321,880 423,410 374,758 48,652
City Secretary 184,210 202,380 194,054 8,326
City Attorney 117,000 117,000 129,628 (12,628)
Municipal Court 237,520 236,890 218,553 18,337
Finance 528,450 527,500 514,724 12,776
Building and Fleet Maintenance 124,000 158,250 157,615 635
Support Services 144,660 144,750 143,178 1,572
Human Resources 158,410 157,770 149,027 8,743
Purchasing 96,870 96,960 95,288 1,672
Information Technology 111,590 117,980 116,897 1,083
Combined Services/General 1,750,220 1,836,420 1,851,622 (15,202)
Total General Government 3,870,960 4,125,240 4,029,476 95,764
Public Safety
Police 3,698,150 3,726,180 3,494,137 232,043
Fire 3,291,070 3,708,230 3,536,251 171,979
Animal Control 643,280 648,770 685,449 (36,679)
Total Public Safety 7,632,500 8,083,180 7,715,837 367,343
Urban development
Planning 254,740 258,010 183,683 74,327
Building Inspection 690,920 689,090 600,311 88,779
Code Enforcement 92,060 144,230 75,703 68,527
Total Urban development 1,037,720 1,091,330 859,697 231,633
Streets
Streets 1,501,740 1,576,148 1,548,675 27,473
Total Streets 1,501,740 1,576,148 1,548,675 27,473
Community service
Parks 1,147,420 1,205,230 1,131,321 73,909
Recreation 265,870 266,550 277,681 (11,131)
Library 576,460 595,760 563,018 32,742
Total Community Service - 1,989,750 2,067,540 1,972,020 95,520
60
CITY OF WYLIE, TEXAS EXHIBIT B-1
GENERAL FUND Page 2 of 2
BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED SEPTEMBER 30, 2006
Variance with
Final Budget
Budgeted Amounts Positive
Original Final Actual (Negative)
Debt service:
Principal $ 180,000 $ 180,000 $ 122,303 $ 57,697
Interest and fiscal charges 4,450 4,450 17,122 (12,672)
Total Debt Service 184,450 184,450 139,425 45,025
Total expenditures 16,217,120 _ 17,127,888 16,265,130 862,758
Excess(deficiency)of revenues
over (under)expenditures (407,660) (1,127,918) 1,562,733 2,690,651
Other financing sources(uses):
Transfers in 440,450 440,450 427,000 (13,450)
Transfers out (260,000) _ (260,000) (365,026) (105,026)
Total other financing sources(uses) 180,450 180,450 61,974 (118,476)
Net change in fund balances (227,210) (947,468) 1,624,707 2,572,175
Fund balances, October 1 4,493,063 4,493,063 4,493,063 —
Fund balances, September 30 $ 4,265,853 $ 3,545,595 $ 6,117,770 $ 2,572,175
61
CITY OF WYLIE, TEXAS
NOTES TO REQUIRED SUPPLEMENTARY INFORMATION
Year Ended September 30,2006
STEWARDSHIP,COMPLIANCE,AND ACCOUNTABILITY
A. Budgetary information
The City follows the following procedures in establishing the budgetary data reflected in the financial
statements:
1. Public hearings are conducted to obtain taxpayer comments.
2. Prior to October 1,the budget is legally enacted through passage of an ordinance.
3. The City Manager is authorized to transfer budgeted amounts between departments within any fund;
however,any revisions that alter the total expenditures of any fund must be approved by the City Council.
Therefore the fund level is the legal level of control.
4. Budgeted amounts are as originally adopted or as amended by the City Council.During 2006,individual
amendments were not material in relation to the original appropriations. Any budgeted amounts
appropriated at fiscal year-end and not spent automatically lapse.
5. Capital Project funds were not budgeted.Since project length financial plans usually extend into two or
more fiscal years,this makes comparisons confusing and misleading.
6. Formal budgetary integration is employed as a management control device during the year.The legally
adopted budgets for the General Fund,Special Revenue Funds, and the Debt Service Funds are adopted
on a basis consistent with generally accepted accounting principles. Annual appropriated budgets are
adopted for the following funds:
General Fund
Special Revenue Funds
4B Sales Tax Revenue Fund
Park Acquisition and Improvement Fund
Emergency Communications Fund
Fire Training Center
Debt Service Funds
General Obligation Debt Service
4B Debt Service 1996
4B Debt Service 2005
All annual appropriations lapse at fiscal year end.
62
Combining Statements and Budget Comparisons
as Supplementary Information
This supplementary information includes financial statements and schedules not required by the Governmental Accounting
Standards Board,nor a part of the basic financial statements, but are presented for purposes of additional analysis.
63
EXHIBIT C-1
CITY OF WYLIE, TEXAS
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2006
Total
Nonmajor
Special Debt Capital Governmental
Revenue Service Projects Funds (See
Funds Funds Funds Exhibit A-3)
ASSETS
Cash and cash equivalents $ 106,165 $ 83,567 $ 300,621 $ 490,353
Investments 1,387,419 1,096,283 3,838,091 6,321,793
Receivables(net of allowances for uncollectibles):
Taxes - 65,994 - 65,994
Other 39,101 -- -- 39,101
Intergovernmental 201,244 -- -- 201,244
Due from other funds -- 1,838 -- 1,838
Prepaid items 8,388 -- - 8,388
Total Assets $ 1,742,317 $ 1,247,682 $ 4,138,712 $ 7,128,711
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable $ 42,565 $ -- $ 24,397 $ 66,962
Other payables and accruals 58,462 -- - 58,462
Retainage payable -- -- 188,551 188,551
Due to other funds 13,247 1,838 - 15,085
Liabilities payable from restricted assets:
Deferred revenue -- 61,090 -- 61,090
Total Liabilities 114,274 62,928 212,948 390,150
Fund balances:
Reserved for:
Prepaids 8,388 -- -- 8,388
Debt service - 1,184,754 -- 1,184,754
Unreserved, reported in:
Special revenue funds 1,619,655 -- -- 1,619,655
Capital projects funds - - 3,925,764 3,925,764
Total fund balances 1,628,043 1,184,754 3,925,764 6,738,561
Total Liabilities and Fund Balances $ 1,742,317 $ 1,247,682 $ 4,138,712 $ 7,128,711
64
EXHIBIT C-2
CITY OF WYLIE, TEXAS
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2006
Total
Nonmajor
Special Debt Capital Governmental
Revenue Service Projects Funds(See
Funds Funds Funds Exhibit A-5)
Revenues:
Ad valorem taxes $ - $ 2,140,194 $ - $ 2,140,194
Sales taxes 1,098,725 - - 1,098,725
Services fees 545,811 -- - 545,811
Interest income 62,955 63,532 199,352 325,839
Miscellaneous income 321,525 - 363,027 684,552
Total revenues 2,029,016 2,203,726 562,379 4,795,121
Expenditures:
Current:
Public Safety 842,318 - 333,932 1,176,250
Community service 808,595 -- 8,897 817,492
Capital outlay - -- 2,190,857 2,190,857
Debt service:
Principal 40,038 1,391,666 -- 1,431,704
Interest and fiscal charges 8,454 1,083,381 - 1,091,835
Bond issuance costs - -- 4,586 4,586
Total expenditures 1,699,405 2,475,047 2,538,272 6,712,724
Excess(deficiency)of revenues
over (under)expenditures 329,611 (271,321) (1,975,893) (1,917,603)
Other financing sources(uses):
Transfers in 260,000 606,280 - 866,280
Transfers out (613,280) - (567,743) (1,181,023)
Issuance of long-term debt -- 50,566 904,000 954,566
Total other financing sources(uses) (353,280) 656,846 336,257 639,823
Net change in fund balances (23,669) 385,525 (1,639,636) (1,277,780)
Fund balances, October 1 _ 1,651,712 799,229 5,565,400 _ 8,016,341
Fund balances, September 30 $ 1,628,043 $ 1,184,754 $ 3,925,764 $ 6,738,561
65
CITY OF WYLIE, TEXAS
COMBINING BALANCE SHEET
NONMAJOR SPECIAL REVENUE FUNDS
SEPTEMBER 30, 2006
4B Sales Park Acquisition
Tax Revenue & Improvement
ASSETS
Cash and cash equivalents $ 34,641 $ 36,453
Investments 451,617 481,795
Receivables(net of allowances for uncollectibles):
Other -- —
Intergovernmental 201,244 —
Prepaid items 3,191 --
Total Assets $ 690,693 $ 518,248
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable $ 8,405 $ 11,500
Other payables and accruals 7,771 44,000
Due to other funds 13,247
Total Liabilities 29,423 55,500
Fund balances:
Reserved for:
Prepaids 3,191 —
Unreserved 658,079 462,748
Total fund balances 661,270 462,748
Total Liabilities and Fund Balances $ 690,693 $ 518,248
66
EXHIBIT C-3
Total
Nonmajor
Special
Fire Revenue
Emergency Training Funds (See
Communication Center Exhibit C-1)
$ 29,093 $ 5,978 $ 106,165
374,997 79,010 1,387,419
19,133 19,968 39,101
-- — 201,244
5,197 -- 8,388
$ 428,420 $ 104,956 $ 1,742,317
$ 22,255 $ 405 $ 42,565
6,691 — 58,462
-- — 13,247
28,946 405 114,274
5,197 -- 8,388
394,277 104,551 1,619,655
399,474 104,551 1,628,043
$ 428,420 $ 104,956 $ 1,742,317
67
CITY OF WYLIE, TEXAS
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES
NONMAJOR SPECIAL REVENUE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2006
4B Sales Park Acquisition
Tax Revenue &Improvement
Revenues:
Sales taxes $ 1,098,725 $ —
Services fees — --
Interest income 24,684 16,128
Miscellaneous income 7,900 313,400
Total revenues 1,131,309 329,528
Expenditures:
Current:
Public Safety — —
Community service 598,807 209,788
Debt service:
Principal -- —
Interest and fiscal charges —
Total expenditures 598,807 209,788
Excess(deficiency) of revenues
over (under)expenditures 532,502 119,740
Other financing sources(uses):
Transfers in — --
Transfers out (606,280) _ —
Total other financing sources(uses) (606,280) —
Net change in fund balances (73,778) 119,740
Fund balances, October 1 735,048 343,008
Fund balances, September 30 $ 661,270 $ 462,748
68
EXHIBIT C-4
Total
Nonmajor
Special
Fire Revenue
Emergency Training Funds(See
Communication Center Exhibit C-2)
$ — $ — $ 1,098,725
484,793 61,018 545,811
17,524 4,619 62,955
80 145 321,525
502,397 65,782 2,029,016
772,776 69,542 842,318
— — 808,595
40,038 — 40,038
8,454 — 8,454
821,268 69,542 1,699,405
(318,871) (3,760) 329,611
260,000 — 260,000
— (7,000) (613,280)
260,000 (7,000) (353,280)
(58,871) (10,760) (23,669)
458,345 115,311 1,651,712
$ 399,474 $ 104,551 $ 1,628,043
69
CITY OF WYLIE, TEXAS EXHIBIT C-5
48 SALES TAX REVENUE FUND
SPECIAL REVENUE FUND
BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED SEPTEMBER 30, 2006
Variance with
Final Budget
Budgeted Amounts Positive
Original Final Actual (Negative)
Revenues:
Non-property taxes $ 919,320 $ 919,320 $ 1,098,725 $ 179,405
Interest income 10,000 10,000 24,684 14,684
Miscellaneous income - - 7,900 7,900
Total revenues 929,320 929,320 1,131,309 201,989
Expenditures:
Current:
Community service
48 Parks 520,490 587,490 497,973 89,517
48 Recreation 109,320 109,650 100,834 8,816
Total Community Service 629,810 697,140 598,807 98,333
Total expenditures 629,810 697,140 598,807 98,333
Excess(deficiency)of revenues
over (under)expenditures 299,510 232,180 532,502 300,322
Other financing sources(uses):
Transfers out (606,280) (606,280) (606,280) --
Total other financing sources(uses) (606,280) (606,280) (606,280) -
Net change in fund balances (306,770) (374,100) (73,778) 300,322
Fund balances, October 1 - - 735,048 735,048
Fund balances, September 30 $ (306,770) $ (374,100) $ 661,270 $ 1,035,370
70
CITY OF WYLIE, TEXAS EXHIBIT C-6
PARK ACQUISITION AND IMPROVEMENT
SPECIAL REVENUE FUND
BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED SEPTEMBER 30, 2006
Variance with
Final Budget
Budgeted Amounts Positive
Original Final Actual (Negative)
Revenues:
Intergovernmental $ 70,100 $ 70,100 $ -- $ (70,100)
Interest income 5,000 5,000 16,128 11,128
Miscellaneous income 263,000 263,000 313,400 50,400
Total revenues 338,100 338,100 329,528 (8,572)
Expenditures:
Current:
Community service
Park Acquisition-West Zone - 24,277 13,074 11,203
Park Acquisition-Central Zone 79,000 279,000 _ 196,714 82,286
Total Community Service 79,000 303,277 209,788 93,489
Total expenditures 79,000 303,277 209,788 93,489
Net change in fund balances 259,100 34,823 119,740 84,917
Fund balances,October 1 343,008 343,008 343,008 --
Fund balances, September 30 $ 602,108 $ 377,831 $ 462,748 $ 84,917
71
CITY OF WYLIE, TEXAS EXHIBIT C-7
EMERGENCY COMMUNICATION FUND
SPECIAL REVENUE FUND
BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED SEPTEMBER 30, 2006
Variance with
Final Budget
Budgeted Amounts Positive
Original Final Actual (Negative)
Revenues:
Services fees $ 423,000 $ 555,500 $ 484,793 $ (70,707)
Interest income 4,000 4,000 17,524 13,524
Miscellaneous income - _ - 80 80
Total revenues 427,000 559,500 502,397 (57,103)
Expenditures:
Current:
Public Safety
Dispatch Services 812,480 1,004,270 772,776 231,494
Total Public Safety 812,480 1,004,270 772,776 231,494
Debt service:
Principal 91,546 91,546 40,038 51,508
Interest and fiscal charges 8,454 8,454 8,454 -
Total Debt Service 8,454 8,454 8,454 -
Total expenditures 912,480 1,104,270 821,268 283,002
Excess(deficiency)of revenues
over (under)expenditures (485,480) (544,770) (318,871) 225,899
Other financing sources(uses):
Transfers in 260,000 260,000 260,000 --
Total other financing sources(uses) 260,000 260,000 260,000 -
Net change in fund balances (225,480) (284,770) (58,871) 225,899
Fund balances, October 1 458,345 458,345 458,345 -
Fund balances, September 30 $ 232,865 $ 173,575 $ 399,474 $ 225,899
72
CITY OF WYLIE, TEXAS EXHIBIT C-8
FIRE TRAINING CENTER
SPECIAL REVENUE FUND
BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED SEPTEMBER 30, 2006
Variance with
Final Budget
Budgeted Amounts Positive
Original Final Actual (Negative)
Revenues:
Services fees $ 50,000 $ 50,000 $ 61,018 $ 11,018
Interest income 500 500 4,619 4,119
Miscellaneous income - -- 145 145
Total revenues 50,500 50,500 65,782 15,282
Expenditures:
Current:
Public Safe
ty 157,600 157,600 69,542 88,058
Fire Traineing Center
Total Public Safety 157,600 157,600 69,542 88,058
Total expenditures 157,600 157,600 69,542 88,058
Excess(deficiency)of revenues
over (under)expenditures (107,100) (107,100) (3,760) 103,340
Other financing sources(uses):
Transfers out (7,000) (7,000) (7,000) -
Total other financing sources(uses) (7,000) (7,000) (7,000) -
Net change in fund balances (114,100) (114,100) (10,760) 103,340
Fund balances, October 1 115,311 115,311 115,311 _ -
Fund balances, September 30 $ 1,211 $ 1,211 $ 104,551 $ 103,340
73
EXHIBIT C-9
CITY OF WYLIE, TEXAS
COMBINING BALANCE SHEET
NONMAJOR DEBT SERVICE FUNDS
SEPTEMBER 30, 2006
Total
Nonmajor
Debt
General Service
Obligation 4B Debt 46 Debt Funds(See
Debt Service Service 1996 Service 2005 Exhibit C-1)
ASSETS
Cash and cash equivalents $ 70,977 $ 2,962 $ 9,628 $ 83,567
Investments 938,111 30,915 127,257 1,096,283
Receivables(net of allowances for uncollectibles):
Taxes 65,994 — -- 65,994
Due from other funds 1,838 -- -- 1,838
Total Assets $ 1,076,920 $ 33,877 $ 136,885 $ 1,247,682
LIABILITIES AND FUND BALANCES
Liabilities:
Due to other funds $ — $ -- $ 1,838 $ 1,838
Deferred revenue 61,090 — — 61,090
Total Liabilities 61,090 — 1,838 62,928
Fund balances:
Reserved for:
Debt service 1,015,830 33,877 135,047 1,184,754
Total fund balances 1,015,830 33,877 135,047 1,184,754
Total Liabilities and Fund Balances $ 1,076,920 $ 33,877 $ 136,885 $ 1,247,682
74
EXHIBIT C-10
CITY OF WYLIE, TEXAS
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES
NONMAJOR DEBT SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2006 Total
Nonmajor
Debt
General Service
Obligation 4B Debt 4B Debt Funds(See
Debt Service Service 1996 Service 2005 Exhibit C-2)
Revenues:
Ad valorem taxes $ 2,140,194 $ — $ -- $ 2,140,194
Interest income 55,293 6,163 2,076 63,532
Total revenues 2,195,487 6,163 2,076 2,203,726
Expenditures:
Current:
Debt service:
Principal 1,101,666 75,000 215,000 1,391,666
Interest and fiscal charges 767,091 64,679 251,611 1,083,381
Total expenditures _ 1,868,757 _ 139,679 466,611 2,475,047
Excess(deficiency)of revenues
over (under)expenditures 326,730 (133,516) (464,535) (271,321)
Other financing sources(uses):
Transfers in — — 606,280 606,280
Issuance of long-term debt 50,566 -- _ — _ 50,566
Total other financing sources(uses) 50,566 -- 606,280 656,846
Net change in fund balances 377,296 (133,516) 141,745 385,525
Fund balances, October 1 638,534 167,393 (6,698) 799,229
Fund balances, September 30 $ 1,015,830 $ 33,877 $ 135,047 $ 1,184,754
75
CITY OF WYLIE, TEXAS EXHIBIT C-11
GENERAL OBLIGATION DEBT SERVICE
DEBT SERVICE FUND
BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED SEPTEMBER 30, 2006
Variance with
Final Budget
Budgeted Amounts Positive
Original Final Actual (Negative)
Revenues:
Ad valorem taxes $ 2,119,460 $ 2,119,460 $ 2,140,194 $ 20,734
Interest income 15,000 _ 15,000 55,293 40,293
Total revenues 2,134,460 2,134,460 2,195,487 61,027
Expenditures:
Debt service:
Principal 1,036,670 1,036,670 1,101,666 (64,996)
Interest and fiscal charges 1,161,980 1,161,980 767,091 394,889
Total Debt Service 1,161,980 1,161,980 767,091 394,889
Total expenditures 2,198,650 2,198,650 1,868,757 329,893
Excess(deficiency)of revenues
over (under)expenditures (64,190) (64,190) 326,730 390,920
Other financing sources(uses):
Issuance of long-term debt — -- 50,566 50,566
Total other financing sources(uses) -- -- 50,566 50,566
Net change in fund balances (64,190) (64,190) 377,296 441,486
Fund balances, October 1 638,534 638,534 638,534 —
Fund balances, September 30 $ 574,344 $ 574,344 $ 1,015,830 $ 441,486
76
CITY OF WYLIE, TEXAS EXHIBIT C-12
48 DEBT SERVICE 1996
DEBT SERVICE FUND
BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED SEPTEMBER 30, 2006
Variance with
Final Budget
Budgeted Amounts Positive
Original Final Actual (Negative)
Revenues:
interest income $ 1,000 $ 1,000 $ 6,163 $ 5,163
Total revenues 1,000 1,000 6,163 5,163
Expenditures:
Debt service:
Principal 75,000 75,000 75,000 --
Interest and fiscal charges 63,960 63,960 64,679 (719)
Total Debt Service 63,960 63,960 64,679 (719)
Total expenditures 138,960 138,960 139,679 (719)
Net change in fund balances (137,960) (137,960) (133,516) 4,444
Fund balances,October 1 167,393 167,393 167,393 —
Fund balances, September 30 $ 29,433 $ 29,433 $ 33,877 $ 4,444
77
CITY OF WYLIE, TEXAS EXHIBIT C-13
4B DEBT SERVICE 2005
DEBT SERVICE FUND
BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED SEPTEMBER 30, 2006
Variance with
Final Budget
Budgeted Amounts Positive
Original Final Actual (Negative)
Revenues:
Interest income $ 2,000 $ 2,000 $ 2,076 $ 76
Total revenues 2,000 2,000 2,076 76
Expenditures: .
Debt service:
Principal 215,000 215,000 215,000 —
Interest and fiscal charges 252,320 252,320 251,611 709
Total Debt Service 252,320 252,320 251,611 709
Total expenditures 467,320 467,320 466,611 709
Excess(deficiency)of revenues
over (under)expenditures (465,320) (465,320) (464,535) 785
Other financing sources(uses):
Transfers in 606,280 606,280 606,280 --
Total other financing sources(uses) 606,280 606,280 606,280 —
Net change in fund balances 140,960 140,960 141,745 785
Fund balances,October 1 (6,698) (6,698) (6,698) --
Fund balances, September 30 $ 134,262 $ 134,262 $ 135,047 $ 785
78
EXHIBIT C-14
CITY OF WYLIE, TEXAS
COMBINING BALANCE SHEET
NONMAJOR CAPITAL PROJECTS FUNDS
SEPTEMBER 30, 2006
Total
Nonmajor
Capital
Projects
Street Street Parks Funds(See
Construction _ Perimeter Construction Exhibit C-1)
ASSETS
Cash and cash equivalents $ 255,694 $ 31,443 $ 13,484 $ 300,621
Investments 3,379,513 415,578 43,000 3,838,091
Total Assets $ 3,635,207 $ 447,021 $ 56,484 $ 4,138,712
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable $ 24,397 $ — $ — $ 24,397
Retainage payable 188,551 — -- 188,551
Total Liabilities 212,948 — — 212,948
Fund balances:
Unreserved _ 3,422,259 _ 447,021 56,484 3,925,764
Total fund balances 3,422,259 447,021 56,484 3,925,764
Total Liabilities and Fund Balances $ 3,635,207 $ 447,021 $ 56,484 $ 4,138,712
79
CITY OF WYLIE, TEXAS
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES
NONMAJOR CAPITAL PROJECTS FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2006
Street Street
Construction Perimeter
Revenues:
Interest income $ 174,708 $ 20,054
Miscellaneous income 363,027 —
Total revenues 537,735 20,054
Expenditures:
Current:
Public Safety — _-
Community service — —
Capital outlay 2,190,857 —
Debt service:
Bond issuance costs — --
Total expenditures 2,190,857 —
Excess(deficiency)of revenues
over (under)expenditures (1,653,122) 20,054
Other financing sources(uses):
Transfers out — —
Issuance of long-term debt — --
Total other financing sources(uses) — — --
Net change in fund balances (1,653,122) 20,054
Fund balances, October 1 5,075,381 426,967
Fund balances, September 30 $ 3,422,259 $ 447,021
80
EXHIBIT C-15
Total
Nonmajor
Capital
2005 Public Projects
Parks Property Financial Funds(See
Construction Contractual Obligations Exhibit C-2)
$ 2,329 $ 2,261 $ 199,352
— — 363,027
2,329 2,261 562,379
-- 333,932 333,932
8,897 — 8,897
— — 2,190,857
-- 4,586 4,586
8,897 338,518 2,538,272
(6,568) (336,257) (1,975,893)
-- (567,743) (567,743)
-- 904,000 904,000
— 336,257 336,257
(6,568) — (1,639,636)
63,052 — 5,565,400
$ 56,484 $ — $ 3,925,764
81
This page is left blank intentionally.
R7
STATISTICAL SECTION
This part of the City of Wylie, Texas'comprehensive annual financial report presents detailed information
as a context for understanding what the information in the financial statements, note disclosures, and required
supplementary information says about the City's overall financial health.
Contents Page
Financial Trends 84
These schedules contain trend information to help the reader understand how the City's
financial performance and well-being have changed over time.
Revenue Capacity 90
These schedules contain information to help the reader assess the factors affecting the City's
ability to generate its property and sales taxes.
Debt Capacity 97
These schedules present information to help the reader assess the affordability of the City's
current levels of outstanding debt and the City's ability to issue additional debt in the future.
Demographic and Economic Information 102
These schedules offer demographic and economic indicators to help the reader understand
how the City's financial activities take place and to help make comparisons over time and
with other governments.
Operating Information 104
These schedules contain information about the City's operations and resources to help the
reader understand how the City's financial information relates to the services the City provides
and the activities it performs.
Sources: Unless otherwise noted, the information in these schedules is derived from the comprehensive
annual financial reports for the relevant year.
83
TABLE D-1
CITY OF WYLIE, TEXAS
NET ASSETS BY COMPONENT
LAST FOUR FISCAL YEARS
(UNAUDITED)
Fiscal Year
2003 2004 2005 2006
Governmental Activities
Invested in Capital Assets,
Net of Related Debt $ 55,109,795 62,317,301 $ 72,335,440 $ 81,735,348
Restricted 7,714,394 4,103,955 6,412,687 41,205,977
Unrestricted (962,448) 7,178,450 7,914,730 (26,142,238)
Total Governmental Activities Net Assets $ 61,861,741 73,599,706 $ 86,662,857 $ 96,799,087
Business-type Activities
Invested in Capital Assets,
Net of Related Debt $ 18,425,639 20,801,795 $ 25,207,269 $ 30,840,491
Restricted 9,750,823 12,626,787 12,739,448 11,926,132
Unrestricted 3,300,191 _ 3,680,724 5,175,119 6,181,593
Total Business-type Activities Net Assets $ 31,476,653 37,109,306 $ 43,121,836 $ 48,948,216
Primary Government
Invested in Capital Assets,
Net of Related Debt $ 73,535,434 83,119,096 $ 97,542,709 $ 112,575,839
Restricted 17,465,217 16,730,742 19,152,135 53,132,109
Unrestricted 2,337,743 10,859,174 13,089,849 (19,960,645)
Total Primary Government Net Assets $ 93,338,394 110,709,012 $ 129,784,693 $ 145,747,303
Note:The city began to report accrual information when it implemented GASB Statement 34 in fiscal year 2003.This
information is presented using the accrual basis of accounting.
84
TABLE D-2
CITY OF WYLIE, TEXAS
EXPENSES, PROGRAM REVENUES,AND NET(EXPENSE)/REVENUE
LAST FOUR FISCAL YEARS
(UNAUDITED)
Fiscal Year
2003 2004 2005 2006
Expenses
Governmental Activities:
General Government $ 2,946,474 $ 3,360,719 $ 3,490,621 $ 4,050,307
Public safety 4,868,978 5,898,710 7,437,298 8,003,798
Urban development 723,553 839,258 958,368 862,184
Streets 2,888,760 3,507,891 4,012,471 4,578,339
Community service 1,866,710 2,118,200 2,348,580 2,651,744
Interest on Long-Term Debt 897,371 836,290 1,030,375 1,751,355
Total Governmental Activities Expenses 14,191,846 16,561,068 19,277,713 21,897,727
Business-type Activities
Utility 5,294,510 5,155,675 7,926,463 8,843,954
Total Business-type Activities Expenses 5,294,510 5,155,675 7,926,463 8,843,954
Total Primary Government Expenses $ 19,486,356 $ 21,716,743 $_ 27,204,176 $ 30,741,681
Program Revenues
Governmental Activities:
Charges for Services:
General Government $ 1,130,651 1,399,332 $ 1,522,104 $ 1,862,104
Public safety 592,041 779,785 1,071,140 946,408
Urban development 2,150,919 1,986,683 1,689,979 1,748,000
Streets -- — — —
Community service 115,180 107,242 130,434 221,299
Operating Grants and Contributions 67,139 42,088 61,271 37,731
Capital Grants and Contributions 339,992 10,902,894 12,462,144 8,411,904
Total Governmental Activities Program Revenues 4,395,922 15,218,024 16,937,072 13,227,446
Business-type Activities:
Charges for Services:
Utlility 5,864,532 6,776,232 7,876,859 8,832,061
Operating Grants and Contributions — — — —
Capital Grants and Contributions 3,763,980 3,863,745 5,945,267 5,148,706
Total Business-type Activities Program Revenues 9,628,512 10,639,977 13,822,126 13,980,767
Total Primary Government Program Revenues $ 14,024,434 $ 25,858,001 $ 30,759,198 $ 27,208,213
Net(Expense)/Revenue
Governmental Activities $ (9,795,924) (1,343,044) $ (2,340,641) $ (8,670,281)
Business-type Activities 4,334,002 5,484,302 5,895,663 5,136,813
Total Primary Government Net Expense $ (5,461,922) 4,141,258 $ 3,555,022 $ (3,533,468)
Note: The city began to report accrual information when it implemented GASB Statement 34 in fiscal year 2003.This
information is presented using the accrual basis of accounting.
85
TABLE D-3
CITY OF WYLIE, TEXAS
GENERAL REVENUES AND TOTAL CHANGE IN NET ASSETS
LAST FOUR FISCAL YEARS
(UNAUDITED)
Fiscal Year
2003 2004 2005 2006
Net(Expense)/Revenue
Governmental Activities $ (9,795,924) $ (1,343,044) $ (2,340,641) $ (8,670,281)
Business-type Activities 4,334,002 5,484,302 5,895,663 5,136,813
Total Primary Government Net Expense (5,461,922) 4,141,258 3,555,022 (3,533,468)
General Revenues and Other Changes in Net Assets
Governmental Activities:
Taxes
Ad valorem taxes 6,748,379 8,226,158 9,744,962 11,232,673
Sales taxes 1,513,254 2,130,573 2,668,983 3,308,755
Franchise taxes 1,363,395 1,712,695 1,454,975 1,941,805
Unrestricted ilnvestment earnings 188,379 146,679 439,481 1,406,561
Miscellaneous 35,914 25,698 558,401 469,580
Gain (loss)on disposal of capital assets 6,207 — — —
Transfers 492,125 570,239 479,942 447,137
Total Governmental Activities 10,347,653 12,812,042 15,346,744 18,806,511
Business-type Activities:
Investment Earnings 227,486 191,258 441,638 821,375
Miscellaneous 61,564 131,494 129,976 315,329
Gain (loss)on disposal of capital assets — 193,305 —
Transfers (492,125) (570,239) (479,942) (447,137)
Total Business-type Activities (203,075) (247,487) 284,977 689,567
Total Primary Government $ 10,144,578 12,564,555 $ 15,631,721 $ 19,496,078
Change in Net Assets
Governmental Activities $ 551,729 11,468,998 $ 13,006,103 $ 10,136,230
Business-type Activities 4,130,927 5,236,815 6,180,640 5,826,380
Total Primary Government $ 4,682,656 16,705,813 $ 19,186,743 $ 15,962,610
Note:The city began to report accrual information when it implemented GASB Statement 34 in fiscal year 2003.This
information is presented using the accrual basis of accounting.
86
TABLE D-4
CITY OF WYLIE, TEXAS
PROGRAM REVENUES BY FUNCTION/PROGRAM
LAST THREE FISCAL YEARS
(ACCRUAL BASIS OF ACCOUNTING)
Fiscal Year
2003 2004 2005 2006
Function/Program
Governmental Activities:
General Government $ 1,130,651 $ 1,399,332 $ 1,522,104 $ 1,862,104
Public Safety 638,967 883,428 1,263,444 1,018,810
Urban Development 2,150,919 1,986,683 1,689,979 1,748,000
Streets — 10,607,369 12,093,836 8,025,212
Community Service 475,385 341,212 367,709 573,320
Interest on Long-Term Debt — — — —
Subtotal Governmental Activities 4,395,922 15,218,024 16,937,072 13,227,446
Business-type Activities:
Utility 9,628,512 10,639,977 13,822,126 13,980,767
Subtotal Business-type Activities 9,628,512 10,639,977 13,822,126 13,980,767
Total Primary Government $ 14,024,434 $ 25,858,001 $ 30,759,198 $ 27,208,213
87
TABLE D-5
CITY OF WYLIE, TEXAS
FUND BALANCES OF GOVERNMENTAL FUNDS
LAST TEN FISCAL YEARS
(UNAUDITED)
Fiscal Year
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
General Fund
Reserved $ 16,016 $ 10,644 $ 83,197 $ 123,443 $ 93,941 $ 281,746 $ 27,156 $ 27,156 $ 66,650 $ 193,791
Unreserved 1,082,139 1,527,494 1,013,713 1,029,509 2,074,503 2,427,547 3,358,463 3,358,463 4,426,413 5,923,979
Total General Fund $ 1,098,155 $ 1,538,138 $ 1,096,910 $ 1,152,952 $ 2,168,444$ 2,709,293 $ 3,385,619 $ 3,385,619 $ 4,493,063 $ 6,117,770
All Other Governmental Funds
Reserved $ 323,111 $ 329,456 $ 351,616 $ 413,805 $ 447,709 $ 504,533 $ 652,595 $ 652,595 $ 799,229 $ 1,193,142
Unreserved,Reported In:
Special Revenue Funds 178,960 272,859 510,538 648,818 656,310 553,365 923,291 923,291 1,651,712 1,619,655
Capital Projects Funds 2,119,719 1,767,523 3,559,741 3,977,960 7,134,694 8,485,096 7,124,117 7,124,117 5,565,400 (1) 39,960,132
Total All Other Governmental Funds $ 2,621,790 $ 2,369,838 $ 4,421,895 $ 5,040,583 $ 8,238,713$ 9,542,994 $ 8,700,003 $ 8,700,003 $ 8,016,341 $ 42,772,929
(1) The increase in fund balance was due to unspent bond proceeds from an issuance during the period for capital projects.
88
I'
TABLE D-6
CITY OF WYLIE, TEXAS
CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
LAST TEN FISCAL YEARS
(UNAUDITED)
Fiscal Year
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
Revenues
Ad valorem taxes $ 4,290,348 $ 4,515,583 $ 5,000,046 $ 5,717,572 $ 6,591,776 $ 5,549,904 $ 6,789,129 $ 8,173,918 $ 9,754,037 $ 11,207,753
Sales taxes - -- - -- -- 1,425,506 1,513,254 2,130,572 2,668,983 3,308,755
Franchise fees - - - - -- 958,066 1,062,766 1,382,731 1,407,351 1,893,383
Licenses and permits 130,574 201,454 313,225 380,124 739,570 1,131,544 1,708,903 1,522,039 1,260,963 1,319,956
Intergovernmental 75,235 349,658 183,860 305,156 263,330 365,316 360,135 532,857 773,875 443,124
Service fees 564,701 681,722 786,721 834,143 1,077,036 1,643,429 1,563,150 1,964,910 2,094,474 2,322,030
Court fees 220,683 264,195 305,766 520,297 492,549 484,920 426,637 419,272 427,892 617,288
Interest income 237,362 239,206 210,125 368,180 358,224 225,386 188,379 146,679 439,481 1,406,562
Miscellaneous income 70,101 123,028 255,687 109,817 292,778 162,866 353,940 143,896 840,676 859,269
Total Revenues 5,589,004 6,374,846 7,055,430 8,235,289 9,815,263 11,946,937 13,966,293 16,416,874 19,667,732 23,378,120
Expenditures
General Government 1,840,800 1,840,230 2,877,573 2,243,847 2,553,293 2,946,905 3,067,478 3,380,349 3,767,483 4,075,244
Public safety 1,666,984 1,713,291 2,681,027 2,763,704 3,144,614 4,120,896 4,761,956 5,773,019 7,751,414 8,892,087
Urban developmetn 187,755 244,198 335,778 418,151 550,994 711,194 707,450 827,281 953,570 859,697
Streets 511,610 668,928 449,737 561,432 445,148 2,210,787 721,335 1,213,454 1,345,498 1,548,675
Community service 455,349 623,980 592,189 893,465 1,166,681 1,438,312 1,906,459 2,094,914 8,554,999 2,789,512
Capital Outlay 1,990,010 1,706,918 1,693,845 1,841,395 1,758,402 -- 1,479,178 3,865,797 4,178,917 2,190,857
Debt Service
Principal 690,384 702,271 874,452 1,186,455 1,409,509 1,096,743 1,190,889 1,326,449 1,404,888 1,554,007
Interest and fiscal charges -- -- -- -- -- 746,970 875,384 850,877 769,876 1,109,257
Bond issuance costs -- - - -- -- -- -- 176,219 154,417
Total Expenditures 7,342,892 7,499,816 9,504,601 9,908,449 11,028,641 13,271,807 14,710,129 19,332,140 28,902,864 23,173,753
Excess of Revenues
Over(Under)Expenditures (1,753,888) (1,124,970) (2,449,171) (1,673,160) (1,213,378) (1,324,870) (743,836) (2,915,266) (9,235,132) 204,367
Other Financing Sources(Uses)
Transfers In 666,049 793,819 425,288 542,355 565,000 771,430 1,149,708 1,011,756 1,188,604 1,293,280
Transfers Out (273,389) (543,819) (175,288) (174,465) (138,000) (351,430) (909,784) (690,495) (943,847) (1,546,049)
Issuance of long-term debt 1,500,000 1,060,000 4,220,000 2,000,000 5,000,000 2,750,000 -- -- 13,798,337 36,229,000
Premium on bonds issued -- -- -- - - -- - - 160,796 200,697
Discount on bonds issued - -- -- -- -- -- - -- (84,614) --
Payment to refunded bond escrow agent -- -- -- - -- -
Sale of capital assets 827 3,001 -- -- -- -- 6,207 -- (1,866,358) --
Total Other Financing
Sources(Uses) 1,893,487 1,313,001 4,470,000 2,367,890 5,427,000 3,170,000 246,131 321,261 12,252,918 36,176,928
Net Change in Fund Balances $ 139,599 $ 188,031 $ 2,020,829 $ 694,730 4,213,622 $ 1,845,130 $ (497,705)$ (2,594,005)$ 3,017,786 $ 36,381,295
Debt Service As A Percentage
Of Noncapital Expenditures 12.9% 12.1% 11.2% 14.7% 15.2% 13.9% 15.6% 14.1% 9.5% 13.4%
89
TABLE D-7
CITY OF WYLIE, TEXAS
TAX REVENUES BY SOURCE, GOVERNMENTAL FUNDS
LAST TEN FISCAL YEARS
(UNAUDITED)
Fiscal Ad Valorem Sales Franchise
Year Taxes Taxes Taxes Total
1997 $ 2,736,072 $ 944,620 $ 609,656 $ 4,290,348
1998 2,920,124 968,730 626,729 4,515,583
1999 3,146,326 1,143,102 710,618 5,000,046
2000 3,829,263 1,182,764 705,545 5,717,572
2001 4,509,741 1,265,091 816,944 6,591,776
2002 5,549,904 1,425,506 958,066 7,933,476
2003 6,789,129 1,513,254 1,062,766 9,365,149
2004 8,173,918 2,130,572 1,382,731 11,687,221
2005 9,754,037 2,668,983 1,407,351 13,830,371
2006 11,207,753 3,308,755 1,893,383 16,409,891
Percent
Change
1997-2006 309.6% 250.3% 210.6% 282.5%
90
I
TABLE D-8
CITY OF WYLIE, TEXAS
ASSESSED VALUE AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY(1)
LAST TEN FISCAL YEARS
(UNAUDITED)
Total Estimated Taxable Assessed
Less: Total Taxable Direct Actual Value as a
Fiscal Residential Commercial Industrial Tax-Exempt Assessed Tax Taxable Percentage of
Year Property Property Property(2) Property Value Rate Value Actual Taxable Value
1997 $ 374,667,961 $ 61,860,436 $ N/A $ 34,295,672 $ 402,232,725 $ 0.6750 $ 402,232,725 100.000%
1998 397,157,540 63,635,268 N/A 33,899,573 426,893,235 0.6750 426,893,235 100.000%
1999 439,259,135 67,143,855 N/A 38,543,512 467,859,478 0.7000 467,859,478 100.000%
2000 468,009,067 93,993,900 124,720,455 36,723,491 649,999,931 0.7250 649,999,931 100.000%
2001 560,941,176 119,452,227 152,385,135 38,197,185 794,581,353 0.7200 794,581,353 100.000%
2002 726,859,995 141,791,206 145,359,599 48,290,835 965,719,965 0.7150 965,719,965 100.000%
2003 908,488,917 238,191,077 71,440,440 61,618,003 1,156,502,431 0.7050 1,156,502,431 100.000%
2004 1,150,987,305 278,236,963 68,178,047 67,507,524 1,429,894,791 0.6950 1,429,894,791 100.000%
2005 1,337,824,710 318,619,349 60,064,348 76,422,118 1,640,086,289 0.6950 1,640,086,289 100.000%
2006 1,542,236,827 263,505,829 136,669,956 84,931,166 1,857,481,446 0.7068 1,857,481,446 100.000%
91
TABLE D-9
CITY OF WYLIE, TEXAS
DIRECT AND OVERLAPPING PROPERTY TAX RATES(1)
LAST TEN FISCAL YEARS
(UNAUDITED)
City Direct Rates Overlapping Rates
General Wylie Community Collin County Total
Obligation Total Independent Independent Community Direct&
Fiscal Basic Debt Direct School School Collin College Overlapping
Year Rate Service Rate District District County District Rates
1997 $ 0.5421 $ 0.1329 $ 0.6750 $ 1.5500 $ 1.4600 $ 0.2600 $ 0.0986 $ 4.0436
1998 0.5169 0.1581 0.6750 1.5500 1.4600 0.2600 0.0986 4.0436
1999 0.5035 0.1965 0.7000 1.6000 1.5000 0.2500 0.0986 4.1486
2000 0.5209 0.2041 0.7250 1.5700 1.2928 0.2500 0.0957 3.9335
2001 0.4891 0.2309 0.7200 1.5700 1.5000 0.2500 0.0941 4.1341
2002 0.5039 0.2111 0.7150 1.5609 1.4301 0.2500 0.0928 4.0488
2003 0.5340 0.1710 0.7050 1.6100 1.5375 0.2500 0.0920 4.1945
2004 0.5559 0.1391 0.6950 1.7200 1.6200 0.2500 0.0919 4.3769
2005 0.5619 0.1331 0.6950 1.8000 1.6700 0.2500 0.0906 4.5056
2006 0.5620 0.1448 0.7068 1.7250 1.5400 0.2400 0.0878 4.2996
(1) Source: Central appraisal District of Collin County web site(www.collin-cad.org).
(2) Although the Community Independent School District is included in the above presentation, less than one per cent
of the City of Wylie lies within this taxing jurisdiction.
(3) Basis for property tax rate is per$100 of taxable valuation.
92
TABLE D-10
CITY OF WYLIE, TEXAS
PRINCIPAL PROPERTY TAX PAYERS
CURRENT YEAR AND NINE YEARS AGO
(UNAUDITED)
2006 1997
Percentage Percentage
of Total City of Total City
Taxable Taxable Taxable Taxable
Assessed Assessed Assessed Assessed
Taxpayer Value Rank Value Value Rank Value
Sanden International $ 44,011,807 1 2.46% $ 50,355,654 1 12.52%
Sanden International(USA) 16,400,000 2 0.92% 15,974,112 2 3.97%
Atrium Companies, Inc. 15,038,278 3 0.84% — — —
CMH Parks, Inc. 13,933,265 4 0.78% — — --
TXU Electric Delivery Company 12,755,879 5 0.71% — — —
Wal-Mart Real Estate Business 12,565,276 6 0.70% -- — --
Cascades Apartments Ltd. 10,520,154 7 0.59% — -- —
Holland Hitch of Texas Inc. 8,957,425 8 0.50% 8,870,276 3 —
Windough(DE)LP 8,288,878 9 0.46% — -- —
Centex Homes 8,200,856 10 0.46% — — —
General Telephone — — — 6,527,082 4 1.62%
Fujilease Corporation — — — 5,641,738 5 1.40%
Clayton Homes — — -- 4,693,293 6 1.17%
Texas Utilities Electric — — -- 3,829,730 7 0.95%
Extruders Div.of Fojasek -- — — 3,812,902 8 0.95%
Weatdale Rustic Oaks Ltd. — — -- 3,647,468 9 0.91%
Brookshire Grocery Co. — — -- 2,279,306 10 0.57%
Total $ 150,671,818 8.42% $ 105,631,561 24.06%
(1) Source: Central appraisla district of Collin County.
93
TABLE D-11
CITY OF WYLIE, TEXAS
PROPERTY TAX LEVIES AND COLLECTIONS
LAST TEN FISCAL YEARS
(UNAUDITED)
Fiscal Collected Within the
Year Taxes Levied Fiscal Year of the Levy Collections Total Collections to Date
Ended for the Percentage In Subsequent Percentage
September 30 Fiscal Year Amount of Levy Years Amount of Levy
1997 $ 2,673,944 $ 2,636,405 98.60% $ 36,894 $ 2,673,299 99.98%
1998 2,882,071 2,836,280 98.41% 65,880 2,902,160 100.70%
1999 3,161,383 3,095,579 97.92% 42,583 3,138,162 99.27%
2000 3,799,949 3,739,402 98.41% 28,033 3,767,435 99.14%
2001 4,482,580 4,413,866 98.47% 44,588 4,458,454 99.46%
2002 5,551,269 5,413,295 97.51% 52,355 5,465,650 98.46%
2003 6,900,461 6,567,156 95.17% 82,696 6,649,852 96.37%
2004 8,229,415 8,029,289 97.57% 136,594 8,165,883 99.23%
2005 10,041,005 9,524,055 94.85% 74,574 9,598,629 95.59%
2006 11,161,901 10,989,996 98.46% -- 10,989,996 98.46%
94
TABLE D-12
CITY OF WYLIE, TEXAS
DIRECT AND OVERLAPPING SALES TAX RATES
LAST TEN FISCAL YEARS
(UNAUDITED)
City
Fiscal Direct Collin
Year Rate County
1997 1.50% —
1998 1.50% —
1999 1.50% —
2000 1.50% —
2001 1.50% --
2002 1.50% —
2003 1.50% —
2004 1.50% —
2005 1.50% —
2006 1.50% --
Note: The City sales tax rate includes the City sales tax rate of one percent and the
blended component unit rate of one-half percent.
95
TABLE D-13
CITY OF WYLIE, TEXAS
SALES TAX REVENUE PAYERS BY INDUSTRY
CURRENT YEAR AND NINE YEARS AGO
Fiscal Year 2006 Fiscal Year 1997
Number Percentage Tax Percentage Number Percentage Tax Percentage
of Filers of Total Liability of Total of Filers of Total Liability of Total
Retail Trade 737 39.26% $ 1,522,382 66.21% 649 47.86% $ 399,344 64.61%
Services 559 29.78% 176,737 7.69% 329 24.26% 57,080 9.23%
Manufacturing 146 7.78% 145,347 6.32% 112 8.26% 88,258 14.28%
Wholesale Trade 54 2.88% 123,927 5.39% 42 3.10% 31,610 5.11%
Government -- -- -- -
Construction 214 11.40% 177,164 7.71% 137 10.10% 9,487 1.53%
Finance, Insurance,and Real Estate — -- -- -- — — -- --
Transportation and Utilities 25 1.33% 5,562 0.24% 14 1.03% 10,322 1.67%
Agriculture 142 7.57% 148,077 6.44% 73 5.38% 22,018 3.56%
Mining -- -- — -- -- -- -- --
Farm Earnings -- -- — -- -- -- -- --
Total 1,877 100.00% $ 2,299,196 100.00% 1,356 100.00% $ 618,120 100.00%
Note: Due to confidentiality issues,the names of the ten largest revenue payers are not available.The categories presented are intended to
provide alternative information regarding the sources of revenue. The tax liability includes the City sales tax rate of one percent and the
blended component unit rate of one-half percent.
96
I`
TABLE D-14
CITY OF WYLIE, TEXAS
RATIOS OF OUTSTANDING DEBT BY TYPE
LAST TEN FISCAL YEARS
(UNAUDITED)
General Bonded Debt Other Governmental Activities Debt
General Combination Tax
Fiscal Obligation Tax/Revenue Certificates of Revenue Contractual Loans and Capital
Year Bonds Bonds Obligation Bonds Obligations Obligation Leases
1997 $ 5,537,652 $ -- $ — $ 1,710,000 $ -- $ — $ --
1998 5,346,814 -- — 1,665,000 -- -- --
1999 5,267,238 -- -- 1,620,000 — -- --
2000 8,092,579 -- -- 1,570,000 -- -- --
2001 11,064,179 -- — 1,515,000 — -- --
2002 15,294,286 1,509,130 365,000 1,400,000 — 370,000 —
2003 14,490,946 1,281,580 270,000 1,335,000 -- 285,000 --
2004 13,656,341 1,049,736 170,000 1,265,000 -- 195,000 —
2005 19,325,556 6,225,000 65,000 1,190,000 -- 100,000 33,064
2006 53,613,889 6,010,000 -- 1,115,000 841,659 — 16,097
Business-type Activities
General Water Total Percentage
Fiscal Obligation Revenue Contractual Capital Primary of Personal Per
Year Bonds Bonds Obligations Leases Government Income Capita(2)
1997 $ 7,667,347 $ -- $ -- $ -- $ 14,914,999 6.96% $ 1,394
1998 7,318,185 -- -- -- 14,329,999 5.77% 1,241
1999 6,954,984 — -- -- 13,842,222 4.54% 1,116
2000 6,522,421 1,380,000 — — 17,565,000 4.98% 1,332
2001 6,100,821 3,060,000 -- -- 21,740,000 4.59% 1,301
2002 3,235,735 6,040,870 -- 672,813 28,887,834 5.60% 1,574
2003 3,074,072 5,603,420 — 522,578 26,862,596 4.50% 1,258
2004 2,903,677 5,155,264 -- 360,724 24,755,742 3.30% 947
2005 3,699,444 3,615,000 -- 356,890 34,609,954 3.91% 1,161
2006 3,226,111 3,460,000 1,157,710 185,000 69,625,466 6.70% 2,110
(1) Details regarding the City's outstanding debt cn be found in the notes to the financial statements.
(2) See the Schedule of Demographic and Economis Statistics on page 102 for population data.
97
TABLE D-15
CITY OF WYLIE, TEXAS
RATIOS OF GENERAL BONDED DEBT OUTSTANDING
LAST TEN FISCAL YEARS
(UNAUDITED)
General Bonded Debt Outstanding
Percentage
General Actual Taxable
Fiscal Obligation Certificates of Value of Per
Year Bonds Obligation Total Property Capita
1997 $ 12,786,702 $ -- $ 12,786,702 3.18% $ 1,195
1998 13,232,033 — 13,232,033 3.10% 1,146
1999 15,973,030 — 15,973,030 3.41% 1,288
2000 16,921,504 — 16,921,504 3.12% 1,283
2001 20,782,305 — 20,782,305 3.37% 1,244
2002 15,294,286 365,000 15,659,286 2.98% 853
2003 14,490,946 270,000 14,760,946 1.70% 691
2004 13,656,341 170,000 13,826,341 1.28% 529
2005 19,325,556 65,000 19,390,556 1.80% 650
2006 53,613,889 — 53,613,889 3.51% 1,625
(1) Details regarding the City's outstanding debt can be found in the notes to the financial statements.
(2) See the schedule of Assessed Value and Estimated Actual Value of Taxable Property on page 91
for property value data.
(3) See the Schedule of Demographic and Economis Statistics on page 102 for population data.
98
TABLE D-16
CITY OF WYLIE, TEXAS
DIRECT AND OVERLAPPING
GOVERNMENTAL ACTIVITIES DEBT
(UNAUDITED)
Estimated
Share of
Estimated Direct and
Debt Percentage Overlapping
Governmental Unit Outstanding Applicable Debt
Debt Repaid With Property Taxes
Wylie Independent School District $ 229,400,804 (1) 56.470% $ 129,542,634
Community Independent School District 13,046,888 (1) 0.420% 54,797
Collin County 333,285,000 (1) 2.670% 8,898,710
Collin County 54,315,000 (1) 2.670% 1,450,211
Subtotal, Overlapping Debt 139,946,351
City Direct Debt (2) 53,613,899
Total Direct and Overlapping Debt $ 193,560,250
Ratio of Direct and Overlapping Bonded Debt to
Taxable Assessed Valuation 10.92%
Per Capita Direct and Overlapping Debt $ 5,865
(1) Source: First Southwest Company
(2) Excludes self supported debt
(3)Overlapping governments are those that coincide, at least in part,with the geographic boundaries of the City. This
schedule estimates the portion of the outstanding debt of those overlapping governments that is borne by the residents
and businesses of the City of wylie,Texas. This process recognizes that,when considering the government's ability to
issue and repay long-term debt,the entire debt burden borne by the residents and businesses should be taken into
account. However,this does not imply that every taxpayer is a resident,and therfore responsible for repaying the
debt,of each overlapping government.
(4) The percentage of overlapping debt applicable is estimated using taxable assessed property values. Applicable
percentages were estimated by determining the portion of the various governments taxable assessed value that is within
the government's boundaries and dividing it by the total taxable assessed value.
99
TABLE D-17
CITY OF WYLIE, TEXAS
LEGAL DEBT MARGIN INFORMATION
LAST TEN FISCAL YEARS
(UNAUDITED)
1
Fiscal Year
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
Debt Limit $ 73,101,228 $ 77,160,814 $ 86,151,952 $ 98,316,670 $ 113,213,283 $ 135,497,032 $ 155,220,182 $ 184,161,840 $ 234,374,571 $ 790,054,078
Total Net Debt Applicable to Limit 12,786,702 13,232,033 15,973,030 16,921,504 20,782,305 22,427,338 15,833,191 14,515,653 25,077,022 53,613,889
Legal Debt Margin 60,314,526 63,928,781 70,178,922 81,395,166 92,430,978 113,069,694 139,386,991 169,646,187 209,297,549 736,440,189
Total Net Debt Applicable to the Limit
Asa Percentage of Debt Limit 17.49% 17.15% 18.54% 17.21% 18.36% 16.55% 10.20% 7.88% 10.70% 6.79%
Legal Debt Margin Calculation for the Current Fiscal Year
Assessed Value $ 1,785,589,736
Debt Limit(10%of Assessed Value) 178,558,974
Debt Applicable to Limit:
General Obligation Bonds 53,613,889
Less:Amount Set Aside for Repayment of
General Obligation Debt (1,245,844)
Total Net Debt applicable to Limit 52,368,045
Legal Debt Margin $ 126,190,929
(1) Under state law,the City of Wylie,Texas'outstanding general obligation debt should not exceed 10 percent
of total assessed property value. By law,the general obligation debt subject to the limitation may be
offset by amounts set aside for repaying general obligation bonds.
100
TABLE D-18
CITY OF WYLIE, TEXAS
PLEDGED-REVENUE COVERAGE
LAST TEN FISCAL YEARS
(UNAUDITED)
Water Revenue Bonds
Utility Less: Net
Fiscal Service Operating Available Debt Service
Year Charges(1) Expenses Revenue Principal Interest Total Coverage
1997 $ 2,994,778 $ 1,600,516 $ 1,394,262 $ — $ -- $ -- —
1998 3,412,649 1,719,850 1,692,799 -- — -- —
1999 3,594,192 1,809,362 1,784,830 -- -- — —
2000 3,958,753 2,124,943 1,833,810 40,000 73,644 113,644 16.14
2001 4,313,606 2,259,333 2,054,273 85,000 168,929 253,929 8.09
2002 4,789,856 2,636,705 2,153,151 90,000 163,411 253,411 8.50
2003 5,864,531 3,833,370 2,031,161 135,000 203,808 338,808 6.00
2004 6,776,234 3,674,258 3,101,976 140,000 198,981 338,981 9.15
2005 7,876,858 6,411,920 1,464,938 145,000 190,322 335,322 4.37
2006 8,832,060 6,925,231 1,906,829 155,000 181,339 336,339 5.67
(1) Includes total operating revenue of the Utility Enterprise Fund.
(2) Includes operating expenses of the Utility Enterprise Fund, less depreciation expense.
(3) Debt service requirements includes principal and interest payments on revenue bonds.
i
1
101
i
TABLE D-19
CITY OF WYLIE, TEXAS
DEMOGRAPHIC AND ECONOMIC STATISTICS
LAST TEN CALENDAR YEARS
(UNAUDITED)
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
Population(1) 10,700 11,550 12,400 13,190 16,711 18,350 21,350 26,150 29,800 33,000
Personal Income $ 52,407 $ 52,202 $ 50,801 $ 59,400 $ 50,000 $ 58,607 $ 67,215 $ 70,049 $ 72,570 $ 75,781
Per Capita Personal Income $ 20,035 $ 21,496 $ 24,596 $ 26,749 $ 28,333 $ 28,132 $ 27,951 $ 28,716 $ 29,738 $ 31,511
Median Age 32.4 36.3 34.1 32.9 32.9 32.7 32.8 32.8 33.0 33.6
Education Level in
Years of Schooling(2)
Less than high school graduate MA NW NW 14.2% 14.2% 14.2% 14.2% 14.2% 14.2% 14.2%
High school graduate(or equivalent) MA MA NW 26.6% 26.6% 26.6% 26.6% 26.6% 26.6% 26.6%
Some college/associate's degree MA NW NW 37.4% 37.4% 37.4% 37.4% 37.4% 37.4% 37.4%
Bachelor's degree NW NW MA 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0%
Masters,professional, or doctorate MA NW MA 4.8% 4.8% 4.8% 4.8% 4.8% 4.8% 4.8%
School Enrollment 3,871 3,996 3,984 4,608 4,975 5,718 6,256 7,903 8,948 9,800
Unemployment 2.4% 2.6% 2.5% 2.6% 5.8% 7.7% 6.9% 5.2% 4.3% 4.5%
(1) Population estimate from North Central Texas council of Governments, as modified by City staff estimates.
(2) Education per the 2000 U.S.Census.
(3) Unemployment rates from the Texas Workforce Commission website(www.twc.state.tx.us).
102
1_
TABLE D-20
CITY OF WYLIE, TEXAS
PRINCIPAL EMPLOYERS
CURRENT YEAR AND NINE YEARS AGO
(UNAUDITED)
2006 1997(1)
Percentage Percentage
of Total City of Total City
Employer Employees Rank Employment Employees Rank Employment
Sanden International 769 1 3.94% — — —
Public Education 700 2 3.58% — — —
Extruders 447 3 2.29% — — —
NTMWD 353 4 1.81% — — —
Holland Hitch company 172 5 0.88% — — —
City of Wylie 168 6 0.86% — -- —
Lone Star Circuits 150 7 0.77% — — —
Carlisle Coatings&Waterproffing 100 8 0.51% — — —
Moulding Associates, Inc. 100 9 0.51% — -- —
SunRise Care and Rehabilitation 88 10 0.45% — — —
Total 3,047 15.59% — —
(1) Information for 1997 is not available.
103
TABLE D-21
CITY OF WYLIE, TEXAS
FULL-TIME-EQUIVALENT CITY GOVERNMENT EMPLOYEES BY FUNCTION/PROGRAM
LAST TEN FISCAL YEARS
(UNAUDITED)
Full-Time-Equivalent Employees as of Year End
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
Function/Program
General Government
Management Services 4 5 5 5 6 7 7 8 8 10
Finance 6 6 6 6 6 6 6 6 6 5
Development Services 5 6 8 9 — — -- -- — —
Planning — 3 3 3 3 3 3
Building — — -- — 5 7 7 8 9 9
Other 3 2 3 3 4 4 3 3 4 4
Police
Officers 18 18 21 22 28 23 26 28 35 38
Civilians 2 3 3 3 3 3 4 5 5 5
Fire
Firefighters and Officers 11 11 13 17 18 26 27 29 30 30
Civilians 1 1 1 1 1 1 1 1 2 2
Animal Control 1 1 1 1 1 2 2 3 3 4
Dispatch 5 4 4 5 -- 7 7 8 10 10
Streets 5 5 5 5 6 6 8 8 11 11
Other Public Works
Engineering -- — — -- 3 3 3 3 4 4
Other 7 7 8 11 9 11 11 11 13 13
Parks and Recreation 5 7 7 10 14 14 18 20 23 23
Library 5 5 5 6 6 6 6 6 7 8
Water 8 8 8 8 8 9 11 10 11 11
Wastewater — -- — — -- — -- 4 5 5
EDC 2 2 2 2 2 2 1 1 1 1
Total 88 91 100 114 123 140 151 165 190 196
104
1
CITY OF WYLIE, TEXAS TABLE D-22
OPERATING INDICATORS BY FUNCTION/PROGRAM
LAST TEN FISCAL YEARS
(UNAUDITED)
Fiscal Year
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
Function/Program
General Government
Building Permits Issued 176 287 332 409 634 974 1,430 1,282 1,203 1100
Building Permits Value 17,004,307 31,784,817 36,253,037 48,971,298 83,528,866 149,261,595 189,835,081 173,349,315 145,747,742 170,732,405
Police
Violation Issued 3,639 3,283 3,421 5,690 4,928 5,200 4,301 3,966 3,044 6068
Warrants Issued 131 937 768 898 740 715 230 378 1,664 1062
Arrests 626 585 824 793 851 732 720 741 706 923
Fire
Emergency Responses 771 781 972 1,332 1,303 1,312 1,658 1,698 1,935 2,107
Fires Extinguished 70 95 124 119 115 108 138 164 209 172
Inspections 399 438 438 392 443 329 445 596 527 549
Other Public Works
Street Resurfacing(miles) 4 1 2 4 0 1 4 5 0 4.93
Potholes Repaired 0 0 0 0 0 0 0 0 216 240
Parks and Recreation
Athletic Field Permits Issued 0 0 0 0 0 0 0 25 34 18
Community Center Admissic 0 0 0 0 0 0 14,280 19,044 20,349 14173
Baseball/Softball Fields 6 6 8 8 8 8 8 8 9 9
Soccer/Football Fields 7 7 14 14 14 14 14 14 16 16
Library
Volumes in Collection 35,695 40,494 41,209 38,247 42,997 44,000 46,166 47,251 49393 50,393
Water
New Connections 176 287 332 409 634 974 1,430 1,282 1,020 1100
Water Main Breaks 12 11 18 10 17 21 26 17 16 24
Average Daily Consumption
(gallons) 2610000 1540000 2040000 2570000 2485838 2382036 3,049,411 3487193 4076730 3991080
105
0
6
TABLE D-23
CITY OF WYLIE, TEXAS
CAPITAL ASSET STATISTICS BY FUNCTION/PROGRAM
LAST TEN FISCAL YEARS
(UNAUDITED)
Fiscal Year
1997 1998 1999 2000 2001 2092 2003 2004 2005 2006
Function/Program
Police Stations 1 1 1 1 1 1 1 1 1 1
Fire Stations 2 2 2 2 2 2 2 2 2 2
Other Public Works
Streets(miles) 41 41 54 70 76 76 114 114 127 127
Alleys(miles) -- -- -- 6 6 12 12
Traffic Signals 3 3 3 3 3 3 10 10 10 10
Parks and Recreation
Acreage 103 103 170 170 175 213 224 239 279 541
Playgrounds 4 4 4 4 5 8 8 9 11 11
Community Centers 1 1 1 1 1 1 1 1 1 1
Water
Water Mains(miles) 54 5 70 90 100 100 8 108 110 110
Fire Hydrants 456 456 682 800 800 800 1,084 1,242 1,242 1,242
Number of service connections 3,847 4,105 4,528 4,528 5,221 6,591 7,901 8,841 9,645 9,645
Wastewater
Sanitary Sewers(miles) 60 60 85 100 108 108 114 114 123 130
Education Wylie ISD
Campuses in Wylie 6 6 7 7 7 8 9 11 12 13
106
Wylie City Council
CITY OF WYLIE AGENDA REPORT
Meeting Date: March 27, 2007 Item Number: 3
Department: Finance (City Secretary's Use Only)
Prepared By: Larry Williamson Account Code:
Date Prepared: March 19, 2007 Budgeted Amount:
Ordinance, List of Projects,
Exhibits: Timetable and Number Runs
Subject
Consider, and act upon, all matters incident and related to the issuance and sale of "City of Wylie, Texas,
Combination Tax and Revenue Certificates of Obligation, Series 2007", including the adoption of Ordinance
No. 2007-09 authorizing the issuance of such certificates of obligation.
Recommendation
Motion to approve all matters incident and related to the issuance and sale of "City of Wylie, Texas,
Combination Tax and Revenue Certificates of Obligation, Series 2007", including the adoption of Ordinance
No. 2007-09 authorizing the issuance of such certificates of obligation.
Discussion
The City approved a 5 year Capital Improvement Plan (CIP) for water and sewer projects and identified certain
projects as being funded with Certificates of Obligations. The debt service for these bonds was included in the
City's Water Rate Study. This ordinance authorizes the sale of these bonds to the underwriters, with closing
scheduled for early May 2007. A list of projects being funded with the bond proceeds is attached for your
review as well as a timetable and ordinance.
Approved By
Initial Date
Department Director LW 3/19/07
City Manager i// i ,3 / a, (07
Page 1 of 1
ORDINANCE NO. 2007-09
AN ORDINANCE AUTHORIZING THE ISSUANCE OF "CITY OF WYLIE,
TEXAS, COMBINATION TAX AND REVENUE CERTIFICATES OF
OBLIGATION, SERIES 2007"; SPECIFYING THE TERMS AND FEATURES
OF SAID CERTIFICATES; PROVIDING FOR THE PAYMENT OF SAID
CERTIFICATES OF OBLIGATION BY THE LEVY OF AN AD VALOREM TAX
UPON ALL TAXABLE PROPERTY WITHIN THE CITY AND A LIMITED
PLEDGE OF THE NET REVENUES FROM THE OPERATION OF THE CITY'S
WATERWORKS AND SEWER SYSTEM; AND RESOLVING OTHER
MATTERS INCIDENT AND RELATING TO THE ISSUANCE, PAYMENT,
SECURITY, SALE AND DELIVERY OF SAID CERTIFICATES, INCLUDING
THE APPROVAL AND EXECUTION OF A PAYING AGENT/REGISTRAR
AGREEMENT AND A PURCHASE CONTRACT AND THE APPROVAL AND
DISTRIBUTION OF AN OFFICIAL STATEMENT; AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS, notice of the City Council's intention to issue certificates of obligation in the
maximum principal amount of$7,750,000 for the purpose of paying contractual obligations to be
incurred for the construction of public works, to wit: improvements and extensions to the City's
combined Waterworks and Sewer System, and to pay contractual obligations for professional
services rendered in relation to such projects and the financing thereof; has been duly published
in The Wylie News on , 2007 and , 2007, the date the first
publication of such notice being not less than fifteen (15) days prior to the tentative date stated
therein for the adoption of the ordinance authorizing the issuance of such certificates; and
WHEREAS, no petition protesting the issuance of the certificates of obligation and
bearing valid petition signatures of at least 5% of the qualified electors of the City, has been
presented to or filed with the Mayor, City Secretary or any other official of the City on or prior to
the date of the passage of this ordinance; and
WHEREAS, the Council hereby finds and determines that the certificates of obligation
described in the aforesaid notice should be issued and sold at this time in the amount and
manner as hereinafter provided.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
WYLIE,TEXAS:
SECTION 1: Authorization, Designation, Principal Amount, Purpose. Certificates of
obligation of the City shall be and are hereby authorized to be issued in the aggregate principal
amount of $7,675,000, to be designated and bear the title "CITY OF WYLIE, TEXAS,
COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION, SERIES 2007"
(hereinafter referred to as the "Certificates"), for the purpose of paying contractual obligations to
be incurred for the construction of public works, to wit: improvements and extensions to the
City's combined Waterworks and Sewer System, and to pay contractual obligations for
professional services rendered in relation to such projects and the financing thereof; pursuant to
authority conferred by and in conformity with the Constitution and laws of the State of Texas,
including V.T.C.A., Local Government Code, Subchapter C of Chapter 271, as amended.
SECTION 2: Fully Registered Obligations - Authorized Denominations-Stated
Maturities-Date. The Certificates are issuable in fully registered form only; shall be dated
March 15, 2007 (the "Certificate Date") and shall be in denominations of $5,000 or any integral
multiple thereof (within a Stated Maturity) and the Certificates shall become due and payable on
February 15 in each of the years and in principal amounts (the "Stated Maturities") and bear
interest at the per annum rate(s) in accordance with the following schedule:
Ordinance No.2007-09
Combination Tax and Revenue Certifications of Obligation
45889344.1 /10613025
Year of Principal Interest
Stated Maturity Amount Rate(s)
2008 $100,000
2009 255,000
2010 265,000
2011 280,000
2012 290,000
2013 305,000
2014 320,000
2015 335,000
2016 350,000
2017 370,000
2018 385,000
2019 405,000
2020 425,000
2021 445,000
2022 465,000
2023 490,000
2024 510,000
2025 535,000
2026 560,000
2027 585,000
The Certificates shall bear interest on the unpaid principal amounts from the Certificate
Date at the rate per annum shown above in this Section (calculated on the basis of a 360-day
year of twelve 30-day months), and such interest shall be payable on February 15 and August
15 of each year, commencing February 15, 2008.
SECTION 3: Terms of Payment-Paving Agent/Registrar. The principal of, premium, if
any, and the interest on the Certificates, due and payable by reason of maturity, redemption, or
otherwise, shall be payable only to the registered owners or holders of the Certificates
(hereinafter called the"Holders") appearing on the registration and transfer books maintained by
the Paying Agent/Registrar and the payment thereof shall be in any coin or currency of the
United States of America, which at the time of payment is legal tender for the payment of public
and private debts, and shall be without exchange or collection charges to the Holders.
The selection and appointment of The Bank of New York Trust Company, N.A., Dallas,
Texas, to serve as Paying Agent/Registrar for the Certificates is hereby approved and
confirmed. Books and records relating to the registration, payment, transfer and exchange of
the Certificates (the "Security Register") shall at all times be kept and maintained on behalf of
the City by the Paying Agent/Registrar, as provided herein and in accordance with the terms
and provisions of a "Paying Agent/Registrar Agreement", substantially in the form attached
hereto as Exhibit A, and such reasonable rules and regulations as the Paying Agent/Registrar
and the City may prescribe. The Mayor and City Secretary are authorized to execute and
deliver such Agreement in connection with the delivery of the Certificates. The City covenants
to maintain and provide a Paying Agent/Registrar at all times until the Certificates are paid and
discharged, and any successor Paying Agent/Registrar shall be a bank, trust company, financial
institution or other entity qualified and authorized to serve in such capacity and perform the
duties and services of Paying Agent/Registrar. Upon any change in the Paying Agent/Registrar
for the Certificates, the City agrees to promptly cause a written notice thereof to be sent to each
45889344.1/10613025 2
Ordinance No.2007-09
Combination Tax and Revenue Certifications of Obligation
Holder by United States Mail, first class postage prepaid, which notice shall also give the
address of the new Paying Agent/Registrar.
Principal of and premium, if any, on the Certificates shall be payable at the Stated
Maturities or the redemption thereof only upon presentation and surrender of the Certificates to
the Paying Agent/Registrar at its designated offices in Dallas, Texas (the "Designated
Payment/Transfer Office"). Interest on the Certificates shall be paid to the Holders whose name
appears in the Security Register at the close of business on the Record Date (the last business
day of the month next preceding each interest payment date) and shall be paid by the Paying
Agent/Registrar (i) by check sent United States Mail, first class postage prepaid, to the address
of the Holder recorded in the Security Register or (ii) by such other method, acceptable to the
Paying Agent/Registrar, requested by, and at the risk and expense of, the Holder. If the date for
the payment of the principal of or interest on the Certificates shall be a Saturday, Sunday, a
legal holiday, or a day when banking institutions in the city where the Designated
Payment/Transfer Office of the Paying Agent/Registrar is located are authorized by law or
executive order to close, then the date for such payment shall be the next succeeding day which
is not such a Saturday, Sunday, legal holiday, or day when banking institutions are authorized to
close; and payment on such date shall have the same force and effect as if made on the original
date payment was due.
In the event of a nonpayment of interest on a scheduled payment date, and for thirty (30)
days thereafter, a new record date for such interest payment (a "Special Record Date") will be
established by the Paying Agent/Registrar, if and when funds for the payment of such interest
have been received from the City. Notice of the Special Record Date and of the scheduled
payment date of the past due interest (which shall be 15 days after the Special Record Date)
shall be sent at least five (5) business days prior to the Special Record Date by United States
Mail, first class postage prepaid, to the address of each Holder appearing on the Security
Register at the close of business on the last business next preceding the date of mailing of such
notice.
SECTION 4: Redemption.
(a) Optional Redemption. The Certificates maturing on and after February 15, 2018
shall be subject to redemption prior to maturity, at the option of the City, in whole or in part in
principal amounts of$5,000 or any integral multiple thereof(and if within a Stated Maturity by lot
by the Paying Agent/Registrar), on February 15, 2017, or on any date thereafter at the
redemption price of par plus accrued interest to the date of redemption.
(b) Exercise of Redemption Option. At least forty-five (45) days prior to a
redemption date for the Certificates (unless a shorter notification period shall be satisfactory to
the Paying Agent/Registrar), the City shall notify the Paying Agent/Registrar of the decision to
redeem Certificates, the principal amount of each Stated Maturity to be redeemed, and the date
of redemption therefor. The decision of the City to exercise the right to redeem Certificates shall
be entered in the minutes of the governing body of the City.
(c) Selection of Certificates for Redemption. If less than all Outstanding Certificates
of the same Stated Maturity are to be redeemed on a redemption date, the Paying
Agent/Registrar shall treat such Certificates as representing the number of Certificates
Outstanding which is obtained by dividing the principal amount of such Certificates by $5,000
and shall select the Certificates to be redeemed within such Stated Maturity by lot.
45889344.1/10613025 3
Ordinance No.2007-09
Combination Tax and Revenue Certifications of Obligation
(d) Notice of Redemption. Not less than thirty (30) days prior to a redemption date
for the Certificates, a notice of redemption shall be sent by United States Mail, first class
postage prepaid, in the name of the City and at the City's expense, to each Holder of a
Certificate to be redeemed in whole or in part at the address of the Holder appearing on the
Security Register at the close of business on the business day next preceding the date of
mailing such notice, and any notice of redemption so mailed shall be conclusively presumed to
have been duly given irrespective of whether received by the Holder.
All notices of redemption shall (i) specify the date of redemption for the Certificates, (ii)
identify the Certificates to be redeemed and, in the case of a portion of the principal amount to
be redeemed, the principal amount thereof to be redeemed, (iii) state the redemption price,
(iv) state that the Certificates, or the portion of the principal amount thereof to be redeemed,
shall become due and payable on the redemption date specified and the interest thereon, or on
the portion of the principal amount thereof to be redeemed, shall cease to accrue from and after
the redemption date, provided moneys sufficient for the payment of such Certificate (or the
principal amount thereof to be redeemed) at the then applicable redemption price are held for
the purpose of such payment by the Paying Agent/Registrar and (v) specify that payment of the
redemption price for the Certificates, or the principal amount thereof to be redeemed, shall be
made at the Designated Payment/Transfer Office of the Paying Agent/Registrar only upon
presentation and surrender of the Certificates. If a Certificate is subject by its terms to prior
redemption and has been called for redemption and notice of redemption has been duly given
as hereinabove provided, such Certificate (or the principal amount thereof to be redeemed) shall
become due and payable and interest thereon shall cease to accrue from and after the
redemption date therefor.
SECTION 5: Registration - Transfer - Exchange of Certificates-Predecessor
Certificates. The Paying Agent/Registrar shall obtain, record, and maintain in the Security
Register the name and address of each and every owner of the Certificates issued under and
pursuant to the provisions of this Ordinance, or if appropriate, the nominee thereof. Any
Certificate may be transferred or exchanged for Certificates of other authorized denominations
by the Holder, in person or by his duly authorized agent, upon surrender of such Certificate to
the Paying Agent/Registrar for cancellation, accompanied by a written instrument of transfer or
request for exchange duly executed by the Holder or by his duly authorized agent, in form
satisfactory to the Paying Agent/Registrar.
Upon surrender of any Certificate (other than the Initial Certificate(s) authorized in
Section 8 hereof) for transfer at the Designated Payment/Transfer Office of the Paying
Agent/Registrar, the Paying Agent/Registrar shall register and deliver, in the name of the
designated transferee or transferees, one or more new Certificates of authorized denominations
and having the same Stated Maturity and of a like aggregate principal amount as the Certificate
or Certificates surrendered for transfer.
At the option of the Holder, Certificates (other than the Initial Certificate(s) authorized in
Section 8 hereof) may be exchanged for other Certificates of authorized denominations and
having the same Stated Maturity, bearing the same rate of interest and of like aggregate
principal amount as the Certificates surrendered for exchange, upon surrender of the
Certificates to be exchanged at the Designated Payment/Transfer Office of the Paying
Agent/Registrar. Whenever any Certificates are surrendered for exchange, the Paying
Agent/Registrar shall register and deliver new Certificates to the Holder requesting the
exchange.
45889344.1/10613025 4
Ordinance No.2007-09
Combination Tax and Revenue Certifications of Obligation
All Certificates issued in any transfer or exchange of Certificates shall be delivered to the
Holders at the Designated Payment/Transfer Office of the Paying Agent/Registrar or sent by
United States Mail, first class, postage prepaid to the Holders, and, upon the registration and
delivery thereof, the same shall be the valid obligations of the City, evidencing the same
obligation to pay, and entitled to the same benefits under this Ordinance, as the Certificates
surrendered in such transfer or exchange.
All transfers or exchanges of Certificates pursuant to this Section shall be made without
expense or service charge to the Holder, except as otherwise herein provided, and except that
the Paying Agent/Registrar shall require payment by the Holder requesting such transfer or
exchange of any tax or other governmental charges required to be paid with respect to such
transfer or exchange.
Certificates cancelled by reason of an exchange or transfer pursuant to the provisions
hereof are hereby defined to be "Predecessor Certificates," evidencing all or a portion, as the
case may be, of the same obligation to pay evidenced by the new Certificate or Certificates
registered and delivered in the exchange or transfer therefor. Additionally, the term
"Predecessor Certificates" shall include any mutilated, lost, destroyed, or stolen Certificate for
which a replacement Certificate has been issued, registered and delivered in lieu thereof
pursuant to the provisions of Section 19 hereof and such new replacement Certificate shall be
deemed to evidence the same obligation as the mutilated, lost, destroyed, or stolen Certificate.
Neither the City nor the Paying Agent/Registrar shall be required to issue or transfer to
an assignee of a Holder any Certificate called for redemption, in whole or in part, within 45 days
of the date fixed for the redemption of such Certificate; provided, however, such limitation on
transferability shall not be applicable to an exchange by the Holder of the unredeemed balance
of a Certificate called for redemption in part.
SECTION 6: Book-Entry Only Transfers and Transactions. Notwithstanding the
provisions contained in Sections 3, 4 and 5 hereof relating to the payment, and
transfer/exchange of the Certificates, the City hereby approves and authorizes the use of
"Book-Entry Only" securities clearance, settlement and transfer system provided by The
Depository Trust Company (DTC), a limited purpose trust company organized under the laws of
the State of New York, in accordance with the operational arrangements referenced in the
Blanket Issuer Letter of Representation, by and between the City and DTC (the "Depository
Agreement").
Pursuant to the Depository Agreement and the rules of DTC, the Certificates shall be
deposited with DTC who shall hold said Certificates for its participants (the "DTC Participants").
While the Certificates are held by DTC under the Depository Agreement, the Holder of the
Certificates on the Security Register for all purposes, including payment and notices, shall be
Cede & Co., as nominee of DTC, notwithstanding the ownership of each actual purchaser or
owner of each Certificate (the "Beneficial Owners") being recorded in the records of DTC and
DTC Participants.
In the event DTC determines to discontinue serving as securities depository for the
Certificates or otherwise ceases to provide book-entry clearance and settlement of securities
transactions in general or the City determines that DTC is incapable of properly discharging its
duties as securities depository for the Certificates, the City covenants and agrees with the
Holders of the Certificates to cause Certificates to be printed in definitive form and provide for
the Certificate certificates to be issued and delivered to DTC Participants and Beneficial
45889344.1/10613025 5
Ordinance No.2007-09
Combination Tax and Revenue Certifications of Obligation
Owners, as the case may be. Thereafter, the Certificates in definitive form shall be assigned,
transferred and exchanged on the Security Register maintained by the Paying Agent/Registrar
and payment of such Certificates shall be made in accordance with the provisions of Sections 3,
4 and 5 hereof.
SECTION 7: Execution - Registration. The Certificates shall be executed on behalf of
the City by the Mayor under its seal reproduced or impressed thereon and countersigned by the
City Secretary. The signature of said officers on the Certificates may be manual or facsimile.
Certificates bearing the manual or facsimile signatures of individuals who are or were the proper
officers of the City on the Certificate Date shall be deemed to be duly executed on behalf of the
City, notwithstanding that one or more of the individuals executing the same shall cease to be
such officer at the time of delivery of the Certificates to the initial purchaser(s) and with respect
to Certificates delivered in subsequent exchanges and transfers, all as authorized and provided
in V.T.C.A., Government Code, Chapter 1201, as amended.
No Certificate shall be entitled to any right or benefit under this Ordinance, or be valid or
obligatory for any purpose, unless there appears on such Certificate either a certificate of
registration substantially in the form provided in Section 9(c), manually executed by the
Comptroller of Public Accounts of the State of Texas, or his duly authorized agent, or a
certificate of registration substantially in the form provided in Section 9(d), manually executed by
an authorized officer, employee or representative of the Paying Agent/Registrar, and either such
certificate duly signed upon any Certificate shall be conclusive evidence, and the only evidence,
that such Certificate has been duly certified, registered and delivered.
SECTION 8: Initial Certificate(s). The Certificates herein authorized shall be initially
issued either (i) as a single fully registered certificate in the total principal amount stated in
Section 1 hereof with principal installments to become due and payable as provided in Section 2
hereof and numbered T-1, or(ii) as multiple fully registered certificates, being one certificate for
each year of maturity in the applicable principal amount and denomination and to be numbered
consecutively from T-1 and upward (hereinafter called the "Initial Certificates)") and, in either
case, the Initial Certificate(s) shall be registered in the name of the initial purchaser(s) or the
designee thereof. The Initial Certificate(s) shall be the Certificates submitted to the Office of the
Attorney General of the State of Texas for approval, certified and registered by the Office of the
Comptroller of Public Accounts of the State of Texas and delivered to the initial purchaser(s).
Any time after the delivery of the Initial Certificate(s), the Paying Agent/Registrar, pursuant to
written instructions from the initial purchaser(s), or the designee thereof, shall cancel the Initial
Certificate(s) delivered hereunder and exchange therefor definitive Certificates of authorized
denominations, Stated Maturities, principal amounts and bearing applicable interest rates for
transfer and delivery to the Holders named at the addresses identified therefor; all pursuant to
and in accordance with such written instructions from the initial purchaser(s), or the designee
thereof, and such other information and documentation as the Paying Agent/Registrar may
reasonably require.
SECTION 9: Forms.
(a) Forms Generally. The Certificates, the Registration Certificate of the Comptroller
of Public Accounts of the State of Texas, the Registration Certificate of Paying Agent/Registrar,
and the form of Assignment to be printed on each of the Certificates, shall be substantially in the
forms set forth in this Section with such appropriate insertions, omissions, substitutions, and
other variations as are permitted or required by this Ordinance and may have such letters,
numbers, or other marks of identification (including identifying numbers and letters of the
45889344.1/10613025 6
Ordinance No.2007-09
Combination Tax and Revenue Certifications of Obligation
Committee on Uniform Securities Identification Procedures of the American Bankers
Association) and such legends and endorsements (including insurance legends in the event the
Certificates, or any maturities thereof, are purchased with insurance and any reproduction of an
opinion of counsel) thereon as may, consistently herewith, be established by the City or
determined by the officers executing such Certificates as evidenced by their execution. Any
portion of the text of any Certificates may be set forth on the reverse thereof, with an
appropriate reference thereto on the face of the certificate.
The definitive Certificates and the Initial Certificate(s) shall be printed, lithographed, or
engraved, typewritten, photocopied or otherwise reproduced in any other similar manner, all as
determined by the officers executing such Certificates as evidenced by their execution.
(b) Form of Certificates.
REGISTERED REGISTERED
NO. $
UNITED STATES OF AMERICA
STATE OF TEXAS
CITY OF WYLIE, TEXAS,
COMBINATION TAX AND REVENUE
CERTIFICATE OF OBLIGATION, SERIES 2007
Certificate Date: Interest Rate: Stated Maturity: CUSIP NO:
March 15, 2007 % February 15,
Registered Owner:
Principal Amount: DOLLARS
The City of Wylie (hereinafter referred to as the "City"), a body corporate and municipal
corporation in the County of Collin, State of Texas, for value received, acknowledges itself
indebted to and hereby promises to pay to the order of the Registered Owner named above, or
the registered assigns thereof, on the Stated Maturity date specified above the Principal Amount
hereinabove stated (or so much thereof as shall not have been paid upon prior redemption) and
to pay interest on the unpaid principal amount hereof from the interest payment date next
preceding the "Registration Date" of this Certificate appearing below (unless this Certificate
bears a "Registration Date" as of an interest payment date, in which case it shall bear interest
from such date, or unless the "Registration Date" of this Certificate is prior to the initial interest
payment date in which case it shall bear interest from the Certificate Date) at the per annum
rate of interest specified above computed on the basis of a 360-day year of twelve 30-day
months; such interest being payable on February 15 and August 15 in each year, commencing
February 15, 2008. Principal of this Certificate is payable at its Stated Maturity or redemption to
the registered owner hereof, upon presentation and surrender, at the Designated
Payment/Transfer Office of the Paying Agent/Registrar executing the registration certificate
appearing hereon, or its successor; provided, however, while this Certificate is registered to
Cede & Co., the payment of principal upon a partial redemption of the principal amount hereof
may be accomplished without presentation and surrender of this Certificate. Interest is payable
to the registered owner of this Certificate(or one or more Predecessor Certificates, as defined in
the Ordinance hereinafter referenced) whose name appears on the "Security Register"
maintained by the Paying Agent/Registrar at the close of business on the"Record Date", which
45889344.1/10613025 7
Ordinance No.2007-09
Combination Tax and Revenue Certifications of Obligation
is the last business day of the month next preceding each interest payment date, and interest
shall be paid by the Paying Agent/Registrar by check sent United States Mail, first class postage
prepaid, to the address of the registered owner recorded in the Security Register or by such
other method, acceptable to the Paying Agent/Registrar, requested by, and at the risk and
expense of, the registered owner. If the date for the payment of the principal of or interest on
the Certificates shall be a Saturday, Sunday, a legal holiday, or a day when banking institutions
in the city where the Designated Payment/Transfer Office of the Paying Agent/Registrar is
located are authorized by law or executive order to close, then the date for such payment shall
be the next succeeding day which is not such a Saturday, Sunday, legal holiday, or day when
banking institutions are authorized to close; and payment on such date shall have the same
force and effect as if made on the original date payment was due. All payments of principal of,
premium, if any, and interest on this Certificate shall be without exchange or collection charges
to the owner hereof and in any coin or currency of the United States of America which at the
time of payment is legal tender for the payment of public and private debts.
This Certificate is one of the series specified in its title issued in the aggregate principal
amount of $7,675,000 (herein referred to as the "Certificates") for the purpose of paying
contractual obligations to be incurred for the construction of public works, to wit: improvements
and extensions to the City's combined Waterworks and Sewer System, and to pay contractual
obligations for professional services rendered in relation to such projects and the financing
thereof; under and in strict conformity with the Constitution and laws of the State of Texas,
particularly V.T.C.A., Local Government Code, Subchapter C of Chapter 271, as amended, and
pursuant to an Ordinance adopted by the City Council of the City (herein referred to as the
"Ordinance").
The Certificates maturing on and after February 15, 2018, may be redeemed prior to
their Stated Maturities, at the option of the City, in whole or in part in principal amounts of
$5,000 or any integral multiple thereof (and if within a Stated Maturity by lot by the Paying
Agent/Registrar), on February 15, 2017, or on any date thereafter, at the redemption price of
par, together with accrued interest to the date of redemption.
At least thirty days prior to a redemption date, the City shall cause a written notice of
such redemption to be sent by United States Mail, first class postage prepaid, to the registered
owners of each Certificate to be redeemed at the address shown on the Security Register and
subject to the terms and provisions relating thereto contained in the Ordinance. If a Certificate
(or any portion of its principal sum) shall have been duly called for redemption and notice of
such redemption duly given, then upon the redemption date such Certificate (or the portion of its
principal sum to be redeemed) shall become due and payable, and, if moneys for the payment
of the redemption price and the interest accrued on the principal amount to be redeemed to the
date of redemption are held for the purpose of such payment by the Paying Agent/Registrar,
interest shall cease to accrue and be payable from and after the redemption date on the
principal amount redeemed.
In the event a portion of the principal amount of a Certificate is to be redeemed and the
registered owner is someone other than Cede & Co., payment of the redemption price of such
principal amount shall be made to the registered owner only upon presentation and surrender of
such Certificate to the Designated Payment/Transfer Office of the Paying Agent/Registrar, and a
new Certificate or Certificates of like maturity and interest rate in any authorized denominations
provided by the Ordinance for the then unredeemed balance of the principal sum thereof will be
issued to the registered owner, without charge. If a Certificate is selected for redemption, in
whole or in part, the City and the Paying Agent/Registrar shall not be required to transfer such
45889344.1/10613025 8
Ordinance No.2007-09
Combination Tax and Revenue Certifications of Obligation
Certificate to an assignee of the registered owner within 45 days of the redemption date
therefor; provided, however, such limitation on transferability shall not be applicable to an
exchange by the registered owner of the unredeemed balance of a Certificate redeemed in part.
The Certificates are payable from the proceeds of an ad valorem tax levied, within the
limitations prescribed by law, upon all taxable property in the City and from a limited pledge of
the Net Revenues (as defined in the Ordinance) of the City's combined Waterworks and
Sanitary Sewer System (the "System"), such pledge of the Net Revenues for the payment of the
Certificates being limited to an amount of$1,000 and, together with a parity pledge securing the
payment of the Previously Issued Certificates, being junior and subordinate to the lien on and
pledge of such Net Revenues securing the payment of "Prior Lien Obligations" (as defined in
the Ordinance) now outstanding and hereafter issued by the City. In the Ordinance, the City
reserves and retains the right to issue Prior Lien Obligations without limitation as to principal
amount but subject to any applicable terms, conditions or restrictions under law or otherwise.
Reference is hereby made to the Ordinance, a copy of which is on file in the Designated
Payment/Transfer Office of the Paying Agent/Registrar, and to all the provisions of which the
owner or holder of this Certificate by the acceptance hereof hereby assents, for definitions of
terms; the description of and the nature and extent of the tax levied for the payment of the
Certificates; the Net Revenues pledged to the payment of the principal of and interest on the
Certificates; the nature and extent and manner of enforcement of the pledge; the terms and
conditions relating to the transfer or exchange of this Certificate; the conditions upon which the
Ordinance may be amended or supplemented with or without the consent of the Holders; the
rights, duties, and obligations of the City and the Paying Agent/Registrar; the terms and
provisions upon which the tax levy and the pledges, charges and covenants made therein may
be discharged at or prior to the maturity of this Certificate, and this Certificate deemed to be no
longer Outstanding thereunder; and for the other terms and provisions contained therein.
Capitalized terms used herein have the meanings assigned in the Ordinance.
This Certificate, subject to certain limitations contained in the Ordinance, may be
transferred on the Security Register only upon its presentation and surrender at the Designated
Payment/Transfer Office of the Paying Agent/Registrar, with the Assignment hereon duly
endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the
Paying Agent/Registrar duly executed by, the registered owner hereof, or his duly authorized
agent. When a transfer on the Security Register occurs, one or more new fully registered
Certificates of the same Stated Maturity, of authorized denominations, bearing the same rate of
interest, and of the same aggregate principal amount will be issued by the Paying
Agent/Registrar to the designated transferee or transferees.
The City and the Paying Agent/Registrar, and any agent of either, shall treat the
registered owner whose name appears on the Security Register (i) on the Record Date as the
owner entitled to payment of interest hereon, (ii) on the date of surrender of this Certificate as
the owner entitled to payment of principal hereof at its Stated Maturity or its redemption, in
whole or in part, and (iii) on any other date as the owner for all other purposes, and neither the
City nor the Paying Agent/Registrar, or any agent of either, shall be affected by notice to the
contrary. In the event of nonpayment of interest on a scheduled payment date and for thirty (30)
days thereafter, a new record date for such interest payment (a "Special Record Date") will be
established by the Paying Agent/Registrar, if and when funds for the payment of such interest
have been received from the City. Notice of the Special Record Date and of the scheduled
payment date of the past due interest (which shall be 15 days after the Special Record Date)
shall be sent at least five (5) business days prior to the Special Record Date by United States
45889344.1/10613025 9
Ordinance No.2007-09
Combination Tax and Revenue Certifications of Obligation
Mail, first class postage prepaid, to the address of each Holder appearing on the Security
Register at the close of business on the last business day next preceding the date of mailing of
such notice.
It is hereby certified, recited, represented and declared that the City is a body corporate
and political subdivision duly organized and legally existing under and by virtue of the
Constitution and laws of the State of Texas; that the issuance of the Certificates is duly
authorized by law; that all acts, conditions and things required to exist and be done precedent to
and in the issuance of the Certificates to render the same lawful and valid obligations of the City
have been properly done, have happened and have been performed in regular and due time,
form and manner as required by the Constitution and laws of the State of Texas, and the
Ordinance; that the Certificates do not exceed any Constitutional or statutory limitation; and that
due provision has been made for the payment of the principal of and interest on the Certificates
as aforestated. In case any provision in this Certificate shall be invalid, illegal, or unenforceable,
the validity, legality, and enforceability of the remaining provisions shall not in any way be
affected or impaired thereby. The terms and provisions of this Certificate and the Ordinance
shall be construed in accordance with and shall be governed by the laws of the State of Texas.
IN WITNESS WHEREOF, the City Council of the City has caused this Certificate to be
duly executed under the official seal of the City as of the Certificate Date.
CITY OF WYLIE, TEXAS
Mayor
COUNTERSIGNED:
City Secretary
(Seal)
45889344.1/10613025 10
Ordinance No.2007-09
Combination Tax and Revenue Certifications of Obligation
(c) Form of Registration Certificate of Comptroller of Public Accounts to appear on
Initial Certificate(s) only.
REGISTRATION CERTIFICATE OF
COMPTROLLER OF PUBLIC ACCOUNTS
OFFICE OF THE COMPTROLLER )
OF PUBLIC ACCOUNTS ) REGISTER NO.
THE STATE OF TEXAS )
I HEREBY CERTIFY that this Certificate has been examined, certified as to validity and
approved by the Attorney General of the State of Texas, and duly registered by the Comptroller
of Public Accounts of the State of Texas.
WITNESS my signature and seal of office this .
Comptroller of Public Accounts
of the State of Texas
(SEAL)
(d) Form of Certificate of Paying Agent/Registrar to appear on Definitive Certificates
only.
REGISTRATION CERTIFICATE OF PAYING AGENT/REGISTRAR
This Certificate has been duly issued and registered under the provisions of the
within-mentioned Ordinance; the certificate or certificates of the above entitled and designated
series originally delivered having been approved by the Attorney General of the State of Texas
and registered by the Comptroller of Public Accounts, as shown by the records of the Paying
Agent/Registrar.
The designated office of the Paying Agent/Registrar located in Dallas, Texas, is the
"Designated Payment/Transfer Office"for this Certificate.
THE BANK OF NEW YORK TRUST
COMPANY, N.A., Dallas, Texas,
as Paying Agent/Registrar
Registration Date:
By
Authorized Signature
45889344.1/10613025 11
Ordinance No.2007-09
Combination Tax and Revenue Certifications of Obligation
(e) Form of Assignment.
ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sells, assigns, and transfers unto
(Print or typewrite name, address, and zip code of transferee:)
(Social Security or other identifying number ) the within
Certificate and all rights thereunder, and hereby irrevocably constitutes and appoints
attorney to transfer the within Certificate on the books kept for registration thereof, with full
power of substitution in the premises.
DATED:
NOTICE: The signature on this
assignment must correspond with the
name of the registered owner as it
Signature guaranteed: appears on the face of the within
Certificate in every particular.
(f) The Initial Certificate(s) shall be in the form set forth in paragraph (b) of this
Section, except that the form of a single fully registered Initial Certificate shall be modified
as follows:
REGISTERED REGISTERED
NO. T-1 $
UNITED STATES OF AMERICA
STATE OF TEXAS
CITY OF WYLIE, TEXAS,
COMBINATION TAX AND REVENUE
CERTIFICATE OF OBLIGATION, SERIES 2007
Certificate Date: March 15, 2007
Registered Owner:
Principal Amount: DOLLARS
The City of Wylie (hereinafter referred to as the "City"), a body corporate and municipal
corporation in the County of Collin, State of Texas, for value received, acknowledges itself
indebted to and hereby promises to pay to the order of the Registered Owner named above, or
the registered assigns thereof, the Principal Amount hereinabove stated on February 15 in each
of the years and in principal installments in accordance with the following schedule:
45889344.1/10613025 12
Ordinance No.2007-09
Combination Tax and Revenue Certifications of Obligation
PRINCIPAL INTEREST
YEAR INSTALLMENTS RATE
(Information to be inserted from schedule in Section 2 hereof).
(or so much thereof as shall not have been prepaid prior to maturity) and to pay interest on the
unpaid principal amounts hereof from the Certificate Date at the per annum rate(s) of interest
specified above computed on the basis of a 360-day year of twelve 30-day months; such
interest being payable on February 15 and August 15 of each year, commencing February 15,
2008. Principal installments of this Certificate are payable at its Stated Maturity or on a
prepayment date to the registered owner hereof by The Bank of New York Trust Company,
N.A., Dallas, Texas (the "Paying Agent/Registrar"), upon presentation and surrender, at its
designated offices in Dallas, Texas (the "Designated Payment/Transfer Office"). Interest is
payable to the registered owner of this Certificate whose name appears on the "Security
Register" maintained by the Paying Agent/Registrar at the close of business on the "Record
Date", which is the last business day of the month next preceding each interest payment date
hereof and interest shall be paid by the Paying Agent/Registrar by check sent United States
Mail, first class postage prepaid, to the address of the registered owner recorded in the Security
Register or by such other method, acceptable to the Paying Agent/Registrar, requested by, and
at the risk and expense of, the registered owner. If the date for the payment of the principal of
or interest on the Certificates shall be a Saturday, Sunday, a legal holiday, or a day when
banking institutions in the city where the Designated Payment/Transfer Office of the Paying
Agent/Registrar is located are authorized by law or executive order to close, then the date for
such payment shall be the next succeeding day which is not such a Saturday, Sunday, legal
holiday, or day when banking institutions are authorized to close; and payment on such date
shall have the same force and effect as if made on the original date payment was due. All
payments of principal of, premium, if any, and interest on this Certificate shall be without
exchange or collection charges to the owner hereof and in any coin or currency of the United
States of America which at the time of payment is legal tender for the payment of public and
private debts.
SECTION 10: Definitions. For purposes of this Ordinance and for clarity with respect to
the issuance of the Certificates herein authorized, and the levy of taxes and appropriation of Net
Revenues therefor, the following words or terms, whenever the same appears herein without
qualifying language, are defined to mean as follows:
(a) The term "Certificates" shall mean the "CITY OF WYLIE, TEXAS,
COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION, SERIES 2007"
authorized by this Ordinance.
(b) The term "Certificate Fund" shall mean the special Fund created and established
under the provisions of Section 11 of this Ordinance.
(c) The term "Collection Date" shall mean, when reference is being made to the levy
and collection of annual ad valorem taxes, the date annual ad valorem taxes levied each year
by the City become delinquent.
45889344.1/10613025 13
Ordinance No.2007-09
Combination Tax and Revenue Certifications of Obligation
(d) The term "Fiscal Year' shall mean the twelve month accounting period used by
the City in connection with the operation of the System which may be any twelve consecutive
month period established by the City.
(e) The term "Government Securities" shall mean (i)direct noncallable obligations of
the United States of America, including obligations the principal of and interest on which are
unconditionally guaranteed by the United States of America, (ii) noncallable obligations of an
agency or instrumentality of the United States, including obligations unconditionally guaranteed
or insured by the agency or instrumentality and on the date of their acquisition or purchase by
the City are rated as to investment quality by a nationally recognized investment rating firm not
less than AAA or its equivalent and (iii) noncallable obligations of a state or an agency or a
county, municipality, or other political subdivision of a state that have been refunded and on the
date of their acquisition or purchase by the City, are rated as to investment quality by a
nationally recognized investment rating firm not less than AAA or its equivalent.
(f) The term "Gross Revenues" shall mean all income, receipts and revenues of
every nature derived or received from the operation and ownership (excluding refundable meter
deposits, restricted gifts and grants in aid of construction) of the System, including earnings and
income derived from the investment or deposit of moneys in any special funds or accounts
created and established for the payment and security of the Prior Lien Obligations and other
obligations payable solely from and secured only by a lien on and pledge of the Net Revenues.
(g) The term "Maintenance and Operating Expenses" shall mean all current
expenses of operating and maintaining the System, including all salaries, labor, materials,
repairs and extensions necessary to render efficient service; provided, however, that only such
repairs and extensions, as in the judgment of the City Council, reasonably and fairly exercised,
are necessary to maintain the operations and render adequate service to the City and the
inhabitants thereof, or such as might be necessary to meet some physical accident or condition
which would otherwise impair obligations payable from Net Revenues shall be deducted in
determining "Net Revenues". Depreciation charges shall not be considered Maintenance and
Operating Expenses. Maintenance and Operating Expenses shall include payments under
contracts for the purchase of water supply, treatment of sewage or other materials, goods or
services for the System to the extent authorized by law and the provisions of such contract.
(h) The term "Net Revenues" shall mean Gross Revenues of the System, with
respect to any period, after deducting the System's Maintenance and Operating Expenses
during such period.
(i) The term "Outstanding" when used in this Ordinance with respect to Certificates
means, as of the date of determination, all Certificates theretofore issued and delivered under
this Ordinance, except:
(1) those Certificates cancelled by the Paying Agent/Registrar or
delivered to the Paying Agent/Registrar for cancellation;
(2) those Certificates deemed to be duly paid by the City in
accordance with the provisions of Section 20 hereof; and
(3) those mutilated, destroyed, lost, or stolen Certificates which have
been replaced with Certificates registered and delivered in lieu thereof as
provided in Section 19 hereof.
45889344.1/10613025 14
Ordinance No.2007-09
Combination Tax and Revenue Certifications of Obligation
(j) The term "Previously Issued Certificates" shall mean the outstanding "City of
Wylie, Texas, Combination Tax and Revenue Certificates of Obligation, Series 2005", dated
January 1, 2005.
(k) The term "Prior Lien Obligations" shall mean (i) the outstanding and unpaid (1)
"City of Wylie, Texas Waterworks and Sewer System Revenue Bonds, Series 1999", dated
September 1, 1999, and originally issued in the aggregate principal amount of $1,380,000, (2)
"City of Wylie, Texas, Waterworks and Sewer System Revenue Bonds, Series 2000", dated
August 15, 2000, and originally issued in the aggregate principal amount of$1,720,000, and (3)
"City of Wylie, Texas, Waterworks and Sewer System Revenue Bonds, Series 2002", dated
September 15, 2002, and originally issued in the aggregate principal amount of$1,150,000 and
(ii) obligations hereafter issued which by the terms of the authorizing ordinance are made
payable from and secured by a lien on and pledge of the Net Revenues of the System ranking
prior and superior to the lien and pledge securing the payment of the Previously Issued
Certificates and the Certificates.
(I) The term "System" shall mean all properties, facilities and plants currently
owned, operated and maintained by the City for the supply, treatment, transmission and
distribution of treated potable water and the collection, treatment and disposal of water carried
wastes, together with all future extensions, improvements, replacements and additions thereto;
provided, however, that notwithstanding the foregoing, and to the extent now or hereafter
authorized or permitted by law, the term "System" shall not mean to include facilities of any kind
which are declared not to be a part of the System and which are acquired or constructed by or
on behalf of the City with the proceeds from the issuance of "Special Facilities Bonds", which
are hereby defined as being special revenue obligations of the City which are not bonds but
which are payable from and secured by other liens on and pledges of any revenues, sources or
payments, not pledged to the payment of the bonds including, but not limited to, special contract
revenues or payments received from any other legal entity in connection with such facilities.
SECTION 11: Certificate Fund. For the purpose of paying the interest on and to provide
a sinking fund for the payment, redemption and retirement of the Certificates, there shall be and
is hereby created a special account or fund on the books and records of the City known as the
"SPECIAL SERIES 2007 TAX AND REVENUE CERTIFICATE OF OBLIGATION FUND", and all
moneys deposited to the credit of such Fund shall be shall be kept and maintained in a special
banking account at the City's depository bank. The Mayor, Mayor Pro Tern, City Manager,
Finance Director, and City Secretary of the City, individually or collectively, are hereby
authorized and directed to make withdrawals from said Fund sufficient to pay the principal of
and interest on the Certificates as the same become due and payable, and, shall cause to be
transferred to the Paying Agent/Registrar from moneys on deposit in the Certificate Fund an
amount sufficient to pay the amount of principal and/or interest falling due on the Certificates,
such transfer of funds to the Paying Agent/Registrar to be made in such manner as will cause
immediately available funds to be deposited with the Paying Agent/Registrar on or before the
last business day next preceding each interest and principal payment date for the Certificates.
Pending the transfer of funds to the Paying Agent/Registrar, money in the Certificate
Fund may, at the option of the City, be invested in obligations identified in, and in accordance
with the provisions of the "Public Funds Investment Act" (V.T.C.A., Government Code, Chapter
2256) relating to the investment of"bond proceeds"; provided that all such investments shall be
made in such a manner that the money required to be expended from said Fund will be
available at the proper time or times. All interest and income derived from deposits and
investments in said Certificate Fund shall be credited to, and any losses debited to, the said
45889344.1/10613025 15
Ordinance No.2007-09
Combination Tax and Revenue Certifications of Obligation
Certificate Fund. All such investments shall be sold promptly when necessary to prevent any
default in connection with the Certificates.
SECTION 12: Tax Levy. To provide for the payment of the "Debt Service
Requirements" on the Certificates being (i) the interest on said Certificates and (ii) a sinking
fund for their redemption at maturity or a sinking fund of 2% (whichever amount shall be the
greater), there shall be and there is hereby levied for the current year and each succeeding year
thereafter while said Certificates or any interest thereon shall remain Outstanding, a sufficient
tax on each one hundred dollars' valuation of taxable property in said City, within the limitations
prescribed by law, adequate to pay such Debt Service Requirements, full allowance being made
for delinquencies and costs of collection; said tax shall be assessed and collected each year
and applied to the payment of the Debt Service Requirements, and the same shall not be
diverted to any other purpose. The taxes so levied and collected shall be paid into the
Certificate Fund. The City Council hereby declares its purpose and intent to provide and levy a
tax legally and fully sufficient to pay the said Debt Service Requirements, it having been
determined that the existing and available taxing authority of the City for such purpose is
adequate to permit a legally sufficient tax in consideration of all other outstanding indebtedness.
The amount of taxes to be provided annually for the payment of the principal of and
interest on the Certificates shall be determined and accomplished in the following manner:
(a) Prior to the date the City Council establishes the annual tax rate and passes an
ordinance levying ad valorem taxes each year, the City Council shall determine:
(1) The amount on deposit in the Certificate Fund after (a) deducting
therefrom the total amount of Debt Service Requirements to become due on
Certificates prior to the Collection Date for the ad valorem taxes to be levied and
(b) adding thereto the amount of the Net Revenues of the System appropriated
and allocated to pay such Debt Service Requirements prior to the Collection Date
for the ad valorem taxes to be levied.
(2) The amount of Net Revenues of the System, and any other
lawfully available revenues which are appropriated and to be set aside for the
payment of the Debt Service Requirements on the Certificates between the
Collection Date for the taxes then to be levied and the Collection Date for the
taxes to be levied during the next succeeding calendar year.
(3) The amount of Debt Service Requirements to become due and
payable on the Certificates between the Collection Date for the taxes then to be
levied and the Collection Date for the taxes to be levied during the next
succeeding calendar year.
(b) The amount of taxes to be levied annually each year to pay the Debt Service
Requirements on the Certificates shall be the amount established in paragraph (3) above less
the sum total of the amounts established in paragraphs (1) and (2), after taking into
consideration delinquencies and costs of collecting such annual taxes.
Accrued interest received from the purchasers of the Certificates shall be deposited to
the Certificate Fund. In addition, any surplus proceeds from the sale of the Certificates not
expended for authorized purposes shall be deposited in the Certificate Fund, and such amounts
45889344.1/10613025 16
Ordinance No.2007-09
Combination Tax and Revenue Certifications of Obligation
so deposited shall reduce the sums otherwise required to be deposited in said Fund from ad
valorem taxes.
SECTION 13: Limited Pledge of Revenues. The City hereby covenants and agrees
that, subject to the prior lien on and pledge of the Net Revenues of the System to the payment
and security of Prior Lien Obligations, the Net Revenues of the System in an aggregate amount
not to exceed $1,000 are hereby irrevocably pledged to the payment of the principal of and
interest on the Certificates, and the limited pledge of$1,000 of the Net Revenues of the System
herein made for the payment of the Certificates shall constitute a lien on the Net Revenues of
the System in accordance with the terms and provisions hereof and shall be on an parity in all
respects with the lien on the Net Revenues securing the payment of the Previously Issued
Certificates until such time as the City shall pay all of such $1,000 after which time the pledge
shall cease hereof. Furthermore, such lien on and pledge of the Net Revenues securing the
payment of the Certificates shall be valid and binding and fully perfected from and after the date
of adoption of this Ordinance without physical delivery or transfer or transfer of control of the Net
Revenues, the filing of this Ordinance or any other act; all as provided in Chapter 1208 of the
Texas Government Code.
Section 1208, Texas Government Code, applies to the issuance of the Certificates and
the pledge of the Net Revenues of the System granted by the City under this Section 13, and
such pledge is therefore valid, effective and perfected. If Texas law is amended at any time
while the Certificates are Outstanding such that the pledge of the Net Revenues of the System
granted by the City under this Section 13 is to be subject to the filing requirements of Chapter 9,
Business & Commerce Code, then in order to preserve to the registered owners of the
Certificates the perfection of the security interest in said pledge, the City agrees to take such
measures as it determines are reasonable and necessary under Texas law to comply with the
applicable provisions of Chapter 9, Business & Commerce Code and enable a filing to perfect
the security interest in said pledge to occur.
SECTION 14: System Fund. The City hereby covenants and agrees that all Gross
Revenues (excluding earnings from the investment of money held in any special funds or
accounts created for the payment and security of Prior Lien Obligations) shall be deposited as
collected into a fund maintained at an official depository of the City and known on the books of
the City as the "Water and Sewer System Fund" (hereinafter called the "System Fund"). All
moneys deposited to the credit of the System Fund shall be allocated, appropriated and
budgeted to the extent required for the following purposes and in the order of priority shown, to
wit:
FIRST: To the payment of all necessary and reasonable Maintenance and
Operating Expenses as defined herein or required by statute to be a first charge
on and claim against the Gross Revenues thereof.
SECOND: To the payment of all amounts required to be deposited in the special
Funds created and established for the payment, security and benefit of Prior Lien
Obligations in accordance with the terms and provisions of the ordinances
authorizing the issuance of Prior Lien Obligations.
THIRD: Equally and ratably, to the payment of the limited amounts pledged to
the payment of the Previously Issued Certificates and the Certificates.
45889344.1/10613025 17
Ordinance No.2007-09
Combination Tax and Revenue Certifications of Obligation
Any Net Revenues remaining in the System Fund after satisfying the foregoing
payments, or making adequate and sufficient provision for the payment thereof, may be
appropriated and used for any other City purpose now or hereafter permitted by law.
SECTION 15: Security of Funds. All moneys on deposit in the Funds for which this
Ordinance makes provision (except any portion thereof as may be at any time properly
invested) shall be secured in the manner and to the fullest extent required by the laws of Texas
for the security of public funds, and moneys on deposit in such Funds shall be used only for the
purposes permitted by this Ordinance.
SECTION 16: Special Covenants. The City hereby further covenants as follows:
(a) It has the lawful power to pledge the Net Revenues of the System to the payment
of the Certificates in the manner herein contemplated and has lawfully exercised such power
under the Constitution and laws of the State of Texas, including said power existing under
V.T.C.A, Government Code, Sections 1502.56 and 1502.58 and V.T.C.A., Local Government
Code, Sections 271.041, et seq.
(b) Other than for the payment of the outstanding Prior Lien Obligations, the
Previously Issued Certificates and the Certificates, the Net Revenues of the System have not in
any manner been pledged to the payment of any debt or obligation of the City or of the System.
SECTION 17: Issuance of Prior Lien Obligations and Additional Parity Obligations. The
City hereby expressly reserves the right to hereafter issue Prior Lien Obligations, without
limitation as to principal amount but subject to any terms, conditions or restrictions applicable
thereto under law or otherwise, and such Prior Lien Obligations hereafter issued may be
payable, in whole or in part, from the Net Revenues (without impairment of the obligation of
contract with the Holders of the Certificates) upon such terms and secured in such manner as
the City Council may determine. Additionally, the City reserves the right without any limitations
or restrictions to issue additional obligations payable (in whole or in part) from and secured by
lien on and pledge of the Net Revenues of the System of equal rank and dignity with the lien on
and pledge of such Net Revenues securing the payment of the Previously Issued Certificates
and the Certificates.
SECTION 18: Application of Prior Lien Obligations Covenants and Agreements. It is
the intention of this governing body and accordingly hereby recognized and stipulated that the
provisions, agreements and covenants contained herein bearing upon the management and
operations of the System, and the administering and application of revenues derived from the
operation thereof, shall to the extent possible be harmonized with like provisions, agreements
and covenants contained in the ordinances authorizing the issuance of the Prior Lien
Obligations, and to the extent of any irreconcilable conflict between the provisions contained
herein and in the ordinances authorizing the issuance of the Prior Lien Obligations, the
provisions, agreements and covenants contained therein shall prevail to the extent of such
conflict and be applicable to this Ordinance but in all respects subject to the priority of rights and
benefits, if any, conferred thereby to the holders of the Prior Lien Obligations. Notwithstanding
the above, any change or modification affecting the application of revenues derived from the
operation of the System shall not impair the obligation of contract with respect to the pledge of
revenues herein made for the payment and security of the Certificates.
SECTION 19: Mutilated - Destroyed - Lost and Stolen Certificates. In case any
Certificate shall be mutilated, or destroyed, lost or stolen, the Paying Agent/Registrar may
45889344.1/10613025 18
Ordinance No.2007-09
Combination Tax and Revenue Certifications of Obligation
execute and deliver a replacement Certificate of like form and tenor, and in the same
denomination and bearing a number not contemporaneously outstanding, in exchange and
substitution for such mutilated Certificate, or in lieu of and in substitution for such destroyed, lost
or stolen Certificate, only upon the approval of the City and after (i) the filing by the Holder
thereof with the Paying Agent/Registrar of evidence satisfactory to the Paying Agent/Registrar
of the destruction, loss or theft of such Certificate, and of the authenticity of the ownership
thereof and (ii) the furnishing to the Paying Agent/Registrar of indemnification in an amount
satisfactory to hold the City and the Paying Agent/Registrar harmless. All expenses and
charges associated with such indemnity and with the preparation, execution and delivery of a
replacement Certificate shall be borne by the Holder of the Certificate mutilated, or destroyed,
lost or stolen.
Every replacement Certificate issued pursuant to this Section shall be a valid and
binding obligation, and shall be entitled to all the benefits of this Ordinance equally and ratably
with all other Outstanding Certificates; notwithstanding the enforceability of payment by anyone
of the destroyed, lost, or stolen Certificates.
The provisions of this Section are exclusive and shall preclude (to the extent lawful) all
other rights and remedies with respect to the replacement and payment of mutilated, destroyed,
lost or stolen Certificates.
SECTION 20: Satisfaction of Obligation of City. If the City shall pay or cause to be paid,
or there shall otherwise be paid to the Holders, the principal of, premium, if any, and interest on
the Certificates, at the times and in the manner stipulated in this Ordinance, then the pledge of
taxes levied under this Ordinance and the Net Revenues of the System (to the extent such
pledge of Net Revenues shall not have been discharged or terminated by prior payment of
principal of or interest on the Certificates) and all covenants, agreements, and other obligations
of the City to the Holders shall thereupon cease, terminate, and be discharged and satisfied.
Certificates or any principal amount(s) thereof shall be deemed to have been paid within
the meaning and with the effect expressed above in this Section when (i) money sufficient to
pay in full such Certificates or the principal amount(s)thereof at maturity or the redemption date
therefor, together with all interest due thereon, shall have been irrevocably deposited with and
held in trust by the Paying Agent/Registrar, or an authorized escrow agent, or (ii) Government
Securities shall have been irrevocably deposited in trust with the Paying Agent/Registrar, or an
authorized escrow agent, which Government Securities have been certified by an independent
accounting firm to mature as to principal and interest in such amounts and at such times as will
insure the availability, without reinvestment, of sufficient money, together with any moneys
deposited therewith, if any, to pay when due the principal of and interest on such Certificates, or
the principal amount(s) thereof, on and prior to the Stated Maturity thereof or (if notice of
redemption has been duly given or waived or if irrevocable arrangements therefor acceptable to
the Paying Agent/Registrar have been made) the redemption date thereof. The City covenants
that no deposit of moneys or Government Securities will be made under this Section and no use
made of any such deposit which would cause the Certificates to be treated as "arbitrage bonds"
within the meaning of Section 148 of the Internal Revenue Code of 1986, as amended, or
regulations adopted pursuant thereto.
Any moneys so deposited with the Paying Agent/Registrar, or an authorized escrow
agent, and all income from Government Securities held in trust by the Paying Agent/Registrar,
or an authorized escrow agent, pursuant to this Section which is not required for the payment of
the Certificates, or any principal amount(s) thereof, or interest thereon with respect to which
45889344.1/10613025 19
Ordinance No.2007-09
Combination Tax and Revenue Certifications of Obligation
such moneys have been so deposited shall be remitted to the City or deposited as directed by
the City. Furthermore, any money held by the Paying Agent/Registrar for the payment of the
principal of and interest on the Certificates and remaining unclaimed for a period of three (3)
years after the Stated Maturity, or applicable redemption date, of the Certificates such moneys
were deposited and are held in trust to pay shall upon the request of the City be remitted to the
City against a written receipt therefor. Notwithstanding the above and foregoing, any remittance
of funds from the Paying Agent/Registrar to the City shall be subject to any applicable
unclaimed property laws of the State of Texas.
SECTION 21: Ordinance a Contract-Amendments. This Ordinance shall constitute a
contract with the Holders from time to time, be binding on the City, and shall not be amended or
repealed by the City while any Certificates remain Outstanding except as permitted in this
Section and in Section 36 hereof. The City may, without the consent of or notice to any
Holders, from time to time and at any time, amend this Ordinance in any manner not detrimental
to the interests of the Holders, including the curing of any ambiguity, inconsistency, or formal
defect or omission herein. In addition, the City may, with the consent of Holders holding a
majority in aggregate principal amount of the Certificates then Outstanding, amend, add to, or
rescind any of the provisions of this Ordinance; provided that, without the consent of all Holders
of Outstanding Certificates, no such amendment, addition, or rescission shall (1) extend the
time or times of payment of the principal of, premium, if any, and interest on the Certificates,
reduce the principal amount thereof, the redemption price or the rate of interest thereon, or in
any other way modify the terms of payment of the principal of, premium, if any, or interest on the
Certificates, (2)give any preference to any Certificate over any other Certificate, or (3) reduce
the aggregate principal amount of Certificates required to be held by Holders for consent to any
such amendment, addition, or rescission.
SECTION 22: Covenants to Maintain Tax-Exempt Status.
(a) Definitions. When used in this Section, the following terms have the following
meanings:
"Closing Date" means the date on which the Certificates are first authenticated and
delivered to the initial purchasers against payment therefor.
"Code" means the Internal Revenue Code of 1986, as amended by all legislation, if any,
effective on or before the Closing Date.
"Computation Date"has the meaning set forth in Section 1.148-1(b) of the Regulations.
"Gross Proceeds" means any proceeds as defined in Section 1.148-1(b) of the
Regulations, and any replacement proceeds as defined in Section 1.148-1(c) of the
Regulations, of the Certificates.
"Investment" has the meaning set forth in Section 1.148-1(b) of the Regulations.
"Nonpurpose Investment" means any investment property, as defined in section 148(b)
of the Code, in which Gross Proceeds of the Certificates are invested and which is not acquired
to carry out the governmental purposes of the Certificates.
"Rebate Amount" has the meaning set forth in Section 1.148-1(b) of the Regulations.
45889344.1/10613025 20
Ordinance No.2007-09
Combination Tax and Revenue Certifications of Obligation
"Regulations" means any proposed, temporary, or final Income Tax Regulations issued
pursuant to Sections 103 and 141 through 150 of the Code, and 103 of the Internal Revenue
Code of 1954, which are applicable to the Certificates. Any reference to any specific Regulation
shall also mean, as appropriate, any proposed, temporary or final Income Tax Regulation
designed to supplement, amend or replace the specific Regulation referenced.
"Yield" of (1) any Investment has the meaning set forth in Section 1.148-5 of the
Regulations and (2) the Certificates has the meaning set forth in Section 1.148-4 of the
Regulations.
(b) Not to Cause Interest to Become Taxable. The City shall not use, permit the use
of, or omit to use Gross Proceeds or any other amounts (or any property the acquisition,
construction or improvement of which is to be financed directly or indirectly with Gross
Proceeds) in a manner which if made or omitted, respectively, would cause the interest on any
Certificate to become includable in the gross income, as defined in section 61 of the Code, of
the owner thereof for federal income tax purposes. Without limiting the generality of the
foregoing, unless and until the City receives a written opinion of counsel nationally recognized in
the field of municipal bond law to the effect that failure to comply with such covenant will not
adversely affect the exemption from federal income tax of the interest on any Certificate, the
City shall comply with each of the specific covenants in this Section.
(c) No Private Use or Private Payments. Except as permitted by Section 141 of the
Code and the Regulations and rulings thereunder, the City shall at all times prior to the last
Stated Maturity of Certificates:
(1) exclusively own, operate and possess all property the acquisition,
construction or improvement of which is to be financed or refinanced directly or
indirectly with Gross Proceeds of the Certificates, and not use or permit the use
of such Gross Proceeds (including all contractual arrangements with terms
different than those applicable to the general public) or any property acquired,
constructed or improved with such Gross Proceeds in any activity carried on by
any person or entity (including the United States or any agency, department and
instrumentality thereof) other than a state or local government, unless such use
is solely as a member of the general public; and
(2) not directly or indirectly impose or accept any charge or other
payment by any person or entity who is treated as using Gross Proceeds of the
Certificates or any property the acquisition, construction or improvement of which
is to be financed or refinanced directly or indirectly with such Gross Proceeds,
other than taxes of general application within the City or interest earned on
investments acquired with such Gross Proceeds pending application for their
intended purposes.
(d) No Private Loan. Except to the extent permitted by Section 141 of the Code and
the Regulations and rulings thereunder, the City shall not use Gross Proceeds of the
Certificates to make or finance loans to any person or entity other than a state or local
government. For purposes of the foregoing covenant, such Gross Proceeds are considered to
be "loaned" to a person or entity if: (1) property acquired, constructed or improved with such
Gross Proceeds is sold or leased to such person or entity in a transaction which creates a debt
for federal income tax purposes; (2) capacity in or service from such property is committed to
such person or entity under a take-or-pay, output or similar contract or arrangement; or
45889344.1/10613025 21
Ordinance No.2007-09
Combination Tax and Revenue Certifications of Obligation
(3) indirect benefits, or burdens and benefits of ownership, of such Gross Proceeds or any
property acquired, constructed or improved with such Gross Proceeds are otherwise transferred
in a transaction which is the economic equivalent of a loan.
(e) Not to Invest at Higher Yield. Except to the extent permitted by Section 148 of
the Code and the Regulations and rulings thereunder, the City shall not at any time prior to the
final Stated Maturity of the Certificates directly or indirectly invest Gross Proceeds in any
Investment (or use Gross Proceeds to replace money so invested), if as a result of such
investment the Yield from the Closing Date of all Investments acquired with Gross Proceeds (or
with money replaced thereby), whether then held or previously disposed of, exceeds the Yield of
the Certificates.
(f) Not Federally Guaranteed. Except to the extent permitted by Section 149(b) of
the Code and the Regulations and rulings thereunder, the City shall not take or omit to take any
action which would cause the Certificates to be federally guaranteed within the meaning of
Section 149(b) of the Code and the Regulations and rulings thereunder.
(g) Information Report. The City shall timely file the information required by
Section 149(e) of the Code with the Secretary of the Treasury on Form 8038-G or such other
form and in such place as the Secretary may prescribe.
(h) Rebate of Arbitrage Profits. Except to the extent otherwise provided in
Section 148(f) of the Code and the Regulations and rulings thereunder:
(1) The City shall account for all Gross Proceeds (including all
receipts, expenditures and investments thereof) on its books of account
separately and apart from all other funds (and receipts, expenditures and
investments thereof) and shall retain all records of accounting for at least six
years after the day on which the last Outstanding Certificate is discharged.
However, to the extent permitted by law, the City may commingle Gross
Proceeds of the Certificates with other money of the City, provided that the City
separately accounts for each receipt and expenditure of Gross Proceeds and the
obligations acquired therewith.
(2) Not less frequently than each Computation Date, the City shall
calculate the Rebate Amount in accordance with rules set forth in Section 148(f)
of the Code and the Regulations and rulings thereunder. The City shall maintain
such calculations with its official transcript of proceedings relating to the issuance
of the Certificates until six years after the final Computation Date.
(3) As additional consideration for the purchase of the Certificates by
the Underwriters and the loan of the money represented thereby and in order to
induce such purchase by measures designed to insure the excludability of the
interest thereon from the gross income of the owners thereof for federal income
tax purposes, the City shall pay to the United States from the construction fund,
other appropriate fund, or if permitted by applicable Texas statute, regulation or
opinion of the Attorney General of the State of Texas, the Certificate Fund, the
amount that when added to the future value of previous rebate payments made
for the Certificates equals (i) in the case of a Final Computation Date as defined
in Section 1.148-3(e)(2) of the Regulations, one hundred percent (100%) of the
Rebate Amount on such date; and (ii) in the case of any other Computation Date,
45889344.1/10613025 22
Ordinance No.2007-09
Combination Tax and Revenue Certifications of Obligation
ninety percent (90%) of the Rebate Amount on such date. In all cases, the
rebate payments shall be made at the times, in the installments, to the place and
in the manner as is or may be required by Section 148(f) of the Code and the
Regulations and rulings thereunder, and shall be accompanied by Form 8038-T
or such other forms and information as is or may be required by Section 148(f) of
the Code and the Regulations and rulings thereunder.
(4) The City shall exercise reasonable diligence to assure that no
errors are made in the calculations and payments required by paragraphs(2) and
(3), and if an error is made, to discover and promptly correct such error within a
reasonable amount of time thereafter(and in all events within one hundred eighty
(180) days after discovery of the error), including payment to the United States of
any additional Rebate Amount owed to it, interest thereon, and any penalty
imposed under Section 1.148-3(h) of the Regulations.
(i) Not to Divert Arbitrage Profits. Except to the extent permitted by Section 148 of
the Code and the Regulations and rulings thereunder, the City shall not, at any time prior to the
earlier of the Stated Maturity or final payment of the Certificates, enter into any transaction that
reduces the amount required to be paid to the United States pursuant to Subsection (h) of this
Section because such transaction results in a smaller profit or a larger loss than would have
resulted if the transaction had been at arm's length and had the Yield of the Certificates not
been relevant to either party.
(j) Elections. The City hereby directs and authorizes the Mayor, Mayor Pro Tem,
City Manager, Finance Director and City Secretary, individually or jointly, to make elections
permitted or required pursuant to the provisions of the Code or the Regulations, as they deem
necessary or appropriate in connection with the Certificates, in the Certificate as to Tax
Exemption or similar or other appropriate certificate, form or document.
SECTION 23: Sale of Certificates - Official Statement Approval. The sale of the
Certificates authorized by this Ordinance to Citigroup Global Markets, Inc. and Morgan Keegan
& Company, Inc. (herein referred to as the "Underwriters") in accordance with the Purchase
Contract, dated March 27, 2007, attached hereto as Exhibit B and incorporated herein by
reference as a part of this Ordinance for all purposes. The Mayor or Mayor Pro Tern is hereby
authorized and directed to execute said Purchase Contract for and on behalf of the City and as
the act and deed of this Council, and in regard to the approval and execution of the Purchase
Contract,the Council hereby finds, determines and declares that the representations, warranties
and agreements of the City contained in the Purchase Contract are true and correct in all
material respects and shall be honored and performed by the City.
Furthermore, the use of the Official Statement by the Underwriters in connection with the
public offering and sale of the Certificates is hereby ratified, confirmed and approved in all
respects. The final Official Statement, which reflects the terms of sale (together with such
changes approved by the Mayor, Mayor Pro Tern, City Manager, Finance Director, or City
Secretary, individually or collectively), shall be and is hereby in all respects approved, and the
Underwriters are hereby authorized to use and distribute said final Official Statement, dated
March 27, 2007, in the reoffering, sale and delivery of the Certificates to the public. The Mayor
and City Secretary are further authorized and directed to manually execute and deliver for and
on behalf of the City copies of said Official Statement in final form as may be required by the
Underwriters, and such final Official Statement in the form and content manually executed by
45889344.1/10613025 23
Ordinance No.2007-09
Combination Tax and Revenue Certifications of Obligation
said officials shall be deemed to be approved by the City Council and constitute the Official
Statement authorized for distribution and use by the Underwriters.
SECTION 24: Proceeds of Sale. The proceeds of sale of the Certificates, excluding the
accrued interest and premium, if any, received from the Underwriters, and the amount, if any, to
be used to pay the costs of issuing the Certificates, shall be deposited in a fund maintained at a
depository bank of the City. Pending expenditure for authorized projects and purposes, such
proceeds of sale may be invested in any authorized investments in accordance with the
provisions of V.T.C.A., Government Code, Chapter 2256, as amended, including guaranteed
investment contracts permitted by V.T.C.A., Section 2256.015 et seq., and the City's investment
policies and guidelines, and any investment earnings realized may be expended for such
authorized projects and purposes or deposited in the Certificate Fund as shall be determined by
the City Council. Accrued interest received from the Underwriters as well as any investment
earnings remaining after completion of all authorized projects or purposes shall be deposited to
the credit of the Certificate Fund. Any premium received from the Underwriters shall be
deposited and applied in accordance with the applicable provisions of V.T.C.A., Government
Code, Chapter 1201, as amended. Any surplus proceeds of sale may be deposited to the
Certificate Fund.
SECTION 25: Control and Custody of Certificates. The Mayor of the City shall be and is
hereby authorized to take and have charge of all necessary orders and records pending the sale
of the Certificates, the investigation by the Attorney General of the State of Texas, including the
printing and supply of definitive Certificates, and shall take and have charge and control of the
Initial Certificate(s) pending the approval thereof by the Attorney General, the registration
thereof by the Comptroller of Public Accounts and the delivery thereof to the Underwriters.
Furthermore, the Mayor, Mayor Pro Tern, City Secretary, Finance Director and City
Manager, any one or more of said officials, are hereby authorized and directed to furnish and
execute such documents and certifications relating to the City and the issuance of the
Certificates, including a certification as to facts, estimates, circumstances and reasonable
expectations pertaining to the use and expenditure and investment of the proceeds of the
Certificates as may be necessary for the approval of the Attorney General and their registration
by the Comptroller of Public Accounts. In addition, such officials, together with the City's
financial advisor, bond counsel and the Paying Agent/Registrar, are authorized and directed to
make the necessary arrangements for the delivery of the Initial Certificate(s) to the Underwriters
and the initial exchange thereof for definitive Certificates.
SECTION 26: Notices to Holders-Waiver. Wherever this Ordinance provides for notice
to Holders of any event, such notice shall be sufficiently given (unless otherwise herein
expressly provided) if in writing and sent by United States Mail, first class postage prepaid, to
the address of each Holder appearing in the Security Register at the close of business on the
business day next preceding the mailing of such notice.
In any case where notice to Holders is given by mail, neither the failure to mail such
notice to any particular Holders, nor any defect in any notice so mailed, shall affect the
sufficiency of such notice with respect to all other Certificates. Where this Ordinance provides
for notice in any manner, such notice may be waived in writing by the Holder entitled to receive
such notice, either before or after the event with respect to which such notice is given, and such
waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with
the Paying Agent/Registrar, but such filing shall not be a condition precedent to the validity of
any action taken in reliance upon such waiver.
45889344.1/10613025 24
Ordinance No.2007-09
Combination Tax and Revenue Certifications of Obligation
SECTION 27: Cancellation. All Certificates surrendered for payment, redemption,
transfer, exchange, or replacement, if surrendered to the Paying Agent/Registrar, shall be
promptly cancelled by it and, if surrendered to the City, shall be delivered to the Paying
Agent/Registrar and, if not already cancelled, shall be promptly cancelled by the Paying
Agent/Registrar. The City may at any time deliver to the Paying Agent/Registrar for cancellation
any Certificates previously certified or registered and delivered which the City may have
acquired in any manner whatsoever, and all Certificates so delivered shall be promptly
cancelled by the Paying Agent/Registrar. All cancelled Certificates held by the Paying
Agent/Registrar shall be returned to the City.
SECTION 28: Bond Counsel's Opinion. The Underwriters' obligation to accept delivery
of the Certificates is subject to being furnished a final opinion of Fulbright & Jaworski L.L.P.,
Dallas, Texas, approving the Certificates as to their validity, said opinion to be dated and
delivered as of the date of delivery and payment for the Certificates. An executed counterpart of
said opinion shall accompany the global certificates deposited with The Depository Trust
Company or a reproduction thereof shall be printed on the definitive Certificates in the event the
book entry only system shall be discontinued.
SECTION 29: CUSIP Numbers. CUSIP numbers may be printed or typed on the
definitive Certificates. It is expressly provided, however, that the presence or absence of CUSIP
numbers on the definitive Certificates shall be of no significance or effect as regards the legality
thereof and neither the City nor attorneys approving the Certificates as to legality are to be held
responsible for CUSIP numbers incorrectly printed or typed on the definitive Certificates.
SECTION 30: Benefits of Ordinance. Nothing in this Ordinance, expressed or implied,
is intended or shall be construed to confer upon any person other than the City, the Paying
Agent/Registrar and the Holders, any right, remedy, or claim, legal or equitable, under or by
reason of this Ordinance or any provision hereof, and this Ordinance and all its provisions is
intended to be and shall be for the sole and exclusive benefit of the City, the Paying
Agent/Registrar and the Holders.
SECTION 31: Inconsistent Provisions. All ordinances, orders or resolutions, or parts
thereof, which are in conflict or inconsistent with any provision of this Ordinance are hereby
repealed to the extent of such conflict, and the provisions of this Ordinance shall be and remain
controlling as to the matters contained herein.
SECTION 32: Governing Law. This Ordinance shall be construed and enforced in
accordance with the laws of the State of Texas and the United States of America.
SECTION 33: Effect of Headings. The Section headings herein are for convenience of
reference only and shall not affect the construction hereof.
SECTION 34: Construction of Terms. If appropriate in the context of this Ordinance,
words of the singular number shall be considered to include the plural, words of the plural
number shall be considered to include the singular, and words of the masculine, feminine or
neuter gender shall be considered to include the other genders.
SECTION 35: Severability. If any provision of this Ordinance or the application thereof
to any circumstance shall be held to be invalid, the remainder of this Ordinance and the
application thereof to other circumstances shall nevertheless be valid, and the City Council
hereby declares that this Ordinance would have been enacted without such invalid provision.
45889344.1/10613025 25
Ordinance No.2007-09
Combination Tax and Revenue Certifications of Obligation
SECTION 36: Continuing Disclosure Undertaking.
(a) Definitions. As used in this Section, the following terms have the meanings
ascribed to such terms below:
"MSRB" means the Municipal Securities Rulemaking Board.
"NRMSIR" means each person whom the SEC or its staff has determined to be a
nationally recognized municipal securities information repository within the meaning of the Rule
from time to time.
"Rule" means SEC Rule 15c2-12, as amended from time to time.
"SEC" means the United States Securities and Exchange Commission.
"SID" means any person designated by the State of Texas or an authorized department,
officer, or agency thereof as, and determined by the SEC or its staff to be, a state information
depository within the meaning of the Rule from time to time.
(b) Annual Reports. The City shall provide annually to each NRMSIR and any SID,
within six months after the end of each fiscal year (beginning with the fiscal year ending
September 30, 2007) financial information and operating data with respect to the City of the
general type included in the final Official Statement approved by Section 23 of this Ordinance,
being the information described in Exhibit C hereto. Financial statements to be provided shall
be (1) prepared in accordance with the accounting principles described in Exhibit C hereto and
(2) audited, if the City commissions an audit of such statements and the audit is completed
within the period during which they must be provided. If audited financial statements are not
available at the time the financial information and operating data must be provided, then the City
shall provide unaudited financial statements for the applicable fiscal year to each NRMSIR and
any SID with the financial information and operating data and will file the annual audit report,
when and if the same becomes available.
If the City changes its fiscal year, it will notify each NRMSIR and any SID of the change
(and of the date of the new fiscal year end) prior to the next date by which the City otherwise
would be required to provide financial information and operating data pursuant to this Section.
The financial information and operating data to be provided pursuant to this Section may
be set forth in full in one or more documents or may be included by specific reference to any
document (including an official statement or other offering document, if it is available from the
MSRB)that theretofore has been provided to each NRMSIR and any SID or filed with the SEC.
(c) Material Event Notices. The City shall notify any SID and either each NRMSIR or
the MSRB, in a timely manner, of any of the following events with respect to the Certificates, if
such event is material within the meaning of the federal securities laws:
1. Principal and interest payment delinquencies;
2. Non-payment related defaults.
3. Unscheduled draws on debt service reserves reflecting financial difficulties;
4. Unscheduled draws on credit enhancements reflecting financial difficulties;
5. Substitution of credit or liquidity providers, or their failure to perform;
6. Adverse tax opinions or events affecting the tax-exempt status of the Certificates;
45889344.1/10613025 26
Ordinance No.2007-09
Combination Tax and Revenue Certifications of Obligation
7. Modifications to rights of holders of the Certificates;
8. Certificate calls;
9. Defeasances;
10. Release, substitution, or sale of property securing repayment of the Certificates;
and
11. Rating changes.
The City shall notify any SID and either each NRMSIR or the MSRB, in a timely manner,
of any failure by the City to provide financial information or operating data in accordance with
subsection (b) of this Section by the time required by such Section.
(d) Limitations, Disclaimers, and Amendments. The City shall be obligated to
observe and perform the covenants specified in this Section while, but only while, the City
remains an "obligated person" with respect to the Certificates within the meaning of the Rule,
except that the City in any event will give the notice required by subsection (c) hereof of any
Certificate calls and defeasance that cause the City to be no longer such an "obligated person."
The provisions of this Section are for the sole benefit of the Holders and beneficial
owners of the Certificates, and nothing in this Section, express or implied, shall give any benefit
or any legal or equitable right, remedy, or claim hereunder to any other person. The City
undertakes to provide only the financial information, operating data, financial statements, and
notices which it has expressly agreed to provide pursuant to this Section and does not hereby
undertake to provide any other information that may be relevant or material to a complete
presentation of the City's financial results, condition, or prospects or hereby undertake to update
any information provided in accordance with this Section or otherwise, except as expressly
provided herein. The City does not make any representation or warranty concerning such
information or its usefulness to a decision to invest in or sell Certificates at any future date.
UNDER NO CIRCUMSTANCES SHALL THE CITY BE LIABLE TO THE HOLDER OR
BENEFICIAL OWNER OF ANY CERTIFICATE OR ANY OTHER PERSON, IN CONTRACT OR
TORT, FOR DAMAGES RESULTING IN WHOLE OR IN PART FROM ANY BREACH BY THE
CITY, WHETHER NEGLIGENT OR WITHOUT FAULT ON ITS PART, OF ANY COVENANT
SPECIFIED IN THIS SECTION, BUT EVERY RIGHT AND REMEDY OF ANY SUCH PERSON,
IN CONTRACT OR TORT, FOR OR ON ACCOUNT OF ANY SUCH BREACH SHALL BE
LIMITED TO AN ACTION FOR MANDAMUS OR SPECIFIC PERFORMANCE.
No default by the City in observing or performing its obligations under this Section shall
constitute a breach of or default under this Ordinance for purposes of any other provision of this
Ordinance.
Nothing in this Section is intended or shall act to disclaim, waive, or otherwise limit the
duties of the City under federal and state securities laws.
Notwithstanding anything herein to the contrary, the provisions of this Section may be
amended by the City from time to time to adapt to changed circumstances resulting from a
change in legal requirements, a change in law, or a change in the identity, nature, status, or
type of operations of the City, but only if (1) the provisions of this Section, as so amended,
would have permitted underwriters to purchase or sell Certificates in the primary offering of the
Certificates in compliance with the Rule, taking into account any amendments or interpretations
of the Rule to the date of such amendment, as well as such changed circumstances, and (2)
either (a) the Holders of a majority in aggregate principal amount (or any greater amount
45889344.1/10613025 27
Ordinance No.2007-09
Combination Tax and Revenue Certifications of Obligation
required by any other provision of this Ordinance that authorizes such an amendment) of the
Outstanding Certificates consent to such amendment or(b) a Person that is unaffiliated with the
City (such as nationally recognized bond counsel) determines that such amendment will not
materially impair the interests of the Holders and beneficial owners of the Certificates. The
provisions of this Section may also be amended from time to time or repealed by the City if the
SEC amends or repeals the applicable provisions of the Rule or a court of final jurisdiction
determines that such provisions are invalid, but only if and to the extent that reservation of the
City's right to do so would not prevent underwriters of the initial public offering of the Certificates
from lawfully purchasing or selling Certificates in such offering. If the City so amends the
provisions of this Section, it shall include with any amended financial information or operating
data next provided in accordance with subsection (b) an explanation, in narrative form, of the
reasons for the amendment and of the impact of any change in the type of financial information
or operating data so provided.
SECTION 37: Public Meeting. It is officially found, determined, and declared that the
meeting at which this Ordinance is adopted was open to the public and public notice of the time,
place, and subject matter of the public business to be considered at such meeting, including this
Ordinance, was given, all as required by V.T.C.A., Government Code, Chapter 551, as
amended.
SECTION 38: Effective Date. This Ordinance shall take effect and be in full force from
and after its adoption on the date shown below in accordance with V.T.C.A., Government Code,
Section 1201.028.
[remainder of page left blank intentionally]
45889344.1/10613025 28
Ordinance No.2007-09
Combination Tax and Revenue Certifications of Obligation
PASSED AND ADOPTED, this March 27, 2007.
CITY OF WYLIE, TEXAS
Mayor
ATTEST:
City Secretary
(City Seal)
Ordinance No.2007-09
Combination Tax and Revenue Certifications of Obligation
45889344.1/10613025 S-1
EXHIBIT A
PAYING AGENT/REGISTRAR AGREEMENT
Ordinance No.2007-09
Combination Tax and Revenue Certifications of Obligation
45889344.1/10613025 A-1
EXHIBIT B
PURCHASE CONTRACT
Ordinance No.2007-09
Combination Tax and Revenue Certifications of Obligation
45889344.1/10613025 B-1
Exhibit C
DESCRIPTION OF ANNUAL FINANCIAL INFORMATION AND OPERATING DATA
The following information is referred to in Section 36 of this Ordinance.
Annual Financial Statements and Operating Data
The financial information and operating data with respect to the City to be provided
annually in accordance with such Section are as specified (and included in the Appendix or
under the headings of the Official Statement referred to) below:
1. The financial statements of the City appended to the Official Statement as
Appendix B for the most recently concluded fiscal year.
2. The information in the Official Statement contained in Tables 1 through 6 and 8
through 15.
Accounting Principles
The accounting principles referred to in such Section are the accounting principles
described in the notes to the financial statements referred to in paragraph 1 above
45889344.1 /10613025 C-1
Ordinance No.2007-09
Combination Tax and Revenue Certifications of Obligation
;IV:ENe
General Obligation Refunding Bonds,Series 2007
Combination Tax and Revenue Certificates of Obligation,Series 2007
Feb-07 Mar-07 Apr-07 May-07
SMTWTFS SMTWTFS SMTWTFS SMTWTFS
1 1 2 3 1 2 3 1 2 3 4 5 6 1 7 1 1 2 3 4 i 5
4 5 6 7 8 9 10 4 ! 5 6 7 8 9 10 8 9 10 11 12 13 14 6 7 8 19 10 111
12
i
II 12 13 14 15 16 17 111 12 13114 15 16 17 15 16 17 18 19 20f 21 13 14 151 16 17 181 19
18 19 20 21 22 23 24 18' 19 201 21 22 23 24 22 23 24 25 26 27i 28 20 21 221 23 24 251 26
25 26 27 28 1 25 26 27 28 29 30 31 29 30 27 28 29 1 30 31 1 I
Complete
By Day Event
14-Feb-07 Wednesday Begin preparation of Official Statemen
21-Feb-07 Wednesday Initial Draft of Official Statement distributed to City and t
Bond Counsel for reviev
27-Feb-07 Tuesday Council passes resolution authorizing Notice of Intent
Publication for Certificates of Obligation
7-Mar-07 Wednesday Receive Official Statement information from City
TBD First Publication of Notice of Intent to Issue Certificate
no later than March 10,2007
8-Mar-07 Thursday Provide draft of Preliminary Official Statement to credit rating
agencies and insurance companies for review
TBD Second Publication of Notice of Intent to Issue Certificates
(same day of the week following 1st publication)
16-Mar-07 Friday Finalize Preliminary Official Statement
Distribute Preliminary Official Statement electronically
through i-Deal Prospectus to Underwriters
21-Mar-07 Wednesday Receive credit ratings and insurance bids
26-Mar-07 Monday Pricing and verbal award to Underwriters
27-Mar-07 Tuesday City Adopts Ordinances and Awards Bonds and
Certificates to Underwriters
2-Apr-07 Monday Prepare and distribute Final Official Statement
9-May-07 Wednesday Closing and delivery of funds
First Southwest Company
Preliminary
$7,680,000
City of Wylie, Texas
Combination Tax&Revenue Certificates of Obligation, Series 2007
Sources & Uses
Dated 03/15/2007 l Delivered 05/01/2007
Sources Of Funds
Par Amount of Bonds $7,680,000.00
Reoffering Premium 27,397.10
Accrued Interest from 03/15/2007 to05/01/2007 41,129.11
Total Sources $7,748,526.21
Uses Of Funds
Original Issue Discount(OID) 31,132.15
Total Underwriter's Discount(0.750%) 57,600.00
Costs of Issuance 75,000.00
Gross Bond Insurance Premium(35.0 bp) 40,603 04
Deposit to Debt Service Fund 41,129.11
Deposit to Project Construction Fund 7,500,000.00
Rounding Amount 3,061.91
Total Uses $7,748,526.21
Pricing Files-2007 I CO 2007$7.5Million proce I 3/19/2007 I 3:48 PM
First Southwest Company
Public Finance Department Page 1
Preliminary
$7,680,000
City of Wylie, Texas
Combination Tax& Revenue Certificates of Obligation, Series 2007
Debt Service Schedule Part 1 of 2
Date Principal Coupon Interest Total P+I Fiscal Total
05/01/2007 - - - - -
02/15/2008 125,000.00 4.000% 295,056.67 420,056.67 -
08/15/2008 - - 158,440.00 158,440.00 -
09/30/2008 - - - - 578,496.67
02/15/2009 270,000.00 4.000% 158,440.00 428,440.00 -
08/15/2009 - - 153,040.00 153,040.00 -
09/30/2009 - - - - 581,480.00
02/15/2010 280,000.00 4.000% 153,040.00 433,040.00 -
08/15/2010 - - 147,440.00 147,440.00 -
09/30/2010 - - - - 580,480.00
02/15/2011 290,000.00 4.000% 147,440.00 437,440.00 -
08/15/2011 - - 141,640.00 141,640.00 -
09/30/2011 - - - - 579,080.00
02/15/2012 305,000.00 4.000% 141,640.00 446,640.00 -
08/15/2012 - - 135,540.00 135,540.00 -
09/30/2012 - - - 582,180.00
02/15/2013 315,000.00 4.000% 135,540.00 450,540.00 -
08/15/2013 - - 129,240.00 129,240.00 -
09/30/2013 - - - - 579,780.00
02/15/2014 330,000.00 4.000% 129,240.00 459,240.00 -
08/15/2014 - - 122,640.00 122,640.00 -
09/30/2014 - • - - 581,880.00
02/15/2015 340,000.00 4.000% 122,640.00 462,640.00 -
08/15/2015 - - 115,840.00 115,840.00 -
09/30/2015 - - - - 578,480.00
02/15/2016 355,000.00 4.000% 115,840.00 470,840.00 -
08/15/2016 - - 108,740.00 108,740.00 -
09/30/2016 - - - - 579,580.00
02/15/2017 370,000.00 4.000% 108,740.00 478,740.00 -
08/15/2017 - - 101,340.00 101,340.00 -
09/30/2017 - 580,080.00
02/15/2018 385,000.00 4.100% 101,340.00 486,340.00 -
08/15/2018 - - 93,447.50 93,447.50 -
09/30/2018 - - - - 579,787.50
02/15/2019 400,000.00 4.150% 93,447.50 493,447.50 -
08/15/2019 85,147.50 85,147.50 -
09/30/2019 - - - - 578,595.00
02/15/2020 420,000.00 4.250% 85,147.50 505,147.50 -
08/15/2020 - - 76,222.50 76,222.50 -
09/30/2020 - - - - 581,370.00
02/15/2021 435,000.00 4.250% 76,222.50 511,222.50 -
08/15/2021 - - 66,978.75 66,978.75 -
09/30/2021 - - - - 578,201.25
Pricing Files-2007 I CO 2007$7.5Million prose 1 3/19/2007 I 3:48 PM
First Southwest Company
Public Finance Department Page 2
Preliminary
$7,680,000
City of Wylie,Texas
Combination Tax& Revenue Certificates of Obligation, Series 2007
Debt Service Schedule Part 2 of 2
Date Principal Coupon Interest Total P+I Fiscal Total
02/15/2022 455,000.00 4.250% 66,978.75 521,978.75 -
08/15/2022 - - 57,310.00 57,310.00 -
09/30/2022 -
- 579,288.75
02/15/2023 475,000.00 4.400% 57,310.00 532,310.00 -
08/15/2023 - - 46,860.00 46,860.00 -
09/30/2023 - - - - 579,170.00
02/15/2024 495,000.00 4.400% 46,860.00 541,860.00 -
08/15/2024 - - 35,970.00 35 970.00 -
09/30/2024 - - - - 577,830.00
02/15/2025 520,000.00 4.400% 35,970.00 555,970.00 -
08/15/2025 - - 24,530.00 24,530.00 -
09/30/2025 - - - - 580,500.00
02/15/2026 545,000.00 4.400% 24,530.00 569,530.00 -
08/15/2026 - - 12,540.00 12,540.00 -
09/30/2026 - - - - 582,070.00
02/15/2027 570,000.00 4.400% 12,540.00 582,540.00 -
09/30/2027 - - - - 582,540.00
Total $7,680,000.00 - $3,920,869.17 $11,600$69.17 -
Yield Statistics
Accrued Interest from 03/15/2007 to05/01/2007 41,129.11
Bond Year Dollars $91,905.00
Average Life 11.967 Years
Average Coupon 4.2662197%
Net Interest Cost(NIC) 4.3329571%
True Interest Cost(TIC) 4.3392366%
Bond Yield for Arbitrage Purposes 4.2173789%
All Inclusive Cost(AIC) 4.5141159%
IRS Form 8038
Net Interest Cost 4.2426412%
Weighted Average Maturity 11.924 Years
Pricing Files-2007 I CO 2007$7.5MilUon proce I 3/19/2007 I 3:48 PM
First Southwest Company
Public Finance Department Page 3
BIRKHOFF, HENDRICKS & CONWAY, L.L.P.
CONSULTING ENGINEERS
7502 Greenville Ave.,#220 Dallas,Texas 75231 Fax(214)361-0204 Phone(214)361-7900
MEMORANDUM
To: Chris Hoisted,P.E.
From: Joe R. Carter,P.E. Sent via Email
Date: Revised February 22,2007
Subject: Water Distribution System 5-Year Capital Improvement Plan
At your request, we reviewed the Water Distribution System 5-Year Capital Improvement Plan as
outlined by the City of Wylie Agenda Report dated November 14, 2006. We met with you and Mike
Sferra yesterday to discuss the 5-Year Capital Improvements Plan and how funds should be allocated.
The budget costs listed in the Agenda Report were based on information contained in the Impact Fee
Report. Since the time of that report we have begun detailed design on several elements in the Water
Distribution System Capital Improvement Plan and we have better information for more precise
opinions of construction cost.
Based on the results of our meeting we recommend the following projects to be included in the Water
Distribution System 5-Year Capital Improvements Plan:
730 Service Area(High Pressure Service Area)
Project Budget Cost
Newport Harbor 2.0 MG Ground Storage Tank $1,700,000
Newport Harbor Pump Station Improvements(1 pump) $ 160,000
Newport Harbor(FM 1378)Water Distribution Line No. 1 $1,400,000
McCreary Road Water Distribution Line $ 990,000
Total High Pressure Service Area $4,250,000
679 Service Area (Low Pressure Service Area)
Project Budget Cost
Nortex 1.5 MG Ground Storage Tank $1,275,000
Nortex Pump Station Improvements(1 pump) $ 150,000
SH 78 Distribution Line No. 1 (NTMWD to Eubanks) $ 540,000
Brown Street Distribution Line $ 300,000
*NTMWD Pump Station Improvements $ 985,000
Total Low Pressure Service Area $3,250,000
j:klwicdbryliel.4090 mural ur\l04.ntmwd pump nu water modeNettenWyrip-memo(2).doc Page 1 of 2
City of Wylie 2/22/2007
Water Distribution System 5-Year Capital Improvement Plan
Page 2 of 2
*Important Note
The "NTMWD Pump Station Improvements" budget amount of $985,000 is the approximate
construction cost for the originally planned first phase of improvements to the NTMWD Pump
Station. Increasing the pumping capacity at NTMWD or building a new pumping facility is essential
to be able to serve any heavy industrial type of demand along State Highway 78 over the next five
years. The improvements included in the stated budget amounts will allow for some light industrial
or commercial development along State Highway 78 over the next five years without completing the
NTMWD Pump Station Improvements.
During our second meeting with the NTMWD regarding the proposed pump station improvements
they informed us that an air gap must be provided. That requirement more than doubles the probable
cost of the pump station improvements(adding $1.2M to $1.3M). The NTMWD has indicated that it
is unlikely they will pay for construction of the additional pump station and related facilities
necessary to provide an air gap but this is not known for certain until a formal request is made.
The remainder of the SH 78 Distribution Line is also required to provide sufficient water for Heavy 1
Industrial demands along State Highway 78 and the approximate construction cost of the portion of
that project not included in the 5-Year CIP is $1,320,000.
If the NTMWD will not participate in the cost of improvements at the current NTMWD Pump Station
site and the Brown Street Pump Station option is selected the approximate construction cost of the
first phase of improvements is $3,900,000 requiring $2,915,000 more than is included in this bond
proposal.
cc: Mike Sferra
Mindy Manson
Larry Williamson
j:kJaicaAwylie\I-4090 savic 04-ntmwd pun,na water modeNaterAla5 mip-mana(2).doc
Wylie City Council
CITY OF WYLIE AGENDA REPORT
Meeting Date: March 27, 2007 Item Number: 4
Department: Finance (City Secretary's Use Only)
Prepared By: Larry Williamson Account Code:
Date Prepared: March 19, 2007 Budgeted Amount:
Ordinance, Timetable ,
Exhibits: Number Runs
Subject
Consider, and act upon, all matters incident and related to the issuance and sale of "City of Wylie, Texas,
General Obligation Refunding Bonds, series 2007", including the adoption of Ordinance No. 2007-10
authorizing the issuance of such bonds and providing for the redemption of the obligations being refunded.
Recommendation
Motion to approve all matters incident and related to the issuance and sale of"City of Wylie, Texas, General
Obligation Refunding Bonds, series 2007", including the adoption of Ordinance no. 2007-10 authorizing the
issuance of such bonds and providing for the redemption of the obligations being refunded.
Discussion
First Southwest Company submitted a proposal to refund a portion of the City's General Obligations Bonds,
series 1997, series 1999, and series 2000. The purpose of the refunding is to lower the debt service payments
made by the City. This is accomplished by refinancing(refunding)the old debt with new debt at a lower interest
rate. Preliminary numbers project the savings at 3.704% net present value benefit or $175,758.34 in today's
dollars.
Approved By
Initial Date
Department Director LW 3/19/07
City Manager lf�rn
Page 1 of 1
ORDINANCE NO. 2007-10
AN ORDINANCE AUTHORIZING THE ISSUANCE OF "CITY OF WYLIE,
TEXAS, GENERAL OBLIGATION REFUNDING BONDS, SERIES 2007";
SPECIFYING THE TERMS AND FEATURES OF SAID BONDS; LEVYING A
CONTINUING DIRECT ANNUAL AD VALOREM TAX FOR THE PAYMENT
OF SAID BONDS; PROVIDING FOR THE REDEMPTION OF CERTAIN
OUTSTANDING OBLIGATIONS OF THE CITY; AND RESOLVING OTHER
MATTERS INCIDENT AND RELATED TO THE ISSUANCE, SALE, PAYMENT
AND DELIVERY OF SAID BONDS, INCLUDING THE APPROVAL AND
EXECUTION OF A PAYING AGENT/REGISTRAR AGREEMENT, A
PURCHASE CONTRACT AND A SPECIAL ESCROW AGREEMENT AND
THE APPROVAL AND DISTRIBUTION OF AN OFFICIAL STATEMENT; AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City Council of the City of Wylie, Texas (the "City") has heretofore
issued, sold, and delivered, and there is currently outstanding obligations totaling in original
principal amount $4,745,000 of the following issues or series (hereinafter collectively called the
"Refunded Obligations"), to wit:
(1) City of Wylie, Texas, General Obligation Bonds, Series 1997,
dated January 1, 2007, scheduled to mature on February 15 in each of the years
2008 through 2014 and 2017, and aggregating in principal amount of$1,790,000
(the "Series 1997 Refunded Bonds");
(2) City of Wylie, Texas, General Obligation Bonds, Series 1999,
dated September 1, 1999, scheduled to mature on February 15 in each of the
years 2011 through 2019, and aggregati ng in principal amount of$1,870,000 (the
"Series 1999 Refunded Bonds"); and
(3) City of Wylie, Texas, General Obligation Bonds, Series 2000,
dated August 15, 2000, scheduled to mature on February 15 in each of the years
2013 through 2018 and 2020, and aggregating in principal amount of$1,085,000
(the"Series 2000 Refunded B onds"); and,
WHEREAS, pursuant to the provisions of V.T.C.A., Government Code, Chapter 1207,
the City Council is authorized to issue refunding bonds and deposit the proceeds of sale directly
with any place of payment for the Refunded Obligations, or other authorized depository, and
such deposit, when made in accordance with said statute, shall constitute the making of firm
banking and financial arrangements for the discharge and final payment of the Refunded
Obligations; and
WHEREAS, the City Council hereby finds and determines that the Refunded Obligations
should be refunded at this time, and such refunding will result in the City saving approximately
$ in debt service payments on such indebtedness and further provide
present value savings of approximately $ .
NOW,THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
WYLIE, TEXAS:
SECTION 1: Authorization— Designation - Principal Amount - Purpose. General
obligation bonds of the City shall be and are hereby authorized to be issued in the aggregate
principal amount of $ to be designated and bear the title "CITY OF WYLIE,
TEXAS, GENERAL OBLIGATION REFUNDING BONDS, SERIES 2007" (hereinafter referred to
45889459.1 /10613025
Ordinance No.2007-10
General Obligation Refunding Bonds,Series 2007
as the "Bonds"), for the purpose of providing funds for the discharge and final payment of
certain outstanding obligations of the City (identified in the preamble hereof and referred to as
the "Refunded Obligations") and to pay costs of issuance, in accordance with the Constitution
and laws of the State of Texas, including V.T.C.A., Government Code, Chapter 1207.
SECTION 2: Fully Reaistered Obligations- Bond Date -Authorized
Denominations-Stated Maturities-Interest Rates. The Bonds shall be issued as fully registered
obligations only, shall be dated March 15, 2007 (the "Bond Date"), shall be in denominations of
$5,000 or any integral multiple (within a Stated Maturity) thereof, and shall become due and
payable semiannually on February 15 in each of the years and in principal amounts (the "Stated
Maturities") in accordance with the following schedule:
Year of Principal Interest
Stated Maturity Amount Rate(s)
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
The Bonds shall bear interest on the unpaid principal amounts from the Bond Date at the
rate(s) per annum shown above in this Section (calculated on the basis of a 360-day year of
twelve 30-day months). Interest on the Bonds shall be payable on February 15 and August 15
in each year, commencing August 15, 2007.
SECTION 3: Terms of Payment-Paying Agent/Registrar. The principal of, premium, if
any, and the interest on the Bonds, due and payable by reason of maturity, redemption or
otherwise, shall be payable only to the registered owners or holders of the Bonds (hereinafter
called the "Holders") appearing on the registration and transfer books maintained by the Paying
Agent/Registrar and the payment thereof shall be in any coin or currency of the United States of
America, which at the time of payment is legal tender for the payment of public and private
debts, and shall be without exchange or collection charges to the Holders.
The selection and appointment of The Bank of New York Trust Company, N.A., Dallas,
Texas to serve as Paying Agent/Registrar for the Bonds is hereby approved and confirmed.
Books and records relating to the registration, payment, transfer and exchange of the Bonds
(the "Security Register") shall at all times be kept and maintained on behalf of the City by the
Paying Agent/Registrar, as provided herein and in accordance with the terms and provisions of
a "Paying Agent/ Registrar Agreement", substantially in the form attached hereto as Exhibit A,
and such reasonable rules and regulations as the Paying Agent/Registrar and the City may
prescribe. The Mayor and City Secretary are authorized to execute and deliver such Agreement
in connection with the delivery of the Bonds. The City covenants to maintain and provide a
Ordinance No.2007-10
General Obligation Refunding Bonds,Series 2007
45889459.1/10613025 2
Paying Agent/Registrar at all times until the Bonds are paid and discharged, and any successor
Paying Agent/Registrar shall be a commercial bank, trust company, financial institution or other
entity qualified and authorized to serve in such capacity and perform the duties and services of
Paying Agent/Registrar. Upon any change in the Paying Agent/Registrar for the Bonds, the City
agrees to promptly cause a written notice thereof to be sent to each Holder by United States
Mail, first class postage prepaid, which notice shall also give the address of the new Paying
Agent/Registrar.
Principal of and premium, if any, on the Bonds shall be payable at the Stated Maturities
or the redemption thereof, only upon presentation and surrender of the Bonds to the Paying
Agent/Registrar at its designated offices in Dallas, Texas (the "Designated Payment/Transfer
Office"). Interest on the Bonds shall be paid to the Holders whose name appears in the Security
Register at the close of business on the Record Date (the last business day of the month next
preceding each interest payment date) and shall be paid by the Paying Agent/Registrar (i) by
check sent United States Mail, first class postage prepaid, to the address of the Holder recorded
in the Security Register or (ii) by such other method, acceptable to the Paying Agent/Registrar,
requested by, and at the risk and expense of, the Holder. If the date for the payment of the
principal of or interest on the Bonds shall be a Saturday, Sunday, a legal holiday, or a day when
banking institutions in the City where the Designated Payment/Transfer Office of the Paying
Agent/Registrar is located are authorized by law or executive order to close, then the date for
such payment shall be the next succeeding day which is not such a Saturday, Sunday, legal
holiday, or day when banking institutions are authorized to close; and payment on such date
shall have the same force and effect as if made on the original date payment was due.
In the event of a nonpayment of interest on a scheduled payment date, and for thirty (30)
days thereafter, a new record date for such interest payment (a "Special Record Date") will be
established by the Paying Agent/ Registrar, if and when funds for the payment of such interest
have been received from the City. Notice of the Special Record Date and of the scheduled
payment date of the past due interest (which shall be 15 days after the Special Record Date)
shall be sent at least five (5) business days prior to the Special Record Date by United States
Mail, first class postage prepaid, to the address of each Holder appearing on the Security
Register at the close of business on the last business day next preceding the date of mailing of
such notice.
SECTION 4: Redemption.
(a) Optional Redemption. The Bonds having Stated Maturities on and after
February 15, 2018, shall be subject to redemption prior to maturity, at the option of the City, in
whole or in part in principal amounts of $5,000 or any integral multiple thereof (and if within a
Stated Maturity by lot by the Paying Agent/Registrar), on February 15, 2017 or on any date
thereafter at the redemption price of par plus accrued interest to the date of redemption.
(b) Exercise of Redemption Option. At least forty-five (45) days prior to a
redemption date for the Bonds (unless a shorter notification period shall be satisfactory to the
Paying Agent/Registrar), the City shall notify the Paying Agent/Registrar of the decision to
redeem Bonds, the principal amount of each Stated Maturity to be redeemed, and the date of
redemption therefor. The decision of the City to exercise the right to redeem Bonds shall be
entered in the minutes of the governing body of the City.
(c) Selection of Bonds for Redemption. If less than all Outstanding Bonds of the
same Stated Maturity are to be redeemed on a redemption date, the Paying Agent/Registrar
Ordinance No.2007-10
General Obligation Refunding Bonds,Series 2007
45889459.1/10613025 3
shall treat such Bonds as representing the number of Bonds Outstanding which is obtained by
dividing the principal amount of such Bonds by $5,000 and shall select the Bonds, or principal
amount thereof, to be redeemed within such Stated Maturity by lot.
(d) Notice of Redemption. Not less than thirty (30) days prior to a redemption date
for the Bonds, a notice of redemption shall be sent by United States Mail, first class postage
prepaid, in the name of the City and at the City's expense, to each Holder of a Bond to be
redeemed in whole or in part at the address of the Holder appearing on the Security Register at
the close of business on the business day next preceding the date of mailing such notice, and
any notice of redemption so mailed shall be conclusively presumed to have been duly given
irrespective of whether received by the Holder.
All notices of redemption shall (i) specify the date of redemption for the Bonds, (ii)
identify the Bonds to be redeemed and, in the case of a portion of the principal amount to be
redeemed, the principal amount thereof to be redeemed, (iii) state the redemption price,
(iv) state that the Bonds, or the portion of the principal amount thereof to be redeemed, shall
become due and payable on the redemption date specified, and the interest thereon, or on the
portion of the principal amount thereof to be redeemed, shall cease to accrue from and after the
redemption date, and (v) specify that payment of the redemption price for the Bonds, or the
principal amount thereof to be redeemed, shall be made at the Designated Payment/Transfer
Office of the Paying Agent/Registrar only upon presentation and surrender thereof by the
Holder. If a Bond is subject by its terms to prior redemption, and has been called for
redemption, and notice of redemption thereof has been duly given as hereinabove provided,
such Bond (or the principal amount thereof to be redeemed) shall become due and payable and
interest thereon shall cease to accrue from and after the redemption date therefor; provided
moneys sufficient for the payment of such Bond (or of the principal amount thereof to be
redeemed) at the then applicable redemption price are held for the purpose of such payment by
the Paying Agent/Registrar.
SECTION 5: Registration - Transfer - Exchange of Bonds-Predecessor Bonds. The
Paying Agent/Registrar shall obtain, record, and maintain in the Security Register the name and
address of each and every owner of the Bonds issued under and pursuant to the provisions of
this Ordinance, or if appropriate, the nominee thereof. Any Bond may be transferred or
exchanged for Bonds of other authorized denominations by the Holder, in person or by his duly
authorized agent, upon surrender of such Bond to the Paying Agent/Registrar for cancellation,
accompanied by a written instrument of transfer or request for exchange duly executed by the
Holder or by his duly authorized agent, in form satisfactory to the Paying Agent/Registrar.
Upon surrender of any Bond (other than the Initial Bond(s) referenced in Section 8
hereof) for transfer at the Designated Payment/Transfer Office of the Paying Agent/Registrar,
the Paying Agent/Registrar shall register and deliver, in the name of the designated transferee
or transferees, one or more new Bonds of authorized denominations and having the same
Stated Maturity and of a like aggregate principal amount as the Bond or Bonds surrendered for
transfer.
At the option of the Holder, Bonds(other than the Initial Bond(s) referenced in Section 8
hereof) may be exchanged for other Bonds of authorized denominations and having the same
Stated Maturity, bearing the same rate of interest and of like aggregate principal amount as the
Bonds surrendered for exchange, upon surrender of the Bonds to be exchanged at the
Designated Payment/Transfer Office of the Paying Agent/Registrar. Whenever any Bonds are
Ordinance No.2007-10
General Obligation Refunding Bonds,Series 2007
45889459.1/10613025 4
surrendered for exchange, the Paying Agent/Registrar shall register and deliver new Bonds to
the Holder requesting the exchange.
All Bonds issued in any transfer or exchange of Bonds shall be delivered to the Holders
at the Designated Payment/Transfer Office of the Paying Agent/Registrar or sent by United
States Mail, first class, postage prepaid to the Holders, and, upon the registration and delivery
thereof, the same shall be the valid obligations of the City, evidencing the same obligation to
pay, and entitled to the same benefits under this Ordinance, as the Bonds surrendered in such
transfer or exchange.
All transfers or exchanges of Bonds pursuant to this Section shall be made without
expense or service charge to the Holder, except as otherwise herein provided, and except that
the Paying Agent/Registrar shall require payment by the Holder requesting such transfer or
exchange of any tax or other governmental charges required to be paid with respect to such
transfer or exchange.
Bonds cancelled by reason of an exchange or transfer pursuant to the provisions hereof
are hereby defined to be "Predecessor Bonds," evidencing all or a portion, as the case may be,
of the same obligation to pay evidenced by the new Bond or Bonds registered and delivered in
the exchange or transfer therefor. Additionally, the term "Predecessor Bonds" shall include any
mutilated, lost, destroyed, or stolen Bond for which a replacement Bond has been issued,
registered, and delivered in lieu thereof pursuant to the provisions of Section 11 hereof and
such new replacement Bond shall be deemed to evidence the same obligation as the mutilated,
lost, destroyed, or stolen Bond.
Neither the City nor the Paying Agent/Registrar shall be required to issue or transfer to
an assignee of a Holder any Bond called for redemption, in whole or in part, within 45 days of
the date fixed for the redemption of such Bond; provided, however, such limitation on
transferability shall not be applicable to an exchange by the Holder of the unredeemed balance
of a Bond called for redemption in part.
SECTION 6: Book-Entry Only Transfers and Transactions. Notwithstanding the
provisions contained in Sections 3, 4 and 5 hereof relating to the payment, and
transfer/exchange of the Bonds, the City hereby approves and authorizes the use of
"Book-Entry Only" securities clearance, settlement and transfer system provided by The
Depository Trust Company (DTC), a limited purpose trust company organized under the laws of
the State of New York, in accordance with the operational arrangements referenced in the
Blanket Issuer Letter of Representation, by and between the City and DTC (the "Depository
Agreement").
Pursuant to the Depository Agreement and the rules of DTC, the Bonds shall be
deposited with DTC who shall hold said Bonds for its participants (the "DTC Participants").
While the Bonds are held by DTC under the Depository Agreement, the Holder of the Bonds on
the Security Register for all purposes, including payment and notices, shall be Cede & Co., as
nominee of DTC, notwithstanding the ownership of each actual purchaser or owner of each
Bond (the`Beneficial Owners") being recorded in the records of DTC and DTC Participants.
In the event DTC determines to discontinue serving as securities depository for the
Bonds or otherwise ceases to provide book-entry clearance and settlement of securities
transactions in general or the City determines that DTC is incapable of properly discharging its
duties as securities depository for the Bonds, the City covenants and agrees with the Holders of
Ordinance No.2007-10
General Obligation Refunding Bonds,Series 2007
45889459.1/10613025 5
the Bonds to cause Bonds to be printed in definitive form and provide for the Bond certificates to
be issued and delivered to DTC Participants and Beneficial Owners, as the case may be.
Thereafter, the Bonds in definitive form shall be assigned, transferred and exchanged on the
Security Register maintained by the Paying Agent/Registrar and payment of such Bonds shall
be made in accordance with the provisions of Sections 3, 4 and 5 hereof.
SECTION 7: Execution - Registration. The Bonds shall be executed on behalf of the
City by the Mayor under its seal reproduced or impressed thereon and countersigned by the
City Secretary. The signature of said officers on the Bonds may be manual or facsimile. Bonds
bearing the manual or facsimile signatures of individuals who are or were the proper officers of
the City on the Bond Date shall be deemed to be duly executed on behalf of the City,
notwithstanding that such individuals or either of them shall cease to hold such offices at the
time of delivery of the Bonds to the initial purchaser(s) and with respect to Bonds delivered in
subsequent exchanges and transfers, all as authorized and provided in V.T.C.A., Government
Code, Chapter 1201, as amended.
No Bond shall be entitled to any right or benefit under this Ordinance, or be valid or
obligatory for any purpose, unless there appears on such Bond either a certificate of registration
substantially in the form provided in Section 9(c), manually executed by the Comptroller of
Public Accounts of the State of Texas, or his duly authorized agent, or a certificate of
registration substantially in the form provided in Section 9(d), manually executed by an
authorized officer, employee or representative of the Paying Agent/Registrar, and either such
certificate duly signed upon any Bond shall be conclusive evidence, and the only evidence, that
such Bond has been duly certified, registered, and delivered.
SECTION 8: Initial Bond(s). The Bonds herein authorized shall be initially issued
either (i) as a single fully registered bond in the aggregate principal amount of the Bonds with
principal installments to become due and payable as provided in Section 2 hereof and
numbered T-1, or(ii)as multiple fully registered bonds, being one bond for each year of maturity
in the applicable principal amount and denomination and to be numbered consecutively from
T-1 and upward (hereinafter called the "Initial Bond(s)") and, in either case, the Initial Bond(s)
shall be registered in the name of the initial purchaser(s) or the designee thereof. The Initial
Bond(s) shall be the Bonds submitted to the Office of the Attorney General of the State of Texas
for approval, certified and registered by the Office of the Comptroller of Public Accounts of the
State of Texas and delivered to the initial purchaser(s). Any time after the delivery of the Initial
Bond(s), the Paying Agent/Registrar, pursuant to written instructions from the initial
purchaser(s), or the designee thereof, shall cancel the Initial Bond(s) delivered hereunder and
exchange therefor definitive Bonds of authorized denominations, Stated Maturities, principal
amounts and bearing applicable interest rates for transfer and delivery to the Holders named at
the addresses identified therefor; all pursuant to and in accordance with such written
instructions from the initial purchaser(s), or the designee thereof, and such other information
and documentation as the Paying Agent/Registrar may reasonably require.
SECTION 9: Forms.
(a) Forms Generally. The Bonds, the Registration Certificate of the Comptroller of
Public Accounts of the State of Texas, the Registration Certificate of Paying Agent/Registrar,
and the form of Assignment to be printed on each of the Bonds, shall be substantially in the
forms set forth in this Section with such appropriate insertions, omissions, substitutions, and
other variations as are permitted or required by this Ordinance and may have such letters,
numbers, or other marks of identification (including identifying numbers and letters of the
Ordinance No.2007-10
General Obligation Refunding Bonds,Series 2007
45889459.1/10613025 6
Committee on Uniform Securities Identification Procedures of the American Bankers
Association) and such legends and endorsements (including insurance legends in the event the
Bonds, or any maturities thereof, are purchased with insurance and any reproduction of an
opinion of counsel) thereon as may, consistently herewith, be established by the City or
determined by the officers executing such Bonds as evidenced by their execution. Any portion
of the text of any Bonds may be set forth on the reverse thereof, with an appropriate reference
thereto on the face of the Bond.
The definitive Bonds and the Initial Bond(s) shall be printed, lithographed, or engraved,
typewritten, photocopied or otherwise reproduced in any other similar manner, all as determined
by the officers executing such Bonds as evidenced by their execution thereof.
(b) Form of Definitive Bond.
REGISTERED REGISTERED
NO. $
UNITED STATES OF AMERICA
STATE OF TEXAS
CITY OF WYLIE, TEXAS
GENERAL OBLIGATION REFUNDING BOND, SERIES 2007
Bond Date: Interest Rate: Stated Maturity CUSIP NO:
March 15, 2007
Registered Owner:
Principal Amount:
The City of Wylie (hereinafter referred to as the "City"), a body corporate and political
subdivision in the County of Collin, State of Texas, for value received, acknowledges itself
indebted to and hereby promises to pay to the Registered Owner named above, or the
registered assigns thereof, on the Stated Maturity date specified above the Principal Amount
hereinabove stated (or so much thereof as shall not have been paid upon prior redemption) and
to pay interest on the unpaid principal amount hereof from the interest payment date next
preceding the "Registration Date" of this Bond appearing below (unless this Bond bears a
"Registration Date"as of an interest payment date, in which case it shall bear interest from such
date, or unless the "Registration Date" of this Bond is prior to the initial interest payment date in
which case it shall bear interest from the Bond Date) at the per annum rate of interest specified
above computed on the basis of a 360 day year of twelve 30 day months; such interest being
payable on February 15 and August 15 in each year, commencing August 15, 2007. Principal
of this Bond is payable at its Stated Maturity or redemption to the registered owner hereof, upon
presentation and surrender, at the Designated Payment/Transfer Office of the Paying
Agent/Registrar executing the registration certificate appearing hereon, or its successor.
Interest is payable to the registered owner of this Bond (or one or more Predecessor Bonds, as
defined in the Ordinance hereinafter referenced) whose name appears on the "Security
Register" maintained by the Paying Agent/Registrar at the close of business on the "Record
Date", which is the last business day of the month next preceding each interest payment date,
and interest shall be paid by the Paying Agent/Registrar by check sent United States Mail, first
class postage prepaid, to the address of the registered owner recorded in the Security Register
Ordinance No.2007-10
General Obligation Refunding Bonds,Series 2007
45889459.1/10613025 7
or by such other method, acceptable to the Paying Agent/Registrar, requested by, and at the
risk and expense of, the registered owner. If the date for the payment of the principal of or
interest on the Bonds shall be a Saturday, Sunday, a legal holiday, or a day when banking
institutions in the city where the Designated Payment/Transfer Office of the Paying
Agent/Registrar is located are authorized by law or executive order to close, then the date for
such payment shall be the next succeeding day which is not such a Saturday, Sunday, legal
holiday, or day when banking institutions are authorized to close; and payment on such date
shall have the same force and effect as if made on the original date payment was due. All
payments of principal of, premium, if any, and interest on this Bond shall be without exchange or
collection charges to the owner hereof and in any coin or currency of the United States of
America which at the time of payment is legal tender for the payment of public and private
debts.
This Bond is one of the series specified in its title issued in the aggregate principal
amount of $ (herein referred to as the "Bonds") for the purpose of providing funds
for the discharge and final payment of certain outstanding obligations of the City (identified in
the preamble hereof and referred to as the "Refunded Obligations") and to pay costs of
issuance, under and in strict conformity with the Constitution and laws of the State of Texas
and pursuant to an Ordinance adopted by the City Council of the City (herein referred to as the
"Ordinance").
The Bonds maturing on and after February 15, 2018, may be redeemed prior to their
Stated Maturities, at the option of the City, in whole or in part in principal amounts of $5,000 or
any integral multiple thereof (and if within a Stated Maturity by lot by the Paying
Agent/Registrar), on February 15, 2017, or on any date thereafter, at the redemption price of
par, together with accrued interest to the date of redemption.
At least thirty days prior to the date fixed for any redemption of Bonds, the City shall
cause a written notice of such redemption to be sent by United States Mail, first class postage
prepaid, to the registered owners of each Bond to be redeemed at the address shown on the
Security Register and subject to the terms and provisions relating thereto contained in the
Ordinance. If a Bond (or any portion of its principal sum) shall have been duly called for
redemption and notice of such redemption duly given, then upon such redemption date such
Bond (or the portion of its principal sum to be redeemed) shall become due and payable, and
interest thereon shall cease to accrue from and after the redemption date therefor; provided
moneys for the payment of the redemption price and the interest on the principal amount to be
redeemed to the date of redemption are held for the purpose of such payment by the Paying
Agent/Registrar.
In the event a portion of the principal amount of a Bond is to be redeemed and the
registered owner is someone other than Cede & Co., payment of the redemption price of such
principal amount shall be made to the registered owner only upon presentation and surrender of
such Bond to the Designated Payment/Transfer Office of the Paying Agent/Registrar, and a new
Bond or Bonds of like maturity and interest rate in any authorized denominations provided by
the Ordinance for the then unredeemed balance of the principal sum thereof will be issued to
the registered owner, without charge. If a Bond is selected for redemption, in whole or in part,
the City and the Paying Agent/Registrar shall not be required to transfer such Bond to an
assignee of the registered owner within 45 days of the redemption date therefor; provided,
however, such limitation on transferability shall not be applicable to an exchange by the
registered owner of the unredeemed balance of a Bond redeemed in part.
Ordinance No.2007-10
General Obligation Refunding Bonds,Series 2007
45889459.1/10613025 8
The Bonds are payable from the proceeds of an ad valorem tax levied, within the
limitations prescribed by law, upon all taxable property in the City. Reference is hereby made to
the Ordinance, a copy of which is on file in the Designated Payment/Transfer Office of the
Paying Agent/Registrar, and to all of the provisions of which the owner or holder of this Bond by
the acceptance hereof hereby assents, for definitions of terms; the description of and the nature
and extent of the tax levied for the payment of the Bonds; the terms and conditions relating to
the transfer or exchange of this Bond; the conditions upon which the Ordinance may be
amended or supplemented with or without the consent of the Holders; the rights, duties, and
obligations of the City and the Paying Agent/Registrar; the terms and provisions upon which this
Bond may be discharged at or prior to its maturity or redemption, and deemed to be no longer
Outstanding thereunder; and for other terms and provisions contained therein. Capitalized
terms used herein have the meanings assigned in the Ordinance.
This Bond, subject to certain limitations contained in the Ordinance, may be transferred
on the Security Register only upon its presentation and surrender at the Designated
Payment/Transfer Office of the Paying Agent/Registrar, with the Assignment hereon duly
endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the
Paying Agent/Registrar duly executed by, the registered owner hereof, or his duly authorized
agent. When a transfer on the Security Register occurs, one or more new fully registered Bonds
of the same Stated Maturity, of authorized denominations, bearing the same rate of interest, and
of the same aggregate principal amount will be issued by the Paying Agent/Registrar to the
designated transferee or transferees.
The City and the Paying Agent/Registrar, and any agent of either, shall treat the
registered owner whose name appears on the Security Register (i) on the Record Date as the
owner entitled to payment of interest hereon, (ii) on the date of surrender of this Bond as the
owner entitled to payment of principal hereof at its Stated Maturity or its redemption, in whole or
in part, and (iii) on any other date as the owner for all other purposes, and neither the City nor
the Paying Agent/Registrar, or any agent of either, shall be affected by notice to the contrary. In
the event of nonpayment of interest on a scheduled payment date and for thirty (30) days
thereafter, a new record date for such interest payment (a "Special Record Date") will be
established by the Paying Agent/Registrar, if and when funds for the payment of such interest
have been received from the City. Notice of the Special Record Date and of the scheduled
payment date of the past due interest (which shall be 15 days after the Special Record Date)
shall be sent at least five (5) business days prior to the Special Record Date by United States
Mail, first class postage prepaid, to the address of each Holder appearing on the Security
Register at the close of business on the last business day next preceding the date of mailing of
such notice.
It is hereby certified, recited, represented and declared that the City is a body corporate
and political subdivision duly organized and legally existing under and by virtue of the
Constitution and laws of the State of Texas; that the issuance of the Bonds is duly authorized by
law; that all acts, conditions and things required to exist and be done precedent to and in the
issuance of the Bonds to render the same lawful and valid obligations of the City have been
properly done, have happened and have been performed in regular and due time, form and
manner as required by the Constitution and laws of the State of Texas, and the Ordinance; that
the Bonds do not exceed any Constitutional or statutory limitation; and that due provision has
been made for the payment of the principal of and interest on the Bonds by the levy of a tax as
aforestated. In case any provision in this Bond shall be invalid, illegal, or unenforceable, the
validity, legality, and enforceability of the remaining provisions shall not in any way be affected
Ordinance No.2007-10
General Obligation Refunding Bonds,Series 2007
45889459.1/10613025 9
or impaired thereby. The terms and provisions of this Bond and the Ordinance shall be
construed in accordance with and shall be governed by the laws of the State of Texas.
IN WITNESS WHEREOF, the City Council of the City has caused this Bond to be duly
executed under the official seal of the City as of the Bond Date.
CITY OF WYLIE, TEXAS
Mayor
COUNTERSIGNED:
City Secretary
(SEAL)
(c) Form of Registration Certificate of Comptroller of Public Accounts to appear on
Initial Bond(s) only.
REGISTRATION CERTIFICATE OF
COMPTROLLER OF PUBLIC ACCOUNTS
OFFICE OF THE COMPTROLLER )
OF PUBLIC ACCOUNTS ) REGISTER NO.
THE STATE OF TEXAS )
I HEREBY CERTIFY that this Bond has been examined, certified as to validity and
approved by the Attorney General of the State of Texas, and duly registered by the Comptroller
of Public Accounts of the State of Texas.
WITNESS my signature and seal of office this .
Comptroller of Public Accounts
of the State of Texas
(SEAL)
Ordinance No.2007-10
General Obligation Refunding Bonds,Series 2007
45889459.1/10613025 10
(d) Form of Certificate of Paving Agent/Registrar to appear on Definitive Bonds only.
REGISTRATION CERTIFICATE OF PAYING AGENT/REGISTRAR
This Bond has been duly issued and registered under the provisions of the
within-mentioned Ordinance; the bond or bonds of the above entitled and designated series
originally delivered having been approved by the Attorney General of the State of Texas and
registered by the Comptroller of Public Accounts, as shown by the records of the Paying
Agent/Registrar.
The designated offices of the Paying Agent/Registrar in Dallas, Texas is the"Designated
Payment/Transfer Office"for this Bond.
THE BANK OF NEW YORK TRUST
COMPANY, N.A., Dallas, Texas,
as Paying Agent/Registrar
Registration date:
By
Authorized Signature
(e) Form of Assignment.
ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sells, assigns, and transfers unto
(Print or typewrite name, address, and zip code of transferee):
(Social Security or other identifying number ) the within
Bond and all rights thereunder, and hereby irrevocably constitutes and appoints
attorney to transfer the within Bond on the books kept for registration thereof, with full power of
substitution in the premises.
DATED:
NOTICE: The signature on this
assignment must correspond with the
Signature guaranteed: name of the registered owner as it
appears on the face of the within Bond in
every particular.
Ordinance No.2007-10
General Obligation Refunding Bonds,Series 2007
45889459.1/10613025 11
(f) The Initial Bond(s) shall be in the form set forth in paragraph (b) of this Section,
except that the form of the single fully registered Initial Bond shall be modified as follows:
REGISTERED REGISTERED
NO. T-1 $
UNITED STATES OF AMERICA
STATE OF TEXAS
CITY OF WYLIE, TEXAS
GENERAL OBLIGATION REFUNDING BOND, SERIES 2007
Bond Date: March 15, 2007
Registered Owner:
Principal Amount:
The City of Wylie (hereinafter referred to as the "City"), a body corporate and municipal
corporation in the County of Collin, State of Texas, for value received, acknowledges itself
indebted to and hereby promises to pay to the Registered Owner named above, or the
registered assigns thereof, the Principal Amount hereinabove stated on February 15 in each of
the years and in principal installments in accordance with the following schedule:
STATED PRINCIPAL INTEREST
MATURITY INSTALLMENTS RATE
(Information to be inserted from schedule in Section 2 hereof).
(or so much principal thereof as shall not have been prepaid prior to maturity) and to pay
interest on the unpaid principal installments hereof from the interest payment date next
preceding the "Registration Date" of this Bond appearing below (unless this Bond bears a
"Registration Date"as of an interest payment date, in which case it shall bear interest from such
date, or unless the "Registration Date" of this Bond is prior to the initial interest payment date in
which case it shall bear interest from the Bond Date) at the per annum rates of interest specified
above computed on the basis of a 360 day year of twelve 30 day months; such interest being
payable on February 15 and August 15 in each year, commencing August 15, 2007. Principal
installments of this Bond are payable on the Stated Maturity dates or on a prepayment date to
the registered owner hereof by The Bank of New York Trust Company, N.A., Dallas, Texas (the
"Paying Agent/Registrar"), upon its presentation and surrender, at its designated offices in
Dallas, Texas (the "Designated Payment/Transfer Office"). Interest is payable to the registered
owner of this Bond whose name appears on the "Security Register" maintained by the Paying
Agent/Registrar at the close of business on the "Record Date", which is the last business day of
the month next preceding each interest payment date, and interest shall be paid by the Paying
Agent/Registrar by check sent United States Mail, first class postage prepaid, to the address of
the registered owner recorded in the Security Register or by such other method, acceptable to
the Paying Agent/Registrar, requested by, and at the risk and expense of, the registered owner.
If the date for the payment of the principal of or interest on the Bonds shall be a Saturday,
Sunday, a legal holiday, or a day when banking institutions in the City where the Designated
Payment/Transfer Office of the Paying Agent/Registrar is located are authorized by law or
executive order to close, then the date for such payment shall be the next succeeding day which
is not such a Saturday, Sunday, legal holiday, or day when banking institutions are authorized to
Ordinance No.2007-10
General Obligation Refunding Bonds,Series 2007
45889459.1/10613025 12
close; and payment on such date shall have the same force and effect as if made on the original
date payment was due. All payments of principal of, premium, if any, and interest on this Bond
shall be without exchange or collection charges to the owner hereof and in any coin or currency
of the United States of America which at the time of payment is legal tender for the payment of
public and private debts.
SECTION 10: Levy of Taxes. To provide for the payment of the "Debt Service
Requirements" of the Bonds, being (i) the interest on the Bonds and (ii) a sinking fund for their
payment at maturity or redemption or a sinking fund of 2% (whichever amount is the greater),
there is hereby levied, and there shall be annually assessed and collected in due time, form,
and manner, a tax on all taxable property in the City, within the limitations prescribed by law,
and such tax hereby levied on each one hundred dollars' valuation of taxable property in the
City for the Debt Service Requirements of the Bonds shall be at a rate from year to year as will
be ample and sufficient to provide funds each year to pay the principal of and interest on said
Bonds while Outstanding; full allowance being made for delinquencies and costs of collection;
separate books and records relating to the receipt and disbursement of taxes levied, assessed
and collected for and on account of the Bonds shall be kept and maintained by the City at all
times while the Bonds are Outstanding, and the taxes collected for the payment of the Debt
Service Requirements on the Bonds shall be deposited to the credit of a "Special 2007 Bond
Account" (the "Interest and Sinking Fund") maintained on the records of the City and deposited
in a special fund maintained at an official depository of the City's funds; and such tax hereby
levied, and to be assessed and collected annually, is hereby pledged to the payment of the
Bonds.
The Mayor, Mayor Pro Tern, City Manager, Finance Director and City Secretary of the
City, individually or jointly, are hereby authorized and directed to cause to be transferred to the
Paying Agent/ Registrar for the Bonds, from funds on deposit in the Interest and Sinking Fund,
amounts sufficient to fully pay and discharge promptly each installment of interest and principal
of the Bonds as the same accrues or matures or comes due by reason of redemption prior to
maturity; such transfers of funds to be made in such manner as will cause collected funds to be
deposited with the Paying Agent/Registrar on or before each principal and interest payment
date for the Bonds.
PROVIDED, however, in regard to the payments to become due on the Bonds on
August 15, 2007, sufficient current funds will be available and are hereby appropriated to make
such payments; and proper officials of the City are hereby authorized and directed to transfer
and deposit in the Interest and Sinking Fund such current funds which, together with the
accrued interest received from the initial purchasers, will be sufficient to pay the payments on
the Bonds on August 15, 2007.
SECTION 11: Mutilated-Destroyed-Lost and Stolen Bonds. In case any Bond shall be
mutilated, or destroyed, lost or stolen, the Paying Agent/Registrar may execute and deliver a
replacement Bond of like form and tenor, and in the same denomination and bearing a number
not contemporaneously outstanding, in exchange and substitution for such mutilated Bond, or in
lieu of and in substitution for such destroyed, lost or stolen Bond, only upon the approval of the
City and after (i) the filing by the Holder thereof with the Paying Agent/Registrar of evidence
satisfactory to the Paying Agent/Registrar of the destruction, loss or theft of such Bond, and of
the authenticity of the ownership thereof and (ii) the furnishing to the Paying Agent/Registrar of
indemnification in an amount satisfactory to hold the City and the Paying Agent/Registrar
harmless. All expenses and charges associated with such indemnity and with the preparation,
Ordinance No.2007-10
General Obligation Refunding Bonds,Series 2007
45889459.1/10613025 13
execution and delivery of a replacement Bond shall be borne by the Holder of the Bond
mutilated, or destroyed, lost or stolen.
Every replacement Bond issued pursuant to this Section shall be a valid and binding
obligation, and shall be entitled to all the benefits of this Ordinance equally and ratably with all
other Outstanding Bonds; notwithstanding the enforceability of payment by anyone of the
destroyed, lost, or stolen Bonds.
The provisions of this Section are exclusive and shall preclude (to the extent lawful) all
other rights and remedies with respect to the replacement and payment of mutilated, destroyed,
lost or stolen Bonds.
SECTION 12: Satisfaction of Obligation of City. If the City shall pay or cause to be paid,
or there shall otherwise be paid to the Holders, the principal of, premium, if any, and interest on
the Bonds, at the times and in the manner stipulated in this Ordinance, then the pledge of taxes
levied under this Ordinance and all covenants, agreements, and other obligations of the City to
the Holders shall thereupon cease, terminate, and be discharged and satisfied.
Bonds or any principal amount(s) thereof shall be deemed to have been paid within the
meaning and with the effect expressed above in this Section when (i) money sufficient to pay in
full such Bonds or the principal amount(s) thereof at maturity or to the redemption date therefor,
together with all interest due thereon, shall have been irrevocably deposited with and held in
trust by the Paying Agent/Registrar, or an authorized escrow agent, or (ii) Government
Securities shall have been irrevocably deposited in trust with the Paying Agent/Registrar, or an
authorized escrow agent, which Government Securities have been certified by an independent
accounting firm to mature as to principal and interest in such amounts and at such times as will
insure the availability, without reinvestment, of sufficient money, together with any moneys
deposited therewith, if any, to pay when due the principal of and interest on such Bonds, or the
principal amount(s) thereof, on and prior to the Stated Maturity thereof or (if notice of
redemption has been duly given or waived or if irrevocable arrangements therefor acceptable to
the Paying Agent/Registrar have been made) the redemption date thereof. The City covenants
that no deposit of moneys or Government Securities will be made under this Section and no use
made of any such deposit which would cause the Bonds to be treated as "arbitrage bonds"
within the meaning of Section 148 of the Internal Revenue Code of 1986, as amended, or
regulations adopted pursuant thereto.
Any moneys so deposited with the Paying Agent/ Registrar, or an authorized escrow
agent, and all income from Government Securities held in trust by the Paying Agent/Registrar,
or an authorized escrow agent, pursuant to this Section which is not required for the payment of
the Bonds, or any principal amount(s) thereof, or interest thereon with respect to which such
moneys have been so deposited shall be remitted to the City or deposited as directed by the
City. Furthermore, any money held by the Paying Agent/Registrar for the payment of the
principal of and interest on the Bonds and remaining unclaimed for a period of three (3) years
after the Stated Maturity, or applicable redemption date, of the Bonds such moneys were
deposited and are held in trust to pay shall upon the request of the City be remitted to the City
against a written receipt therefor. Notwithstanding the above and foregoing, any remittance of
funds from the Paying Agent/Registrar to the City shall be subject to any applicable unclaimed
property laws of the State of Texas.
Ordinance No.2007-10
General Obligation Refunding Bonds,Series 2007
45889459.1/10613025 14
The term "Government Securities" shall mean (i) direct noncallable obligations of the
United States of America, including obligations the principal of and interest on which are
unconditionally guaranteed by the United States of America, (ii) noncallable obligations of an
agency or instrumentality of the United States, including obligations unconditionally guaranteed
or insured by the agency or instrumentality and on the date of their acquisition or purchase by
the City are rated as to investment quality by a nationally recognized investment rating firm not
less than AAA or its equivalent and (iii) noncallable obligations of a state or an agency or a
county, municipality, or other political subdivision of a state that have been refunded and on the
date of their acquisition or purchase by the City, are rated as to investment quality by a
nationally recognized investment rating firm not less than AAA or its equivalent.
SECTION 13: Ordinance a Contract- Amendments - Outstanding Bonds. This
Ordinance shall constitute a contract with the Holders from time to time, be binding on the City,
and shall not be amended or repealed by the City so long as any Bond remains Outstanding
except as permitted in this Section and in Section 29 hereof. The City may, without the consent
of or notice to any Holders, from time to time and at any time, amend this Ordinance in any
manner not detrimental to the interests of the Holders, including the curing of any ambiguity,
inconsistency, or formal defect or omission herein. In addition, the City may, with the consent of
Holders holding a majority in aggregate principal amount of the Bonds then Outstanding,
amend, add to, or rescind any of the provisions of this Ordinance; provided that, without the
consent of all Holders of Outstanding Bonds, no such amendment, addition, or rescission shall
(1)extend the time or times of payment of the principal of, premium, if any, and interest on the
Bonds, reduce the principal amount thereof, the redemption price therefor, or the rate of interest
thereon, or in any other way modify the terms of payment of the principal of, premium, if any, or
interest on the Bonds, (2) give any preference to any Bond over any other Bond, or (3) reduce
the aggregate principal amount of Bonds required to be held by Holders for consent to any such
amendment, addition, or rescission.
The term "Outstanding"when used in this Ordinance with respect to Bonds means, as of
the date of determination, all Bonds theretofore issued and delivered under this Ordinance,
except:
(1) those Bonds cancelled by the Paying Agent/Registrar or delivered
to the Paying Agent/Registrar for cancellation;
(2) those Bonds deemed to be duly paid by the City in accordance
with the provisions of Section 12 hereof; and
(3) those mutilated, destroyed, lost, or stolen Bonds which have been
replaced with Bonds registered and delivered in lieu thereof as provided in
Section 11 hereof.
SECTION 14: Covenants to Maintain Tax-Exempt Status.
(a) Definitions. When used in this Section 14, the following terms have the following
meanings:
"Closing Date" means the date on which the Bonds are first authenticated
and delivered to the initial purchasers against payment therefor.
Ordinance No.2007-10
General Obligation Refunding Bonds,Series 2007
45889459.1/10613025 15
"Code" means the Internal Revenue Code of 1986, as amended by all
legislation, if any, effective on or before the Closing Date.
"Computation Date" has the meaning set forth in Section 1.148-1(b) of the
Regulations.
"Gross Proceeds" means any proceeds as defined in Section 1.148-1(b)
of the Regulations, and any replacement proceeds as defined in Section
1.148-1(c) of the Regulations, of the Bonds.
"Investment" has the meaning set forth in Section 1.148-1(b) of the
Regulations.
"Nonpurpose Investment" means any investment property, as defined in
section 148(b) of the Code, in which Gross Proceeds of the Bonds are invested
and which is not acquired to carry out the governmental purposes of the Bonds.
"Rebate Amount" has the meaning set forth in Section 1.148-1(b) of the
Regulations.
"Regulations" means any proposed, temporary, or final Income Tax
Regulations issued pursuant to Sections 103 and 141 through 150 of the Code,
and 103 of the Internal Revenue Code of 1954, which are applicable to the
Bonds. Any reference to any specific Regulation shall also mean, as
appropriate, any proposed, temporary or final Income Tax Regulation designed
to supplement, amend or replace the specific Regulation referenced.
"Yield" of(1) any Investment has the meaning set forth in Section 1.148-
5 of the Regulations and (2) the Bonds has the meaning set forth in Section
1.148-4 of the Regulations.
(b) Not to Cause Interest to Become Taxable. The City shall not use, permit the use
of, or omit to use Gross Proceeds or any other amounts (or any property the acquisition,
construction or improvement of which is to be financed directly or indirectly with Gross
Proceeds) in a manner which if made or omitted, respectively, would cause the interest on any
Bond to become includable in the gross income, as defined in section 61 of the Code, of the
owner thereof for federal income tax purposes. Without limiting the generality of the foregoing,
unless and until the City receives a written opinion of counsel nationally recognized in the field
of municipal bond law to the effect that failure to comply with such covenant will not adversely
affect the exemption from federal income tax of the interest on any Bond, the City shall comply
with each of the specific covenants in this Section.
(c) No Private Use or Private Payments. Except as permitted by section 141 of the
Code and the Regulations and rulings thereunder, the City shall at all times prior to the last
Stated Maturity of Bonds:
(1) exclusively own, operate and possess all property the acquisition,
construction or improvement of which is to be financed or refinanced directly or
indirectly with Gross Proceeds of the Bonds (including property financed with
Gross Proceeds of the Refunded Obligations), and not use or permit the use of
such Gross Proceeds (including all contractual arrangements with terms different
Ordinance No.2007-10
General Obligation Refunding Bonds,Series 2007
45889459.1/10613025 16
than those applicable to the general public) or any property acquired, constructed
or improved with such Gross Proceeds in any activity carried on by any person or
entity (including the United States or any agency, department and instrumentality
thereof) other than a state or local government, unless such use is solely as a
member of the general public; and
(2) not directly or indirectly impose or accept any charge or other
payment by any person or entity who is treated as using Gross Proceeds of the
Bonds or any property the acquisition, construction or improvement of which is to
be financed or refinanced directly or indirectly with such Gross Proceeds
(including property financed with Gross Proceeds of the Refunded Obligations),
other than taxes of general application within the City or interest earned on
investments acquired with such Gross Proceeds pending application for their
intended purposes.
(d) No Private Loan. Except to the extent permitted by section 141 of the Code and
the Regulations and rulings thereunder, the City shall not use Gross Proceeds of the Bonds to
make or finance loans to any person or entity other than a state or local government. For
purposes of the foregoing covenant, such Gross Proceeds are considered to be "loaned" to a
person or entity if: (1) property acquired, constructed or improved with such Gross Proceeds is
sold or leased to such person or entity in a transaction which creates a debt for federal income
tax purposes; (2) capacity in or service from such property is committed to such person or entity
under a take-or-pay, output or similar contract or arrangement; or (3) indirect benefits, or
burdens and benefits of ownership, of such Gross Proceeds or any property acquired,
constructed or improved with such Gross Proceeds are otherwise transferred in a transaction
which is the economic equivalent of a loan.
(e) Not to Invest at Higher Yield. Except to the extent permitted by section 148 of
the Code and the Regulations and rulings thereunder, the City shall not at any time prior to the
final Stated Maturity of the Bonds directly or indirectly invest Gross Proceeds in any Investment
(or use Gross Proceeds to replace money so invested), if as a result of such investment the
Yield from the Closing Date of all Investments acquired with Gross Proceeds (or with money
replaced thereby), whether then held or previously disposed of, exceeds the Yield of the Bonds.
(f) Not Federally Guaranteed. Except to the extent permitted by section 149(b) of
the Code and the Regulations and rulings thereunder, the City shall not take or omit to take any
action which would cause the Bonds to be federally guaranteed within the meaning of section
149(b) of the Code and the Regulations and rulings thereunder.
(g) Information Report. The City shall timely file the information required by section
149(e) of the Code with the Secretary of the Treasury on Form 8038-G or such other form and
in such place as the Secretary may prescribe.
(h) Rebate of Arbitrage Profits. Except to the extent otherwise provided in section
148(f) of the Code and the Regulations and rulings thereunder:
(1) The City shall account for all Gross Proceeds (including all
receipts, expenditures and investments thereof) on its books of account
separately and apart from all other funds (and receipts, expenditures and
investments thereof) and shall retain all records of accounting for at least six
years after the day on which the last Outstanding Bond is discharged. However,
Ordinance No.2007-10
General Obligation Refunding Bonds,Series 2007
45889459.1/10613025 17
to the extent permitted by law, the City may commingle Gross Proceeds of the
Bonds with other money of the City, provided that the City separately accounts
for each receipt and expenditure of Gross Proceeds and the obligations acquired
therewith.
(2) Not less frequently than each Computation Date, the City shall
calculate the Rebate Amount in accordance with rules set forth in section 148(f)
of the Code and the Regulations and rulings thereunder. The City shall maintain
such calculations with its official transcript of proceedings relating to the issuance
of the Bonds until six years after the final Computation Date.
(3) As additional consideration for the purchase of the Bonds by the
Purchasers and the loan of the money represented thereby and in order to
induce such purchase by measures designed to insure the excludability of the
interest thereon from the gross income of the owners thereof for federal income
tax purposes, the City shall pay to the United States out of the Interest and
Sinking Fund or its general fund, as permitted by applicable Texas statute,
regulation or opinion of the Attorney General of the State of Texas, the amount
that when added to the future value of previous rebate payments made for the
Bonds equals (i) in the case of a Final Computation Date as defined in Section
1.148-3(e)(2) of the Regulations, one hundred percent (100%) of the Rebate
Amount on such date; and (ii) in the case of any other Computation Date, ninety
percent (90%) of the Rebate Amount on such date. In all cases, the rebate
payments shall be made at the times, in the installments, to the place and in the
manner as is or may be required by section 148(f) of the Code and the
Regulations and rulings thereunder, and shall be accompanied by Form 8038-T
or such other forms and information as is or may be required by Section 148(f) of
the Code and the Regulations and rulings thereunder.
(4) The City shall exercise reasonable diligence to assure that no
errors are made in the calculations and payments required by paragraphs(2) and
(3), and if an error is made, to discover and promptly correct such error within a
reasonable amount of time thereafter(and in all events within one hundred eighty
(180) days after discovery of the error), including payment to the United States of
any additional Rebate Amount owed to it, interest thereon, and any penalty
imposed under Section 1.148 3(h) of the Regulations.
(i) Not to Divert Arbitrage Profits. Except to the extent permitted by section 148 of
the Code and the Regulations and rulings thereunder, the City shall not, at any time prior to the
earlier of the Stated Maturity or final payment of the Bonds, enter into any transaction that
reduces the amount required to be paid to the United States pursuant to Subsection (h) of this
Section because such transaction results in a smaller profit or a larger loss than would have
resulted if the transaction had been at arm's length and had the Yield of the Bonds not been
relevant to either party.
0) Elections. The City hereby directs and authorizes the Mayor, Mayor Pro Tem
City Manager, Finance Director and City Secretary, individually or jointly, to make elections
permitted or required pursuant to the provisions of the Code or the Regulations, as they deem
necessary or appropriate in connection with the Bonds, in the Certificate as to Tax Exemption or
similar or other appropriate certificate, form or document.
Ordinance No.2007-10
General Obligation Refunding Bonds,Series 2007
45889459.1/10613025 18
(k) Bonds Not Hedge Bonds. (1) At the time the original bonds refunded by the
Bonds were issued, the City reasonably expected to spend at least 85% of the spendable
proceeds of such bonds within three years after such bonds were issued and (2) not more than
50% of the proceeds of the original bonds refunded by the Bonds were invested in Nonpurpose
Investments having a substantially guaranteed Yield for a period of 4 years or more.
(I) Current Refunding of Series 1997 Refunded Bonds. The Bonds are a current
refunding of the Series 1997 Refunded Bonds in that the Bonds will be issued less than 90 days
before the redemption of the Series 1997 Refunded Bonds.
(m) Qualified Advance Refunding of Series 1999 and Series 2000 Refunded Bonds.
With respect to the Series 1999 Refunded Bonds and the Series 2000 Refunded Bonds (the
"Advance Refunded Obligations"), the Bonds will be issued more than 90 days before the
redemption of the such Advance Refunded Obligations. The City represents as follows:
(1) The Bonds are the first advance refunding of the Advance
Refunded Obligations, within the meaning of section 149(d)(3) of the Code.
(2) The Advance Refunded Obligations are being called for
redemption, and will be redeemed not later than the earliest date on which such
bonds may be redeemed.
(3) The initial temporary period under section 148(c) of the Code will
end: (i)with respect to the proceeds of the Bonds not later than 30 days after the
date of issue of such Bonds; and (ii) with respect to proceeds of the Advance
Refunded Obligations on the Closing Date if not ended prior thereto.
(4) On and after the date of issue of the Bonds, no proceeds of the
Advance Refunded Obligations will be invested in Nonpurpose Investments
having a Yield in excess of the Yield on such respective series of refunded
obligations.
(5) The Bonds are being issued for the purposes stated in the
preamble of this Ordinance. There is a present value savings associated with
the refunding. In the issuance of the Bonds the City has neither:
(i) overburdened the tax-exempt bond market by issuing more bonds, issuing
bonds earlier or allowing bonds to remain outstanding longer than reasonably
necessary to accomplish the governmental purposes for which the Bonds were
issued; (ii) employed on "abusive arbitrage device"within the meaning of Section
1.148-10(a) of the Regulations; nor (iii) employed a "device" to obtain a material
financial advantage based on arbitrage, within the meaning of section 149(d)(4)
of the Code, apart from savings attributable to lower interest rates and reduced
debt service payments in early years.
SECTION 15: Sale of Bonds - Official Statement Approval. The Bonds authorized by
this Ordinance are hereby sold by the City to Citigroup Global Markets, Inc. and Morgan Keegan
& Company, Inc. (herein referred to as the "Underwriters") in accordance with the Bond
Purchase Agreement, dated March 27, 2007, attached hereto as Exhibit B and incorporated
herein by reference as a part of this Ordinance for all purposes. The Mayor is hereby
authorized and directed to execute said Bond Purchase Agreement for and on behalf of the City
and as the act and deed of this City Council, and in regard to the approval and execution of the
Ordinance No.2007-10
General Obligation Refunding Bonds,Series 2007
45889459.1/10613025 19
Bond Purchase Agreement, the City Council hereby finds, determines and declares that the
representations, warranties and agreements of the City contained in the Bond Purchase
Agreement are true and correct in all material respects and shall be honored and performed by
the City.
Furthermore, the use of the Preliminary Official Statement by the Underwriters in
connection with the public offering and sale of the Bonds is hereby ratified, confirmed and
approved in all respects. The final Official Statement, which reflects the terms of sale (together
with such changes approved by the Mayor, City Secretary, City Manager, and Finance Director,
one or more of said officials), shall be and is hereby in all respects approved and the
Underwriters are hereby authorized to use and distribute said final Official Statement, dated
March 27, 2007, in the reoffering, sale and delivery of the Bonds to the public. The Mayor and
City Secretary are further authorized and directed to manually execute and deliver for and on
behalf of the City copies of said Official Statement in final form as may be required by the
Underwriters, and such final Official Statement in the form and content manually executed by
said officials shall be deemed to be approved by the City Council and constitute the Official
Statement authorized for distribution and use by the Underwriters.
SECTION 16: Special Escrow Agreement Approval and Execution. The "Special
Escrow Agreement" (the "Agreement") by and between the City and The Bank of New York
Trust Company, N.A., Dallas, Texas (the "Escrow Agent"), attached hereto as Exhibit C and
incorporated herein by reference as a part of this Ordinance for all purposes, is hereby
approved as to form and content, and such Agreement in substantially the form and substance
attached hereto, together with such changes or revisions as may be necessary to accomplish
the refunding or benefit the City, is hereby authorized to be executed by the Mayor and City
Secretary for and on behalf of the City and as the act and deed of this City Council; and such
Agreement as executed by said officials shall be deemed approved by the City Council and
constitute the Agreement herein approved.
Furthermore, appropriate officials of the City in cooperation with the Escrow Agent are
hereby authorized and directed to make the necessary arrangements for the purchase of the
escrowed securities referenced in the Agreement and the delivery thereof to the Escrow Agent
on the day of delivery of the Bonds to the Underwriters for deposit to the credit of the "SPECIAL
2007 CITY OF WYLIE, TEXAS, REFUNDING BOND ESCROW FUND" (the "Escrow Fund"); all
as contemplated and provided in V.T.C.A., Government Code, Chapter 1207, as amended, this
Ordinance and the Agreement.
SECTION 17: Control and Custody of Bonds. The Mayor of the City shall be and is
hereby authorized to take and have charge of all necessary orders and records pending
investigation by the Attorney General of the State of Texas, including the printing and supply of
definitive Bonds, and shall take and have charge and control of the Initial Bond(s) pending the
approval thereof by the Attorney General, the registration thereof by the Comptroller of Public
Accounts and the delivery thereof to the Underwriters.
Furthermore, the Mayor, Mayor Pro Tem, City Secretary, City Manager, and Finance
Director, any one or more of said officials, are hereby authorized and directed to furnish and
execute such documents and certifications relating to the City and the issuance of the Bonds,
including certifications as to facts, estimates, circumstances and reasonable expectations
pertaining to the use, expenditure, and investment of the proceeds of the Bonds, as may be
necessary for the approval of the Attorney General, the registration by the Comptroller of Public
Accounts and the delivery of the Bonds to the Underwriters, and, together with the City's
Ordinance No.2007-10
General Obligation Refunding Bonds,Series 2007
45889459.1/10613025 20
financial advisor, bond counsel and the Paying Agent/Registrar, make the necessary
arrangements for the delivery of the Initial Bond(s) to the Underwriters and the initial exchange
thereof for definitive Bonds.
SECTION 18: Proceeds of Sale. Immediately following the delivery of the Bonds,
proceeds of sale in the sum of (i) $ shall be deposited to the credit of the Escrow
Fund and (ii) $ shall be deposited to the credit of the Interest and Sinking Fund.
The balance of the proceeds of sale of the Bonds shall be expended to pay costs of issuance
and municipal bond insurance premium and any excess amount budgeted for such purpose
shall be deposited to the credit of the Interest and Sinking Fund.
Additionally, on or immediately prior to the date of the delivery of the Bonds to the
Purchasers, the Finance Director shall cause to be transferred in immediately available funds to
the Escrow Agent from moneys on deposit in the interest and sinking funds maintained for the
payment of the Refunded Obligations the sum of$ to accomplish the refunding.
SECTION 19: Redemption of Refunded Obligations.
(a) The bonds of that series known as "City of Wylie, Texas, General Obligation
Bonds, Series 1997", dated January 1, 1997, maturing in the years 2008 through 2014 and
2017, and aggregating in principal amount $1,790,000, shall be redeemed and the same are
hereby called for redemption on June 1, 2007, at the price of par and accrued interest to the
date of redemption. The City Secretary is hereby authorized and directed to file a copy of this
Ordinance, together with a suggested form of notice of redemption to be sent to bondholders,
with The Bank of New York Trust Company, N.A., Dallas, Texas (successor paying
agent/registrar to Texas Commerce Bank, National Association), in accordance with the
redemption provisions applicable to such bonds; such suggested form of notice of redemption
being attached hereto as Exhibit D and incorporated herein by reference as a part of this
Ordinance for all purposes.
(b) The bonds of that series known as "City of Wylie, Texas, General Obligation
Bonds, Series 1999", dated September 1, 1999, maturing in the years 2011 through 2019, and
aggregating in principal amount$1,870,000, shall be redeemed and the same are hereby called
for redemption on February 15, 2009, at the price of par and accrued interest to the date of
redemption. The City Secretary is hereby authorized and directed to file a copy of this
Ordinance, together with a suggested form of notice of redemption to be sent to bondholders,
with The Bank of New York Trust Company, N.A., Dallas, Texas (successor paying
agent/registrar to Chase Bank of Texas, N.A.), in accordance with the redemption provisions
applicable to such bonds; such suggested form of notice of redemption being attached hereto
as Exhibit E and incorporated herein by reference as a part of this Ordinance for all purposes.
(c) The bonds of that series known as "City of Wylie, Texas, General Obligation
Bonds, Series 2000", dated August 15, 2000, maturing in the years 2013 through 2018 and
2020, and aggregating in principal amount $1,085,000, shall be redeemed and the same are
hereby called for redemption on February 15, 2010, at the price of par and accrued interest to
the date of redemption. The City Secretary is hereby authorized and directed to file a copy of
this Ordinance, together with a suggested form of notice of redemption to be sent to
bondholders, with The Bank of New York Trust Company, N.A., Dallas, Texas (successor
paying agent/registrar to The Chase Manhattan Bank), in accordance with the redemption
provisions applicable to such bonds; such suggested form of notice of redemption being
Ordinance No.2007-10
General Obligation Refunding Bonds,Series 2007
45889459.1/10613025 21
attached hereto as Exhibit F and incorporated herein by reference as a part of this Ordinance
for all purposes.
The redemption of the obligations described above being associated with the advance
refunding of such obligations, the approval, authorization and arrangements herein given and
provided for the redemption of such obligations on the redemption dates designated therefor
and in the manner provided shall be irrevocable upon the issuance and delivery of the Bonds;
and the City Secretary is hereby authorized and directed to make all arrangements necessary to
notify the holders of such obligations of the City's decision to redeem such obligations on the
dates and in the manner herein provided and in accordance with the ordinances authorizing the
issuance of the obligations and this Ordinance.
SECTION 20: Notices to Holders-Waiver. Wherever this Ordinance provides for notice
to Holders of any event, such notice shall be sufficiently given (unless otherwise herein
expressly provided) if in writing and sent by United States Mail, first class postage prepaid, to
the address of each Holder appearing in the Security Register at the close of business on the
business day next preceding the mailing of such notice.
In any case where notice to Holders is given by mail, neither the failure to mail such
notice to any particular Holders, nor any defect in any notice so mailed, shall affect the
sufficiency of such notice with respect to all other Bonds. Where this Ordinance provides for
notice in any manner, such notice may be waived in writing by the Holder entitled to receive
such notice, either before or after the event with respect to which such notice is given, and such
waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with
the Paying Agent/Registrar, but such filing shall not be a condition precedent to the validity of
any action taken in reliance upon such waiver.
SECTION 21: Cancellation. All Bonds surrendered for payment, redemption, transfer,
exchange, or replacement, if surrendered to the Paying Agent/Registrar, shall be promptly
cancelled by it and, if surrendered to the City, shall be delivered to the Paying Agent/Registrar
and, if not already cancelled, shall be promptly cancelled by the Paying Agent/Registrar. The
City may at any time deliver to the Paying Agent/Registrar for cancellation any Bonds previously
certified or registered and delivered which the City may have acquired in any manner
whatsoever, and all Bonds so delivered shall be promptly cancelled by the Paying
Agent/Registrar. All cancelled Bonds held by the Paying Agent/Registrar shall be returned to
the City.
SECTION 22: Legal Opinion. The obligation of the Underwriters to accept delivery of
the Bonds is subject to being furnished a final legal opinion of Fulbright & Jaworski L.L.P.
approving such Bonds as to their validity, said opinion to be dated and delivered as of the date
of delivery and payment for such Bonds. A true and correct reproduction of said opinion is
hereby authorized to be printed on the definitive Bonds or an executed counterpart thereof shall
accompany the global Bonds deposited with the Depository Trust Company.
SECTION 23: CUSIP Numbers. CUSIP numbers may be printed or typed on the
definitive Bonds. It is expressly provided, however, that the presence or absence of CUSIP
numbers on the definitive Bonds shall be of no significance or effect as regards the legality
thereof and neither the City nor attorneys approving the Bonds as to legality are to be held
responsible for CUSIP numbers incorrectly printed or typed on the definitive Bonds.
Ordinance No.2007-10
General Obligation Refunding Bonds,Series 2007
45889459.1/10613025 22
SECTION 24: Benefits of Ordinance. Nothing in this Ordinance, expressed or implied,
is intended or shall be construed to confer upon any person other than the City, the Paying
Agent/Registrar and the Holders, any right, remedy, or claim, legal or equitable, under or by
reason of this Ordinance or any provision hereof, this Ordinance and all its provisions being
intended to be and being for the sole and exclusive benefit of the City, the Paying
Agent/Registrar and the Holders.
SECTION 25: Inconsistent Provisions. All ordinances, orders or resolutions, or parts
thereof, which are in conflict or inconsistent with any provision of this Ordinance are hereby
repealed to the extent of such conflict, and the provisions of this Ordinance shall be and remain
controlling as to the matters contained herein.
SECTION 26: Governing Law. This Ordinance shall be construed and enforced in
accordance with the laws of the State of Texas and the United States of America.
SECTION 27: Effect of Headings. The Section headings herein are for convenience
only and shall not affect the construction hereof.
SECTION 28: Construction of Terms. If appropriate in the context of this Ordinance,
words of the singular number shall be considered to include the plural, words of the plural
number shall be considered to include the singular, and words of the masculine, feminine or
neuter gender shall be considered to include the other genders.
SECTION 29: Continuing Disclosure Undertaking.
(a) Definitions. As used in this Section, the following terms have the meanings
ascribed to such terms below:
"MSRB" means the Municipal Securities Rulemaking Board.
"NRMSIR" means each person whom the SEC or its staff has determined to be a
nationally recognized municipal securities information repository within the
meaning of the Rule from time to time.
"Rule" means SEC Rule 15c2-12, as amended from time to time.
"SEC" means the United States Securities and Exchange Commission.
"SID" means any person designated by the State of Texas or an authorized
department, officer, or agency thereof as, and determined by the SEC or its staff
to be, a state information depository within the meaning of the Rule from time to
time.
(b) Annual Reports. The City shall provide annually to each NRMSIR and any SID,
within six months after the end of each fiscal year (beginning with the fiscal year ending
September 30, 2007) financial information and operating data with respect to the City of the
general type included in the final Official Statement approved by Section 15 of this Ordinance,
being the information described in Exhibit G hereto. Financial statements to be provided shall
be (1) prepared in accordance with the accounting principles described in Exhibit G hereto and
(2) audited, if the City commissions an audit of such statements and the audit is completed
within the period during which they must be provided. If audited financial statements are not
Ordinance No.2007-10
General Obligation Refunding Bonds,Series 2007
45889459.1/10613025 23
available at the time the financial information and operating data must be provided, then the City
shall provide unaudited financial statements for the applicable fiscal year to each NRMSIR and
any SID with the financial information and operating data and will file the audited financial
statements, when and if audited financial statements become available.
If the City changes its fiscal year, it will notify each NRMSIR and any SID of the change
(and of the date of the new fiscal year end) prior to the next date by which the City otherwise
would be required to provide financial information and operating data pursuant to this Section.
The financial information and operating data to be provided pursuant to this Section may
be set forth in full in one or more documents or may be included by specific reference to any
document (including an official statement or other offering document, if it is available from the
MSRB)that theretofore has been provided to each NRMSIR and any SID or filed with the SEC..
(c) Material Event Notices. The City shall notify any SID and either each NRMSIR or
the MSRB, in a timely manner, of any of the following events with respect to the Bonds, if such
event is material within the meaning of the federal securities laws:
1. Principal and interest payment delinquencies;
2. Non-payment related defaults;
3. Unscheduled draws on debt service reserves reflecting financial difficulties;
4. Unscheduled draws on credit enhancements reflecting financial difficulties;
5. Substitution of credit or liquidity providers, or their failure to perform;
6. Adverse tax opinions or events affecting the tax-exempt status of the Bonds;
7. Modifications to rights of holders of the Bonds;
8. Bond calls;
9. Defeasances;
10. Release, substitution, or sale of property securing repayment of the Bonds; and
11. Rating changes.
The City shall notify any SID and either each NRMSIR or the MSRB, in a timely manner,
of any failure by the City to provide financial information or operating data in accordance with
subsection (b) of this Section by the time required by such Section.
(d) Limitations, Disclaimers, and Amendments. The City shall be obligated to
observe and perform the covenants specified in this Section while, but only while, the City
remains an "obligated person" with respect to the Bonds within the meaning of the Rule, except
that the City in any event will give the notice required by subsection (c) hereof of any Bond calls
and defeasance that cause the City to be no longer such an "obligated person."
The provisions of this Section are for the sole benefit of the Holders and beneficial
owners of the Bonds, and nothing in this Section, express or implied, shall give any benefit or
any legal or equitable right, remedy, or claim hereunder to any other person. The City
undertakes to provide only the financial information, operating data, financial statements, and
notices which it has expressly agreed to provide pursuant to this Section and does not hereby
undertake to provide any other information that may be relevant or material to a complete
presentation of the City's financial results, condition, or prospects or hereby undertake to update
any information provided in accordance with this Section or otherwise, except as expressly
provided herein. The City does not make any representation or warranty concerning such
information or its usefulness to a decision to invest in or sell Bonds at any future date.
Ordinance No.2007-10
General Obligation Refunding Bonds,Series 2007
45889459.1/10613025 24
UNDER NO CIRCUMSTANCES SHALL THE CITY BE LIABLE TO THE HOLDER OR
BENEFICIAL OWNER OF ANY BOND OR ANY OTHER PERSON, IN CONTRACT OR TORT,
FOR DAMAGES RESULTING IN WHOLE OR IN PART FROM ANY BREACH BY THE CITY,
WHETHER NEGLIGENT OR WITHOUT FAULT ON ITS PART, OF ANY COVENANT
SPECIFIED IN THIS SECTION, BUT EVERY RIGHT AND REMEDY OF ANY SUCH PERSON,
IN CONTRACT OR TORT, FOR OR ON ACCOUNT OF ANY SUCH BREACH SHALL BE
LIMITED TO AN ACTION FOR MANDAMUS OR SPECIFIC PERFORMANCE.
No default by the City in observing or performing its obligations under this Section shall
constitute a breach of or default under this Ordinance for purposes of any other provision of this
Ordinance.
Nothing in this Section is intended or shall act to disclaim, waive, or otherwise limit the
duties of the City under federal and state securities laws.
Notwithstanding anything to the contrary in this Ordinance, the provisions of this Section
may be amended by the City from time to time to adapt to changed circumstances resulting
from a change in legal requirements, a change in law, or a change in the identity, nature, status,
or type of operations of the City, but only if (1) the provisions of this Section, as so amended,
would have permitted an underwriter to purchase or sell Bonds in the primary offering of the
Bonds in compliance with the Rule, taking into account any amendments or interpretations of
the Rule to the date of such amendment, as well as such changed circumstances, and (2) either
(a) the Holders of a majority in aggregate principal amount (or any greater amount required by
any other provision of this Ordinance that authorizes such an amendment) of the Outstanding
Bonds consent to such amendment or (b) a Person that is unaffiliated with the City (such as
nationally recognized bond counsel) determines that such amendment will not materially impair
the interests of the Holders and beneficial owners of the Bonds. The provisions of this Section
may also be amended from time to time or repealed by the City if the SEC amends or repeals
the applicable provisions of the Rule or a court of final jurisdiction determines that such
provisions are invalid, but only if and to the extent that reservation of the City's right to do so
would not prevent underwriters of the initial public offering of the Bonds from lawfully purchasing
or selling Bonds in such offering. If the City so amends the provisions of this Section, it shall
include with any amended financial information or operating data filed with each NRMSIR and
SID pursuant to subsection (b) of this Section an explanation, in narrative form, of the reasons
for the amendment and of the impact of any change in the type of financial information or
operating data so provided.
SECTION 30: Severability. If any provision of this Ordinance or the application thereof
to any circumstance shall be held to be invalid, the remainder of this Ordinance and the
application thereof to other circumstances shall nevertheless be valid, and the City Council
hereby declares that this Ordinance would have been enacted without such invalid provision.
SECTION 31: Public Meeting. It is officially found, determined, and declared that the
meeting at which this Ordinance is adopted was open to the public and public notice of the time,
place, and subject matter of the public business to be considered at such meeting, including this
Ordinance, was given, all as required by V.T.C.A., Government Code, Chapter 551, as
amended.
Ordinance No.2007-10
General Obligation Refunding Bonds,Series 2007
45889459.1/10613025 25
SECTION 32: Effective Date. This Ordinance shall take effect and be in full force from
and after its adoption on the date shown below in accordance with V.T.C.A., Government Code,
Section 1201.028.
[remainder of page left blank intentionally]
Ordinance No.2007-10
General Obligation Refunding Bonds,Series 2007
45889459.1/10613025 26
PASSED AND ADOPTED, this March 27, 2007.
CITY OF WYLIE, TEXAS
Mayor
ATTEST:
City Secretary
(City Seal)
Ordinance No.g 2007-10
Ge 94591%cation a nding Bonds,Series 2007 S-1
EXHIBIT A
PAYING AGENT/REGISTRAR AGREEMENT
Ordinance No.2007-10
General Obligation Refunding Bonds,Series 2007 A l
EXHIBIT B
BOND PURCHASE AGREEMENT
Ordinance No.2007-10
General Obligation
Refunding Bonds,Series 2007 B_
EXHIBIT C
SPECIAL ESCROW AGREEMENT
Ordinance No.2007-10
Gen
General
b1/1atioRefunding
Re unding Bonds,Series 2007 C_
EXHIBIT D
NOTICE OF REDEMPTION
CITY OF WYLIE, TEXAS
GENERAL OBLIGATION BONDS
SERIES 1997
DATED JANUARY 1, 1997
NOTICE IS HEREBY GIVEN that the bonds of the above series maturing on and after
February 15, 2008, and aggregating in principal amount $1,790,000 have been called for
redemption on June 1, 2007 at the redemption price of par and accrued interest to the date of
redemption, such bonds being identified as follows:
Year of CUSIP Year of CUSIP
Maturity Principal Amount Number Maturity Principal Amount Number
2008 $135,000 2012 $170,000
2009 $145,000 2013 $180,000
2010 $150,000 2014 $195,000
2011 $160,000
2017 $655,000
ALL SUCH BONDS shall become due and payable on June 1, 2007, and interest
thereon shall cease to accrue from and after said redemption date and payment of the
redemption price of said bonds shall be paid to the registered owners of the bonds only upon
presentation and surrender thereof to The Bank of New York Trust Company, N.A., Dallas,
Texas (successor paying agent/registrar to Texas Commerce Bank, National Association) at its
designated offices at the following addresses:
First Class/
Registered/Certified Express Delivery/Courier By Hand Only
JPMorgan Chase Bank N.A. JPMorgan Chase Bank N.A. JPMorgan Chase Bank N.A.
Institutional Trust Services Institutional Trust Services Room 234-North Building
P. O. Box 2320 2001 Bryan Street, Institutional Trust
Dallas, Texas 75221-2320 9th Floor Securities Window
Dallas, Texas 75201 55 Water Street
New York, New York 10041
THIS NOTICE is issued and given pursuant to the terms and conditions prescribed for
the redemption of said bonds and pursuant to an ordinance by the City Council of the City of
Wylie, Texas.
THE BANK OF NEW YORK TRUST
COMPANY, N.A., Dallas, Texas
Address: 2001 Bryan Street, 8th Floor
Dallas, Texas 75201
Ordinance No.2007-10
General Obligation Refunding Bonds,Series 2007
45889459.1/10613025 D-1
EXHIBIT E
NOTICE OF REDEMPTION
CITY OF WYLIE, TEXAS
GENERAL OBLIGATION BONDS
SERIES 1999
DATED SEPTEMBER 1, 1999
NOTICE IS HEREBY GIVEN that the bonds of the above series maturing on and after
February 15, 2011, and aggregating in principal amount $1,870,000 have been called for
redemption on February 15, 2009 at the redemption price of par and accrued interest to the date
of redemption, such bonds being identified as follows:
Year of CUSIP Year of CUSIP
Maturity Principal Amount Number Maturity Principal Amount Number
2011 $165,000 2016 $215,000
2012 $175,000 2017 $230,000
2013 $185,000 2018 $245,000
2014 $195,000 2019 $255,000
2015 $205,000
ALL SUCH BONDS shall become due and payable on February 15, 2009, and interest
thereon shall cease to accrue from and after said redemption date and payment of the
redemption price of said bonds shall be paid to the registered owners of the bonds only upon
presentation and surrender thereof to The Bank of New York Trust Company, N.A., Dallas,
Texas (successor paying agent/registrar to Chase Bank of Texas, N.A.) at its designated offices
at the following addresses:
First Class/
Registered/Certified Express Delivery/Courier By Hand Only
JPMorgan Chase Bank N.A. JPMorgan Chase Bank N.A. JPMorgan Chase Bank N.A.
Institutional Trust Services Institutional Trust Services Room 234-North Building
P. O. Box 2320 2001 Bryan Street, Institutional Trust
Dallas, Texas 75221-2320 9th Floor Securities Window
Dallas, Texas 75201 55 Water Street
New York, New York 10041
THIS NOTICE is issued and given pursuant to the terms and conditions prescribed for
the redemption of said bonds and pursuant to an ordinance by the City Council of the City of
Wylie, Texas.
THE BANK OF NEW YORK TRUST
COMPANY, N.A., Dallas, Texas
Address: 2001 Bryan Street, 8th Floor
Dallas, Texas 75201
Ordinance No.2007-10
General Obligation Refunding Bonds,Series 2007
45889459.1/10613025 E-1
EXHIBIT F
NOTICE OF REDEMPTION
CITY OF WYLIE, TEXAS
GENERAL OBLIGATION BONDS
SERIES 2000
DATED AUGUST 15, 2000
NOTICE IS HEREBY GIVEN that the bonds of the above series maturing on and after
February 15, 2013, and aggregating in principal amount $1,085,000 have been called for
redemption on February 15, 2010 at the redemption price of par and accrued interest to the date
of redemption, such bonds being identified as follows:
Year of CUSIP Year of CUSIP
Maturity Principal Amount Number Maturity Principal Amount Number
2013 $110,000 2017 $140,000
2014 $115,000 2018 $145,000
2015 $125,000
2016 $130,000 2020 $320,000
ALL SUCH BONDS shall become due and payable on February 15, 2010, and interest
thereon shall cease to accrue from and after said redemption date and payment of the
redemption price of said bonds shall be paid to the registered owners of the bonds only upon
presentation and surrender thereof to The Bank of New York Trust Company, N.A., Dallas,
Texas (successor paying agent/registrar to The Chase Manhattan Bank) at its designated
offices at the following addresses:
First Class/
Registered/Certified Express Delivery/Courier By Hand Only
JPMorgan Chase Bank N.A. JPMorgan Chase Bank N.A. JPMorgan Chase Bank N.A.
Institutional Trust Services Institutional Trust Services Room 234-North Building
P. O. Box 2320 2001 Bryan Street, Institutional Trust
Dallas, Texas 75221-2320 9th Floor Securities Window
Dallas, Texas 75201 55 Water Street
New York, New York 10041
THIS NOTICE is issued and given pursuant to the terms and conditions prescribed for
the redemption of said bonds and pursuant to an ordinance by the City Council of the City of
Wylie, Texas.
THE BANK OF NEW YORK TRUST
COMPANY, N.A., Dallas, Texas
Address: 2001 Bryan Street, 8th Floor
Dallas, Texas 75201
Ordinance No.2007-10
General Obligation Refunding Bonds,Series 2007
45889459.1/10613025 F-1
Exhibit G
to
Ordinance
DESCRIPTION OF ANNUAL FINANCIAL INFORMATION
The following information is referred to in Section 29 of this Ordinance.
Annual Financial Statements and Operating Data
The financial information and operating data with respect to the City to be provided
annually in accordance with such Section are as specified (and included in the Appendix or
under the headings of the Official Statement referred to) below:
1. The financial statements of the City appended to the Official
Statement as Appendix B for the most recently concluded fiscal year.
2. The information contained in Tables 1 through 6 and 8 through 15
in the Official Statement.
Accounting Principles
The accounting principles referred to in such Section are the accounting principles
described in the notes to the financial statements referred to in paragraph 1 above
Ordinance No.2007-10
General Obligation Refunding Bonds,Series 2007
45889459.1/10613025 G-1
City of'Nylie
General Obligation Refunding Bonds,Series 2007
Combination Tax and Revenue Certificates of Obligation,Series 2007
Feb-07 Mar-07 Apr-07 May-07
SMTWTFS SMTWTFS SMTWTFS SMTWTFS
1 2 3 2 j l 3
I 1 2 3 4 i 5 61 7 1 1 1 2 3 4 1 5
4 5 6 7 8 9 10 41 51 6 71 8 9 10 8 9 10 11 12 13114 6 7 8 9 10 11 12
t
11 12 13 14 15 16 17 11'12 13114 15 16 17 15 16 17 18119 20i21 13114 15,16 17 18119
18 19 20 211 22 23 24 18 19 20 21 j 22 23 24 22 23 24 251 26 271 28 20 21 221 23 24 251 26
25 26 27 281 25 26 27 28129 30 31 29 30 1 27 28 291 30 31
i I
i
Complete
By Day Event
14-Feb-07 Wednesday Begin preparation of Official Statemen
21-Feb-07 Wednesday Initial Draft of Official Statement distributed to City and t,
Bond Counsel for review
27-Feb-07 Tuesday Council passes resolution authorizing Notice of Intent
Publication for Certificates of Obligation
7-Mar-07 Wednesday Receive Official Statement information from City
TBD First Publication of Notice of Intent to Issue Certificate
no later than March 10,2007
8-Mar-07 Thursday Provide draft of Preliminary Official Statement to credit rating
agencies and insurance companies for review
TBD Second Publication of Notice of Intent to Issue Certificates
(same day of the week following 1st publication)
16-Mar-07 Friday Finalize Preliminary Official Statement
Distribute Preliminary Official Statement electronically
through i-Deal Prospectus to Underwriters
21-Mar-07 Wednesday Receive credit ratings and insurance bids
26-Mar-07 Monday Pricing and verbal award to Underwriters
27-Mar-07 Tuesday City Adopts Ordinances and Awards Bonds and
Certificates to Underwriters
2-Apr-07 Monday Prepare and distribute Final Official Statement
9-May-07 Wednesday Closing and delivery of funds
rm
First Southwest Company
Preliminary
$4,890,000
City of Wylie,Texas
General Obligation Refunding Bonds
Series 2007
Debt Service Comparison
Date Total P+I Existing D/S Net New D/S Old Net D/S Savings
09/30/2007 82,06354 23,830.00 80,727.39 80,727.39 (0.00)
09/30/2008 358,65250 260,830.00 619,482.50 642,432.51 22,950.01
09/30/2009 361,85250 263,125.00 624,977.50 647,603.14 22,625.64
09/30/2010 359,75250 261,125.00 620,877.50 643,043.77 22,166.27
09/30/2011 524,05250 102,625.00 626,677.50 647,292.52 20,615.02
09/30/2012 519,65250 107,625.00 627,277.50 654,938.14 27,660.64
09/30/2013 632,45250 - 632,452.50 656,026.26 23,573.76
09/30/2014 637,15250 - 637,152.50 660,458.76 23,306.26
09/30/2015 640,85250 - 640,852.50 663,028.13 22,175.63
09/30/2016 638,65250 - 638,652.50 663,823.75 25,171.25
09/30/2017 645,45250 - 645,452.50 667,823.75 22,371.25
09/30/2018 415,660A0 - 415,660.00 431,406.25 15,746.25
09/30/2019 409,57125 - 409,571.25 430,031.25 20,460.00
09/30/2020 153,18750 - 153,187.50 169,537.50 16,350.00
Total $6,379,007.29 $1,019,160.00 $7,373,001.14 $7,658,173.12 $285,17198
PV Analysis Summary(Net to Net)
Gross PV Debt Service Savings 256,83951
Net PV Cashflow Savings® 4.353%(AIC) 256,83951
Accrued Interest Credit to Debt Service Fund 25,166.15
Transfers from Prior Issue Debt Service Fund (68,10824)
Net Present Value Benefit $213,897.42
Net PV Benefit/ $4,745,000 Refunded Principal 4.508%
Refunding Bond Information
Refunding Dated Date 3/152007
Refunding Delivery Date 5/012007
Pricing Files-2007 I GO Refunding I 3/19/2007 I 3:47 PM
First Southwest Company
Public Finance Department Page 1
Preliminary
$4,890,000
City of Wylie,Texas
General Obligation Refunding Bonds
Series 2007
Sources & Uses
Dated 03/15/2007 I Delivered 05/01/2007
Sources Of Funds
Par Amount of Bonds $4,890,000.00
Reoffering Premium 36,96620
Accrued Interest from 03/15/2007 to05/01/2007 25,166.15
Transfers from Prior Issue Debt Service Funds 68,10824
Total Sources $5,020,240.59
Uses Of Funds
Or final Issue Discount(OID) 1,273.85
Total Underwriter's Discount (0.750%) 36,675.00
Costs of Issuance 70,000.00
Gross Bond Insurance Premium(35.0 bp) 22,32653
Deposit to Debt Service Fund 25 166.15
Depsit to Net Cash Escrow Fund 4,863579.39-
Roundin Amount 1,219.67
Total Uses $5,020,240.59
Pricing Files-2007 I GO Refunding I 3/19/2007 I 3:47 PM
First Southwest Company
Public Finance Department Page 2
Preliminary
$4,890,000
City of Wylie, Texas
General Obligation Refunding Bonds
Series 2007
Debt Service Schedule Part 1 of 2
Date Principal Coupon Interest Total P+I Fiscal Total
05/01/2007 - - - - -
08/15/2007 - - 82,06354 82,063.54 -
09/30/2007 - - - - 82,06354
02/15/2008 165,000.00 4.000% 98,47625 263,476.25 -
08/15/2008 - - 95,17625 95,176.25 -
09/30/2008 358,65250
02/15/2009 175,000.00 4.000% 95,17625 270,176.25 -
08/15/2009 - - 91,67625 91,676.25 -
09/30/2009 - - - - 361,85250
02/15/2010 180,000.00 4.000% 91,67625 271,676.25 -
08/15/2010 88,07625 88,076.25 -
09/30/2010 - - - - 359,75250
02/15/2011 355,000.00 4.000% 88,07625 443,076.25 -
08/15/2011 - - 80,97625 80,976.25 -
09/30/2011 - - - - 524,05250
02/15/2012 365,000.00 4.000% 80,97625 445,976.25 -
08/15/2012 - - 73,67625 73,676.25 -
09/30/2012 - - - - 519,65250
02/15/2013 495,000.00 4.000% 73,67625 568,676.25 -
08/15/2013 - - 63,77625 63,776.25 -
09/30/2013 -
632,45250
02/15/2014 520,000.00 4.000% 63,77625 583,776.25 -
08/15/2014 - - 53,37625 53,376.25 -
09/30/2014 - - - - 637,15250
02/15/2015 545,000.00 4.000% 53,37625 598,376.25 -
08/15/2015 42,47625 42,476.25 -
09/30/2015 - - - - 640,85250
02/15/2016 565,000.00 4.000% 42,47625 607,476.25 -
08/15/2016 - - 31,17625 31,176.25 -
09/30/2016 - - - - 638,65250
02/15/2017 595,000.00 4.000% 31,17625 626,176.25 -
08/15/2017 - - 19,27625 19,276.25 -
09/30/2017 - - - - 645,45250
02/15/2018 385,000.00 4.100% 19,27625 404,276.25 -
08/15/2018 - - 11,383.75 11,383.75 -
09/30/2018 - 415,66000
02/15/2019 395,000.00 4.150% 11,383.75 406,383.75 -
08/15/2019 - - 3,187.50 3,187.50 -
09/30/2019 - - - - 409,57125
02/15/2020 150,000.00 4.250% 3,18750 153,187.50 -
09/30/2020 - - - - 153,18750
Total $4,890,000.00 - $1,489,007.29 $6,379,007.29 -
Pricing Files-2007 I GO Refunding I 3/19/2007 1 3:47 PM
First Southwest Company
Public Finance Department Page 3
Preliminary
$4,890,000
City of Wylie, Texas
General Obligation Refunding Bonds
Series 2007
Debt Service Schedule Part 2 of 2
Yield Statistics
Accrued Interest from 03/15/2007 to05/01/2007 25,166.15
Bond Year Dollars $36,197.67
Average Life 7.402 Years
Average Coon 4.1135450%
Net Interest Cost(NIC.) 4.1162596%
True Interest Cost(TIC) 4.0447966%
Bond Yield for Arbitrage Puip ses 4.2173789%
All Inclusive Cost(AIC) 4.3527543%
IRS Form 8038
Net Interest Cost 3.9215366%
---------------
Weighted Average Maturity 7.393 Years
Pricing Files-2007 I GO Refunding I 3/19/2007 1 3:47 PM
First Southwest Company
Public Finance Department Page 4
Preliminary
$4,890,000
City of Wylie,Texas
General Obligation Refunding Bonds
Series 2007
Summary Of Bonds Refunded
of Maturity
Issue Maturity Type Bond Coupon Value Call Date Call Price
Dated 8/15/1998 I Delivered 8/15/1998
gobds97 02/15/2008 Serial Coupon 5.050% 135,000 06/01/2007 100.000%
gobds97 02/15/2009 Serial Coupon 5.125% 145,000 06/01/2007 100.000%
gobds97 02/15/2010 Serial Coupon 5.125% 150,000 06/01/2007 100.000%
gobds97 02/15/2011 Serial Coupon 5.250% 160,000 06/01/2007 100.000%
pbds97 02/15/2012 Serial Cc. on 5.250% 170,000 06/01/2007 100.000%
gobds97 02/15/2013 Serial Coupon 5.250% 180,000 06/01/2007 100.000%
gobds97 02/15/2014 Serial Coupon 5.250% 195,000 06/01/2007 100.000%
gobds97 02/15/2015 Serial Coupon 5.375% 205,000 06/01/2007 100.000%
gobds97 02/15/2016 Serial Coupon 5.375% 220,000 06/01/2007 100.000%
gobds97 02/15/2017 Serial Coupon 5.375% 230,000 06/01/2007 100.000%
Subtotal - - $1,790,000 - -
Dated 8/15/1998 I Delivered 8/15/1998
gobds99 02/15/2011 Serial Coupon 5.100% 165,000 02/15/2009 100.000%
gobds99 02/15/2012 Serial Coupon 5.125% 175,000 02/15/2009 100.000%
gobds99 02/15/2013 Serial Coupon 5.200% 185,000 02/15/2009 100.000%
igobds99 02/15/2014 Serial Coupon 5.250% 195,000 02/15/2009 100.000%
gobds99 02/15/2015 Serial Coupon 5.250% 205,000 02/15/2009 100.000%
gobds99 02/15/2016 Serial Coupon 5.250% 215,000 02/15/2009 100.000%
gobds99 02/15/2017 Serial Coupon 5.250% 230,000 02/15/2009 100.000%
gobds99 02/15/2018 Serial Coupon 5.250% 245,000 02/15/2009 100.000%
gobds99 02/15/2019 Serial Coupon 5.250% 255,000 02/15/2009 100.000%
Subtotal - - $1,870,000 - -
Dated 8/15/2000 I Delivered 9/26/2000
GO Bonds Series 2000 02/15/2013 Serial Coupon 5.100% 110,000 02/15/2010 100.000%
GO Bonds Series 2000 02/15/2014 Serial Coupon 5.200% 115,000 02/15/2010 100.000%
GO Bonds Series 2000 02/15/2015 Serial Coupon 5.300% 125,000 02/15/2010 100.000%
GO Bonds Series 2000 02/15/2016 Serial Coupon 5.300% 130,000 02/15/2010 100.000%
GO Bonds Series 2000 02/15/2017 Serial Coupon 5.400% 140,000 02/15/2010 100.000%
GO Bonds Series 2000 02/15/2018 Serial Coupon 5.500% 145,000 02/15/2010 100.000%
GO Bonds Series 2000 02/15/2019 Term 1 Coupon 5.500% 155,000 02/15/2010 100.000%
GO Bonds Series 2000 02/15/2020 Term 1 Coupon 5.500% 165,000 02/15/2010 100.000%
Subtotal - - $1,085,000 - -
Total - - $4,745,000 - -
Pricing Files-2007 I GO Refunding I 3/19/2007 I 3:47PM
First Southwest Company
Public Finance Department Page 5
Wylie City Council
CITY OF WYLIE AGENDA REPORT
Meeting Date: March 27, 2007 Item Number: 5
Department: WEDC (City Secretary's Use Only)
Prepared By: Sam Satterwhite Account Code:
Date Prepared: March 13, 2007 Budgeted Amount:
Exhibits: 2
Subject
Consider, and act upon, acceptance of the resignation of Gary Bartow and appoint a new Board Member to the
Wylie Economic Development Corporation to fill the unexpired term of July 2006 to June 30, 2009.
Recommendation
Motion to accept the resignation of Gary Bartow and appoint to the Wylie Economic Development
Corporation Board of Directors to fill the unexpired term of July 2006 to June 30, 2009.
Discussion
As per section 4.01 Board of Directors of the First Amended Bylaws of the Wylie Economic Development
Corporation, the business and affairs of the Corporation and all corporate powers shall be exercised by or under
the authority of the Board of Directors, appointed by the governing body of the City of Wylie. Section 4.02
Number and Qualifications requires that each Director shall meet at least one (1) of the following:
(a) serve, or have served, as Chief Executive Officer or a company; or
(b) serve, or have served, in a position of executive management of a company; or
(c) serve, or have served, in a professional capacity.
In addition to the above qualifications:
(1) each Director must have lived in the City limits or operated a business in the City limits for a minimum
of one(1) year; and
(2) each Director must live in the City limits during the tenure in office.
Mr. Gary Bartow was appointed to a three (3) year term on the Wylie Economic Development Corporation in
July 2006 with the term ending June 30, 2009. Mr. Bartow is moving out of the city limits and has resigned
from the Board effective March 19, 2007.
Being that there are several sensitive projects being considered by the WEDC, the Board would prefer to not
face issues surrounding a split vote or lack of a quorum. Therefore, the Board respectfully requests that the
Wylie City Council consider nominating a qualified individual to the WEDC Board of Directors at this time.
Those that have completed board applications for consideration of appointment on the WEDC Board have been
contacted and are willing to serve.
Approved By
Initial Date
Department Director 3/13/07
City Manager V f l 3 13 (07
Page 1 of 1
Wylie Economic Development
CORPORATION
March 12, 2007
Mayor John Mondy
City of Wylie
2000 Highway 78 North
Wylie, Texas 75098
Dear Mayor:
Effective March 19, 2007, Gary Bartow is resigning his position on the Board of
Directors of the Wylie Economic Development Corporation (WEDC). While I am aware
that the Wylie City Council will soon begin the process of interviewing citizens for
placement on various Board and Commissions and swear-in those citizens in July, I am
requesting special consideration to be made to expedite the nomination of a new Board
member for the WEDC.
Being that there are several sensitive projects currently being considered by the WEDC, I
would prefer to not face issues surrounding a split vote or lack of a quorum. Therefore, I
respectfully request that the Wylie City Council consider nominating a qualified
individual to the WEDC Board of Directors at your March 27th or April 10th Council
Meeting.
Thank you for your consideration of this matter. If you have questions or comments,
please contact me 214/908-5515.
Regards,
/3-frutitt.„.
Marvin Fuller
President
cc: Mindy Manson, City Manager
108C W. Marble • Wylie, Texas 75098
Office: (972)442-7901 •Fax(972)429-0139
Serving The City of Wylie • Wylie Independent School District • Wylie Chamber of Commerce
Wylie Economic Development
CORPORATION
March 6, 2007
Mr. Marvin Fuller
President
Wylie Economic Development Corporation
108-C West Marble
Wylie, Texas 75098
Dear Marvin:
It is with great regret that I must resign my position as Board Member of the Wylie
Economic Development Corporation effective March 19, 2007. Due to personal
circumstances and a new employment opportunity, I will be relocating to Michigan in the
next several weeks.
I am extremely proud of what we have accomplished as a team over the last three years and
hope that I played a small role in that success. I am confident that with the Board's initiative
and continued support of the City Council, the WEDC will reach new heights in its effort to
bring new investment to Wylie.
It has been a pleasure to serve with the WEDC Board of Directors as well as staff and wish
you all the best in the future.
Sincerely,
Gary Bartow
cc: Mitch Herzog
John Yeager
Merrill Young
John Mandy
Mindy Manson
108C W. Marble•Wylie,Texas 75098 Office: (972)442-7901 •Fax(972)429-0139
Serving The City of Wylie•Wylie Independent School District• Wylie Chamber of Commerce
Board & Commission Application
Spring 2006
Please return your completed application to the City Secretary's Office at 2000 Highway 78 North,Wylie,Texas 75098.
Name: ( Ai5 S-e/
Please indicate your first, second and third preference below.
Construction Code Board Planning&Zoning Board
Library Board / Wylie Economic Development Corporation Board
Parks&Recreation Board Zoning Board of Adjustments
Animal Shelter Advisory Board Public Arts Advisory Board
Yes, I would be interested in serving on subcommittees that may be formed.
Personal Information Occupational Information
Home Address: /1-//5-00411, AA s Oct LIE Business Owner? ❑Yes J No
Telephone 51,7.6656 /_Fax: ��7 a)Z -Cs 9.? Business Name: Adams cX9 inee
eh rrrec�
E-mail: ri 5 �@ a,Ams-Enj r`aeeri't5.� Occupation: 1 V!1 ENC i k, •1
I have been a Wylie Resident for ,>� years Business Address: 705 Id,AVM. &£ Aa7 wed/0
Registered voter? , Yes ❑No Telephone: q7Z•ZOS•OSoc Fax: f7Z•zo 5-'0 5-So
Have you ever or do you currently serve on any city boards? tiYes ❑ No
If so, what board/city and dates? 174 q H� vises►- C.emi f/ec-
Are you involved in any community activities? (Civic or Hobbies) No
❑ No
Fig-6/Svwsr Cthitc i AArvn? S
Please indicate briefly why you would like to be appointed to a Board or Commission:
ffiqv .uvb0 iv 17t a�� ,414,f , S"yearS A,up /M ,ZUgt Try at it
Gll/ie e- fi5 i& '. r Gdaer iv 4t) /,Ql /(T THAT is D/2 y ge/_A- > T 7
OAK of Tr4 DG ANo C4.v BF A E rr Ass--r ,tom '( n btgcricr-) T , DEu iAeLes A,Jz
I am aware of the meeting dates and times of the board/commission I have applied and if appointed,I agree to
serve on the Board/Commission which I have applied,or would consider an alternate appointment to a second or
third service preference.
3 90
Signatu Date
FOR OFFICE USE ONLY
Date Application Received New Applicant?❑Yes❑No If no,applicant previously served on
Board
Via: ❑website Omail Din person❑referral❑newspaper Attended Applicant's Reception?❑Yes❑No (dates)
Applicant Interview Scheduled: Appointment made to Term Expires
❑Statement&Oath Completed ONo appointment made at this time,retain application for one year.
J Sly SPir)r) -he v=
L
.
Gayle Walton
From: Eric LeJeune [eric_lejeune@comcast.net]
Sent: Sunday, July 16, 2006 9:04 PM r�
To: City of Wylie
Subject: Board Volunteer
Form Information Follows:
NAME - Eric LeJeune
DATE OF APPLICATION - 7-16-06
FIRST_CHOICE - Public Arts Advisory Board SECOND CHOICE - Library Board THIRD_CHOICE -
Wyle Economic Develoment Corp. Board SUBCOMMITTEE - Yes HOME_ADDRESS - 335 Crosscreek Dr
HOME PHONE - 469-733-3539 HOME FAX - HOME_EMAIL - eric_lejeune@comcast.net RESIDENT_YEARS
- 6 CONTACT_METHOD - Home Email REGISTERED_VOTER - Yes BUSINESS_OWNER - No BUSINESS_NAME -
OCCUPATION - BUSINESS_ADDRESS - BUSINESS_PHONE - BUSINESS_FAX - BUSINESS EMAIL -
WHY INTERESTED - I want to be more of a voice in my community. I have a 4 year old and I
want Wylie to be a great place to grow up. I am very well diversed from business
world(accounting and finance) to my new career-an elementary school teacher. I strongly
believe in the arts and library services and I want to do my part. I have held many
leadership roles and I am a great leader as well as a team player. My philosophy has
always been that two heads are better than one. Thank you for your time and consideration
for the Public Arts Advisory Board. Eric LeJeune Submit - Submit
End of form information
1
Gayle Walton /6,
From: Lymari Ames [scottlyri@verizon.net]
Sent: Tuesday, May 16, 2006 9:16 PM
To: City of Wylie
Subject: Board Volunteer
Form Information Follows:
NAME - Lymari Ames
DATE_OF APPLICATION - May 16, 2006
FIRST_CHOICE - Parks and Recreation Board SECOND_CHOICE - Wyle Economic Develoment Corp.
Board THIRD_CHOICE - Library Board SUBCOMMITTEE - Yes HOME_ADDRESS - 1900 Three Fountains
Dr.
HOME_PHONE - 972-442-0858
HOME_FAX -
HOME EMAIL - scottlyri@verizon.net
RESIDENT_YEARS - 8
CONTACT_METHOD - Home Phone
REGISTERED_VOTER - Yes
BUSINESS_OWNER - No
BUSINESS NAME -
OCCUPATION - Program Manager
BUSINESS_ADDRESS - 2240 Campbell Creek Boulevard Suite 110 BUSINESS PHONE - 972-852-4219
BUSINESS_FAX - BUSINESS_EMAIL - lames@naivini.com WHY_INTERESTED - Wylie' s small town
character has grown over the last couple of years. I have experienced this growth during
my 8 years living here. Throughout its growth, Wylie has maintained its charm through
quality residential living with a healthy business atmosphere. With the recent approval of
the bond package, Wylie has to opportunity to grow reserving what makes Wylie a great
place to live, its people and appealing communities. It is for these reasons, it would be
an honor to service on the Wylie Board.
Submit - Submit
End of form information
1
Gayle Walton
From: Robert A. Wieneke [bobw.tx@verizon.net] ATTACHED IS A LETTER AND
Sent: Tuesday, February 07, 2006 12:00 PM BIOGRAPHY FROM THE APPLICANT
To: City of Wylie
Subject: Board Volunteer
Form Information Follows:
NAME - Robert A. Wieneke
DATE_OF_APPLICATION - 07 FEB 2006
FIRST_CHOICE - Wyle Economic Develoment Corp. Board SECOND_CHOICE - Wyle Economic
Develoment Corp. Board THIRD_CHOICE - Wyle Economic Develoment Corp. Board SUBCOMMITTEE -
Yes HOME ADDRESS - 204 Douglas Drive HOME PHONE - 972-429-0020 HOME_FAX - HOME EMAIL -
bobw.tx@verizon.net RESIDENT_YEARS - 10 CONTACT_METHOD - Home Phone REGISTERED__VOTER - Yes
BUSINESS_OWNER - No BUSINESS NAME - OCCUPATION Semi-retired and currently teaching (sub)
in Wylie ISD BUSINESS ADDRESS - BUSINESS_PHONE - 214-236-4922 BUSINESS_FAX -
BUSINESS EMAIL - WHY_INTERESTED - I have more than 30 years of business experience in
high-tech, retail, small business, corporate and non-profit sectors; the most recent 20
years of that in the DFW Metroplex.
Most of my career has focused on business development, but I 've also been involved in a
few economic development projects as well.
My background, contacts, and desire to serve my community should translate to solid
performance as a member of the WEDC, and results for our city. I look forward to
interviewing, and to this opportunity to serve the Wylie Economic Development Commission.
Submit - Submit
End of form information
1
Please attach this letter and biography to my application for Boards and Commissions, filed
recently via the city's website, specifically for the Wylie EDC.
March 1, 2006
TO: The members of the Wylie City Council,the board selection committee, EDC Executive
Director Sam Satterwhite, and others who may have an interest in these proceedings:
RE: Wylie Economic Development Commission, Application for Service
I am pleased to present this letter, biography and application for appointment to the Wylie
Economic Development Commission. Having lived in this city since 1995, I've watched,
with pleasure,the accomplishments and well-planned growth fostered by your leadership. Now,
I'd like to offer my services to support your continued efforts.
My background is varied, as you will see in the attached biography, and I believe that could be a
benefit to this organization. I have worked in, or helped build businesses in, a wide variety of
geographic locations and in segments from retail to wholesale/distribution, from equipment
manufacturing to the services industry, and from high-techs to non-profits. Such experience
provides a unique perspective on business, and the process of attracting and growing companies.
I have a strong background in marketing, public relations & sales that may be useful to you in
the attraction phase, and a bent for creative solutions that bring people together and business
deals to mutually satisfactory conclusions. Plus, 20 years living and working in the DFW
Metroplex and another 15 in cities across the nation,translate to a fair number of contacts that
might be useful in the quest to expand our business base.
I look forward to discussing my service with you, at your convenience, and would be happy to
provide a full resume, references, or other materials for your consideration. Thank you for this
opportunity!
Sin rely, `'
tom` � _
Robert A. Wieneke
204 Douglas Drive
Wylie, Texas 75098
H./O. : 972-429-0020
Cell : 214-236.4922
Email: bobw.tx@verizon.net
Robert Wieneke
Robert Wieneke is currently a substitute teacher in the Wylie ISD,managing an investment portfolio and
helping a friend with a new business venture. Prior to 2005, as president of the Rockwall County Chamber
of Commerce, he was responsible for all operations plus community&government affairs. He also led a
major renovation of the Chamber's services and benefits, prompting double-digit growth, and tackled several
projects supporting the attraction, growth and success of Rockwall County businesses.
Prior to that,Bob was Vice President of Corporate Relations for Clearwire, a company using proprietary
wireless technology,originally developed for the military,to deliver Broadband Internet service in areas
where DSL and cable were unavailable. The company received $100 million in Wall Street funding to install
systems across the U.S.,but the high-tech/telecom `meltdown' of 2001 brought those plans to a halt.
(Remnants of the company were purchased in May 2004 by media mogul Craig McCaw.)
Before Clearwire, Bob served seven years as development director of the Texas Council of the American
Electronics Association,the nation's largest trade group for the high-tech industry. He previously held a
marketing management position with American Airlines and served as Senior Vice President for Community
Credit Union,with responsibility for marketing, IT,and human resources. Bob also held sales,marketing and
product-management positions with Control Data Corp., a Fortune 100 computer manufacturer and data
services provider. While there,he helped create and introduce two new IT systems, and was twice recognized
as a"top 1 percent"performer among the company's 55,000 employees worldwide.
Bob holds a degree in Journalism&Public Relations from the University of North Dakota,with a minor in
German,plus a postgraduate minor in Russian from Syracuse University a certificate in Human Resources
Management from Notre Dame. He served overseas as a linguist with the U.S. Air Force, and continues his
service today as a Mission Pilot for Civil Air Patrol (CAP),the USAF Auxiliary. CAP performs search&
rescue and disaster relief missions, and sponsors a Cadet Program for youth(12-21) to teach life
skills and leadership. He was the commander of the Lakeshore Squadron from 1998-2004,during which
four of his cadets were chosen for the prestigious International Air Cadet Exchange(LACE)and one received
an appointment to the U.S.Naval Academy; both were `firsts' for the group.
Bob and his wife,Margot,have lived in Wylie,Texas since 1995. She is a branch manager for Community
Credit Union(now Viewpoint Bank),where she has served for 20 years.
Ga le Walton
•From: y Lee Han [jlhanks2OO5@verizon. et]
Sent: Monday, May 01, 2006 11:31 AfV]
To: City of Wylie :04
Subject: Board Volunteer '��II Yb
Form Information Follows:
NAME - Jimmy Lee Hanks
DATE OF APPLICATION - May 1, 2005
FIRST_CHOICE - Wyle Economic Develoment Corp. Board SECOND CHOICE - Planning and Zoning
Commission THIRD CHOICE - Construction Code Board SUBCOMMITTEE - Yes HOME ADDRESS - 902
Carlton Road HOME_PHONE - 972-429-5877 HOME_FAX - HOME_EMAIL - jlhanks2005@verizon.net
RESIDENT_YEARS - 2 CONTACT METHOD - Home Phone REGISTERED_VOTER - Yes BUSINESS_OWNER - Yes
BUSINESS NAME - Advocare OCCUPATION - Self employeed/student BUSINESS_ADDRESS 902
R CarltonRoad BUSINESS PHONE - 972-571-7714 BUSINESS_FAX - BUSINESS_EMAIL - jlhanks2005
@verizon.net WHY INTERESTED - I want to see Wylie grow in a postive way. I want to see our
tax dollars spent on the right things and I want to help make the WEDC what is was meant
to be.
Submit - Submit
End of form information
1
..„
„TB
oard & Commission Application
Spring 2006 (41
Please return your completed application to the City Secretary's Office at 2000 Highway 78 North,Wylie,Texas 75098.
Name: '.3-0+M-eS R‘ l. ,, Q A
Please indicate your first, second and third preference below.
Construction Code Board lanning&Zoning Board G b
Library Board / Wylie Economic Development Corporation Board 1
Parks&Recreation Board Zoning Board of Adjustments 1
Animal Shelter Advisory Board Public Arts Advisory Board
pYes, I would be interested in serving on subcommittees that may be formed.
Personal Information Occupational Information
Home Address: 3()/ Wa tz,v(,,, S 2 Business Owner? ❑Yes No
Telephone: A tt 1—ri Fax: Business Name:
E-mail: )cr ,0"u., /9ye E Yam` O' Gt14 Occupation:
/I have been a Wylie Resident for , C years Business Address:
Registered voter? BYes ❑No Telephone: Fax:
Have you ever or do you currently serve on any city boards? 0 Yes ❑ No
C
If so, what board/city and dates? I IA?,py.,,;,,' , ocrn-;: ) I c cow,wt�4.c'(i wc)
0
Are you involved in any community activities? (Civic or Hobbies) 0 Yes ❑ No
CkoLA,4tPtv oc CU leetA lekt e / C v" tot,vlA;,A ti A�4uLs:..sk.
Please indicate jbriefly why you would like to be appointed to a Board or Commission:
r W ou(1 t ((lie_
lie.. c lo`a -N-Vw1'1 k c.C u-e, tO 4 c-{2... -o t t C: \nn v ,aan1. 4
I am aware of the meeting dates and times of the board/commission I have applied and if appointed,I agree to
serve on the Board/Commission which I have applied, would cons' er an alt mate appointment to a second or
third service preference.
gnature Date
FOR OFFICE USE ONLY
Date Application Received New Applicant?❑Yes❑No If no,applicant previously served on
Board
Via:❑website❑mail Din person❑referral❑newspaper Attended Applicant's Reception?❑Yes❑No (dates)
Applicant Interview Scheduled: Appointment made to Term Expires
❑Statement&Oath Completed ❑No appointment made at this time,retain application for one year.
WORK SESSION
ATTACHMENT