HomeMy WebLinkAboutCertificates of Obligation Series 2011 TOWN OF WESTLAKE,TEXAS
CERTIFICATES OF OBLIGATION
SERIES 2011
Sample Schedule of Events
Council Meeting Dates Highlighted
Alternative 1 Alternative 2
Action Date Date
Conference Call with Bond Counsel to Discuss Notice 01/18/11 02/22/11
Approve Publication of Notice of Intent to Issue CO's 011241II 0212811.1
First Publication of Notice of Intent to Issue CO's ') 01128/11 03/04/11
Apply for Credit Rating (if necessary) 02/01/11 03/08/11
Second Publication of Notice of Intent to Issue CO's 02/04/11 03/11/11
CO Pricing/Interest Rates Established Week of 2121 Week of 4118
Sale of CO's Approved by Town Council 02128111 04/25//1
Bond Counsel Submits Transcript to AG for Review 03/04/11 04/28/11
Closing Memorandum Distributed to Working Group 03/07111 05/02/11
Attorney General Approval of COs 03/28/11 05/23/11
Closing 03/29/11 05/24/11
(1)At least 31 days before sale.
Lawrence Financial Consulting LLC 12/13/2010
TOWN OF WESTLAKE,TEXAS
I&S Tax Rate Analysis
$2.12 Million CO in 2011 and$1.66 Million CO in 2013
Gas Wells Excluded from TAV
FYE Existing Estimated All Debt Less: Est.I&S
9/30 TAV"' Debt 1a) 2011113 CO''' Combined Sales Tax Tax Rate(4)
2011 653,548,318 1,501,778 38,588 1,540,365 (1,501,778) 0.0039
2012 752,517,049 1,498,450 156,835 1,655,285 (1,498,450) 0.0213
2013 785,987,770 1,498,528 155,955 1,654,483 (1,498,528) 0.0202
2014 801,707,525 1,496,906 281,271 1,778,177 (1,496,906) 0.0358
2015 817,741,676 1,498,442 283,640 1,782,082 (1,498,442) 0.0354
2016 834,096,509 1,497,864 280,880 1,778,744 (1,497,864) 0.0344
2017 850,778,439 1,500,197 277,670 1,777,867 (1,500,197) 0.0333
2018 867,794,008 1,505,089 283,883 1,788,971 (1,505,089) 0.0334
2019 885,149,888 1,501,257 279,503 1,780,760 (1,501,257) 0.0322
2020 991,657,599 1,499,870 279,556 1,779,426 (1,499,870) 0.0288
2021 1,011,490,751 1,501,461 283,914 1,785,375 (1,501,461) 0.0286
2022 1,210,984,451 1,500,744 282,593 1,783,337 (1,500,744) 0.0238
2023 1,258,060,286 1,497,719 280,718 1,778,436 (1,497,719) 0.0228
2024 1,283,221,491 1,502,385 278,335 1,780,720 (1,502,385) 0.0221
2025 1,308,885,921 1,498,530 280,340 1,778,870 (1,498,530) 0.0219
2026 1,335,063,639 1,492,154 281,630 1,773,784 (1,492,154) 0.0215
2027 1,361,764,912 1,499,082 277,314 1,776,395 (1,499,082) 0.0208
2028 1,389,000,210 1,503,668 277,399 1,781,066 (1,503,668) 0.0204
2029 1,416,780,215 1,319,945 281,663 1,601,608 (1,319,945) 0.0203
2030 1,445,115,819 1,316,095 280,141 1,596,236 (1,316,095) 0.0198
2031 1,474,018,135 1,320,060 282,810 1,602,870 (1,320,060) 0.0196
2032 1,503,498,498 1,316,160 123,640 1,439,800 (1,316,160) 0.0084
2033 1,533,568,468 - 122,940 122,940 - 0.0082
Totals 32.266.379 R 5.651,215 37917.594 s(3222663791
(1) Includes Town estimates through 2024-25 fiscal year (excluding gas wells) and 2%annual growth thereafter.
f2) Includes the Issuer's 2002,2003,2007 and 2008 Bonds and CO's.
(3) Based on average assumed interest rate of 4.20 51c;subject to change.
(4) Assumes a 98%tax collection ratio.
Lawrence Financial Consulting LLC 1211312010