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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