Bond Issue 2017
The City of League City is proposing to fund projects identified in the 2017 to 2020 Capital Improvements Plan through Certificates of Obligation.
TIRZ No. 4 is also proposing to borrow $4.5 million to fund payments to fund payments for costs related to the extension of League City Parkway and Maple Leaf Drive in conjunction with the Westwood development.
The recommendation for Certificates of Obligation provides the lowest issuance cost by combining tax and revenue supported projects into one issue. Authorization to secure a Certificate of Obligation will also provide League City with the lowest interest rate and require no separate reserve fund.
'Tax supported' projects
- Ervin Connector ($1.13 million)
- Project will construct Ervin Street from Calder Road to the new Hobbs Road extension (approximately 1,850 feet)
- FY2017 phase is right-of-way
- Estimated total project cost is $6.8 million. Funding for the project includes $0.78 million cash on-hand and $1.138 million debt issue funding.
- New Animal Shelter ($0.65 million)
- Design of a new animal shelter to replace the current shelter building.
- Estimated total project cost is $7.54 million.
- Fire/EMS Station 6 ($0.49 million)
- Design for a new fire station in the southeast portion of the city.
- Estimated total project cost for a facility to support 24-hour operations and include living quarters for four firefighters and two paramedics/EMTs, three bays and a pumper is $5.13 million.
- Downtown Revitalization ($2.66 million)
- Utility relocation's and League Park Improvements.
- Estimated total project costs is $11.45 million.
'Revenue Supported' Projects
- West Side Well, Booster Pump Station and Waterline ($1.3 million)
- Design of a new west side well and booster pump station (location to be determined)
- Project consists 1500 GPM well; pump building; miscellaneous piping, pumps, electrical and controls; chemical feed system; 0.5MG ground storage tank; SCADA; and generator.
- Estimated total project cost is $3.9 million.
- Southeast Service Area Water Trunks ($1.88 million)
- Construction will complete sections three and five of the project.
- Estimated total project cost is $2.7 million. Funding for project includes $1.88 million in bonds and $830,000 in CRF funds.
- North Service Area 16' WL Grissom ($0.14 million)
- Design of project
- Construction will be programmed in FY2019
- Estimated total project cost is $742,700.
- Sanitary Sewer Annual Rehabilitation ($0.39 million)
- Project consists of a conditions survey of the major trunk sewer lines along Hobbs Road and Butler Road Lift Station (Newport Interceptor) and along FM 646 in Bay Colony
- Annual Lift Station Improvements ($0.29 million)
- Design and construction of Smith Lane Lift Station.
- Countryside Number 1 Lift Station Improvements ($0.29 million)
- Consists of replacing pumps, controls and discharge piping at Countryside Number 1 Lift Station.
- Dallas Salmon Effluent Discharge Improvements ($4.04 million)
- Structural modifications to the existing effluent discharge structure and the installation of approximately 1,500 foot of 84-inch concrete conduit from DSWWTP discharge structure, following the perimeter of the fire training facility, continuing northwest along Kansas Street to the banks of Clear Creek
- Estimated total project cost is $4.5 million.
The Certificates of Obligation for capital improvement projects would total $13.47 million, if approved. This includes $4.93 million for tax supported projects, $8.33 million for revenue supported projects and $0.21 million for the cost of issuance.
TIRZ Number 4 funding through the Certificates of Obligation would total $4.5 million, if approved.
Public hearings are set for April 25, 2017 and June 13, 2017 at 6 p.m. in City Council Chambers.
A public notice will also be posted in the Galveston County Daily News on May 3 and May 10, 2017.