Page 167 - Fort Worth City Budget 2019

Debt Service Fund

Rock Creek PID Debt Service

FUND SUMMARY

FY2017 FY2018 FY2018 FY2019 Change from Adopted
Final Adopted Adjusted Adopted Amount %
Transfer In 3,049,267 - 1,200,646 - - 0.00%
Use of Fund Balance - - 617,299 947,978 947,978 0.00%
Revenue $ 3,049,267 $ - $ 1,817,945 $ 947,978 $ 947,978 0.00%

Debt Service Accts - - 617,299 947,978 947,978 0.00%
Transfer Out & Other - - 1,200,646 - - 0.00%
Expenses $ - $ - $ 1,817,945 $ 947,978 $ 947,978 0.00%

FUND PURPOSE AND GOALS

Rock Creek Ranch PID continues with development on 1,755-acres located in southwest Fort Worth off the
Chisholm Trail Parkway. The development will include commercial, mixed use and residential, as well as a new
80-acre campus for Tarleton State University. The campus is anticipated to open in January 2019 and is expected
to have 2,500 students. The Rock Creek PID Debt Service Fund was created to pay for debt issued to finance the
improvements related to the development. The debt takes the form of special assessment revenue bonds which
are secured by pledged revenue of annual installments levied against the property within the PID. The debts are
special and limited obligations of the city, and shall never be payable out of funds raised or to be raised by taxation
or from any other revenues, properties or income of the city. The city is acting as the property owner's agent
within the district in collecting future assessments, forwarding collections to trustees, approving bond proceed
disbursements, and initiating any future foreclosures.

The following chart provides the principal and interest for each debt issuance that has a payment due in FY2019.
Handling charges are included separately from principal and interest depicted in the chart.

FY2019 Principal Interest Total
$ - $ 947,578 $ 947,578
Series 2017 Spec Assess Rev - 640,425 640,425
Series 2018 Spec Assess Rev - 307,153 307,153

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