Page 127 - 2019 Budget Detail.xlsx

CITY OF RICHLAND HILLS, TEXAS
FISCAL YEAR 2018-2019

Special Revenue Funds include:

Municipal Court Building Security Fund (024) is used to account for the City’s share
of fines to be used to enhance building security for both the court room and the court
office. This type of fund was created by the State Legislature to fund the security and
protection of the municipal court. Revenue sources come from a portion of the fees
collected on every infraction adjudicated by the City.

The Richland Hills Economic Development Corporation Fund (026) is used for the
promotion of infrastructure improvements, parks, park facilities and economic
development within the City in order to encourage growth and the public welfare of, for
and on behalf of the City. Revenue source is .125% (1/8 ¢) sales and use tax approved
by voters.

In 2016, the City issued Combination Tax and Waterworks and Sewer System
Revenue Certificates of Obligation, Series 2016 in the amount of $4,705,000 for the
purchasing, construction and acquisition of real and personal property for capital
improvements and parks, to fund: (1) a recreation and community activity center
surrounding green/park space, including additions, extensions, renovations and
improvements to the City’s waterworks and sewer system, and related site preparation
and improvement, drainage, utility infrastructure, landscaping, lighting, signage and the
acquisition of land; and (2) for the purposes of paying all or a portion of the City’s
contractual obligations for professional services related to the project.

The interest rate on the bonds range from 2% to 4% and mature in 2036; 69% of the
annual debt service payment, principal and interest, is supported by sales tax revenue
from the Richland Hills Economic Development Corporation and 31% is supported from
hotel occupancy tax revenue. The respective debt service schedule is attached after
the budgetary detail schedule of each fund.

Municipal Court Technology Fund (039) was created by the State Legislature to fund
improvements in Technology in the municipal court system. Revenue sources for this
fund are derived from fees assessed, as provided by law, per conviction in the City of
Richland Hills Court of Record.

115