Page 157 - 2019 Budget Detail.xlsx

WATER-WASTEWATER FUNDS

The Water-Wastewater fund is divided into (1) operating fund, (3) debt service funds
and (1) construction fund:

Water and Wastewater Operating Fund (002) – is used to account for the general
operations of the fund. The general operations of this fund are divided into (4)
departments: administrative (62), non-departmental (30), water production and
distribution (66) and wastewater (67).

Water-Wastewater Debt Service Funds – These funds were established to separately
account and pay for debt obligations incurred by the Enterprise Fund in the name of the
City. Expenses include payment of principal, interest and agent fees. There are no
other operating expenditures included in these funds. Debt Service payments are
funded through operating transfers from the Water and Wastewater Operating fund.

- General Obligation Refunding Bond, Series 2017 (071)
The bonds were issued for the purpose of refunding portions of the outstanding
Combination Tax and Water and Sewer Revenue Certificates of Obligation,
Series 2007 and Public Property Finance Contractual Obligations, Series 2007.
The bonds dated October 27, 2017, with interest rate of 1.84% mature in 2027.

- Combination Tax and Water and Sewer Revenue Refunding Bonds, Series
2011 (092)
This bond series dated November 1, 2011 were issued to refinance a portion of
the City’s outstanding obligations of 2002 and 1998, for interest debt service
savings. Interest rates range from 2% to 3% and obligations mature serially
though 2022.

- Combination Tax and Water and Sewer System Revenue Certificates of
Obligation, Series 2013 (095)
This bond series dated June 15, 2013 were issued for acquiring, constructing,
installing and equipping improvements to the City’s water, wastewater,
stormwater and drainage system, and the acquisition of land and interest in land
as necessary thereof. Interest rate range from 3% to 4.5% and obligations
mature serially through 2033. The Drainage Utility Fund supports 50% of the debt
service payments by means of transfer to the Water-Wastewater operating fund.

Water-Wastewater Improvement Project Fund (088) – This fund is used to account
for major water-wastewater construction/improvement projects. These projects are
mainly funded through operating transfers from the Water-Wastewater operating fund.

145