Page 294 - City of Fort Worth Budget Book

Fiduciary Funds Walsh Ranch Trust

On June 11, 2024, the City approved and sold Special Assessment Revenue Bonds, Series 2024 on behalf of
Walsh Ranch/Quail Valley PID for the purpose of funding actual costs of funded improvements within
Improvement Areas 1-3 of the District. The Bonds constitute valid and binding special, limited obligations of the
City payable solely from and secured by a first lien on, security interest in and pledge of the Trust Estate,
consisting primarily of special assessments levied against assessable property in Improvement Areas #1-3 of the
District. The Bonds are not payable from funds raised or to be raised from taxation.

The City expects to issue one or more series of future bonds to finance the cost of Future Improvement Area
Authorized Improvements within the Future Improvement Areas, including Improvement Area #4, as the
development proceeds. The estimated costs of the Future Improvement Area Authorized Improvements will be
determined as the Future Improvement Areas are developed, and the Service and Assessment Plan will be
updated to identify the improvements authorized by the PID Act to be financed by each new series of Future
Improvement Area Bonds. Future Improvement Area Bonds to finance Future Improvement Area Authorized
Improvements will be secured by separate assessments (the “Future Improvement Area Assessments”) levied
pursuant to the PID Act on assessable property within the Future Improvement Areas of the District that benefit
from the Future Improvement Area Authorized Improvements being financed.

The Walsh Ranch/Quail Valley debt is presented in the Walsh Ranch Trust Fund.
The following chart provides the principal and interest for debt that has a payment due in FY2025.

Total Debt
FY2025 Principal Interest Service
2024 Special Assessment Rev 500,000 1,000,000 1,500,000
$ 500,000 $ 1,000,000 $ 1,500,000

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