HomeMy WebLinkAboutRES.1493.08-16-1999At
BILL NO. / 9 "/ 9?
RESOLUTION NO. 41 73
A RESOLUTION APPROVING A DEBT STATEMENT FOR THE
CITY OF CAPE GIRARDEAU, MISSOURI.
WHEREAS, Section 6.14 of the Charter of the City of Cape Girardeau, Missouri, requires the
preparation of a debt statement prior to the adoption of an ordinance calling an election at which the
question of incurring any "indebtedness" is submitted to the voters; and
WHEREAS, although the term "indebtedness" means general obligation bonds under Missouri
law, the City Council nevertheless deems it desirable to prepare and publish in accordance with the
requirements of Section 6.14 of the Charter a debt statement prior to the holding of an election providing
for the issuance of any bonds, notes or other obligations of the City; and
WHEREAS, the City Manager has prepared, sworn to and filed for public inspection in the office
of the City Clerk, detailed information pertaining to all outstanding obligations of the City and such other
information that is set out in Section 6.14 of the City Charter;
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF CAPE
GIRARDEAU, MISSOURI, AS FOLLOWS:
Section 1. The City Council approves the Debt Statement dated August 16, 1999, attached hereto.
Section 2. The City Clerk is hereby authorized and directed to forward to the County Clerk of
Cape Girardeau County, Missouri, a copy of the Debt Statement, in order to provide for the publication of
the Debt Statement with the Notice of Bond Election relating to the proposed authorization of $8,000,000
principal amount of sewerage system revenue bonds, as set out in Section 6.14 of the Charter.
Section 3. The officers of the City, including the Mayor and City Clerk, are hereby authorized and
directed to take such actions as they may deem necessary or advisable in order to carry out and perform the
purposes of this Resolution.
Section 4. This Resolution shall be in full force and effect from and after its passage and
approval.
PASSED by the City Council and APPROVED by the Mayor this day of August, 1999.
(SEAL)
Mayor
ATTEST:
City CIA
k
Summary of Outstanding Obligations
General Obligation Bonds
1993 GO Refunding Bonds
State Revolving Fund Bonds
1991A Sewer SRF Bonds
1993A Sewer SRF Bonds
1995D Sewer SRF Bonds
1996D Sewer SRF Bonds
1998B Water SRF Bonds
Revenue Bonds
1992 Waterworks System Revenue Bonds
1993 Sewer Refunding Bonds
1995 Waterworks Refunding Revenue Bonds
Leasehold Revenue Bonds
1993 CGPFA Bonds
Certificates of Participation
1993 Certificates of Participation
1994 Certificates of Participation
1997A Certificates of Participation
1997B Certificates of Participation
CITY OF CAPE GIRARDEAU
Debt Statement
August 16, 1999
Outstanding Debt
Average Principal Service
Coupon Balance Reserves
Net
Debt Authorized
Outstanding By
4.96%
2,395,000
535,000
1,860,000
Public Vote
3.93%
2,130,000
2,130,000
Public Vote
2.29%
414,000
414,000
Public Vote
2.91%
11,419,301
11,419,301
Public Vote
2.23%
13,535,000
13,535,000
Public Vote
3.72%
25,495,000
25,495,000
Public Vote
52,993,301
52,993,301
6.81%
2,780,000
2,780,000
Public Vote
5.28%
875,000
99,000
776,000
Public Vote
5.01%
8,710,000
1,115,000
7,595,000
Public Vote
12, 365, 000
1,214,000
11,151, 000
4.72%
5,425,000
1,765,500
3,659,500
Council Election
5.11%
2,685,000
379,500
2,305,500
Council Election
5.62%
2,790,000
353,000
2,437,000
Council Election
4.94%
2,205,000
280,000
1,925,000
Council Election
4.97%
615,000
76,500
538,500
Council Election
8,295,000
1,089,000
7,206,000
TOTAL CURRENT OUTSTANDING OBLIGATIONS $81,473,301 $4,603,500 $76,869,801
Proposed Obligations
Sewer System 8,000,000 8,000,000
TOTAL OUTSTANDING OBLIGATIONS AFTER ISSUANCE
OF PROPOSED OBLIGATIONS $89,473,301 $4,603,500 $84,869,801
Computation of Legal Debt Margin
Assessed Value $345,811,885
Legal Debt Margin:
Debt limitation - 20 percent of total assessed value $69,162,377
Debt applicable to limitation:
Total bonded debt 2,395,000
Less: Debt service available for repayment of general obligation bonds 535,000
Total debt applicable to limitation 1,860,000
Legal Debt Margin $67,302,377
The information contained in this debt statement is taken almost exclusively from the 1999-2000 Annual Budget for the City
of Cape Girardeau which was adopted by the City Council on June 21, 1999 by Ordinance No. 2540. All information contained
in that Annual Budget is incorporated herein by reference.
Summary of Annual Debt Service Payments by Band Issue
General
Obligation Bonds State Revolving Fund Bonds
2,767,098
RepaymentSources.
Hotel/Motel Tax
Restaurant Tax
Real Estate Tax
1991A 1993A 1995D 1996D 1996B
240,484 43,770 82,097 853,436 1,975,509
244,704 42,815 1,261,996 852,186 1,957,784
243,149 42,809 1,332,430 1,400,899 1,965,189
241,149 42,721 1,407,862 1,380,424 1,970,434
238,694 42,552 1,498,270 1,353,834 1,978,815
240,581 42,307 1,593,646 1,331,384 1,984,695
241,731 41,982 1,709,004 1,307,484 2,007,992
237,144 41,577 1,829,340 1,352,409 2,018,570
237,168 42,062 1,964,652 1,322,044 2,055,963
236,494 41,436 2,109,936 1,295,044 2,033,651
235,063 41,695 1,730,202 1,266,429 2,039,130
232,894 40,838 1,061,590 1.236,169 2,016,141
234,988 40,893 1,044,522 1,208,675 2,056,970
235,975 40,826 1,032,618 1,174,906 2,071,728
230,856 40,637 1,015,843 1,145,181 3,046,571
40,326 1,004,211 1,169,181 3,005,712
987,692 1,133,400 2,969,361
976,298 1,101,120 2,926,940
1,067,240 2,888,359
1,026,758
CITY OF CAPE GIRARDEAU
Debt Statement
August 16, 1999
Revenue Bonds
1993
06-30-00
463,488
06-30-01
461,805
06-30-02
463,555
06-30-03
458,875
0630-04
458,125
0630-05
461,250
0630-06
515,468
0630-07
574,968
0630-08
150,131
0630-09
512,678
0630-10
642,910
06-30-11
157,938
0630-12
514,258
06-30-13
1997A
0630-14
163,293
0630-15
1,260,020
06-30-16
401,260
06-30-17
110,270
06-30-18
1,286,520
0630-19
466,148
0630-20
351,262
2,767,098
RepaymentSources.
Hotel/Motel Tax
Restaurant Tax
Real Estate Tax
1991A 1993A 1995D 1996D 1996B
240,484 43,770 82,097 853,436 1,975,509
244,704 42,815 1,261,996 852,186 1,957,784
243,149 42,809 1,332,430 1,400,899 1,965,189
241,149 42,721 1,407,862 1,380,424 1,970,434
238,694 42,552 1,498,270 1,353,834 1,978,815
240,581 42,307 1,593,646 1,331,384 1,984,695
241,731 41,982 1,709,004 1,307,484 2,007,992
237,144 41,577 1,829,340 1,352,409 2,018,570
237,168 42,062 1,964,652 1,322,044 2,055,963
236,494 41,436 2,109,936 1,295,044 2,033,651
235,063 41,695 1,730,202 1,266,429 2,039,130
232,894 40,838 1,061,590 1.236,169 2,016,141
234,988 40,893 1,044,522 1,208,675 2,056,970
235,975 40,826 1,032,618 1,174,906 2,071,728
230,856 40,637 1,015,843 1,145,181 3,046,571
40,326 1,004,211 1,169,181 3,005,712
987,692 1,133,400 2,969,361
976,298 1,101,120 2,926,940
1,067,240 2,888,359
1,026,758
CITY OF CAPE GIRARDEAU
Debt Statement
August 16, 1999
Revenue Bonds
Certificates of Participation
1995
1993
1992
Water
Sewer
Water
Refunding
Refunding
511,048
513,908
145,431
542,168
515,468
150,631
574,968
516,728
150,131
609,043
512,678
149,238
642,910
513,628
157,938
671,563
514,258
155,783
1997A
1,219,508
163,293
Proposed Bonds
1,260,020
430,013
401,260
1,305,520
110,270
9,284,791
1,286,520
9,284,791
466,148
1,289,000
351,262
106,510
1,290,750
86,000
8,255,956
2,409,750
394,475
3,571,092 669,244 23,642,208 23,978,202 42,969,515 3,551,698 13,147,733 1,072,444
Sewer Fees Sewer Fees Sewer Fees Sewer Fees Water Fees Water Fees Water Fees Sewer Fees
SRF Subsidy SRF Subsidy SRF Subsidy SRF Subsidy SRF Subsidy
Capital imp. Capital imp. Capital imp.
Sales Tax Sales Tax Sales Tax
Leasehold
1993
3,161,485
823,225
806,500
473.200
218,250
504,000
5,986,660
Sewer Fees
Solid Waste Fees
General Fund
Revenues
et Tax
Ass-
Capital
s- ent5
CapitalI P.
Sales Thx
3,227,873 3,562,713 2,701,662 737,950 131,586,089 10,887,132 142,473,221
Hotel/Motel Tax Solid Waste Fees Internal:
Restaurant Tax Sewer Conn. Fees ServiceChgs
Water & Sewer Lease Pmts.
Special Hotel/Motel Tax
Assessments Restaurant Tax
General Fund
Revenue
General Fund Sewer -Fees
Revenue SRF Subsidy
Capital Imp.
Sales Tax
STATE OF MISSOURI )
ss Michael G. Miller
COUNTY OF CAPE GIRARDEAU )
O On this 12th day of August, 1999, before me appeared Michael G. Miller, to me personally known, who, being by me duly swom, did say that he is the City Manager of the City of Cape Girardeau, Missouri, a Municipal Corporation
of the State of Missouri, and that the seal affixed to the foregoing instrument is the seal of said City, and that the information contained herein is true and correct according to the best of his knowledge and belief.
IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal, at my office in Cape Girardeau, Missouri, the day and year first above written.
My Commission Expires:
November 19, 2000
A
Gay a Conrad
GAYLE CONRAD
NOTARY PUBLIC STATE OF MISSOURI
CAPE GIRARDEAU COUNTY
MY COMMISSION EXP NOV 19,2000
Certificates of Participation
Current
Projected
Projected
Annual
Principal &
Total Annual
Principal &
Interest on
Principal &
1993
1994
1997A
19978
Interest Due
Proposed Bonds
Interest Due
430,013
401,260
352,594
110,270
9,284,791
9,284,791
466,148
393,255
351,262
106,510
8,169,956
86,000
8,255,956
504,588
394,475
354,150
102,670
8,852,240
172,000
9,024,240
539,588
384,835
346,190
103,750
8,619,984
172,000
8,791,984
571,838
379,443
342,716
99,500
8,496,510
197,000
8,693,510
715,700
373,215
533,750
215,250
9,337,380
196,462
9,533,842
366,133
69,250
7,126,375
195,926
7,322,301
630,125
351,750
7,720,934
195,388
7,916,322
80,845
7,008,274
194,850
7,203,124
76,768
7,079,847
229,312
7.309,159
82,360
6,683,878
278,022
6,961,900
5,878,382
340,658
6,219,040
6,995,797
401,896
7,397,693
4,556,053
456,736
5,012,789
5,479,089
520,286
5,999.375
5,219,431
527,330
5,746,761
5,090,453
594,052
5,684,505
5,004,357
654,162
5,658,519
3,955,599
1,787,768
5,743,367
1,026,758
1,761,756
2,788,514
1,925,528
1,925,528
3,227,873 3,562,713 2,701,662 737,950 131,586,089 10,887,132 142,473,221
Hotel/Motel Tax Solid Waste Fees Internal:
Restaurant Tax Sewer Conn. Fees ServiceChgs
Water & Sewer Lease Pmts.
Special Hotel/Motel Tax
Assessments Restaurant Tax
General Fund
Revenue
General Fund Sewer -Fees
Revenue SRF Subsidy
Capital Imp.
Sales Tax
STATE OF MISSOURI )
ss Michael G. Miller
COUNTY OF CAPE GIRARDEAU )
O On this 12th day of August, 1999, before me appeared Michael G. Miller, to me personally known, who, being by me duly swom, did say that he is the City Manager of the City of Cape Girardeau, Missouri, a Municipal Corporation
of the State of Missouri, and that the seal affixed to the foregoing instrument is the seal of said City, and that the information contained herein is true and correct according to the best of his knowledge and belief.
IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal, at my office in Cape Girardeau, Missouri, the day and year first above written.
My Commission Expires:
November 19, 2000
A
Gay a Conrad
GAYLE CONRAD
NOTARY PUBLIC STATE OF MISSOURI
CAPE GIRARDEAU COUNTY
MY COMMISSION EXP NOV 19,2000
BILL NO. 9 6 ,? RESOLUTION NO.
A RESOLUTION APPROVING A DEBT STATEMENT FOR THE
CITY OF CAPE GIRARDEAU, MISSOURI.
WHEREAS, Section 6.14 of the Charter of the City of Cape Girardeau, Missouri, requires the
preparation of a debt statement prior to the adoption of an ordinance calling an election at which the
question of incurring any "indebtedness" is submitted to the voters; and
WHEREAS, although the term "indebtedness" means general obligation bonds under Missouri
law, the City Council nevertheless deems it desirable to prepare and publish in accordance with the
requirements of Section 6.14 of the Charter a debt statement prior to the holding of an election providing
for the issuance of any bonds, notes or other obligations of the City; and
WHEREAS, the City Manager has prepared, sworn to and filed for public inspection in the office
of the City Clerk, detailed information pertaining to all outstanding obligations of the City and such other
information that is set out in Section 6.14 of the City Charter;
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF CAPE
GIRARDEAU, MISSOURI, AS FOLLOWS:
Section 1. The City Council approves the Debt Statement dated August 16, 1999, attached hereto.
Section Z. The City Clerk is hereby authorized and directed to forward to the County Clerk of
Cape Girardeau County, Missouri, a copy of the Debt Statement, in order to provide for the publication of
the Debt Statement with the Notice of Bond Election relating to the proposed authorization of $8,000,000
principal amount of sewerage system revenue bonds, as set out in Section 6.14 of the Charter.
Section 3. The officers of the City, including the Mayor and City Clerk, are hereby authorized and
directed to take such actions as they may deem necessary or advisable in order to carry out and perform the
purposes of this Resolution.
Section 4. This Resolution shall be in full force and effect from and after its passage and
approval.
PASSED by the City Council and APPROVED by the Mayor this day of August, 1999.
(SEAL)
Mayor
ATTEST:
City Cl r c