REGULAR MEETING of the BOND OVERSIGHT COMMISSION September 21, 2022, 2:00 P.M. to 4:00 P.M. Austin City Hall, Boards and Commissions Room 1101 301 W 2nd Street, Austin, TX 78701 Some members of the Bond Oversight Commission may be participating by videoconference. The meeting may be viewed online at: http://www.austintexas.gov/page/watch-atxn-live. Public comment will be allowed in-person or remotely via telephone. Speakers may only register to speak on an item once either in-person or remotely and will be allowed up to three minutes to provide their comments. Registration no later than noon the day before the meeting is required for remote participation by telephone. To register to speak remotely, call or email Tina Van Wie, 512-974-7921, tina.vanwie@austintexas.gov CURRENT BOARD MEMBERS: Santiago Rodriguez, Chair Sumit DasGupta, Vice Chair Cesar Benavides Charles Curry Michael Drohan Stephen Gonzalez CALL TO ORDER Francoise Luca John McNabb Wolfgang Niedert Kristin Weaver Nicole Wren AGENDA PUBLIC COMMUNICATION: GENERAL The first 10 speakers who register to speak no later than noon the day before the meeting will be allowed a three-minute allotment to address their concerns regarding items not posted on the agenda. APPROVAL OF MINUTES on May 18th, 2022 1. Approval of the minutes of the Regular meeting of the Bond Oversight Commission STAFF BRIEFINGS 2. Staff Briefing from Financial Services on web content related to General Obligation Public Improvement Bonds 3. Staff briefing from the Austin Police Department related to the 2012 bond program 4. Staff briefing from the Austin Public Health Department related to the 2018 bond 5. Staff Briefing from Treasury related to the Annual Public Improvement Bond program Issuance DISCUSSION AND ACTION 6. Discussion and possible action on 2023 Meeting Schedule and topics for agenda FUTURE AGENDA ITEMS ADJOURNMENT The City of Austin is committed to compliance with the American with Disabilities Act. Reasonable modifications and equal access to communications will be provided upon request. Meeting locations are planned with wheelchair access. If requiring Sign Language Interpreters or alternative formats, please give notice at least 2 days (48 hours) before the meeting date. Please call Tina Van Wie, Financial Services Department, at 512-974-7921, for additional information; TTY users route through Relay Texas at 711. For more information on the Bond Oversight Commission, please contact Tina Van Wie at 512-974-7921.
C I T Y O F A U S T I N | S E P T E M B E R 2 1 , 2 0 2 2 Bond Oversight Commission Bond Oversight Commission C I T Y O F A U S T I N | S e p t e m b e r 2 1 , 2 0 2 2 Bond Oversight Commission Bond Oversight Commission Our Vision Ensure efficiency, equity, timeliness, and accountability in the implementation of existing and future City bond programs. Our Goals The mayor and council shall work with the commission to set priorities and goals for each new bond issue to be submitted to the voters. The commission shall advise the council on proposed bonds and the implementation of projects approved in bond elections. Our Mission The commission shall monitor the city manager's plans relating to the issuance of bonds and the implementation of projects approved in bond elections, including the review of future potential bonds, the annual appropriation of bond funds, and any changes in the amount of bond funds issues or cash commitments made. 9/21/2022 1 C I T Y O F A U S T I N | S e p t e m b e r 2 1 , 2 0 2 2 Bond Oversight Commission Bond Oversight Commission I T E M 3 . PUBLIC SAFETY 2012 BOND Proposition 16 – Police P r e s e n t e r s : C h e l s i e D i t t m a n A P D I n t e r i m C h i e f A d m i n i s t r a t i v e O f f i c e r M i c h e l l e S c h m i d t A P D A s s i s t a n t D i r e c t o r C I T Y O F A U S T I N | S e p t e m b e r 2 1 , 2 0 2 2 B o n d O v e r s i g h t C o m m i s s i o n | p g . 4 2012 BOND, PROPOSITION 16 Public Safety The issuance of $31,079,000 public …
Bond Oversight Commission, Item 4 September 21, 2022 Dove Springs Public Health Facility 5811 Palo Blanco Lane 2018 Bond Project, Austin Public Health Project Update – September 21, 2022 Kymberley Maddox, Austin Public Health Filip Gecic, Austin Public Health Kalpana Sutaria, Public Works 3 4 2018 - PROPOSITION E Health and Human Services BOND BALANCES Voter-approved $16,000,000 Appropriated $16,000,000 Encumbered $422,361 Spent Committed Available Data thru Q3 FY 2022 $1,555,666 $1,978,027 $14,021,973 100% Appropriated 12% Committed 5 6 Background Multiple flood events have highlighted the lack of public health, basic needs, preventive health care, and employment support services in this neighborhood Austin Public Health (APH) has provided limited services to residents working in partnership with the George Morales Dove Springs Recreation Center and the new facility will consolidate all public health services in one location This new facility was funded in the 2018 Bond Election to provide a full- service Neighborhood Public Health Facility The use of parkland adjoining the George Morales Dove Springs Recreation Center was approved by the Parks Board and City Council in September of 2019 7 8 Community Programs Full-Service Neighborhood Center Basic Needs Services (Food Pantry, Clothes Closet, application assistance) Public Health Nursing/Health Screening Social Work Services Seasonal services (Blue Santa, Thanksgiving Baskets) Women, Infants & Children Clinic (WIC) with counseling services Immunization Clinic Shots for Tots Big Shots High Quality Childcare Center to serve 75 children Multipurpose space and demonstration kitchen for nutrition classes Addition of lighting to the existing soccer fields for promotion of youth programs Construction of trails for connection of neighborhood to Dove Springs District Park trail system APH will manage the public health programs and solicit an operator to manage the high-quality childcare center 9 Community Involvement A Dove Springs Task Force (TF) was formed which represents various community groups and other community leaders in the Dove Springs area to assist with community communications (list on next slide) For Community feedback, we held 4 in-person meetings, 4 virtual meetings and 10 meetings with the Task Force We continue to engage with the TF on all aspects of the project including the Art in Public Places Program A survey was done to receive community input on schematic design to share all aspects of project including the site plan layout, …
Update on Annual General Obligation Bond Sale Belinda Weaver, Treasurer Joey Kellar, Division Chief - Treasury General Obligation Debt • Property Tax Rate has 2 components Tax Rate Operating & Maintenance (O&M) (General Fund) Debt (Debt Service Fund) • Debt Service tax rate set each year at level needed to fund principal and interest payments on debt issued and pledged with property tax • Pays both existing debt service and debt service associated with upcoming General Obligation bond sale General Obligation (GO) Debt • GO Debt = Public Improvement Bonds, Certificates of Obligation, and Contractual Obligations – $1.675 billion in outstanding General Obligation debt – Issued once per year – Backed by property (ad valorem) taxes and “full faith and credit” of the City Types of GO Debt Purpose Voter Approval City Term Public Improvement Bonds (PIBs) Capital Improvement projects and capital assets Yes 20 years Certificates of Obligation (COs) Real property: land, buildings, right of way, construction of a public work No 20 years Contractual Obligations (PPFCOs) Personal property: equipment, machinery, vehicles, information technology No 7 years Steps to Sell or Issue Debt Spring 2021 Develop CIP Plan August 2021 for FY2021-22 Annual Capital Budget Appropriations Reimbursement Resolutions Spring/Summer/Fall 2022 Develop Bond Sale Schedule Preliminary Official Statement Council Action on Bond Sales Bond Sales and Closing • Work on upcoming bond sale began Spring 2021 • Debt to be sold in upcoming bond sale supports projects and appropriations (authority to spend) previously approved by City Council • Use of Reimbursement Resolution allows projects to begin now and get funded later • Consistent with IRS regulations • Consistent with Financial Policies regarding cash management • Results in lower interest costs GO Bond Sale – Series 2022 September Sale: Public Improvement Bonds (PIBs) - $200.00 M • 2016 Bond Program (Transportation): $110.00 M • 2018 Bond Program: $81.00 M • Affordable Housing - $60.00 M • Parks and Recreation - $15.00 M • Flood Mitigation/Open Space/Water Quality - $3.00M • Library & Cultural – $3.00 M • 2020 Bond Program: $9.00 M • Transportation - $9.00 M GO Bond Sale – Series 2022 • Entire bond sale supports projects and related appropriations already approved by City Council • After September 2022 bond sale, there will be $1,454.895 million in remaining voter authorized general obligation bonds to sell • 2006 Bonds - $4.000 M • 2012 Bonds - $14.480 M • 2016 …
