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1996-03-12 WSB AGENDA
AGENDA ENGLEWOOD WATER AND SEWER BOARD MARCH 12, 1996 5:00 P.H. ,COMMUNITY ROOM 1. MINUTES OF THE FEBRUARY 13, 1996 MEETING. (ATT. 1) 2. SOUTHGATE SUPPLEMENT #128. (ATT. 2) 3. MEMO DATED FEB. 23, 1996 REGARDING S. ENGLEWOOD SAN. DIST. -COLLECTION OF TAP FEES. (ATT. 3) 4. INFORMATIONAL ITEMS: A. AWWA PUBLICATION, MAINSTREAM "BOARD ELECTS OFFICERS" (ATT. 4) B. DENVER POST ARTICLE -"SUBURBS' SLUDGE TO BOOST DEER TRAIL WHEAT FIELDS." (ATT. 5) 5. OTHER. ***************** 6. PUBLIC MEETING -WATER RATE INCREASE. (BEGINS AT 5:30 P.M. IN COMMUNITY ROOM) ATT. I WATER AND SEWER BOARD MINUTES FEBRUARY 13, 1996 The meeting was called to order at 5:05 p.m. Chairman Fullerton declared a quorum present. Members present: Members absent: Also present: Habenicht, Fullerton, Neumann, Otis, Resley, Vobejda, Wiggins, Higday Burns Stewart Fonda, Director of Utilities 1. MINUTES OF THE JANUARY 9, 1996 MEETING. The Englewood Water and Sewer Board Minutes from the January 9, 1996 meeting were approved. Mr. Vobejda moved; Mr. Otis seconded: Ayes: Nays: Members absent: Motion carried. To approve the January 19, 1996 Englewood Water and Sewer Board Minutes. Habenicht, Fullerton, Neumann, Otis, Resley, Vobejda, Wiggins, Higday None Burns 2. SOUTH ENGLEWOOD NEW SUBDIVISION ON E. ORCHARD. The Board received a memo from Jim Veryser of the Utilities Department concerning a subdivision that has been developed without the City's knowledge. No taps have been c.onnected or paid. The City is requiring a recorded plat, a sewer mylar and satisfactory sewer main test results. Stu noted that double fees may be charged and an addendum may be filed at the County on the property titles stating that the City was not given the opportunity, before the lines were buried, to inspect the sewer lines. 3. SOUTH ARAPAHOE SAN. DIST. UNPAID TAP FEES. Stu reviewed a proposed settlement from Darryl Farrington regarding unpaid tap fees in South Arapahoe Sanitation District. Englewood was not able to collect the unpaid tap fees because of the statute of limitations. South Englewood is proposing to pay the sum of $10,934.38, one-half the total known unpaid tap fees due the City. The City will file tax lines on future delinquent tap fees. The District will be responsible for fees not collected by tax liens. When the Connector's Agreement is renewed, the District will modify the agreement to include a provision agreeing to be responsible for tap fees not collected by tax liens. The District will monitor the Arapahoe County building permit process to report delinquencies to the City on a timely basis. The City agrees to release the District from further obligations for any known unpaid tap fees due. The Board concurred with the proposed agreement. Mr. Otis moved; Ms. Habenicht seconded: Ayes: Nays: Members absent: Motion carried. To recommend C-0uncil approval of the Letter of Agreement dated February 2, 1996 with South Arapahoe regarding unpaid tap fees. Habenicht, Fullerton, Neumann, Otis, Resley, Vobejda, Wiggins Higday None Burns 4. CAPACITY IN CITY DITCH -CENTENNIAL The Board received a letter from John Hendrick of Centennial Water and Sanitation District dated February 1, 1996. Centennial would like to initiate discussion with Englewood to reach a long-term capacity arrangement in the City Ditch. Stu noted negotiations for the McLellan/Centennial agreement are coming up and the issue of Centennial ceasing future condemnation was not resolved. 5. BUELL PROPERTY IN CHERRY HILLS VILLAGE. The Board received a memorandum from Bradley Coldiron at #8 Sunrise Drive. Mr. Coldiron outlined his concerns regarding the Buell Property at Belleview and University. 6. FINANCING PLAN for 1996-97 WATER PROJECTS. The Board received a preliminary financing plan for 1996-97 water projects from Jeanne Vanda of Public Financial Management, Inc. of Minneapolis, Minnesota. 6. LICENSE AGREEMENTS FOR CROSSING THE CITY DITCH FROM THE ENGLEWOOD PUBLIC WORKS & PARKS & REC. DEPTS. The Board received three License Agreements. The first two were from the City of Englewood Public Works Department for replacing two bridges crossing the City Ditch. One is at the south end of the 2700 block of South Emerson Street and the other is at the east end of the 900 block of East Amherst Avenue. One License Agreement was submitted from the City of Englewood Parks and Recreation Department for replacing an existing bridge crossing the City Ditch in Belleview Park near Windermere. Stu noted that since the License Agreements are between City of Englewood divisions, they do not have to go to City Council. Mr. Higday moved; Ms. Neumann seconded: Ayes: Nays: To ~dL.approval of the two License Agreements submitted by the City of Englewood Public Works Dept. Habenicht, Fullerton, Neumann, Otis, Resley, Vobejda, Wiggins Higday None Members absent: Motion carried. Mr. Vobejda moved; Mr. Otis seconded: Ayes: Nays: Members absent: Motion carried. Burns To recommend Council approval of the License Agreements submitted by the City of Englewood Parks and Recreation Department. Habenicht, Fullerton, Neumann, Otis, Resley, Vobejda, Wiggins Higday None Burns The meeting adjourned at 5:30 p.m. The next Water and Sewer Board meeting will be March 12, 1996 at 5:00 p.m. in the Community Room. Respectfully submitted, Cathy Burrage Recording Secretary PUBLIC MEETING FEBRUARY 13, 1996 5 :30P.M. WITH THE ENGLEWOOD WATER AND SEWER BOARD WATER RATE INCREASE A public meeting was held , as advertised , to discuss the proposed water rate increase. The following Englewood citizens were present: Stan Brown of Alameda Nursery -1950 W. Dartmouth Melvin Minnich -4565 S . Pearl St. Roger Neumann -5090 S. Elati St. Jim Gilham -3343 W . Hialeah Phil Russell -15 51 E . Cornell Frank Golombek -1900 E . Girard Pl. # 108 The following Englewood employees and representatives were present: Joe Pershin, Allen Filter Plant Bill McCormick, Allen Filter Plant Stu Fonda, Director of Utilities John Bock, Customer Service -Utilities Dennis Stowe -Bi-City Wastewater Treatment Plant Carl Houck -Camp Dresser & McKee Stu Fonda and Carl Houck outlined the proposed rate increase for Allen Plant improvements which includes new flock-sedimentation system, filter upgrades, disinfection improvements, iron and manganese control system, raw water deliver system and misc . improvements. A question and answer session followed . A TT. 2 SUPPLEMENT NO. 12 8 TO CONNECTOR'S AGUBMBNT THIS AGREEMENT, made and entered into by and between the CITY OF ENGLEWOOD, acting by and through its duly authorized Mayor and City Clerk, hereinafter called the •city,• and SOUTHGATE SANITATION DISTRICT, Arapahoe and Douglas Counties, Colorado, hereinafter called the •Diatrict,• WITNESSETB: WHEREAS, on the 20th day of June, 1961, the City and the District entered into an Agreement in which the City agreed to treat sewage originating from the District's sanitary sewer system within the area served by the District, which Agreement was most recently renewed by Connector's Agreement dated November 16, 1988; and WHEREAS, said Connector's Agreement provides that the district may not enlarge its service area without the written consent of the City; NOW, TBEREFOU, in consideration of the mutual covenants and undertakings herein set forth, the parties agree as follows: l. The City hereby consents to the inclusion of certain additional area located in Douglas County, Colorado, owned by TBE STATE OF COLORADO, Acting by the State Board of Land Commissioners, and U.S. Home Corporation and more fully described on Exhibit A attached hereto and incorporated herein by reference, into Southgate Sanitation District. The City agrees that said additional area may be served with the sewer facilities of the District, and that the City will treat the sewage discharged into the city's trunk line from said additional area, all in accordance with the Connector's Agreement dated November 16, 1988. Accordingly, Exhibit A referred to in Paragraph l of the Connector's Agreement dated November 16, 1988, is hereby amended to include such additional area.· 2. Each and every other provision of the said Connector's Agreement dated November 16, 1988, shall remain unchanged. IN WITNESS WHEREOF, the parties have set their hands and seals this ~~-day of , 19~ ATTEST: CITY CLERK (SEAL) ATTEST: (3E.7U,) GTH \5338 0 . 09 . 2 \l 3'991 .1 CITY OF BNGLB'WOOD SOUTHGATE SANITATION DISTRICT, ARAPAHOE AND DOUGLAS COUNTIES, COLORADO By:~k_~· PRESIDENT EXHIBIT A Legal Description A PARCEL OF LAND LOCATED IN THE SOUTH ONE-HALF (S1/2) OF SECTION 16, TOWNSHIP 6 SOUTH , RANGE 67 WEST OF THE 6TH PRINCIPAL MERIDIAN , COUNTY OF DOUGLAS, STATE OF COLORADO, MORE PARTICULARLY DESCRIBED AS FOLLOWS: THE TRUE POINT OF BEGINNING BEING THE SOUTHWEST CORNER OF SAID SECTION 16; THENCE N00°04 '22 "E ALONG THE WEST LINE OF THE SOUTHWEST ONE-QUARTER OF THE SOUTHWEST ONE-QUARTER (SW1/, SW/,) OF SAID SECTION 16, A DISTANCE OF 1323.56 FEET TO THE S1/16 CORNER OF SAID SECTION 16 ; THENCE N00°03 '121 E ALONG THE WEST LINE OF THE NORTHWEST ONE-QUARTER OF THE SOUTHWEST ONE-QUARTER (NW/, SW/,) OF SAID SECTION 16, A DISTANCE OF 1323.30 FEET TO THE WV, CORNER OF SAID SECTION 16; THENCE S89°08 '56"E ALONG THE NORTH LINE OF THE SOUTHWEST ONE-QUARTER (SWV.) OF SAID SECTION 16, A DISTANCE OF 2634 .98 FEET TO THE C 1/, CORNER OF SAID SECTION 16; THENCE S89°08 '37"E ALONG THE NORTH LINE OF THE SOUTHEAST ONE-QUARTER (SE 1/.) OF SAID SECTION 16, A DISTANCE OF 112.93 FEET ; THENCE S00°51'23"W, A DISTANCE OF 628.75 FEET; THENCE N88°13 '36"W, A DISTANCE OF 310.92 FEET ; THENCE N49°31 '13"W, A DISTANCE OF 331.50 FEET ; THENCE S87°50 '27"W, A DISTANCE OF 383 .74 FEET ; THENCE S35°05'45"W, A DISTANCE OF 399.83 FEET; THENCE S66°19 '15"W, A DISTANCE OF 546.45 FEET; THENCE S19°46'03"W, A DISTANCE OF 329 .15 FEET ; THENCE S00°53'20"E, A DISTANCE OF 696.68 FEET ; THENCE S40°07'14"E, A DISTANCE OF 346 .84 FEET; THENCE S00°01 '13"E, A DISTANCE 369.14 FEET TO A POINT ON THE SOUTH LINE OF THE SOUTHWEST ONE•QUARTER (SW1/,) OF SAID SECTION 16; THENCE S89°58'47"W ALONG THE SOUTH LINE OF THE SOUTHWEST ONE-QUARTER (SWV.) OF SAID SECTION 16, A DISTANCE OF 1187.53 FEET TO THE TRUE POINT OF BEGINNING. CONTAINING 87 .89 ACRES OF LAND MORE OR LESS . ALL BEARINGS REFERRED TO HEREIN ARE BASED ON THE ASSUMPTION THAT THE WEST LINE OF THE SOUTHWEST ONE-QUARTER OF THE SOUTHWEST ONE-QUARTER (SW1f, SW/.) OF SAID SECTION 16 BEARS N00°04 '22 1 E. THE SOUTHWEST CORNER OF SAID SECTION 16 BEING A 3y,• ALUMINUM CAP STAMPED "ARCHER & ASSOC . LS 6935" AND THE Sl/16 CORNER OF SAID SECTION 16 BEING A 1%" ALUMINUM CAP STAMPED "LS 17666." PREPARED BY : MARLENE\999981138704 .1 THE LUND PARTNERSHIP , INC. 12265 WEST BAYAUD AVENUE, SUITE 130 LAKEWOOD, CO 80228 303-989 -1461 DATE: AUGUST 11, 1995 WESTERN STATES CONSULTANTS, INC. October 3, 1995 Board of Directors Southgate Sanitation District 3722 E. Orchard Road Littleton, Colorado 80121 Re: CARRIAGE CLUB EST A TES Dear Gentlemen: U.S. Home Corporation requests your consideration for inclusion of approximately 8 7 .89 acres into the Southgate Sanitation District. The property to be considered is a portion of the South one-half of Section 16, Township 6 South, Range 67W. The current zoning per Douglas County records is ER/DEO (Estate Residential/Design Enhancement Overlay), with an approved lotting plan for 1 51 single-family dwelling units. Service to the site would be provided by a gravity sewer system flowing northerly through Carriage Club Filings No. 2 arid No. 3 and ultimately to Lincoln Avenue. Previous discussions with Southgate representatives has indicated that this approach is feasible. It is anticipated that construction could begin in late 1996, or early 1 9 9 7, with service needs in mid 1 9 9 7. 5555 DTC PARKWAY, SUITE C-3009 ENGLEWOOD, CO 80111 • (303) 694-1992 Board of Directors October 3, 1995 Page 2 Please feel free to call myself, or Brian Daly (779-6100) with any questions you may have relative to this request. Respectfully, WESTER T T CONSULT ANTS, INC. ven J. Kornbrust resident SJK/csk Enclosures c: Bdan Daly, U.S. Home Corporation CARRIAGE CLUB SKETCH PLAN •3 AND CARRIAGE CLUB EST A TES SKETCH PLAN •1 CEW IC'IV'WAl All'.la" PO ~?!'!_~~?:. ~~!'!::!!JttY) AJ o4 ,._,.... ,,.,._. A liftd 8 'h 8 V2 of W. .,.,, U• al'ld tM I VI o4 ~ ._ T~ 98. ~ l?W. ltfll "Al. ~ Courtty, CO 1196..i ......... s:u ............. lotl t=J. tO ~;.~~1 .i~r<'7;tqQl]JjJ ~,~ • , ... w . ,_ -~;t.:::. srT1' DATA ..__a.uo ~QJJIDTATD TOTAi. ----. -- ~ -----'/---~----~:-:.-,-:c.=:---' ·,\ ~ --<. 7'.'.--:-- '-. ' ' ' ' _._,,,. .. "-" ... ... ...... O.• ... "°""° A..o.•. .a .. .... .. .,...,. ..... ....... .. .. .... ---.... -· ... ... u °'° .. TOTAi. .. ..... ..... .. . --..... a.a ...n0411'\.Ni1., ~o...L.9ataTD MnO<""" .. 1.&#"11¥1" £ST~ 11"5 PD ~r""'Y...-...h9fl:~f 0.-.}· I ' ·. , i ...,.,,;..-..;.,c_~ ·,, I \ .· \ ~: i' ~·. •I \ -. ·-. _::::: .. : .. -: ':' ... ... ..... .. . ... .._ . .... .. --..... \,... ~-·:':u.··f;-1 :':~ .":.\'· ·:\ . ' . :; i;; i ; , VICINITY MAP NOTES '----·--·-----------l----------------.--------· ·~--·------·------·--------------·-------- 22 ----.. ---·--------.._ ... ____ _ -----------.... ::'-~ ~.:.:·::..-::--=-..:: ., .... _______ _ ·-----------------·-~ -------t.m!Il-.-----·- ; U!OAL DESCRMlON .,._ l ·-·-----·--,-·--... ~ ...... _____ .. , ..... -.----·-·-·- t.A -... • .. --~ ... ,,,.-~ .. ---· ... ---~19'17'• ... ---~ ·-.. ----... ,·--· _ _,_. ___ _ OWhl!JIJ~ ,' .._.,. .. .. ._.,_........,,... ....... =-~-=.:----... ,, ..-.. ..... ~ ,.... ___ ____ -·-,,,, ___ _ --- -KltTATM/ ~ -.-tll!l'.C.. .. --- ru k•• , .. 100 Sketch Plan C-O"Qa Carrlooo CM> &••• .. ----............ -· - -1 .. 1 ~. ~ ~-=~ ! . (. . : \ ·.··.·:.: ~.f .~}: I '' I ---··-,... ... · ,•I -'1 \~· /, ',•I ·,: .. . ... -.-. -~__;:_r. ..-llt/"~"",._,,. ~----AD012410',..,.,-.-:·· .. .-.. _" ___ &,...1 ..__, .....,_,_,, If --·~ ~~-~"'·-·;._·_· ~r~v ·. -~·· ~Cl .:~-.'.p '·i --·-------.-...... -. ...... ---- 1HIS EXHIBIT IS A GRAPHIC DEPICTION OF 1HE PARCEL DESCRIBED ON 1HE A TI ACHED LEGAL DESCRIPTION AND IS NOT INTENDED TO INCLUDE SURVEY PLAT REQUIREMENTS AS DEFINED IN CRS 38-51-106. llM'/114 SECTION 11 w 1/4 CORNER TIS Rl1JI SECllOH 16, T6S, R67W C 1/4 CORNER FOUND PARllCAl..1.Y BURIED STONE WllH "+" ON SOUlH FACE (EXPOSED STONE MEASURED 6" X 6") SECTION 16, T6S R67W FOUND N0.5 REBAR FlUSH WllH GROUND 87.89 ACRES± s 1/16 COR. SECTION 16 le 17, T6S, R67W FOUND 1 1/2" AWMINUM CAP ON N0.5 REBAR CAP STAMPED "LS 17666" ,t..i ~co • co ,.., . \0 ID 0"' 0 ID U) S'W1/4 SECTION 1a TIS RITW NORlH LINE or SE t/4 N881J'J6"W 310.92' BEt/4 . SIECT/011 11 TIS Rl1W S 1/4 CMNER SECTION 16 , T6S, R67 FOUND J 1/~" ALUM. CAP TAMPED "LS 6935" SOUTH LINE OF THE SW 1/4 S.W. CORNER SECTION 16, T6S, R67W FOUND 3 1/4" ALUM . CAP STAMPED AS SHO\litt JOB NO . 178.0601 SCALE: 1" = 500 DA TE : AUG . 11 1995 PAGE 1 OF 1 DRAWN BY: GFS EXHIBIT TO ACCOMPANY LEGAL DESCRIPTION LOCATED IN 1HE SOUTH ONE-HALF OF SECTION 16, TOWNSHIP 6 SOUTH, RANGE 67 WEST OF THE 6TH PR INCIPAL MERIDIAN, DOUGLAS COUN1Y, COLORADO . 8 -·:: . : . GRAPHIC SCALE ( IN FEET ) 1 inch ~ 600 tt. LUND PARTNERSHIP INC . 12265 W. BAYAUD AVE . SUITE 1 ~ l.JJCEWOOD, COLORADO 80228 303 989-1461 87.89 acres± Area to be Included to District A TT,. 3 MEMORANDUM TO: Dan Brotzman, City Attorney (2,/ Nancy Reid, Assistant City Attorney /1 FROM: DATE: February 23, 1996 REGARDING : South Englewood Sanitation District #1 -Collection of Tap Fees. Pursuant to 12-2-4 E.M.C. (see Attachment 1) If sanitation fees and charges are not paid, the charges become a lien which is enforceable by action at law to enforce the lien including assessment to the County Treasurer. This is true for the City and for incorporated areas outside the City but served by the City pursuant to 31-35-701 and 31-35-708 C.R.S. (see Attachment 2). The City does collect various fees for Sanitation Districts with whom we have a connectors agreement. These fees are collected, apparently mostly as a courtesy, by the City. Two of those are Southgate and Cherry Hills Sanitation District. Both, according to their representatives are Special Districts formed pursuant to Title 32 C.R.S., as is South Englewood. 32-1-1006 C .R.S. provides for the powers of Sanitation Districts, which includes discontinuing sanitation services. It does not provide for a perpetual lien as did 32-4-101 et. seq. C.R.S. (repealed in 1981). That leaves two enforcement tools for special districts, disconnection or mechanics' liens procedures . According to Dwayne Tinsley of Southgate Sanitation the due process procedures for disconnection are normally prohibitive so they use the lien process. Therefore, while the fees for the City and the unincorporated areas (i.e. not covered by a special district) it serves may be collected by assessment procedure, those for special districts, even with the City doing the collection may not be collected by that method. The Special District may not do by contract those acts which are beyond its statutory powers . Such contracts are ultra vires and void Black v . 1st Fed. Savim:s and Loan 830 P.2d 1103 (Colo. App. 1992). Based on the above discussion , it would seem that we can contract with South Englewood to collect their tap fees , but cannot legally add that fee to ours on an assessment to the County for collection. (As a practical matter some of the fees added to ours for some districts are mixed with ours and assessed as if they are ours but that procedure would not stand legal challenge . (see Attachment 3) Ifwe do contract with South Englewood Sanitation District #l to collect their tap fees it would need to be one in which South Englewood Sanitation District #1 was the party ultimately responsible if the City failed in a good faith effort to collect such fees. We would need to reach an agreement for the collection of the fees consistent with the current connector's agreement the City has with other districts (see Attachment 3). I doubt that such a contract would fly because Mr . Maturano feels the City should be guarantor so the District will get its money . In the alternative and for future reference, at this time, per Maturano, the only thing the District collects are tap and inclusion fees which leaves very little for the District to do. For that reason the City may want to guarantee the tap fees . (Maturano says only 5 or 6 a year) and that gives the City more ammunition to take over the District unless there is a problem with the parts of the District which lie in other municipalities. IT-. .~s~· Printed on Recyc led Paper =--" .- However, I would suggest we offer a contract with the same provisions as the other connector's agreements even though he will most likely reject it. Otherwise any failure to collect on the City's part would result in our being right where we are now . NNR/nf :l- \-. \- <( (~) <t--41 \"1,J ........... l.J or-. ol-• 1- .... ..:i,-4 (..:JbJ ..... l.J.. '-"l* c:, ~~: (.") ~) t') tj .. 1--("1,J i.c-c t.J:~ lJJ I * <t: lJJ C :. * C....tll:'P"• 1-: ... -i :r-Jt --•. ,. ~ ,::,C)l. I (') >¢<U.J Z ;-~ O".I .{c,'"tJOLU ... -• * l '-•. I~·-:::) """ (. ~J "I:'~-> .. ~, .. z _.J >(< C •."L IJJIJJQ *O• C.J * <~Jt ···u_ •Cl ..+: (•Ji.C:CJ01 ::t ~~: f')•.1 : lJJ :.O:< _·'J::.>-C;, __ J Wl-0(.!) t-•-.. ;tz trJC>r'"Jl.J.I Board elects officers Bevin A. Beaudet, outgoing chair of the Water Utility Council, was selected president-elect by the AWWA Board of Directors February 4. He will rake office during the annual conference in Toronto in June and succeed to the presidency inJw1e 1997. Beam.let, who has served on the WUC sinu: 1991 , will oomplete his three-year r.enn as WUC chair in June . He is din.><.:- tor of utilities for Palm Beach Cowuy, Fla . The hoard also elected a new treasur- er, one director-at -large, and five vice- presidenrs. All will rake office in June. Marlay B. Price, the ExL"Lutive C'..om- minees nominee for tre.isurer, was elCL-r- ed to a four-year tenn as treasurer. One ofAWWAS most successful membership re1..niiters, he has been active in Ohio Se<.1ion and association affairs. He is marketing manager for Price Brothers. Elated to a dm:e-year tenn as direcror- at-large was Elisa Speranza , head of her own management and commw1ications consu.lting firm. The five section directors elected to the one-year position of vice- president are Stewart Fonda, llirec- tor of utilities, Englewood, Colo., from the Rocky Mountain Section; Roderick J. Holme, vice-presidem of Proctor and Redfern, from the Ontario Section; William A. Kelley, associate with Fishbeck, Thompson, Carr, and Huber, from the Michigan Section; David J. Swanson, engineer- ing technologist, New Westminster, B.C., from the British Columbia Section; and Robert F. Willis, deputy chief engineer for ·the Portland (Ore.) Bureau of Water Works, from the Pacific Northwest Section. samtaaon . "I grew up thinking I was going to build the next Golden Gate B1;dge," he said. Hut his assigrnnem in Pe1u with the US Peace Corps after eaming a bachelor's degree in civil engineering changed his mind. High in the Andes, he saw that what die Indians d1ere needed was nor roads and bridges, but water and sanitation . \Vhen he came back to the United States, he headed back to Oregon State University for a master's in sanitary engineering. When he joined the US Public Health Service because it "gave young engineers a lot of responsibili- ty," he became responsible for devel- oping water and sanitation services for 13 small Indian villages. AWWA, particularly the JOURNAL AWWA, was a "real salva tion" for his one- person show on the Hopi Reservation in Arizona. These early experiences taught Hoffbuhr that technology does not always solve the problem. More impor- tant, he said, "I leamed about myself and what motivates people-whether Hopi, AWWA volunteers, or staff." His success at problem solving led to a new duty ass igmnent in 1970. He transferred to the fledgling US En- vironmental Protection Agency, where he was part of the effort to cobble toged1er an agency from other pieces of the federal system and establish new relationships between the federal gov- enunent and the states. During his 18- year tenure in the USEPA Region 8 office, he probrressed to responsibilities for Safe Drinking Water A<.-r and Clean Water Act programs, environmental assessment, policy formulation, admin- istrative and financial management, and affinnative action . seiveu a:; \:.Hall: Ul U\C 1'.V\I ... ".t"\. c.u- ucation Division, which has undergone several evolutions since d1en to emerge under d1c 2 I st Century Repo1-r as a ta sk force coordinating educJtional efforts d1roughuut the associ ;1tiun . He also served on die Techni cJI and Educa- tional and General Policy cow1cils and the OPFl.OW Adviso1y Board . Perhaps l loffhuhr's most visible activity, however, has been as a trainer. For the Rocky Mow1tain Section he conducted A<.-tion Now seminars, and for the association, he wa s an instructor for nrnm:rous workshops, including fil- tration , Llste and odor control, and well construction and operation. His lan- guage skills, honed in Peru , made him the perfect ambassador for AWWA for training in Mexico and Colombia. Not on.ly in demand as an i.nsauctor on te chnical subjects, Hoffbuhr, who earned a second master's in public administration, has led management development sessions for colleagues at USEPA and AWWA. When Jack Mannion, just-retired executive director, called to ask if he were interested in the deputy executive director position, Hoffbuhr considered it the job of a lifetime. "I felt good about AWWAS problem-solving approach," he said. "I never really made d1e philo- sophic-JI transition at EPA from the problem-solving approach of the agency's initial years to the congression- ally mandated enforcement approach." His past eight years with AWWA have spa1med major changes for d1e organization. Implementation of rec- ommendations from the 2 lst Century Committee has expanded volunteer opportunities and generated excitement See New exec director, page 6 SAFE WATER FOR ALL PEOPLE • CUSTOMER SATISFACTION • TOTAL WATER MANAGEMENT DENVER POST Suburbs' sludge to boost Deer Trail wheat fields By The Associated Press bad when first dumped , but the odor DEER TRAIL -Sludge from the dissipates in 10 to 15 minutes . The Littleton-Englewood Wastewater closest home that is occupied year- Treatment Plant will be spread on round is 3 miles from the fields . wheat fields northeast of here this The Littleton and Englewood city summer in a pilot project aimed at councils have agreed to buy 5,760 healthier wheat. acres from Lloyd and Shirley Linne- The sludge "looks a lot like wet bur for $1.8 million . The Llnneburs clay " and is 80 percent water, said will have a one-year lease to grow Dennis Stowe , manager of the Arapa-and sell the wheat and will keep two- hoe County plant. It is rich in nitro-thirds of the profit. gen , which wheat needs to thrive, and If the project is successful , the also contains copper and zinc . lease will be extended in five-year in- ATT. 5 Energy Efficient Pet Doors Winterize Your Pet Now •In Doors •In Glass •In Walls •In French Doors Installation Auailable ; I HALE SECURITY PET DOOR Call for a Free Brochure · 649-1819 • 1·800-444-9499 6848 s. o.ua. Woy • Englewood, co 80112 Stowe said the sludg~e:_:s=:m=:e=:ll:::_s_::p~re=t~ty _ _::c~re=m=-e=n=.ts:·_::S_:_to::_w--e::_s::_a=_id::_. _____ _J_~~~~~~~~~~~~:_ Date March 18, 1996 INITIATED BY Utilities Department COUNCIL COMMUNICATION Agenda Item Subject Resolution for water rate increase for Allen Filter Plant improvements STAFF SOURCE Stewart H. Fonda , Director of Utilities COUNCIL GOAL AND PREVIOUS COUNCIL ACTION Resolution No. 66, November 20, 1989 was the last water rate increase. The current increase provides revenues to build facilities needed to meet future Federal requirements and provide additional treatment plant improvements for the removal of certain pathogens. RECOMMENDED ACTION The Englewood Water and Sewer Board recommended, at their March 12, 1996 meeting, Council approval of the proposed resolution which increases water rates to fund a major capital improvement program . The increases in water services charges are 9.0% on July 1, 1996, 9 .0% on January 1, 1997, 8.0% on January 1, 1998 and 8.0% on January 1, 1999. BACKGROUND, ANALYSIS, AND ALTERNATIVES IDENTIFIED Changes in Federal regulations and the increasing threat of giardia and cryptosporidium contamination have made it necessary for the City to add additional treatment processes to its water treatment plant. While the Allen Plant is currently operating at its optimal efficiency, it may not meet the new requirements. Along with increasing the safety of the treated water, the upgrades may also improve the taste and odor of the water. The City also would like to start a program to clean and improve the water mains in the streets of Englewood, and to increase it's raw water supply. A rate increase is necessary to fund these improvements. Camp, Dresser & McKee, Inc., (COM), completed a report on the existing water treatment facilities of the City. It was their opinion that the City of Englewood is currently meeting all drinking water regulations . Nevertheless, public concern over water quality issues such as cryptosporidium and giardia, together with the requirement to meet increasingly stringent regulations resulting from the 1986 Safe Drinking Water Act Amendments have prompted evaluation of the current water treatment facilities. A water plant treating surface water is required to provide sufficient treatment to insure a given percentage removal of organisms . The removal can be achieved by a combination of water treatment processes such as flocculation/sedimentation and filtration and/or disinfection. The Allen Filter Plant is currently classified as a direct filtration plant, meaning that there is no credit given to the physical removal process for flocculation and sedimentation . As such, the plant's filters are truly the only recognized physical process barrier for the removal of organisms such as giardia . To compensate for this deficiency, it is necessary to increase the dosage of chlorine to achieve the required removals . Water utilities that use disinfection with chlorine have an added concern in that chlorine reacts with a naturally occurring organic matter in the water to form disinfection byproducts which are regulated by the Disinfection , Disinfection By-products Rule (D/DBP Rule). The addition of the flocculation/sedimentation process, resulting in a full "conventional" treatment would maximize the physical removal of potential waterborne disease-carrying organisms . This addition to the Allen Treatment Plant will also require that other changes be made in raw water handling facilities, sludge handling facilities and backwash facilities. The second major process modification necessary is the upgrading of the plant's filters. The original filters were constructed in 1952. The filter media was replaced with new sand-only media in 1992 . The filters have the original filter bottoms, troughs and controls as installed in 1952. The north filters are used sparingly -only when necessary to meet peak summer demands. The south filters , constructed in 1981, were installed with dual media: anthracite coal and sand with more modem components. The south filters are the "work horse" filters of the Plant. It is recommended that the dual media in the south filters should be evaluated and, if necessary, replaced. The north filters should be upgraded with new dual media, filter bottoms , troughs and controls and surface wash and turbidimeters should be installed . The third process modification will be year-round solids handling facilities. Currently, the facilities are able to be operated seasonally during the summer months. With the construction of floc/sed, it is anticipated that the seasonal operation can continue, but it is likely that a year-round solids handling facility will be required . The above modifications are considered necessary due to the threat to raw water quality from the increased urbanized environment. Wastewater effluent flow will increase in the South Platte River upstream of the City's water intake at Union Avenue . Urban runoff from streets and other sources has the potential to negatively impact water quality in both the City Ditch and the South Platte River. FINANCIAL IMPACT Attachment #2 is a report on financing planned water system improvements by Public Financial Management, Inc. The report recommends increases to water service charges of 9.0% on July 1, 1996, 9 .0% on January 1, 1997, 8.0% on January 1, 1998 and 8.0% on January 1, 1999. These increases compound to a total increase of approximately 38.6%. The report presents cash flows that demonstrate adequate revenues are produced to issue revenue bonds to finance the construction of the $10 ,900,000 capital improvement program assuming the construction bids do not exceed the engineering estimates of cost and interest rates do not increase dramatically before bonds are issued. The cash flows indicate that using short term financing to delay bond issuance until 1999 is advantageous if interest rates do not increase more than 1 %. It is anticipated that periodic reviews of the financial plan and interest rates will be presented to Council until the bonds are actually issued. LIST OF ATTACHMENTS 1. Resolution 2. Public Financial Management, Inc Report RESOLUTION NO . ---- SERIES OF 1996 A RESOLUTION ESTABLISHING SCHEDULES FOR WATER SER VICE. Whereas, the City Council of the City of Englewood, Colorado, at a regular session held ________ ___, 1996, received a report on the subject of water rates in Englewood ; and Whereas, the Water and Sewer Board has reviewed the water rates charged by the City of Englewood . NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ENGLEWOOD, COLORADO , AS FOLLOWS : Section 1. Rates No . I and 2 -(Flat Rate and Metered Service) Inside City ; and Rate No . 3 _ (Metered Service) Outside City, are revised to read as follows : RATE NO. 1 INSIDE CITY FLAT RATE SERVICE July 1, 1996 RESIDENCE RATES : QUARTERLY RATE Facility 1-3 Rooms ..................................................................................................... $ 7 .68 4-5 Rooms ...................................................................................................... $ 9 .61 6-7 Rooms .................................................................................................... $ 11 . 17 8-9 Rooms .................................................................................................... $ 12 .38 Each Additional 2 Rooms Over 9 .................................................................. $ 1. 40 Bath .............................................................................................................. $ 7 .70 Bath and Shower ........................................................................................... $ 7 .70 Separate Shower ........................................................................................... $ 7. 70 Water Closet ................................................................................................. $ 7 . 84 Automatic Washer ......................................................................................... $ 3 . 68 Dishwasher .................................................................................................... $ 4 .20 Garbage Disposal ........................................................................................... $ 2 .81 1 or More Automobiles Per Family ................................................................. $ 3 .68 IRRIGATION RA TES : Per front foot of property ................................................................................ $ 0 .3415 (normal depth tracts -125 to 133 feet) Per square foot of property .......................................................................... $ 0 .0027 1 (odd, irregular, over or undersized tracts) RATE NO . 2 (Metered Service) INSIDE CITY Effective July 1, 1996 AVAILABILITY: Available to consumers on meters taking service inside the corporate limits of the City of Englewood, Colorado, as of July 1, 1996 . APPLICABILITY: Applicable for residential , commercial and industrial service as set forth under the Rules and Regulations adopted by the City Council and as amended from time to time . First Over METER SIZE 5/8" 3/4" l " 1-1/4" 1-1 /2" 2" 3" 4" 6" QUARTERLY QUARTERLY USAGE (GALLONS) 400,000 400 ,000 RATE PER 1000 GALLONS $ 1.27 $ 0 .79 MINIMUM CHARGES QUARTERLY USAGE INCLUDED IN MINIMUM $ 3.30 $ 3 .52 $ 32 .34 $ 40 .57 $ 61.81 $ 97. 18 $ 179 .70 $ 297.60 $ 567.53 BILL (1, 000 Gallons) RATE NO. 3 None None 22 28 45 72 135 225 450 (Metered Service) OUTSIDE CITY Effective July 1, 1996 AVAILABILITY: Available to consumers on meters taking service outside the corporate limits of the City of Englewood, Colorado, as of July 1, 1996 . APPLICABILITY: Applicable for residential , commercial and industrial service as set forth under the Rules and Regulations adopted by t he City Council and as amended from time to time. QUARTERLY QUARTERLY USAGE (GALLONS) 2 RATE PER 1000 GALLONS First Over 400,000 400,000 $ 1.78 $ 1.27 MINIMUM CHARGES METER SIZE QUARTERLY USAGE INCLUDED IN MINIMUM BILL (1,000 Gallons) 5/8" $ 3 .33 None 3/4" $ 3 .57 None l" $ 43 .90 22 1-1/4" $ 55 .38 28 1-1/2" $ 84 .90 45 2" $ 134 .13 72 3" $ 248 .99 135 4" $ 413 .08 225 6" $ 797 .80 450 PAYMENT: All bills are due and payable upon receipt of same and become delinquent 30 (thirty) days after date of bill. All requirements relative to meters shall be in accordance with the Rules and Regulations of the Water Department. No bill will be rendered for water while service is shut off at the curb box. CHARGES FOR MATERIALS : Corporation Stops Meters: 5/8"x3 /4" 3/4" l" 1-1/2" 2" and over All other materials FIRE PROTECTION SER VICE- (a) Hydrants (private) each. (b) Hydrants (public) each. First 100 Next 100 All over 200 Invoice cost plus 20% Invoice cost plus 20% Invoice cost plus 20% Invoice cost plus 10% Invoice cost plus 10% Invoice cost plus 5% Invoice cost plus 10% MONTHLY CHARGE INSIDE CITY OUTSIDE CITY 14 .63 17.07 7 .32 9 .75 4 .89 7 .32 2.43 4 .89 3 RATE NO. 1 INSIDE CITY FLAT RATE SERVICE January 1, 1997 RESIDENCE RATES : QUARTERLY RATE Facility 1-3 Rooms ..................................................................................................... $ 8.37 4-5 Rooms ...................................................................................................... $ 10 .47 6-7 Rooms .................................................................................................... $ 12 .17 8-9 Rooms .................................................................................................... $ 13 .49 Each Additional 2 Rooms Over 9 .................................................................. $ 1.52 Bath .............................................................................................................. $ 8 .39 Bath and Shower ............................. ~ ............................................................. $ 8 .39 Separate Shower ........................................................................................... $ 8 .39 Water Closet ................................................................................................. $ 8 .55 Automatic Washer ......................................................................................... $ 4 .01 Dishwasher .................................................................................................... $ 4 .58 Garbage Disposal ........................................................................................... $ 3 . 06 1 or More Automobiles Per Family ................................................................. $ 4 . 01 IRRIGATION RATES : Per front foot of property ................................................................................ $ 0 .3723 (normal depth tracts -125 to 133 feet) Per square foot of property .......................................................................... $ 0 .0029 (odd, irregular , over or undersized tracts) RATE NO. 2 (Metered Service) INSIDE CITY Effective January 1, 1997 AVAILABILITY: Available to consumers on meters taking service inside the corporate limits of the City of Englewood, Colorado, as of January 1, 1997 . APPLICABILITY: Applicable for residential , commercial and industrial service as set forth under the Rules and Regulations adopted by the City Council and as amended from time to time . QUARTERLY QUAR.TERL Y USAGE (GALLONS) 4 RATE PER 1000 GALLONS First Over METER SIZE 5/8" 3/4" l" 1-1/4" 1-1/2" 2" 3" 4" 6" 400,000 400,000 $ 1.38 $ 0 .86 MINIMUM CHARGES QUARTERLY USAGE INCLUDED IN MINIMUM $ 3 .59 $ 3 .84 $ 35 .25 $ 44 .23 $ 67 .37 $ 105 .92 $ 195 .87 $ 324 .38 $ 618 .61 BILL {l,000 Gallons) RATE NO . 3 None None 22 28 45 72 135 225 450 (Metered Service) OUTSIDE CITY Effective January 1, 1997 AVAILABILITY: Available to consumers on meters taking service outside the corporate limits of the City of Englewood, Colorado, as of January 1, 1997. APPLICABILITY: Applicable for residential , commercial and industrial service as set forth under the Rules and Regulations adopted by the City Council and as amended from time to time . First Over METER SIZE 5/8" 3/4" 1" 1-1/4" 1-1 /2" 2" 3" 4" QUARTERLY QUARTERLY USAGE (GALLONS) 400 ,000 400 ,000 RATE PER 1000 GALLONS $ 1.94 $ 1.38 MINIMUM CHARGES QUARTERLY USAGE INCLUDED IN MINIMUM BILL (LOOO Gallons) $ 3.63 None $ 3 .89 None $ 47 .85 22 $ 60 .36 28 $ 92 .55 45 $ 146 .20 72 $ 271.40 135 $ 450 .26 225 5 6" $ 869 .60 450 PAYMENT : All bills are due and payable upon receipt of same and become delinquent 30 (thirty) days after date of bill . All requirements relative to meters shall be in accordance with the Rules and Regulations of the Water Department. No bill will be rendered for water while service is shut off at the curb box. CHARGES FOR MATERIALS : Corporation Stops Meters : 5/8"x3/4" 3/4" l" 1-1/2" 2" and over All other materials FIRE PROTECTION SER VICE: (a) Hydrants (private) each. (b) Hydrants (public) each. First 100 Next 100 All over 200 INSIDE CITY 15.95 7 .98 5.33 2 .65 Invoice cost plus 20% Invoice cost plus 20% Invoice cost plus 20% Invoice cost plus 10% Invoice cost plus 10% Invoice cost plus 5% Invoice cost plus 10% MONTHLY CHARGE OUTSIDE CITY 18 .61 10.63 7.98 5.33 RATE NO. 1 INSIDE CITY FLAT RATE SERVICE January 1, 1998 RESIDENCE RATES: QUARTERLY RATE Facility 1-3 Rooms ..................................................................................................... $ 9 .04 4-5 Rooms ...................................................................................................... $ 11 .31 6-7 Rooms .................................................................................................... $ 13 .14 8-9 Rooms .................................................................................................... $ 14 .57 6 Each Additional 2 Rooms Over 9 .................................................................. $ 1. 65 Bath .............................................................................................................. $ 9.06 Bath and Shower ........................................................................................... $ 9 . 06 Separate Shower ........................................................................................... $ 9 . 06 Water Closet ................................................................................................. $ 9 .23 Automatic Washer ......................................................................................... $ 4 . 3 3 Dishwasher .................................................................................................... $ 4 . 94 Garbage Disposal ........................................................................................... $ 3 .30 1 or More Automobiles Per Family ................................................................. $ 4 .33 IRRIGATION RATES : Per front foot of property ................................................................................ $ 0 . 4021 (normal depth tracts -125 to 133 feet) Per square foot of property .......................................................................... $ 0 .0031 (odd, irregular, over or undersized tracts) RATE NO . 2 (Metered Service) INSIDE CITY Effective January 1, 1998 AVAILABILITY: Available to consumers on meters taking service inside the corporate limits of the City of Englewood, Colorado, as of January 1, 1998 . APPLICABILITY: Applicable for residential , commercial and industrial service as set forth under the Rules and Regulations adopted by the City Council and as amended from time to time . First Over METER SIZE 5/8" 3/4" 1" 1-114" 1-112" 2" 3" 4" QUARTERLY QUARTERLY USAGE (GALLONS) 400,000 400,000 RATE PER 1000 GALLONS $ 1.49 $ 0 .93 MINIMUM CHARGES QUARTERLY USAGE INCLUDED IN MINIMUM $ 3 .88 $ 4 .15 $ 38 .08 $ 47 .76 $ 72.76 $ 114.40 $ 211.54 $ 350.33 7 BILL ( 1, 000 Gallons) None None 22 28 45 72 135 225 6" $ 668 .10 450 RATE NO. 3 (Metered Service) OUTSIDE CITY Effective January 1, 1998 AV All.ABILITY: Available to consumers on meters tiling service outside the corporate limits of the City of Englewood, Colorado , as of January 1, 1998 . APPLICABILITY: Applicable for residential , commercial and industrial service as set forth under the Rules and Regulations adopted by the City Council and as amended from time to time . First Over QUARTERLY QUARTERLY USAGE (GALLONS) 400 ,000 400,000 RATE PER 1000 GALLONS $ 2 .10 $ 1.49 MINIMUM CHARGES METER SIZE QUARTERLY USAGE INCLUDED IN MINIMUM BILL (1,000 Gallons) 5/8" $ 3 .92 None 3/4" $ 4.20 None l" $ 51.68 22 1-114" $ 65 .19 28 1-1/2" $ 99.95 45 2" $ 157 .90 72 3" $ 293 .1 1 135 4" $ 486 .28 225 6" $939 .17 450 PAYMENT: All bills are due and payable upon receipt of same and become delinquent 30 (thirty) days after date of bill . All requirements relative to meters shall be in accordance with the Rules and Regulations of the Water Department. No bill will be rendered for water while service is shut off at the curb box . CHARGES FOR MATERIALS : Corporation Stops Meters : Invoice cost plus 20% 8 5/8"x3 /4 11 314" 111 1-1/2" 2" and over All other materials FIRE PROTECTION SE RVIC E: Invoice cost plus 20% Invoice cost plus 20% Invoice cost plus 10% Invoice cost plus 10% Invoice cost plus 5% Invoice cost plus 10% MONTHLY CHARGE INSIDE CITY OUTSIDE CITY (a) Hydrants (private) each . 17 .22 20 .10 (b) Hydrants (public) each . First 100 8 .61 11.48 Next 100 5.75 8 .6 1 All over 200 2 .87 5.75 RATE NO. 1 INSIDE CITY FLAT RATE SERVICE January 1, 1999 RESIDENCE RATES : QUARTERLY RATE Facility 1-3 Rooms ..................................................................................................... $ 9 .76 4 -5 Rooms ...................................................................................................... $ 12.2 1 6-7 Rooms .................................................................................................... $ 14 .19 8-9 Rooms .................................................................................................... $ 15 .73 Each Additional 2 Rooms Over 9 .................................................................. $ 1. 78 Bath .............................................................................................................. $ 9.79 Bath and Shower ........................................................................................... $ 9 . 79 Separate Shower ........................................................................................... $ 9 . 79 Water Closet ................................................................................................. $ 9 .97 Automatic Washer ......................................................................................... $ 4 .67 Dishwasher .................................................................................................... $ 5. 34 Garbage Disposal ........................................................................................... $ 3 .57 1 or More Automobiles Per Family ................................................................. $ 4.67 IRRIGATION RATES : Per front foot of property ................................................................................ $ 0.4342 (normal depth tracts -12 5 to 133 feet) 9 Per square foot of property .......................................................................... $ 0 .0034 (odd, irregular, over or undersized tracts) RAIENO 2 (Metered Service) INSIDE CITY Effective January 1, 1999 AVAILABILITY: Available to consumers on meters taking service inside the corporate limits of the City of Englewood, Colorado, as of January 1, 1999 . APPLICABILITY: Applicable for residential, commercial and industrial service as set forth under the Rules and Regulations adopted by the City Council and as amended from time to time . First Over METER SIZE 5/8" 3/4" l" 1-1/4" 1-1/2" 2" 3" 4" 6" QUARTERLY QUARTERLY USAGE (GALLONS) 400,000 400 ,000 RATE PER 1000 GALLONS $ 1.61 $ 1 .00 MINIMUM CHARGES QUARTERLY USAGE INCLUDED IN MINIMUM $ 4 .19 $ 4 .78 $ 41.12 $51.58 $ 78 .58 $ 123 .55 $ 228.47 $ 378 .36 $ 721.55 BILL (1.000 Gallons) RATE NO . 3 None None 22 28 45 72 135 225 450 (Metered Service) OUTSIDE CITY Effective January 1, 1999 AVAILABILITY: Available to consumers on meters taking service outside the corporate limits of the City of Englewood, Colorado, as of January 1, 1999 . APPLICABILITY: Applicable for residential , commercial and industrial service as set forth under the Rules and Regulations adopted by the City Council and as amended from time to time. 10 First Over QUARTERLY QUARTERLY USAGE (GALLONS) 400 ,000 400 ,000 RATE PER 1000 GALLONS $ 2 .26 $ 1.61 MINIMUM CHARGES METER SIZE QUARTERLY USAGE INCLUDED IN MINIMUM BILL (1, 000 Gallons) 5/8" $ 4 .23 None 3/4" $ 4 .54 None 1" $ 55 .81 22 1-114" $ 70.40 28 1-112" $ 107 .94 45 2" $ 170 .53 72 3" $ 316 .56 135 4" $ 525 .18 225 6" $ 1014 .30 450 PAYMENT: All bills are due and payable upon receipt of same and become delinquent 30 (thirty) days after date of bill . All requirements relative to meters shall be in accordance with the Rules and Regulations of the Water Department. No bill will be rendered for water while service is shut off at the curb box. CHARGES FOR MATERIALS : Corporation Stops Meters: 5/8"x3 /4" 3/4" l" 1-112" 2" and over All other materials FIRE PROTECTION SER VICE : (a) Hydrants (private) each. (b) Hydrants (public) each. Invoice cost plus 20% Invoice cost plus 20% Invoice cost plus 20% Invoice cost plus 10% Invoice cost plus 10% Invoice cost plus 5% Invoice cost plus 10% MQNIHLY CHARGE INSIDE CITY QUTSIDE CITY 18.60 21.71 11 First 100 Next 100 All over 200 9 .30 12.39 6 .21 9.30 3.09 6 .21 ADOPTED AND APPROVED this ______ day of 1996 . 12 Short-term Interim Financing CASH FLOW MODEL NUMBER SIX _L _ L _j WATER ENTERPRiSEFUNO ___ ---____ 1£.!_VE YEAR CASH PROJECT~_----_J-----t 1 ==l t=J I I 1996CAPITAL pROJEcrs :-iEEGULCHFLUM~S4s.0oO;CiTYDiTCH PIPING ~OOO;ALLEiifpi.ANfTMPROVEMENTS = $1,357 ,000 199sDiSTRlBUTION PROjECTS: CDOT/WlNDERMERE = $275,000; 16" UNION MAIN= $60 § [-----·----- PROJECTED PROJECTS : COM SCHEDULE FOR ALLEN PLANT IMPROVEMENTS. SEE COM PLANT EVALUATION REPORT. I O&M INCREA I 4 .00% INTERESTl4.50% INTERIM FINANCING IN 1997; REFINANCE IN 2000 CENTENNIAL CONTRACT OF 1500 AF/YEAR. Rate 11TEM I 1994 I 1995 I 1996 1997 t-1998 f 1999 J _ __3(!00 I 2001 Increase Actual Estimated Budget Projected Projected -Projected IPrO]ected Projected Year Annual Cumul. REVENUE ~:1 57.400 ~4.157.40ol1996 n.o0o/.i 900% WATER SALES $ 3,060,692 $ 2 ,679 ,731 $ 3,000,000 $ 3, 135,000 $ 3,564,300 $ 3 ,649,444 RATE INCREASE --135,000 429,300 265, 144 307,956 --1997 9 .00 % 16 .61 % -~ 3,060 ,-692 2,679 ,731 3,135,000 3 ,5 64,300 3,649,444 4 ,157,400 4 ,157,400 . 4 ,157 ,400 1996 6 ~Yo ~~:31% 116.610 % 126.315% 136 .560 % 136 .560% 136 .560 % 1999 6.00% 36 .56% RAWWATER -----· ---667 ,645 ---a12 .01a ---663,645 ---663,645 954,950 954 ,950----ss4.9so _____ 1,002 ,697 2000 -0 .00°7. 38.58% OTHER _______ ----42.043 174,900 45.ooo 45 ,ooo 45,ooo 45.ooo ---45 ,ooo -45 ,ooo 2oo1 ~o .oo % --36 _5a% CITY DITCH ----------43,977 -------73,542 50,000 50,000 -----50,000 -50 ,000 -50,000 >--50,000 BOND PROCEEDS ------------------______ ,_ ------- TOTAL REVENUE 4 ,034 ,357 4,000,251 4 ,113,645 4,542 ,946 4,699,395 5 ,207 ,351 5,207,351 I 5 ,255 ,096 1---·---·--- I ------~--- o&M (NO DEPR) __ (2,749,716) (3,072 ,762) (3,305,950) (3 ,436 ,166) (3 ,575 ,716) (3 ,716,744) (3,667 ,494)1 -~~~ 194) FRANCHISE TAX (92 ,421) (66,394) (94,050) (106 ,929) (115,463) (124 ,722) (124,722) (124,722) ----'---·--- 1 NET OPER . I ! _____ 1 ,192 ,21~ 1 ==B41,09~1 713,6451 9_97,62~, ___ 12._06 ,1961 !_:363,665 -1 _ 1,215 ,1351 __ 1,106 .~---'=-=1 -= 1 -------~·----·-1 -----------1-------1 !-------·-I ------!-------DEBT SERV ______ , ___ , ---·------ PRINCIPAL J I (1,790 ,000) (470 ,000) (505,000) (~00,000)1 I I INTEREST j (95 ,426) (67 ,371) (41,573) (12 ,500) -------+-----+-----1----I I --------1 I 1---•---- tUTURE DEBT I -I -I -I (293,796)1 (391 ,730)1 (391,730)1 (9 ,501,730)1 (771,660)1 I I I ROUT CAP REPLACE (66 ,931) (59,949) (61,500) (40 ,000) (40 ,000) (40 ,000) (40 ,000) (40,000) ,AVAIL REVENUE I (762,141)1 243 ,775 I 105,572 I 151 ,531 (__776,466 I 932 ,155 I (6,326,595)1 296 ,522 I -1------J--- INTEREST INCOME 76,778 139,657 63,543 213 ,092 106,211 113.169 96.004 75,450 BALANCE FORWARD 2,055,526 2 ,062 ,759 2,239,770 647,921 2,261,162 2 ,457,639 2 ,595 , 163 773,514 1TRANSFER TO BONO FU (2,362,059) --- !LOAN -GENE~AL FUND I -I I 500,000 I (522,917)1 I NEW DEBT 1,475 ,000 6,952,635 9, 110,000 AVAIL FUNDS 2,627,165 2,446,191 2,906,665 9,442,462 3 , 163,839 1,092.514 1,145,466 CAPITAL PROJ . I (795,712) (254, 143) (1 ,925,964) (7 , 131 ,300) (676,000) (678,000) (289,000) I - DIST SYSTEM [ (13,288) 0 (355,000) (50,000) (50 ,000) (50,000) (50,000) (50 ,oo ort=~l==l ___ 1 CONNECT FEES 44,594 47 ,722 20,000 20,000 20,000 20 ,000 20 ,000 20,000 IENDBALANCE I$ 2 ,062,759 I$ 2,239,770 I$ 647,921 I$ 2,281,1621 $ 2,457,8391 $ 2 ,5 95,163 rs-773,514 I $ 1,115,4861 I I 1oEBT SERVICE RESERVE FUND I I I I I$ -! $ 769,866 ! s 769,886 i ·---·--- TOT REVENUE I 4,157 ,729 ~,187 ,630 ~ 4,197,168 4 ,776 ,038 5,340,520~--5 ,323 ,355 5,JS0,548 --E r-- TOT EXPEND I --(-5,533,077) __ (3 ,924.225) (6,194,987) (11,4G5 ,7 66) (5 ,078.474) ~48.224) (4,863,Bs4j -------__ _ 1cOVERAGE 1.53 2 .07 2 .55 1.43 4 .09 3.72 1.72 I CASHFL03.XLS Page 1 3/11/96 10 :28 AM L ong T enn Fi n ;111c i11 ~ Opti on ~~~~~~~~E~i~t~~N%~~~~. -------J ~vE YEAFf CASH ~OJECTION---l -----__ -__ ,_ ------1--· ----- 1996 CAPITAL PROJECTS : LEE GULCH FLUME= $45,0oO;CfTYDiTCHPiPiNG_ = $5 0,000; ALLEN PLANT IMPROVEMENTS= $1 ,35 7,oo_o: ~ -i--------t--r----E·-- 1996 DISTRIBUTION PROJECTS : COOT/WINDERMERE= $275 ,000; 16" UNION MAIN= $80 ,000 . ==r I ===i . -[ ~ PROJECTED PROJECTS : COM SCHEDULE FOR ALLEN PLANT IMPROVEMENTS . SEE CDM PLANT EVALUATION REPORT. --------+--------1---------l-- ' O&M INCREASE 4 .00% INTEREST 14 .50% REFINANCE IN 1997 Rate 11TEM I I 1994 1995 1996 1997 I 1998 -1 1999 I 2000 -1 2001 Increase Actual Estimated Budget Projected Projecte<Jl--Pro]ected Projected_l ___ Projected--Year Annual Cumul. REVENUE WATER sALEs L ____ n ---3:0s0,592l $ 2.079,731 T -$ --3:000 .000 I $ · --3:135.ooa I ~---=--:-~.~~~~~~ 1~~=---3.a~~~~-I $ --4 ,157 .40 0 Is -----·4;1 57.4 00 RATE INCREASE I --135,000 429,300 285 ,144 307 ,956 -166,296 1998 --~::;I =-i= ---~H~~ 8 .00 %1 28 .31% 3,080,692 3,135 ,ooo I 3,564 ,300 I 3,849 ,444 I 4 ,157,400 I 4,157 ,400 I 4 ,323,696 2,879 ,731 1999 6.00% I 38 .58 % RAW WATER ---=1 867,645 872 ,078 8~3 ,6451 883 ,645 OTHER -----_______ 4_2,_04_3_ 174 ,900 45,000 _ 45 ,000 I 954,950 45 ,ooo ~4 ,9 ?o I 954 ,950 45,00 0] 45,000 1,002 ,697,~000 0 .00%1 36 .5~~ 45,000 2001 4 .00%r44:1 2% ""'c"'1TY~o=1=Tc=H,..,---' 43,977 73,542 50,000 50,000 50 ,000 50,000 I 50 ,000 50 ,000 TOTAL REVENUE -i-4 ,034,357 1 4,000 ,251 I 4 ,113,645 1 4,542 ,945 1 4,899 ,394 i 5,207 ,350 I 5,207 ,350 I 5,421 ,393 j O&M (NO DEPR) I _I __ (2 ,678 '.~~!, (3,072 ,762), (3 ,305,950),_ (3 ,436 ,188)1 (3.?7 5 ,?!~1, (3 .?!~·?~4)1 (3 ,867,494) FRANCHISE TAX r r (92,421) (86,394) (94 ,050) (106,929) (115 ,483) (124 ,722) (124 ,722) (4 ,023 .. ~~~4--1 -···- {129,711) NET OPER. 1---1 1,263,2231 841,095 I 713 ,645 I 997 ,8281 1,208 ,195 -1 1,363,8 831 1,215,134 I 1,269,488 1 t---4--- DEBT SERV PRINCIPAL (1,790 ,000) (470 ,000) (505 ,000) (500 ,000) I I INTEREST (95 ,426) (67 ,371) (41,573) (12 ,500) 1FUTURE DEBT I -I (390 ,165),. (520 ,220)1 (645,220)1 (645 ,595)1 (644 ,765)1---l I ROUT CAP REPLACE (66,931) (59,949) (61 ,500) (40 ,000) (40 ,000) (40 ,000) (40 ,000) (40 ,000) !INTEREST INCO~E Im 76 ,776 I 139 ,657 I 63 ,543 I 187 ,097 I 96 ,7 30 65,306 90 ,649 97,362 ,AVAIL REVENUE I L-(711,136)1 243 ,775 1 105,572 I 55 ,163 1--64 7,975 1 476,663 I 329,539 I 364 ,703 1---l • I BALANCE FORWARD 2 ,055 ,526 2,062 ,759 2,239 ,770 647 ,926 1,365,661 -1 1,406 ,566 1 1,067,679 1 1,163,723 1--I GENERAL FUND LOAN 500 ,000 (522 ,917) NEW BONDS 1,475,000 8 , 159,892 ,AVAIL FUNDS I I 2,896,170 I 2,446 ,191 I 2 ,908 ,665 1 6,527 ,161 I 2 ,112 ,566 j__ 1,975 ,679 1 1,462 ,7231 1,645 ,786 _,---l---+----- CAPITAL PROJ . (666 ,717) (254 ,143) (1 ,925 ,95 9) (7, 131 ,300) (676 ,000 ) (6 76,000) (269 ,000) DIST SYSTEM (13 ,266) 0 (355,000) (50 ,000) (50,000) (50,000) (50,000) (50 ,000) CONNECT FEES 44,594 47,722 20 ,000 20 ,000 20,000 20 ,000 20,000 20 ,000 END BALANCE $ 2,062 ,759 I $ 2,239 ,770 I $ 64 7 ,9 26 I $ 1,365 ,661 i$-1,406 ,566 ·1-$---1,067 ,8 79 l $---1,163 ,72 J I $---1,G1S,78 B 1------1 ---1--- DEBT S ERVICE R,ESERVE F U~D I I m m ]$ 8:22 ,53() ! $ 82 2,53() I $ --822,5 30 ! $ 822,530 I $ 822 ,53 0 : 1-----1---- TOTREVENUE I I 4,157,729 ~ 4 ,187 ,630 I 4 ,19 7,100 1 4 ,750 ,042 I 5,oi 8,124 r::==5,3 17,999 5)12,6551 5,5 38,755 ~~~~~~~o::.=-_ -~ ·---=---=-~~-~-=j~~3 f.~~I ==-_@.924f~~ ==--(6 . 1 ~;~> ~-=-::.. (11,562 11_~~+=----=-~0 .s~j [;~i ~---_ (5 ,531 ;~~-~---rs.o~~f~~ ==:::"i~,i~1~~i c_ _-:-_ f-·----'·----- COELONG.XLS Page I 3/1 1/96 I 0 :29 AM PuBuc FINANCIAL.MANAGEMENT, INC. Financial and Investm ent Advisors IDS Center. Suite 1920 80 South Eighth Street Minneapolis , MN 55402 612-339-7909 (Fax) 612-339-8141 Mr. Stewart Fonda Director of Utilities City of Englewood 3400 South Elati Englewood, CO 80110 RE : Planned Water System improvements Dear Stewart: March 9, 1996 Over the last several weeks, Public Financial Management, Inc. (PFM) has worked with City staff to review financing alternatives for the planned improvements to the City's water treatment and distribution system. The capital projects are expected to require approximately $10,900,000 in expenditures between 1996 and 2000. Based on PFM' s review of the recent trend of financial performance and based on projections of future operating cashflow, PFM and City staff have developed two alternative capital financing plans for consideration by City officials. Both plans are financially feasible based on comparable adjustments to water rates and charges proposed for mid-1996, and January of 1997, 1998 and 1999 . Following a brief review of financing and credit considerations, both plans are presented and compared. While a final decision on the financing plan does not have to be made until late 1996 or early 1997 when the substantial portion of construction will be bid, rate increases do need to be implemented as soon as possible . Financial Planning and Credit Considerations When developing a financing plan for major enterprise fund capital projects, PFM evaluates the most recent financial performance and constructs a model to project future cashflow in order to better evaluate the potential rate implications of alternative debt structures. Generally, the credit rating agencies expect to see cashflow available for debt service in the range of 1.50 to 1.75 times . That is, annual cashflow after payment of operating and maintenance expense should provide a minimum of $1 .50 for every $1.00 of debt service. Monies generated in excess of the actual debt service requirement are used to fund ongoing capital outlays and replacements, to fund transfers to the City general fund and to fund balances for adequate working capital and other reserve requirements. The extent to which rate increases are necessary to demonstrate these coverages will also be considered by rating agencies. PFM generally recommends maintaining a working capital reserve equal to 20-25% of budgeted operating and maintenance expenses, excluding depreciation. In addition, a debt reserve equal to the lesser of 10% of bond par or average annual debt service should also be established at the time of the issuance of the revenue bonds . To develop the most cost effective financing program and to minimize future rate increases, PFM has analyzed the opportunity to utilize a combination of funds on hand, cashflow during construction and debt proceeds to fund project costs . Implementing required rate increases early and use of interim AtJanta Austin Boston Dallas Fort Myers Harrisburg Memphis Minneapolis Newport Beach Orlando Philadelphia Pittsburgh San Francisco Mr. Stewart Fonda City of Englewood, CO. March 9, 1996 Page 2 financing would provide additional cash resources, thus reducing the amount of debt financing and possibly reducing long-term annual debt service. The two financing plan options reflect our consideration of these opportunities to minimize the rate impact on City water customers. Financing Plan Options PFM and City staff have analyzed two approaches to financing the planned improvements. The first approach is the issuance of long-term water revenue bonds in the Spring of 1997 once design is completed and project costs are bid. The second option involves the issuance of short-term or interim financing for approximately three years followed by the issuance of long-term debt. Long-Term Debt Option --Exhibit 1 and lA presents a cashflow model, sources and uses of funds, and projected debt service for twenty year $9 ,325,000 Water Revenue Bonds issued March, 1997 . The cashflow model reflects a 9 .0% increase to rates and charges July 1, 1996, January 1, 1997 and then 8 .0% increases January 1, 1998 and 1999. The City would use a $500,000 interfund loan to supplement water enterprise funds to finance the 1996 design fees and other capital outlays. In early 1996 the three year actual financial performance demonstrates an average annual cashflow available for debt of $1, 188,347 and coverage of 1.4 times projected debt service below the targeted range for "A" credits. The general fund loan would be repaid with interest in 1997 from long-term debt proceeds. The scheduled rate increases result in debt service coverages in the 1.60 to 1.80 target ranges and provide strong cash balances. Because the debt coverages do depend on future rate increase, PFM has budgeted monies for bond insurance in the sources and uses of funds. We have estimated an insurance premium of $64,531 . The purchase of insurance would be necessary to enhance marketability . Interim Financing Option --PFM has also analyzed the use of interim financing for the scheduled projects. The use of short-term financing gives the enterprise fund more time to demonstrate the ability to generate higher levels of cashflow and a stronger credit position before permanent financing is issued . Use of short-term financing should also allow the water enterprise fund to accumulate additional cash to help fund the capital costs, thus reducing the amount of long-term debt required. While this benefit is valuable, the use of short-term financing does expose the City to some market risk on the cost of the long-term debt and does require two debt issuances and the costs associated with two debt issuances. PFM has therefore analyzed this option using three alternative interest rate assumptions for the long-term debt. The short-term coupon rate is assumed at 4.30% for all options, and Exhibit 2 presents the interim note issuance of $9 ,110,000 . Exhibit 3 and 3A show the cashflow, and Series 2000 Revenue Bonds assuming interest rates in 2000 are comparable to the interest rates projected in the long-term debt option. The City would issue $7,700,000 in Series 2000 Water Revenue Bonds. The final maturity of these bonds would be 2016, the same as in the long-term bond option. The City is able to accumulate additional cashflow to fund project expenses such that the long-term average annual debt service is reduced to $740,000 . Exhibit 4 shows the resulting cashflow model and Exhibit 4A the long-term debt assuming long-term rates are on average 40 basis points higher in 2000 . The average annual debt service increases to $772 ,000 . Exhibit S and SA reflect long-term rates approximately 100 basis points higher in 2000 as compared to the rates use in 1997 for the long-term debt model. Average annual debt service is projected at $802 ,000 . Mr. Stewart Fonda City of Englewood, CO. Comparison of Alternatives The costs of the financing options are compared as follows: Long-Term Average Annual Debt Debt Service Long-Term Option $9,325,000 $845,000 Interim Option Comparable Rates $7,700,000 $740,000 Rates @ +40 Points 7,730,000 772,000 Rates @ + 100 Points 7,765,000 802,000 Future Value Cost $16,244,963 $13,406,188 13,887,188 14,283,410 March 9, 1996 Page 3 Present Value Cost $8,983,500 $7,425,615 7,425,615 7,670,916 While the interim financing model does expose the City to future market risk, it does remain an attractive financing alternative even if interest rates are 100 basis points or 1 % higher in 2000 as compared to 1997. If interest rates are in excess of 150 basis points higher in 2000 as compared to 1997, the interim financing model would be less attractive than the issuance of long-term debt in 1997 . If interest rates remain relatively stable or rise in the 50 to 100 point rages, the interim financing model would enable the City to potentially lower long-term annual debt service by $40,000 to $100,000 annually thus reducing future pressures for additional water rate increases. Both the long-term and interim options do require the same rate increases in 1996 through 1998. If interest rates are favorable, lower rate adjustments in 1999 and thereafter would be required for the interim model. Considerations and Recommendations Given the comparable rate requirements, PFM recommends that the City proceed with implementing the rate increases as shown through 1999. The City does not need to decide on the final financing plan until early in 1997. At that time we will have better project costs estimates, and we will be able to evaluate the opportunities presented by interest rates at that time . We can also refine our analysis on issuance and insurance costs and incorporate actual year end 1996 financial performance into our planning model. Based on the outcome of these factors, the City will be in a good position to make informed decision regarding the best option for the planned system improvements . PFM will continue to work with City staff to monitor financial performance and update the models as appropriate. PFM welcomes the opportunity to assist the City implement a cost-effective financing plan for this project. Very Truly Yours, ()Q_~ ~~&_,uj2. v ~' Jeanne Frederick Vanda Managing Director JFV :cs Enclosures cc : Doug Clark, City Manager Frank Gryglewicz, Director of Financial Services CITY OF ENGLEWOOD, COLORADO Water Utility Financial Planning Rate Increase Assumptiom Required Increases lo Waler Sales Long Tenn Financing Option (Cash Flow Excludes Depre ciation) Water Revenues Generated Budgeted Water Sales Total Revenue Collected Operating Revenues Water Sales City Ditch Revenue Inspection Fees Raw Water Sales Other Total Opaating RtvuiutJ Operatlnc Expenses Direct System Qpcrating Costs' Soun:e of Supply Power and Pumping Purification Transmission and Distribution Total Dirut Sysltm Optroting Cosl.J Non-Oirtct System Operating Costs· Cwtomcr Accounting and Collection Personnel and Administrative Services Commodities and Contractual Services Other Total Non -Dirtct Systtm Opuati"g Costs Total Operating Expenses Net Operating Revenues Non-OperatJnc Revenues Tap Fees (aka Contributed Capital) Earnings on Investments Loss on Refundings Other Total Non-Operating Revtnuts Cash Flow Available for Debt Service Debt Suvlce Series I 994B (Current Portion) Revenue Bonds . Series 1997 Total Dtbt Suvia Debt Service Coverage Ratio Cash Flow Alter Debt Service Capital Outlays From Cash Flow Transfers of Franchise Tax Transfers to Project Fund Ntt Cash Flow Beginning Funds Available Transfers to Bond Fund Ending Funds Available Debt Service Reserve Fund Project Fund Beginning Balance Note or Bond Proceeds Actual 29.500% Proposed 33.250% Through 1999 1993 $3.037 .957 SJ.037 .957 18 .853 931.464 Q $3 .988.274 $868.712 488.631 744.032 J2l.ll:42. $2.422.424 $253.238 433.043 ~ $775,187 $3,197.611 $790,663 $50.755 81.266 :lll.J..2.J. $162.212 $952,875 $516.380 Q $516.380 1.85 $808 .355 1994 SJ.080.692 $3.080.692 43.977 4.594 867 .645 Q $3 .996.908 $702.351 484.590 469.322 l2llBll Sl.980.243 $212.483 306.486 129 ,250 Q $648 .219 $2.628.462 $1.368.446 $42.988 78 ,778 (31.970) ~ $128.851 $1,497 .297 $509.115 Q $509,115 2.94 $988.182 968.938 92.421 2.055.528 Increase lo U & M Interest on Balance 1995 $2.879.731 $2 .879 .731 73.542 872.078 11.Wi $3.843.297 $787 .021 501.547 656,629 !l2l.ll.ll $2.437 ,228 $220.209 290.238 125.087 Q $635 ,534 $3.072,762 $770,535 $47,724 139.657 0 ~ $344 .335 $1.114,870 $537.371 Q $537.371 2.07 $577.499 314.092 86.394 Q $177.013 2.062 .757 0 $2.239.770 1996 $3 .000 .000 3.135,000 $3 .135.000 50.l)(Xl 883 .b45 U.000 $4,083.645 $0 $0 $3.305.950 $777.695 $20.000 63 .543 0 mooo $613.543 $1,391.238 $546.573 Q $546.573 2.55 $844.665 416.500 94 .050 ~ ($1,591.845) 2,239 .770 0 $647.925 $0 4 .l)(Xl % 4.500% 1997 $3 .564.300 $3 .564.300 50.000 88 3.645 .l.i.!lOO $4 ,512.945 $0 $0 $3 .438 ,188 $1,074,757 $20.000 32,807 0 :lll.llQQ $82,807 Sl.157.564 $512.500 390.165 Q $902.665 1.28 $254 .899 90.000 106.929 Q $57 .970 647.925 0 $705.896 822.530 $0 8.159.892 111 /96 1/1/97 1/1/98 1998 $3 .849.444 $3 .849.444 50.000 954.950 .l.i.!lOO $4 .869 .394 $0 $0 $3 .575,716 S 1.293.678 $20.000 82 ,684 0 :lll.llQQ s 132.684 $1,426,362 520,220 0 $520,220 2.74 $906.142 90.000 115.483 0 $700,659 705 ,896 Q $1,406.554 822 .530 $659,962 Interest on Balance 0 154.289 16.046 9 .1Xl0% 9 .000% 8 .000% 1999 $4 .157.400 $4.157 ,400 50.<XJO 954 .950 .l.i.!lOO $5 .177.350 $0 $0 $3,718,744 $1.458,605 $20.000 90.649 0 :lll.llQQ $140.649 S 1.599,254 845.220 Q $845.220 1.89 $754 ,034 90.000 124 ,722 81.8.lm ($338 .688) 1.406.554 0 Sl.067.867 822.530 (SO) l/1199 111/00 1/1/01 21KIO $4 .157 ,400 $4 .157.400 50.CXXI 954.950 .l.i.!lOO $5.177.350 so $0 $3.867 ,494 $1,309,856 S20.000 85.305 0 :lll.llQQ $135.305 $1.445.161 845.595 Q $845 .595 1.71 $599.566 90.000 124 .722 2.82.!lOO $95 .844 1.067 .867 Q $1 .163 .710 822,530 (SO) Transfer from Operating Fund ~ Q Q 81.8.lm 2.82.QOO Total Resoun:cs Sl.925 ,960 S8,314 .182 $676,008 S878,000 S289.000 Annual Capital Outlays (1.925,960) (7 ,131.303) (676.008) (878.000) (289,000) Repay General Fund Q !ll2.2.l11 0 Q Q Ending Balance SO $659,962 (SO) ($0) ($0) Chtck 2CY-t of Total Operating Expen~'i Variance Bctwcr.n Ending Ca.c:h Balance Doe.1 it meet 20 'l-Tts1 Prepared by Public Financial Managemen~ Inc . 661.190 (13 .265) No 687 ,638 18 ,258 Yes 715,143 691,411 Yes 743 .749 324,118 y,. 773.499 390,211 h• K.!Kl0% 0 .000% 4 .000% 21Klt $4 ,323 .696 $4.323.696 50.!KKJ 1.()()2 ,697 .l.i.!lOO $5,391 .393 so $0 $4,022 .194 $1 ,369,199 $20.000 97 .362 0 :lll.llQQ $147 ,362 $1.516.560 844.785 Q $844.785 1.80 $671,775 90.000 129,711 Q $452.065 1.163,710 Q $1.615,775 822 ,530 804.439 811.336 Yes 111102 1/1/03 21Kl2 $4.323 .696 $4.323 .696 50,()()() 1.002.697 .l.i.!lOO $5 .391.393 so $0 $4.183 .081 $1,208.311 $20.000 114 .018 0 :lll.llQQ $164.018 $1.372.329 847.745 Q $847 .745 1.62 $524.584 90.000 129,711 Q $304 .873 1.615 ,775 0 $1.920.648 822.530 836.616 1.084.032 Yes 0 .000% 4 .000% 2003 $4.496.643 $4.496 .643 50.000 1.002 .697 .l.i.!lOO $5 .564.340 so so $4.350.405 S 1.213 ,936 $20.000 127 .827 Cl :lll.llQQ $177.827 s 1,391.763 844 .183 Q $844.183 1.65 $547 .580 90.000 134 .899 Q $322.681 1,920.648 Q $2 ,243 .329 822.530 870.081 1.373.248 Yes EXHIBIT I 3/9/96 l.DNGTRMC.XLS CashFlow CITY OF ENGLEWOOD, COLORADO Water Revenue Financial Planning Revenue Bonds Series 1997 SOURCES Par Amount of Bonds Cash on Hand Accrued I n1crcst Total Sources USES Deposit to Construction Fund Deposit to Reserve Fund =A vg Anni Insurance Costs of Issuance & Rarjng Agency Fees Underwriters' Disoount 2.000% Accrued Interest Rounding Amount Total Uses ASSUMPTIONS Dated Date Delivery Date First lnlcrcst Payment Date o n Bonds First Principal Payment Daie on Bon<h Prepared by Public Financial Management, Inc . 9.325.000 0 0 ·------------------- 9.325.000 8.159.892 822.530 64.531 90.469 186.500 0 1.078 -------------------- 9.325.000 311197 3/1/97 1211/97 1211/99 NEW MONEY DEBT SERYICE All-lo Bi;Um:«iar: f:'2St EXHIBIT lA Annual Present Value P~scnl Value Date Principal Coupon ln1c res1 Debt Service Debi Service Facton Debt Service ------------------------------------------------·------------------------------------------------------------------------------···········---------------------------- 3/1/97 61 1197 12/1197 3.950% 390.165 390.165 390.165 0 .95554500 372.820.22 6/1198 260.110 260.110 0.92701176 241 .125 .03 12/1198 4.300% 260.110 260.110 l20.220 0 .89933054 233 .924 87 611199 260.110 260.110 0.87247589 226.939.70 12/1/99 325.000 4.50C)% 260.110 5R5.l IO 845 .220 0.84642315 495.250.65 61 1/00 252 .798 252.798 0.8 2114836 207 .584.25 12/1/00 340.000 4.650% 252 .798 592 .798 845 .l95 0.79662829 472.239.26 6/1/01 244.893 244.893 0.77284041 189 .262.82 1211/01 355.000 4.HOO<J. 244.893 599.893 844.785 0.74976286 449.777.11 611/02 236.373 236.373 0.72737441 171 .931.31 1211/02 375.000 4.950% 236.373 611 .373 847.745 0 .70565450 431.417 .76 6/1/03 227.091 227.091 0.68458316 155 .462.85 12/1/03 390.000 l .050% 227.091 617.091 844.183 0.66414103 409.835.62 6/1/04 217.244 217.244 0.64430931 139.972.17 1211/04 410.000 5.150% 217.244 627.244 844.488 0.62506978 392.071.11 611/0l 206.686 206.686 0.60640476 125 .335 .53 12/1/05 430.000 l .250% 206.686 636.686 843.373 0.58829709 374.560.67 611/06 I 9l.399 195 .399 0.57073012 111.519.95 1211/06 4l5.000 l .3lO<J. 195 .399 650.399 845.798 0.l5l68772 360.117 .80 611/07 183.228 183.228 0 .53715422 98.421.42 1211/07 480.000 5.500% 183.228 663.228 846.455 0.52111441 345.617.41 6/1/08 170.028 170.028 0.50555357 85.958.01 1211 /08 505.000 5.600% 170.028 675 .028 845 .055 0.49045739 331.072.22 611/09 155.888 155 .888 0.47581198 74 .173 .14 1211/09 535.000 5.700% 155 .888 690.888 846.775 0.46160390 318.916.37 6/1/10 140.640 140.640 0.44782009 62.981.42 1211110 565.000 5.800% 140.640 705.640 846,280 0.43444787 306.563.79 6/1/11 124.255 124.255 0.42147495 52.370.37 12/1/11 600.000 5.850% 124.255 724.255 960.628 0.40888941 296.140.20 6/1/12 106.705 106.70l 0.39667968 42.327 .71 1211/12 630.000 5 .900% 106.705 736.705 843.410 0.38483455 283 .509 .54 611/13 88 .120 88, 120 0.37334312 32.899.00 1211/13 670.000 5.9l0% 88 .120 758 .120 846.240 0.36219483 274.587 .15 611/14 68 .188 68 .18 8 0.35 137944 23 .9l9.69 1211/14 710.000 6.000% 68 .188 778 .188 846.375 0 .34088700 265.274.01 611115 46.888 46.888 0 .3l0707RR 15.506.07 1211115 750.000 6.0l0% 46.888 796.888 843.775 0 .32083271 25l.667 .58 6/1/16 24.200 24.200 0.31125242 7.532.31 1211/16 800.000 6 .050% 24.200 824.200 848.400 0.30195820 248.873.95 ----------------------------------------------------------------------------------------- 9.325.000 6.807.845 16.132.845 16 .244 .963 8 .983.500.00 Accrued Interest 0 All -In Cost= 6.155962% ----------------- 6.807.845 Di~count to : Par Amounr 9.325.000.00 Accrued Intere st 0.00 Premium/Discount 0.00 Bond In surance (64.531.JR) Underwriters ' Discount (186.500.00) Cost of Issuance (90.468.62) Discount to : 8.983.500.00 319196 LONGTRMC.XL5 Re ve nue Bonds CITY OF ENGLEWOOD, COLORADO Water Revenue Financial Planning Short Term Notes, Series 1997 Debt Service Date Principal Rate 12/1/97 6/1/98 12/1/98 611199 12/1/99 611100 12/1/00 9,110,000 4 .300% 9,110,000 Sources and Uses Sources (rounded to closest 5000 block): Uses Deposit to Construction Fund Cost of Issuance Underwriter's Discount Rounding Dated Date Delivery Date Prepared by Public Financial Management, Inc. Interest Debt Service 293,798 293,798 195,865 195,865 195,865 195 ,86 5 195,865 195,865 195,865 195,865 195,865 195 ,86 5 195 ,865 9,305,865 1,468,988 10,578,988 1.000% Annual Debt Service 293,798 391,730 391,730 9,501,730 10,578,988 9.110,000 8,952,835 65 ,000 91,100 1,065 9,110,000 3/1/97 3/1/97 Construction Fund Period Date 3/1/97 I 4/1/97 2 5/1/97 3 6/ l/97 4 7/1/97 5 811/97 6 9/1/97 7 10/1/97 8 11/1/97 9 12/1/97 10 1/1/98 II 2/1/98 12 3/1/98 13 4/1/98 14 5/1/98 15 611/98 16 711/98 17 8/1/98 18 9/1/98 19 10/1/98 20 11/1/98 21 12/1/98 22 111199 23 2/1/99 24 3/ 1/99 25 411199 26 511199 27 611199 28 711199 29 8/1/99 30 911199 31 I 011199 32 11/1/99 33 12/1/99 EXHIBIT2 Interest Earned Beg. Cash @ 4.500 % Draw End Cash 8,952,835 8,952,835 8,952,83 5 33,263 1,315,284 7,670,814 7,670,814 28,500 792.36 7 6,906.946 6,906,946 25,662 792,367 6,140,241 6,140,241 22,813 792,367 5,370,687 5,370,687 19,954 792,367 4,598.274 4,598,274 17,084 792.367 3,822,99 1 3,822,991 14,204 792.367 3,044,827 3,044,827 11,313 792 .367 2,263,773 2,263,773 8,411 792.367 1,479,816 1,479,816 5,498 56,334 1,428 ,980 1,428,980 5,3 09 56,334 1,377,956 1,377,956 5,120 56,334 1,326.741 1,326,741 4,929 56,334 1,275,336 1,275,336 4,738 56 ,334 1,223 ,741 1,223,741 4,547 56 ,3 34 I, 171,953 I, 171,953 4,354 56,334 1,119,973 l, 119,973 4,161 56.334 1,067,801 1,067,801 3,967 56 ,334 1.015,434 1,015,434 3,773 56,334 962,872 962,872 3,577 56,334 910,116 910,116 3,381 56,334 857,163 857,163 3,185 73,167 787, I 81 787,181 2.925 73, 167 716,938 716,938 2,664 73 .167 646,435 646,435 2,402 73,167 575,670 575,670 2,139 73.167 504,642 504,642 1,8 75 73.167 433 ,349 433,349 1,610 73 , 167 361,793 361,793 1,344 73 , 167 289,970 289,970 1.077 73,167 217,880 217,880 809 73 , 167 145,523 145 ,5 23 541 73 , 167 72,896 72,896 271 73, 167 0 255,397 9,208,232 3/8/96 CASHFL52.XLS Short-Term Notes CITY OF ENGLEWOOD, COLORADO Water Utility FinanciaJ Planning Interim Financing Option With Rates Comparable to Long Term Model 1crease I Assumptions Actual 29.500%,lni:rease io 0 & M Proposed 33.250% Interest on Balance Through 1999 4.000% 4 .~ Ill 111/97 9 .000% 111/00 0 .000% 111/98 8 .000% 111/01 0 .000% 111/03 .000% 0.000% (Cash Flow facludes Depreciation) 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 Water Revenues Generated Budgeted Water Sales Total Revenue Collected $3 .037.957 Operating Revenues Water Sales City Ditch Revenue Inspection Fees Raw Water Sales Other Total Optrati"g Rtvtnut:r OperaUnc Expenses Pircc:t System Operatinr Costs' Source or Supply Power and Pumping Purification Transmissi on and Distribution To1al Dirur Systtm Optroting Costs Noo-Qjrcct System Opcratjng Costs· Customer Accounting and Collection Personnel and Administrative Services Commodities and Contractual Services Other Total Non -Direct System Opuatin8 Costs Total Optrating Exptnsts Net Operatinc Revenues Non-Operadnc Revenues Tap Fees (aka Contributed Capital) Earnings on Investments Loss on Refundings Other Total Non ·Oprrating Rrvrnur.r Cash flow Available for Debt S.nice Debt Service Series 1994B (Current Portion) Notes. Series 1997 Revenue Bonds , Series 2<XJO Long Term Bonds Take-Out Total Drbt Servia Debt Service Coverage Ratio Cash flow Af~r Debt Service Capital Outlays From Cash Flow Transfen or Franchise Tax Transfer. to Project Fund Net Cash Flow Beginning Funds Available Transfers to Bond Fund Ending Funds Available Debt Service Reserve Fund Project Fund Beginning Balance Note or Bond Proceeds lnlerut on Balance Transfer from Operating Fund Total Resources Annual Capital Outlays Repay General Fund Ending Balance Check 2011. or Tott! Openuin~ Expen""s Varian« Bet.,.,'Ccn Ending Ci.i:h Balance [)~_, it meet 2(1 ~ Ttsl Prepared by Public Financial Management, Inc. S3.037 .957 18.853 931.464 0 S3,988.274 $868 .712 488 .631 744.032 ill.ll:l2 S2.422 ,424 S253.238 433.043 8..8..2!l!! S775.187 S3.197.61 I S790.663 SS0 .755 81.266 ll1..l21 Sl62.2 12 S952,875 S516,380 !l S516,380 1.85 $808.355 S3.080.692 S3.080 .692 43,977 4.594 867,645 0 S3 .996.908 $702 .351 484.590 469 .322 ill.2.8ll Sl ,980.243 $212.483 306.486 129 ,2.50 0 S648 ,219 S2.628.462 Sl.368.446 S42.98K 78.778 (31.970) 3.2.ll.U Sl28.851 Sl ,497,297 $509 .115 Q S50'J .l 15 2.94 S988 ,182 968 ,938 92 .421 2.055.528 S2 .879.73 I $2 ,879 .731 73.542 0 872.078 .l1.2.4n S3 ,843.297 S787 .021 501.547 656 .629 fil.oJl $2 .437 .228 S220 .209 290.238 125.087 0 $635 .534 S3,072 .762 S770.535 S47.724 139.657 () ~ $344.335 Sl.114.870 S537 .37 I 0 S537 ,37 I 2.07 $577.499 314,()<)2 86.394 0 Sl77,013 2,062 .757 !! S2 ,239.770 S3.000 .000 3.135.000 $3.135.000 50.000 883.645 WlOO S4.083.645 so so S3,305.950 S777,695 S20 ,000 63.543 0 ~ S6 I 3,543 S 1.391 ,238 S546 ,573 !l S546 ,573 2.55 $844,665 416.500 94 .050 .l..22.L2© (SI ,591,845) 2.239.770 !l $647.925 so .l..22.L2© Sl,925.960 (1.925.960) 0 so 661.190 (13,265) No S3.564 ,300 S3.564.300 50.000 883.645 WlOO S4,512,945 so so $3.438.188 Sl ,074.757 S20.000 31.891 0 :io.ooo S81.891 Sl ,156.648 S512.500 293,798 Q S806,298 1.43 $350.351 90.000 106.929 !! Sl53.422 647 ,925 0 $801.347 so 8.952.835 181.201 0 $9,134.036 (7.131 .303) LU.2.2111 $1,479,816 687.638 113 .709 Yes $3,849.444 $3.849.444 50,000 954.950 WlOO S4,869,394 so so S3 ,575.716 S 1.293,678 S20.000 52.856 0 :io.ooo s !02.856 S 1.396 ,535 $391.730 0 S391.730 3.57 Sl ,004,805 90 .000 115.483 0 S799.321 801.347 !! Sl.600.668 Sl.479,816 53.355 0 S 1.533.171 (676.008) 0 S857,163 715,143 885 .525 Yes S4 .157 .400 $4,157.400 50.IXXJ 954,950 WlOO S5 .177 .350 so so $3,718 .744 Sl.458.605 $20.000 92.329 0 :io.ooo S 142 ,329 Sl.600.934 $391.730 0 S391.730 4.09 Sl ,20'J,204 90.000 124.722 0 $994.482 1.600.668 0 S2.595. I 50 S857 ,163 20,841 0 S878 ,004 (878.004) 0 so 743 ,749 1.851,401 Yt< $4,157,400 $4.157.400 50,000 954.950 WlOO S5.177 ,350 so so S3 ,867.494 SI ,30'J ,856 S20.000 95.226 0 :io.ooo Sl45,226 Sl ,455 .082 S9 ,501.730 so !2..illLll!lQ1 $391.730 3 .71 S 1.063.352 90.000 124 .722 2.1!2.llOO S559.630 2,595 ,150 !2..lli..llil S773.499 S740,242 so 2.1!2.llOO $289,000 (289.000) 0 so 773.499 0 Yt< S4.157.400 S4,l 57 .400 50,000 1.002.697 WlOO S5.225,0'J7 so $0 S4.022.194 Sl ,202,903 S20.000 68 .814 0 :io.ooo SI 18 ,814 Sl.321.717 $739.643 0 S739,643 1.79 $582.075 90.000 124,722 0 $367,353 773.499 0 Sl .140.852 S740,242 804.439 336,413 y.,. S4 .323.696 $4.323.696 50.000 1,002.697 WlOO S5.391.393 so so S4, I 83,081 s 1.208.311 $20.000 77.804 0 :io.ooo S 127 ,8 04 Sl ,336,115 S740,668 0 S740,668 1.80 S595.448 90.000 129.711 0 S375.737 1.140.852 0 Sl ,516.588 S740.242 836.616 679.972 Yes S4.323.696 S4.323.696 50.000 1.002.697 WlOO $5.391.393 so so $4.350.405 Sl.040.988 $20.000 87,011 u :io.ooo Sl37.01 I Si.177.999 S740,368 0 S740,368 1.59 S437 .63 I 90.000 129 .71 1 0 S217.920 1.516 .588 Q S l.734.50'J S740.242 870.081 864.428 y.., EXHIBIT 3 318196 CASHFL52.XLS CashAow CITY OF ENGLEWOOD, COLORADO Water Revenue Financial Planning Revenue Bonds, Series 2000 SOU RCES Par Amount of Bonds Cash on Hand Accrued Interest Total Sources USES Long-Term Bond Take Out Deposit 10 Reserve Fund =Avg Anni Costs of Issuance 3.000 % Accrued Interest Rounding Amount Total Uses ASSUMPTIONS Dated Date Delivery Date Firs! Interest Payment Date on Bonds First Principal Payment Date on Bonds Prepared by Public Financial Management, Inc . 7,700,000 2.381,281 0 ---------------------- 10 ,081 ,281 9,110,000 740,242 231,000 0 39 ---------------------- 10,081,281 1211100 1211/00 611101 1211/01 NEW MONEY DEBT SERVICE Annual EXHIBIT 3A Date Principal Coupon Interest Debi Service Debt Servi ce ----------------------------------------------------------------------------------------------------------------------------------------- 611100 1211100 611/01 207 ,321 207,321 1211/01 325.000 4.300 % 207 ,321 532 ,321 739,643 611/02 200 ,334 200,334 1211/02 340,000 4 .500 % 200 ,334 540,334 740,668 611/03 192 ,684 192,684 1211/03 355,000 4 .650% 192,684 547 ,684 740,368 611104 184 ,430 184,430 1211/04 370,000 4 .800% 184 ,430 554 ,430 738,860 611105 175,550 175,550 1211105 390,000 4 .950% 175,550 565 ,550 741,100 611106 165,898 165,898 1211106 410 ,000 5 .050 % 165 ,898 575 ,898 741.795 611101 155,545 155,545 1211/07 430,000 5 .150% 155,545 585 ,545 741 ,090 611108 144,473 144,473 1211108 450,000 5.250% 144 ,473 594,473 738 ,945 611109 132.660 132.660 1211109 475,000 5.350% 132,660 607 ,660 740,320 611110 119 ,954 119 ,954 1211/10 500 ,000 5.500 % 119,954 619,954 739,908 611/11 106.204 !06,204 1211111 525,000 5 .600% 106,204 631.204 737,408 611/12 91 ,504 91,504 1211/12 555 ,000 5 .700% 91,504 646,504 738,008 611113 75,686 75,686 1211/13 590,000 5.800% 75,686 665,686 741 ,373 611114 58,576 58.576 1211/14 625,000 5 .850% 58,576 683 ,576 742.153 611/15 40,295 40,295 1211/15 660,000 5.900% 40,295 700,295 740,590 611116 20,825 20 ,825 1211/16 700,000 5.950% 20.825 720,825 741,650 --------------------------------------------------------------------------- 7,700,000 4, 143 ,875 11.843,875 11,843,875 Accrued Interest 0 ------------------- 4,143,875 3/8/96 CASHR..52.XLS Revenue Bonds CITY or ENGLEWOOD, COLORADO Water Uti lity Financial Planning Interim Financing Opti on (Cash Flow Excludes Depreciati on) Water Revenues Generated Budgeted Water Sales Total Revenue Collected Operating Revenues Water Sales City Ditch Revenue Inspection Fees Raw Water Sales Other Total Opuating Revenuu Operating Expenses Oiccc1 Sxs1cm QQS:ca1io& Costs · Source of Supply Power and Pumping Purification Transmission and Distribution Total Direct Sysum O~rating Costs t:ion ·Dir~J S)'.slcm 0'2'r:aLio& Casis · Customer Accounting and Collection Personnel and Administrative Services Commodities and Contractual Services Other Total Non-Direct System O~rating Cos/5 Total Operating ~nus Net 0Eerating Revenues Non-Operating Revenues Tap Fees (aka Contributed Capital) Earnings on In vestments Loss on Refundings Other Total Non -Operating Rt!vt!nuts Cash Flow Available for Debt Service Debt Service Series I 994B (Current Portion) Notes, Series 1997 Revenue Bonds . Series 2000 Long Term Bonds Take-Out Total Dtbt Strvict Debt Service Coverage Ratio Cash Flow After Debt Service Capital Outlays From Cash Flow Transfers or Franchise Tax Transfers to Project Fund N<t Cash Flow Beginning Funds Available Transfers to Bond Fund Ending Funds Available Debt Service Reserve Fund Project Fund Beginning Balance Note or Bond Proceeds Interest on Balance Transfer from Operating Fund Total Resources Annual Capital Outlays Repay General Fund Ending Balance ChL'Ck 20't of Total Opcra1ing Exp<n<es VAiiance Between Ending Ca.sh Bulau ce Docs ii meet 20 % 1'c:ot Prepared by Public Financial Management, Inc. Rate Increase Actual 29.500% Proposed 33.250% Through 1999 1993 1994 S3,037 ,9 57 $3,080,692 S3 ,037,957 S3,080,692 43 ,977 18 ,8 53 4,594 931.464 867,645 u Q S3 .988,274 S3 ,996.908 S868,712 S702,35 I 488 ,63 1 484.590 744,032 469,322 :l2lM2 121.2l!Q S2,422,424 Sl ,9 80 ,243 S253 ,238 S2 I 2,483 433 ,043 306.486 129 ,250 lIB.206 Q S775,187 $648.219 S3 .197,61 I S2 .628,462 S790,663 s 1,368,446 S50 .7 55 S42,9R8 81,266 78.778 (31.970) :lll..l2l J.2..llll Sl62,2 12 s 128,85 1 S952,875 Sl,497.297 S516,380 S509,115 Q Q S516,380 S509,115 1.85 2.94 S988, 182 S808 ,35 5 968,938 92,421 2 .055 ,528 As.sumptions Increase to 0 & M 4.000% Intere st o n Balance 4.500% 1995 1996 1997 S3,000.000 $2,879,731 3, 135,000 S3,564 ,300 S2.879,73 I $3,135,000 $3,564,300 73,542 50,000 50,000 0 872,078 883 ,645 883,645 J.1.ill .wJQQ U.000 S3.843,297 $4,083.645 S4,5 I 2,945 S787.02 I 501,547 656.629 ill.lll.l S2,437,228 so so $220,209 290,238 125,087 Q S635,534 so so S3,072.762 S3.305,950 S3,438, 188 S770,535 S777 ,695 Sl.074,757 S47.724 S20.000 S20,000 139 .65 7 63,543 31,891 0 0 0 ~ l1ll.OOQ :lll.000 S344,335 S613,543 S81.891 Sl ,114,870 Sl,391 1238 Sl,156,648 S537,37 I S546.573 S512,500 293,798 Q Q Q S537,37 I S546.573 S806,298 2.07 2.55 1.43 $577 ,499 S844 .665 S350,3 5 I 314,092 416 ,500 90,000 86,394 94,050 106,929 Q L.2.2.S.260 Q Sl77.013 (Sl,591.845) Sl53.422 2.062,757 2,239,770 647,925 Q Q Q S2.239.770 S647 ,925 S801,347 so so 8,952,835 181 ,201 L.2.2.S.260 Q Sl,925,960 $9, 134 ,036 (1,925, 960) (7,131,303) Q U22..2.lll so Sl,479,816 661,190 687.638 (13,265) 113 ,709 No Yes Required Increases to Water Sales 111196 9 .000% 1/1199 8.000% 1/1102 4.000% 1/1/97 9.()()()% 1/1100 0 .000% 111103 0 .()()()% 1/1198 8 .000% 1/1/01 0.000% EXHIBIT4 1998 1999 2000 2001 2002 2003 S3 ,849,444 S4,157,400 $4 , 157 ,400 $4,157,400 S4,323,696 S4,323,696 S3,849 ,444 S4,157,400 S4, 157,400 S4,157,400 $4,323 ,696 $4,323,696 50.000 50,000 50,000 50,lXJO 50.000 50,()()(l 954.950 954,950 954,950 1.CJ02 .697 1.002 .697 1.002,697 U.000 U.000 U.000 ll.ll!lll ll.ll!lll ll.ll!lll S4.869,394 SS.177 ,350 SS, 177.350 $5.225.097 SS,391.393 SS.391.393 so so so so so so so so so so so $0 S3,575,7 I 6 SJ.718,744 S3.867,494 S4 .022.194 S4.183.081 $4,350,405 Sl ,2 93 ,6 78 s 1,458,605 Sl ,309,856 Sl,202,903 Sl,208,311 Sl.040.988 S20,000 $20.000 S20 .000 S20.000 S20 .000 $20,000 52,8 56 92,329 96,004 70 ,148 78,448 86,951 0 0 0 0 0 0 :lll.000 :lll.000 :lll.000 :lll.000 :lll.000 :lll.000 SI02,856 s 142 ,329 Sl46.004 Sl20,148 s 128.448 s 136 ,95 t s 1,396,535 Sl,600,934 s 1,455 ,860 Sl ,3 23,051 Sl,336,759 Sl ,177 ,939 S391,730 S391,730 S9 .50 1.730 so S771.660 S772.580 S772.170 Q Q !.2..llll..OO!l Q Q Q S391,730 S391 .730 S391 ,73 0 S771.660 S772.580 S772.170 3.57 4.09 3.72 1.71 1.73 1.53 Sl ,004,805 Sl ,209 .204 Sl,064.130 S55 l.391 S564 , 179 S405,769 90.000 90,000 90,000 90.000 90,000 90.000 115,483 124,722 124,722 124.722 129,711 129 ,711 Q Q 2.B.2.!!00 Q Q 0 S799 .32 1 S994,482 S560,408 S336.669 S344 ,468 s 186.058 801,347 1,600,668 2,595, 150 773,499 1,110,168 1.454 .636 Q Q L2..1R2.llW Q Q Q Sl,600,668 S2.595 .150 S773,499 Sl ,110 ,16 8 s 1,454.636 Sl.640,694 S769,886 S769,886 S769,886 S769,886 SI ,479,816 S857 , 163 so 53,355 20,841 Q Q 2.B.2.!!00 Sl ,533,171 S878 ,004 S289 .000 (676,008) (878,004) (289,000) Q Q Q S857,163 so so 715 , 143 743,749 773 ,499 804.439 836,616 870.081 885 ,525 1.851,401 0 305,729 618.020 770 ,613 Ye.~ y.,,. Yes Yes \'e."li "~ 318196 CASHFL51.XLS CashFlow CITY OF ENGLEWOOD, COLORADO Water Revenue Financial Planning Revenue Bonds, Series 2000 SOURCES Par Amount of Bonds Cash on Hand Accrued Interest Total Sources USES Long -Term Bond Talce Out Deposit to Reserve Fund Costs of Issuance Accrued Interest Rounding Amount Total Uses ASSUMPTIONS Dated Date Delivery Date =Avg Anni 3.000 % First Interest Payment Date on Bonds First Principal Payment Date on Bonds Prepared by Public Financial Management. Inc. 7,730,000 2,382,059 0 JO.I 12,059 9,110,000 769 ,886 231 ,900 0 273 10 ,J 12,059 I 211 /00 1211/00 611/01 1211/01 NEW MONEY DEBT SERVICE Annu al Date Principal Coupon Interest Debt Service Debt Se rvi ce EXHIBIT4A ------------------------------------------------------------------------------------------------------------------------------------------ 611/00 1211/00 611101 225,830 225,830 1211101 320,000 4 .400 % 225,830 545 .830 771 .660 611/02 218 ,790 2 I 8 ,790 1211102 335 ,000 4 .600% 218 ,790 553 ,790 772.580 611/03 211,085 211 ,085 1211103 350,000 4 .700% 211,085 561.085 772.170 611/04 202,860 202,860 1211/04 365,000 5.000 % 202 ,860 567 .860 770,720 611/05 193,735 193,735 1211/05 380,000 5.250 % 193 ,735 573,735 767 .470 611106 183,760 183 ,760 1211106 400 ,000 5.400% 183 ,760 583,760 767,520 611101 172 ,960 172,960 1211107 425 ,000 5.600% 172,960 597,960 770,920 611/08 161 ,060 161,060 1211108 450,000 5.8 00% 161 ,060 611 ,060 77 2.120 611/09 148 ,010 148,010 1211/09 475,000 6 .000 % 148 ,010 623 .010 771 .020 611/10 133 ,760 I 33 ,760 1211110 500,000 6 .000 % 133,760 633,760 767.520 61111 I I 18 ,760 I 18 ,760 121111 I 530 ,000 6 .100% 118 ,760 648.760 767,520 611112 102.595 102 ,595 1211112 565 ,000 6 .2 00% 102,595 667,595 770.190 611/J 3 85 ,080 85 ,080 1211/13 600.000 6 .300% 85 ,080 685,080 770,160 611/14 66,180 66,180 1211/14 635,000 6.400% 66,180 701.180 767 ,360 611/15 45 ,860 45,860 1211/15 680.000 6 .500% 45 ,860 725 .860 771.720 611116 23 ,760 23,760 1211116 720,000 6.600 % 23 ,760 743,760 767 ,520 -------------·------------------------------------------------------------- 7,730,000 4 ,588. 170 12 ,318.170 12 .318,170 Accrued In terest 0 ------------------- 4,588, I 70 3/8196 CASHFL5 I.XLS Revenue Bonds CITY OF ENGLEWOOD, COLORADO Water Utility Financial Planning Interim Financing Opti on Interest Rate Sensitivity Analy sis (Cash Flow Excludes Depreciatio n) Water Revenues Generated Budgeted Water Sales Total Revenue Collected OperatJnc Revenues Water Sales City Ditch Revenue Inspection Fees Raw Water Sales O!her Total Operating Rtvtnuts Operadng Expenses Direct System One@ting Costs' Soum: of Supply Power and Pumping Purification Transmi.ssion and Dlstribution Total Dirtct Sy.rum Opua1in1 Co .us Non-Direct System Onerating Costs· Cwtomer Accounting and Collection Personnel and Administrative Services Commodities and Conrrac!Ual Services Other Total Norr -Dirtct Systtm Optrating Costs Total Opuating Expt!Ut.J Net OperatJnr: Revenues Non·OpenitJnc Revenues Tap Fees (aka Contributed Capital) Earnings on Jnvestment5 Loss on Refundings O!her Tora/ Non -Opuating Rt.vt.nuu Cash Flow A vallable lor Debt S.nice Debt Service Serie• 1994B (Curren! Portion) Nores. Series 1997 Revenue Bonds . Series 2CXX> Long Term Bonds Talce·Ou! Total Dt.bt Suvice Debt Service Coverage Ratio Cash Flow Airer Debt Service Capital Outlay• From Cash Flow Transfers of Franchise Tax Transfers to Project Fund Nt.t Ca.rh Flow BegiMing Fund\ Available Transfers to Bond Fund Ending Funds Available Deb! Service Reserve Fund Project Fund Beginning Balance Nore or Bond Proceeds Jntere.\t on Balance Transfer from Operating Fund Total Resources Annual Capital Outlays Repay General Fund Endin~ Balxnce Check 20% ofTo t1l Qreraring Expen.es V1ri11ncc Bc1"'("en Ending Ca.~h Balance D ~~" it meet 20 'l: Tcs1 Prepared by Public Financial Managemen~ Inc. nc:rease I As.sumptions AcfoaJ -29.SOO'X>jlncre& fo o & M Proposed 33.250% Inreres! on Balance Through 1999 1993 S3 .U37 .957 S3 .037 .957 18 .853 931.464 Q S3 .988 ,274 $868.712 488.631 744.032 J.ll.lM2 $2,422,424 $253.238 433.043 ill1lJQ S775 .187 S3 .197 .61 I $790.663 S50,755 81.266 Jll..l.2.l $162.212 S952.875 $516.380 !l $516.380 1.85 $808.355 1994 S3 .08U .692 S3.080.692 43 .977 4 .594 867 .645 Q S3.996 .908 S702 .35 I 484 .590 469.322 ill.2.8ll s 1.980.243 $2 12.483 306.486 129 ,250 Q $648.219 $2,628.462 Sl.368.446 S42 .988 78.778 (31 .970) J2.ll.U s 128.851 s 1.497 ,297 $509.115 Q S509.115 2.94 $988.182 968.938 92.421 2,055.528 1995 S2 .879.731 $2 .879.731 73 .542 0 872.078 ~ S3.843.297 S787 .U21 501 ,547 656.629 ill.ll.ll $2,437 .228 S220.2 09 290.238 125 .087 Q S635.534 S3 .072.762 S770.535 $47 .724 139 .657 0 .ill.lli $344.335 Sl.114.870 S537 .37 I Q S537 .37 I 2.07 $577,499 314,092 86.394 Q Sl77.013 2 ,062,757 Q $2,239.770 1996 S3 .000.000 3 ,135 .000 S3 .135 .000 50.000 883.645 ll.llOO S4 .083 .645 so so S3 .305.950 $777 .695 S20 .000 63.543 0 ,jJll.lm $613.543 s 1.391.238 S5 46,573 !l $546.573 2.55 S844 .665 416.500 94.050 ~ (S 1.591 .845) 2.239 .770 !l S647,925 so ~ Sl,925.960 (1.925 .960) Q so 661.190 (13.265) No 4 .000% 4 .500% 1997 S3 .564.300 S3 .564 .300 50.000 883 .645 U.000 S4.512.945 so so S3.438 .188 s 1,074,757 S20.000 31.891 0 3ll.OOQ S81.891 Sl.156 ,648 $512 .. 500 293 ,798 Q S806.298 1.43 S350,351 90.000 106.929 Q s 153.422 647 .925 Q S801.347 so 8.952.835 181 .201 Q $9,134.036 (7,131.303) U2lll1.l Sl,479.816 687,638 113 .709 Yes 1196 1/1/97 1/1/98 1998 S3.849.444 S3 .849 .444 50 .000 954.950 U.000 S4.869 ,394 so so S3.575.716 s 1.293 .678 $20.000 52 .856 () 3ll.OOQ s 102,856 s 1.396 ,535 $391 .730 Q $391.730 3.57 Sl.004.805 90.000 115.483 Q $799.321 801 .347 Q Sl .600.668 Sl.479.816 53 .355 Q Sl.533.171 (676.008) Q $857,163 715.143 885.525 Yes 9 .000% 9.000% 8 .000% 1999 $4,157 .400 S4 ,157.400 50.000 954 ,950 U.000 $5,177 ,350 so so $3,718 .744 s 1.458 ,605 $20.000 92.329 () Jll.00!! s 142.329 s 1.600.934 $391.730 Q $391.730 4.09 Sl.209.204 90.000 124,722 Q $994.482 1.600.668 Q S2.595.150 $857.163 20.841 Q S878.004 (878.004) Q so 743.749 1.851.401 '"' equa 1/1/00 1/1/01 2000 $4.157 .400 $4 ,157.400 50.000 954.950 U.000 S5 ,177 ,350 so so S3.867.494 $1 ,309,856 S20.000 96.818 I) Jll.00!! Sl46,818 Sl.456.674 $9.501.730 so l2..llJl.OO!ll $391.730 3.72 Sl.064.944 90.000 124 .722 2.82.lXXl $561.222 2.595 .150 !2...l82..8.Ul $773,499 S800.901 so m.ooo S289.000 (289.000) Q so 773.499 0 v .. 0 .000% 0 .000% 2001 S4 ,157 .400 $4,157 .400 50.000 1.002 .697 U.000 S5 .225 .097 so so S4 .022 .194 Sl.202.903 S20 .000 71 .544 0 Jll.00!! s 121.544 s 1.324,447 $798 .783 Q $798 .783 1.66 $525.665 90.000 124 ,722 Q $310.943 773,499 Q s 1.084.441 S800.901 804.439 280,003 Y .. n102 1/1/03 2002 $4.323.696 S4,323.696 50.000 1.002 .697 U.000 $5.391.393 so so S4,183,081 Sl.208.311 $20,000 79.264 0 lll.ll!l!l s 129 .264 Sl.337.575 $798.838 Q S798 .838 1.67 S538.738 90.000 129.711 Q S319.027 1.084 ,441 Q s 1.403.468 S800.901 836.616 566.852 Yes 4 .000% 0 .000% 2003 $4.323.696 $4,323 .696 50.000 1.002.697 U.000 S5.391.393 so so $4.350.405 Sl .040.988 $20.000 87 .195 () lll.ll!l!l Sl37.195 Sl.178,183 $802.518 Q S802.5 I 8 1.47 $375 .666 90.000 129 .711 Q s 155.955 1.403.468 Q s 1.559.423 $800,901 870.081 689.342 '"'~-' EXHIBIT 5 318196 CASHFLlO.XLS CashFlow CITY OF ENGLEWOOD, COLORADO Water Revenue Financial Planning Revenue Bonds, Series 2000 SOURCES Par Amount of Bonds Cash on Hand Accrued Interest Total Sources USES Long-Term Bond Take Out Deposit to Reserve Fund =Avg Anni Costs of Issuance 3.000 % Accrued Interest Rounding Amount Total Uses ASSUMPTIONS Dated Date Delivery Date First Interest Payment Date on Bonds First Principal Payment Date on Bonds Prepared by Public Financial Management. Inc. 7.765 ,000 2,382,873 0 10 ,147 ,873 9, 110 ,000 800.901 232 ,950 0 4,022 10,147 ,873 1211/00 1211/00 611/01 1211/01 NEW MONEY DEBT SERVICE Annu al Date Principal Coupon Interest Debt Service Debt Service EXHIBIT SA ------------------------------------------------------------------------------------------------------------------------------------------ 611100 1211100 611/01 246,891 246.891 1211101 305 ,000 4 .900% 246,891 551 ,891 79 8,783 611102 239 ,419 239.419 1211102 320,000 5 . 100% 239.419 559.419 798.83 8 611/03 231 ,259 231 .259 1211103 340,000 5 .200 % 231.259 571.259 802,518 6/1104 222.419 222,419 1211/04 355 ,000 5 .500 % 222,419 577.419 799 ,838 611105 212,656 212,656 1211105 375,000 5.750% 212 ,656 587 ,656 800,313 611106 201 ,875 201 ,875 1211/06 395,000 5.900% 201 ,875 596,875 798,750 611/07 190,223 190,223 1211/07 420,000 6 .100% 190,223 610.223 800,445 611/08 177.413 177 ,413 1211/08 445 ,000 6 .300% 177,413 622,413 799 ,825 611109 163,395 163,395 1211109 475,000 6 .500% 163 ,395 638 ,395 801,790 611110 147 ,958 147 ,958 1211/10 505 ,000 6 .500% 147,958 652,958 800,915 611111 131.545 131 ,545 1211111 540,000 6 .600 % 131,545 671 ,545 803 ,090 611112 113 ,725 113,725 1211/12 575 ,000 6 .700% 113 ,725 688 ,725 802,450 611113 94,463 94 ,463 1211/13 610.000 6 .800% 94 ,463 704.463 798.925 611114 73,723 73,723 1211114 655,000 6 .900% 73,723 728,723 802,445 611115 51,125 51 ,125 1211115 700,000 7.0<Xl % 51 ,125 751 ,125 802 ,250 611/16 26 ,625 26,625 1211/16 750,000 7.100 % 26,625 776,625 803,250 --------------------------------------------------------------------------- 7,765,000 5,049,423 12.814 ,423 12.814,423 Accrued Interest 0 ----------------- 5,049,423 3/8196 CASHFL50.XLS Revenue Bonds