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File #: 21-314    Name:
Type: Presentation Status: Individual Item Ready
File created: 3/25/2021 In control: City Council
On agenda: 4/12/2021 Final action:
Title: Presentation from Comal County Water Improvement District No. 1A (Veramendi) representatives regarding summary of proposed issuance of bonds.
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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PRESENTER: Presenter

Julie Peak, Principal, Masterson Advisors

 

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SUBJECT: Title

Presentation from Comal County Water Improvement District No. 1A (Veramendi) representatives regarding summary of proposed issuance of bonds.

 

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DEPARTMENT: Economic and Community Development

 

 

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COUNCIL DISTRICTS IMPACTED: N/A

 

 

BACKGROUND INFORMATION:

The Comal County Water Improvement District is an approximate 2,462 acre master planned community commonly known as Veramendi.  The Development Agreement ("the Agreement") between the City of New Braunfels and Veramendi authorizes up to $620 million in debt for eligible, designated purposes.   The Agreement requires that the District provide a presentation to the City Council ahead of any new debt issuances.  Bonds issued by the District are paid for by tax revenues secured by taxable assessed valuation within the boundaries of the WID. Section 8 of the Agreement outlines the requirements for the District (and subdistricts) and indebtedness, as well as the obligations of the District to the City.

 

 

 

ISSUE:

Presentation to discuss the proposed issuance of tax bonds by the Veramendi district

 

 

FISCAL IMPACT:

None

 

 

 

Recommendation

RECOMMENDATION:

N/A