Presenter: Steve Whiston
Commission Agenda Item No. 8
FY 2008 General Obligation Bond Program
New Bond Proceeds
August 23, 2007
I. Executive Summary: FY 2008 General Obligation Bond Financing: In May 2007, the 80th Texas Legislature passed a resolution authorizing the issuance of $1 billion in general obligation bonds contingent upon the adoption of a constitutional amendment to be submitted to voters in November 2007. If adopted, the new proposition will authorize the issuance of $717.3 million of bond proceeds for nine state agencies, including $52.12 million for Texas Parks and Wildlife Department for statewide Park repairs and for the Battleship Texas. Contingent upon voter approval of the new proposition, the 80th Texas Legislature authorized the issuance and appropriated debt service for $52.12 million of these bonds.
II. Discussion: For the issuance of the $52.12 million of General Obligation bonds authorized by the 80th Legislature contingent upon the adoption of a constitutional amendment to be submitted to voters in November 2007, a resolution authorizing a request for financing and the execution of financing documents is required between TPWD and TPFA.
III. Recommendation: The staff recommends the Texas Parks and Wildlife Commission adopt the following motion:
"The Texas Parks and Wildlife Commission adopts by resolution (Exhibit A) the "Resolution Authorizing a Request for Financing and the Execution and Delivery of Documents Required to Effect Such Financing."
Attachments – 1
Commission Agenda Item No. 8
A Resolution by the Texas Parks and Wildlife Commission Adopting Nonprofit Partners
Whereas, the Texas Public Finance Authority (the "Authority") is authorized to issue general obligation bonds to finance the cost of certain projects for the use and benefit of the Texas Parks and Wildlife Department ("Agency") pursuant to Article III, Section 50g, Texas Constitution, Chapter 1232, Texas Government Code, as amended, Article VI, Texas Parks and Wildlife Department, Section 2, pp vi-31 and vi-32, House Bill 1, 80th Texas Legislature, R.S. (2007), Article IX, Sec. 19.71, Contingency for Senate Joint Resolution 65 and Senate Bill 2033, pp ix-92 and ix-93, House Bill 1, 80th Texas Legislature, R.S. (2007) and contingent upon adoption of the constitutional amendment to be submitted to voters on November 6, 2007, pursuant to Senate Joint Resolution 65 and Senate Bill 2033, 80th Texas Legislature, R.S. (2007), (collectively, the "Authorizing Law").
Whereas, the Agency desires and intends to request the Authority to finance the cost of the projects as permitted by the Authorizing Law; and
Whereas, the Agency recognizes that in order to finance the cost of the projects, the Authority may issue short-term obligations, general obligation bonds, either or both ("Obligations") in an aggregate principal amount sufficient to finance project costs in the estimated amount of $52,120,000, plus the costs of issuance and related administrative costs, if any, which will be determined at the time of issuance; and
Whereas, pursuant to Article IX, Section 19.71, pp ix-92 and ix-93, projects funded with bond proceeds are subject to approval of the Legislative Budget Board;
Whereas, the form of a Request for Financing, dated as of August 23, 2007, (the "Request for Financing"), from the Agency to the Authority, which includes a detailed description of the projects to be financed for the Agency ("Projects " herein) and a proposed expenditure schedule, is presently before the Texas Parks and Wildlife Commission.
NOW, THEREFORE, BE IT RESOLVED by the Texas Parks and Wildlife Commission that:
Section 1. The purpose of the financing is to provide funds sufficient to complete the Projects, and the financing thereof is appropriate at this time. Accordingly, the execution and delivery of the Request for Financing to the Authority pursuant to the Authorizing Law is hereby ratified, approved and confirmed.
Section 2. The Executive Director of the Agency is hereby authorized, empowered and directed to:
- sign and deliver any and all documents necessary or desirable to effect the financing and provide the projects, which documents may include but not be limited to a Memorandum of Understanding and a Financing Agreement between the Agency and the Authority;
- cooperate with the Authority and its consultants to prepare an Official Statement in connection with the sale of the Obligations;
- and to take any other action necessary to assist in such sale.
Section 3. All actions not inconsistent with provisions of this Resolution heretofore taken by the Agency, its officers, employees, agents or consultants, directed toward the financing of the Projects and the issuance of the Obligations, is hereby ratified, approved and confirmed.
Section 4. The officers and employees of the Agency shall take all action in conformity with the Authorizing Law to effect the issuance of the Obligations and complete the Projects as provided in the Agreement and to take all action necessary or desirable or in conformity with the Authorizing Law for carrying out, giving effect to, and consummating the transactions contemplated by the Memorandum of Understanding, the Agreement, the Obligations, and the Request for Financing, including without limitation, the execution and delivery of any closing documents in connection with the closing of the Obligations.
Section 5. The Projects have been submitted to the Legislative Budget Board for its approval.
Section 6. This Resolution was adopted at a meeting open to the public, and public notice of the time, place and purpose of said meeting was given, all as required by Ch. 551, Texas Government Code.
Adopted by the affirmative vote of a majority of the Texas Parks and Wildlife Commission present and voting on this 23rd day of August 2007.
- Peter M. Holt, Chairman
- Donato D. Ramos, Vice-Chairman
- Mark E. Bivins, Member
- J. Robert Brown, Member
- Joseph B. C. Fitzsimons, Member
- T. Dan Friedkin, Member
- Philip Montgomery III, Member
- John D. Parker, Member
Texas Parks & Wildlife Department
Fiscal Year 2008-2009 Major Construction or Repair Priorities for State Parks
NEW (Proposition 4 General Obligation Bonds)
August 23, 2007
|Location||Description||Project Overview||Estimated Project Cost|
|Battleship Texas||Build graving dock to preserve ship. With bond funding and appropriated receipts, project budget is $29,000,000.||In order to provide for the long-term preservation of the Battleship Texas, a new permanent dry berth will be constructed. The ship will taken out of the water and will no longer be subjected to the corrosive effects of the Houston Ship Channel.||25,000,000|
|Balmorhea SP||Repair and replace failing roofs at CCC built buildings||Repair and replace failing roofs site-wide at CCC built buildings including clay tile, concrete tile, and built-up roofing systems. Repair chimneys, flashing, and wood trim.||271,750|
|Balmorhea SP||Site Wide Exterior Wall Repairs||Repair exterior wall damage to all structures. Repairs range from repairing adobe damaged by rising damp to replastering larger areas to repair of minor cracks in both historic and non historic structures. Limited door and frame replacements will be made.||125,677|
|Bastrop SP||Repair roof on CCC built warehouse||The roof on the CCC constructed warehouse, part of the National Historic Registry park, is leaking, allowing for further damage from water intrusion and rot. The roof needs to be repaired.||117,294|
|Bastrop SP||Repairs and renovations to comply with ADA at park||Most of the park is not ADA compliant nor accessible. These repairs will replace a very popular park, on the National Historic Registry, to current accessible standards.||1,336,032|
|Bastrop SP||Renovate bathhouse, repair plumbing in the bathhouse and repair the leaks in the pool's plumbing||Very old plumbing is deteriorating and leaking, causing damage from water and rot. The repairs will replace old plumbing, seal leaks in the swimming pool, and renovate the bathhouse. These repairs are needed to stop the water damage and to save a history.||564,508|
|Bastrop SP||Renovate and repair CCC built cabin and pro-shop||This cabin is built to span natural 10 foot deep drainage. Slow erosion over the past 80 years has caused foundation settlement and associated deflection and movement of the cabin. Repairs are necessary to stabilize this historic CCC cabin.||635,239|
|Bastrop SP||Renovate and repair deteriorated CCC built group barracks, restrooms and kitchen||Civilian Conservation Corps (CCC) facilities, built over 70 years ago, are deteriorating and falling apart, in this National Historic Registry park. Renovations and repairs are necessary to save these historical structures.||1,017,120|
|Big Spring SP||Build CXT restroom to comply with ADA||Repairs to CCC restroom needed to meet ADA are not feasible. Build CXT restroom to accommodate accessibility requirements.||373,299|
|Buescher SP||Renovation and repairs of CCC built recreation hall||This structure, constructed by the Civilian Conservation Corps (CCC) 70 years ago, is subjected to foundation problems, which are affecting the walls and roof. The structural problems need to be addressed by making repairs to the foundation.||861,372|
|Cedar Hill SP||Replace electrical & water and add sewer service to campsites at Lakeview Camping Loop||Cedar Hill S.P., just south of Dallas, has the highest overnight visitation rates in the entire park system. The existing water has numerous leaks and is in need of replacement. The electrical system no longer can handle the demand of the newer, larger RVs.||763,925|
|Cedar Hill SP||Replace electrical & water and add sewer service to sites in Eagle Ford Camp Loop||Cedar Hill S.P., just south of Dallas, has the highest overnight visitation rates in the entire park system. The existing water has numerous leaks and is in need of replacement. The electrical system no longer can handle the demand of the newer, larger RVs.||805,424|
|Cedar Hill SP||Replace electrical & water and add sewer service to campsites at Shady Ridge Camp Loop||Cedar Hill S.P., just south of Dallas, has the highest overnight visitation rates in the entire park system. The existing water has numerous leaks and is in need of replacement. The electrical system no longer can handle the demand of the newer, larger RVs.||941,486|
|Cedar Hill SP||Replace electrical & water and add sewer service to campsites at Hog Hollow Camp Loop||652,340|
|Cedar Hill SP||ADA replacements for restrooms and park headquarters||The restrooms and entries to the park headquarters building are in need of replacement to comply with ADA.||217,305|
|Cedar Hill SP||Replace electrical & water and add sewer service to campsites at Coyote Crossing Camp Loop||975,773|
|Choke Canyon SP — Calliham Unit||Replace site roofs||Most of the existing composition shingle roofs in the park require replacement due aging and to destructive invasion by raccoons. New replacement metal roofing will eliminate this damage.||726,248|
|Choke Canyon SP — South Shore Unit||Roof repairs/replacements at park||Most of the existing composition shingle roofs in the park require replacement due aging and to destructive invasion by raccoons. New replacement metal roofing will eliminate this damage.||251,972|
|Daingerfield SP||Repair deteriorated CCC built buildings||Repair deteriorated structures. The park has many building built in the e1930's by the CCC. This project is to repair the Bass Lodge, Boat House and the Concession Building.||2,000,000|
|Davis Mountains SP||Exterior Wall Repairs to CCC-built Warehouse||CCC-built Warehouse building has significant exterior wall damage to its historic fabric including varmint destruction, shifting and cracking wall, multiple minor plaster cracks and failures, and general sealing and repairing. Replace doors and windows.||163,117|
|Davis Mountains SP||Renovate CCC Park Ranger Residence||The CCC-built Rangers Residence is in need of extensive interior and exterior repairs to prevent destruction of the historic fabric. Make exterior plaster wall repairs, roof repairs and interior renovations.||455,608|
|Enchanted Rock SNA||Wastewater system repairs/replacement||Replace or Repair two Septic Systems.||207,309|
|Fort Richardson SHP||Renovate pavilion, picnic sites and restroom to comply with ADA||A public entity shall operate each service, program or activity so that the service program or activity when viewed in it's entirety is readily accessible to and usable by individuals with disabilities.||131,152|
|Garner SP||Repair and renovate CCC built cabins||The 17 cabins in Oakmont Section of Garner State Park were built by the Civilian Conservation Corps. Repair damage to walls, windows, floors and doors caused by foundation failures.||1,312,558|
|Garner SP||Repair Screen Shelters||The screen shelters in are exhibiting roof problems, screen tears, screen door breaks, and paint pealing. Repairs on 22 screen shelters, 16 in River Crossing, and 6 in Oakmont.||198,743|
|Garner SP||Group Shelter Renovations||Create enclosed, efficient, air-conditioned space with wall and roof insulation, new windows, and HVAC equipment.||45,251|
|Goliad SHP||Repairs and renovations to comply with ADA at park||The existing playground equipment in day-use area is not in compliance with current safety and ADA standards as required by state law.||67,451|
|Goose Island SP||Replace utility service at wooded area multi-use campsite||Repair and replace deteriorated electrical service at 43 campsites within the Wooded Area campground. Replace adjacent waterlines and associated pedestal units to each of the 43 campsites.||248,805|
|Inks Lake SP||Repair and replace 65 campsites and renovate water service to each campsite||Repair and replace deteriorated electrical service at 65 campsites. Replace adjacent waterlines and associated pedestal units to each.||450,285|
|La Porte Regional Office||Renovation of Parks Region 4 Headquarters||The Region 4 Office is a substantial masonry building that is deteriorating due to age and deferred maintenance. This project is intended to comprehensively address all repairs and maintenance needs as well as bring it into compliance with ADA requirements.||290,936|
|Lake Brownwood SP||Connect park water system to Brooksmith Water System||TCEQ has inspected the existing water plant and found many problems. The UPO for the park has to maintain the water plant along with two wastewater plants. Surface water treatment plants require a minimum of a Class B License to operate.||230,360|
|Lake Corpus Christi SP||Repair collapsed retaining wall||High lake levels and wind driven waves washed out the backfill along a concrete retaining wall at the lakeshore causing a 150 foot section to collapse. This project will repair that wall section of wall, adding additional anchorage.||65,941|
|Lake Livingston SP||Repair and replace electrical and water service to the camp sites in the Pin Oak Loop||The electrical service and distribution in the Pin Oak Loop camping areas have deteriorated and are in need repair. They are both a safety hazard and an inconvenience to our visitors. The water distribution to this camping area is deteriorating.||438,916|
|Lake Livingston SP||Renovate restrooms in the Yaupon Loop and Hercules Club Loop||Specific restrooms are not ADA accessible. This proposed project provides accessibility improvements to men's and women's restrooms at the Yaupon and Hercules Club camping loops in the park.||168,958|
|Lake Somerville SP — Birch Creek Unit||Repairs and renovations to comply with ADA at park||With the exception of the newer headquarters/visitor center, the park is not ADA compliant. This would bring certain public access into accessible compliance.||133,953|
|Lake Somerville SP — Nails Creek Unit||Replace one deteriorated Corp of Engineers restroom||One (1) USACE restroom is deteriorated and inaccessible. With our agreement with the Corps of Engineers, we help maintain these restrooms. The restroom is an inconvenience to our guests and should be replaced.||321,084|
|Lake Texana SP||Repair and replace the electrical and water distribution service to the campsites in the multi-use camping area||The electrical services to the campsites in the Multi-Use Camping Area need to be repaired and replaced.||666,182|
|Lake Whitney SP||Replace restroom #5 to comply with ADA||Restroom #5 is not in compliance with TCEQ regulations not ADA compliant.||391,798|
|Lake Whitney SP||ADA replacements to recreation hall and screen shelters||Repair / renovate to comply with ADA||89,060|
|Lost Maples SNA||Replace water and electrical service and pedestals in camping loops||Repair and replace deteriorated electrical service at campsites. Replace adjacent waterlines and associated pedestal units to each.||257,802|
|Lyndon B Johnson SHP||Sauer Beckmann Farm Repairs||Metal roofs are leaking, Historic logs on log cabins are rotting, screen doors are breaking, shutters are separating, and the wood floors are worn.||290,188|
|Lyndon B Johnson SHP||Repair Danz Cabins||The Danz cabins are original log structures in their original locations. The historic cabins are structurally unsound and must be repaired to prevent risk to visitors.||252,798|
|Mission Tejas SHP||Renovate deteriorated park restrooms||Repair deteriorated restrooms. Renovate existing restrooms in the camp area and picnic area.||531,700|
|Mission Tejas SHP||Replace deteriorated pedestrian bridges and renovate existing trail system.||The park as a number of hiking trails in need of repair. The repairs are important for visitors to have a safe experience in the outdoors. Replace deteriorated pedestrian bridges and renovate existing trail system.||178,953|
|Mission Tejas SHP||Repair Historic Features||Historic resources in the parks need to be maintained so the resource is not lost. Repairs to historic Rice Family log home. Reroof and remortar the Mission.||253,305|
|Palo Duro Canyon SP||Conduct engineering study for alternative water supply options||The existing water treatment plant needs to be replaced because of age and regulations. All options for water service to the park need to be explored to determine the most feasible.||82,500|
|Palo Duro Canyon SP||Repairs and renovations of Sagebrush Camp Loop to comply with ADA.||In 1992 the Federal Government mandated that all public facilities be modified to accommodate universal accessibility. TPWD provided a 1992 Transition Plan for every park or historic site in the system. This project is the implementation of that plan.||36,595|
|Palo Duro Canyon SP||Repairs and renovations to comply with ADA at park headquarters||In 1992 the Federal Government mandated that all public facilities be modified to accommodate universal accessibility. TPWD provided a 1992 Transition Plan for every park or historic site in the system. This project is the implementation of that plan.||167,265|
|Palo Duro Canyon SP||Repairs and renovations to Chinaberry day use area to comply with ADA at park||A public entity shall operate each service, program or activity so that the service program or activity when viewed in it's entirety is readily accessible to and usable by individuals with disabilities.||168,302|
|Possum Kingdom SP||Connect park water system to public water supply||The existing water treatment plant is currently in violation of the TCEQ regulations. Design and construction of the necessary infrastructure to connect the park's water system to Possum Kingdom Waster Supply Corporation.||189,430|
|Possum Kingdom SP||ADA renovations for six cabins||Currently there are six cabins at Possum Kingdom State Park, none of which meet the Texas Accessibility Standards nor the Americans with Disabilities Act.||384,650|
|San Jacinto Battleground SHP||Start phase 2 wastewater treatment repair/replacement plant project||Replace pump station near park store. Remove old lift station wells. Repairs to lift stations. Install treatment plant feeding system. Install filter system at Post Basin. Construct restroom at plant site.||435,750|
|Sea Rim SP||Replace near obsolete wastewater plant||The existing wastewater treatment plant is severely damaged; it containment tanks leak, the control panels and electrical system were destroyed by Hurricane Katrina, and it location is within 150 ft radius of the domestic water service, making it illegal.||811,100|
|Sea Rim SP||Replace the water distribution system including the valves at the Beach Unit||The existing water distribution system at the Beach Unit is buried too deep to properly maintain. When the parking lot was resurfaced the existing valves and water lines were covered.||206,710|
|TPWD HQ — Austin||Renovate all 16 restrooms including new tile walls, floors, paint, partitions, plumbing, fixtures||Project to remodel walls, floors, replace worn plumbing and hardware, improve health, safety, function, and appearance of rest rooms at HQ. HQ rest rooms have not been remodeled since building construction.||1,132,719|
|TPWD HQ — Austin||Repair slabs on A and C Wings Project includes excavating soil, remove/replace 1 rotating slab on A and C||This project is needed to prevent further rotation of slabs adjoining the A and C wings which have sunk due to erosion and could possibly result in more extensive damage to the facility or water intrusion, threatening the business functions.||135,267|
|Tyler SP||Replace restrooms — Black Jack and Red Oak||The restrooms within the park are old and in need of replacement. Providing restrooms with showers for Black Jack and Red Oak camping area will increase customer use.||402,068|
|Tyler SP||Renovations to Cedar Point Camp area||The Cedar Point Camp Area is in need of replacing its facilities to current standards. Replace electrical pedestals, fire rings, and repair erosion and level campsite.||352,056|
|Tyler SP||Area 10 Renovation||Area 10 has 6 existing screen shelters and one group building. These facilities are old and in need of repair. The repair will include renovation of the group facility and conversion of the screen shelters into cottages.||861,013|
|Tyler SP||CCC Structures: Concession — Garage — CCC Residence||CCC facilities are deteriorated and in disrepair. Tyler SP has many buildings constructed by the CCC in the 1930s. These facilities have fallen into disrepair due to age and funding restrictions. A Feasibility Study for repair was conducted in 2004.||970,504|
|Department-Wide||Emergency Reserve||Reserve set aside to fund unanticipated emergency repairs occurring as a result of catastrophic events or natural disasters.||305,094|
|Total Proposition 4 Authority||52,120,000|
The State Of Texas
County Of Travis
I, the undersigned Executive Director of the Texas Parks and Wildlife Department, do hereby certify that the foregoing resolution is a true, full, and correct copy of a resolution adopted by the Texas Parks and Wildlife Commission of the State of Texas on the 23rd day of August 2007.
Executed Under My Hand and seal of said Commission on this the 23rd day of August 2007.
Robert L. Cook
Texas Parks and Wildlife Department