Commission Agenda Item No. 3
Presenter: Rich McMonagle

Action
FY 2014-2015 General Obligation Bond Program
Authorization to Request New Bond Proceeds Financing for
Texas Parks and Wildlife Department Capital Construction Program Resolution
May 23, 2013

I.             Executive Summary:  It is anticipated that the 83rd Legislature will authorize the issuance of bonds and debt service for general obligation bonds for the Texas Parks and Wildlife Department Capital Construction Program.
 
II.          Discussion:  For the issuance of the General Obligation bonds to be issued as authorized by the 83rd Legislature, a resolution authorizing a request for financing and the execution of financing documents is required to be submitted by TPWD to the Texas Public Finance Authority (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 in Exhibit A, “A Resolution Authorizing a Request for New Bond Proceeds Financing for Texas Parks and Wildlife Department Capital Construction Program and the Execution and Delivery of Documents Required to Effect Such Financing,” for the proposed projects listed in Exhibit B.

Attachments – 2

  1. Exhibit A – A Resolution Authorizing a Request for New Bond Proceeds Financing for Texas Parks and Wildlife Department Capital Construction Program and the Execution and Delivery of Documents Required to Effect Such Financing
  2. Exhibit B – FY 2014-2015 Prioritized List of Proposed Projects

Commission Agenda Item No. 3
Exhibit A

A Resolution Authorizing a Request for New Bond Proceeds Financing
for Texas Parks and Wildlife Department Capital Construction Program and the Execution and Delivery of Documents
Required to Effect Such Financing

March 27-28, 2013ALT

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; Article IX, Section ____, Appropriations of Proposition 4 General Obligation Bond Proceeds, Senate Bill 1 (General Appropriations Act), 83rd Texas Legislature, R.S. (2013) (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 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 ____, Appropriations of Proposition 4 General Obligation Bond Proceeds, Senate Bill 1 (2013), 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 May 23, 2013, (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:

a.   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;

b.   cooperate with the Authority and its consultants to prepare an Official Statement in connection with the sale of the Obligations;

c.   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 will be 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.

In official recognition of the adoption of this resolution in a lawfully called public meeting of the Texas Parks and Wildlife Commission, we hereby affix our signatures this 23rd day of May 2013.

________________________________
T. Dan Friedkin, Chairman

________________________________
Bill Jones, Member

________________________________
Ralph H. Duggins, Vice-Chairman

________________________________
Margaret Martin, Member

________________________________
Antonio Falcon M.D., Member

________________________________
Karen J. Hixon, Member

________________________________
S. Reed Morian, Member

________________________________
Dick Scott, Member

________________________________
Dan Allen Hughes, Jr., Member


Commission Agenda Item No. 3
Exhibit B

FY 2014-2015 Prioritized List of Proposed Projects
Rank Location Project Title Project Summary Estimated Project Cost ($)
1 South Llano River SP Headquarters Building Renovation and Expansion Renovate and expand the headquarters building, build a fee collection booth at the park entrance, and expand parking. 1,079,000
2 Tyler SP Electrical Service Repairs Repair electrical service from service poles to 29 shelters in the Area 9 Camping section. 910,000
3 Stephen F Austin SHS Utility Upgrades Upgrade utilities for camp loop for 40 campsites to include upgrading from 30 amp to 50 amp service and replacing wastewater lines, in order to improve visitors' experiences and increase revenue. 819,000
4 Garner SP Restroom Replacement Replace the restroom with four stalls and three showers per side, which serves 50 campsites and the Cowboy Theater in the Shady Meadows Camping Area. 780,000
5 San Jacinto Monument SHS Visitor Entry Door and Soffit Repair Repair San Jacinto Monument's historic, bronze, visitor entry doors, hardware, and overhead stone soffits on each side of the building. 442,000
6 Lake Brownwood SP Sewer Treatment Plant Replacement Replace the Comanche sewer treatment plant which services the entire park. 2,860,000
7 Seminole Canyon SHS Utility Upgrades Upgrade utilities for 23 campsites in the Desert Vista Loop camping area, to include upgrading from 30 amp to 50 amp service and replacing the water lines and On-Site Sewage Facility System, in order to improve visitors' experiences and increase revenue. 572,000
8 Hill Country SNA Water System Replacement and Distribution Replace existing water facilities with a new water distribution network. Add a water treatment system to the main existing well. 1,690,000
9 Waco Regional Office Regional Office Building Replacement Replace the undersized Regional Office Building, which supports business operations for 4 agency divisions; work includes associated site work, landscaping, parking and access. 3,640,000
10 Possum Kingdom SP Concession Building Replacement Replace the undersized concession building to accommodate retail space needs and customer services provided by the park concessionaire. 663,000
11 Inks Lake SP Headquarters Building Replacement Replace the undersized headquarters building with one which includes an adequately sized lobby and registration area and office, as well as additional restrooms. Improve traffic flow around the headquarters site by reconfiguring parking and driveway area. 1,950,000
12 Choke Canyon SP - Calliham Unit Water Intake Pumps Replacement Replace two raw water intake pumps that support the existing Calliham Unit water treatment plant. 312,000
13 Austin Headquarters Complex HVAC Unit Replacements Replace three independent HVAC units with updated units in the video bay, police office, and telephone switch room at TPWD Austin Headquarters Complex. 87,100
14 Lake Bob Sandlin SP Screen Shelter Conversions and Utility Upgrades Convert eight screen shelters in Moccasin Track Camping Area's into enclosed air-conditioned/heated shelters with electrical upgrades, in order to improve visitors' experiences and increase revenue. 520,000
15 Lake Somerville SP - Birch Creek Restroom Replacement Replace one flood-damaged restroom and associated plumbing systems which serve the boat ramp area. 871,000
16 Cedar Hill SP Erosion Protection Provide shoreline protection along the lake shorelines that will prevent erosion that compromises recreational use, public access and causes loss of natural and cultural resources. 3,900,000
17 Lost Maples SNA Restroom and Comfort Station Repairs Repair the camping area restroom and Day Use Area comfort station toilet support structures and construct infant changing stations to serve visitors with small children. 520,000
18 Davis Mountains SP Comfort Station Replacement Replace Group Picnic Area comfort station and associated plumbing, mechanical and electrical systems. 650,000
19 San Jacinto Monument SHS Preliminary Engineering Study for Water Leaks Provide preliminary engineering study to evaluate the cause of the Monument's basement water leaks and to determine preventative measures. 91,000
20 Balmorhea SP Spring-Fed Swimming Area Renovations Restore historic San Solomon spring-fed swimming area by repairing the Civilian Conservation Corps (CCC) built stone walls, walkways, group hall, and dining room. Repair the swimming area restrooms, landscaping and lighting, in order to improve visitors' experiences and increase revenue. 3,900,000
21 Tyler SP Screen Shelter Conversions and Utility Upgrades Convert 10 existing Area 9 screen shelters to enclosed air-conditioned/heated shelters with electrical upgrades, in order to improve visitors' experiences and increase revenue. 520,000
22 The Nature Center (Tyler) Regional Office Building Replacement Replace existing decentralized offices with a consolidated multidivisional regional office building. 3,900,000
TOTAL 30,676,100

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