Laredo ISD -PFC · Laredo ISD -PFC Laredo, Texas Public Facilities Corporation (PFC) Lease Revenue...

Laredo ISD -PFCLaredo, Texas

Public Facilities Corporation (PFC) Lease Revenue BondsRating Presentation

October 21-22, 2004 New York, New York

Rating Presentation Agenda

(1) Introduction/Purpose (2) Overview of LISD (3) Mission, District Goals, Strategic Plan for

Facilities(4) Construction Update (5) Financial Report(6) Public Facilities Corporation Financing Plan and

Official Statement – Real Estate Transaction (7) Summary (8) Q & A

Introduction by EH & Co, Financial Advisor

1. Dr. Dennis Cantu, Board President 2. John P. Montalvo, Vice President3. Sylvia Bruni, Superintendent4. Jesus J. Amezcua, CPA, CFO5. Rosa Maria Torres, Financial

Management Director

1. Noe Hinojosa, EH & Co, Financial Advisor

2. Donald Gonzales, EH & Co, Financial Advisor

3. Juan Aguilera, Bond Counsel, Escamilla and Poneck

4. Carey Troell, Disclosure and Real Estate Counsel, Winstead, Sechrest, & Minick

5. John Kazen, General Counsel, Kazen Murer & Perez

Purpose

• To provide information (1) regarding LISD’s PFC – Facilities Program and (2) to highlight the strong financial commitment by the State, the District and the Community toward student success.

Board President’s Message

LISD Profile: • 23,881 student

enrollment• 3 high schools, 4 middle

schools, & 20 elementary schools

• 1 Alternative Education Program, and 3 Magnet Schools (Health Sciences and Fine Arts and Communication and Engineering and Technology)

3 Recognized

24 Acceptable

Buenos Aires Elementary

Source: ’03 AEIS Report.

T

A

K

S -A

Y

P

LISD Profile• 22,159 ADA• 96.4%

attendance rate

• 59.9% Bilingual

• 95.5% Economic disadvantaged


•12% Special Education•1,080 graduates

•1.0% annual dropout rate

LISD Profile (cont’d)

• 99.2% Hispanic• .7% White• 3,458 total FTEs• 1,515 teacher FTEs• 13.3 average years

of experience



• $56,787 taxable value per pupil ($242,809 State)

• $6,671 operating expense per pupil ($7,088 State)



• Urban School System - 13.83 square miles

• Second Largest Employer in Laredo• Border City to Mexico• Webb County Current Population

214,907 (est. 2003)

Superintendent’s Focus

Mission, District Goals and Strategic Plan for Facilities

• Mission • District Goals • Strategic Plan

for Facilities

Mission

• The mission of Laredo ISD, as an educational partner with the City of Laredo and the larger global community, is to develop and educate our students by providing a relevant and challenging curriculum through innovative programs and effective use of resources in a safe and nurturing environment.

Student Proficiencies – District Goals

• Students…- will be reading on

grade level.- will complete their

individual course of study and graduate

- will be enrolled in post secondary study or be gainfully employed

Facilities Goal => Strategic Plan-Facilities 2000-2005

• LISD – GovernmentCommitment to provide opportunities to 24,000 students

• Public Facilities Corporation (PFC) a tool to maximize resources utilizing State -IFA funding:– To address $75.2M

Notices published in accordance with PFC guidelines. Bond Issue Size produced to maximize State Aid.

Facilities Goal => Strategic Plan-Facilities 2000-2005

Basic Facility Needs:• Phase 1 and 2:

– $144M Bond Package– $16M in QZABs– $15M in interest.

• Phase 3 – $75.2M – To be addressed via

PFC• Phase 4

– To be addressed with future Bond Election or PFC $28M

Instructional Facilities Allotment (IFA) applications:

#1 and #2 for $144M

#3 for $75.2M

Future Needs to be addressed through future IFA and EDA

Planning estimates:• $8M Shirley Stadium• $6M Food Services Facility• $2M Transportation Facility• $10M Instruction and Fine

Arts Complex• $2M Technology Complex• Total $28M

[ To be addressed through QZAB, CDEs, Bond Election, and PFC]

Financial Facilities Management Plan Status

Construction Fund Sources/RevenuesAs of 09/30/04

$175,892,209$175,892,209Total Sources

$1,325,920-Interest Pending

Actual BudgetBudget Item

$14,566,289$15,892,209Interest earnings$16,000,000$16,000,000QZAB $144,000,000$144,000,000Bonds

Construction Fund ExpendituresAs of 09/30/04

0 Amount pending funding

$175,892,209Budget

Actual Budget Item

$28,166,927Balance to spend

($22,801,750)Encumbered

($124,923,532)Expenditures

Encumbrance means contract awarded and P.O. Issued.

Completed Replacement School Projects

Replacement School Projects: 850 Students

– Sanchez/Ochoa Elem.

– Farias Elem.

– Milton Elem.

– Santo Nino Elem.

– Alma Pierce Elem.

– Lamar Middle

Completed Renovations– Dovalina Elem. Ligarde Elem. Kawas Elem.

Completed Replacement School Projects

• 650 Students– Santa Maria Elem.– Bruni Elem.

– Macdonell Elem.

Other New Wings and Improvements Completed

– Cigarroa Middle– Nixon Phase I– Martin Phase I – Cigarroa High Phase I

Projects under Construction– Tarver Elem.– Memorial Middle– Cigarroa Middle and– Cigarroa High Phase II

Facility Needs and PFC Projects

Description of PFC Projects and Timeline

2,147,125Fall 200510. Cigarroa High Literacy Center and Library (#3)

$75,231,375Total

4,617,125Fall 20059. Nixon High Literacy Center (#3)

1,397,125Fall 20058. Martin High Literacy Center (#3)

6,500,000Fall 20057. DD Hachar Elementary (#3)

14,689,000Fall 20056. Martin High (#2)

11,881,000Spring 20055. Christen Middle (#2)

8,500,000Fall 20054. Daiches Elementary (#1)

8,500,000Fall 20053. Leyendecker Elementary (#1)

8,500,000Fall 20052. Buenos Aires Elementary (#1)

8,500,000Spring 20051. Ryan Elementary (#1)

AmountProjectedSchool

( ) Total Denotes Notice in Newspaper

Highlight of Needs and PFC Plan (Series A)

Buenos Aires Elementary (850)1924 Originally Built (25) Total Rooms = 621946 -7 classrooms Total Bldg = 211956 -17 classrooms Sq Ft = 40,5461960 Auditorium1969 Library -old1975 -3 classrooms1987 -8 classrooms1988 Library1992 Library Room1993 -2 Classrooms

1 Bldg Replacement School

Total Rooms = 39 and support services

Sq Ft = 92,000

Includes new library, gym, larger cafeteria and music room and art room.

FOR INTERIM REVIEW ONLY

OR PERMIT PURPOSES

GUILLERMO J. CAVAZOS

NOT FOR CONSTRUCTION,BIDDING

Fri, 08-Oct-2004

ARCHITECT:TX. REGIS. :

DATE:#4044

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OR PERMIT PURPOSES



Fri, 08-Oct-2004


DATE:#4044

KEY PLAN

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ref

frzr

1ST

CAFETERIA

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GYMNASIUM

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BOYS

1ST

MEN

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MECH

1STK

JAN.OFFICE

CENTERRESOURCE

THERAPY

PRINCIPAL

SECRETERIAL

STOR.

3RD

MECH

STAGE

RA

MP

OFFICE

2 FRAMES

DATACOMM.

GIRLS

STACKS

LIBRARY

4TH

TEACHERSLOUNGE

MECH

4TH 4TH 4TH

CONF

PHONES

WRKRM

4TH

ROOMBOOK

5TH

MECH

ELEC

GIRLS

DESK

MECHMECH

BOYS GIRLS

K

WORKROOM

STORAGEA/V

BOYS

K

GIRLS

STORY TELLING

K

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PORCH

CO

UN

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NURSE

MEN

WOMEN

STOR

GIRLS

K

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PK

MECH

SPEECH

PHYSICALTHERAPY

PK

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GIRLSBOYS

PK

COMPUTER

5TH

OFFICE

LAB

5TH

IDF

5TH

SCIENCE

STOR

5TH

JAN

ELEC.

LABCOMPUTER

PK

GIRLS

PK

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FINE ARTS

ART

MUSIC

CONTSELF

CONTSELF

3RD 3RD4TH

ZONE AZONE B

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CURRICULUMSPECIALIST

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SITE PLAN

FLOOR PLAN


Daiches Elementary(650)1920 Originally Built (25) Total Rooms = 471954 -2 classrooms Total Bldg = 191960 -5 classrooms Sq Ft = 42,6531970 -5 classrooms,

library, restrooms1980 – cafeteria 1987 2 classrooms 1988 8 classrooms

1- Bldg Replacement School


Sq Ft= 65,000 Includes new library, gym, larger cafeteria and music room and art room.

Site Plan

Financing PlanFloor Plan


Leyendecker Elementary (650)1953 Originally Built (40) Total Rooms = 581956 Additions 6 rooms Total Bldg = 13 1983 Cafeteria Sq Ft = 45,0881988 10 classrooms

(Early Childhood Center)

1995 1 classroom1996 1 classroom


Total Rooms 29+10=39

Sq Ft = 81,000

Includes new library, gym, larger cafeteria and music rooms and art rooms.

KEY PLANNORTH

LAREDO INDEPENDENT SCHOOL DISTRICT1702 HOUSTON ST. LAREDO, TX., 78040

J.A.F.M.JM.J

09/1/04021502

Approved:Checked:Drawn by:

Date:

Drawing N°

Job N°

A1-2Sht. of. .

TITLE:

COMPOSITESITE PLAN

SCALE: 1/8" = 1'-0"COMPOSITE SITE PLAN

Floor Plan

Partial Plan - A

Partial Plan - B

Partial Plan – C

Partial Plan – D

Front Elevation

Site Plan

Site Plan

FLOOR PLANSCALE: N.T.S.

CLASSROOM CLASSROOM CLASSROOM CLASSROOM

CLASSROOM CLASSROOMCLASSROOMCLASSROOM

CLASSROOM CLASSROOMCLASSROOMCLASSROOM

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BOY'ST.R.

GIRL'ST.R. COMPUTER LAB.

COMPUTER LAB.

MDF STORAGETEA.

GYMNASIUM

BOY'ST.R.

GIRL'ST.R.

BOY'ST.R.

GIRL'ST.R.

JANITOR

JANITOR

JANITOR

LIBRARY

MUSIC/FINE ARTS

SCIENCE DEMO LAB.

BOOK RM

CAFETERIA

CORRIDOR

VESTIBULE

VESTIBULE

VESTIBULE

CORRIDOR

CORRIDOR

CORRIDOR

CORRIDOR CORRIDOR

CORRIDORMECHANICAL

CUST. STORAGE CUSTODIAN OFFICE

SELF CONTAINED

SELF CONTAINED

THERAPY RMOCCUPATIONAL / PHYSICAL

THERAPY RMSPEECH LANGUAGE

STOR.TEA.

STOR.TEA.

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STOR.TEA.

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STOR.

STOR.

LOBBY

DRY STORAGEOFFICE

COOLERFREEZERFOOD PREPERATION

LOCKERSTOILET

LAUNDRY RM.JANITOR'S

OFFICE

STAGE

RAMP

RAMP

STORAGEOUT & IN DOOR

P.E. STORAGE MECHANICALR.R.

A-104

KITCHENLAUNDRY /T.R.

STORAGE STORAGE

STOR.TEA.

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WORK RM.

AREASTORY TELLING

STORAGE

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CORRIDOR

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B-117 B-112B-119

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C-103 C-114

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C-133C-135

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OFFICE

C-134.

AUDIO / VIDEO

C-121

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D-113

D-120D-119

D-126

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R.R.B-118

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CORRIDORA-100

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RECEIVINGB-109

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VEND.REF'G. VEND. VEND. VEND.

PRINCIPALSTORAGE

ADMINISTRATION

WORKROOMADMINISTRATION

PURPOSE RMMULTI

MEN'S

WOMEN'S

TEACHER'S LOUNGE

NURSE CLINIC

WORK AREASECRETARY

RECEPTION

PHONE

STORAGE

HALL

HALL

D-104D-103D-107

D-108 D-109D-102

D-100

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X-XX

X-XX

T.R.

T.R.

mailboxes

STOR.D-101A

D-101

STOR.D-105

STOR.D-106

WORKROOMTEACHER'S

MDF

E-102

E-101

T/R

A-137STOREMEN'S

A-135T.R.

OFFICE

B-124

C-118

WORKROOMTEACHER'S

C-117

RESOURCE CENTER

STOR.C-18A

WORKROOM

TEACHER'S

A-136STORAGE

OUT DOOR

BOOTH

BOOK SHELVES

A-106 A-107

A-108

KEY PLANNORTH

LAREDO INDEPENDENT SCHOOL DISTRICT1702 HOUSTON ST. LAREDO, TX., 78040

J.A.F.M.JM.J

09/1/04021502

Approved:Checked:Drawn by:

Date:

Drawing N°

Job N°

A2-0Sht. of. .

TITLE:

FLOOR PLAN

Floor Plan

Partial Plan - A

Partial Plan - B

Partial Plan – C

Partial Plan – D

Front Elevation

Site Plan

Floor Plan


Ryan Elementary (850)1954 Originally Built (45) Total Rooms = 641960 - 9 classrooms Total Bldg = 111980 –cafeteria Sq Ft = 48,1881991 bookroom1992 nurses clinic 1993 -10 classrooms

for ECC



Sq Ft = 87,000 Includes new library, gym, larger cafeteria and music room and art room.

Site Plan

Floor Plan

Highlight of Needs and PFC Plan (Series B)

DD Hachar Elementary (650)1974 Originally Built (20) Total Rooms = 221960 Red School 2 classrooms Total Bldg = 2

Sq Ft = 28,025Additions to School

Total Rooms = 13

Total Bldg = 3

Sq Ft= 58,000 Includes new library, gym, larger cafeteria and music room and art room.


OR PERMIT PURPOSES



Fri, 08-Oct-2004


DATE:#4044

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SITE PLAN

KEY PLAN


OR PERMIT PURPOSES



Fri, 08-Oct-2004


DATE:#4044

JAN-2

STORA

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STOR

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WOMEN

MULTI-PURP

MENS

TEACHERS

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5

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LOUNGEMEN

CURR.SPECI

EXISTINGRECREATIONCENTER

A/C UNIT

MECH

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JANOFFICE

MECHMECH

COMP.TEACHERSLOUNGE

4

CENTER

DOWNRAMP

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LANDING LANDING

LANDINGLANDING

DESK

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24" x 48"

FLOOR PLAN

Highlight of Needs and PFC Plan (Series C)

Christen Middle 1930 Originally Built (84) Total Rooms = 1411960 -3 classrooms Total Bldg = 241965 -35 classrooms Sq Ft = 125,320

& girls gym1976 dressing rooms

band hall /vocational

1987 -8 classrooms1988 -11 classrooms

and gym

Replacement School

Total Rooms = 67

Total Bldg = 24+1=25

Sq Ft= 119,000

OVERALL EXISTING SITE PLAN

CHRISTEN MIDDLE SCHOOL CAMPUS

L.J. CHRISTEN MIDDLE SCHOOL

SAN

TA

MA

RIA

AV

E

PARK ST

CHRISTEN MIDDLE SCHOOL CAMPUS

BOYSGYM

CLASSROOMWINGS

GIRLSGYM

CLASSROOMWINGS

ANNEX BLDG

LIBRARY

MAIN BUILDING

Site Plan

NEW STAFF PARKING

ENTRYWAY

EXIT ONE WAY ONLY

127 SPACES

STAFF ENTRY & EXIT ONLY

STAFF & VISITORS ENTRY & EXIT ONLY

KITCHEN/CAFETORIUM


SOUTH STAFF/LOOP

PARKING

MAIN BLDG.

WEST STAFFPARKING

LIBRARY

BAND HALL

GIRL’S GYM

NORTHWEST CLSRM. WINGS NORTHEAST CLSRM

WINGS

BOYS’GYM

Floor Plan


FLOOR PLAN

Highlight of Needs and PFC Plan (Series C & E)

Martin High (Series C) and Literacy Center (Series E)1937 Originally Built (100) Total Rooms = 1301950 AD Office Total Bldg = 271955 –Building classrooms-10 Sq Ft = 213,132vocational, ROTC, dressingRooms, Special ed, Shirley Field1976 - 7 classrooms, Tigers Den1988 cafeteria, field house1989 3 classrooms1992 1 bookroom &

science wing 10 rooms1994 library

Additions to School

Total Rooms = 49 and band hall

Total Bldg = 27+2=30

Sq Ft= 108,000

MARTIN HIGH SCHOOL

OVERALL EXISTING SITE PLAN

CHRISTENMIDDLE SCHOOL

SHIRLEY

STADIUM

MARTIN

HIGH SCHOOL

PARK STREET

SAN

BE

RN

AR

DO

AV

E.

Site Plan

EXPANSIONKITCHEN

VO

CATIO

NAL

BAND HALL

ACAD

EM

IC

SP ED. LITERACYCENTER

CLASSROOMS

NEW

DEPT.

AREAS

REMODEL

EXPANSION ATHLETICNEW

EXPANSION EXPANSION

DRESSINGGYMNEW

NEWPARKINGN

EW D

RO

P/PI

CK

UP

LOO

P

TE

PARKINGNEW

LL

EXT’G GYM

MAGNET SCHOOL

WELLNESS CETER

MAIN BLDG.

EAST PARKING

ACADEMIC BLDG

BAND HALL

SOUTH PARKING

TENNIS COURTS

MARTIN HIGH SCHOOL

SHIRLEY STADIUM

BAND HALL

SCIENCE

VOC.

SELF. CONT

LIBRARY

FIELD HOUSE

LITERACY CENTER

KITCHEN EXPANSION

VOCATIONAL

Floor Plan

MARTIN HIGH SCHOOL

815

815

726

1ST FLOOR PLAN

MARTIN HIGH SCHOOL

2ND FLOOR PLAN

995

965965

965

815

815

726

MARTIN HIGH SCHOOL

1ST FLOOR PLAN

995

965965

965

2ND FLOOR PLAN

LITERACY CENTERMARTIN HIGH SCHOOL

LITERACY

LITERACY

OFFICE

LITERACY

ELEMENTARY

LITERACY LITERACY LITERACY

LITERACY

Highlight of Needs and PFC Plan (Series D)

Cigarroa High Literacy Center and New Library1983 Originally Built (67) Total Rooms = 671983 PEP Program Total Bldg = 42004 Improvements Sq Ft = 140,904

Additions to School

Total Rooms = 6

Total Bldg = 4+2= 6

Sq Ft= 19,860

Site Plan

Floor Plan

Highlight of Needs and PFC Plan (Series F)

Nixon Literacy Center1964 Originally Built (83) Total Rooms = 1371976 -3 classrooms Total Bldg = 301985 -18 classrooms Sq Ft = 224,7321987 - 8 classrooms &

field house1987 15 classrooms,

cafeteria &Nixon Annex

1996 Band Hall2004 Wellness Center -10

Addition to School

Total Rooms = 6

Total Bldg = 30+1= 31

Sq Ft= 9,500


OR PERMIT PURPOSES



Thu, 07-Oct-2004


DATE:#4044

SLO

PE

1:20

1:50SLOPE

1:20

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77 CARS THIS BLOCK

LITERACY CENTER9,434 S.F.

PO

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27

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SITE PLAN


OR PERMIT PURPOSES



Thu, 07-Oct-2004


DATE:#4044

CLASSROOMCLASSROOMCLASSROOMCLASSROOM

CLASSROOMCOMPUTER

CLASSROOM ROOMWORK

OFFICE

MDF MECH

STOR.

PORCH

PORCH

FLOOR PLAN

CFO’s Financing Plans

Financing Plan and Official Statement

• $75,200,000 PFC Bond Sale

• Nov 10th

Pricing Date• Dec 16th

Closing Date

Amount of State Aid

$4,500,000

Local Funds

$1,000,000 Budgeted in 04-05

Financing Detail to be

distributed at the meeting.

Laredo ISD PFC-Legal Structure• Multiple Project Notices – LISD published four separate project

notices based on flexibility and available TEA Instructional Facilities Allotment (IFA) funds and ranking

• Structure – Based on four separate notices, Series 2004-A, B, C D, E, F with separate financing documents and collateralization (trust agreement, lease agreements, deeds of trust and construction contracts.)

Series 2004-A, B, C, D, E & F• Series 2004-A – Approximately $33.550M Bonds issued to finance projects at

Buenos Aires, Daiches, Leyendecker and Ryan Elementary Schools

• Series 2004-B – Approximately $6.5M Bonds issued to finance DD Hachar Elementary School

• Series 2004-C – Approximately $26.570M Bonds issued to finance projects at Christen Middle School and Martin High School

• Series 2004-D – Approximately $2.150M Bonds issued to finance a Literacy Center and Library at Cigarroa High School

• Series 2004-E – Approximately $1.4M Bonds issued to finance projects at Martin High Literacy Center

• Series 2004-F – Approximately $4.620M Bonds issued to finance projects at Nixon High Literacy Center

Real Estate Related Legal Issues

• Cross Collateralization – The Series 2004-A Bonds will have cross collateralization of the Buenos Aires, Daiches, Leyendecker and Ryan Elementary School Projects. The Series 2004-C Bonds will have cross collateralization of the Christen Middle School and Martin High School Projects.

• Blanket Easement Issue – Land transferred to the District (PFC) by the City of Laredo for the Buenos Aires, Daiches and Ryan Elementary School project sites contained a blanket easement allowing the placement and access to utility easements anywhere on the land. The District is relocating the existing utilities and the City has agreed to accept a defined easement of the relocated utilities.

• Utility Agreement – Certain projects will be constructed where old buildings currently exist and utilities for other buildings on the same campus that are not part of the project are receiving utility service. Due to the location and some of the requirements of the utility company there may be some limited or restricted access to utilities. The District has agreed to provide for a Utility Agreement which will require the District to provide utilities to the facilities in the event of default on the Bonds and subsequent foreclosure.

• Insurance Coverages – The District is carrying a $5 million umbrella policy on the projects. The amount of insurance required to be carried by the Architects is $1 million. All other insurance coverages, including the District’s all-risk insurance, the Construction Manager at Risk’s insurance on the projects and the Payment and Performance Bonds, will be procured and maintained continuously in effect with respect to the Projects to the extent of the principal amount of the Bonds.

CFO’s Report

Financial Report

• A. Annual Operating Budget Highlights• Major Revenues and Expenditures• Financial Statements• Summary of Finances (Template)• FIRST

• B. New Legislation Impact• Robin Hood Plan

• C. State of Texas Financial Commitment• D. Fund Balance Policy• E. Vibrant Economy www.laredoisd.org

Budget - $156M Projected M&0 Revenues

• State $128,863,341 83%

• Local $27,059,920 16%

• Other $913,000 1%

Includes 4% of collections towards PFC. Or $120,000 x 4 =

$480,000 in local funds and $600,000 in tier 2 funds.

Budget - Revenues (Cont’d)

• Total Tax Rate $1.47411 per $100• $.151200 per $100 for Debt Service• $1.32291 per $100 for Maintenance & Operations

• Adequate capacity to issue new debt• (MAX capacity $1.50 per $100) • Fourth lowest rate in Region.

Budget - State Aid

• TEA Summary of Finances -$128.8M in State Aid including….

• $56.3M Regular• $3.6M Bilingual• $11.8M State Comp• $19.6M Special Ed• $372K Gifted &

Talented• $41.2M Tier 2

Budget - Expenditures• Instruction 62.9%• Instructional Admin 8.5%• Student Services 10.4%• General Admin 4.1%• Plant Maintenance 13.8%• Others .03%

Includes $3,000,000 reserved in Fund Balance due to budgeting at 92% but collecting 96%.

Robin Hood Plan

• Partners with Property Rich School Districts since 1995. • 2003-2004 $8,200,000 Gain• 2004-2005 $6,500,000 Gain• Cost per Weighted Average Daily Attendance (WADA)

in other Districts = Avg. $4,400• Cost per WADA in LISD = $3,956• Avg. = $443 and $3,956 returned to State and $3,956

received from other district

New Legislation Impact /Robin Hood

• Judge Dietz ruled School Finance System unconstitutional and Legislature must now revise it.

• Impact if changed: Protect revenue streams 1. Hold Harmless Clause2. Close the GAP between LISD and

property rich districts

FIRST Rating

• 22 Indicators

• Superior Achievement for 2nd year in a row

• GFOA Award for Excellence in Financial Reporting and Budgeting – 6 yrs in a row

State of Texas Commitment

• Insured Financing

• IFA Commitment for New Debt -82%

• Current Debt Service Relief EDA - 82%

Ranked 13th and received NOGA from TEA on IFA award towards the PFC. $4.5M in State funding for PFC Bond.

Fund Balance Policy

• Goal: Two months operating fund balance policy approved by the Board

• Tier 1 district cash flow is spread over 10 months

• Current Fund Balance is projected at $14Mor 10% of projected expenditures.

EndingFundBalance

Revenues

ExpendituresTransfersIn/Out

BeginningFundBalance

Laredo’s Economy

Economy in LISD• Economy- Vision ‘04

• International Trade• Construction

Activity• Retail & Sales Tax • Population growth

indicators

http://www.cityoflaredo.com/

International Trade • Over 38% of trade between US & Mexico is done through the Port of Laredo

• Over 1.354Mnorthbound trucks and 1.264M southbound trucks

Source: Real Estate Center at TAMU

Over 163k northbound and over 202ksouthbound rail carsOver 276M lbs Air cargo shipments

Construction Activity

• 3,768 building permits in 2003• $255,715,049 in building value in 2003

Source: Texas Center at TAMIU.

Retail Sales Tax Rebates

• 7% increase in Sales Tax Rebates from 2002

• Strong retail market and trade with Mexico

• $22,863,574 sales tax rebates to the City

Source: Real Estate Center at TAMU.

Population growth indicators

• Fastest growing City in US and Texas and 29th

ranked in growth since 2000• Population Projected at 215,000• 3rd lowest cost of living city in the nation

Source: Real Estate Center at TAMU

Growth IndicatorsIn the past five years:• 15.42% increase in work

force and in employed persons

• 28.57% increase in total wages

• 12.04% increase in number of employers

• 24.44% increase in electric connections

Source: Laredo Development Foundation

Summary: Financing Plan

1. IFA -State Support = 82%2. Bond Insured3. Strong collection effort = 96%+4. M&O Capacity 5. WADA Contracts6. Controlled growth7. Planned expenditures8. FIRST Superior Achievement - 2

yrs9. GFOA Recognition – 6 yrs10. Proven Leadership

Q & AAdditional questions, please contact:

Donald Gonzales, Estrada Hinojosa & Co. Inc. Financial Advisor

phone = (210) 223-4888fax = (210) 223-4849cell = (210) 393-3010email = [email protected]

Jesus J. Amezcua, CPAChief Financial Officer

phone = (956) 795-3254fax = (956) 795-3253cell = (956) 324-9827e-mail = [email protected]

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