www.mymanatee.org
Manatee County Government Administrative Center Manatee Room, Fourth Floor 9:00 a.m. - October 13, 2015
October 13, 2015 - Morning Work Session
Agenda Item #1


Subject
9:00 A.M.: General Government and Transportation Debt

Briefings
None

Contact and/or Presenter Information
Jan Brewer, Department Director
Financial Management Department
Extension 3726

Action Requested

No action required.



Enabling/Regulating Authority
N/A

Background Discussion

The work session on debt will provide two distinct parts for discussion: an overview of the existing debt of Manatee County and an overview of the needed debt issuance as highlighted within the Adopted 2015-16 Budget and the Adopted FY2016 – FY2020 Capital Improvement Program (CIP).

Ed Bulliet from MBS Capital Markets, LLC, our Financial Advisor, will provide the Board with an overview of existing debt, description of types of debt, and an overall analysis of Manatee County’s debt standing.

The second section of the presentation will review the issuance of planned debt for CIP projects. These projects have been identified through the Budget and CIP processes.   Some items have been previously approved by the Board to be advanced from existing funds to be reimbursed through debt issuance.

General Government debt issuance contains a total of nine (9) projects which are identified within the attached document. The issuance would be establishment of fixed debt for the funding of the projects.   Future debt service for these projects will be from Tourist Taxes, State Revenues and recurring General Revenues, which are funded in the FY 2015-16 Adopted budget.

The Transportation debt to be discussed concerns 44th Avenue projects, 45th Street East and 9th Street East (53rd Avenue East – 57th Avenue East) project as identified in the FY 2016-20 Adopted CIP.  Although the 44th Avenue project is a label used to identify the large project, the project is actually broken down into sections. 

The establishment of a credit line is recommended for Transportation debt for the initial costs of design and engineering. Within the FY2017 year, establishment of permanent bond financing would occur and removal of the credit line. This method establishes a conservative use of interest expense during earlier phases of the project.



County Attorney Review
Not Reviewed (No apparent legal issues)

Explanation of Other


Reviewing Attorney
N/A

Instructions to Board Records
Return minutes to Jan Brewer: jan.brewer@mymanatee.org.

Cost and Funds Source Account Number and Name
N/A

Amount and Frequency of Recurring Costs
N/A


Attachment:  Attachment A.pdf
Attachment:  Follow-Up Memo - General Govt & Transportation Debt.pdf