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HomeMy WebLinkAbout2022-4379 - Ordinance - 08/17/2022CERTIFICATE FOR ORDINANCE THE STATE OF TEXAS BRAZOS COUNTY CITY OF COLLEGE STATION We, the undersigned officers of the City Council of the City of College Station hereby certify as follows: 1. The City Council of the City convened in a special meeting on August 17, 2022, at the regular designated meeting place, and the roll was called of the duly constituted officers and members of the City Council, to wit: Karl Mooney, Mayor Bob Brick, Place 1 Councilman John Crompton, Place 2 Councilman Linda Harvell, Place 3 Councilwoman Elizabeth Cunha; Place 4 Councilwoman John Nichols, Place 5 Councilman Dennis Maloney, Place 6 Councilman and all of the persons were present thus constituting a quorum. Whereupon, among other business the following was transacted at the Meeting: a written ORDINANCE CALLING A BOND ELECTION was duly introduced for the consideration of the City Council. It was then duly moved and seconded that the Ordinance be passed; and, after due discussion, the motion, carrying with it the passage of the Ordinance, prevailed and carried, with all members of the City Council shown present above voting "Aye," except as noted below: NAYS: 0 ABSTENTIONS: 0 2. A true, full, and correct copy of the Ordinance passed at the Meeting described in the above and foregoing paragraph is attached to and follows this Certificate; the Ordinance has been duly recorded in the City Council's minutes of the Meeting; the above and foregoing paragraph is a true, full, and correct excerpt from the City Council's minutes of the Meeting pertaining to the passage of the Ordinance; the persons named in the above and foregoing paragraph are the duly chosen, qualified, and acting officers and members of the City Council as indicated therein; that each of the officers and members of the City Council was duly and sufficiently notified officially and personally, in advance, of the time, place, and purpose of the Meeting, and that the Ordinance would be introduced and considered for passage at the Meeting, and each of the officers and members consented, in advance, to the holding of the Meeting for such purpose; and that the Meeting was open to the public, and public notice of the time, place, and purpose of the Meeting was given all as required by the Texas Government Code, Chapter 551. Certificate for Ordinance Calling a Bond Election City of College Station 3. The City Council has approved and hereby approves the Ordinance; and the Mayor and City Secretary hereby declare that their signing of this certificate shall constitute the signing of the attached and following copy of the Ordinance for all purposes. SIGNED AND SEALED ON AUGUST 17, 2022 Tanya D. Smith; City Secretary Karl Mooney; Mayor (CITY SEAL) ORDINANCE NO. 2022-4379 AN ORDINANCE CALLING A BOND ELECTION TO BE HELD ON NOVEMBER 8, 2022 THE STATE OF TEXAS BRAZOS COUNTY CITY OF COLLEGE STATION WHEREAS, the City Council (the "Council") of the City of College Station, Texas (the "City") deems it advisable to call the bond election hereinafter ordered (the "Election"); and WHEREAS, the bond referendum is held in accordance with the provisions of Chapter 1251, Texas Government Code, and various provisions of the Texas Election Code (the "Code"), including Section 42.002 of the Code, and the City is contracting with Brazos County, Texas (the "County") for the administration of the Election pursuant to an interlocal agreement with the County (the "Election Contract"); and WHEREAS, the County, acting through the Brazos County Elections Administrator (the "Elections Administrator") in accordance with the Election Contract, will provide for the administration of the Election for residents of the City; and WHEREAS, it is hereby officially found and determined that the meeting at which this Ordinance was adopted was open to the public, and public notice of the time, place and purpose of the meeting was given, all as required by Chapter 551, Texas Government Code; THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF COLLEGE STATION: Section 1. The statements contained in the preamble of this Ordinance are true and correct and adopted as findings of fact and operative provisions hereof. Section 2. Election Ordered; Polling Places. The Election shall be held in the City between the hours of 7:00 a.m. and 7:00 p.m. on November 8, 2022 ("Election Day"). The Election is to be conducted with, and administered by, Brazos County, as provided by Chapter 271 of the Texas Election Code (the "Code"), and the Election Contract. Voting for the Election on Election Day and Early Voting shall occur on the dates and during the hours and at the designated polling places as set forth in Exhibit "A" attached hereto, which exhibit is hereby made a part hereof for all intents and purposes. Exhibit "A" shall be modified to include additional or different Election Day polling places required to conform to the Election Contract and the Code. Section 3. Early Voting. Early voting shall be administered by Brazos County. Early Voting by personal appearance shall begin on October 24, 2022 and conclude on November 4, 2022, and will be conducted at the Early Voting locations on the dates and at the times specified in Exhibit "A" attached hereto. The early voting polling places shall remain open during such hours for early voting by personal appearance for any registered voter of the City at such voting place. Exhibit "A" shall be modified to include additional or different early voting polling places required to conform to the Election Contract and the Code. City of College Station 2022-4379 Ordinance Calling a Bond Election 2 Section 4. Election Officials. The appointment of the Presiding Election Judges, Alternate Judges, Early Voting Clerks, the Presiding Judge of the early ballot board and other election officials for the Election shall be made by the Elections Administrator in accordance with the Election Contract and the Code. The Elections Administrator may employ other personnel necessary for the proper administration of the Election, including such part-time help as is necessary to prepare for the Election, to ensure the timely delivery of supplies during early voting and on Election Day, and for the efficient tabulation of ballots at the central counting station. Section 5. Voting by Mail. Applications for voting by mail for all residents of the City shall submitted by personal delivery or shall be mailed to the address below prior to the deadline prescribed by law: Postal Mail and Commercial Carrier or Personal Delivery Brazos County Elections Administration Office 300 East WM J Bryan Pkwy Suite 100 Bryan, TX 77803 Telephone (979) 361-5770 Fax (979) 361-5779 Email BrazosVotes@brazoscountytx.gov Section 6. Early Voting Ballots. An Early Voting Ballot Board shall be created to process early voting results of the Election, and the Presiding Judge of the Early Voting Ballot Board shall be designated by the Elections Administrator. The Presiding Judge of the Early Voting Ballot Board shall appoint two or more additional members to constitute the Early Voting Ballot Board members and, if needed, the Signature Verification Committee members required to efficiently process the early voting ballots. Section 7. Qualified Voters. All qualified electors of and residing in the City, shall be entitled to vote at the Election. Section 8. Propositions. At the Election the following PROPOSITIONS shall be submitted in accordance with law: CITY OF COLLEGE STATION SPECIAL ELECTION CITY OF COLLEGE STATION PROPOSITION A Shall the City Council of the City of College Station, Texas, be authorized to issue and sell bonds in the aggregate principal amount of $18,000,000 for the public purpose of constructing, designing, improving and equipping a new fire station and acquisition of fire trucks and public safety equipment, and the acquisition of land and interest in land for such projects, with the bonds to be issued in one or more series, to mature serially or otherwise not to exceed 25 years from their date, and bear interest at such rate or rates, not to exceed the limits prescribed by law at the time of issuance, and to be sold at such prices or rates, as the City Council in its discretion shall determine; and shall there be levied and pledged, assessed and collected annually ad valorem taxes on all taxable property in said City in an amount sufficient to pay the annual interest on said bonds and provide a sinking fund to pay said bonds at maturity? City of College Station 2022-4379 Ordinance Calling a Bond Election 3 CITY OF COLLEGE STATION SPECIAL ELECTION CITY OF COLLEGE STATION PROPOSITION B Shall the City Council of the City of College Station, Texas, be authorized to issue and sell bonds in the aggregate principal amount of $16,100,000 for the public purpose of constructing, designing, improving, extending and expanding transportation and mobility infrastructure consisting of the following: Rock Prairie Road East corridor from Town Lake Drive to William D Fitch Parkway, including related utility relocation, drainage, traffic signals and control, lighting, sidewalks, bike lanes and landscaping, the purchase of any necessary land and right-of-way in connection with these projects, with the bonds to be issued in one or more series, to mature serially or otherwise not to exceed 25 years from their date, and bear interest at such rate or rates, not to exceed the limits prescribed by law at the time of issuance, and to be sold at such prices or rates, as the City Council in its discretion shall determine; and shall there be levied and pledged, assessed and collected annually ad valorem taxes on all taxable property in said City in an amount sufficient to pay the annual interest on said bonds and provide a sinking fund to pay said bonds at maturity? CITY OF COLLEGE STATION SPECIAL ELECTION CITY OF COLLEGE STATION PROPOSITION C Shall the City Council of the City of College Station, Texas, be authorized to issue and sell bonds in the aggregate principal amount of $30,400,000 for the public purpose of constructing, designing, improving and equipping parks and recreational facilities consisting of the following: natural and synthetic turf field improvements at Veterans Park; new playing fields, restrooms, concessions and seating, drainage, parking, lighting, sidewalks and trails at Texas Independence Ballpark, with the bonds to be issued in one or more series, to mature serially or otherwise not to exceed 25 years from their date, and bear interest at such rate or rates, not to exceed the limits prescribed by law at the time of issuance, and to be sold at such prices or rates, as the City Council in its discretion shall determine; and shall there be levied and pledged, assessed and collected annually ad valorem taxes on all taxable property in said City in an amount sufficient to pay the annual interest on said bonds and provide a sinking fund to pay said bonds at maturity? City of College Station 2022-4379 Ordinance Calling a Bond Election 4 CITY OF COLLEGE STATION SPECIAL ELECTION CITY OF COLLEGE STATION PROPOSITION D Shall the City Council of the City of College Station, Texas, be authorized to issue and sell bonds in the aggregate principal amount of $22,000,000 for the public purpose of constructing, designing, improving and equipping parks and recreational facilities consisting of the following: demolition and reconstruction of restrooms, concession and storage space for the Bachmann Little League Building and Senior League/Soccer Building; pickleball and futsal courts at Anderson Park including lighting, parking and restrooms; demolition and reconstruction of the Central Park Operations Shop facility; pavilions, lighting, shade areas, irrigation, sidewalks, pathways, playgrounds/recreational areas, historical markers and signage at Mabel Clare Thomas Park; tennis courts, lighting and fencing at Bee Creek and Central Parks; restrooms, sidewalks and pathways at Lincoln Center/W.A. Tarrow Park, with the bonds to be issued in one or more series, to mature serially or otherwise not to exceed 25 years from their date, and bear interest at such rate or rates, not to exceed the limits prescribed by law at the time of issuance, and to be sold at such prices or rates, as the City Council in its discretion shall determine; and shall there be levied and pledged, assessed and collected annually ad valorem taxes on all taxable property in said City in an amount sufficient to pay the annual interest on said bonds and provide a sinking fund to pay said bonds at maturity? CITY OF COLLEGE STATION SPECIAL ELECTION CITY OF COLLEGE STATION PROPOSITION E Shall the City Council of the City of College Station, Texas, be authorized to issue and sell bonds in the aggregate principal amount of $3,900,000 for the public purpose of constructing, designing and equipping a swimming pool including related water features, splash pad and restrooms at Mabel Clare Thomas Park, with the bonds to be issued in one or more series, to mature serially or otherwise not to exceed 25 years from their date, and bear interest at such rate or rates, not to exceed the limits prescribed by law at the time of issuance, and to be sold at such prices or rates, as the City Council in its discretion shall determine; and shall there be levied and pledged, assessed and collected annually ad valorem taxes on all taxable property in said City in an amount sufficient to pay the annual interest on said bonds and provide a sinking fund to pay said bonds at maturity? Section 9. Ballots. The official ballots for the Election shall be prepared in accordance with the Texas Election Code to permit voters to vote "FOR" or "AGAINST" the aforesaid PROPOSITIONS with the ballots to contain such provisions, markings and language as required by law, and with such PROPOSITIONS to be expressed substantially as follows: CITY OF COLLEGE STATION SPECIAL ELECTION CITY OF COLLEGE STATION PROPOSITION A City of College Station 2022-4379 Ordinance Calling a Bond Election 5 FOR ______ AGAINST ______ ) ) ) ) ) ) THE ISSUANCE OF $18,000,000 IN BONDS FOR A NEW FIRE STATION AND EQUIPMENT AND LEVYING A TAX SUFFICIENT TO PAY THE PRINCIPAL OF AND INTEREST ON THE BONDS CITY OF COLLEGE STATION SPECIAL ELECTION CITY OF COLLEGE STATION PROPOSITION B FOR ______ AGAINST ______ ) ) ) ) ) ) THE ISSUANCE OF $16,100,000 IN BONDS FOR TRANSPORTATION AND MOBILITY INFRASTRUCTURE AND LEVYING A TAX SUFFICIENT TO PAY THE PRINCIPAL OF AND INTEREST ON THE BONDS CITY OF COLLEGE STATION SPECIAL ELECTION CITY OF COLLEGE STATION PROPOSITION C FOR ______ AGAINST ______ ) ) ) ) ) ) THE ISSUANCE OF $30,400,000 IN BONDS FOR IMPROVEMENTS AT VETERANS PARK AND TEXAS INDEPENDENCE BALLPARK AND LEVYING A TAX SUFFICIENT TO PAY THE PRINCIPAL OF AND INTEREST ON THE BONDS CITY OF COLLEGE STATION SPECIAL ELECTION CITY OF COLLEGE STATION PROPOSITION D FOR ______ AGAINST ______ ) ) ) ) ) ) THE ISSUANCE OF $22,000,000 IN BONDS FOR PARKS AND RECREATIONAL FACILITIES AND LEVYING A TAX SUFFICIENT TO PAY THE PRINCIPAL OF AND INTEREST ON THE BONDS City of College Station 2022-4379 Ordinance Calling a Bond Election 6 CITY OF COLLEGE STATION SPECIAL ELECTION CITY OF COLLEGE STATION PROPOSITION E FOR ______ AGAINST ______ ) ) ) ) ) ) THE ISSUANCE OF $3,900,000 IN BONDS FOR A NEW SWIMMING POOL AT MABEL CLARE THOMAS PARK AND LEVYING A TAX SUFFICIENT TO PAY THE PRINCIPAL OF AND INTEREST ON THE BONDS Section 10. Compliance with Federal Law. In all respects, the Election shall be conducted in accordance with the Code. Pursuant to the federal Help America Vote Act ("HAVA") and the Code, at each polling place there shall be at least one voting system that is equipped for disabled individuals, and each such voting system shall be a system that has been certified by the Texas Secretary of State as compliant with HAVA and the Code. The City hereby finds that the voting system to be used by the Elections Administrator in administering the Election is such a system, and orders that such voting equipment or other equipment certified by the Texas Secretary of State shall be used by the City in its elections. Section 11. The City Council hereby authorizes the Mayor, Mayor Pro Tem, City Secretary or the City Manager of the City to execute or attest on behalf of the City the Election Contract with the County. Section 12. The following information is provided in accordance with the provisions of Section 3.009(b), Texas Election Code. (a) The proposition language that will appear on the ballot is set forth in Section 9 hereof. (b) The purpose for which the bonds are to be authorized is set forth in Section 8 hereof. (c) The principal amount of the debt obligations to be authorized is $18,000,000 for Proposition A; $16,100,000 for Proposition B; $30,400,000 for Proposition C; $22,000,000 for Proposition D and $3,900,000 for Proposition E. (d) If the bonds are approved by the voters, the City Council will be authorized to levy annual ad valorem taxes, on all taxable property in the City, sufficient, within the legal limit prescribed by law, to pay the principal of and interest on the bonds and the cost of any credit agreements executed in connection with the bonds. (e) Based upon the bond market conditions at the date of adoption of this Ordinance, the maximum interest rate for any series of the bonds is estimated to be 5.00%. Such estimate takes into account a number of factors, including the issuance schedule, maturity schedule and the expected bond ratings of the proposed bonds. Such estimated maximum interest rate is provided as a matter of information, but is not a limitation on the interest rate at which the bonds or notes, or any series thereof, may be sold. (f) If the bonds are approved, they may be issued in one or more series, to mature serially, over a period not to exceed twenty-five years from the date of issuance of each series of bonds. (g) The aggregate amount of the outstanding principal of the City’s debt obligations as of the date of this Ordinance is $432,070,000. (h) The aggregate amount of the outstanding interest of the City’s debt obligations as of the date of this Ordinance is $132,804,458. City of College Station 2022-4379 Ordinance Calling a Bond Election 7 (i) The ad valorem debt service tax rate for the City as of the date of this Ordinance is $.2164 per $100 of taxable assessed valuation. (j) The website for the City, the authority ordering the Election, is https://www.cstx.gov and the website for Brazos County, the entity administering election duties, is https://www.brazoscountytx.gov. Section 13. Effective Date. This Ordinance shall be in full force and effect from and after its passage, and it is so ordained. PASSED, ADOPTED and APPROVED this 17th day of August 2022. ATTEST: APPROVED: _____________________________ _____________________________ City Secretary Mayor APPROVED: _______________________________ City Attorney _______________________________ Bond Counsel City of College Station Ordinance Calling a Bond Election A-1 EXHIBIT A Early Voting Location Dates and Times BRAZOS COUNTY EARLY VOTING (VOTACION ADELANTADA DEL CONDADO DE BRAZOS) October 24th – 28th (Monday – Friday) 7:00am – 7:00pm October 29th (Saturday) 7:00am – 7:00pm October 30th (Sunday) 10:00am – 4:00pm October 31st – November 4th (Monday – Friday) 7:00am – 7:00pm 24 de octubre – 28 de octubre (lunes – viernes) 7:00 am – 7:00 pm 29 de octubre (sabado) 7:00am – 7:00pm 30 de octubre (domingo) 10:00am – 4:00pm 31 de octubre – 4 de noviembre (lunes – viernes ) 7:00am – 7:00pm Brazos County Election Administrator Office (McLeod Training Rm) –300 East Wm. J. Bryan Pkwy, Suite 100, Bryan, Texas Arena Hall – 2906 Tabor Road, Bryan, Texas Galilee Baptist Church – 804 N. Logan, Bryan, Texas College Station Utilities Meeting & Training Facility – 1603 Graham Road, College Station, Texas College Station City Hall – 1101 Texas Avenue, College Station, Texas Election Day Voting Location and Hours November 8, 2022 Polls open from 7:00 am to 7:00 pm 1. Millican Community Center; 22284 Pierce Street. Millican, Tx 2. College Station Meeting and Training Facility 1603 Graham Road. College Station 3. Galilee Baptist Church; 804 N. Logan. Bryan, Tx 8447 4. Zion Church of Kurten; 977 N. FM 2038. Kurten, Tx 5. Parkway Baptist Church; 1501 Southwest Pkwy. College Station, Tx 6. College Heights Assembly of God; 4100 Old College Rd. Bryan, Tx 7. First Baptist Church – Bryan; 3100 Cambridge Drive. Bryan, Tx 8. Beacon Baptist Church; 2001 East Villa Maria Road. Bryan, Tx 9. Bryan Ballroom; 701 Palasota Dr. Bryan, Tx 10. Brazos County Election Admin. Office; Ruth McLeod Training Room; 300 East Wm. J. Bryan Pkwy, Suite 100. Bryan, Tx 11. Memorial Student Center-RM 2406 (2nd floor); Texas A&M Campus. College Station, Tx 12. New Zion Missionary Baptist Church; 1505 Dansby Street. Bryan, Tx 77803 13. Texas A&M College of Medicine; 8447 Riverside Parkway. Bryan, Tx 14. Lincoln Center; 1000 Eleanor. College Station, Tx City of College Station Ordinance Calling a Bond Election A-2 15. College Station City Hall (Bush 4141 cmty.rm); 1101 Texas Avenue. College Station, Tx 16. College Station ISD Admin. Bldg; 1812 Welsh. College Station, Tx 17. Fellowship Freewill Baptist Church; 1228 W. Villa Maria Road. Bryan, Tx 18. Castle Heights Baptist Church; 4504 E. Hwy 21. Bryan, Tx 19. St. Francis Episcopal Church; 1101 Rock Prairie Road. College Station, Tx 20. A&M Church of Christ; 2475 Earl Rudder Freeway. College Station. Tx 21. CLOSED 22. Arena Hall; 2906 Tabor Rd . Bryan, Tx 23. Brazos Center; 3232 Briarcrest Drive. Bryan, Tx 24. Wellborn Baptist Church; 14575 FM 2154 Rd. College Station, Tx 25. Living Hope Baptist Church; 4170 State Highway 6 south. College Station, Tx 26. Church Of The Nazarene; 2122 E. William J Bryan Pkwy. Bryan, Tx Voter Information Document – City of College Station Special Election Proposition A The following information is prepared to comply with Tex. H.B. 477 86th Leg., R.S. (2019) and is for illustration purposes only. The information is not a part of the proposition to be voted on and does not create a contract with the voters. At the Election, the following language will appear on the ballot: CITY OF COLLEGE STATION SPECIAL ELECTION CITY OF COLLEGE STATION PROPOSITION A FOR ______ AGAINST ______ ) ) ) ) ) ) THE ISSUANCE OF $18,000,000 IN BONDS FOR A NEW FIRE STATION AND EQUIPMENT AND LEVYING A TAX SUFFICIENT TO PAY THE PRINCIPAL OF AND INTEREST ON THE BONDS The following table sets forth the estimated principal amount of, and interest due to maturity on, the bonds to be issued if Proposition A passes, and all outstanding obligations of the City secured by and payable from ad valorem taxes. Principal Amount of Bonds to be authorized Estimated interest for Bonds to be authorized (1) Estimated combined principal and interest required to pay on time and in full the Bonds to be authorized (1) Principal of City’s Existing Outstanding Debt (as of 8/17/22) Remaining interest on City’s Existing Outstanding Debt (as of 8/17/22) Combined Principal and Interest to timely pay City’s Outstanding Debt (as of 8/17/22) $18,000,000 $11,050,250 $29,050,250 $432,070,000 $132,804,458 $564,874,458 (1) The interest on the proposed bonds was estimated at a rate of 5.00% based on market conditions as of August 17, 2022, and therefore, the interest payable on the proposed bonds may be less than, or more than, the amounts set forth above based on market conditions at the time of sale of the proposed bonds. The Proposition intends to issue the bonds authorized over a period of years in a manner in accordance with a schedule to be determined by the City Council based upon a number of factors, including, but not limited to, the then current needs of the City, demographic changes, prevailing market conditions, assessed valuations of property in the City and management of the City’s short-term and long-term interest rate exposure. The bonds are expected to be issued in multiple years whereby there is no expected impact above the current tax rate. However, in order to illustrate the possible maximum tax rate impact, the City has assumed the bonds would be issued in one Series. Based on the information and assumptions provided in the table above, the estimated maximum annual increase in the amount of taxes that would be imposed on a residence homestead in the City with a taxable appraised value of $100,000 to repay the proposed bonds, if approved, is $.0070. This estimate takes into consideration the City’s assessed growth valuation of 13.32% for tax year 2023, and assumes annual growth of the City’s taxable assessed valuation between 2.5% and 7.5% for each year thereafter. Voter Information Document – City of College Station Special Election Proposition B The following information is prepared to comply with Tex. H.B. 477 86th Leg., R.S. (2019) and is for illustration purposes only. The information is not a part of the proposition to be voted on and does not create a contract with the voters. At the Election, the following language will appear on the ballot: CITY OF COLLEGE STATION SPECIAL ELECTION CITY OF COLLEGE STATION PROPOSITION B FOR ______ AGAINST ______ ) ) ) ) ) ) THE ISSUANCE OF $16,100,000 IN BONDS FOR TRANSPORTATION AND MOBILITY INFRASTRUCTURE AND LEVYING A TAX SUFFICIENT TO PAY THE PRINCIPAL OF AND INTEREST ON THE BONDS The following table sets forth the estimated principal amount of, and interest due to maturity on, the bonds to be issued if Proposition B passes, and all outstanding obligations of the City secured by and payable from ad valorem taxes. Principal Amount of Bonds to be authorized Estimated interest for Bonds to be authorized (1) Estimated combined principal and interest required to pay on time and in full the Bonds to be authorized (1) Principal of City’s Existing Outstanding Debt (as of 8/17/22) Remaining interest on City’s Existing Outstanding Debt (as of 8/17/22) Combined Principal and Interest to timely pay City’s Outstanding Debt (as of 8/17/22) $16,100,000 $9,881,917 $25,981,917 $432,070,000 $132,804,458 $564,874,458 (1) The interest on the proposed bonds was estimated at a rate of 5.00% based on market conditions as of August 17, 2022, and therefore, the interest payable on the proposed bonds may be less than, or more than, the amounts set forth above based on market conditions at the time of sale of the proposed bonds. The Proposition intends to issue the bonds authorized over a period of years in a manner in accordance with a schedule to be determined by the City Council based upon a number of factors, including, but not limited to, the then current needs of the City, demographic changes, prevailing market conditions, assessed valuations of property in the City and management of the City’s short-term and long-term interest rate exposure. The bonds are expected to be issued in multiple years whereby there is no expected impact above the current tax rate. However, in order to illustrate the possible maximum tax rate impact, the City has assumed the bonds would be issued in one Series. Based on the information and assumptions provided in the table above, the estimated maximum annual increase in the amount of taxes that would be imposed on a residence homestead in the City with a taxable appraised value of $100,000 to repay the proposed bonds, if approved, is $.0063. This estimate takes into consideration the City’s assessed growth valuation of 13.32% for tax year 2023, and assumes annual growth of the City’s taxable assessed valuation between 2.5% and 7.5% for each year thereafter. Voter Information Document – City of College Station Special Election Proposition C The following information is prepared to comply with Tex. H.B. 477 86th Leg., R.S. (2019) and is for illustration purposes only. The information is not a part of the proposition to be voted on and does not create a contract with the voters. At the Election, the following language will appear on the ballot: CITY OF COLLEGE STATION SPECIAL ELECTION CITY OF COLLEGE STATION PROPOSITION C FOR ______ AGAINST ______ ) ) ) ) ) ) THE ISSUANCE OF $30,400,000 IN BONDS FOR IMPROVEMENTS AT VETERANS PARK AND TEXAS INDEPENDENCE BALLPARK AND LEVYING A TAX SUFFICIENT TO PAY THE PRINCIPAL OF AND INTEREST ON THE BONDS The following table sets forth the estimated principal amount of, and interest due to maturity on, the bonds to be issued if Proposition C passes, and all outstanding obligations of the City secured by and payable from ad valorem taxes. Principal Amount of Bonds to be authorized Estimated interest for Bonds to be authorized (1) Estimated combined principal and interest required to pay on time and in full the Bonds to be authorized (1) Principal of City’s Existing Outstanding Debt (as of 8/17/22) Remaining interest on City’s Existing Outstanding Debt (as of 8/17/22) Combined Principal and Interest to timely pay City’s Outstanding Debt (as of 8/17/22) $30,400,000 $18,661,833 $49,061,833 $432,070,000 $132,804,458 $564,874,458 (1) The interest on the proposed bonds was estimated at a rate of 5.00% based on market conditions as of August 31, 2022, and therefore, the interest payable on the proposed bonds may be less than, or more than, the amounts set forth above based on market conditions at the time of sale of the proposed bonds. The Proposition intends to issue the bonds authorized over a period of years in a manner in accordance with a schedule to be determined by the City Council based upon a number of factors, including, but not limited to, the then current needs of the City, demographic changes, prevailing market conditions, assessed valuations of property in the City and management of the City’s short-term and long-term interest rate exposure. The bonds are expected to be issued in multiple years whereby there is no expected impact above the current tax rate. However, in order to illustrate the possible maximum tax rate impact, the City has assumed the bonds would be issued in one Series. Based on the information and assumptions provided in the table above, the estimated maximum annual increase in the amount of taxes that would be imposed on a residence homestead in the City with a taxable appraised value of $100,000 to repay the proposed bonds, if approved, is $.0119. This estimate takes into consideration the City’s assessed growth valuation of 13.32% for tax year 2023, and assumes annual growth of the City’s taxable assessed valuation between 2.5% and 7.5% for each year thereafter. Voter Information Document – City of College Station Special Election Proposition D The following information is prepared to comply with Tex. H.B. 477 86th Leg., R.S. (2019) and is for illustration purposes only. The information is not a part of the proposition to be voted on and does not create a contract with the voters. At the Election, the following language will appear on the ballot: CITY OF COLLEGE STATION SPECIAL ELECTION CITY OF COLLEGE STATION PROPOSITION D FOR ______ AGAINST ______ ) ) ) ) ) ) THE ISSUANCE OF $22,000,000 IN BONDS FOR PARKS AND RECREATIONAL FACILITIES AND LEVYING A TAX SUFFICIENT TO PAY THE PRINCIPAL OF AND INTEREST ON THE BONDS The following table sets forth the estimated principal amount of, and interest due to maturity on, the bonds to be issued if Proposition D passes, and all outstanding obligations of the City secured by and payable from ad valorem taxes. Principal Amount of Bonds to be authorized Estimated interest for Bonds to be authorized (1) Estimated combined principal and interest required to pay on time and in full the Bonds to be authorized (1) Principal of City’s Existing Outstanding Debt (as of 8/17/22) Remaining interest on City’s Existing Outstanding Debt (as of 8/17/22) Combined Principal and Interest to timely pay City’s Outstanding Debt (as of 8/17/22) $22,000,000 $13,500,333 $35,500,333 $432,070,000 $132,804,458 $564,874,458 (1) The interest on the proposed bonds was estimated at a rate of 5.00% based on market conditions as of August 31, 2022, and therefore, the interest payable on the proposed bonds may be less than, or more than, the amounts set forth above based on market conditions at the time of sale of the proposed bonds. The Proposition intends to issue the bonds authorized over a period of years in a manner in accordance with a schedule to be determined by the City Council based upon a number of factors, including, but not limited to, the then current needs of the City, demographic changes, prevailing market conditions, assessed valuations of property in the City and management of the City’s short-term and long-term interest rate exposure. The bonds are expected to be issued in multiple years whereby there is no expected impact above the current tax rate. However, in order to illustrate the possible maximum tax rate impact, the City has assumed the bonds would be issued in one Series. Based on the information and assumptions provided in the table above, the estimated maximum annual increase in the amount of taxes that would be imposed on a residence homestead in the City with a taxable appraised value of $100,000 to repay the proposed bonds, if approved, is $.0086. This estimate takes into consideration the City’s assessed growth valuation of 13.32% for tax year 2023, and assumes annual growth of the City’s taxable assessed valuation between 2.5% and 7.5% for each year thereafter. Voter Information Document – City of College Station Special Election Proposition E The following information is prepared to comply with Tex. H.B. 477 86th Leg., R.S. (2019) and is for illustration purposes only. The information is not a part of the proposition to be voted on and does not create a contract with the voters. At the Election, the following language will appear on the ballot: CITY OF COLLEGE STATION SPECIAL ELECTION CITY OF COLLEGE STATION PROPOSITION E FOR ______ AGAINST ______ ) ) ) ) ) ) THE ISSUANCE OF $3,900,000 IN BONDS FOR A NEW SWIMMING POOL AT MABEL CLARE THOMAS PARK AND LEVYING A TAX SUFFICIENT TO PAY THE PRINCIPAL OF AND INTEREST ON THE BONDS The following table sets forth the estimated principal amount of, and interest due to maturity on, the bonds to be issued if Proposition E passes, and all outstanding obligations of the City secured by and payable from ad valorem taxes. Principal Amount of Bonds to be authorized Estimated interest for Bonds to be authorized (1) Estimated combined principal and interest required to pay on time and in full the Bonds to be authorized (1) Principal of City’s Existing Outstanding Debt (as of 8/17/22) Remaining interest on City’s Existing Outstanding Debt (as of 8/17/22) Combined Principal and Interest to timely pay City’s Outstanding Debt (as of 8/17/22) $3,900,000 $2,391,250 $6,291,250 $432,070,000 $132,804,458 $564,874,458 (1) The interest on the proposed bonds was estimated at a rate of 5.00% based on market conditions as of August 31, 2022, and therefore, the interest payable on the proposed bonds may be less than, or more than, the amounts set forth above based on market conditions at the time of sale of the proposed bonds. The Proposition intends to issue the bonds authorized over a period of years in a manner in accordance with a schedule to be determined by the City Council based upon a number of factors, including, but not limited to, the then current needs of the City, demographic changes, prevailing market conditions, assessed valuations of property in the City and management of the City’s short-term and long-term interest rate exposure. The bonds are expected to be issued in multiple years whereby there is no expected impact above the current tax rate. However, in order to illustrate the possible maximum tax rate impact, the City has assumed the bonds would be issued in one Series. Based on the information and assumptions provided in the table above, the estimated maximum annual increase in the amount of taxes that would be imposed on a residence homestead in the City with a taxable appraised value of $100,000 to repay the proposed bonds, if approved, is $.0015. This estimate takes into consideration the City’s assessed growth valuation of 13.32% for tax year 2023, and assumes annual growth of the City’s taxable assessed valuation between 2.5% and 7.5% for each year thereafter.