HomeMy WebLinkAbout4 Financing Corp - Annual Report and Financials
ACTION Annual ReportsFinancing Corporation Annual ReportsFinancing Corporation July 20, 2016 4ITEM #
Financing Corporation Annual Reports report and audited financial statementsThe Financing Corporation Board reviews and approves the annual •on behalf of the DistrictLegal entity created
to issue and administer Certificates of Participation •Truckee Donner Public Utility District Financing Corporation •BACKGROUND / HISTORY Financing Corporation Annual Reports
NEW INFORMATION TDPUD Audited Financial Statement•Newly refunded Series 2015 Certificate of Participation (2015 COP)•Participation (2006 COP)portion of Series 2006 Certificate of unrefundedRemaining
•Water Utility•requirements for bonds held by the District2015 annual disclosure report satisfies annual continuing disclosure •ReportsCorporation Annual Financing ReportsCorporation
Annual Financing
NEW INFORMATION In 2015 debt service coverage was 1.62 (1.25 required)•5 years of historical debt coverage calculations•Golf courses, mobile home parks, TDA, TDRPD and TTUSD•10 largest
customers (usage is 21.6% of sales)•In 2015: $10.2 million•14 years of historical revenues•In 2015: 1.3 billion gallons and 12,716 customers•15 years of historical production and
customers•Annual report for the 2006 COP and 2015 COP•ReportsCorporation Annual Financing ReportsCorporation Annual Financing
FISCAL IMPACT There is no direct fiscal impact associated with this item•ReportsCorporation Annual Financing ReportsCorporation Annual Financing
RECOMMENDATION Accept the 2015 annual report and audited financial statements•ReportsCorporation Annual Financing ReportsCorporation Annual Financing