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Favorable ratings affirmed for Fort Worth drainage bonds

Posted April 19, 2018

Fitch Ratings has assigned favorable ratings to City of Fort Worth bonds used for its stormwater utility.

The city’s approximately $114.9 million drainage utility system revenue bonds were rated AA+ by Fitch this month.

“The bonds are secured by a very stable and predictable revenue stream with the fixed drainage fee comprising a nominal 7 percent of the total utility bill,” Fitch reported in a news release. “The drainage fee is collected with water and sewer charges, and nonpayment of any portion of the bill results in termination of water services.”

Fitch noted that while the stormwater utility has reported healthy annual operating surpluses since its inception in 2006, capital needs have been placed at $1.5 billion, to be completed over 40 years. The city has identified up to $400 million in projects that are necessary to address critical flooding and erosion issues around Fort Worth.

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Building Standards Commission Pre-Meeting: 10 a.m. May 21, 2018; City Hall, 2nd Floor, Council Conference Room 290, 200 Texas Street.
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Building Standards Commission Public Hearing: 10:30 a.m. May 21, 2018; City Hall, 2nd Floor, Council Chamber, 200 Texas Street.
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Task Force on Race and Culture: 3:30 p.m. May 21, 2018; Beborah Beggs Mocrief Garden Center, Oak Hall, 3220 Botanic Garden Boulevard.
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Trinity Metro Board of Directors Meeting: 3:30 p.m. May 21, 2018; Intermodal Transportation Center, 2nd Floor Community Room, 1001 Jones Street.
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Randol Mill Road Project Meeting: 6:30 p.m. May 21, 2018; Temple Baptist Church - Cafeteria, 6824 Randol Mill Road.

Canceled City Council Work Session: 3 p.m. May 22, 2018; City Hall, Second Floor, Council Conference Room 290, 200 Texas Street.

Canceled City Council Meeting: 7 p.m. May 22, 2018; City Hall, Second Floor, Council Chambers, 200 Texas Street.

Metropolitan Area EMS Authority / MedStar Mobile Healthcare: 10 a.m. May 23, 2018; MedStar Mobile Healthcare, 2900 Alta Mere Drive.
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School Visit - Lunch & Learn: noon May 23, 2018; Atwood Macdonald Elementary .

City Plan Commission Work Session: noon May 23, 2018; City Hall, Second Floor, Council Conference Room 290, 200 Texas Street.
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Fort Worth Professional Fire Fighters Association Collective Bargaining Negotiations: 12:30 p.m. May 23, 2018; IAFF Local 440 Office, 3855 Tulsa Way.
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City Plan Commission Public Hearing: 1:30 p.m. May 23, 2018; City Hall, Second Floor, Council Chambers, 200 Texas Street.
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Budget Stakeholder's Meeting: 3:30 p.m. May 23, 2018; Council Room 290, 200 Texas Street, Fort Worth, TX 76102.

Park and Recreation Advisory Board Meeting: 4 p.m. May 23, 2018; Fort Worth Botanic Garden, Deborah Beggs Memorial Garden Center, 3220 Botanic Garden Boulevard.
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Rolling Town Hall: 6 p.m. May 23, 2018; Ridglea North, Berney Park, 6316 Rosemont Avenue.

Fort Worth Housing Solutions Board of Directors Regular Meeting: 5 p.m. May 24, 2018; FWHS Administrative Office Board Room, 1201 13th Street.
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Fort Worth Affordability Inc: 5 p.m. May 24, 2018; FWHS Administrative Office Board Room, 1201 East 13th Street.
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Westcliff Drainage Improvements Project Open House: 6 p.m. May 24, 2018; Westcliff Elementary School - Auditorium, 4300 Clay Ave.

View the full city calendar.