Home > News

Favorable ratings affirmed for Fort Worth drainage bonds

Posted April 19, 2018

Archived Content Information and links provided may no longer be accurate.

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.

Get articles like this in your inbox weekly. Subscribe to City News

City News

Calendar

Minority and Women Business Enterprise Advisory Committee: 11:30 a.m. Dec. 14, 2018; James E. Guinn Building, First Floor, Pharma Fab Conference Room #116, 1150 South Freeway.
View the agenda »

Holiday Movie Night at North Tri Community Center: 6 p.m. Dec. 14, 2018; North Tri-Ethnic Community Center, 2950 Roosevelt Ave.

Code Rangers: 9 a.m. Dec. 15, 2018; Hazel Harvey Peace Center for Neighborhoods, 818 Missouri Ave.

Mayor Betsy’s Jingle Bike & Ball: 10 a.m. Dec. 15, 2018; Chesapeake Plaza, 100 Pier 1 Plaza.

Trinity Metro Board of Directors: 3:30 p.m. Dec. 17, 2018; Intermodal Transportation Center, Second Floor, Community Room, 1001 Jones Street.
View the agenda »

Disciplinary Appeal of Three-Day Suspension of Roger Ballard: 9 a.m. Dec. 18, 2018; Bob Bolen Public Safety Complex, Classroom #1134, 505 W. Felix Street.
View the agenda »

Deferred Compensation Oversight Committee Special Meeting: 1:30 p.m. Dec. 18, 2018; Fort Worth City Credit Union Board Room, 2309 Montgomery Street.
View the agenda »

Canceled City Council Work Session: 3 p.m. Dec. 18, 2018; City Council Conference Room 290, Second Floor, City Hall, 200 Texas Street.

Christmas Social at Hillside Community Center: 6 p.m. Dec. 18, 2018; Hillside Community Center, 1201 E. Maddox.

Civil Service Commission: 6 p.m. Dec. 18, 2018; Bob Bolen Public Safety Complex Auditorium, 505 W. Felix Street.
View the agenda »

Canceled City Council Meeting: 7 p.m. Dec. 18, 2018; Council Chambers, Second Floor, City Hall, 200 Texas Street.

Commercial Board of Adjustment Work Session: 8:30 a.m. Dec. 19, 2018; City Hall, Second Floor, Council Conference Room 290, 200 Texas Street.
View the agenda »

Commercial Board of Adjustment Public Hearing: 9:30 a.m. Dec. 19, 2018; City Hall, Second Floor, Council Chambers, 200 Texas Street.
View the agenda »

Holiday Breakfast and Bingo at Southwest Community Center: 10 a.m. Dec. 19, 2018; Southwest Community Center, 6300 Welch Ave.

Residential Board of Adjustment Work Session: noon Dec. 19, 2018; City Hall, Second Floor, Council Conference Room 290, 200 Texas Street.
View the agenda »

Residential Board of Adjustment Public Hearing: 1 p.m. Dec. 19, 2018; City Hall, Second Floor, Council Chambers, 200 Texas Street.
View the agenda »

Christmas Social at Southside Community Center: 4 p.m. Dec. 19, 2018; Southside Community Center, 959 E. Rosedale.

Christmas Bingo at Doc Session Community Center: 6 p.m. Dec. 19, 2018; Andrew Doc Session Community Center, 201 S. Sylvania.

View the full city calendar and current meetings.