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Favorable ratings affirmed for Fort Worth drainage bonds

Posted April 19, 2018

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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: 9 a.m. Oct. 22, 2018; City Council Conference Room 290, Second Floor, City Hall, 200 Texas Street.
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Building Standards Commission Meeting: 9:30 a.m. Oct. 22, 2018; Council Chambers, Second Floor, City Hall, 200 Texas Street.
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Ad Hoc Municipal Court Advisory Committee: 11:30 a.m. Oct. 22, 2018; City Managers Conference Room 380, Third Floor, City Hall, 200 Texas Street.
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Trinity Metro Board of Directors Meeting: 3:30 p.m. Oct. 22, 2018; Intermodal Transportation Center, Second Floor, Community Room, 1001 Jones Street.
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Hammond Street Drainage Improvements Project Meeting: 6 p.m. Oct. 22, 2018; Victory Forest Community Center, 3427 Hemphill St.

Bellaire Channel Stormwater Maintenance Project Meeting: 6 p.m. Oct. 22, 2018; South Hills Christian Church, 3200 Bilglade Road.

Senior Spooky Social at Hillside: 10 a.m. Oct. 23, 2018; Hillside Community Center, 1201 E. Maddox Ave.

Audit Committee: 2 p.m. Oct. 23, 2018; City Council Conference Room 290, Second Floor, City Hall, 200 Texas Street.
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City Council Work Session: 3 p.m. Oct. 23, 2018; City Council Conference Room 290, Second Floor, City Hall, 200 Texas Street.
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City Council Meeting: 7 p.m. Oct. 23, 2018; Council Chambers, Second Floor, City Hall, 200 Texas Street.
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Metropolitan Area EMS Authority/MedStar Mobile Healthcare: 10 a.m. Oct. 24, 2018; MedStar Mobile Healthcare, 2900 Alta Mere Drive.
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City Plan Commission Work Session: 11:30 a.m. Oct. 24, 2018; City Hall, Second Floor, Council Conference Room 290, 200 Texas Street.
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City Plan Commission Public Hearing: 1:30 p.m. Oct. 24, 2018; City Hall, Second Floor, Council Chambers, 200 Texas Street.
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Park & Recreation Advisory Board Work Session: 3 p.m. Oct. 24, 2018; Diamond Hill Community Center, 1701 Northeast 36th Street.
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Park & Recreation Advisory Board Meeting: 4 p.m. Oct. 24, 2018; Diamond Hill Community Center, 1701 Northeast 36th Street.
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Rolling Townhall: Spooky Bike Ride: 5:30 p.m. Oct. 24, 2018; Western Heritage Plaza (in front of the Museum of Science and History), 1600 Gendy St.

Arlington Heights Stormwater Meeting: 6 p.m. Oct. 24, 2018; Fort Worth Professional Firefighters Hall, 3855 Tulsa Way.

Central Arlington Heights Public Meeting - Voluntary Property Acquisitions: 6 p.m. Oct. 24, 2018; Fort Worth Professional Firefighters Hall, 3855 Tulsa Way.

Emergency Physicians Advisory Board: 12:30 p.m. Oct. 25, 2018; TCMS Building, 3rd Floor, 555 Hemphill.
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Lights On Afterschool at Greenbriar: 5 p.m. Oct. 25, 2018; Greenbriar Community Center, 5200 Hemphill St.

Fall Festival at Chisholm Trail: 6 p.m. Oct. 25, 2018; Chisholm Trail Community Center, 4936 McPherson Blvd.

Fort Worth Business Plan Competition Finals: 6 p.m. Oct. 25, 2018; TCU Brown Lupton University Union Ballroom, 2901 Stadium Drive.
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Responsible Pet Ownership Class: 6 p.m. Oct. 25, 2018; Chuck Silcox Animal Care & Adoption Center, 4900 Martin Street.

Collective Bargaining Negotiations with International Association of Fire Fighters, Local Union 440: 1:30 p.m. Oct. 26, 2018; IAFF Local 440 Office, 3855 Tulsa Way.
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Lead Safe Community Resource Fair: 4 p.m. Oct. 26, 2018; La Gran Plaza Mall, 4200 South Fwy.

Fall Festival at Diamond Hill: 5 p.m. Oct. 26, 2018; Diamond Hill Community Center, 1701 NE 36th St.

Fall Festival at Hillside: 6 p.m. Oct. 26, 2018; Hillside Community Center, 1201 E. Maddox Ave.

Fall Festival at Greenbriar: 6 p.m. Oct. 26, 2018; Greenbriar Community Center, 5200 Hemphill St.

Fall Festival at Highland Hills: 6 p.m. Oct. 26, 2018; Highland Hills Community Center, 1600 Glasgow Rd..

Fall Festival at Fire Station Community Center: 7 p.m. Oct. 26, 2018; Fire Station Community Center, 1601 Lipscomb St.

Fall Festival at R.D. Evans: 7 p.m. Oct. 26, 2018; R.D. Evans Community Center, 3242 Lackland Rd..

Overcoming Trauma Domestic Violence Youth & Families Summit and Community Resource Fair: 9 a.m. Oct. 27, 2018; Christ Chapel Bible Church, 3701 Birchman Ave.
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Everything You Need to Start a Business: 9 a.m. Oct. 27, 2018; Business Assistance Center at the Guinn Campus, 1150 South Freeway.
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Restaurant Boot Camp: For New and Existing Restaurant Owners: 9 a.m. Oct. 27, 2018; Business Assistance Center at the Guinn Campus, 1150 South Freeway.
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Fall Festival at Andrew Doc Session: 10 a.m. Oct. 27, 2018; Andrew Doc Session Community Center, 201 S. Sylvania Ave.

Halloween Carnival at North Tri-Ethnic: 10 a.m. Oct. 27, 2018; North Tri-Ethnic Community Center, 2950 Roosevelt Ave.

Fall Festival at Southside: 11 a.m. Oct. 27, 2018; Southside Community Center, 959 E. Rosedale St.

Fall Festival at Northside: 2 p.m. Oct. 27, 2018; Northside Community Center, 1100 NW 18th St.

View the full city calendar and current meetings.