About

Learn about Fort Worth Bonds, including Featured News, The Team, and Credit Summaries.

Population
850,000
GO Bond Ratings
Aa3/AA/AA/AA+
Bonds Outstanding
$3.37 billion

About Fort Worth, TX

The City of Fort Worth is a political subdivision and municipal corporation of the State, duly organized and existing under the laws of the State, including the City's Home Rule Charter. The City was incorporated in 1873, and first adopted its Home Rule Charter in 1924.

The City operates under a Council/Manager form of government with a City Council comprised of the Mayor and eight Councilmembers. The term of office for the Mayor and the eight Councilmembers is two years. The City Manager is the chief administrative officer for the City.

Some of the services that the City provides are public safety (police and fire protection), streets, water and sanitary sewer utilities, culture-recreation, public transportation, public improvements, planning and zoning, and general administrative services. The 2010 Census population for the City was 741,206, while the estimated 2016 population is 812,238. The City covers approximately 345 square miles.

The Team

Reggie Zeno

CFO

(817) 392-8500

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Alex Laufer

Debt and Compliance Manager

(817) 392-2268

alex.laufer@fortworthtexas.gov

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John Samford

Assistant Director of Finance

(817) 392-2318

john.samford@fortworthtexas.gov

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View Team

Credit Summaries

General Purpose Credit:

The City of Fort Worth is a political subdivision and municipal corporation of the State, duly organized and existing under the laws of the State, including the City's Home Rule Charter. The City was incorporated in 1873, and first adopted its Home Rule Charter in 1924.

The City operates under a Council/Manager form of government with a City Council comprised of the Mayor and eight Councilmembers. The term of office for the Mayor and the eight Councilmembers is two years. The City Manager is the chief administrative officer for the City.

Some of the services that the City provides are public safety (police and fire protection), streets, water and sanitary sewer utilities, culture-recreation, public transportation, public improvements, planning and zoning, and general administrative services. The 2010 Census population for the City was 741,206, while the estimated 2016 population is 812,238. The City covers approximately 345 square miles.

Drainage Utility Credit:

The system is an enterprise fund of the city of Fort Worth, Texas established in fiscal 2006 in response to flash flood problems and federally mandated stormwater-runoff and treatment requirements. All owners of developed property in Fort Worth are charged a user fee for drainage service, except those exempted by state law. This includes residential property owners, businesses, apartment complexes, public facilities, city owned facilities and churches. As of fiscal 2020, the system has over 640,000 billable storm water units.

Special Revenue Credit:

Pledged revenues, related to the City of Fort Worth’s 2017A and 2017B Special Tax Revenue Bonds, consist of the city's combined 9% hotel occupancy tax (HOT), incremental state hotel occupancy and sales and use taxes collected within a specified project financing zone, and airport shared revenues. The bonds are also payable from certain anticipated venue-generated tax revenues, the pledge in relation to the Series 2017A bonds limited to 5% of debt service in a given year.

The project financed with bond proceeds is a multipurpose arena with seating capacity of 14,000 to be used for Fort Worth Livestock Show and Rodeo, concerts, basketball tournaments and other events. The facility, Dickies Arena, opened in November 2019.

Water & Sewer Credit:

The Water and Sewer Department is responsible for providing safe and reliable water and wastewater service with environmental integrity. Fort Worth has a total treatment capacity of 497 million gallons per day for drinking water and 166 million gallons per day for wastewater; with five water treatment plants and one reclamation facility. There are more than 3,336 miles of pipe in the water distribution system and 3,266 miles in the collection system. The system serves more than 1.2 million people in Fort Worth and surrounding areas, which include 30 water wholesale customers, 23 wastewater wholesale wastewater customers and three wholesale reclaimed water customers.

Public Improvement Districts (PIDs), per the Texas Local Government Code Chapter 372,  provide the City of Fort Worth an economic development tool that permits the financing of qualified public improvements which provide a special benefit on a definable part of the City, including both within the city limits and the extra-territorial jurisdiction (ETJ). A PID can finance capital costs and fund supplemental services to meet community needs which could not otherwise be constructed or provided. The costs of the capital improvements and/or supplemental services are paid entirely by special assessment revenues from property owners within the PID who receive special benefits from the capital improvements or services.

Special Assessment/Public Improvement Districts Credit:

Public Improvement Districts (PIDs), per the Texas Local Government Code Chapter 372, provide the City of Fort Worth an economic development tool that permits the financing of qualified public improvements which provide a special benefit on a definable part of the City, including both within the city limits and the extra-territorial jurisdiction (ETJ). A PID can finance capital costs and fund supplemental services to meet community needs which could not otherwise be constructed or provided. The costs of the capital improvements and/or supplemental services are paid entirely by special assessment revenues from property owners within the PID who receive special benefits from the capital improvements or services.

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