General Obligation Bonds and Letters from Rating Agencies
1. Prospectus of the most recent General Obligation Bond offering: (Attached: City of
Charlotte Preliminary Official Statement.pdf)
Access to future issues can also be obtained through http://emma.msrb.org/; click
Search Securities, “Accept,” then enter Issuer Name of Charlotte and a two-year
date range.
2. Copies of each of the letters from Standard & Poor’s, Moody’s, and Fitch with their
assessment of CLT. (Note: staff interprets the candidate’s request as asking for
rating agency assessments of the Airport by saying “CLT”, but due to uncertainty
about meaning the City as a whole, we are providing agency reports for both the City
and for the Airport:
a.
b.
c.
d.
e.
f.
g.
Fitch report.pdf (City)
S&P report.pdf (City)
Moody’s report.pdf (City)
Fitch Series 2011 GARB.pdf (Airport)
Moody’s Series 2011 GARB.pdf (Airport)
SP Series 2011 GARB.pdf (Airport)
Moody’s comment Aug6.pdf (comments on Airport control)
Financial & CIP
3. Copy of the 2012 City of Charlotte Financial Report. Here is the link to the FY2012
Comprehensive Annual Financial Report (CAFR):
http://charmeck.org/city/charlotte/Finance/Pages/Publications.aspx#CAFR2
4. From Approved CIP Bonds & COPs Allocation Document:
a. Question: Document indicates all projects translate to a 3.17 cent property
tax increase. What is the dollar amount of Bonds/COPs that translate to each
1 cent in a property tax increase?
Answer: The 3.17 cent tax rate increase for the approved CIP is
based on project cost and when the bonds are approved by voters.
The range each penny produces in debt capacity could be between
$115 million and $260 million depending on selection and timing of
projects.
b. Details about Bojangles/Ovens Area Redevelopment: (1 – Bojangles Ovens
Area Redevelopment.pdf)
c. Details about the 26 Mile Cross Charlotte Multi-Use Trail: (2 – 26 Mile
Cross-Charlotte Trail.pdf)
d. Details about the Applied Innovation Corridor: (3 – Applied Innovation
Corridor.pdf)
e. Details about the Joint Communications Center: (4 – Joint Communications
Center.pdf)
f. Details about CNIP Complete Communities: (5 – CNIP Complete
Communities.pdf)
g. Minutes of Budget Committee meetings/retreats where deliberations and
committee votes were taken about which projects were to remain on CIP or
not. The attached document (Consolidated Council Workshop
Minutes.pdf) contains CIP-relevant minutes from the following Council
meetings:
Special Council Budget Workshop – September 27, 2012
Special Council Budget Workshop – October 30, 2012
Special Council Budget Workshop – December 17, 2012
City Council Budget Workshop for FY2014-FY2015 – February 27, 2013
City Council Budget Workshop for FY2014-FY2015 – March 20, 2013
[Also attached are the Council Committee Report-outs for all of the CIP
projects that were presented to the full Council at the March 20, 2013
Workshop (All Committee Report-Outs.pdf)]
City Council Budget Workshop for FY2014-FY2015 – April 10, 2013
Continuation of April 10th City Council Budget Workshop for FY2014FY2015 – April 15, 2013
City Council Budget Adjustments Meeting – May 15, 2013
City Council Straw Votes Meeting – May 29, 2013
5. Public Safety
a. Details on staff write ups and final action taken by Council regarding school
resource officer allocation to CMS during budget deliberations: (School
Resource Officer final packet.pdf)
b. Details on 2011-2012 recommendation from City Manager to Council
regarding adjustments to Public Safety Pay Plan (responding to Mayor’s
Citizens Budget Task Force created in 2009): (Public Safety Pay Plan final
packet.pdf)