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FY 14-15 MDD Adopted BudgetCITY OF BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT (MDD) ADOPTED PROJECTS BUDGET 2014-15 BAYTOWN S MUNICIPAL DEVELOPMENT DISTRICT On May 5, 2001, in the general election, the citizens of the City of Baytown voted to authorize the creation of the Baytown Municipal Development District and the imposition of a sales and use tax at the rate of one-half of one percent for the purpose of financing economic development projects that provide economic benefit and diversify the economic base of the community. BAYTOWN S BAYTOWN S CITY OF BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT (MDD) ADOPTED PROJECTS BUDGET 2014-15 BAYTOWN S Robert D. Leiper Ignacio Ramirez Louise Richman Leticia Brysch 3 General Manager General Counsel Finance Officer Assistant Secretary CITY OF BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT (MDD) DIRECTORS STEPHEN H. DONCARLOS, President CHRIS PRESLEY, Vice President REGGIE BREWER, Secretary BRANDON CAPETILLO, Director GARY ENGLERT, Director MARY HERNANDEZ, Director ROBERT C. HOSKINS, Director DAVID P. JIRRELS, Director DAVID MCCARTNEY, Director MERCEDES RENTERIA III, Director TERRY SAIN, Director 4 MUNICIPAL DEVELOPMENT DISTRICT August 7, 2014 President and Directors of the Municipal Development District Board I am pleased to present the adopted 2014-15 budget for the Baytown Municipal Development District (MDD). The 2014-15 budget year promises to be another outstanding year for growth and economic development in the Baytown area. Home sales are improving, commercial development is continuing and recently announced industrial expansion projects will keep Baytown moving forward. We look forward to reviewing this budget with you in the coming months. Listed below are the highlights of revenues and expenditures. Revenues — Based on current year sales tax receipts we anticipate revenues to increase in the next fiscal year. Sales tax revenue for 2014-15 is projected at $5,700,000 which is a 2.7% increase over current year estimated collections. Along with interest income and loan repayments total revenues for 2014-15 are projected at $5,754,200. Expenditures - The MDD projects for funding all play a significant role in the economic development and quality of life in our City. The allocations for projects in 2014-15 are classified in one of the following three (3) priorities: o Priority: Projects or expenditures designed to promote new or expanded business activity that create or retain primaryjobs: ➢ Development of New and Expansion of Existing Businesses and Industry ➢ Economic Development Foundation — Basic Service ➢ Economic Development Foundation — Special Projects ➢ Property Acquisition for Economic Development o Priority. Projects which provide infrastructure for economic development: ➢ Land Acquisition for New Thoroughfares ➢ City Gateway Project ➢ State Infrastructure Bank Loan Repayment — Decker Dr to SH 146 S Flyover ➢ Texas Avenue Streetscape and Town Square Project ➢ Cost Share with Developers for Upsizing Utilities ➢ Northeast Wastewater Treatment Plant — Debt Service to fund 60% of design and construction ➢ West District Plant Expansion — Debt Service to fund 60% of design; 50% of construction ➢ Garth Road Traffic Engineering 5 o Priority. Projects that improve a community's quality of life, including parks, athletic facilities, etc: `r Pirates Bay Waterpark Construction Debt Service ➢ Pirates Bay Waterpark Expansion Debt Service ➢ Baytown Sports League Improvements ➢ Goose Creek Trail — Phase VI ➢ Land Acquisition — Future Parks ➢ East Road Fields — Lighting and Wiring (new) ➢ GLO/CMP Grant Match for Tabbs Bay Cleanup ➢ Median Beautification Crew ➢ Community Service Supervisor ➢ Roseland Spray Park Renovations (new) ➢ Special Needs Playground (new) Additional narrative on each of the foregoing projects is included in the "Major Budget Issues" section of the budget packet. Project administration costs of $300,000 are included to reimburse the General Fund for administrative, engineering and financial support of the MDD. There is no allocation for unforeseen/new initiatives this year. However, there are previously allocated funds to this account that are still available. These funds provide flexibility to allow the Board to utilize MDD funds to secure federal, state and local grant funds when available and to enhance and expand the impact that the MDD has on the economic development of the community as opportunities arise. It will also allow funding for unexpected or inflationary increases on project costs, if needed. We are excited about the economic development accomplishments in Baytown and look forward to continuing our growth and development into the future. Sincerely, Robert D. Leiper General Manager MUNICIPAL DEVELOPMENT DISTRICT MAJOR BUDGET ISSUES Fiscal Year 2014-15 On May 5, 2001, in the general election, the citizens of the City of Baytown voted to authorize the creation of the Baytown Municipal Development District (MDD) and the imposition of a sales and use tax at the rate of one-half of one percent for the purpose of financing economic development and parks projects that provide economic benefit, diversify the economic base of the community and improve our quality of life. The board is composed of the Mayor, six council members and four at -large resident members. REVENUES — Based on current year sales tax receipts we anticipate revenues to increase in the next fiscal year. Sales tax revenue for 2014-15 is projected at $5,700,000 which is a 2.7% increase over current year estimated collections. Along with interest income and loan repayments total revenues for 2014-15 are projected at $5,754,200. EXPENDITURES — Included in this year's program are economic development projects and improvements in the areas of streets, drainage, sidewalks, signalization, utilities and parks. Generally, project costs may include functions such as services, construction or debt service on long-term construction projects. Project administration costs of $300,000 are included to reimburse the General Fund for administrative, engineering and financial support of the MDD. PROJECTS Development of New and Expansion of Existing Businesses and Industry A significant function of this budget allocation is the development of new and expansion of existing businesses. These projects are critically important in light of the State Implementation Plan's potential impact on the petro -chemical industry and underscore our need to diversify our economic foundation. $150,000 Economic Development Foundation — Basic Economic Development Services This provides continued funding for the basic economic development services contract with the Baytown AreaMlest Chambers County Economic Development Foundation (EDF). $250,000 Economic Development Foundation — Special Economic Development Projects The current MDD budget includes continued funding for a special projects contract with the EDF. The provisions of this contract are requested and approved on an annual basis. $100,000 Property Acquisition for Economic Development This allocation provides funding to purchase property that may become available to be used for future economic development purposes. Some of the projects discussed elsewhere in this report may require additional property acquisition. $100,000 Land Acquisition for new Thoroughfares Funds to purchase rights-of-way for roadway development or expansion. $100,000 City Gateway Monument Additional funding for the current project at the Hartman Bridge. $150,000 State Infrastructure Bank Loan Repayment — Decker Drive to Highway 146 S. Flyover The MDD financed a $1,000,000 loan from the Texas State Infrastructure Bank (SIB) for a Decker Drive to Highway 146 South flyover project. This funding, combined with matching funds from the November 2007 bond election, allowed for completion of the Decker Drive to Highway 146 South flyover. The current project funding eliminates the "braided" on and off ramps. The postponement of the construction of these ramps would have impaired mobility in the area. The State matched our $2 million contribution to provide the $4 million necessary to complete all elements of this flyover. Eligible projects must be on the state highway system and be included in the Statewide Transportation Improvement Plan. $1489957 Texas Avenue Streetscape and Town Square Project The budget includes continued funding and expands the scope of the project to include the Phase One development of a Town Square in the city -owned block bounded by Texas, Gaillard, Pearce and Ashbel. The project adopted for FY 2015 also includes extending the Streetscape Project from Gaillard to Ashbel, including the Ashbel intersection. Phase One of the Town Square is very innovative and includes the Bond - funded water feature in the form of a fountain. The fountain will serve as centerpiece of a round plaza that would serve as the platform for a portable ice rink for the 2015 Christmas holiday season. The fountain would be designed such that it would be covered by a large Christmas tree resulting in a much improved community tree lighting event and ice skating around the community Christmas tree. A set of permanent restrooms will be constructed as will a matching building for storage, fountain equipment and the skate concession center. An area for food trucks is envisioned along Gaillard and there is a large grassy area for concerts, farmers markets and other gathering events. Future phases include a stage and/or other structures. The City owns over Y2 acre across Pearce from the Town Square and funding is included for public off-street parking to complement the parallel curbside parking around the block. The anticipated development of Ken Pridgeon's Portrait of a Warrior Memorial Art Gallery on the east side of Ashbel would provide additional public parking. The City also owns a tract at Jones and Pearce that can be developed into additional parking, especially if the Brunson project comes to fruition. The total project cost is $1,750,000. Funding previously transferred to the Downtown Quiet Zone Project is not needed for that project and is returned to this project resulting in available funding, subject to the Board's allocation of $500,000, of $1,264,967. The downtown water feature has $290,000 in bond funds available and $250,000 in Street Maintenance Sales Tax will be allocated to assist with funding the roadway portion of the Streetscape. This is an ambitious project but the timing may be just right given the current boom times in Baytown. $500,000 Garth Road Traffic Engineering This funding continues support for traffic congestion mitigation along the Garth Road corridor. These funds will be utilized when outside engineering/design expertise is required. The vast majority of the projects to date have been designed in-house. $15,000 Economic Development Cost Share with Developers This funding allows the City to have the ability to upsize utility lines installed by developers to meet future water and sewer needs for undeveloped areas serviced by the same lines. $1009000 Northeast Wastewater Treatment Plant — Debt Service The confirmed growth and development within the City necessitated the design and construction of the Northeast Wastewater Treatment facility. The project is estimated at $28,500,000 with 60% ($17,100,000) of the funding from the MDD. The remaining 40% ($11,400,000) is funded from the Water and Sewer Fund. This allocation includes the current year principal and interest payment on multiple debt issuances by the Texas Water Development Board (TWDB) loan and Certificates of Obligation. $1,302,255 West District Plant Expansion — Debt Service The construction to expand the facility with a new 4.0 million gallon per day (MGD) treatment facility is complete. This expansion increased the facility to 8 MGD. MDD has reimbursed the City for 60%, or $1.2 million, of the design costs of approximately $2,000,000, which was authorized in the 2005-06 and 2006-07 budgets. The City issued Series 2008 Certificates of Obligation to finance the total construction costs of the project which is estimated at $27,600,000. MDD will provide 50% funding for the 20 year debt service. This allocation funds the current year debt service requirement. $1,009,356 Aquatic Facilities — Debt Service Pirate's Bay Waterpark opened in 2010 and was funded with $4 million authorized in the November 2007 bond election and the issuance of $6 million in Certificates of Obligation in early 2010. MDD is funding the debt service on the $6 million in CO's. This allocation funds the current year debt service requirement. $4379888 Pirates Bay Waterpark Expansion — Debt Service Attendance and popularity continue to be greater than anticipated with the waterpark's capacity limiting tickets sales on a regular basis. The development of a multi -phased Pirates Bay Expansion Master Plan is in progress. MDD funding of the North Main water and sewer project debt service has been shifted to the Water and Sewer Fund to provide $5.5 million in MDD debt capacity to help fund the expansion. This allocation funds the current year debt service requirement. $375,529 Baytown Sports League Improvements The budget provides continuous funding for various improvements at little league, pony league and soccer facilities including bleacher covers, backstops, paving, trails, lighting and fencing repairs as needed. $100,000 Goose Creek Trail — Phase VI The project would connect the Goose Creek Stream Trail to the Hutto Parkway Trail and beyond. The project will cross Park Street and Decker Drive at the Highway 146 North Feeder Road. The project will go under four Highway 146 bridges and a consultant may be needed to provide engineering under both feeder roads. The trail will also require permission from TxDOT to utilize TxDOT Right of Way including traveling under the four Highway 146 bridges. The project will be the final link for the Goose Creek Trail that will connect Bayland Island to Hutto Parkway and beyond. With the exception of the engineering required under the service road bridges, all planning and design will be completed by Parks and Recreation employees. The project will also replace two footbridges along the current Goose Creek Trail. Plans and Specifications will be provided with Baytown Parks and Recreation Department employees. The bridges were installed in 1993 and are in need of replacement. The total for this phase is $465,000 and the MDD funding is supplemented with $150,000 from the City's Capital Improvement Project Fund. $315,000 Land Acquisition — Future Parks This project provides funding to acquire future park land. This is a continued set-aside of funds to provide an allocation that would be used as land becomes available. $50,000 Ball field Lighting and Wiring at Sports Complex - East Road (Girls) Fields The East Road side of the Sports Complex opened in 1973. The original ball field lighting included direct burial wiring for the quartz lighted 4 field Complex. In 1983, the lighting was upgraded to state of the art, MUSCO sports lighting system using the existing direct burial wiring. In 1998, the city upgraded the system by replacing the light poles. Special inserts were installed in the 1983 fixtures to increase the light levels. The lights were the only items that were not addressed during the 2003 Sports Complex renovations. During the past 10 years, the old 1973 direct burial wiring has begun to cause major issues needing to be replaced. The project would completely replace the existing system including lights and wiring with the exception of the 8 common concrete poles. The new energy efficient system will have a 25 year warranty and will increase the light levels to current standards and eliminate the expensive maintenance and downtime caused by 1973 wiring. The project will upgrade the ballfield lighting and will provide much needed security lighting in the back of the complex. Increasing the light levels will provide safer playing fields for the Girls Fastpitch Softball Association. The energy efficient green system will also reduce electrical cost along with the 25 year warranty that will insure maintenance cost savings for years to come. The project will eliminate long and costly delays and lost game days on major repairs due to 1973 direct burial wiring. $575,000 GLO-CMP Cycle 19 Grant for Tabbs Bay and Goose Creek Stream Cleanup The - City applied for and was awarded a General Land Office - Coastal Management Program Cycle 19 grant to continue removing derelict and abandoned pilings from Tabbs Bay. The 60140 grant totaling $166,000 was awarded in February 2014 and grant funds will be available October 1, 2014. The City of Baytown's portion of the grant is $66,400. This is the 4th phase of the derelict pile removal project that has removed 1,272 piles from Tabbs Bay and Goose Lake. To address the community image issues with the remaining objects in Goose Creek from the Decker Bridge to the Business 146 bridge, staff has added an additional $20,000 to remove tires, shopping carts and other discarded junk that has been dumped into Goose Creek over the years. $86,400 10 Median Beautification Crew Initiated in 2013, this project continues funding of the Median Beautification Crew. The crew is responsible for the trimming and mowing maintenance of landscaping on Spur 330, Highway 146 and will be involved with the landscaping of Highway 146 between North Main and Garth Road scheduled for the fall of 2014. The crew also assists with maintenance of medians on Hutto, Baker and Alexander Drive. $110,500 Community Service Supervisor With the addition of the new Community Service Supervisor the court assigned community service worker crew can be "split" into two crews which will allow for additional litter abatement along the major roadways as well as additional mowing of City owned properties. This additional litter abatement will enhance the City's efforts of beautification end economic development by improving the visual perspective of the City. The carryover funding from FY14 will be used to replace the crew van and to provide replacement equipment for the crew members. $77,200 Roseland Spray Park Renovations Roseland Park Spray Park was opened in 2002. Other than routine maintenance, the system has worked consistently for the past 12 years. However, some of the major components have worn out. This project would replace the controller, all twelve electronic valves and raise the vault above ground. The vault has flooded three times over the years that caused major downtime for the system. The project will also include a cool deck to be installed in the spray area. Roseland Spray Park is the only painted spray park surface the city has. Cool deck will provide a non -slip surface and provide a surface that does not absorb the hot sun temperatures. Design and oversite will be provided by the Parks and Recreation Department employees. $42,000 Special Needs Playground We are partnering with Goose Creek CISD to establish a special needs playground at Bowie Elementary School. This effort will include the installation of specific park playground equipment that is specially made for special needs children. The City's contribution includes the design of the playground and the installation of the playground equipment. $25,000 Project Administration & Overhead ii $300,000 BAYTOWN S I 6 -- UJ MUNICIPAL DEVELOPMENT DISTRICT (MDD) PROGRAM FUND BUDGET SUMMARY for Fiscal Year 2014-15 Actual Carry -forward Adopted Adjustments Total Allocation Estimated Carry -forward New Allocation Total Allocation 201243 201243 201344 2013-14 2013-14 2013-14 2013-14 2014-15 2014-15 Inning working capital $ 6,487,486 $ 6.407,476 $ 1,373,491 $ - $ 6,407,476 $ 6,407.476 $ 5,969,951 $ 868,643 $ 5,969,951 Revenues Safes Taxes 5,294,203 5,441,000 5,441,000 5,549.820 5,700,000 5,700,000 Interest on Investments 5,758 5,000 5,000 5,000 6,000 6,000 Miscellaneous 133,193 - - - - Loan Repayments 60,0451 46,950 - 46,950 46,950 40,200 40,200 Interest on Loans 6,857 8,000 8,000, 8.000 8,000 8.000 Total MDD Revenues 5,500.056 5,500,950 5,500,950 5,609,770 - 5.754,200 5.754.200 Expenditures Economic Development Projects Development of New and Expansion of Existing Businesses and InduLq 45,258 283,425 300,000 50,000 533.425 7,858 525,567 150,000 675.567 Econ Development Foundation - Basic Economic Development Services 200.000 200.000 - 200,000 200,000 - 250,000 250,000 Econ Development Foundation - Special Economic Development Projects 207,398 224,747 100,000 - 324,747 30,000 294,747 100.000 394.747 Econ Development Foundation - Special Economic Development Proects-SBRLF 110,000 - 110,000 - 110,000 110,000 ProAcquisition for Economic Development 53,327 423,976 100,000 - 523,978 454 523,522 100,000 623,522 Downtown Redevelopment Assistance - Baytown Little Theater 500,000 - 500,000 500,000 - 500,000 Marketing Plan Update 35,000 35,000 31.101 - Unified Land Development Code 15,000 - 15 000 - Subtotal 505,983 1,592,148 700.000 50.000 2,242148 269.413 1,953,836 600,000 2,553,836 Streets, Drainage, Sidewalks & Si nalhation PMfecft- Baker Road Extension - Land Acquisition 56.317 98,710 - 98.710 - - - Land Acquisition for New Thoroughfares 713,000 100,000 98.710 911,710 911,710 100,000 1,011,710 City Gateway Project 350,000 - 350,000 350,000 - 150.000 150.000 North MairVAlexander Signal Synchronization 5,264 53,609 - 53,608 - - - State Infrastructure Bank Loan Repayment Decker Dr to 146 South flyover $1 mm 148,957 148,957 148.957 148,957 148,957 148.957 Texas Avenue Streetsca and Town Square Project 264,967 150.000 350,000 764,967 764,967 500.000 1,264.967 Downtown Quiet Zone 350.000 350,000 - Signal -146 North and 1-10 West 22,247 252,753 - 252,753 223,753 29,000 29,000 Signal - Hutto and Rollin brook 4,800 5,200 - 50,000 55,200 55.200 - - - Garth Road Traffic Engineering 10,032 7,668 7,668 7.668 15,0001 15,000 Subtotal 255,764 1,745,907 748,957 50,000 2,544,864 785.578 1,705,677 913,9571 2.619,634 utility Projects Economic Dev. Cost Share with Developers to Upsize New Utilities 657,655 100,000 345,642 412,013 412.013 100,000 512,013 NE WW Treatment Plant Debt Service (60% - 2005 & 2006 TWDB & 2006 CO's) 1,064,922 1,201,581 - 1,201,581 1,201,581 1,302,255 1,302,255 West District Plant Expansion Debt Service - (50% - 2W8CO's) 1,132,001 - 1.002.966 1,002,966 1,002,966 - 1,009,356 1,009,356 Hutto Lift Station 129.978 70.022 - 70,022 7,500 62,522 62,522 Bucees Wily Lines - 344,335 344,335 344,335 - Ameri ort Waterline 50 1 24.9501 1,307 26,257 26,257 - - - Subtotal 2,326.951 752,627 2,304.547, 3,057174 2,582.639 474.535 2.411,611 2,886,146 Parks Pro ects Aquatics Master Pian Prase 1 & 2 Construction (Debt Svc on $6mm) 437,488 - 427.738 427.738 427,738 - 437.888 437,888 Pirates Bay Waterpark Expansion (Debt Service on $5.5mm) 399,288 712 376.563 - 377,275 377,275 375,529 375,529 Baytown Sports League Improvements 13,113 63,032 113,186 176,218 176,218 100,000 100,000 Baytown Nature Center Entryway and Misc. improvements 17,361 20,813 - 20,813 - - Goose Creek Stream -Trails. Docks and Picnic Shelters 135,2391 135,239 �P MUNICIPAL DEVELOPMENT DISTRICT MDD PROGRAM FUND BUDGET SUMMARY for Fiscal Year 2014-16 Actual Carry -forward Adopted Total Adjustments Allocation Estimated Carry -forward New Allocation Total Allocation 201243 2012-13 201344 2013-14 201344 201344 2013-14 2014.15 2014-15 Goose Creek Trail Phases V and VI 500,000 - 500,000 300,000 200,000 - 200,000 Goose Creek Trail - Phase VI - - 315,000 315,000 Land Acquisition - Future Parks - 173,139 50,000 223,139 - 223,139 50,000 273,139 S Com ex (Parking. Fields and U hU 199,629 3,041 50,000 - 53,041 53,041 - - East Road Girls Fields - Lighting and Wiring- - 575,000 575,000 P and Central Little League Parks 25,000 - 25,000 25,000 GLO / CMP Grant Match ebbs B 107,973 - - - - 86,400 86.400 Tabbs Clean - - 100,000 100,000 99,858 - Basketball Court Cover - NC Foote 8 McElroy58,423 - - Eddie Huron Park Phase 118111 171,802 3,198 - - 3,198 1,871 - C' Hall Improvements Phase 18 II 14,616 27,384 - 27,384 27,384 Median Beautification Crew 119,348 652 128,800 - 129,452 129,452 110,500 110,500 Community Service Supervisor - 82,100 82,100 40,000 42,100 77,200 119,300 Roseland Park Improvements 98,380 1,620 100,250 - 101,870 101,870 - Roseland Locomotive Improvements - - 59,825 59,825 59,825 - Roseland Spray Park Renovations - - 42,000 42,000 Special Needs PI and - - - -- - 25 000 25,000 Jenkins/Hol Park Improvements 98,632 - 98,632 98,632 - Goose Creek Park Improvements - - 52,715 - 52,715 52,715 - Hutto Greenway Median 500,000 - - - Jenkins Park Disc Golf 23,013 1,987 - 1,987 1,826 - Allenbrook Park Improvements 111,960 - 111,960 111,960 Kayak Launch 25,000 - 25,000 25,000 - Irrigation System for Soccer Fields 29,535 10,485 - - - - Wetlands Center Improvements 1,399 - - Subtotal 2,191,368 441,282 2,301,769 T 2,732,586 2,109,665 465,239 2,194,517 2,659,756 Total MDD Projects 5,280.066 4,531,964 6,055,273 1 10,576,772 5,747,295 4,599 287 6120 085 10 719,372 Other Project Administration and Overhead 300,000 300,0001 300,000 300,000 300,000 Unforeseen/New Initiatives 502,021 - 502,021 502,021 502,021 Subtotal 300,000 502,021 300,000 - 802,021 300,000 502,021 M420,085 802,021 Total MDD Expenditures 5,580,066 5,033,985 6,355,273 11,378,793 6,047,295 5101 308 11,521 393 Revenues over under expenses 80,010 5,033,985 854,323 - 5,877,843 437,525 5,101,308 665,885 5,767,193 Ending working capital $ 6,407,476 1 $ 1,373,491 $ 519,168 $ - $ 529,633 1 $ 5,969,951 $ 868.643 $ 202.758 $ 202,758 DEBT SERVICE PAYMENT RECAP Aquatics Master Plan Phase 1 & 2 Construction (Debt Svc on $6mm) 437,488 427,738 427,738 427,738 437,888 437,888 Pirates Bay Expansion Debt Svc on $5.5mm 400,000 376,563 376,563 376,563 375,529 375,529 State Infrastructure Bank Loan Repayment Decker Dr to 146 South flyover $1 mm) 148,957 148,957 148,957 148,957 148,957 148,957 NE WW Treatment Plant Debt Service (60% - 2005 8 2006 TWDB 8 2006 CO's) 1,199,079 1,201,581 1,201,581 1,201,581 1,302,255 1,302,255 West District Plant Expansion Debt Service - (50% - 2008 CO's) 997,844 1,002,966 1,002,966 1,002,966 1,009,356 1,009,356 Total Debt Service Payments $ 3183 368 $ - $ 3157 806 $ 3157 805 1 $ 3,157,8051 $ 3,273,985 S 3 273 98S I I SUPPLEMENTAL INFORMATION INCLUDED FOR PLANNING PURPOSES 15 MUNICIPAL DEVELOPMENT DISTRICT MDD PROGRAM FUND BUDGET SUMMARY - PROJECTED WORKING CAPITAL Fiscal Year 2014-15 Estimated revenue growth for projected years: 1.5% Rev thru FYI Current Expenditures Carry- forward 201243 Adjusted Allocation 2013-14 Total Allocation 2013-14 Estimated Expenditures 201344 Carry -forward 201344 New Allocation 2014.15 Total Allocation 2014-15 Projected 2015-16 _Projected 2016-17 Projected 2017-18 Projected 2018-19 Proected 2019-20 Beginning working capital $ - $ 6,407,476 $ 1,714,098 $ 6,407,476 $ 6,407,476 $ 5,969,951 $ 868,643 $ 5,969,951 $ 202,758 $ 311,944 $ 884,306 $ 1,567,751 $ 2,323,143 Revenues Sales Taxes 38,216,835 - 5,441,000 5,441,000 5,549,820 5,700,000 5,700,000 5,786,000 5,873,000 5,961,000 6,050,000 6,141,000 Interest on Investments 1,352,408 5,000 5,000 5,000 - 6,000 6,000 6,000 6,000 6,000 6,000 6,000 Contributions & Miscellaneous 247,410 - 46,950 54,950 54,950 - 48,200 48,200 20,000 20,000 20,000 20,000 20,000 Total MDD Revenues 39,816,653 - 5,492,950 5,500,950 5,609 770 - 5,754 200 5,754,200 5.812,000 6,899.000 5,987,000 6,076,000 6,167 000 Expenditures Economic Development Pro ects Development of New and Expansion of Existing Businesses and Industry 1,099,496 283,425 250,000 533,425 7,858 525,567 150,000 675,567 300,000 300,000 300,000 300,000 300,000 Econ Development Foundation - Basic Economic Development Services 1.300,000 - 200,000 200.000 200,000 - 250.000 250,000 200,000 200.000 200,000 200.000 200,000 Econ Development Foundation - Special Economic Development Projects 308,554 224,747 100,000 324,747 30,000 294,747 100,000 394,747 100,000 100,000 100,000 100,000 100,000 Econ Development Foundation - Special Economic Development Proects-SBRLF 100,000 110,000 - 110,000 110,000 - 110,000 Property Acquisition for Economic Development 621,197 423,976 100,000 523,976 454 523,522 100,000 623,522 100,000 100,000 300,000 300,000 300,000 Downtown Redevelopment Assistance - Baytown Little Theater - 500,000 - 500.000 - 500,000 - 500.000 - - - - - Marketing Plan Update - 35,000 - 35,000 31,101 - - - - Unified Land Development Code 37.500 15,000 - 15,000 -- Subtotal 3.466,747 1.592,148 650.000 2,242,148 269,413 1,953,836 600,000 1 2,553,836 700.0001 700.000 900.000 900,000 900,000 Streets, Dralna e, Sidewalks & Si nalization Pro ects Baker Road Extension - Land Acquisition 113,792 98,710 98,710 - - - - - - - - Land Acquisition for New Thoroughfares 713,000 198,710 911,710 911,710 100,000 1,011,710 100,000 100,000 100,000 100,000 100,000 City Gateway Project - - 350,000 350,000 350,000 - 150,000 150,000 350,000 - - - - North Main/Alexander Signal Synchronization 780,778 53,609 - 53,609 - - - - - State Infrastructure Bank Loan Repayment Decker Dr to 146 South ver $1 mm 446,914 - 148,957 148,957 148,957 148,957 148,957 149,000 149,000 - - - Texas Avenue Streeiscape and Town Square Project 305,243 264,967 500,000 764,967 - 764,967 500,000 1,264,967 150,000 150,000 150,000 150,000 150,000 Downtown Quiet Zone - 350,000 350,000 - - -- Si nal -146 North and 1-10 West Signal 22,247 252,753 - 252,753 223,753 29,000 - 29,000 - - - - -- Signal - Hutto and Rollin brook 4,800 5,200 50,000 55,200 55,200 - - - - - - - Texas Avenue - Grant Project 1,076,125 - - - - - - - - - ,Thoroughfare Master Plan 123,346 - - - - - - - - - Garth Road Traffic Engineering 10,032 7,668 7,668 7,668 15.000 15,000 - - Subtotal 2,883,277 1,745 907 798,957 2,544,864 785,578 1,705,677 1 913,957 2,619,634 749,000 399,000 250,000 250,000 250,000 J - utility Projects Economic Dev. Cost Share with Developers to Upsize New Utilities 26,083 657,655 245,642 412,013 - 412,013 100,000 512,013 150,000 150,000 150.000 150,000 150,000 NE WW Treatment Plant Debt Service (60% - 2005 & 2006 TWDB & 2006 CO's) 6,067,580 1,201,581 1,201,581 1,201,581 1,302,255 1,302,255 1,201,581 1,208,315 1,214,694 1,218,123 1,225,217 West District Plant Expansion Debt Service - (50% - 2008 CO's) 3,202,146 - 1,002,966 1,002,966 1,002,966 - 1,009,356 1,009,356 1,002,966 1,009,356 1,014,619 1,021,055 1,026,271 Hutto Lift Station 129,978 70,022 70,022 7,500 62,522 - 62,522 - - - - eucees Utility Lines - - 344.335 344,335 344.335 - - - - - - Amerlport Waterline 50 24,950 1,307 26,257 26,257 - - - - Subtotal 9,425,837 752,627 2,304,547 3,057,174 I 2,582,639 474,535 2,411,611 2,886,146 2,354,547 2,387,671 2379313 2,389,178 2,401,488 Parks Projects Aquatics Master Pian Phase 1 & 2 Construction Debt Svc on $6mm 522,948 - 427,738 427,738 427,738 437,888 437,888 427,738 437,888 426,713 434,138 426 338 Pirates Bay Waterpark Expansion - Debt Service on $5.5mm 399,288 712 376,563 377,275 377,275 375,529 375,529 375,529 376,079 376,529 376,292 373.554 Baytown Sports League Improvements 450,128 63,032 113,186 176,218 176,218 100,000 100.000 25,000 25,000 25,000 25,000 25,000 Baytown Nature Center Entryway and Misc. Improvements 965,449 20,813 20,813 - - MUNICIPAL DEVELOPMENT DISTRICT MOD PROGRAM FUND BUDGET SUMMARY - PROJECTED WORKING CAPITAL Fiscal Year 2014-15 Estimated revenue growth for projected years: 1.5% Rev thru FYI Current Expenditures Carry- forward 201243 Adjusted Allocation 201344 Total Allocation 201344 Estimated Expenditures 201344 Carry -forward 2013-14 New Allocation 2014-15 Total Allocation 2014-15 Projected 2015-16 Projected 201647 Projected 201748 Proected 2018-19 Projected 2019-20 Goose Creek Stream - Trails, Docks and Picnic Shelters 31,027 135,239 - 135,239 - - - - - Goose Creek Trail Phases V and VI - 500,000 500,000 300,000 200,000 315,000 515,000 350,000 300,000 300,000 300,000 300,000 Land Acquisition - Future Parks 34,942 173,139 50,000 223,139 - 223,139 50,000 273,139 50,000 50,000 50,000 50,000 50,000 S Complex (Parking. Fields and Lighting) 573,9% 3,041 50,000 53,041 53,041 - - - 125,000 125,000 - - - East Road Girls Fields - Ughflng and Wiring - - - 575,000 575,000 - - - S rounds not specific) 249,259 - - - - - 50.000 50,000 Petly and Central Little League Parks - 25,000 25,000 25,000 - - - GLO / CMP Grant Match 107,973 - - - 86,400 86,400 54,000 54,000 54,000 54,000 54,000 Tabbs Bay Cleanup 100,000 100,000 99,858 - - - - Basketball Court Cover - NC Foote & McElroy 58,423 - - - - - - - Eddie Huron Park Phase II & 111 171,802 3,198 - 3,198 1,871 - - ,City Hall Coudyard lmpmvements Phase I & II 14,616 27,384 - 27,384 1 27,384 - -- Median Beautification Crew 119,348 652 128,800 129,452 129,452 110,500 110,500 120,000 120,000 120,000 120,00 0 120,000 Community Service Supervisor - 82,100 82,100 40,000 42,100 77,200 119,300 72,000 72,000 72,000 72,000 72,000 Roseland Park Improvements 98,380 1,620 100,250 101,870 101,870 - - - - Roseland Locomotive Improvements - 59,825 59,825 59,825 - - - - Roseland Spray Park Renovations - - 42,000 42,000 - - Special Needs Playground - - 25,000 25,000 - - Jenkins / HoHoway Park Improvements 98,632 98,632 98,632 - - - - Goose Creek Park Improvements - 52,715 52,715 52,715 - - - - Hutto Greenway Median 500,000 - - - - - - Jenkins Park Disc Goff 23,013 1,987 - 1,987 1,826 - - - - - - - Allenbrook Park improvements - 111,960 111,960 111,960 - - - - - - - Kayak Launch - - 25,000 25,000 25,000 - - - Irrigation S em for Soccer Fields 29,535 10,465 - - - - - - Wetlands Center Improvements 1,399 - - - - - - - - - - - Subtotal 4,351,526 441,282 2,301,769 2,732,586 2,109,665 465,239 2,194,517 2,659,756 1,599,267 1,559,967 1,474,242 1,481,430 1,420,892 %tal MDD Projects 20,127,387 4,531,964 6,055 273 10,576,772 5,747,295 4,599,287 6,120,085 10,719,372 5,402,814 5,026 638 5,003,555 5,020,608 4,972,380 Other Project Administration and Overhead 1,787,500 300,000 300,000 300,000 300,000 300,000 300.0001 300,000 300,000 300,000 300,000 Unforeseen/New InftiaUves 22,704 502,021 - 502,021 502,021 - -----F-502.021 - I - - - Subtotal 1,810,204 502,021 300,000 802,021 300,000 502,021 300,0001 802,021 300,000 300,000 300,000 300,000 300,000 Total MDD Expenditures 21,937 591 5,033.985L 6,355,273 11,378,793 6,047,295 5,101,308 6,420,085 11 521,393 5,702,814 5,326,638 5,303,555 1 5,320.608 5,272 380 Revenues over under expenditures 17,879,062 5,033,985 862,323 5,877,843 437,525 5,101,308 665,885 5,767,193 109,186 572,362 683,445 755,392 894,620 Ending working capital $ 17,879,062 $ 1,373,491 1 $ 851,775 $ 529,633 1 $ 5,969,951 1 $ 868,643 $ 202,758 $ 202,758 1 $ 311,944 1 $ 884,306 $ 1,567,751 $ 2,323,143 $ 3,217,763 BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT DETAIL DEBT AMORTIZATION SCHEDULES 2014 3.875% 145,302 55,978 201,280 2,373,725 2015 3.875% 152,092 2,947 155,039 2,221,633 2015 3.875% 2,221,633 - 2,221,633 - $ 3.321.586 $ 1.034,456 $ 4,356,042 18 NE WW Treatment - $13,370,000 - W&S Issue Certificate of Obligation - TWDB MDDportion-60%) Issue 1 of 2 $ 315169310 Series 2005 Date of Issue - Feb 9, 2006 -Refund $2,221,633 as of Feb 1, 2015 Date of Issue - March 1, 2005 -Refund $2,241,204 as of Feb Term - 20 Years Fiscal Interest Principal Total Total Debt Balance of Year Rate Due 2101 Interest for Fiscal Yr Principal 2006 1.35% $ 98,625 $ 99,219 $ 197,844 $ 3,417,685 2007 1.55% 105,200 97,738 202,938 3,312,485 2008 1.65% 110,460 73,009 183,469 3,202,025 2009 1.80% 117,035 71,088 188,123 3,084,990 2010 2.05% 123,610 68,927 192,537 2,961,380 2011 2.25% 130,185 88,995 219,180 2,831,195 2012 2.40% 138,075 85,873 223,948 2,693,120 2013 2.55% 145,965 82,355 228,320 2,547,155 2014 2.65% 153,855 78,456 232,311 2,393,300 2015 2.75% 163,060 74,175 237,235 2,230,240 2016 2.90% 172,265 69,435 241,700 2,057,975 2017 2.95% 181,470 64,261 245,731 1,876,505 2018 3.00% 191,990 58,656 250,646 1,684,515 2019 3.10% 202,510 52,589 255,099 1,482,005 2020 3.15% 214,345 46,075 260,420 1,267,660 2021 2.00% 226,180 39,080 265,260 1,041,480 2022 3.30% 239,330 31,512 270,842 802,150 2023 3.35% 252,480 23,334 275,814 549,670 2024 3.45% 266,945 14,500 281,445 282,725 2025 3.50% 282,725 4,948 287,673 - $ 3,516,310 $ 1,224,226 $ 4,740,536 2014 3.875% 145,302 55,978 201,280 2,373,725 2015 3.875% 152,092 2,947 155,039 2,221,633 2015 3.875% 2,221,633 - 2,221,633 - $ 3.321.586 $ 1.034,456 $ 4,356,042 18 NE WW Treatment - $129230,000 - W&S Issue Certificate of Obligation - MDDportion-60%) $ 393219586 Series 2006A Date of Issue - Feb 9, 2006 -Refund $2,221,633 as of Feb 1, 2015 Fiscal Interest Principal Total Total Debt Balance of Year Rate Due 2101 Interest for Fiscal Yr Principal 2007 5.875% $ 51,603 $ 212,562 $ 264,165 $ 3,269,983 2008 5.875% 111,353 144,811 256,164 3,158,630 2009 5.875% 116,785 138,109 254,894 3,041,845 2010 5.875% 122,217 131,089 253,306 2,919,628 2011 5.875% 127,649 123,749 251,398 2,791,979 2012 5.875% 133,081 116,090 249,171 2,658,898 2013 4.375% 139,871 109,121 248,992 2,519,027 2014 3.875% 145,302 55,978 201,280 2,373,725 2015 3.875% 152,092 2,947 155,039 2,221,633 2015 3.875% 2,221,633 - 2,221,633 - $ 3.321.586 $ 1.034,456 $ 4,356,042 18 BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT DETAIL DEBT AMORTIZATION SCHEDULES 19 NE WW Treatment - $199700,000 - W&S Issue Certificate of Obligation - MDD Portion Certificate of Obligation - TWDB MDDportion-60%) Issue 2 of 2 $ 10,3709133 Series 2006B Date of Issue - May 1, 2006 Term - 20 Years Fiscal Interest Principal Total Total Debt Balance of Year Rate Due 2101 Interest for Fiscal Yr Principal 2007 5.500% $ 313,210 $ 405,618 $ 718,828 $ 10,056,923 2008 5.500% 394,802 326,865 721,667 9,662,121 2009 5.500% 405,330 315,863 721,193 9,256, 791 2010 5.500% 415,858 3041468 720,326 8,840,933 2011 5.500% 429,018 292,532 721,550 8,411, 915 2012 5.500% 442,178 279,896 722,074 7,969,737 2013 5.500% 455,338 266,430 721,768 7,514,399 2014 5.500% 468,498 252,224 720,722 7,045,901 2015 5.500% 484,290 237,214 721,504 6,561,611 2016 5.500% 500,083 221,339 721,422 6,061,528 2017 5.500% 515,875 204,700 720,575 5,545,653 2018 5.500% 534,299 187,239 721,538 5,011,354 2019 5.500% 552,723 168,894 721,617 4,458,631 2020 5.500% 571,147 149,645 720,792 3,887,484 2021 5.500% 592,203 129,429 721,632 3,295,281 2022 5.500% 613,259 108,334 721,593 2,682,022 2023 5.500% 634,315 86,184 720,499 2,047,707 2024 5.500% 658,003 62,922 720,925 1,389,704 2025 5.500% 681,691 38,637 720,328 708,013 2026 5.500% 708,013 13,098 721,111 - 1,088,233 1,068,927 $ 10, 370,133 $ 4,051,531 $ 14, 421, 664 24,051 19 West District Plant Expansion - $29,500,000 - W&S Issue Certificate of Obligation - MDD Portion $ 13,8609814 Series 2008 Date of Issue - February 15, 2008 Term - 20 Years Fiscal Interest Principal Total Total Debt Balance of Year Rate Due 211 Interest for Fiscal Yr Principal 2008 $ - $ 262,640 $ 262,640 $ 13,860,814 2009 4.000% 413,475 561,311 974,786 13,447,339 2010 4.000% 434,619 544,349 978,968 13,0121720 2011 3.500% 458,112 527,640 985,752 12,554,608 2012 3.500% 479,255 511,236 990,491 12,075,353 2013 4.000% 505,097 492,747 997,844 11,570,256 2014 4.000% 530,940 472,026 1,002,966 11, 039, 316 2015 4.000% 559,131 450,225 1,009,356 10,480,185 2016 4.000% 587,323 427,296 1,014,619 9,892,862 2017 4.000% 6171863 403,192 1,021,055 9,274,999 2018 4.000% 648,404 377,867 11026,271 8,626,595 2019 4.000% 6811294 351,273 1,032,567 7,945,301 2020 4.000% 716,534 323,316 1,039,850 7,228,767 2021 4.000% 754,122 293,903 1,048,025 6,474,645 2022 4.000% 791,711 262,987 1,054,698 5,682,934 2023 4.125% 831,649 230,000 1,061,649 4,851,285 2024 4.250% 876,285 194,226 1,070,511 3,975,000 2025 4.250% 920,922 156,035 1,076,957 3,054,078 2026 4.400% 967,908 115,172 1,083,080 2,086,170 2027 4.500% 1,017,243 70,990 1,088,233 1,068,927 2028 4.500% 1,068,927 24,051 1,092,978 - $ 13,860,814 $ 7,052,483 $ 20,913,297 19 BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT DETAIL DEBT AMORTIZATION SCHEDULES Decker Dr to 146 Flyover - $1,000,000 - MDD Issue Texas State Infrastructure Bank Loan $ 190009000 Series 2008 1.00% 1.00% 2.00% 2.00% Date of Issue - September 13, 2007 438,313 426,013 437,488 427,738 Term - 8 Years Fiscal Interest Principal Total Total Debt Balance of Year Rate Due 4115 Interest for Fiscal Yr Principal 2009 4.07% $ 108,257 $ 40,700 $ 148,957 $ 891,743 2010 4.07% 112,664 36,294 148,957 779,079 2011 4.07% 117,249 31,709 148,957 661,830 2012 4.07% 122,021 26,936 148,957 539,809 2013 4.07% 126,987 21,970 148,957 412,822 2014 4.07% 132,156 16,802 148,957 280,666 2015 4.07% 137,534 11,423 148,957 143,132 2016 4.07% 143,132 5,825 148,957 - 2025 4.00% $ 1,000,000 $ 191,660 $ 1,191,659 1,935,000 Aquatics Master Plan & Construction - $10,000,000 - GOIS Certificates of Obligation - Combined Tax & Revenue - Aquatics Portion $ 61030,000 Series 2010 Date of Issue - February 1, 2010 Term - 20 Years Fiscal Interest Principal Total Total Debt Balance of Year Rate Due 211 Interest for Fiscal Yr Principal 2010 $ - $ 84,635 $ 84,635 $ 6,030,000 2011 2012 2013 2014 1.00% 1.00% 2.00% 2.00% 235,000 225,000 240,000 235,000 203,313 201,013 197,488 192,738 438,313 426,013 437,488 427,738 5,795,000 5,570,000 5,330,000 5,095,000 2015 2.00% 250,000 187,888 437,888 4,845,000 2016 3.00% 245,000 181,713 426,713 4,600,000 2017 3.00% 260,000 174,138 434,138 4,340,000 2018 3.00% 260,000 166,338 426,338 4,080,000 2019 3.50% 280,000 157,538 437,538 3,800,000 2020 3.50% 280,000 147,737 427,737 3,520,000 2021 3.50% 295,000 137,674 432,674 3,225,000 2022 3.63% 300,000 127,074 427,074 2,925,000 2023 3.75% 320,000 115,637 435,637 2,605,000 2024 4.00% 325,000 103,137 428,137 21280,000 2025 4.00% 345,000 89,737 434,737 1,935,000 2026 4.13% 350,000 75,619 425,619 1,585,000 2027 4.25% 375,000 60,431 435,431 1,210,000 2028 4.25% 380,000 44,387 424,387 830,000 2029 4.38% 410,000 27,344 437,344 420,000 2030 4.38% 420,000 9,187 429,187 - $ 6,030,000 $ 2,684,766 $ 8,714,766 20 BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT DETAIL DEBT AMORTIZATION SCHEDULES W&S Projects- $16,500,000 - COs Certificates of Obligation - Combined Tax & Revenue - Aquatics Portion $ 595009000 Series 2013 Date of Issue - March 26, 2013 Term - 20 Years Fiscal Interest Principal Total Total Debt Balance of Year Rate Due 211 Interest for Fiscal Yr Principal 2013 $ - $ 44,117 $ 44,117 5,500,000 2014 2.00% 216,667 159,896 376,563 5,283,333 2015 2.00% 220,000 155,529 375,529 5,063,333 2016 2.00% 225,000 151,079 376,079 4,838,333 2017 2.00% 230,000 146,529 376,529 4,608,333 2018 2.50% 235,000 141,292 376,292 4,373,333 2019 4.00% 240,000 133,554 373,554 4,133, 333 2020 4.00% 243,333 123,888 367,221 3,890,000 2021 4.00% 248,333 114,054 362,387 3,641,667 2022 2.50% 255,000 105,900 360,900 3,386,667 2023 2.50% 263,333 99,421 362,754 3,123,334 2024 2.50% 270,000 92,754 3621754 2,853,334 2025 2.63% 280,000 85,704 365,704 2,573,334 2026 3.00% 286,667 77,729 364,396 2,286,667 2027 3.00% 295,000 69,004 364,004 1,991,667 2028 3.13% 305,000 59,814 364,814 1,686,667 2029 3.13% 315,000 50,126 365,126 1,371,667 2030 3.25% 325,000 39,923 364,923 1,046,667 2031 3.25% 336,667 29,171 365,838 710,000 2032 3.30% 350,000 17,925 367,925 360,000 2033 3.38% 360,000 6,075 366,075 - $ 5,500,000 $ 1,903,484 $ 7,403,484 21 BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT DETAIL DEBT AMORTIZATION SCHEDULES W&S Projects- Northeast WW Treatment Plant GO & Refunding - (Refunding Comb Tax & Rev COs Series 2006A) $ 21100,283 Series 2014 Date of Issue - April 1„ 2014 Term - 20 Years Fiscal Interest Principal Total Total Debt Balance of Year Rate Due 211 Interest for Fiscal Yr Principal 2014 $ 21,885 $ 21,885 $ 2,100,283 2015 2.00% $ 115,291 73,186 188,477 1,984,992 2016 3.00% 174,064 69,434 243,498 1,810,928 2017 3.00% 152,720 64,532 217,252 1,658,208 2018 3.00% 135,056 60,216 195,272 1,523,152 2019 3.00% 140,208 56,087 196,295 1,382,944 2020 4.00% 145,728 51,069 196,797 1,237,216 2021 4.00% 130,272 45,549 175,821 1,106,944 2022 4.00% 135,792 40,228 176,020 9711152 2023 4.00% 142,048 34,671 176,719 829,104 2024 4.00% 148,304 28,864 177,168 680,800 2025 4.00% 154,560 22,807 177,367 526,240 2026 4.00% 131,744 17,081 148,825 394,496 2027 3.25% 43,424 13,740 57,164 351,072 2028 3.38% 44,896 12,277 57,173 306,176 2029 3.50% 46,368 10,708 57,076 259,808 2030 3.50% 48,208 9,053 57,261 211,600 2031 3.75% 50,048 7,271 57,319 161,552 2032 3.75% 51,888 5,359 57,247 109,664 2033 4.00% 53,728 3,312 57,040 55,936 2034 4.00% 55,936 1,119 57,055 - $ 2,100,283 $ 648,448 $ 2,748,731 22 RESOLUTION NO. 235 A RESOLUTION 01' THE BOARD OF DIRECTORS OF THE BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT ADOPTING A BUDGET FOR TIME ENSUING FISCAL YEAR. BEGINNING OCTOBER I, 2014, AND ENDING SEPTEMBER 30, 2015; AND PROVIDING FOR THE EFFECTIVE DATE THEREOF. «t*rtttr+++«+trttr«++«*«****«*t*r*t*«*««*«t+rt+t++««w«**rrt*«+*rr*++«t+r**w««* BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT: Section I: That the budget estimate of (lie revenues of the Baytown Municipal Development District and the expenses of conducting the affairs thereof' for the ensuing fiscal year, beginning October I, 2014, and ending September 30, 2015, as finally submitted to the Board of Directors by the General Manager of said District be. and the same is in all things, adopted and approved as the budget estimate of all the current expenses as well as the fixed charges against said District for the fiscal year beginning October 1, 2014, and ending September 30, 2015. A copy of the budget is attached hereto as Exhibit "A" and incorporated herein for all intents and purposes. Section 2: This resolution shall take effect immediately from and after its passage by the Board of Directors of the Baytown Municipal Development District. INTRODUCED, READ, and PASSED by the affirmati of the Baytown Municipal Development District this the 7d' day ATTEST: LETICIA BRYSCH, Assistant Secretary APPROVED AS 7'O FORM: 4 ACIO RAMIREZ, SR.. 0 eral Counscl of the Board of Directors ust. 2014. DONCARLOS, %kMU501gx6alumenlFil"s City GnwcilUlunlcipal MWnpman Ui.Irie111tesnlulinns,'_0 WL\uguxtb\dnpt W-1513udEp.dnc 23 BAYTOWN S 24