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CITY MANAGER’S WEEKLY UPDATE Lewisville Earns Coveted AAA Bond Rating from Two Agencies Lewisville's debt rating has been upgraded by two major rating companies, a strong sign of the city’s continued financial stability and one that will save taxpayers thousands of dollars in connection to future bond programs. Standard & Poor’s, one of the primary rating companies in the country for municipal bonds, has awarded Lewisville its highest AAA rating for both general obligation and water/sewer revenue bonds. Fitch Ratings upgraded the city to its highest AAA rating for general obligation bonds, and affirmed the current AA+ rating for water/sewer revenue bonds. Only 16 cities in Texas have AAA ratings from Standard & Poor’s for general obligation bonds, and only four have AAA ratings from Standard & Poor’s for water/sewer bonds. Only eight Texas cities have AAA ratings for general obligation bonds from Fitch Ratings. The high bond rating means the city, and its taxpayers, will benefit from the lowest available interest rates and pay less in interest and insurance costs when it issues debt for major capital projects such as roads, facilities or water/sewer lines. “This is not something that happens by accident,” said Mayor Dean Ueckert. “This is based on a history of smart budgeting and sound conservative fiscal policy that has enabled our city to provide quality services while preserving our financial stability.” Standard & Poor’s and Fitch Ratings both issue credit ratings for the debt of public and private corporations, including government agencies. The firms independently rate borrowers on a scale from AAA to D, with AAA being given to only the highest quality borrowers considered to be the most reliable and stable for investors with an “extremely strong capacity to meet financial commitments.” City officials said the ratings are based on both past financial performance and future economic prospects. “They analyze the city on so many levels – our audited financial results, sound budgeting and fiscal management, and economic growth and activity – and all of those areas need to be healthy to earn a high rating,” said Finance Director Brenda Martin. “Most of all, a city must have governance that fosters these elements. Lewisville’s city councils have been leading us toward this rating for many years.” Cities are given separate ratings for each major form of municipal debt because each relies on a different revenue stream to repay bonds. General obligation bonds are backed by city property taxes and typically are used for facilities, parks and street projects; water/sewer bonds are backed by revenue collected from water bills and are used for expansion and maintenance of the city’s water/wastewater system and treatment plants. First Choice Power, City Form Partnership First Choice Power has signed a three-year sponsorship agreement with the City of Lewisville in support of the city’s new arts center – Medical Center of Lewisville Grand Theater – and the annual Western Days festival. “I am proud to work in this community every day,” said Lake Scalise, area manager for First Choice Power. “Lewisville’s vibrant community makes it a great place to do business, and we are thrilled to give back to the people we serve.” Medical Center of Lewisville Grand Theater (MCL Grand) opened to the public in January. The 40,000-square-foot facility is the only publicly operated arts center in Southern Denton County and features two theaters, recital hall, art gallery, five classrooms and courtyard. First Choice Power has signed on as the naming sponsor for the ticket window and concession stand in the center. Medical Center of Lewisville entered into a 10-year naming rights deal for the facility last fall. Western Days is a popular street festival held each September in historic Old Town Lewisville. Believed to have started in 1964, the event draws about 20,000 people each year and expanded in 2010 to a two-day event. Highlights include two stages of live music, children’s activities, Western heritage events and the World Tamale Eating Championship. First Choice Power will be the official food court sponsor at the festival. “We are very thankful for the relationship between the City of Lewisville and First Choice Power,” said Assistant City Manager Donna Barron. “They continuously show support for our city with their active involvement, and we look forward to furthering that commitment with this multi-year partnership.” Terms of the deal are $15,000 per year and will be used to enhance programming at the MCL Grand and Western Days. Funny Bunny Festival Offers New Features for 24th Outing Lewisville Parks & Leisure Services invites the community to the 24th Annual Funny Bunny Festival on Saturday, April 16, at Toyota of Lewisville Railroad Park, 1310 Railroad Street. The event will feature an egg hunt for all ages (groups age 0-3, 4-5, 6-7 and 8-plus) at 11 a.m., carnival games, face painting, bounce houses, souvenir photos (small fee) and more. Admission is $1 per person (cash only), with children age 3 and under free. The Lewisville Noon Rotary Club will serve a pancake breakfast from 8:30 to 11 a.m. for an additional fee of $3 for ages 12 and up, children $2 and age 3 and under free. There also will be a Spring Petting Zoo by Ponies & Pals, $3 admission and $2 additional for an animal feed cup. Avoid long entrance lines by pre-purchasing admission tickets at either recreation center, which will grant entrance to the event through the Express Entrance Lane. For information, call 972.219.5061 or 972.219.3560. Inclement weather date for the egg hunt is April 23. DCTA Rail Ready Safety Days set for three rail station locations Denton County Transit Authority is preparing to launch the A-train, a regional rail line that will connect Lewisville area communities with the Dallas Area Rapid Transit (DART) system. As part of the launch, DCTA is holding community-wide safety days at three rail stations. On Saturday, April 2, a Rail Ready Safety Day will be held at 10 a.m. at the Old Town Station in Lewisville, 617 E. Main Street. Two other events will be held at the Highland Village/Lewisville Lake Station, 2998 N. Stemmons Freeway, on May 7, at 10 a.m., and at the MedPark Station in Denton, 3220 MedPark Drive, on May 21, at 10 a.m. The free events will enable DCTA to educate the community about being safe around the A-train and an active rail line. Those attending will be given the opportunity to climb aboard the A-train for a sneak peak before the line opens in June. Other local organizations will be on hand to share health and safety messages with attendees. Keep Lewisville Beautiful’s 25th Citywide Cleanup set for April 16 Keep Lewisville Beautiful will hold its 25th Annual Citywide Cleanup on Saturday, April 16. This free event will be held in conjunction with the Keep Texas Beautiful Trash Off and the Keep American Beautiful Great America Clean Up activities. Volunteers are needed for clean-up teams and on-site help. Registration begins at 8 a.m. at the Residential Convenience Center, 330 Jones Street. The event will take place from 9 a.m. to noon. Lunch will be provided along with door prizes and goodie bags. All ages are welcome. For information on registration or sponsorship opportunities, please contact Keep Lewisville Beautiful at info@keeplewisvillebeautiful.org, call 972.538.5949 or fax 866.727.8526. Clean-up volunteers should include the number of people anticipated in their group. Trash bags, gloves, grabbers, safety vests and door prizes will be provided. McGinn is Guest Speaker for Conference The City’s own, Chris McGinn with the Health Division, was one of the guest speakers at the 47th annual Store Planning, Equipment, Construction and Services Conference; (SPECS). The event took place Tuesday, March 15, 2011 at the Gaylord Texan Hotel in Grapevine, Texas. Mr. McGinn was asked to co-present with Mr. Tom Sacco, Vice President of Restaurants, DAVACO, Inc., on the subject of “Health Department Strategies –Best Practices to Manage Your Final Health Inspection”. The meeting detailed for an audience of seventy-five to a hundred how to be prepared for inspections during and after the construction phrase. Those in attendance involved business owners, managers, and others who were not only from the local area, but from other states and countries. “Make It Count” Skateboard Tour Schedules Lewisville Stop on April 9 Element Skateboards comes to the Scion Skatepark at Toyota of Lewisville Railroad Park on Saturday, April 9, for the seventh stop on the “Make it Count” International Contest Series. Entrance into each event will be free with the donation of a canned food item. All food will be donated to the Christian Community Action Food Bank. The Make It Count international skate contest series is presented by Elemental Awareness, the non-profit arm of Element Skateboards, created to educate and inspire young people to develop self-esteem, social and environmental awareness, and the tools to lead successful lives. The mission of the Make it Count contest series is to encourage the progression of skateboarding through competition. It is their goal to reward the winners with an unforgettable life experience rather than a cash prize or trophy. Through the Make it Count series, winners from each competition will be flown up to Element YMCA Skate camp on Sequoia Lake where they will have the chance to compete in the series finals to become sponsored by Element Skateboards to further propel their career in skateboarding. In addition to skateboarding, winners will get a chance to experience the beautiful natural surroundings the camp has to offer. Contest locations include: US, Europe, Japan, Australia, Brazil and Canada. Alley Repairs Between Ruidoso Run and Maxwell Dr. The City of Lewisville has contracted Stark Built Ltd. to make repairs to the alley between Ruidoso Run and Maxwell Dr. Access from the north entrance off Aspen and south entrance off Reno Run will still be available to residents. Work was scheduled to begin on Monday, March 14th and is to be completed by Friday, March 25th, weather permitting. Due to repairs, trash will be picked up in front of residences until work is completed. Street and Sidewalk Repairs on Fox Avenue The City of Lewisville Street Division has contracted with Ken-Do Contracting, LP to perform street and sidewalk repairs on Fox Ave. from Valley Pkwy. to Old Orchard Ln. Work is scheduled to begin on Wednesday, March 23, 2011 and be completed by Friday, April 22, 2011, weather permitting. Due to the use of heavy equipment, please use caution when transiting the area. Drivers should expect lane closures. Street, Sidewalk and Driveway Approach Repairs on Corporate Dr. The City of Lewisville Street Division has contracted with Ken-Do Contracting, LP to perform street, sidewalk and driveway approach repairs on Corporate Dr. from Uecker Ln. to SH 121 Business. Work is scheduled to begin on Tuesday, March 22, 2011 and be completed by Tuesday, April 5, 2011, weather permitting. Due to the use of heavy equipment, please use caution when transiting the area. Drivers should expect lane closures.
Street panel and sidewalk repairs on Garden Ridge Blvd. between Main St. and College Pkwy. Street panel, sidewalk, and drive approach repairs on Corporate Dr. between I35E and Uecker Lane Street and sidewalk repairs on Fox Ave. from Valley Pkwy. to Old Orchard Ln. Street, sidewalk and driveway approach repairs on Corporate Dr. from Uecker Ln. to SH 121 Business
Water main/valve repairs on Fox Ave. at Edmonds, Lynn Ave. and College and at Roberts and I-35
Main line cleaning in the Austin Ranch area Video inspecting on Glencairn and on Meadowlark
March 16 Library Board Meeting March 21 City Council Meeting March 28 Old Town Design Review Committee Meeting April Meetings & Events
April 5 Planning and Zoning Commission Meeting April 6 Zoning Board of Adjustment Meeting April 9 2nd Saturday Household Hazardous Waste/Electronics Collection Event April 11 Old Town Design Review Committee Meeting April 13 Park Board Meeting April 16 24th Annual Funny Bunny Festival – Railroad Park April 18 City Council Meeting April 19 CDBG Meeting April 19 Planning and Zoning Commission Meeting April 20 Library Board Meeting April 25 Old Town Design Review Committee Meeting |
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