Ratings Past and Present

1
Ratings - Past and Present

• Florida Government Finance Officers Association
• June 1, 2009
• Marcia Dedert
• Finance Director/City Treasurer
• marciad_at_cityofpsl.com

2

• Incorporated in 1961.
• Location Near the Atlantic Ocean.
• 120 miles South of Orlando.
• 100 miles North of Miami.

3

• Population in 1999 83,254
• Population in 2008 157,896
• Increases over 10 years 77,462 93
• City currently encompasses 116 square miles. The
  Water Wastewater service area is 200 square
  miles.

4

• City has 36 outstanding issues totaling slightly
  over 1 Billion.
• 2 General Obligation Bonds
• 21 Revenue Bonds
• 13 Special Assessment Bonds

5

• City has issued or refunded 43 issues in the past
  8 years.
• Assured Guaranty Corp
• Majority of Port St. Lucie bonds are insured by
  MBIA
• MBIA Illinois National Public Finance
  Guarantee Corp.
• FCIC Reinsured by MBIA
• AMBAC

6

• Finance Team
• City Manager Donald Cooper
• Finance Director Marcia Dedert
• Utility Director Jesus Merejo
• Engineering Patricia Roebling
• Underwriters RBC Capital Markets

7

• Agenda
• Recent Events Impacting the City.
• Financial Position of the City.
• Discuss of Utility System.
• Financial Position of the Utility System.

8

• Agenda (continued)
• Structure of the Bond Issue.
• Upcoming Financing of the City.
• Positive Trends / Attributes of the City.
• Questions.

9

• Information Required
• Current CAFR
• Monthly Budget to Actual Statement
• Monthly Financial Statement Utility System
• Update on Current Debt.

10

• Information Required (continued)
• Update on Swap Valuations
• Current Revenues
• CAFR Comparison

11

• Follow-up
• Questions