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 ten 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 2020 Census population for the City was 909,585, while the estimated 2024 population is 812,238. The City covers approximately 358 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 2024, the system has over 779,920 billable storm water units.

Special Tax Revenue Credit:

Pledged revenues, related to the City of Fort Worth’s 2017A, 2017B, 2023A, and 2023B 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 and 2023A 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. Five water treatment plants and one reclamation facility can deliver a peak day production of 512 million gallons per day. There are more than 4,040 miles of pipe in the water distribution system and 3,926 miles in the collection system. The system serves more than 1.4 million people in Fort Worth and surrounding areas, which include 33 water wholesale customers, 23 wastewater wholesale wastewater customers and three wholesale reclaimed water customers.

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.