June 12, 2007
Emerald Bay Municipal Utility District
155 La Salle Drive
Bullard, Texas 75757
Dear District and CCN Residents:
The District is pleased to present its second
annual Consumer Confidence Report (CCR). The
Consumer Confidence Report is a state mandated
report and by law must contain certain subject
matter as prescribed by the Texas Commission on
Environmental Quality (TCEQ). It is intended to
insure that consumers of public water are
informed as to the condition of their public
water supply. Required information relating to
public education, where your water comes from,
public participation opportunities, and testing
results supplied to the district by the TCEQ are
included in this report.
You will notice that the “Results of Testing”
section of this report shows greatly expanded
test data as compared to last year’s report.
This is because the district was issued
conditional well permits to commence operations
in August of 2006. Those permits are based on
privately obtained lab samples and test results
submitted to the TCEQ when our water wells were
drilled. Privately obtained test results were
not supplied back to the district for last
year’s (2006) report. This year’s report,
representing calendar year 2007, contains lab
results representing state obtained samples and
test results. Those samples were taken by the
TCEQ in 2007.
Lastly, as of this date, we have had no positive
coliform or fecal coliform results since
startup.
On another subject, I am pleased to announce
that the District has completed the
restructuring of your water system revenue bond.
As some of you are already aware, the previous
interest rate on the water bond was 4.68%
amortized over 20 years with a 10 year balloon
payment now due in 8 years. (Please note that we
have been paying on the note for almost 2
years.) This balloon payment was of concern to
your board because of the uncertainty of long
term interest rates and other unstable economic
factors.
Our newly negotiated rate is 4.18%, a full .5%
lower. The risk of having an inflated interest
rate when the balloon comes due in 8 years has
been removed. Additionally, we have agreed with
Capital One Bank, the bond holder, to keep our
current payment the same over the remainder of
the note which is 18 years. This action combined
with the reduction in the interest rate will
result in an estimated $135,000.00 savings to
the District and the note will be retired before
the full 20 year team is reached.
I would like to take this opportunity to
acknowledge the District Treasurer, Ray Hartley,
and the Districts finance team headed up by
George Holmes and comprised of Jim Parker, David
Terry, and John Murphy for their contribution to
this effort. |