1 of 21

Remington MUD 1

​

November 5, 2024 Park Bond Election

​

Information Packet

​

​

For Education and Informational Purposes Only

1

“For a Spanish/Chinese/Vietnamese language version of this, please call 713-623-4531.” 

“Para obtener versiones de esto en idioma español/chino/vietnamita, sírvase llamar al 713-623-4531.” 

"Nếu quý vị cần bản chuyển ngữ tiếng Tây ban nha/tiếng Hoa/tiếng Việt của tài liệu này, vui lòng gọi số 713-623-4531."

 ”如需西班牙語/中文/越南語版本，請致電 713-623-4531."

2 of 21

District Background Info

For Education and Informational Purposes Only

2

“For a Spanish/Chinese/Vietnamese language version of this, please call 713-623-4531.” 

“Para obtener versiones de esto en idioma español/chino/vietnamita, sírvase llamar al 713-623-4531.” 

"Nếu quý vị cần bản chuyển ngữ tiếng Tây ban nha/tiếng Hoa/tiếng Việt của tài liệu này, vui lòng gọi số 713-623-4531."

 ”如需西班牙語/中文/越南語版本，請致電 713-623-4531."

3 of 21

History of the District �

  • Remington MUD No. 1 (the “District”) is a Municipal Utility District or “MUD”, which provides water, sewer, drainage, trash and recycling collection, and security/police, to serve MUD residents and taxpayers.
  • The District is a governmental entity which was created on October 8, 1986 by the Texas Commission on Environmental Quality (“TCEQ”).
  • The District operates under Chapters 49 and 54 of the Texas Water Code. The District encompasses 1,842.716 acres (see map).

For Education and Informational Purposes Only

“For a Spanish/Chinese/Vietnamese language version of this, please call 713-623-4531.” 

“Para obtener versiones de esto en idioma español/chino/vietnamita, sírvase llamar al 713-623-4531.” 

"Nếu quý vị cần bản chuyển ngữ tiếng Tây ban nha/tiếng Hoa/tiếng Việt của tài liệu này, vui lòng gọi số 713-623-4531."

 ”如需西班牙語/中文/越南語版本，請致電 713-623-4531."

3

4 of 21

History of the District �

  • The District is governed by a five-member elected Board of Directors. The Board holds a regular meeting once a month (typically 12:00 p.m. on the fourth Wednesday of every month) to manage and conduct the business and affairs of the District, and the meetings are open to the public pursuant to the Texas Open Meetings Act. Periodically, the Board will hold special meetings. By law, an agenda for each Board meeting must be posted at least 72 hours prior to the meeting.
  • As is typically done for smaller governmental entities, the District contracts with consultants such as attorneys, engineers, auditors, bookkeepers, tax assessor-collectors, operators and financial advisors to provide services, advice, and reports to assist the Board in managing the District.

​

For Education and Informational Purposes Only

“For a Spanish/Chinese/Vietnamese language version of this, please call 713-623-4531.” 

“Para obtener versiones de esto en idioma español/chino/vietnamita, sírvase llamar al 713-623-4531.” 

"Nếu quý vị cần bản chuyển ngữ tiếng Tây ban nha/tiếng Hoa/tiếng Việt của tài liệu này, vui lòng gọi số 713-623-4531."

 ”如需西班牙語/中文/越南語版本，請致電 713-623-4531."

4

5 of 21

Directors and Consultants

  • Board of Directors
    • Mr. Timothy Hardin – President
    • Mr. Larry Connelly – Vice President
    • Mr. Michael Cook – Secretary
    • Mr. Aaron Rud – Assistant Secretary
    • Mr. Richard Cannon – Assistant Secretary
  • Consultants include:
    • Schwartz Page & Harding, L.L.P. – Attorney
        • Mr. Matthew R. Reed
    • Sander Engineering Corporation – Engineers
        • Mr. Dennis Sander and Mr. Rene Hurtado
    • Rathmann & Associates, L.P. – Financial Advisor
        • Mr. Craig Rathmann
    • KGA/DeForest Design – Landscape Architect
        • Ms. Stephanie Lee

For Education and Informational Purposes Only

“For a Spanish/Chinese/Vietnamese language version of this, please call 713-623-4531.” 

“Para obtener versiones de esto en idioma español/chino/vietnamita, sírvase llamar al 713-623-4531.” 

"Nếu quý vị cần bản chuyển ngữ tiếng Tây ban nha/tiếng Hoa/tiếng Việt của tài liệu này, vui lòng gọi số 713-623-4531."

 ”如需西班牙語/中文/越南語版本，請致電 713-623-4531."

5

6 of 21

Paying for Repairs, Maintenance, and Improvements to Facilities

  • The Board of Directors acts as a steward of your money
    • Reviews monthly bookkeeping and tax collection reports, audit and other reports
    • Ensures the District remains in excellent financial condition – rated “A” by Standard & Poor’s
    • Manages a balanced budget with a healthy rainy day reserve
    • Issues bonds as necessary and only with the approval of the TCEQ and Texas Attorney General
    • The District has two sources of revenue – property taxes and water and sewer revenue

For Education and Informational Purposes Only

“For a Spanish/Chinese/Vietnamese language version of this, please call 713-623-4531.” 

“Para obtener versiones de esto en idioma español/chino/vietnamita, sírvase llamar al 713-623-4531.” 

"Nếu quý vị cần bản chuyển ngữ tiếng Tây ban nha/tiếng Hoa/tiếng Việt của tài liệu này, vui lòng gọi số 713-623-4531."

 ”如需西班牙語/中文/越南語版本，請致電 713-623-4531."

6

7 of 21

Paying for Repairs, Maintenance, and Improvements to Facilities (cont.)

  • Sources of Revenue for Lesser/Operating Costs – General Fund
    • Water and Sewer Rates
    • Maintenance Tax – Maximum Authorized Maintenance Tax Rate - $1.00
  • Sources of Payment for Major/Capital Costs
    • Bonds
      • Bond authorization
      • Bond application to TCEQ
      • Advantages – Long term financing at low interest rates with a repayment schedule that can be structured to minimize tax rate impact
    • Paid with debt tax proceeds

For Education and Informational Purposes Only

“For a Spanish/Chinese/Vietnamese language version of this, please call 713-623-4531.” 

“Para obtener versiones de esto en idioma español/chino/vietnamita, sírvase llamar al 713-623-4531.” 

"Nếu quý vị cần bản chuyển ngữ tiếng Tây ban nha/tiếng Hoa/tiếng Việt của tài liệu này, vui lòng gọi số 713-623-4531."

 ”如需西班牙語/中文/越南語版本，請致電 713-623-4531."

7

8 of 21

Water, Sewer, and Drainage (WS&D)�Prior Bond Authorizations �

  • Previously approved bond authorizations have allowed the District to issue bonds to finance the design and construction of water, sewer, and drainage facilities within and/or serving the District.

  • January 1, 1999, and May 1, 1999, WS&D bond elections authorized a total of $88,000,000, of which $18,150,000 was unissued.

​

  • Nov. 2023 WS&D bond election authorized $75,000,000 (and cancelled the unissued $18,150,000) that will allow the District to extend the useful life of critical infrastructure by financing rehabilitation and repair projects through incremental issuance of bonds, as needed, amortized over many years.

​

​

For Education and Informational Purposes Only

“For a Spanish/Chinese/Vietnamese language version of this, please call 713-623-4531.” 

“Para obtener versiones de esto en idioma español/chino/vietnamita, sírvase llamar al 713-623-4531.” 

"Nếu quý vị cần bản chuyển ngữ tiếng Tây ban nha/tiếng Hoa/tiếng Việt của tài liệu này, vui lòng gọi số 713-623-4531."

 ”如需西班牙語/中文/越南語版本，請致電 713-623-4531."

8

9 of 21

Development and Infrastructure

Remington MUD No. 1 – Residential & Commercial

  • Residential and commercial connections
    • 4,360 residential connections
    • 64 commercial connections
    • 1 connection to an apartment complex servicing 330 units
    • 40 irrigation connections
  • TOTAL: 4,465 connections
  • Roads are maintained by Harris County, excluding gated sections that are privately maintained
  • Current parks and park land surrounding MUD-owned detention ponds operated by the Stone Gate HOA

​

For Education and Informational Purposes Only

“For a Spanish/Chinese/Vietnamese language version of this, please call 713-623-4531.” 

“Para obtener versiones de esto en idioma español/chino/vietnamita, sírvase llamar al 713-623-4531.” 

"Nếu quý vị cần bản chuyển ngữ tiếng Tây ban nha/tiếng Hoa/tiếng Việt của tài liệu này, vui lòng gọi số 713-623-4531."

 ”如需西班牙語/中文/越南語版本，請致電 713-623-4531."

9

10 of 21

Development and Infrastructure

For Education and Informational Purposes Only

CANYON LAKE VILLAGES

WILLOW RANCH

MARINERS BAY

BLEVINS

DANBURY BRIDGE

BAKERS VILLAGE

NAUTICAL POINT

HARMONY SPRINGS

DEATON MILL

ASHWOOD

EVERETT POINT

CASTLE CREEK

COPPER COVE

NEWLIGHT BEND

LOST MILL

BLUFF SPRINGS

CRIMSON CANYON

MALLORY BRIDGE

KEYSTONE FAIRWAY

KEYSTONE FAIRWAY

STONEY FALLS

RUBY CANYON

ISLAND SHORES

WILLOW FAIRWAY

CANYON GATE

CANYON GREEN

CANYON GATE

SWITCHBACK

“For a Spanish/Chinese/Vietnamese language version of this, please call 713-623-4531.” 

“Para obtener versiones de esto en idioma español/chino/vietnamita, sírvase llamar al 713-623-4531.” 

"Nếu quý vị cần bản chuyển ngữ tiếng Tây ban nha/tiếng Hoa/tiếng Việt của tài liệu này, vui lòng gọi số 713-623-4531."

 ”如需西班牙語/中文/越南語版本，請致電 713-623-4531."

10

11 of 21

For Education and Informational Purposes Only

What is Bond Authorization?

  • Bond authorization acts as a line of credit.
  • Bonds are issued as needed in increments.
  • Bond authorization is voted on by the registered voters of the District in a local election.

The Process

  • The Board of Directors (the “Board”), in consultation with its consultants, determines when to issue additional bonds.
  • The Board reviews the projects to include and the tax rate impact of the issuance of additional bonds.
  • Bonds are issued to finance the costs of water, sewer and drainage facilities, and if the Park Bond election passes, park and recreational facilities.
  • Bonds are typically issued to spread the cost of facilities for approximately 25 years or for the life of the facility.
  • Once it is determined to proceed, a bond application is prepared and filed with the Texas Commission on Environmental Quality (the “TCEQ”).
  • The TCEQ has oversight responsibilities for special districts such as Remington Municipal Utility District No. 1.
  • Once financial feasibility is confirmed by the TCEQ, the bonds can be issued.
  • Issuance of bonds is a securities transaction and is competitively bid.
  • Underwriting firms will bid on the bonds. The firm that provides the lowest net interest cost will be determined to be the winner.
  • Bonds issued by the District are exempt from federal taxation, which provides a very low borrowing cost to the District.

​

Bond Election Authorization

“For a Spanish/Chinese/Vietnamese language version of this, please call 713-623-4531.” 

“Para obtener versiones de esto en idioma español/chino/vietnamita, sírvase llamar al 713-623-4531.” 

"Nếu quý vị cần bản chuyển ngữ tiếng Tây ban nha/tiếng Hoa/tiếng Việt của tài liệu này, vui lòng gọi số 713-623-4531."

 ”如需西班牙語/中文/越南語版本，請致電 713-623-4531."

11

12 of 21

Nov. 5 Park Bond - Details

​

Scope

What’s Included?

How Much?

Voting Details

For Education and Informational Purposes Only

12

“For a Spanish/Chinese/Vietnamese language version of this, please call 713-623-4531.” 

“Para obtener versiones de esto en idioma español/chino/vietnamita, sírvase llamar al 713-623-4531.” 

"Nếu quý vị cần bản chuyển ngữ tiếng Tây ban nha/tiếng Hoa/tiếng Việt của tài liệu này, vui lòng gọi số 713-623-4531."

 ”如需西班牙語/中文/越南語版本，請致電 713-623-4531."

13 of 21

Park Bond - Scope

  • MUD re-calling park bond election due to issues related to the Detention Pond Maintenance Agreement between MUD and HOA dated Nov. 24, 2004
  • Agreement assigns maintenance responsibilities for detention and drainage facilities to the MUD, while HOA responsible for maintaining amenity (recreational or park) features, on certain MUD-owned sites referred to as the "Detention Pond Sites" (see map on next page).
  • Land Tejas (developer) installed concrete liners at the lake edges, which now require repair, removal, or replacement – an expensive project. Unfortunately, neither the MUD nor the HOA currently has funds to address this issue or to improve or repair other amenities on these sites
  • If Park Bond passes, MUD will:
    • Borrow money from the bond market to remediate concrete lake edge liners, as warranted and improve or repair other amenities on the Detention Pond Sites and other MUD-owned sites, as needed
    • Have responsibility to maintain and upgrade, as warranted, property surrounding the detention pond sites, as well as be able to borrow from the bond market to address separate requests for additional sidewalks and lighting at other locations, for the benefit of Stone Gate and Canyon Gate residents

For Education and Informational Purposes Only

13

“For a Spanish/Chinese/Vietnamese language version of this, please call 713-623-4531.” 

“Para obtener versiones de esto en idioma español/chino/vietnamita, sírvase llamar al 713-623-4531.” 

"Nếu quý vị cần bản chuyển ngữ tiếng Tây ban nha/tiếng Hoa/tiếng Việt của tài liệu này, vui lòng gọi số 713-623-4531."

 ”如需西班牙語/中文/越南語版本，請致電 713-623-4531."

14 of 21

Detention Pond Sites in Park Bond

For Education and Informational Purposes Only

“For a Spanish/Chinese/Vietnamese language version of this, please call 713-623-4531.” 

“Para obtener versiones de esto en idioma español/chino/vietnamita, sírvase llamar al 713-623-4531.” 

"Nếu quý vị cần bản chuyển ngữ tiếng Tây ban nha/tiếng Hoa/tiếng Việt của tài liệu này, vui lòng gọi số 713-623-4531."

 ”如需西班牙語/中文/越南語版本，請致電 713-623-4531."

14

15 of 21

Examples of Concrete Liner Lake Edge Deterioration

For Education and Informational Purposes Only

“For a Spanish/Chinese/Vietnamese language version of this, please call 713-623-4531.” 

“Para obtener versiones de esto en idioma español/chino/vietnamita, sírvase llamar al 713-623-4531.” 

"Nếu quý vị cần bản chuyển ngữ tiếng Tây ban nha/tiếng Hoa/tiếng Việt của tài liệu này, vui lòng gọi số 713-623-4531."

 ”如需西班牙語/中文/越南語版本，請致電 713-623-4531."

15

16 of 21

Examples of Concrete Liner Lake Edge Deterioration

For Education and Informational Purposes Only

“For a Spanish/Chinese/Vietnamese language version of this, please call 713-623-4531.” 

“Para obtener versiones de esto en idioma español/chino/vietnamita, sírvase llamar al 713-623-4531.” 

"Nếu quý vị cần bản chuyển ngữ tiếng Tây ban nha/tiếng Hoa/tiếng Việt của tài liệu này, vui lòng gọi số 713-623-4531."

 ”如需西班牙語/中文/越南語版本，請致電 713-623-4531."

16

17 of 21

Potential Impact of Park Bond on Tax Rate

For Education and Informational Purposes Only

17

“For a Spanish/Chinese/Vietnamese language version of this, please call 713-623-4531.” 

“Para obtener versiones de esto en idioma español/chino/vietnamita, sírvase llamar al 713-623-4531.” 

"Nếu quý vị cần bản chuyển ngữ tiếng Tây ban nha/tiếng Hoa/tiếng Việt của tài liệu này, vui lòng gọi số 713-623-4531."

 ”如需西班牙語/中文/越南語版本，請致電 713-623-4531."

If $13.5M bond issued in 2025, annual tax on avg. home would increase ~$72.

18 of 21

Potential Streetscapes Opportunities

For Education and Informational Purposes Only

“For a Spanish/Chinese/Vietnamese language version of this, please call 713-623-4531.” 

“Para obtener versiones de esto en idioma español/chino/vietnamita, sírvase llamar al 713-623-4531.” 

"Nếu quý vị cần bản chuyển ngữ tiếng Tây ban nha/tiếng Hoa/tiếng Việt của tài liệu này, vui lòng gọi số 713-623-4531."

 ”如需西班牙語/中文/越南語版本，請致電 713-623-4531."

18

19 of 21

IMPORTANT: Authorization means issuing bonds is an option, not a requirement.

    • Proposition A – Authorizes issuance up to $27,000,000 in bonds for park projects and levy of taxes to pay off the bonds.
    • Proposition B - Authorizes issuance up to $27,000,000 in “REFUNDING” bonds to refinance and replace previously issued park bonds at lower interest rates (~refinancing home mortgage). NOT twice the amount of $27,000,000.

​

​

​

​

​

​

​

​

​

For Education and Informational Purposes Only

Ballot Propositions

“For a Spanish/Chinese/Vietnamese language version of this, please call 713-623-4531.” 

“Para obtener versiones de esto en idioma español/chino/vietnamita, sírvase llamar al 713-623-4531.” 

"Nếu quý vị cần bản chuyển ngữ tiếng Tây ban nha/tiếng Hoa/tiếng Việt của tài liệu này, vui lòng gọi số 713-623-4531."

 ”如需西班牙語/中文/越南語版本，請致電 713-623-4531."

19

20 of 21

Early Voting

  • Election will be administered by Harris County pursuant to Joint Elections Agreement with the District
  • Early voting will take place October 21, 2024 – November 1, 2024 (except holidays) during the following hours*:
    • October 21st – November 1st, 2024: 7:00am – 7:00pm
  • Early Voting will be conducted at all early voting locations for Harris County which can be found at www.harrisvotes.com or 713-755-6965

​

*Current hours, subject to change by Harris County

​

​

For Education and Informational Purposes Only

“For a Spanish/Chinese/Vietnamese language version of this, please call 713-623-4531.” 

“Para obtener versiones de esto en idioma español/chino/vietnamita, sírvase llamar al 713-623-4531.” 

"Nếu quý vị cần bản chuyển ngữ tiếng Tây ban nha/tiếng Hoa/tiếng Việt của tài liệu này, vui lòng gọi số 713-623-4531."

 ”如需西班牙語/中文/越南語版本，請致電 713-623-4531."

20

21 of 21

Election Day Voting

  • Election day voting will take place November 5, 2024, from 7:00am – 7:00pm
  • Election day voting will be conducted at any Harris County polling location. The nearest polling locations to your designated County election precinct are*:

    • Juergens Hall Community Center – Dance Hall – 26026 Hempstead Hwy
    • Richard & Meg Weekley Community Center – Room 200– 8440 Greenhouse Road
    • Prairie View A&M University Northwest – 107/108 – 9449 Grant Road
    • Steve Radack Community Center – Conference Room – 18650 Clay Road
    • City of Jersey Village City Hall – Civic Center in Municipal Meeting Room– 16327 Lakeview Drive

​

*Current locations, subject to change by Harris County

​

​

​

For Education and Informational Purposes Only

“For a Spanish/Chinese/Vietnamese language version of this, please call 713-623-4531.” 

“Para obtener versiones de esto en idioma español/chino/vietnamita, sírvase llamar al 713-623-4531.” 

"Nếu quý vị cần bản chuyển ngữ tiếng Tây ban nha/tiếng Hoa/tiếng Việt của tài liệu này, vui lòng gọi số 713-623-4531."

 ”如需西班牙語/中文/越南語版本，請致電 713-623-4531."

21