2,3 Consider ale letter o£
~~t ~ Subson °CYPress~
P~O~~~bvi~sion, P~~-i'ct
SeP~~~r 19, 1998
Vol V Pa4e 791
2.3 Consider irrevocable letter of credit as substitution
for the performance bond on Cypress Springs Subdivision,
Precinct 4. (County Engineer/Gary Moran)
Discussion Only - Official Court Transcript on Record.
COMMISSIONERS' COURT AGENDA REQUEST
,-- "PLEASE FURNISH ONE ORIGINAL AND FIVE COPIES OF THIS REQUEST AND
DOCUMENTS TO BE REVIEWED BY THE COURT
MADE BY: Franklin Johnston. P.E.
MEETING DATE: Seatember 14. 1998
OFFICE: Road & Bridge Department
TIME PREFERRED:
SUBJECT:(PLEASE BE SPECIFIC): Consider irrevocable letter of credit as substitution for the
performance bond on Cyoress Springs Subdivision (Pct 4)
EXECUTIVE SESSION REQUESTED: YES
NO XX
PLEASE STATE REASON: Consider irrevocable letter of credit as substitution for the
performance bond
~.
_STIMATED LENGTH OF PRESENTATION: 10 minutes
PERSONNEL MATTER -NAME OF EMPLOYEE:
NAME OF PERSON ADDRESSING THE COURT: Franklin JohnstoNGa~r r Moran
Time for submitting this request for Court to assure that the matter is posted in accordance with TiOe 5, Chapters 551 8 552 of the
GovemmeM Code is as follows.
Meetings held on first Monday: 5:00 P.M. previous Tuesday
Meetings held on Thursdays: 5:00 P.M. previous Thursday
THIS REQUEST RECEIVED BY:
THIS REQUEST RECEIVED ON:
All Agenda Requests will be screened by the County Judges Office to determine if adequate information has been prepared for the
Court's formal consideration and action a[ time of Court meetings. Your cooperation will be appreciated and contribute towards your
request being addressed at the earliest opportunity. See Agenda Request Guidelines.
.0Q/17/1998 16:44 5128940771 IM&R PAGE 02
/i~..~b...4.
IIWFSTMLNT' MANAGEM~.N'T & R~,SF.ARCH, INC. ~,°;~. 'f „ , itobin.on
In t'gnwHant
;.'"~irdnch Marlc~ger
~:..
August 17,1998
Mr. FraNdin Jotnson
tCetr Cotrtty
Rand and Bridge Division
Dear Mr. Johrmon,
Pursuant tD our conversatlon, 1 have faxed with this letter a sample of olx irrovocsble
letter of credit for atrbstibl5on for the pertomtance bond required for Whklbe8
Properties. Incase you aro not famiiar with Rayrrrorld James and Associates, parent
company of Rayrrgrrd James Bank, we aro a New York Stock Exr~ange frrrr with a
biAiorl dolan in revenue annually. t can pravida you addi8onal iMorrrlation as
needed.
ThaNr you so much for you assistance in this nmtter. Please caM wilh any questions
Iron may have.
~^ ~ ,
liatndatl Rodnson
Branch Manager
151 loop 64. SuHe A P.O.6ox 1104 D~Ing Springs Texcu 78620 (512) 894J470 Office
(512) 8944771 Fax •800-650-9517
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RAYMOND JAMES BANK. Fs6
Balance Sheet Statement of Operations
Financial information jor quarterly financial statement and press release.
BALANCE SHEET
ASSETS 6130/98
Cash	$	32,771,184
Receivades	$	1,170,845
Investment Securitles	$	331,306,164
Loans	$	40,999,514
Net Fixed Assets	$	3,609,161
Net Purchase Premium	$	-
Other Assets	$	274,468
Total Assets	$	410,131,336
LUU31L1'fIES 8 EQUITY
Deposits	$	372,566,763
Payables	$	5,310,370
Accrued Compensafron	$	186,198
Intercompany	$	50,642
Other Liabili8es	$	196,180
Total Liabilities	$	378,310,153
Common Stock	E	10,000,000
Paid in Capital	$	18,302,116
valuation Account	$	266,642
Retained Earnings -Prior	$	2,345,027
Net Income YTD	$	907,398
Total Equity	$	31,821,183
Total Liabilities 8 Equity $ 410,131,336
ATft 16 PM
IanME xk. Tab FinSlmt
OPERATING STATEMENT
Throe Months Throe months Nine Months Nine Months
INCOME ending 8/30/98 ending 6/30197 ending 6/30!98 ending 8/30/97
Interest Income $ 5,832,666 $ 4,911,242 $ 18,522,223 $ 12,575,790
Interest Expense $ 4,439,338 $ 3,649,757 $ 12,427,443 $ 9,102,924
Net Interest Income $ 1,393,328 $ 1,261,485 $ 4,094,780 $ 3,472,866
Less: Reserve for Loan Loss $ 104,601 $ 67,859 $ 222,719 $ 108,581
Other Income $ 97,441 $ 11,719 $ 211,448 $ 48,770
Net Interest Inc. 8 Other Inc.
EXPENSES
1,386,168 $ 1,205,345 $ 4,083,509 $ 3,413,055
Data Processing	$	39,495	$	41,078	$	122,685	$	110,317
Dale Communiption	$	92,710	$	46,857	$	256,211	$	133,219
Ocaapancy & Equipment	$	96,763	$	67,455	$	228,318	$	197,385
Salaries & Benefits	$	375,737	$	356,202	$	1,014,487	$	898,006
Business Development	$	22,521	$	17,109	$	60,851	$	47,397
Purchase Premium Amort.	$	-	$	12,810	$	-	S	89,814
SAIF Premium (FDIC)	$	51,719	$	36,457	$	143,996	$	149,197
Other Expenses	$	262,659	$	226,286	$	779,016	$	678,687
Total Non-Interest Expenses	$	941,604	S	804,254	S	2,605,562	$	2,304,022
Net Income Bef Taxes 8 Sec G/L	$	444,564	$	401,091	$	1,477,947	$	1,109,033
Taxes	$	171,849	$	154,765	$	570,549	$	428,336
Net Income $ 272,715 $ 246,326 $ 907,398 $ 680,697
~.
Raymond James Financial /Press Release - 3rd... Page 1 of 3
PLANNING FOR LIFE
About Raymond
James P9naricial
Raymond James Financial Reports Record Third
Quarter Revenues
Release No. 798-4
July 14, 1998 FOR IMMEDIATE RELEASE
RAYMOND JAMES FINANCIAL REPORTS
RECORD THIRD QUARTER REVENUES
ST. PETERSBURG, Fla. -- Raymond James Financial, Inc. today reported record
revenues for its third fiscal quarter ended June 26.
Net income for the quarter was $22,791,000, or $0.46 per diluted shaze, on revenues
of $275,791,000. This compazes to net income of $17,140,000, or $.35 per diluted
shaze, on revenues of $210,118,000 for the compazable prior year quarter.
Net income for the nine months was $70,236,000 as compared to 1997's $53,649,000,
excluding the one-time gain from the sale of the Company's interest in Liberty
,-. Investment Management, while earnings per diluted share rose to $1.41 from $1.11.
Compazable nine-month revenues increased to $795,633,000 over the $624,286,000
in the previous yeaz, again excluding the sale of Liberty.
According to Thomas A. James, chairman and CEO, "Quarterly results were
bolstered by a 28 percent increase in commissions, a 40 percent increase in
investment banking and a 72 percent increase in investment advisory fees over last
year's compazable quarter.
"Net income included the recognition of the sale of RJ Properties stock and residual
interests, which enhanced recurring operating results by $2,700,000 after-tax," he
continued. "On the other side of the ledger, as we prophesized, the regulatory changes
in Over-the-Counter trading methodology eliminated its prior contributions to net
revenue and income.
"Operating margins were compressed by the addition of Tower 3 and related
infrastructure to our headquarters complex and growth in our branch system, which
ballooned occupancy and equipment costs by 33 percent," according to James.
"Nonetheless, both income and profit growth are consistent with our long-term 20
percent objectives.
"Although we expect expense growth to exceed normal levels for the next several
quarters, the outlook remains favorable, as our investment banking pipeline is full,
'^ investment advisory assets aze growing rapidly and financial advisor results are at
record levels," he concluded.
http://www.rj f.com/Q398.HTM 8/27/98
Raymond James Financial /Press Release - 3rd...
$795,633 $654,932 21
70,236 72,938 - 3
Raymond James Financial(NYSE - RJF) provides financial services to individuals,
^ corporations and municipalities through its three wholly-owned investment firms,
Raymond James & Associates, Investment Management & Research and Robert
Thomas Securities, which have 3,200 Financial Advisors in nearly 1,200 locations
throughout the United States and overseas, as well as through its asset management
subsidiaries which currently manage in excess of $11 billion.
Raymond James Financial, Inc.
Unaudited Report
for the third quarter ended June
(all data in thousands, except per share earnings)
Third Quarter Nine Months
Percent Percent
1998 1997 Change 1998 1997 Change
Revenues $275,791	$210,116	31
Net Income 22,791	17,190	33
Earnings Per		
Share - Basic+ .47	.36	31
Earnings Per		
Share - Diluted+ .46	.35	31
Revenues -		
~ Excluding one-		
time gain*		
Net Income -		
Excluding one-		
time gain*		
Earnings Per		
Share - Excluding		
one-time gain		
- Basic*+		
Earnings Per		
Share - Excluding		
one-time gain		
- Diluted*+		
Average Shares
Outstanding
- Basic+
Average Shares
Outstanding
- Diluted+
96,351 47,999
49,954 48,728
Book Value+
1.46 1.53 - 5
1.41 1.50 - 6
$795,633 $624,286
70,236 53,649
Page 2 of 3
27
31
1.46	1.13 29
1.41	1.11 27
48,086	47,317
49,889	48,308
10.19	8.35
^ *A gain of $30.6 million was recognized in January 1997 arising from the sale of the
company's interest in Liberty Investment Management.
+ Adjusted for the three-for-two stock splits paid Apri12, 1998 and Apri13, 1997.
http://www.rj£com/Q398.HTM 8/27/98
Raymond James Financial /Press Release - 3rd... Page 3 of 3
For additional information, please contact
^ Lawrence Silver at 813-573-3800
or lsilver e,market.tjf.com.
Updated July 14, 1998
Copyright ®1998, Raymond James Financial, Inc.


http://www.rjf.com/Q398.HTM 8/27/98
-~mr
INVESTMENT MANAGEMENT & RESEARCH, INC.
Member NASD/SIPC
September 2, 1998
Franklin Johnson
Kerr County Road & Bridge Department
4010 San Antonio Highway
Kerrville, Texas 78028
Dear Mr. Johnson:
Randall Robinson
Investment Consultant
Branch Manager
.- Enclosed is the infon~nation you requested on Raymond James Back regarding a letter of
credit in lieu of a performance bond for Whidbee Properties. Please review this
information and let me lmow if you need additional information
Thank you for your help.
Sincerely,
Randy Robinson
T
151 Loop 64, Sulte A P.O. Box 1104 Dripping Springs, Texas 78620 (512) 894-3470 Office
(512) 894-0771 Fax • 800~1i50-9517
Balance Sheet
(as of September 30, 199
Unaudited
Assets
Cash	S 2,935,797
Receivables	1,021,656
Investmrnt securities	305,242,022
Loans	18,959,590
Net fixed assets	186,820
Net purchase premium	-
Other assets	173.336
Total assets	5328,519,221
Liabilitles and Equlal
Deposits
Payables
Accrued compensation
Intercompany
Other liabilities
Total liabilities
Common stock
Paid-in capital
Valuation account
Retained earnings
(prior year)
Net income Y1'D
S299,885,386
373,392
186,083
43,368
375,050
5300,863,279
S 10,000,000
15,000,000
310,916
1,411,308
933,718
Total equity S 27,655,942
Total liabilities
and equity 5328,519,221
Statement of Operations
Unaudited
Months Ended Twelve Moatbs Eaded
Iber 30,1997 September 30,1996
a
hn:ome '~'
Interestlncome S 17,695,100 S 11,979,665
Interest expense ' 13,010,555 7,784,398
Net interest income S 4,684,545 4,195,267
Less: Reserve for loan loss 127,422 64,089
Other income 80,912 150,341
Ne[ interest income
and other income
S 4,638,035
S 4,281,519
Expenses
Data ptrocessing
Data communication
Occupancy and equipment
Salaries and benefits
Business development
Purchase premium amottl~ation
SAIF premium (FDIC)
Other expenses
S 153,637
197,807
266,752
~ 1,225,272
85,532
89,814
193,845
903,987
S 191,680
116,139
245,371
825,625
112,457
154,008
871,191'
749,278
Total non-Interest expenses	5 ~	3,116,646	S	3,265,749
Net income before taxes Fc securitles G/L	S ~	1,521,389	S	1,015,770
Taxes
S ' 587,671
S 391,596
Net Income S ~' 933,718 S 624,174
SAIF Aemunent Footrtae:'In September
imurtd $AIP ('Sntingr Asrocucian Imw~n
J~ Benk, this uruunent nwlo
imp~aing nmingr for hock cMc gturter,td i
I~tt fU Mtll(YpltlbYd ImtlNtlOm MS ICdUr