Title
Conduct a public hearing and consider action to approve an ordinance on first and final reading with the caption reading: Fifth Supplemental Ordinance to the Master Ordinance Establishing the City of Pflugerville, Texas Utility System Revenue Financing Program Authorizing the Issuance of the City’s Utility System Revenue Bonds, Series 2024A.
Summary
This ordinance approves the issuance of bonds directly to TWDB (Texas Water Development Board) to fund the Wastewater Treatment Plant expansion. In 2021, TWDB authorized $164M total funding for the project. The overall project includes: Central WWTP (wastewater treatment plant) expansion phase 2, Wilbarger WWTP 6.0 MGD, Wilbarger wastewater interceptor, and Sorento wastewater interceptor phase 2.
This will be the third and final issuance of the total authorized $164M.
Prior City Council Action
On September 14, 2021 City Council approved the First Supplemental Ordinance to issue $11.6M bonds direct placement with TWDB.
On October 25, 2022 City Council approved the Second Supplemental Ordinance to issue $31M bonds direct placement with TWDB.
Deadline for City Council Action
Action is required on January 9, 2024 to close bonds as scheduled for February 7, 2024.
Funding Expected: Revenue _X_ Expenditure __ N/A __
Budgeted Item: Yes _X_ No __ N/A __
Amount: __$122M______
1295 Form Required? Yes __ No _X_
Legal Review Required: N/A __ Required _X_ Date Completed: ____12/19/2023_______
Supporting documents attached:
Fifth Supplemental Ordinance
Recommended Action
Approve an ordinance on first and final reading with the caption reading: Fifth Supplemental Ordinance to the Master Ordinance Establishing the City of Pflugerville, Texas Utility System Revenue Financing Program Authorizing the Issuance of the City’s Utility System Revenue Bonds, Series 2024A.