Title
Conduct a public hearing and consider action to approve an ordinance on first and final reading with the caption reading: Second Supplemental Ordinance to the Master Ordinance Establishing the City Of Pflugerville, Texas Utility System Revenue Financing Program.
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 second issuance of the total authorized $164M. The first issuance in 2021 was $11.6M, and this ordinance approves an additional $31M.
Prior City Council Action
On September 14, 2021 City Council approved the First Supplemental Ordinance to issue $11.6M bonds direct placement with TWDB.
Deadline for City Council Action
Action is required on July 26, 2022 to close the bond issuance as scheduled.
Funding Expected: Revenue _x_ Expenditure __ N/A __
Budgeted Item: Yes _x_ No __ N/A __
Amount: _$31M_______
1295 Form Required? Yes __ No __
Legal Review Required: N/A __ Required _x_ Date Completed: _07/06/2022__________
Supporting documents attached:
Ordinance
Recommended Action
Approve an ordinance on first and final reading with the caption reading: Second Supplemental Ordinance to the Master Ordinance Establishing the City Of Pflugerville, Texas Utility System Revenue Financing Program.