Title
Conduct a public hearing and consider action to approve an ordinance on first and final reading with the caption reading: Third Supplemental Ordinance to the Master Ordinance Establishing the City Of Pflugerville, Texas Utility System Revenue Financing Program.
Summary
Water Treatment Plant expansion is a multi-year project anticipated to be completed by FY26. The total project cost is currently estimated at $106M. The project will be funded from multiple sources with $52M through the WIFIA loan, $24M from TWDB, and the remaining $30M through a combination of cash, impact fees and other debt issuance.
This ordinance approves the issuances of bonds directly placed with TWDB (Texas Water Development Board) for the principal amount of $24,000,000.
Prior City Council Action
The Water Treatment Plant expansion is a project in the adopted FY22 Capital Fund Budget as a part of the FY22 Budget which was adopted August 24, 2021.
Deadline for City Council Action
Council action is required on July 26, 2022 to close the loan with TWDB as scheduled.
Funding Expected: Revenue _x_ Expenditure __ N/A __
Budgeted Item: Yes _x_ No __ N/A __
Amount: $24,000,000________
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: Third Supplemental Ordinance to the Master Ordinance Establishing the City Of Pflugerville, Texas Utility System Revenue Financing Program.