Title
Approving a resolution with the caption reading: "Resolution Directing Publication of Notice of Intention to Issue $27,180,000 in Combination Tax and Surplus Revenue Certificates of Obligation to Provide Funds for Waterworks and Sewer System Improvements, specifically the Water Treatment Plant Expansion project; and Resolving other Matters Relating to the Subject.”
Summary
The City applied for funding assistance with the Texas Water Development Board (TWDB) during the 2024 application process. This funding was needed to finish the Water Treatment Plant expansion project.
Prior City Council Action
Approval to apply for financial participation with TWDB - August 13, 2024
Deadline for City Council Action
The loan is set to close on Feb. 24th and has deadlines for posting notice
Funding Expected: Revenue _X_ Expenditure __ N/A __
Budgeted Item: Yes __ No __ N/A _X_
Amount: $27M
1295 Form Required? Yes __ No _X_
Legal Review Required: N/A _X_ Required __ Date Completed: ___________
Supporting documents attached:
Resolution Directing Publication of Notice of Intention (2026B)
Recommended Action
Approve resolution as presented.