Title
Conduct a public hearing and consider action to approve an ordinance on first and final reading with the caption reading: Seventh 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 Bond (City of Pflugerville Master Program - Water and Wastewater CIP Tranche 2).
Summary
There are three (3) water projects and seven (7) wastewater projects being funded from this loan. Total of the projects including contingency and financing is $359,801,937. This loan is limited to funding up to 49% of the project costs. Water Projects - 12-inch Looping Improvement (WA2402), Water Master Plan (WA2501), and Water Line Rehabilitation - Gatlinburg and Bohl's Place (WA2406). Wastewater Projects - Wilbarger Wastewater Treatment Plant (WW2001), 54-inch Wilbarger Interceptor (WW2002), 36-inch Sorento Interceptor (WW2003) 15-inch North Wilbarger Interceptor (WW2202), Cottonwood West Lift Station and Force Main (WW2302), Wastewater Master Plan (WW2301), and Water Treatment Plant 18-inch water line extension (WW2604). This funding for these projects was included in the rate model used to project the utility rates going into effect October 1, 2025.
This ordinance approves the issuance of a loan from the United States Environmental Protection Agency (EPA) under the federal WIFIA program in a principal amount up to $176,302,949 which is evidenced by a bond in that amount that will be held by EPA. The bond is payable from a pledge of the net revenues of the City’s water and wastewater utility system after the payment of operating and maintenance expenses with the same payment priority as the City’s outstanding utility revenue bonds held by Texas Water Development Board (TWDB) and the Environmental Protection Agency (EPA). The ordinance includes the WIFIA Loan Agreement, Term Sheet, and Paying Agent/Registrar Agreement.
In accordance with EPA rul...
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