Title
Discuss and consider action to approve a resolution with the caption reading: "Resolution Expressing Official Intent to Reimburse Certain Expenditures" (from Revenue Bond issuance)
Summary
This resolution will allow the City of Pflugerville to expend funds for the projects related to the planning, acquisition, design and construction of improvements to the City's wastewater system, including constructing the Wilbarger Creek Regional Wastewater Treatment Facility and wastewater interceptors and related costs and the acquisition of any necessary easements or land and legal, fiscal and engineering fees in connection with such projects. The Issuer reasonably expects to incur debt, as one or more separate series of obligations, with an aggregate maximum principal amount not to exceed $11,630,000 for the purpose of paying the costs of the Projects.
The resolution was prepared by Mr. Richard Donoghue, bond counsel. Mr. Donoghue will be available at the City Council meeting to address any questions about this resolution.
Prior City Council Action
On August 11, 2020, the City Council approved a resolution authorizing an application to the Texas Water Development Board for financial assistance anticipated to be in the form of tax-exempt revenue bonds issued by the City in several installments to be purchased by the Texas Water Development Board for these projects.
Deadline for City Council Action
Action is requested on January 12, 2021.
Fiscal Impact
Funding Expected: Revenue __ Expenditure __ N/A _X_
Budgeted Item: Yes __ No __ N/A _X_
Amount: __n/a__
1295 Form Required? Yes __ No _X_
Legal Review Required: N/A __ Required_X_ Date Completed:_12/11/20_
Supporting documents attached:
Reimbursement Resolution
Proposed 2020 Issuance Project List
Recommended Action
Approve the resolution expressing official intent to reimburse certain expenditures.