DEPARTMENT: Finance
DEPARTMENT HEAD: Troy Elliott
COUNCIL DISTRICTS IMPACTED: City Wide
SUBJECT:
The approval of ordinances and resolutions related to financial matters of the San Antonio Water System.
SUMMARY:
The San Antonio Water System (SAWS) requests City Council approve:
A. An ordinance authorizing the issuance of obligations designated as "City of San Antonio, Texas Water System Junior Lien Revenue Refunding Bonds, Series 2016A (No Reserve Fund)" (Series 2016A Bonds), in an amount not to exceed $244,805,000 to refund the District Special Project Debt Obligations and refund outstanding San Antonio Water System debt for debt service savings;
B. An ordinance authorizing the issuance of obligations designated as "City of San Antonio, Texas Water System Junior Lien Revenue Refunding Bonds, Taxable Series 2016B (No Reserve Fund)" (Series 2016B Bonds), in an amount not to exceed $159,805,000 to refund the District Special Project Debt Obligations;
Note: By the terms of the ordinances for the Series 2016A Bonds and Series 2016B Bonds, the total combined principal will not exceed $244,805,000
C. An ordinance authorizing the dissolution of the District Special Project upon the retirement and termination of the District Special Project Debt Obligations;
D. A resolution authorizing the submittal of an application requesting financial assistance under the Texas Water Development Board's (TWDB) Drinking Water State Revolving Fund Program in the amount of $12,500,000 for funding of certain qualified water projects; and,
E. A Resolution establishing the City's intention to reimburse itself for the prior lawful capital expenditures of funds from the proceeds of tax-exempt obligations not to exceed $12,500,000.
Each of the above ordinances includes a delegation of authority by the San Antonio City Council to SAWS' Designated Financial Officers, defined as either the President/Chief Executive Officer or the Senior Vice President/Ch...
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