DEPARTMENT: Finance
DEPARTMENT HEAD: Troy Elliott, Deputy Chief Financial Officer
COUNCIL DISTRICTS IMPACTED: City Wide
SUBJECT:
The approval of ordinances 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 one or more series of obligations designated as "City of San Antonio, Texas Water System Junior Lien Revenue and Refunding Bonds (No Reserve Fund)" (Revenue and Refunding Bonds) in an amount not to exceed $536,390,000 to 1) advance and/or currently refund outstanding City of San Antonio, Texas Water System Revenue Bonds for debt service savings; 2) refund currently outstanding Tax-Exempt Commercial Paper Notes; and 3) provide new money to fund a portion of the Capital Improvements Program of SAWS;
B. An ordinance authorizing the issuance of obligations designated as "City of San Antonio, Texas Water System Junior Lien Revenue Bonds, Series 2016D" (Series 2016D Bonds), in an amount not to exceed $12,500,000 to be sold to the Texas Water Development Board (TWDB) through the Drinking Water State Revolving Fund Program;
C. An ordinance authorizing the issuance of obligations designated as "City of San Antonio, Texas Water System Junior Lien Revenue Bonds, Series 2016E" (Series 2016E Bonds), in an amount not to exceed $14,360,000 to be sold to TWDB through the Clean Water State Revolving Fund Program; and
D. An ordinance authorizing the remarketing of the "City of San Antonio, Texas Water System Variable Rate Junior Lien Revenue and Refunding Bonds, Series 2013F (No Reserve Fund)" (Series 2013F Bonds), into a new interest rate mode and the amendment of certain terms of the ordinance authorizing the issuance of the Series 2013F Bonds.
Note: By the terms of the ordinances listed above, the total combined principal will not exceed $536,390,000.
Each of the above ordinances includes a delegation of authority by the San An...
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