DEPARTMENT: Finance
DEPARTMENT HEAD: Troy Elliott, Deputy Chief Financial Officer
COUNCIL DISTRICTS IMPACTED: City Wide
SUBJECT: Texas Water Development Board's (TWDB) Clean Water State Revolving Fund Program
SUMMARY:
This item approves the following items relating to the issuance by the San Antonio Water System of obligations for funding certain qualified wastewater and drinking water projects
A. Resolution, for the San Antonio Water System, authorizing the submittal of an application requesting financial assistance under the Texas Water Development Board's (TWDB) Clean Water State Revolving Fund Program in the amount not to exceed $25,285,000 for funding of certain qualified wastewater projects.
B. Resolution, for the San Antonio Water System, establishing the intent to reimburse itself for the prior lawful capital expenditures of funds from the proceeds of tax-exempt obligations not to exceed $25,285,000.
C. Ordinance, for the San Antonio Water System, authorizing the issuance of obligations designated as "City of San Antonio, Texas Water System Junior Lien Revenue Bonds, Series 2019B" (Series 2019B Bonds), in an amount not to exceed $33,550,000 to be sold to the TWDB through the Drinking Water State Revolving Fund Program.
The above ordinance 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/Chief Financial Officer of SAWS, as permitted by Chapter 1371, as amended, of the Texas Government Code.
This item includes resolutions authorizing submittal of an application for financial assistance and reimbursement of funds, and an ordinance authorizing the issuance of debt through the TWDB at subsidized interest rates.
BACKGROUND INFORMATION:
The San Antonio Water System (SAWS) was created on April 30, 1992 by City Ordinance 75686. SAWS serves more than 500,000 water and 450,000 wastewater customers in and...
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