Stewart Creek West Regional Wastewater System
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A Resolution Expressing Official Intent to Reimburse Costs of Acquiring, Designing, Constructing, and Improving the Stewart Creek Wastewater Treatment Plant - Rehabilitation and Expansion Project; Resolution No. 26-44
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SUBJECT
recommendation
Adopt Resolution No. 26-44 authorizing reimbursement to the District for cash financed expenditures for the costs of acquiring, designing, constructing, and improving the Stewart Creek Wastewater Treatment Plant.
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PURPOSE
Should cash financing be used to acquire, design, construct and improve the Stewart Creek Wastewater Treatment Plant, the Reimbursement Resolution allows the District to reimburse itself with bond proceeds for capital expenditures incurred 60 days prior to adoption of the resolution and for future expenditures.
RECOMMENDATION
The Executive Director, NTMWD staff, McCall, Parkhurst and Horton, LLP, NTMWD Bond Counsel, and Hilltop Securities, Inc., NTMWD Financial Advisor, recommend the Board of Directors adopt Resolution No. 26-44, “A Resolution Expressing Official Intent to Reimburse Costs of Acquiring, Designing, Constructing and Improving the Stewart Creek Wastewater Treatment Plant - Rehabilitation and Expansion Project”.
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Consultant: |
N/A |
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Scope: |
Execution of Reimbursement Resolution |
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Project: |
Stewart Creek WWTP - Rehabilitation and Expansion Project |
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Amount: |
N/A |
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Committee: |
This item was reviewed with the Wastewater Committee on October 21, 2026 |
DRIVER(S) FOR THIS PROJECT
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Strategic Objective: |
2.3 Rigorous Financial Management |
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☐ Regulatory Compliance |
☐ Asset Condition |
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☐ Capacity |
☐ Redundancy/Resiliency |
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☐ Relocation or External Requests |
☐ Operational Efficiency |
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☐ Safety |
☒ Administrative |
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☐ Policy |
☐ Other _____________ |
BACKGROUND
• Resolution No. 26-44 will provide NTMWD with the option to be reimbursed for expenditures incurred 60 days prior to October 22, 2026, and all future expenditures on or after October 22, 2026, in an amount not-to-exceed $23,111,000 for the cost of planning, procuring, designing, constructing, expanding and improving the Stewart Creek Wastewater Treatment Plant.
• Frisco has advanced approximately $2,961,650 to date for the Project, which the District anticipates reimbursing with bond proceeds in the future.
• Resolution No. 26-44 is necessary to satisfy certain federal tax law requirements relating to such reimbursement and has been reviewed by McCall, Parkhurst and Horton, bond counsel for NTMWD.
FUNDING
No funding is requested.