Regional Water System
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Regional Water System Revenue Refunding Bonds, Series 2026; Resolution No. 26-30
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SUBJECT
recommendation
Adopt Resolution No. 26-30 authorizing the issuance of Revenue Refunding Bonds, Series 2026 to refinance selected maturities of the Regional Water System Series 2016 Revenue Refunding and Improvement Bonds.
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PURPOSE
This authorization refinances selected maturities of the Series 2016 Revenue Refunding and Improvement Bonds.
RECOMMENDATION
The Executive Director and NTMWD staff recommend the Board of Directors adopt Resolution No. 26-30, “A Resolution Authorizing the Issuance, Sale and Delivery of North Texas Municipal Water District Water System Revenue Refunding Bonds, Series 2026, Pledging Revenues for the Payment of the Bonds, Approving an Official Statement, and Authorizing Other Instruments and Procedures Relating Thereto.”
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Consultant: |
N/A |
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Scope: |
Refinance selected maturities of the Series 2016 Regional Water System Revenue Refunding and Improvement Bonds |
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Project: |
N/A |
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Amount: |
Approximately $150.1M. Actual amount to be determined at date of pricing. |
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Committee: |
Staff reviewed with the Finance Committee on July 8, 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
• The Finance Committee met on July 8, 2026, to review the Regional Water System’s Extendable Commercial Paper (ECP) Program and bond refunding opportunity.
o Refunding approximately $150.1M of Series 2016 Bonds
• A timeline for the sale and a summary of the financing plan were presented to the Finance Committee.
• At this time, it is expected that approximately $150.1 million of 2026 revenue refunding bonds will be issued. The actual amount of the bond sale will be determined on the date of pricing.
• Approximately $11M in debt savings from 2027-2038 with estimated net present value savings percentage of 5.6%.
• The transaction will be sold via competitive sale on August 27, 2026, and the estimated interest rate is 3.77%.
• NTMWD bond counsel, McCall, Parkhurst & Horton, LLP, has prepared the attached Bond Resolution.
• Representatives from McCall, Parkhurst & Horton, LLP, as well as Hilltop Securities, Inc., will be available at the Board meeting to review the documents and financing procedures.
FUNDING
No funding is requested.