Regional Wastewater System
title
Revenue Refunding and Improvement Bonds, Series 2026; Resolution No. 26-18
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SUBJECT
recommendation
Adopt Resolution No. 26-18 authorizing the issuance of Refunding Bonds for the Regional Wastewater System Series 2012, 2015, and 2016 Revenue Bonds and Refunding Bonds for the Extendable Commercial Paper (ECP) Bonds.
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PURPOSE
This authorization refinances Series 2012, 2015 and 2016 Revenue Bonds and allows the District to issue bonds to refund the ECP Bonds.
RECOMMENDATION
The Executive Director and NTMWD staff recommend the Board of Directors adopt Resolution No. 26-18, “A Resolution Authorizing the Issuance, Sale and Delivery of North Texas Municipal Water District Regional Wastewater System Revenue Refunding and Improvement 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: |
Fund Improvements to the Regional Wastewater System |
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Project: |
Multiple Projects |
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Amount: |
Approximately $147.1. Actual amount to be determined at date of pricing. |
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Committee: |
This was an item on the May 13, 2026, Finance Committee meeting agenda |
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 May 13, 2026, to review the Regional Wastewater System ECP Program and Bond Refunding.
o Refunding approximately $41.2M of Series 2012, 2013, 2015 and 2016 Bonds
o Refunding approximately $105.9M of ECP Program contract award authorizations
• Staff presented timelines for the sale and a summary of the financing plan to the Finance Committee.
• At this time, it is expected that approximately $147.1 million of 2026 revenue refunding bonds will be issued. The actual amount of the bond sale will be determined on the date of pricing.
• The transaction will be sold via competitive sale on May 28, 2026. The estimated interest rate is 4.5%.
• 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.