Regional Wastewater System
title
Extending Resolution No. 24-07 Authorizing Refunding Bonds for Extendable Commercial Paper Bonds; Resolution No. 25-02
end
SUBJECT
recommendation
Request authorization to extend Resolution No. 24-07 Refunding Bonds for the Regional Wastewater System Extendable Commercial Paper Bonds.
end
PURPOSE
The authority to issue bonds under Resolution No. 24-07 expires on February 21, 2025. This authorization extends the authority to March 1, 2025 and allows the District to issue bonds to refund the ECP Bonds in the event of a failed ECP remarketing. The resolution replaces the need for bank liquidity to support the ECP program.
RECOMMENDATION
The Executive Director and NTMWD staff recommend the Board of Directors adopt Resolution No. 25-02, "Extending Resolution No. 24-07 Authorizing the Issuance, Sale, and Delivery of North Texas Municipal Water District Regional Wastewater System Revenue ECP Refunding Bonds, Pledging Revenues for the Payment of the Bonds, Approving an Official Statement, and Authorizing Other Instruments and Procedures Relating Thereto."
Consultant:
N/A
Scope:
Fund Improvements to the Regional Wastewater System
Project:
Multiple. Each Capital Improvement Plan Contract will be brought to the Board for consideration
Amount:
Not to exceed $400,000,000. Actual amount to be determined at date of pricing
Committee:
This item was included in a Departmental Update at the January 8, 2025, Executive Committee meeting
DRIVER(S) FOR THIS PROJECT
Strategic Objective:
2.3 Rigorous Financial Management
? Regulatory Compliance
? Asset Condition
? Capacity
? Redundancy/Resiliency
? Relocation or External Requests
? Operational Efficiency
? Safety
? Administrative
? Policy
? Other _____________
BACKGROUND
* On February 22, 2024, the Board of Directors approved Resolution No. 24-07 Authorizing Regional Wastewater System refunding bonds for Extendable Commercial Paper. This one-year authorization exp...
Click here for full text