Regional Water System
title
Texas Water Development Board (TWDB) Financing Agreement for the Bois d'Arc Lake / Leonard Water Treatment Plant - Phase III; Resolution No. 26-29
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SUBJECT
recommendation
Adopt Resolution No. 26-29 authorizing the execution of a Financing Agreement with the TWDB for financing the Bois d'Arc Lake (BDL) / Leonard Water Treatment Plant (LWTP), which consists of the Leonard Treated Water Pipeline No. 2 (LTWPL No. 2) project in the Regional Water System (RWS).
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PURPOSE
This bond issue finances various components of the BDL / LWTP Phase III - Leonard Treated Water Pipeline No. 2 project. The Financing Agreement with the TWDB includes financing with lower than market financing costs.
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. 26-29, "A Resolution Authorizing a Financing Agreement with the Texas Water Development Board".
Consultant:
N/A
Scope:
N/A
Project:
BDL/LWTP Phase III - Leonard Treated Water Pipeline No. 2
Amount:
N/A
Committee:
This item was reviewed with the Finance Committee on April 08, 2026.
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 January 29, 2026, NTMWD submitted an abridged application to the TWDB for financial assistance from TWDB's SWIFT Program to fund $379.020M in costs for the BDL/LWTP Phase III LTWPL No. 2 project.
* On April 17, 2026, the TWDB formally invited NTMWD to submit an application.
* On April 23, 2026, the NTMWD Board authorized filing the application for financial assistance. (CAI 26C-14 & Res. 26-11)
* On May 18, 2025, NTMWD submitted a final applica...
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