Upper East Fork Wastewater Interceptor System
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Extending Resolution No. 24-08 Authorizing Refunding Bonds for Extendable Commercial Paper Bonds; Resolution No. 25-03
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SUBJECT
recommendation
Request authorization to extend Resolution No. 24-08 Refunding Bonds for the Upper East Fork Wastewater Interceptor System Extendable Commercial Paper Bonds.
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PURPOSE
The authority to issue bonds under Resolution No. 24-08 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. 25-03, A "Resolution Authorizing the Issuance, Sale, and Delivery of North Texas Municipal Water District Upper East Fork Wastewater Interceptor System Contract 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 Upper East Fork Interceptor
Project:
Multiple. Each Capital Improvement Plan Contract will be brought to the Board for consideration.
Amount:
Not to exceed $150,000,000. 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. 24-08 Authorizing Upper East Fork Interceptor System refunding bonds for Ex...
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