AGENDA CAPTION:
Title
Consider approval of Resolution 2018-151R, directing publication of Notice of Intention to issue Combination Tax and Surplus Revenue Certificates of Obligation, Series 2018 and other matters related thereto.
Body
Meeting date: August 21, 2018
Department: Finance and Engineering/CIP
Amount & Source of Funding
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Fiscal Note:
Prior Council Action: TWDB application approval December 5, 2017. Approval to purchase the Millican Tract from SMRF August 7, 2018.
City Council Strategic Initiative: [Please select from the dropdown menu below]
Stormwater
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Comprehensive Plan Element (s): [Please select the Plan element(s) and Goal # from dropdown menu below]
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? Environment & Resource Protection - Natural Resources necessary for community's health, well-being, and prosperity secured for future development
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Master Plan: [Please select the corresponding Master Plan from the dropdown menu below (if applicable)]
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Background Information:
In December 2017 the City Council approved a resolution for the filing of an application with the Texas Water Development Board (TWDB) seeking financial assistance for the purchase of the Millican Tract. In June 2018 the TWDB approved financial assistance in the amount of $3,209,900 from the Clean Water State Revolving Fund consisting of $1,935,000 in financing and $1,274,900 in principal forgiveness for the acquisition of property and associated costs to mitigate non-point source pollution.
This action approves the notice of intent by the City to iss...
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