The Texas Water Development Board (TWDB) met on January 10 and approved financial assistance totaling $14,794,000 for water and wastewater system projects.
Agenda item 1: Discussion regarding outreach efforts and activities by the Board.
Each member briefed on their recent outreach activities.
Agenda item 2: Consider approving the Texas Water Development Board’s Investment Policy and Strategies.
April Weiss, Executive Administrator’s Office
- There are no proposed changes to the investment strategy.
Motion to approve the proposed investment strategies prevails
Agenda item 3: Consider authorizing the Executive Administrator, Chief Financial Officer, and Development Fund Manager to take all necessary actions for the issuance, sale and delivery of Texas Water Development Board State Revolving Fund Revenue Bonds in one or more series; and approving the selection of financial advisor, bond counsel, disclosure counsel, and underwriting syndicate for the negotiation of the bond issue.
Georgia Sanchez, Executive Administrator’s Office
- If approved, bond sale will be prepared.
- The Executive Administrator would return to the Board in late February for formal approval of the bond sale.
- Hilltop Securities Inc. is recommended to serve as financial advisor, McCall, Parkhurst & Horton L.L.P. as bond counsel, and Bracewell LLP as disclosure counsel.
- Bank of America Merrill Lynch is recommended to serve as senior managing underwriter for the transaction. Recommended co-managing underwriters include BOK, FTN Financial, RBC and Wells Fargo.
Motion to adopt the proposed resolution prevails
Agenda item 4: Consider approving by resolution a request from Commodore Cove Improvement District (Brazoria County) for $154,000 in principal forgiveness from the Drinking Water State Revolving Fund for construction of a certain water system improvements.
James Bronikowski, Executive Administrator’s Office
- The District is experiencing failures with their water supply and are proposing a ceramic filtration unit to help reduce organic loadings in their water supply.
Motion to adopt the proposed resolution prevails
Agenda item 5: Consider approving by resolution a request from the City of Bonham (Fannin County) for $4,810,000 in financing from the Clean Water State Revolving Fund for planning, design, and construction of wastewater system improvements.
Heard together with item 6
Agenda item 6: Consider approving by resolution a request from the City of Bonham (Fannin County) for $9,830,000 in financing from the Drinking Water State Revolving Fund for planning, design, and construction of water system improvements.
Luis Farias, Executive Administrator’s Office
- The city operates with ageing water lines and is proposing to replace them.
- The city is above its water loss threshold.
- Both projects allow the city to replace ageing infrastructure.
Motion to adopt the proposed resolution prevails
Agenda item 7: Consider approving by resolution a request from the City of Bonham (Fannin County) for $9,830,000 in financing from the Drinking Water State Revolving Fund for planning, design, and construction of water system improvements.
No comments
The board did not meet in closed session.