Posting Language
Title
Approve a resolution declaring the City's official intent to reimburse itself from proceeds of tax-exempt obligations in the aggregate principal amount of $260,000,000 for acquisition and construction costs related to Fiscal Year 2025-2026 Austin Water Capital Improvement Projects. Funding: available in Austin Water’s Capital Budget. A fiscal note is attached.
De
Lead Department
Austin Water.
Fiscal Note
Issuance of $260,000,000 in tax-exempt obligations to be issued through October 2026. A fiscal note is attached.
For More Information:
Inquiries should be directed to Austin Water Program Coordinator Vicky Addie, at 512-972-0332, or Vicky.Addie@austintexas.gov.
Additional Backup Information:
For the City to spend money today and reimburse itself from the issuance of debt obligations in the future, a reimbursement resolution is required by state and federal law. The resolution must contain certain information to protect the tax-exempt status of the future issuance. Failure to adopt a qualified declaration of official intent will prohibit the City from reimbursing the cost with the proceeds of tax-exempt obligations. Reimbursement debt generally must be issued 18 months after the later of, the date the expenditure was made, or the date that the project, with respect to which the expenditure was made, is placed in service.
This action expresses the City Council’s intent to authorize the reimbursement for costs associated with Capital Budget items for water and wastewater system improvements as described below:
WATER SYSTEM
|
FUND |
DESCRIPTION |
|
3960 |
Improvements to and expansions of the waterworks system and facilities. |
|
3990 |
Improvements to and expansions of the reclaimed water system. |
|
4250 |
Texas Water Development Board loan reimbursements for State Water Implementation Fund of Texas Program. |
|
4270 |
Texas Water Development Board loan reimbursements for State Revolving Fund Program. |
WASTEWATER SYSTEM
|
FUNDDESCRIPTION |
|
|
4530 |
Improvements to and expansions of wastewater system and facilities. |
|
4570 |
Improvements to and expansions of the sanitary sewer system and wastewater facilities. |
|
4600 |
Texas Water Development Board loan reimbursements for State Water Implementation Fund of Texas Program. |
|
4620 |
Texas Water Development Board loan reimbursements for State Revolving Fund Program. |
|
4630 |
Texas Water Development Board loan reimbursements for Flood Infrastructure Fund Program. |
|
4680 |
Vehicle acquisitions. |
RECLAIMED WATER SYSTEM
|
FUND |
DESCRIPTION |
|
3990 |
Improvements to and expansions of the reclaimed water system. |
|
4020 |
Texas Water Development Board loan reimbursements for State Water Implementation Fund of Texas Program. |
|
4030 |
Texas Water Development Board loan reimbursements for State Revolving Fund Program. |