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Title
Approve an ordinance authorizing the issuance of City of Austin Water and Wastewater System Revenue Bonds, Series 2025B (SWIRFT), in the par amount of $3,000,000 to fund Austin Water's waterline services replacement program, and approve related documents. Funding: Fiscal Year 2025-2026 debt service requirements for the proposed bond issuance are included in the 2025-2026 Approved Budget of the Combined Utility Revenue Bond Redemption Fund.
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Lead Department
Austin Financial Services.
Fiscal Note
Fiscal Year 2025-2026 debt service requirements for the proposed bond issuance are included in the 2025-2026 Approved Budget of the Combined Utility Revenue Bond Redemption Fund.
Prior Council Action:
May 8, 2025 - Council approved an application of funding from the Texas Water Development Board for a low-interest SWIFT loan, in an amount not to exceed $45,000,000 for Austin Water's polybutylene pipe replacement project.
August 28, 2025 - Council approved a financing agreement for $3,000,000 with Texas Water Development Board for Austin Water's polybutylene pipe replacement project.
For More Information:
Belinda Weaver, Treasurer, Financial Services Department, 512-974-7885.
Additional Backup Information:
On July 24, 2025, the Texas Water Development Board (TWDB) approved the City of Austin's application for a low interest, multi-year loan in the amount of $45,000,000 through the State Water Implementation Fund for Texas (SWIFT) for the implementation of Austin Water's polybutylene pipe replacement project. This multi-year loan process involves several annual loan closings with potential adjustments to loan terms. This allows Austin Water to receive a funding commitment for the Capital Improvement Program project, but to close on portions of the funding over a multi-year schedule.
Austin Water's waterline services replacement program was established to systematically replace water service lines in order to reduce water loss throughout Au...
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