Posting Language
Title
Approve an ordinance authorizing the issuance by Pilot Knob Municipal Utility District No. 2 (District) of Unlimited Tax Bonds, Series 2025, in an amount not to exceed $8,100,000, to be used for water distribution, wastewater collection, and drainage facilities, developer interest, legal and engineering costs, and the costs of issuance of the bonds; and waiving City Code Sections 25-9-284 and 25-9-287 to waive notice of the District's application to Council and the Water and Wastewater Commission and waive Commission review of the application to the extent required; and declaring an emergency. Funding: This item has no fiscal impact.
Body
Lead Department
Austin Financial Services
Fiscal Note
This item has no fiscal impact.
For More Information:
Belinda Weaver, City Treasurer, 512-974-7885; Virginia Collier, Program Manager III, 512-972-0117; Evan Waring, Planner Senior, 512-978-1376
Additional Backup Information:
Pilot Knob Municipal Utility District No. 2, a political subdivision of the State of Texas, was created under the laws of the State of Texas by House Bill No. 1756, Acts of the 82nd Texas Legislature, Regular Session, codified as Chapter 8376, Texas Special District Local Laws Code (Enabling Legislation), and operates under Chapters 49 and 54 of the Texas Water Code. The Enabling Legislation became effective May 23, 2011, and created the District, subject to the consent of the City to the creation.
The City consented to the creation of the District by Council action taken March 22, 2012 (Consent Ordinance) and under the terms of the Consent Agreement among the City, the District, and Carma Easton LLC, a Texas limited liability company (Developer) dated effective as of April 13, 2012 (Consent Agreement). The City and the District entered into a Strategic Partnership Agreement dated as of June 5, 2012 (as amended, the SPA), as authorized by Section 43.0751, Texas Local Government Code, which sets forth the terms and conditio...
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