Posting Language
Title
Approve a resolution directing the publication of an Official Notice of Intention to Issue $22,160,000 City of Austin, Texas, Combination Tax and Surplus Revenue Certificates of Obligation, Series 2024.
De
Lead Department
Financial Services Department.
Fiscal Note
The fee to advertise the sale is estimated to cost $3,000 and will be paid from the Watershed Protection Department's FY 2024 Operating Budget. Debt service resulting from the actual sale of the Certificates of Obligation will be included in the Fiscal Year 2024-25 Proposed Operating Budget of the General Obligation Debt Service Fund.
Prior Council Action:
Approval of Resolution 20231214-066 authorizing the City Manager to apply for low-interest loans in a total amount not to exceed $22,160,000 from the Texas Water Development Board's Clean Water State Revolving Fund for the Buttermilk Creek Water Quality Improvements Project.
For More Information:
Belinda Weaver, City Treasurer, 512-974-7885.
Additional Backup Information:
State law requires publication of an Official Notice of Intention to Issue Certificates of Obligation once a week for two consecutive weeks. The date of the first publication must be 45 or more days before the date on which the City Council adopts an ordinance authorizing the issuance of the Certificates of Obligation. This proposed request for Council action will allow publication of the notice of intention in the Austin American Statesman, which is estimated to cost $3,000 for the two-week required notification.
The actual authorization and sale of the Certificates of Obligation will be pursuant to a separate Council action, which is estimated to occur in September 2024. Currently the proposed issuance and description is found below, for inclusion in the advertisement.
Texas Water Development Board Clean Water State Revolving Fund Loan for the Buttermilk Creek Water Quality Improvements Project
The Clean Water State Revolving Fund (CWSRF) is admi...
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