HomeMy WebLinkAboutIR 8877INFORMAL REPORT TO CITY COUNCIL MEMBERS No. QQ��
To the Mayor and Members of the City Council September 25, 2007
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� � SUBJECT: INTENDED USE OF SERIES 2007A AND 2007B WATER AND SEWER
� T� SYSTEM SUBORDINATE LIEN REVENUE BOND PROCEEDS
BACKGROUND
The purpose of this Informal Report is to provide information to the City Council regarding M&C G-15891
which is recommending the adoption of ordinances authorizing the sales of subordinate lien revenue bonds
to the Texas Water Development Board (TWDB).
Each year funds for low interest rate loans are made available to water and sewer utilities from the TWDB
through the State Revolving Fund (SRF) loan program. In October of 2006, the City Council authorized
the Water Department to submit applications for loans with the TWDB for Drinking Water and Clean
Water SRF loan programs. The TWDB approved both applications and subordinate lien revenue bonds will
be issued for the Drinking Water SRF program in the amount of $49,865,000 and for the Clean Water SRF
program in the amount of $33,560,000. Funds for the estimated annual debt service related to these bond
issuances, in the amount of $5,760,000 have been budgeted in the Fiscal Year 2008 operating budget.
DRINKING WATER STATE REVOLVING FUND
The project to be funded with the Drinking Water SRF loan was recommended in the update to the Fort
JVorth Water Master Plan, completed in 2004, to meet growth and peaking demands and to provide
„ operation redundancy on the west side of Fort Worth. This project includes the design and construction of
a raw water line connecting the proposed North West Water Treatment Plant (NVVWTP) with the Tarrant
Regional Water District's raw water line, design and construction of a 15 million gallon per day water
treatment plant, design and construction of a high service pump station and construction of the water trans-
mission main required to convey treated water from the proposed NWWTP to existing water system mains.
CLEAN WATER 5TATE REVOLVING FUND
The projects to be funded with the Clean Water SRF loan were recommended in the current Fort Worth
Wastewater Master Plan to provide additional wastewater collection capacity due to the growth of Forth
Worth and its wholesale customers on the south side of Forth Worth, as well as to reduce overflows and the
amount of inflow and infiltration into the wastewater system. These projects include the construction of
two sanitary sewer parallel relief mains. The parallel relief Main 325 includes construction for
approximately 23,0761inear feet of 42-inch diameter sanitary sewer pipe. Parallel Relief Main 257 will be
divided into two phases. Phase I includes the design and construction of 31,3001inear feet of 66-inch
diameter sanitary sewer pipe, and Phase II includes 1,6001inear feet of 54-inch diameter sanitary sewer
pipe and 13,400 linear feet of 42-inch sanitary sewer pipe.
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;harles R. Boswell
'' City Manager
ISSUED BY THE CITY MANAGER FORT WORTH. TEXAS