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HomeMy WebLinkAboutResolution 5950-05-2024 (2)A Resolution NO.5950-D.&2024 REQUESTING FINANCIAL ASSISTANCE FROM THE TEXAS WATER DEVELOPMENT BOARD IN THE AMOUNT OF $125,000,000.00 FROM THE STATE WATER IMPLEMENTATION FUND FOR TEXAS (SWIFT) FOR THE WATER DEPARTMENT; AUTHORIZING APPLICATION AND RELATED ACTIONS; AND MAKING CERTAIN FINDINGS WHEREAS, the Texas Water Development Board's mission includes providing leadership, technical services, and financial assistance to support planning, conservation, and responsible development of water for Texas; and WHEREAS, State Water Implementation Fund for Texas provides low interest loans to help communities develop and optimize water supplies at cost effective rates for projects in the State Water Plan; and WHEREAS, the City of Fort Worth, Texas (the "City") deems i t necessary to apply to the Texas Water Development Board for financial assistance in an amount no t to exceed $125,000,000.00 for the Eagle Mountain Water Treatment Plant —35 MGD Expansion Project; and WHEREAS, in accordance with the rules and regulations for making such application to the Texas Water Development Board, the City Council is required to adopt a resolution to accompany such application; and WHEREAS, consideration of this Resolution is occurring in a meeting open to the public, and public notice of the time, place and purpose of the meeting was given as required by Chapter 551, Texas Government Code. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS, THAT: Section 1. An application is hereby approved and authorized to be filed with the Texas Water Development Board seeking financial assistance in an amount not to exceed $125,000,000.00 for the Eagle Mountain Water Treatment Plant — 35 MGD Expansion Project, and the Texas Water Development Board is hereby requested to grant such financial assistance. Section 2. The Fort Worth City Manager or his designee be and is hereby designated the authorized representative of the City of Fort Worth and the Fort Worth Water Department for purposes of furnishing such information and executing such documents as may be required in connection with the preparation and filing of such application for financial assistance and the rules of the Texas Water Development Board. Section 3. The Fort Worth City Manager or his designee be and is hereby authorized to execute and submit to the Texas Water Development Board an application for such financial assistance; and the City Manager, together with the City's Bond Counsel, Financial Advisors, and Consulting Engineers named in such application, are hereby authorized to appear before the Texas Water Development Board in support of such application and project. Section 4. The City Manager is further specifically authorized to make the required assurances to the Texas Water Development Board in accordance with the rules, regulations and policies of the Texas Water Development Board. Section 5. It is hereby found and determined that the City cannot reasonably finance the proposed project without financial assistance in the amount requested, and that the nature of the improvements proposed to be financed necessitate an immediate and urgent consideration of this application. Section 6. A certified copy of this Resolution shall be attached to the application for financial assistance herein authorized to be prepared and submitted to the Texas Water Development Board. Section 7. It is hereby officially found and determined that the meeting at which this Resolution was considered was open to the public, and public notice of the time, place and purpose of said meeting was given, all as required by Chapter 551, Texas Government Code. Adopted this 10 day of May 2024 ATTEST: By. (1 '4r11000aa Jannette S. Goodall, City Secretary pS0 o®�j ¢d '� 0 �0 02: 0 oa04p da�� — X�- Icr