HomeMy WebLinkAboutResolution 6094-05-2025A Resolution
NO. 6094-05-2025
REQUESTING FINANCIAL ASSISTANCE FROM THE TEXAS WATER
DEVELOPMENT BOARD IN THE AMOUNT OF $180,000,000.00 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 ("SWIFT") 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") previously applied for and
was granted financial assistance by the Texas Water Development Board in the form of a
loan in an amount not to exceed $125,000,000.00 for the Eagle Mountain Expansion Project
(Resolution 5950-05-2024; M&C 24-0872); and
WHEREAS, the City of Fort Worth, Texas (the "City") deems it necessary to apply
to the Texas Water Development Board for additional financial assistance in an amount not
to exceed $180,000,000.00 for the Eagle Mountain 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
$180,000,000.00 for the Eagle Mountain Expansion Project, and the Texas Water
Development Board is hereby requested to grant such financial assistance.
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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 13''day ofMay2025.
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