HomeMy WebLinkAboutResolution 6173-09-2025A Resolution
NO. 6173-09-2025
AUTHORIZING EXECUTION OF A PRINCIPAL FORGIVENESS AGREEMENT
WITH THE TEXAS WATER DEVELOPMNT BOARD IN A CUMULATIVE
AMOUNT OF $6,765,306 TO PARTIALLY FUND THE LEAD SERVICE LINE
REPLACEMENT PROJECT AND NAMING REGINALD E. ZENO AS THE CITY' S
DESIGNATED REPRESENTATIVE WITH RESPECT TO SUCH AGREEMENT
WHEREAS, the Fort Worth Water Department has made concerted efforts over
many years to remove all vestiges of lead piping and lead -contaminated materials from
its water supply system; and
WHEREAS, certain existing customer -side lines were previously downstream of
cast iron piping and are reasonably suspected to contain contaminants including lead;
and
WHEREAS, removal of such lines will benefit the entire water supply system by
eliminating potential contaminants that could backflow into the system in low-pressure
situations; and
WHEREAS, the Fort Worth Water Department is undertaking a project to remove
and replace such lines (the Project), with the total cost of the Project estimated to be
$13,265,306.00; and
WHEREAS, under the auspices of its Drinking Water State Revolving Fund, the
Texas Water Development Board has made a commitment to provide financial assistance
to the City for the Project in the form of (i) a principal forgiveness agreement in the
amount of $6,765,306.00 and (ii) purchase of $6,500,000.00 in City -issued debt at less -
than -market interest rates (collectively, TWDB Project Number 63050).
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF FORT WORTH, TEXAS, THAT:
SECTION 1. Designation of Authorized Representative. Reginald E. Zeno is
hereby named the City's Designated Representative to execute such agreement.
SECTION 1. Approval of Agreements. The agreements setting out the terms and
conditions of the financial assistance between the Texas Water Development Board and
the City of Fort Worth, including the principal forgiveness agreement and related escrow
agreement, are hereby approved, and the City's Designated Representative is authorized
to execute the agreements on behalf of the City.
SECTION 2. Effective Date. This Resolution shall become effective
immediately after its adoption.
Adopted this 30th day of September 2025.
ATTEST:
By:
Jannette S. Goodall, City Secretary
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