HomeMy WebLinkAboutResolution 4462-06-2015 A Resolution
NO. 4462-06-2015
REQUESTING FINANCIAL ASSISTANCE FROM THE TEXAS WATER DEVELOPMENT
BOARD IN THE AMOUNT OF$76,000,000.00 FROM THE STATE WATER
IMPLEMENTATION FUND FOR TEXAS (SWIFT) FOR THE WATER DEPARTMENT
WHEREAS, the Texas Water Development Board's mission is to provide
leadership, technical services, and financial assistance to support planning, conservation
and responsible development of water for Texas; and
WHEREAS, the 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") may apply to the Texas
Water Development Board for financial assistance in an amount not to exceed
$76,000,000.00 for the planning, design, acquisition, and implementation of full-scale
Advanced Metering Infrastructure including an automated leak detection system; 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:
1.
That the Texas Water Development Board is hereby requested to grant financial
assistance in an amount not to exceed $76,000,000.00 to the City for the planning,
design, acquisition, and implementation of full-scale Advanced Metering Infrastructure.
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2.
That the City Manager 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 Attorney's Office, City's Bond Counsel, Financial
Advisor, and Consulting Engineers named in such application, are hereby authorized to
appear before the Texas Water Development Board in support of such application and
proj ect.
3.
That 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.
4.
That 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.
5.
That 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.
Adopted this 2nd day of June, 2015.
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Mary Kayser, Cit Secretary �� °°oo oQ°°°*ate
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