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07 - Wastewater Treatment Plant - Application for Funding Improvements
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07 - Wastewater Treatment Plant - Application for Funding Improvements
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Item No. 7 <br />t <br />TO: Mayor & City Council <br />Grayson Path, City Manager <br />FROM: Doug Harris, Director of Utilities <br />SUBJECT: TEXAS WATER DEVELOPMENT BOARD FUNDING APPLICATION <br />RESOLUTION FOR THE WASTEWATER TREATMENT PLANT <br />REHABILITATION PROJECT <br />DATE: November 9, 2020 <br />At the July 27, 2020 meeting, City Council unanimously approved moving forward with an <br />agreement for professional engineering services with Garver USA for Phase 2 of comprehensive <br />rehabilitation of the City of Paris Wastewater Treatment Facility, contingent upon securing long <br />term financing of the project. <br />STATUS OF ISSUE: <br />Garver USA is preparing the project funding application with the Texas Water Development <br />Board. A requirement of the funding application is a City Council resolution requesting financial <br />assistance from the Texas Water Development Board and authorizing the filing of an application <br />for assistance. The TWDB Application Filing and Authorized Representative Resolution is <br />attached. <br />The Texas Water Development Board held a pre -application meeting via teleconference on <br />Wednesday, October 28, 2020. Joe Koen, TWDB Northeast Texas Team Leader, conducted the <br />meeting, with participation of City and Garver USA staff. Mr. Koen advised including <br />engineering, construction, loan origination, financial advisor and bond counsel fees in the financial <br />application resolution. The not to exceed amount of $75,000,000.00 is not a firm loan <br />commitment, TWDB recommends applying for a higher amount of funding initially, adjusting the <br />amount down through the application process, with the final loan amount being only what is <br />necessary to complete the project. <br />
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