20-DELIBERATE/ACT ON RES AUTHORIZING SUBMISSION OF APPLICATION TO APPLY FOR LOAN TO TX WATER DEVELOPMENT BOARD'S DRINKING WATER STATE REVOLVING FUND FOR PROJECT #9424CITY COUNCIL AGENDA ITEM BRIEFING SHEET
Submittal Date:
Originating Department:
Presented By:
Agenda Item No.:
5-17-2012
Engineering, Planning &
Shawn Napier, P.E. Director of
Council Date:
Development
Engineering, Planning &
20.
5-31-2012
Development
RECOMMENDED MOTION:
Deliberate and act on a resolution authorizing the submission of an application to apply for a loan to the
Texas Water Development Board's Drinking Water State Revolving Fund for project #9424.
PoLicY IssuE(s):
Contract
BACKGROUND:
The City of Paris has submitted preliininary applications to the Texas Water Development Board for a
Drinking Water State Revolving Fund loan in the amount of approxiinately $3.4-million dollars. The
loan will be used to fund 15 water line replaceinent projects fram the City's Capital Improvement
Project list (see attached inap). The formal application is due before June 25"'. The project has been
qualified as a green project. The green project status qualifies the City far approxiinately ] 5%
($510,317.00) loan forgiveness. This reduces the loan ainount to $2,895,000.00. The current interest
rate is approximately 2.1
At the City Council meeting on May 14"' the City Council approved agreements with The following
coinpanies as required by the Texas Water Developinent Board: Bond Council - McCall, Parkhurst &
Horton L.L.P., Financial Advisor - Southwest Securities and Engineering Firm - Hayter Engineering.
BOARD/COMMISSION RECOMMENDATION:
EXHIBITS:
Resolution, Application Filing
ACTION:
BUDGET INFO:
❑ Financial Report ❑ Minute Order
Expense
$0.00
❑ Department Report E Resolution
Budgeted Amt.
$0.00
❑ Presentation ❑ Ordinance
y'I'D Actual
$0.00
❑ Public Hearing ❑ Other
Acct. Name
Acct. Number
FiscAL NoTES:
REVIEWED AND APPROVED BY:
EAdministration SCity Clerk Z Eng., Planning & Development ❑ EMS/IT ❑ Finance ❑ Fire
❑ Municipal Court ❑ Legal ❑ Library ❑ Police ❑ Public Works ❑ Utilities
Citv of Paris
Revised 2/04/08
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Draft
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS,
AUTHORIZING APPLICATION FOR FINANCIAL ASSISTANCE FROM THE
TEXAS WATER DEVELOPMENT BOARD; AND MAKING CERTAIN
FINDINGS IN CONNECTION THEREWITH; AND DECLARING AN
EFFECTIVE DATE.
WHEREAS, the City of Paris, Texas (the "City") hereby finds and determines that
there is an urgent need for the construction of improvements to the City's water system;
and,
WHEREAS, such capital improvements cannot be reasonably financed unless
financial assistance is obtained from the Texas Water Development Board; and,
WHEREAS, it is hereby officially found and determined; that public notice of the
time, place, and purpose of said meeting was given, all as required by Texas Government
Code, Chapter 551.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PARIS, TEXAS:
Section 1. That the findings set out in the preamble of this resolution are hereby
in all things approved.
Section 2. 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
$3,405,317.00 to provide funds for water line replacement for the City's water distribution
system.
RESOLUTION N0.
Section 3. That the following firms and individuals are hereby authorized and
directed to aid and assist in the preparation and submission of such application and appear
on behalf of and represent the City before any hearing held by the Texas Water
Development Board on such application, to-wit:
Financial Advisor
Bond Counsel
Engineer
Dan Almon
Southwest Securities, Inc.
1201 Elm St., Ste. 3500
Dallas, Texas 75270
Phone: (214)859-9452
Fax: (214)859-9475
Email: datmonftswst.com
Dan Culver
McCall, Parkhurst & Horton L.L.P
717 N. Harwood, 9lh Floor
Dallas, Texas 75201-6587
Phone: (214)754-9575
Fax: (214)754-9250
Email: dculverPmphtegal.com
Tom Pruitt, P.E.
Hayter Engineering, Inc.
4445 SE Loop 286
Paris, Texas 75460
Phone: (903)785-0303
Fax: (903)785-0308
Email: tpruitt@haytereng.com
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Section 4. That this resolution shall be effective from and after the date of
passage.
PASSED AND APPROVED this 31st day of May, 2012.
A.J. Hashmi, M.D., Mayor
ATTEST:
Janice Ellis, City Clerk
APPROVED AS TO FORM:
W. Kent McIlyar, City Attorney
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