Title
Consider a resolution expressing official intent to reimburse certain expenditures for the Brushy Creek Regional Utility Authority (BCRUA) regional water treatment plant project.
Body
This resolution allows for costs related to construction for Phase 2A of the BCRUA regional water treatment plant (WTP) expansion project.
This resolution will allow the project to move forward using existing cash and then reimburse the funds once BCRUA issues its contract revenue bonds on behalf of the City.
This resolution is for up to $23.6 million consisting of the following:
• Future Utility System Revenue Bonds to fund the Phase 2A project expanding the regional WTP from 41.9 MGD to 64.2 MGD. The expansion will provide additional treatment capacity for the cities of Leander and Round Rock.
This resolution is required to meet IRS rules and regulations regarding the use of tax-exempt funds.
Staff recommends approval