Title
Consider a resolution approving and authorizing the BCRUA to execute a Financing Agreement with the Texas Water Development Board.
Body
Consider a resolution approving and authorizing the BCRUA to execute a Financing Agreement with the Texas Water Development Board for $31,500,000.
This agreement is for the 2nd of three phases of financing from the TWDB on these projects.
The Brushy Creek Regional Utility Authority (BCRUA) has two large projects underway. The City of Round Rock’s share of those costs is the $90.45 million to be financed.
• The Phase 2 Deep Water Intake project is a permanent raw water intake on Lake Travis which will replace the floating intake that was constructed with Phase 1. The project is scheduled to be complete in 2027. The deepwater intake will have an ultimate capacity of 144.7 million gallons per day (MGD) and will provide a reliable supply of water through the full buildout of BCRUA.
• The Phase 1D water treatment plant expansion will increase capacity at the plant from 32.5 mgd to 42 mgd. This project is scheduled to be complete in late 2024.
In April 2023, the City Council authorized the BCRUA to submit an application to the Texas Water Development Board (TWDB) for funding through the State Water Implementation Fund for Texas (SWIFT). The program will provide discounted interest to finance the City of Round Rock’s portion of the projects.
The Texas Water Development Board (TWDB) formally approved the loan for Phase 1D and Phase 2 construction on July 25th. This loan is the second of three phases the BCRUA will access on behalf of Round Rock. The BCRUA is scheduled to take action on this agreement on August 28, 2024.
November 2023 $41,750,000
November 2024 31,500,000
November 2026 17,200,000
Total $90,450,000
TWDB will sell the underlying bonds in September or early October. The City will be asked to approve the final rates and agreement at its October 24, 2024 meeting.