| Agenda Item: | 14.
| | Agenda Title: | Discuss and consider action on the approval of an Order ratifying the West Travis County Public Utility Agency regional water and wastewater systems rates, fees and charges for water and wastewater service and authorize the Mayor to execute the general and closing certificate for the City of Bee Cave in conjunction with the WTCPUA Revenue Refunding Bonds, Series 2017 dated December 28, 2017.
| Council Action:
| Discuss and Consider Action
| | Department: | Administration
| | Staff Contact: | Administration
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1. INTRODUCTION/PURPOSE
The purpose of this agenda item is for the City Council to discuss and consider action on the approval of an Order ratifying the West Travis County Public Utility Agency regional water and wastewater systems rates, fees and charges for water and wastewater service and authorize the Mayor to execute the general and closing certificate for the City of Bee Cave in conjunction with the WTCPUA Revenue Refunding Bonds, Series 2017 dated December 28, 2017.
2. DESCRIPTION/JUSTIFICATION
a) Background
The West Travis County Public Utility Agency was created via an Acquisition, Water Supply, Wastewater Treatment and Conditional Purchase Agreement (Participation Agreement) in March, 2012.
b) Issues and Analysis
Because of the West Travis County PUA’s agency structure under Chapter 572 of the Texas Local Government Code, the Attorney General’s Office has indicated that the participating entities should take action to ratify rates set by the PUA. The PUA is, therefore, requesting the City Council’s ratification of its rates to meet this requirement. In addition, the PUA is issuing the bonds for debt service savings. As a participant in the PUA, the City is being asked to authorize the Mayor to execute the related general and closing certificate of the City in preparation for the bond transaction closing.
3. FINANCIAL/BUDGET
| Amount Requested | | | Fund/Account No. | | | Cert. Obligation | | | GO Funds | | | Other source | | | Grant title
| | | Addtl tracking info | |
4. TIMELINE CONSIDERATIONS
This action must be considered prior to the end of calendar year 2017.
5. RECOMMENDATION
Approval authorizing the Mayor to execute the related general and closing certificate of the City in preparation for the bond transaction closing.
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