Ord 59-2014 12/2/2014ORDINANCE NO. _O 59-2014_
Ordinance transferring $319,864 from the Water/Sewer Fund to the
Debt Service Interest and Sinking Fund for the first annual debt
service payment of the Combination Tax and Revenue Certificates of
Obligation, Series 2015 to comply with the guidelines of the Texas
Water Development Board
WHEREAS, the City has received a loan from the Texas Water Development
Board in the amount of $33,545,000 to finance the cost to design and construct the
Indirect Potable Water Reuse Project ; and
WHEREAS, one of the requirements of the TWDB Clean Water State Revolving
Loan Program is to account for the annual debt service payments in a separate Interest
and Sinking Fund; and
WHEREAS, the City accounted for that debt service payment in the W ater and
Sewer Fund in the 2014-15 budget.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
Authorization is granted to transfer $319,864 from the Water/Sewer Fund to the
Debt Service Interest and Si nking Fund for the first annual debt service payment of the
Combination Tax and Revenue Certificates of Obligation, Series 2015 to comply with
the guidelines of the Texas Water Development Board
PASSED AND APPROVED this the 2nd day of December, 2014.
______________________________
M A Y O R
ATTEST:
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City Clerk