Ord 1986-085 - Laserfiche WebLink

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-7- Se c t i on 2.. Bonding package. A. Water, Wastewater and Drainage A Util ity District shall be permitted the bond i n9 permi Hed under the State law and the rules of the Texas Water Development Board for 1) construction and for 2) land and easement costs for water, sewer, and drainage improvements. Further. the Þ30% rule" instituted by the Texas Water Commission sh a 11 apply in determining the bond i n9 allowed for Water, Wastewater and Drainage. Add i t i on a 11 y, that oversize port i on of a water or wastewater approach main which the Ci ty of San Marcos has required to be constructed to serve areas ou ts i de of the boundaries of the Utility District may be financed wi th bonds. In such cases, the Ci ty shall repay the Util ity District annually for the City's pro rata share of the debt retirement cost of such facil ity. The City shall re ta in the I" i ght to allocate its pro rata share of the facility and collect subsequent users fees as defined in the Subdivision Ordinance of the City of San Marcos. Provided, however, that the following items shall not be allowed to be financed by the issuance of bonds, and therefore, shall not be included in the bonding package: 1. land or easements wi th i n the Util ity District, or any property owned by the developers of the Utility District, dedicated for any water or wastewater 1 i ne or hc i 1 i ty, incJudinQ treatment p]a.n ts for any function related to drainage. Provided, however, that bonds may be authorized for the purchase of land for irrigation purposes connected with a package treatment plan t. Provided further that irrigation land purchased from the developers of the Utility District must be purchased at the Central Appraisal District valuation. 2. Curbs, gu Hers, inlets, culverts, and bridges. 3. Drainage improvement, except storm sewers and regional facilities. B. Intangibles 1. A contingency factor of 10% shall be allowed on all water, wastewater and drainage costs. 2. Construction costs shall include 10% for engineering, and shall include all fees. 3. Interest during construction and cap i tal i :zed interest shall be allowed to the full extent of the State law for all costs that qualify for bond financing. 4. Other non-construction costs allowed for bond financing are: fiscal agent fees, legal fees and administration organizational expense and printing the bonds, as allowed by State 1 aw. C. Bonded Amenities Additional bonding authority may be used as the City Council specifies for any of the foll~ting items. The Ci ty Counc i 1 must approve the need for each item, the site location and design. The aggregate of the Ci ty requ i rements shall be 1 imi ted by the economic viabil ity of the Util ity District. Bonded authority for any land under this section shall be based on raw land cost and carrying expenses. 1. Solid waste disposal sites. 2. Fire station sites.