Laserfiche WebLink
THE STATE OF TEXAS § TWDB Contract No. LF1000351 <br />COUNTY OF TRAVIS § <br />LOAN FORGIVENESS AGREEMENT <br />BETWEEN THE <br />TEXAS WATER DEVELOPMENT BOARD <br />AND THE <br />CITY OF SAN MARCOS <br />WHEREAS, the City of San Marcos, located in Hays County, Texas (City) has filed an <br />application with the Texas Water Development Board (TWDB) for a loan in the amount of <br />$811,915 from the Clean Water State Revolving Fund (CWSRF) to finance wastewater system <br />improvements for the project identified as Project No. 73696; and <br />WHEREAS, on November 6, 2014, the TWDB determined that the City qualifies for a <br />subsidy as a Disadvantaged Community pursuant to 31 Texas Administrative Code (TAC) § <br />375.18 and the criteria set forth in the 2014 CWSRF Intended Use Plan (IUP), and agreed, <br />pursuant to the TWDB Resolution, to provide a loan in the amount of $811,915 to the City and <br />further agreed that $401,915 will be forgiven; and <br />WHEREAS, the TWDB and the City are the Parties to this Agreement. <br />NOW, THEREFORE, the Parties mutually agree to adhere to the terms of this Agreement <br />and to administer the Loan Forgiveness Funds provided through this Agreement in conformance <br />with all applicable state and federal laws and regulations, the TWDB Resolution, and all terms <br />and conditions set forth herein. <br />ARTICLE I. DEFINITIONc <br />The following terms, as used in this Agreement, have the meanings assigned below: <br />Agreement means this Loan Forgiveness Agreement and the attached exhibits <br />CFR means the Code of Federal Regulations. <br />Construction Account means an account dedicated to the payment of Project costs, as defined by <br />31 TAC § 375.1(16) and required by the TWDB Resolution. <br />CWSRF means the Clean Water State Revolving Fund, a program of financial assistance <br />administered by the TWDB for wastewater projects pursuant to the Federal Water Pollution <br />Control Act, 33 U.S.C.A. §§ 1251 et seq.; applicable federal regulations; Texas Water Code, <br />Chapter 15, §§ 15.601 — 15.618; and 31 TAC Chapter 375. <br />TWDB Contract No.LF1000351 <br />Page 3 of 15 <br />OGC -001 1 1/06/2014 <br />