Laserfiche WebLink
Parties or Party means the TWDB and the City and their authorized successors and assignees. <br />Project means the project for which the TWDB is providing financial assistance under this <br />Agreement and as further described in the TWDB Resolution and identified as Project No. <br />73696. <br />State means the State of Texas. <br />TAC means the Texas Administrative Code. <br />TWDB means the Texas Water Development Board. <br />TWDB Resolution means TWDB Resolution No. 14 -101, dated November 6, 2014, approving <br />the application for financial assistance filed by the City and authorizing the execution of this <br />Agreement. <br />ARTICLE II. AUTHORITY AND RECITALS <br />2.01. AUTHORITY. This Agreement is authorized and required by the Federal Water <br />Pollution Control Act, 33 U.S.C. §§ 1251 et seq., and is also governed by the terms of the NP; <br />Texas Water Code, Chapter 6; Texas Water Code; Chapter 15, §§ 15.601 — 15.618; 31 TAC <br />Chapter 375; and the TWDB Resolution. <br />2.02. RECITALS. The Parties agree that the following representations are true and correct and <br />form the basis of this Agreement. <br />A. The TWDB may provide financial assistance in the form of a subsidy, such as loan <br />forgiveness, for all or a portion of the Project costs in an amount which the TWDB has <br />determined to be eligible. <br />B. On November 6, 2014, the TWDB considered an Application filed by the City for <br />financial assistance from the CWSRF program. Based on the representations made by the <br />City in that Application, the TWDB adopted the TWDB Resolution in which the TWDB: <br />determined that the City qualifies for loan forgiveness and is eligible for financial <br />assistance; and <br />2. made a commitment to provide financial assistance in the form of a loan in an <br />amount not to exceed $811,915 for the planning and design of the Project and to <br />provide a subsidy in the form of loan forgiveness to the City in an amount not to <br />exceed $401,915 as Loan Forgiveness Funds without the expectation of <br />repayment. <br />C. The TWDB and the City enter this Agreement to memorialize and set forth the terms and <br />conditions for the Loan Forgiveness Funds in an amount not to exceed $401,915. The <br />Executive Administrator is authorized to execute this Agreement on behalf of the TWDB <br />TWDB Contract No.LF1000351 <br />Page 5 of 15 <br />OGC -001 11/06!2014 <br />