Res 2017-084/approving a principal forgiveness agreement with the Texas Water Development Board that forgives an amount not to exceed $961,821 out of $1,961,821 in principal funds to the city from the Clean Water State Revolving Fund to finance the planni

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• • A RESOLUTION OF THE TEXAS WATER DEVELOPMENT BOARD APPROVING AN APPLICATION FOR FINANCIAL ASSISTANCE IN THE AMOUNT OF $1,961,821 TO THE CITY OF SAN MARCOS FROM THE CLEAN WATER STATE REVOLVING FUND THROUGH THE PROPOSED PURCHASE OF $1,000,000 CITY OF SAN MARCOS,TEXAS WATER AND WASTEWATER SYSTEM REVENUE BONDS, PROPOSED SERIES 2017B AND $961,821 IN PRINCIPAL FORGIVENESS (17-011) WHEREAS, the City of San Marcos (City) has filed an application for financial assistance in the amount of$1,961,821 from the Clean Water State Revolving Fund (CWSRF)to finance the planning, acquisition, and design of certain wastewater system improvements identified as a flood mitigation project in Project No. 73748; and WHEREAS, the City seeks financial assistance from the Texas Water Development Board (TWDB) through the TWDB's proposed purchase of $1,000,000 City of San Marcos, Texas Water and Wastewater System Revenue Bonds, Proposed Series 2017B (together with all authorizing documents, (Obligations)), and the execution of a Principal Forgiveness Agreement ^, in an amount of $961,821, all as is more specifically set forth in the application and in recommendations of the TWDB's staff; and WHEREAS, the City has offered a pledge of net revenues of the City's water and wastewater system as sufficient security for the repayment of the Obligations; and WHEREAS, the commitment is approved for funding under the TWDB's pre-design funding option, and initial and future releases of funds are subject to 31 TAC § 375.14; and WHEREAS,the TWDB hereby finds: 1. that the revenue pledged by the City will be sufficient to meet all the Obligations assumed by the City, in accordance with Texas Water Code § 15.607; 2. that the application and assistance applied for meet the requirements of the Federal Water Pollution Control Act, 33 U.S.C. §§ 1251 et seq., as well as state law, in accordance with Texas Water Code § 15.607; 3. that the City has adopted and implemented a water conservation program for the more efficient use of water that will meet reasonably anticipated local needs and conditions and that incorporates practices, techniques or technology prescribed by the Texas Water Code — and TWDB's rules; and 4. that the City meets the definition of"Disadvantaged Community" in 31 TAC § 375.1(23) and is therefore eligible for principal forgiveness through the CWSRF. TWDB Commitment No.L1000601 Exhibit A,Page 2 of 10