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• <br /> THE STATE OF TEXAS § TWDB Commitment No. L1000601 <br /> COUNTY OF TRAVIS § <br /> PRINCIPAL 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 (City) has filed an application with the Texas <br /> Water Development Board (TWDB) for financial assistance in the amount of $1,961,821 <br /> from the Clean Water State Revolving Fund (CWSRF) to finance wastewater system <br /> improvements for the project identified as Project No. 73748; and <br /> WHEREAS, on January 26, 2017, the TWDB determined that the City qualifies for <br /> principal forgiveness as a Disadvantaged Community pursuant to 31 TAC § 375.18, and the <br /> criteria set forth in the 2017 CWSRF Intended Use Plan (IUP), and agreed, pursuant to the <br /> TWDB Resolution, to provide financial assistance in the amount of $1,961,821 to the City <br /> and further agreed that $961,82 twill 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 <br /> Agreement and to administer the Principal Forgiveness Funds provided through this <br /> Agreement in conformance with all applicable state and federal laws and regulations, the <br /> TWDB Resolution, and all terms and conditions set forth herein. <br /> ARTICLE I. DEFINITIONS <br /> The following terms,as used in this Agreement,have the meanings assigned below: <br /> Agreement means this Principal Forgiveness Agreement and the attached exhibits. <br /> CFR means the Code of Federal Regulations. <br /> Commitment means an offer by the TWDB to provide financial assistance to an Applicant as <br /> evidenced by a TWDB resolution. <br /> Construction Account means an account dedicated to the payment of Project costs, as <br /> defined by 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 <br /> TWDB Commitment No.L1000601 <br /> Page 1 of 14 <br />