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THE STATE OF TEXAS § TWDB Commitment No. L1000600 <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 $5,445,839 <br />from the Clean Water State Revolving Fund (CWSRF) to finance construction of wastewater <br />system improvements for the project identified as Project No. 73696; and <br />WHEREAS, on January 26, 2017, the TWDB determined that the City qualifies for <br />principal forgiveness because it meets Green Project requirements pursuant to 31 TAC § <br />375.18, and the criteria set forth in the 2017 CWSRF Intended Use Plan (IUP), and agreed, <br />pursuant to the TWDB Resolution, to provide financial assistance in the amount of <br />$5,445,839 to the City and further agreed that $685,839 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 <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. L1000600 <br />Page 1 of 14 <br />