Laserfiche WebLink
RESOLUTION NO. 2023-208R <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN <br /> MARCOS, TEXAS APPROVING A RESOLUTION BY THE BOARD OF <br /> DIRECTORS OF THE ALLIANCE REGIONAL WATER AUTHORITY <br /> AUTHORIZING THE ISSUANCE OF ALLIANCE REGIONAL WATER <br /> AUTHORITY BOND ANTICIPATION NOTE (REGIONAL WATER <br /> SUPPLY CONTRACT PROJECT), SERIES 2023; RESOLVING OTHER <br /> MATTERS INCIDENT AND RELATING TO THE ISSUANCE,PAYMENT, <br /> SECURITY, SALE AND DELIVERY OF SUCH NOTE; AND DECLARING <br /> AN EFFECTIVE DATE. <br /> WHEREAS, the City of San Marcos, Texas ("the City") is a sponsor of the <br /> Alliance Regional Water Authority("the Authority"); and <br /> WHEREAS, the City has approved and executed the Regional Water Supply <br /> Contract dated as of January 9, 2008 (the "Original Contract") for the financing, <br /> construction, and operation of the Authority's Regional Water Supply Project, as amended <br /> by Amendment No. 1 to the Original Contract effective as of October 31, 2009, and <br /> Amendment No. 2 effective as of December 21, 2023, and as may be further amended <br /> (collectively,the "Contract"); and <br /> WHEREAS, the City has previously requested that the Authority issue a single <br /> bond anticipation note for the benefit of the City (in addition to the benefit of the other <br /> respective sponsors) entitled"Alliance Regional Water Authority Bond Anticipation Note <br /> (Regional Water Supply Contract Project), Series 2023" (the"Note")to finance the City's <br /> additional contribution to the design, construction and equipment of the Phase 113 <br /> Improvements of the Authority's Water Supply Project pursuant to the Contract which <br /> Note is payable from the proceeds of future bonds and/or bond anticipation notes; and <br /> WHEREAS,pursuant to Section 3.1(c)of the Contract,prior to adoption of a Note <br /> Resolution for the City and the other Sponsors,as the case may be by the Authority's Board <br /> of Directors, a substantially final copy of the Note Resolution, as defined herein, for the <br /> City and the other Sponsors, as the case may be and the sale and offering documents, if <br /> any, shall be presented to the City for review and approval; and <br /> WHEREAS, a substantially final copy of the Authority's Bond Resolution, as <br /> defined in the Contract (which may also be referred to as the "Note Resolution"), <br /> authorizing the Note for the City's share of the Phase 1B Improvements of the Authority's <br /> Water Supply Project has been presented to the City for review and approval; and <br /> WHEREAS, the Note is being sold to Wells Fargo Bank, N.A.; Wells Fargo <br /> Municipal Capital Strategies, LLC, a wholly owned subsidiary of Wells Fargo Bank,N.A. <br /> or any other wholly owned subsidiary of Wells Fargo Bank,N.A. and there are no sale and <br /> offering documents, as defined in the Contract to be presented to the City for review and <br /> approval; and <br />