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RESOLUTION NO.
<br /> A RESOLUTION BY THE BOARD OF DIRECTORS OF THE ALLIANCE REGIONAL
<br /> WATER AUTHORITY AUTHORIZING THE ISSUANCE OF ALLIANCE REGIONAL
<br /> WATER AUTHORITY BOND ANTICIPATION NOTE (REGIONAL WATER SUPPLY
<br /> CONTRACT PROJECT), SERIES 2023; AND RESOLVING OTHER MATTERS
<br /> INCIDENT AND RELATING TO THE ISSUANCE,PAYMENT, SECURITY, SALE,
<br /> AND DELIVERY OF SUCH NOTE
<br /> WHEREAS, pursuant to Chapter 572, as amended, Texas Local Government Code, the
<br /> Hays Caldwell Public Utility Agency (the "Agency") as a constituted authority and
<br /> instrumentality and political subdivision of the State of Texas (the "State," was created by the
<br /> Cities of Buda ("Buda"), Kyle ("Kyle") and San Marcos, Texas ("San Marcos"), each Texas
<br /> home rule municipalities, and the Canyon Regional Water Authority ("Canyon Regional"), a
<br /> conservation and reclamation district and political subdivision of the State created and existing
<br /> pursuant to Article XVI, Section 59 of the Texas Constitution and Chapter 670, Acts of the 71St
<br /> Legislature, Regular Session, 1989, as amended (collectively, the "Sponsors" or singularly, a
<br /> "Sponsor"); and
<br /> WHEREAS, the Agency and the Sponsors have entered into a "Regional Water Supply
<br /> Contract" dated as of January 9, 2008, as amended by Amendment No. 1 and Amendment No. 2
<br /> and as may be further amended (collectively, the "Contract") pursuant to which the Agency has
<br /> agreed to design, finance, construct, own, acquire, maintain and operate a water supply project in
<br /> a manner that will allow the Agency to deliver water to the Sponsors on a regional basis and
<br /> under which each of the Sponsors agree to pay their share of the project costs and to make
<br /> payments to or on behalf of the Agency in amounts sufficient to meet all of the Agency's
<br /> obligations under the Contract including those relating to a Sponsor's bonds (or a Sponsor's pro
<br /> rata share of bond anticipation notes issued as a single series) issued to finance and refinance a
<br /> Sponsor's share of the Project Costs and to own, operate and maintain the Project; and
<br /> WHEREAS, on June 15, 2017, by special act of the 85th Legislature, SB 1198, codified
<br /> as Chapter 11010, Special District Local Laws Code (the "Act"), the Agency was converted to
<br /> the Alliance Regional Water Authority (the "Authority"), a conservation and reclamation district
<br /> to accomplish the purposes set forth in the Act and of Article XVI, Section 59, Texas
<br /> Constitution; and
<br /> WHEREAS, by operation of the law pursuant to the Act, the Authority assumed all
<br /> assets, liabilities, bonds, notes and other obligations of the Agency including all obligations
<br /> pursuant to the Outstanding Bonds and the Contract; and
<br /> WHEREAS, at the request of Canyon Regional and Kyle, the Agency issued two series
<br /> of bonds on November 19, 2015 for such Sponsors share of the Phase IA Project entitled:
<br /> $3,960,000 Hays Caldwell Public Utility Agency Contract Revenue Bonds (Regional Water
<br /> Supply Contract Project — Canyon Regional Water Authority), Series 2015A and $3,530,000
<br /> Hays Caldwell Public Utility Agency Contract Revenue Bonds (Regional Water Supply Contract
<br /> Project—City of Kyle, Texas), Series 2015B (collectively,the"Outstanding Bonds"); and
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