R-1121-8-92RESOLUTION NO. 1121-8-92(R)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ALLEN, COLLIN
COUNTY, TEXAS, REQUESTING THE WITHDRAWAL OF THE CITY'S
APPLICATION FOR FINANCIAL ASSISTANCE FROM THE TEXAS WATER
DEVELOPMENT BOARD AND CANCELLATION OF SUCH BOARD'S LOAN
COMMITMENT.
WHEREAS, The City Council has heretofore filed an application with the Texas Water
Development Board ( the "Board") for financial assistance ( the "Application") for the
construction of improvements and extensions to the City's Waterworks and Sewer System
(the "Project") and on or about July 16, 1992, received a loan commitment from the
Board in the amount of $1,405,000; the sources for the funding of such loans being as
follows: $1,080, 000 from the Water Supply Account of the Water Development Board and
$325,000 from the Water Supply Account of the Water Development Board and $325,000
from the State Water Pollution Control Revolving Fund; and,
WHEREAS, In combination with the issuance of refunding bonds, the City has been able
to provide financing for the Project from other sources at essentially the same or at a
lesser cost than the City would have incurred had it proceeded with the Boards' loan
commitment;
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ALLEN,
COLLIN COUNTY, TEXAS THAT: The Application for financial assistance filed with the
Texas Water Development Board shall be and is hereby requested to be withdrawn and
the loan commitment from the Board granted on or about July 16, 1992, is hereby
requested to be cancelled, and the City Secretary is authorized and directed to file a
copy of this resolution with the Texas Water Development Board so as to give
notification of the City's decision.
DULY PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF ALLEN,
COLLIN COUNTY, TEXAS, ON THIS THE 20TH DAY OF AUGUST, 1992.
APPROVED
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Joe Farmer, MAYOR
ATTEST:
Judiy Mo on, CITY SECRETARY