Trust adopts resolution to allow short-term cash financing, to be reimbursed from future bonds

Oklahoma City — The Oklahoma City Water Utilities Trust on July 15 adopted a resolution authorizing the trust to temporarily finance eligible water and wastewater projects with cash and later reimburse those expenditures from future tax-exempt financings. Vanessa Aguilar, a trust staff member, told trustees the resolution "gives ACWET the flexibility for financing projects from a future tax exempt financing, whether it's a revenue bond issuance or ... a bank note program." She said the resolution identifies projects that could be debt-financed in the future, including the trust's capital program for fiscal year 2026–27. Trustees voted to approve the resolution unanimously during the meeting. A trustee asked whether the trust had used this approach before; Aguilar responded that the trust had. The resolution is intended to let the trust proceed with capital work now using available cash and then recoup those expenditures from the appropriate tax-exempt financing when it is completed. Trustees did not identify specific project dollar amounts during the public discussion on this agenda item; the staff presentation attached a list of projects eligible for future financing.