The Lake Agassiz Water Authority on June (meeting) voted to concur in submitting a cost‑share packet to the State Water Commission and discussed a proposed Series F interim financing agreement to cover local cost share for the 2025–27 biennium.

The packet submission vote "proceed with this and basically be signing people after that," the Board was told by staff (presentation), and the motion to approve the resolution to transmit the application to the State Water Commission passed on a roll call vote.

Why it matters: the packet ties into multi‑biennium state and local funding for the Red River Valley Water Supply Project. Board members pressed staff and counsel for clarity about what the Board would be committing to by concurring with the submission. Legal counsel and staff said the resolution is to "concurring in the submission of the packet to the State Water Commission" and is not the same as signing final loan or guarantee documents; financing documents would follow if the local entities choose to finalize loans.

Board members discussed the size and structure of the local financing. Staff reported past approvals and balances for earlier series: the Series C set had $84,000,000 approved with about $9,200,000 remaining, and Series D had $180,000,000 approved with about $106,000,000 remaining; a Bank of North Dakota Series D loan showed $60,000,000 with $35,000,000 remaining. For Series F staff said the legislature approved the state cost share for the 2025–27 biennium and that a local cost share amount would be financed through a Bank of North Dakota Water Infrastructure Revolving Loan Fund model similar to Series D. The Board was told Series F draft terms mirror Series D: two‑year deferment, three years interest‑only, then amortization under the bank terms described.

Board members asked whether signing the resolution would "lock in" a dollar commitment. Legal counsel advised the resolution simply authorizes submission of the packet and is not itself the final loan document or guarantee. Counsel said later financing or loan documents would carry the formal commitments; if a member entity ultimately does not sign a financing series, its allocation would be redistributed among signers unless the Board instead chose to limit billed amounts to participants who had signed by a deadline.

Less critical detail: staff said the application to the State Water Commission was due on the Monday following the meeting, and the Garrison Diversion board had already approved its resolution. The Board carried the motion to send the packet to the State Water Commission.