Brushy Creek RUA approves Leander financing agreement, pump repair, testing contract increase and procurement resolutions

The Brushy Creek Regional Utility Authority on Wednesday approved several resolutions authorizing financing, construction testing and an emergency pump repair, and accepted the board’s quarterly investment report.

The board voted unanimously to accept the investment report for the quarter ending June 30, 2025; to authorize the president to sign a financing agreement with the city of Leander under the Swift commitment; to award a repair contract to Smith Pump Company for Booster Pump No. 3; to increase the Terracon construction materials testing contract; and to formally designate the authority’s general counsel and assistant general counsel.

Board action and why it matters

The board accepted the quarterly investment report presented by Otis Williams, chief financial officer for the city of Leander. Williams told the board the portfolio’s weighted average yield was about 3.5% and that the portfolio’s effective duration was 0.06 years. He reported the portfolio market value decreased from about $166,000,000 to $164,000,000 during the quarter and that total investment earnings for the quarter were about $1,400,000. "The portfolio's effective duration is 0.06 years," Williams said during his presentation.

On the Swift financing, the board authorized the president to execute a financing agreement that is the first bond take-down by Leander under a Swift commitment the transcript says was approved by the Dexter…