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Bandera council approves TWDB principal-forgiveness agreement and authorizes $3 million certificates for wastewater project
Summary
The council approved a principal-forgiveness agreement with the Texas Water Development Board totaling $1.4 million in grant funds and authorized issuance of $3 million in certificates of obligation to fund wastewater system improvements; a $2 million 0% loan also forms part of the financing plan.
The Bandera City Council approved a principal-forgiveness agreement with the Texas Water Development Board that provides $1,400,000 in principal forgiveness and a related $2,000,000 0% interest loan to support planning and acquisition phases of a wastewater treatment project.
Ben Rosenberg, the city's financial adviser, told the council the project was structured to maximize grant funding by splitting work into planning, acquisition and design first and postponing construction to a later application cycle. Rosenberg said…
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