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Kyle approves delegation for regional water financing after capping max rate at 3.99%
Summary
Council authorized the city's participation in Alliance Regional Water Authority financing for an expanded water-treatment program and delegated final pricing authority after amending a maximum interest-rate cap to 3.99%; Kyle's share of the requested SWIFT funding was presented as $38.875 million.
Council members on Oct. 15 voted to authorize the Alliance Regional Water Authority (ARWA) to issue contract revenue bonds for a regional water-treatment expansion and to delegate final pricing authority to the mayor, city manager and staff, with a council-imposed cap on the maximum interest rate.
Grama Moore, executive director of ARWA, outlined a two-part financing request: refinance a bond anticipation…
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