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Holly Hills board directs W2 Engineering to pursue public financing for capital projects
Summary
At its April 16 meeting the Holly Hills Water and Sanitation District Board unanimously directed W2 Engineering to pursue a public financing option for capital projects and authorized counsel to draft an agreement to proceed, following a presentation of financing alternatives.
The Holly Hills Water and Sanitation District Board on April 16 unanimously directed W2 Engineering to pursue a public financing option to complete the district's capital projects and authorized the district attorney to draft an agreement to proceed.
Alan Matlosz of Stifel Nicolaus presented a set of financing alternatives to the Board and answered questions from directors and consultants about the details of the options. After discussion, Director Thomas Thomasson moved that W2 Engineering pursue the public financing option; Director Scott Kemmeries seconded the motion and the Board carried it unanimously.
The Board then authorized Ireland Stapleton Pryor & Pascoe to draft an agreement with W2 Engineering to move forward through the selected public financing path. The motion to authorize counsel was moved by Director Thomasson, seconded by Director Kemmeries and approved unanimously.
The Board did not set detailed financing terms at the meeting. District staff and consultants will work through contract language and next steps under the authorization granted; the Board expects an update at a future meeting once proposed agreements and financing terms are developed.
