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7 • <br />C7 <br />RESOLUTION REQUESTING APPROVAL <br />OF RELEASE OF FUNDS FROPd ESCROW <br />~' <br />[dHEREAS, the Texas Water Commission (the "Commis- <br />Sion"), by Order dated February 17, 1984 (the "Order"), <br />approved an application for approval of an engineering <br />project and bonds in the amount of $3,350,000 submitted by <br />College View Municipal Utility District (the "District"); <br />and <br />WHEREAS, the Order required, among other things, <br />that the District deposit in escrow the sum of $2,532,OO~O.of <br />the proceeds from the sale of such bonds until the Commission <br />had received and approved plans and specifications for the <br />construction of (a) a 310,000 gallon elevated water storage <br />tank ($356,500), (b) an 18" sanitary sewer main from the <br />District to the City of La Porte's sewage treatment plant <br />($1,543,000) and (c) a 550,000 gpd expansion to the City of <br />La Porte's sewage treatment plant ($632,500, the Order also <br />requiring an amended waste discharge permit for such <br />expansion); and <br />[•IHEREAS, the District subsequently issued and <br />sold, pursuant to and in accordance with the terms of the <br />Order, its Waterworks and Sewer System Combination Tax and <br />Revenue Bonds, Series 1984, dated as of February 15, 1984, <br />in the aggregate principal amount of $3,350,000; and <br />WHEREAS, pursuant to the requirements of the <br />Order, the District placed in escrow with First City National <br />Bank of Houston (the "Bank") the sum of $2,532,000 pursuant <br />to an Escrow Agreement between the Bank and the District <br />dated Diarch 26, 1984 (the "Escro~v Agreement"), providing for <br />such sum to be held in escrocv by the Bank until it received <br />written authorization, approval or other instructions from <br />the Commission to deliver said sum or any part thereof and <br />any interest earned thereon to, or in accordance c•~ith the <br />directions of, the District; and <br /> <br />