HomeMy WebLinkAboutTexas Water Commission for Approval Project and Bonds
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LA PORTE AREA WATER AUTHORITY
Certificate for Resolution Authorizing
Application to the Texas Water Commission
for Approval of Project and Bonds
I, the undersigned, Secretary of the Board of
Directors of La Porte Area Water Authority (the "Author-
ity"), hereby certify as follows:
1. The Board of Directors of the Authority (the
"Board") convened in special session, open to the public
and duly noticed in accordance with Art. 6252-17,
V.A.T.C.S., as amended, at its regular meeting place
inside the Authority on April 12, 1988, and all of the
duly constituted officers and members of the Board, to-
wit:
Jerry Bramlett
Rick Matthews
Claude Graves
Mike Wadsworth
President
Vice President
Secretary
Director
were present, constituting a quorum.
2. Among other business transacted at such
meeting, a written
RESOLUTION AUTHORIZING APPLICATION
TO THE TEXAS WATER COMMISSION
FOR APPROVAL OF PROJECT AND BONDS
(the "Resolution") was duly introduced for the con-
sideration of the Board. It was then duly moved and
seconded that the Resolution be adopted; and, after
discussion, said motion, carrying with it the adoption
of the Resolution, prevailed by the following votes.
AYES: All Present
NOES: None
3. A true, full and correct copy of the Resolu-
tion adopted at such meeting as the same appears of
record in the official minutes thereof on file in the
offices of the Authority is attached to and follows this
Certificate; and the above and foregoing is a true, full
and correct excerpt form the minutes of said meeting
relating to the adoption of the Resolution.
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4. The persons named in the first numbered
paragraph of this Certificate were, on the date of said
meeting, the duly chosen, qualified and acting officers
and members of the Board, and each was duly and suffi-
ciently notified in advance of the time, place and
purpose of such meeting.
WITNESS MY HAND
AUTHORITY this the 12th
AND THE OFFICIAL SEAL OF THE
day of April, 1988.
s~ti~r~
La Porte Area Water Authority
[SEAL]:
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RESOLUTION AUTHORIZING APPLICATION TO THE
TEXAS WATER COMMISSION
FOR APPROVAL OF PROJECT AND BONDS
WHEREAS, La Porte Area Water Authority (the "Au-
thority") is in the process of purchasing an undivided
interest in the Southeast Water Purification Plant (the
"Southeast Plant") under construction by the City of Houston
and is planning the construction of a transmission system
(the "Transmission System") and a distribution system (the
"Distribution System") to transport water from the Southeast
Plant to the customers of the Authority; and
WHEREAS, the Board of Directors of the Authority
desires to issue bonds to pay for its undivided interest in
the Southeast Plant and additional bonds to pay the costs of
acquisition and construction of the Transmission System and
the Distribution System; and
WHEREAS, pursuant to Section 54.516, Texas Water
Code, as amended, the Authority is required, when it desires
to issue bonds, to submit in writing to the Texas Water
Commission an application for the investigation of the pro-
ject proposed to be purchased or constructed and'of the
Authority's bonds proposed to be issued, together with a
copy of the engineer's report and a copy of the data, plats,
profiles, maps, plans and specifications prepared in connec-
tion with such project; and
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WHEREAS, the Board of Directors of the Authority
desires to secure the approval and consent of the Texas Water
Commission to (i) the construction of the Southeast Plant
and the purchase by the Authority of an interest therein,
(ii) the acquisition and construction of the Transmission
System and the Distribution System and (iii) the issuance of
said bonds to provide for the payment of the costs thereof;
therefore,
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF LA
PORTE AREA WATER AUTHORITY:
Section 1: That the President and Secretary of
the Board of Directors of. the Authority are hereby autho-
rized and directed to make application to the Texas Water
Commission (the "Commission") pursuant to Section 54.516 of
the Texas Water Code, as amended, for an investigation and
report upon the feasibility of the Authority's purchasing an
undivided interest in the Southeast Plant ~nd acquiring and
constructing the Transmission System and the Distribution
System, and to request the Commission to approve the bonds
of the Authority in the aggregate principal amount of
$9,800,000 to be issued for the purpose of paying the above
costs and for other proper purposes.
Section 2: That the Authority hereby assures the
Commission that the Authority will abide by the terms and
conditions prescribed by the Commission.
023DESAP/024COl
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Section 3:
That Authority's engineers are
authorized and directed to prepare and engineering report in
such form as may be required by the Commission and submit
the same to the Commission in support of such application
and to do any and all things necessary and proper in
connection therewith.
Section 4: That the President and Secretary of
this Board of Directors, the Authority's General Counsel,
Knox W. Askins, J.D., P.C., and the Authority's Bond
Counsel, Baker & Botts, are hereby authorized and directed
to do any and all things necessary and proper in connection
with such application.
PASSED AND APPROVED this the 12th day of April,
1988.
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Pr si n, Board of Directors
La Porte Area Water Authority
ATTEST:
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Secretary, Board of Directors
La Porte Area Water Authority
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023i?~S'AP/024COl
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LA PORTE AREA WATER AUTHORITY
APPLICATION FOR APPROVAL BY TEXAS WATER COMMISSION
OF AUTHORITY'S PROJECT AND BONDS
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TO THE HONORABLE TEXAS WATER CO~~ISSION:
La Porte Area Water Authority (the "Authority") in
Harris County, Texas, files and presents this application
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pursuant to Section 54.516 of the Texas Water Code, and re-
quests the Commission to take such action thereon as provid-
ed by said Section and other appropriate laws of this State.
The Authority seeks approval of $9,800,000 aggre-
gate principal amount of its revenue bonds (the "Bonds"),
to be issued without the holding of an election pursuant to
the special act creating the Authority, Chapter 729, pages
2,678 et seq., Acts of the 67th Legislature of the State of
Texas, Regular Session, 1981, (the "Act") for the purpose of
(i) purchasing an undivided interest in the Southeast Water
Purification Plant (the "Southeast Plant") ~nder construc-
tion by the City of Houston, Texas, and paying expenses
incidental thereto, (ii) paying the costs of acquisition and
construction of a transmission system and a distribution
system to transport water from the Southeast Plant to the
customers of the Authority and (iii) paying such other
expenses of the Authority as may properly be paid from the
proceeds of the Bonds. The Bones will bear interest at a
net effective interest rate not exceeding the maximum rate
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permitted by law and will mature serially in accordance with
the schedule annexed hereto as Exhibit A. In connection
therewith, the Authority submits in writing this application
for investigation, together with a copy of its Engineer's
Report, copies of data, profiles, maps, plans and specifica-
tions prepared in connection therewith and copies of other
pertinent documents required by the Rules and Regulations of
the Commission.
The Authority was created on or about June 16,
1981, pursuant to the Act, and embraces the territory de-
scribed in the Act.
Upon completion of the Southeast Plant, and the
construction of certain transmission and distribution lines,
surface water will be the primary source of supply for
customers of the Authority. Currently, groundwater is the
source of supply for customers of the Authority.
Currently herewith, the Authority is filing with
the Commission a certified copy of the Act. The Authority
covers substantially the same territory as the City of La
Porte, Texas. Because the Authority was created pursuant to
the Act, which was supported by ~he City of La Porte, an
ordinance of the City Council of the City of La Porte
consenting to creation of the Authority was not required.
Partial payments to any contractor or contractors
performing the work to be financed with the proceeds from
023DESAO/024C01
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the Bonds (and with whom the Authority nas a contract) will
comply with the r~quirements of Section 54.228 of the Texas
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Water Code, as amended.
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It is essential to the Authority's improvement
program and progress and is in the best.interest of the
Authority that the Bonds be approved by the Commission at
this time.
WHEREFORE, the Authority pray~ that the Commission
investigate, report upon and approve (1) said Engineer's
Report and the data, profiles, maps, plans and specifications
prepared in connection therewith; (2) the Engineer's and
Authority's estimates of costs; (3) the issuance of the Bonds
described above; and (4) the Authority's proposed improve-
ments and project. The Authority further prays that the
Commission make a full written report thereon, file the same
in its office and furnish a copy of same to the Board of
Directors of the Authority, that the Commission do all other
things required of it by law and particularly Section 54.516
of the Texas Water Code in connection with this Application,
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be entitled.
and that the Authority have any other relief to which it may
DATED this 12th day of April, 1988.
LA PORTE AREA WATER AUTHORITY
ATTEST:
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Secretary, Board of Directors
[SEAL']
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023DESAZ/024C01
BY~~tors
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EXHIBIT A
e LA PORTE AREA WATER AUTHORITY e
..... .-\..,. ..... ...., $9,800,000 WATER SUPPLY CONTRACT REVENUE BONDS
SERIES 1987 AND 1988 COMBINED
DEBT SERVICE SCHEDULE
DATE PRINCIPAL COUPON INTEREST PERIOD TOTAL " FISCAL TOTAL
...
121 1188 U3,556.67 443,556.67 443,556.67
61 1/89 329,317.50 329,317.50
121 1189 329,317.50 329,317.50 658,635.00
61 1/90 329,317.50 329,317..50.
12/ 1/90 329,317.50 329,317-.5a '~: 658,635.00
6/ 1/91 329,317.50 329,317,50 -.
121 1191 329,317.50 329,317 .50 658,635.00
61 1/92 329,317..50 329,317..50
12/ 1/92 155,000.00 329,317.50 484,317.50 813,635.00
6/ 1/93 32.5,481. 2.5 325,481.25 .-
12/ 1/93 16.5,000.00 32.5,481.2.5 490,481.25 815,962..50
6/ 1/94 321,232..50 321,232.50
12/ 1194 175,000.00 321,232.50 496,232,50 817,465.00
6/ 1/9.5 316,5.51.25 316,551.2.5
12/ 1/95 190,000.00 316,.551.2.5 506,551. 25 823,102.50
6/ 1/96 311,278.75 311,278.75
12/ 1/96 205,000.00 311,278.75 516,278,75 827,5.57.50
6/ 1/97 305,385.00 30.5,38.5,00
12/ 1/97 215,000.00 305,385.00 520,38.5.00 825,770.00
6/ 1/98 298,988,75 298,988.75
12/ 1198 23.5,000.00 298,988.75 533,988.75 832,977.50
61 1/99 291,821.25 291,821.2.5
12/ 1199 24.5.000.00 291,821,2.5 .536,821.2.5 828,642..50
6/ 1/ 0 284,16.5.00 284,165.00
121 11 0 265,000.00 284,16.5,00 549,165.00 833,330.00
61 11 1 275,685,00 275,685.00
121 11 1 285,000.00 275,68.5.00 560,685.00 836,370,00
61 11 2 266,422.50 266,422.50
121 11 2 305,000.00 266,422.50 571,422..50 837,845.00
61 11 3 2.56,3.57.50 256,357,50
121 11 3 325,000.00 2.56,3.57.50 581,3.57.50 837,715.00
6/ 11 4 245,470,00 245,470.00
121 1/ 4 350,000.00 24.5,470,00 .59.5,470.00 840,940.00
61 1/ 5 233,.570.00 233,.570.00
12/ 1/ 5 375,000.00 233,570.00 608,570.00 842,140.00
6/ 11 6 220,726.25 220,726.2.5
121 11 6 400,000.00 220,726.25 620,726.25 841 , 452 . 50
61 11 7 206,926.25 206,926.25
121 11 7 430,000,00 206,926.25 636,926.25 843,8.52.50
6/ 11 8 191,983.75 191,983.75
12/ 11 8 460,000.00 191,983,75 651,983.75 843,967.50
6/ 11 8 175,898,75 17.5,998.7.5
121 11 8 490,000.00 175,988.75 665,998.75 841,997.50
8/ 1/10 158,971.25 158,971.2.5
121 1110 520,000.00 158,871.25 678,971.2.5 837,942.50
61 1/11 140,901.25 140,901.25
121 1/11 560,000.00 140,801.25 700,901.25 841,802.50
81 1/12 121,301.25 121,301.25
121 1112 600,000.00 121,301.25 721,301.25 842,602.50
61 1/13 100.301.25 100,301.25
12/ 1113 64.5,000.00 100,301.25 745,301.2.5 84.5,602.50
6/ 1/14 77,726.25 77,726.25
12/ 1114 68.5,000.00 77,726.25 762,726.25 840,452.50
6/ 1/1.5 53,580.00 53,.580.00
121 111.5 73.5,000.00 53,580.00 788,.580.00 842,160.00
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DATE
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6/ 1/16
121 1116
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ACCRUED
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DATED 12/ 1187
BOND YEARS
AVERAGE COUPON
AVERAGE LIFE
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LA PORTE AREA WATER AUTHORITY .
S9,800,OOO WATER SUPPLY CONTRACT REVENU~NDS
SERIES 1987 AND 1988 COHBlNED
DEBT SERVICE SCHEDULE
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PRINCIPAL
COUPON
INTEREST PERIOD TOTAL FISCAL TOTAL
785,000,00
27,671.25
27,671.25
8100,3102.50
27,671.25
812,671.25
9,800,000,00
13,1095,089.17 23,295,089.17
9,800,000.00
13,495,089.17 23,295,089,17
WITH DELIVERY OF 12/ 1187
199,590.000
6.761
20.366
6,761405 I USING 100.0000000
PREPARED BY K:>RONEY, BEISSNER & CO" INC.
RUNDATE: 11-210-1987 . 10:15:11
FILENAME: LPAWA
KEY: SER 87&88