Finance Paper
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WRD-006
1/10/06
TEXAS WATER DEVELOPMENT BOARD
Financial Assistance Application Procedures (WRD-006)
A complete application consists of: (1) general, legal, and fiscal information (outlined below); (2) an engineering feasibility report; (3) an environmental assessment; and (4) a water conservation and emergency water demand management plan (required for financial assistance of more than $500,000). Assistance is available on request (call 512/463 7779). All applications should be sent to the following address:
Texas Water Development Board
Office of Project Finance & Construction Assistance
P.O. Box 13231
1700 N. Congress Avenue
Austin, Texas 78711 3231
(78701 for courier deliveries)
Initially, an original and eight (8) copies of a document containing the following general, legal, and fiscal materials (except as otherwise indicated) should be submitted to the Texas Water Development Board. Applications submitted by e-mail must be followed with paper copies within five (5) business days to be considered as a complete application. Two (2) additional unbound double sided copies (no staples or permanent binding) will be requested following staff review and comment.
GENERAL INFORMATION:
Legal name of applicant(s) and each participating political subdivision and authority of law under which created and authority of law under which entity was created and debt is being issued; location, and population,
Name, title, address, phone, and fax numbers and e mail address (if available) of official representative(s);
Names and titles of principal officers;
Name, address, phone, and fax numbers, e mail address (if available) and contact person of: (a) project engineer; (b) bond counsel; (c) legal counsel [if other than bond counsel]; (d) financial advisor; and (e) any other consultant representing the applicant before the Board;
Comprehensive description of the project;
For each participating political subdivision (including federal or state agencies), provide breakdown of ownership interest, allocation of project costs including financing sources and current project status; and
Engineers most current itemized project cost estimate (include all costs, specifically construction, engineering services, legal and fiscal costs, and funding sources in a Sources and Uses Statement format).
FISCAL INFORMATION:
Full legal name and a description of the security for the proposed debt issue(s); give full explanation of pledge being offered including flow of funds, additional bonds requirements, and any existing rate covenants’
All bonds are book-entry only, include acknowledgement that applicant is aware of and will abide by Depository Trust Company language;
Disclose all issues that may affect the project or the applicants ability to issue and/or repay debt;
Circumstances surrounding prior default(s) on any debt;
Total outstanding debt. Segregate by type (G.O. or Revenue) and present a consolidated schedule for each, showing total annual requirements (include any authorized but unissed debt,);
6. G.O. and Revenue Debt per capita (regardless of pledge); and
Direct and overlapping tax rate table (regardless of pledge);
8. Assessed valuation per capita (regardless of pledge);
9. Five year sales tax collection history (regardless of pledge).
PROFORMA:
If system revenues are anticipated to be used to repay the proposed debt, a proforma detailing projected gross revenues, operating and maintenance expenditures, net revenues available for debt service showing coverage of current and proposed debt paid from revenues and a clear statement of the revenue pledge being offered; and
If taxes are anticipated to be used to repay the proposed debt, a proforma indicating the tax rate necessary to repay current and proposed debt paid from taxes. List the assumed collection rate and tax base used to prepare the schedule;
List of top ten (10) customers of the water and wastewater system by revenue with corresponding usage and percentage of total