HomeMy WebLinkAboutR23-605335
RESOLUTION NO. R23-605
RESOLUTION AUTHORIZING THE FILING OF AN APPLICATION FOR
FINANCIAL ASSISTANCE FROM THE STATE INFRASTRUCTURE
BANK; AUTHORIZING THE CITY MANAGER TO ACT ON BEHALF OF
THE CITY OF PLAINVIEW IN ALL MATTERS RELATING TO THE
APPLICATION
WHEREAS, the State of Texas has deemed it necessary to make certain Highway
improvements on Highway No. SH 194 from IH 27 to FM 3466, and this section of highway
improvements will necessitate the acquisition of certain right of way and the relocating
and adjusting of utilities (the "Project"); and
WHEREAS, Texas Transportation Code §§ 201.103 and 222.052 establish that
the State of Texas shall design, construct, and operate a system of highways in
cooperation with local governments; and
WHEREAS, the City of Plainview is a home -rule municipality and political
subdivision of the State of Texas and pursuant to the constitution and laws of the State of
Texas including, but not limited to, Article 11, Section 5 of the Texas Constitution as a
home -rule city, Chapter 552 of the Texas Local Government Code and the Plainview City
Charter, has the authority to operate a water utility system for the benefit of the citizens
of the City of Plainview; and
WHEREAS, the proposed Project will necessitate the adjustment, removal, and/or
relocation of certain facilities and water pipelines that are owned and operated as the
water utility of the City of Plainview; and
WHEREAS, the City of Plainview has provided the State of Texas sufficient
evidence detailing the City of Plainview's interest in lands, facilities and water pipelines
being impacted by the Project that entitles the City of Plainview to reimbursement for the
adjustment, removal, and relocation of the City's facilities and water pipelines impacted
by the Project; and
WHEREAS, Hale County, the county in which Plainview lies, has been designated
as an Economically Disadvantaged County by the Texas Department of Transportation
from 2017 to 2022; and
WHEREAS, any funding needed from the City to adjust, remove and relocate the
City's water utilities due to the reconstruction associated with the Project will be taken
from City of Plainview reserves to meet the needs of Texas Department of
Transportation's Project; and
WHEREAS, any debt issued by the City of Plainview has been dedicated to finance
the relocation of utility lines critical to the operations of the City of Plainview's water utility
for the benefit the City's customers and the citizens of the City of Plainview; and
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WHEREAS, the State Infrastructure Bank, operated by the Texas Department of
Transportation, is a revolving loan fund that provides access to capital funds at or below -
market interest rates that can be granted to any public or private entity authorized to
construct, maintain, or finance an eligible transportation project; and
WHEREAS, the City of Plainview deems it proper and in the best interest of the
City of Plainview to apply for a loan from the State Infrastructure Bank in an amount up
to $3,000,000 to be used for State Highway 194 Utility Relocations; and
WHEREAS, based on the facts outlined in the recitals above the City Council of
the City of Plainview believes it meets the qualifications to receiving funding from the State
of Texas Facilities for reimbursement from the State of Texas of the cost to adjust, remove
and relocate the City's facilities and water pipelines due to the reconstruction associated
with the Project and supports the City submitting an Application for State Participation in
the Relocation of Certain Publicly -Owned Utility and believes that by doing so is in the
best interest of the City of Plainview and its citizens;
WHEREAS, the City of Plainview is qualified to apply for and obtain financial
assistance from the State Infrastructure Bank for this purpose;
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLAINVIEW, TEXAS, THAT:
1. The recitals outlined above are, to the best of the knowledge of the City Council,
found to be true and correct and are hereby adopted, approved and incorporated herein
as though set forth fully herein.
2. The City Council that it is in the best interest of the City of Plainview to apply for
a loan from the State Infrastructure Bank in an amount up to $3,000,000 to finance State
Highway 194 Utility Relocation Project.
3. The City Council hereby authorizes the City Manager to execute an application
for financial assistance from the State Infrastructure Bank and to submit the application,
together with all required documentation, to the Texas Department of Transportation for
consideration.
4. The application to be submitted is attached hereto as Exhibit A and made a part
hereof for all purposes.
PASSED AND APPROVED this 13th day of June, 2023.
Charle Starn s, Mayor
Resolution R23-605
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ATTEST:
19�1& - lf—?,�
Belinda Hinojosa, it ecretary
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SECTION I - Applicant Information
Applicant Name: City of Plainview
Application Type:FCFS - TxDOT Project < $10M
Primary Contact: (806) 296-1106
Taxpayer FEIN: 1-75-6000639
Contact's Title: Jeffrey Snyder
Email Address: jsnyder@plainviewtx.org
Street Address: 202 W. 5th Street
Phone Number: (806) 296-1106
City: Plainview Zip:79072
County: Hale
Council/Board Bi-weekly
Urbanized Area: Small Urban Area
Meeting Frequency:
TxDOT District: LBB - 5 - Lubbock
TxDOT District Engineer:
Phone Number:
Steve Warren, P.E.
(806) 748-4420
TxDOT District Contact Name:
Phone Number:
Kylan Francis
(806) 748-4420
Financial Advisor Information, if applicable:
Name: Vince Viaille
Phone: (806) 749-7734
Firm: Specialized Public Finance
Email: vince@spubfin.com
Bond Counsel Information, if applicable:
Name: Rudy Segura, Jr.
Phone: (214) 754-9268
Firm: McCall, Parkhurst & Horton
Email: rsegura@mphlegal.com
SECTION II - Financial Information
Requested amount of financial assistance (must be rounded to
the nearest thousand):
$2,886,000
Requested terms:
Years: 10
Deferment of first payment: ® No Yes, number of years:
Preferred debt service payment date(s): ® Yes: January2024
Disbursement Date(s): ® As soon as possible ❑ Preferred date(s):
Breakdown of use of funds (must equal application amount):
❑ No, start from disbursement
Utility Relocation $2,885,722.50
Total $2,885,722.50
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Proposed pledge of source of repayment and priority claim to those sources (indicate if requesting subordinate and reason):
Utility Fund Revenues
List any other existing debt payable from the same revenue source (Please attach documentation.)
Water and Wastewater System G.O. Refunding Bonds, Series 2020; Water and Wastewater System Revenue Bonds, Series 2023
Current credit rating(s), if applicable:
General Obligation Bonds, Series 2017: AA- Water and Wastewater System Revenue Bonds, Series 2023: A+
Provide the applicant's legal authority to incur the proposed debt and the borrower's proposed pledge of source of repayment:
City of Plainview Resolution
SECTION III - Project Information
Brief Description of the Project:
Utility line relocations on State Highway 194 (Quincy Street)
Total Cost of Entire Project: (i.e. right of way, construction, utilities, etc.)
$ 3,189,397.50
CSJ Number(s):
0439-05-026
Is the project in the Statewide Transportation Improvement Program (STIP)?
If no, when will it be added or provide justification for not adding
®Yes F-]No
Is the project environmentally cleared?
®Yes F]No Anticipated Clearance Date:
Functional Classification: Minor Arterial
Is the requested financial assistance a local match? If yes, is it required or voluntary?
❑ Yes: ® No
Is the project joint bid?
Yes ®No
Describe need and anticipated public benefits of the project:
Reconstruction of State Highway 194 as identified in the State Transportation Improvement Plan
What type of construction contract will be used on the project (DB, DBB, etc.)?
Competitive Sealed Bid
Additional Information (Attach additional pages if needed):
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SECTION IV - Required Documentation
Does entity have home rule charter? If Yes, please submit a copy of the charter, or provide link if a charter is posted online.
® Yes ❑ No
List of all other outstanding financial agreements with TX DOT, for example toll equity, SIB loans, pass -through tolls, etc.
(Please attach documentation)
N/A
Please submit the following documents with your application, if applicable.
❑ Copy of Advanced Funding Agreement, Utility Relocation or other agreement with TxDOT, if applicable
❑ Bond rating letters from Moody's, Standard & Poor's, or Fitch, if any.
❑ Resolution from governing board authorizing the application.
❑ Financial feasibility study.
❑ 5 years of audited financial statements related to the source of repayment. (Can provide link if online)
❑ Copy of the most recent budget. (Can provide link if online)
❑ Preliminary design study which includes:
• An initial route and potential alignments.
• The project's logical termini and independent utility.
• The location of all right-of-way, facilities and equipment required to make the project functional.
• Revisions or changes to state highway system facilities necessitated by the project.
• An Environmental Review of the project if available.
• Legal or letter size map of the project.
All application information and materials can be submitted electronically to TexasSIB@txdot.gov or by mail to:
TxDOT Project Finance, Debt, and Strategic Contracts Division
State Infrastructure Bank (SIB)
125 East 11 th St.
Austin, TX 78701-2483
Section V - Acknowledgment and Certification
I certify that:
I have the authority to request and incur the debt described in this application, and upon award, will enter into contract for
repayment of any financial assistance granted by the Texas Department of Transportation's State Infrastructure Bank (SIB).
I have completed the preliminary requirements, and will comply with all applicable state and federal regulations and
requirements.
To the best of my knowledge, all information contained in this application is valid and accurate and the governing body of the
undersigned jurisdiction has authorized the submission of this application.
Signature of authorized official
Jeffrey Snyder
Printed Name
Date
City Manager, City of Plainview
Title, Jurisdiction
The Texas Department of Transportation maintains the information collected through this form. With few exceptions, you are entitled on request to be informed about the
information that we collect about you Under Sections 552.021 and 552.023 of the Government Code, you also are entitled to receive and review this information Under
Section 559.004 of the Government Code, you are also entitled to have us correct information about you that is incorrect.