Title
Authorize the City Manager to finalize and execute a Project Financing Agreement (City of Crandall Water Supply Project) with the City of Crandall for certain water transmission line improvements.
Body
Mesquite and Crandall entered into a Memorandum of Understanding outlining the basic concepts necessary for Mesquite to supply Crandall with treated water on April 19, 2021. Sequentially, the Mesquite City Council approved Resolution No. 09-2022 authorizing the City Manager to execute a formal Wholesale Water Facilities Construction and Treated Water Supply Agreement with the City of Crandall on February 21, 2022. That Interlocal Agreement outlined the specific processes and responsibilities for the construction and operation of the water transmission line. This Project Financing Agreement is a separate agreement setting the terms for Mesquite to finance part or all the cost of the water supply project over a fifteen-year period. The Crandall City Council approved this financing agreement at its September 19, 2022, regular meeting.
Financial Implications
Project financing will be with City of Mesquite American Rescue Plan Act funding.
Recommended/Desired Action
Staff recommends the City Manager be authorized to execute a Project Financing Agreement with the City of Crandall.
Attachment(s)
Project Financing Agreement (City of Crandall Water Supply Project)
Drafter
Mark Kerby
Head of Department
Cliff Keheley