From
Diana Ortiz
Title
Resolution authorizing the execution and delivery of a continuing disclosure agreement with the Trinity River Authority
Presenter
Diana Ortiz, Chief Financial Officer
Recommended Action
Approve
Analysis
Trinity River Authority of Texas (TRA) notified all the contracted customers for water/wastewater services that TRA is no longer filing the required SEC Disclosure Reports.
City staff currently complies with all SEC regulations related to our debt issues. Therefore, there is some additional information that is required for this debt obligation through TRA and we will add it to our current processes.
In addition, this resolution represents an agreement with the City and TRA committing to investors to provide Continuing Disclosure Reports containing financial and operating information throughout the life of the bonds of this system. Finally, TRA requires the execution of this agreement prior to March 30, 2019.
Financial Consideration
There is no financial impact with this agreement.
Body
A RESOLUTION OF THE CITY OF GRAND PRAIRIE, TEXAS, AUTHORIZING THE EXECUTION AND DELIVERY OF A CONTINUING DISCLOSURE AGREEMENT WITH TRINITY RIVER AUTHORITY OF TEXAS
Whereas, the City of Grand Prairie, Texas and the Trinity River Authority of Texas (the "Issuer") have heretofore entered into, and may in the future enter into, contracts relating to the provision of facilities and/or services by the Issuer for the benefit of the City of Grand Prairie; and
Whereas, in connection with the financing of the facilities and/or services provided by the Issuer for the benefit of the City of Grand Prairie, the Issuer has, and/or will, from time to time authorize, issue and deliver bonds (the "Bonds") of the Issuer supported by payments to be made by the City of Grand Prairie pursuant to such contracts; and
Whereas, the United States Securities and Exchange Commission has adopted Rule 15c2-12, as amended from time to time (the "Rule"); and
Wher...
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