Item 80 Passedunofficial
In plain language — from the agenda backup
This authorizes Austin Water to negotiate and sign a financing agreement with the Texas Water Development Board for a 20-year, low-interest loan of up to $5,000,000. The money goes toward replacing polybutylene pipe — an aging material prone to failure — through what's called the Municipal Conservation Project. Repayment depends on funding available in future Austin Water budgets.
The official agenda language
Authorize negotiation and execution of a financing agreement with the Texas Water Development Board for a 20-year, low-interest loan in an amount not to exceed $5,000,000 for Austin Water’s polybutylene pipe replacement project, also known as the Municipal Conservation Project. Funding: Contingent upon available funding in future Austin Water budgets.
"Without objection, the consent agenda is adopted" — meeting transcript (unofficial)