Item 11 - Moore’s Crossing MUD of Unlimited Tax Refunding Bonds, Series 2026 — original pdf

Backup

Item 11 Water & Wastewater Commission: October 14, 2026 Council: October 22, 2026 Posting Language ..Title Recommend approval of a resolution authorizing the issuance by Moore’s Crossing Municipal Utility District of Unlimited Tax Refunding Bonds, Series 2026, in an amount not to exceed $7,600,000. Funding: There is no fiscal impact. ..Body Lead Department Austin Financial Services Fiscal Note There is no fiscal impact. Council Committee, Boards and Commission Action: October 14, 2026 - To be reviewed by the Water and Wastewater Commission Additional Backup Information: The City of Austin and the Moore’s Crossing Municipal Utility District entered into the Agreement Concerning Creation of Moore’s Crossing Municipal Utility District on March 13, 1986. The District was created by the Texas Water Commission, predecessor to the Texas Commission on Environmental Quality (TCEQ) on June 17, 1987. The District consists of approximately 818 acres located in Travis County, approximately eight miles south-southeast of Austin's central business district, and is situated approximately 1.5 miles south of Austin Bergstrom International Airport. The District is located southeast of the intersection of FM 973 and Elroy Road, and traverses eastward across SH 130. The District is required to obtain City approval for all bond sales pursuant to the Consent Agreement. The City has received a request from the District to approve the District’s bond sale in the amount of $7.6 million consistent with a bond proposition approved by District voters in 1987. The total amount of bonds authorized for the District is $32 million in unlimited tax bonds. After the proposed bond issue, $11.98 million in unlimited tax bonds will remain authorized but unissued. The proceeds of the Bonds will be used to finance the water distribution, wastewater collection, and drainage facilities serving Stoney Ridge Highlands Phase 1. The remaining Bond proceeds will be used to: • Capitalize approximately 12 months interest requirements on the Bonds; • • Pay developer interest; and Pay other costs associated with the issuance of the Bonds. City staff from Austin Water, Austin Parks and Recreation, Austin Planning, Austin Energy, Austin Development Services, Austin Housing, Austin Transportation and Public Works, and Austin Watershed Protection reviewed the District’s Consent Agreement and its amendments. The District was found to be in substantial compliance with the terms of the Consent Agreement and will address unresolved concerns with a future amendment to the Consent Agreement. Austin Financial Services and the City’s Financial Advisor have reviewed the District’s proposed bond sale and recommend approval.