BAWA Resolution No. 2024-14 RESOLUTION NO. 2024-14
RESOLUTION BY THE BOARD OF DIRECTORS OF THE BAYTOWN AREA
WATER AUTHORITY DELEGATING APPROVAL OF THE PRELIMINARY
OFFICIAL STATEMENT; APPOINTING UNDERWRITERS AND THE
PAYING AGENT/REGISTRAR; AND APPROVING OTHER MATTERS
INCIDENTAL THERETO
******************************************************************************
WHEREAS, the Board of Directors (the "Board") of the Baytown Area Water Authority
(the "Authority") desires to issue its Baytown Area Water Authority Water Supply Contract
Revenue Bonds, Series 2024 (City of Baytown Project) (the "Bonds") in an aggregate principal
amount not to exceed $23,500,000 for the purposes of the design, construction, acquisition and
equipment of (i) raw water rehabilitation projects and (ii) the expansion of the Surface Water
Treatment Plant and related infrastructure, and paying the costs of issuing such Bonds; and
WHEREAS,the Authority desires to provide for the approval of the form and content of a
preliminary official statement(the"Preliminary Official Statement")in anticipation of its issuance
of the Bonds; and
WHEREAS, pursuant to Section 49.181(h)(1)(D), Texas Water Code, the issuance of the
bonds is exempt from review by the Texas Commission on Environmental Quality; and
WHEREAS, pursuant to Section 49.183(d), Texas Water Code, the sale of the bonds is
exempt from competitive sealed bidding requirements of the Texas Water Code; and
WHEREAS, the Authority desires to appoint a syndicate of underwriters in connection
with the issuance of the Bonds; and
WHEREAS, the Authority desires to appoint a paying agent registrar in connection with
the issuance of the Bonds; and
WHEREAS, the Authority desires to authorize the Authority's financing team to proceed
with the preparations for the issuance of the Bonds, which Bonds will be approved by the Board
at a subsequent meeting of the Authority; NOW, THEREFORE
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE BAYTOWN AREA
WATER AUTHORITY:
Section 1. The findings, definitions and recitations set out in the preamble to this
resolution are found to be true and correct and are hereby adopted by Board and made a part hereof
for all purposes.
Section 2. The General Manager of the Authority or his or her designee is authorized
to approve the final form and content of the Preliminary Official Statement and to deem such
Preliminary Official Statement, with such additions, corrections and revisions as are approved by
the General Manager of the Authority or his or her designee, final within the meaning and for the
purposes of paragraph (b)(1) of Rule 15c-2-12 of the Securities and Exchange Commission. The
use of the Preliminary Official Statement in connection with the sale of the Bonds is hereby
approved.
Section 3. Robert W. Baird & Co. Incorporated is hereby named senior managing
underwriter for the Bonds and Raymond James & Associates, Inc., and FHN Financial Capital
Markets are hereby named underwriters for the Bonds.
Section 4. BOK Financial, NA is hereby appointed as paying agent/registrar for the
Bonds.
Section 5. The Authority's financial advisor, Hilltop Securities Inc., and bond
counsel, Bracewell LLP, are authorized and directed to proceed with the necessary arrangements
for the sale of the Bonds in accordance with the aforesaid Preliminary Official Statement.
Section 6. The President and Secretary of the Board, the General Manager of the
Authority, and other officers and agents of the Authority are hereby authorized and directed to do
any and all things necessary or desirable to carry out the provisions of this resolution.
Section 7. This resolution shall take effect immediately upon its passage.
Section 8. It is hereby found, determined and declared that the meeting at which this
Resolution is considered is open to the public as required by law, and public notice of the time,place
and purpose of said meeting was given as required by Chapter 551, Texas Government Code, as
amended.
[Signature Page Follows]
INTRODUCED, READ and PASSED by the affirmative vote of the Board of Directors
of the Baytown Area Water Authority this the 20th day of March, 2024.
President, Board of Directors
ATTEST:
1�P� P WATF���.,�.
9
Secretary, oard of Directcu o
X _
; cv S Y;
!l111W
[SEAL]
APPROVED A3 TO FORM:
i
General Co ns j
Signature Page to Baytown Area Water Authority Resolution No. 2024-