Consideration and approval of a Fourth Amendment to Management Agreement with the

Staff Report & Agenda Item Details

Consideration and approval of a Fourth Amendment to Management Agreement with the Nueces Water Supply Corporation. Mr. Marez stated that Items 16-19 are similar. He stated that the documents were created by bond counsel, Winstead, PC, after they determined that there was a need to get these documents ratified so that the time frame of the agreements matches the length of the TWDB funding. Mr. Baldemar Garcia, R WSC President, stated that he has concerns with the 25-year term and he believes other RWSC Board members do also. He expressed his concerns with the increases in cost of management services and stated that the Corporation needs to have the option to consider other management services. Mr. Morales made a motion to approve the amendments listed in items 15 through 18. Mr. Graveley seconded. The motion passed on a seven to one vote. Mr. Galvan voted against the motion. Mr. Marez explained that the pm-pose of these contracts is to demonstrate stability. Mr. Rogelio Rodriguez added that because of the highly competitive nature of the application process, Water STWA Regular Meeting Minutes July 2, 2024 Page 6 Finance Exchange determined that the best way to secure funding was by way of a collaboration between STW A, Ricardo WSC and Nueces WSC. In addition amending the contracts will result in the agreements coinciding with the te11ns of the funding and will also maximize points for the application. Mr. Garcia stated that he was still concerned with bon

This motion is scored as RESTRAINS_GOVERNMENT (Impact Weight: 4.2/10). Under the Bastiat Liberty Watchdog Index, voting YES on measures that cap or reduce ad valorem tax burdens, expand taxpayer exemptions, retire debt early, enforce competitive bidding caps, or remove regulatory/zoning barriers to private property rights earns a positive Pro-Liberty score.