Infrastructure
Long Island Village Infrastructure Project
Laguna Madre Water District (LMWD) Bond Issue & Project Authority
Information sources include BOD Announcements and Public Records
Click on Timeline Item
April 2022
May 2022
June, July 2022
August 2022
     
     
 
 
January, February, March 2022 BOD Meetings
BOD Vice President, Doug Synder, presented Infrastructure Bond Proposal information during January 26, February 23 and March 23, 2022 BOD meetings.  During the Feb. 23 BOD meeting, a motion submitted by LIV's VP was passed unanimously to pay all legal expenses related to LMWD's infrastructure project to be covered under infrastructure funds.
 
March 31, 2022 Town Hall Meeting
Laguna Madre Water District and SWG Engineering addressed LIV participants at a Town Hall Meeting, March 31, 2022. View the entire Town Hall Meeting (copyright Mike Farrell and Asst. Pet Smith)
 
During April's Coffee, Director Duke reads an owner's questions and LMWD answers to Infrastructure Bond Issue.
 
 
LIV announces another Town Hall Meeting, April 28. Recording available soon. LIV sends the following announcement by email:
1) If the project comes in under budget, is the bond refundable to the tax payers, or can a payment be made toward the principal without penalty?
RESPONSE: Excess proceeds can be used to pay bonds debt service only, you can not prepay bonds. Normally issuers excess to pay debt service and the tax levy to aside for I & S fund balance. i.e. sounds like excess funds / surplus will reduce tax burden and be restricted to repay LIV debt only. Surplus will be invested in an interest bearing account in the interim.
2) Are the LIV tax bonds callable at any point?
RESPONSE: Yes. LMWD LIV Bonds will have a 10 year call.
 
A Special Bond Election held on May 7, 2022, resulted in 128 "yes" and 100 "no" votes approving Laguna Madre Water District the authority to issue $20 Million Bond Loan for infrastructure improvements at LIV. Only LIV owners registered to vote in Port Isabel, Cameron County, Texas were allowed to participate in the Special Bond Election.
 
No Report from Infrastructure Committee during June and July BOD Meeting. BOD Committee Chair resigns.
 
During the Coffee with the Directors, Aug, 2022, Laguna Madre Water District representatives attended the coffee unannounced to patrons. Details on the denial of appropriating state funds to reduce LIV's $20M Infrastructure Loan was explained. The State of Texas awarded funds to the top 40 projects submitted. LIV's Infrastructure Project was ranked 79. Recording available soon. LIV sends the following announcement by email:
Dear Residents,
It has been recently brought to our attention that Long Island Village was not selected to receive any grant funds for the infrastructure improvements from the State of Texas. We are asking for your assistance in sending a letter of support to the Texas Water Development Board in hopes of changing this outcome. You can mail or email the following attached template letter with your signature to:
Mr. Mark Wyatt
Director, Program Administration and Reporting
Texas Water Development Board
P.O. Box 13231
Austin, TX 78711
Email: iupcomments@twdb.texas.gov
 
Owners' questions to LWMD prompted an update detailing the status of the approved tax assessments for current and future bond projects for LMWD. Using information presented at March 31 Town Hall Meeting and the accompanying documents submitted in this email, tax assessments can be projected.
 
Director Guy Power was assigned as the new Chairman of the Infrastructure Committee.