The Trinity River Authority (TRA) issues debt to fund the infrastructure needed to treat the wastewater from Addison and the TRA’s other customer entities. Payments for service from the TRA’s customer entities are the main source of revenue for the repayment of TRA bonds. Securities and Exchange Commission Rule 15c2-12 of the Securities Exchange Act regulates bond issuances and disclosures. It requires the TRA to create and update a Continuing Disclosure Agreement (CDA) with each of their customer entities (like the Town of Addison). The Town’s original CDA with TRA is dated April 1998 and was amended in 2010. The CDA needs to be amended again to reflect updated disclosure requirements. The CDA defines information that Addison must provide reflecting the operating condition and financial health of the Town such as annual operating information, audited financial statements, the incurrence of a financial obligation, and certain other events related to financial obligations. 

The Town's Financial Advisor, Hilltop Securities, Inc., will manage the disclosure agreements on behalf of the Town.