DATE: November 17, 2015
TO: Mayor and City Council
FROM: Director of Utilities & Environmental Services
SUBJECT
Title
Recycled Water Project: Adoption of a Revised Resolution of Pledged Revenues and Fund(s) Required for the Recycled Water Project State Revolving Fund Loan Application
End
RECOMMENDATION
Recommendation
That the City Council adopts the attached revised resolution (Attachment I) required by the State Water Resources Control Board (SWRCB) for the Recycled Water Project State Revolving Fund (SRF) Loan Application.
Body
SUMMARY
On October 13, 2015, the City Council adopted Resolution 15-195, Recycled Water Project Revenues and Fund(s) Resolution, in support of the SRF Loan Application. After reviewing the SRF Loan Application, SWRCB staff has requested the City to revise the resolution by replacing “Sewer Improvement Fund” with “Net Revenues of the Sewer Enterprise Fund and the Sewer Enterprise Fund.” Federal law requires applicants to establish a dedicated source of revenue for repayment. The legal counsel for SWRCB advised City staff to pledge the financing of the loan from the revenue fund. Accordingly, staff has revised Resolution 15-195 as requested by SWRCB.
The project’s specifics are discussed in the October 13, 2015 Staff Report; File No. CONS 15-251
(see Related Files I).
Prepared by: Aparna Chatterjee, Associate Civil Engineer
Suzan England, Senior Utilities Engineer
Staff contact
Recommended by: Alex Ameri, Director of Utilities & Environmental Services
end
Approved by:
Fran David, City Manager
Attachments:
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Attachment I |
Revised Resolution of Pledged Revenues and Fund(s) |
Related Files:
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Related Files ICONS 15-251 - Recycled Water Project: Adoption of Reimbursement Resolution and Pledged Revenues and Funds Resolution for the State Revolving Fund Loan Application |
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