HomeMy WebLinkAboutReso 2013-082 - State Water Resources Board
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RESOLUTION NO. 2013-082 f
A RESOLUTION OF THE CITY COUNCIL OF- THE
CITY OF REDDING AUTHORIZING DESIGNATED
CITY OFFICIALS TO FILE AN APPLICATION FOR
FINANCIAL ASSISTANCE FOR A FINANCIAL
AGREEMENT - FROM THE STATE WATER
RESOURCES CONTROL BOARD TO ACCEPT AND
EXPEND THOSE FUNDS IF THE APPLICATION IS
GRANTED AND TO DEDICA TETHE SOURCE OF
REVENUE FOR REPAYMENT TO THE CLEAN WATER
STATE REVOLVING FUND
WHEREAS, the City of Redding (the "City") desires to finance the costs of constructing
and/or reconstructing certain public facilities and improvements relating to its water and wastewater
system, including certain treatment facilities, pipelines, and other infrastructure of the Clear Creek
Wastewater Treatment Plant Biosolids Dewatering and Handling Facility, C-06-7891-110 (the
"Project"); and
WHEREAS, the City intends to finance the construction and/or reconstruction of the Project
or portions of the Project with monies (the "Project Funds") provided by the State of California,
acting by and through the State Water Resources Control Board (the "State Water Board"); and
WHEREAS, the State Water Board may fund the Project Funds with proceeds from the sale
of obligations, the interest upon which is excluded from gross income for federal income tax
purposes (the "Obligations"); and
WHEREAS, prior to either the issuance ofthe Obligations or the approval by the State
Water Board of the Project Funds, the City desires to incur certain capital expenditures (the
"Expenditures") with respect to the Project from available monies ofthe City; and
WHEREAS, the City has determined that those monies to be advanced on and after the date
hereof to pay the Expenditures are available only for a temporary period and it is necessary to
reimburse the City for the Expenditures from the proceeds of the Obligations;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Redding that
the Public Works Director or Assistant Public Works Director (the "Authorized Representative" or
designee) is hereby authorized and directed to sign and file, for and on behalf of, the City of
Redding, a Financial Assistance Application for a financing agreement from the State Water Board
for the planning, design, and construction ofthe Project.
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BE IT FURTHER RESOLVED that this Authorized Representative, or hislher designee, is
designated to provide the assurances, certifications, and commitments required for the financial
assistance application, including executing a financial assistance agreement from the State Water
Board and any amendments or changes thereto.
BE IT FURTHER RESOLVED that the Authorized Representative, or hislher designee, is
designated to represent the City in carrying out the City's responsibilities under the financing
agreement, including certifying disbursement requests on behalf of the City and compliance with
applicable state and federal laws. .
BE IT FURTHER RESOLVED as follows:
1. The City hereby states its intention and reasonably expects to reimburse the
Expenditures paid prior to the issuance of the Obligations or the approval by the State
Water Board of the Project Funds.
2. The reasonably expected maximum principal amount ofthe Project Funds is $7,250,000.
3. This resolution is being adopted no later than 60 days after the date on which the City
will expend monies for the portion of the Project's costs to be reimbursed with the
Project Funds.
- 4. Each City Expenditure will be of a type properly chargeable to a capital account under
general federal income tax principles.
- 5. To the best of our knowledge, the City is not aware of the previous adoption of official
intents by the City that have been made as a matter of course for the purpose of
reimbursing expenditures and for which tax-exempt obligations have not been issued.
6. This resolution is adopted as official intent of the City in order to comply with Treasury
Regulation 91.150-2 and any other regulations of the Internal Revenue Service relating
to the qualification for reimbursement of the Project's costs.
7. All the recitals in this resolution are true and correct and the City so finds, determines,
and represents.
BE IT FURTHER RESOLVED that the City hereby dedicates and pledges the Wastewater
Enterprise Fund, and net revenues thereof, to payment of any and all Clean Water State Revolving
Fund and/or Water Recycling Funding Program financing for the Project. The City commits to
collecting such revenues and maintains such fund( s) throughout the term of such financing and until
the City has satisfied its repayment obligation thereunder unless modification or change is approved
in writing by the State Water Resources Control Board. So long as the financing agreement(s) are
outstanding, the City's pledge hereunder shall constitute a lien in favor of the State Water Resources
Control Board on the foregoing fund(s) and revenue( s) without any further action necessary. So long
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as the financing agreement(s) are outstanding, the City commits to maintaining the fund(s) and
revenue(s) at levels sufficient to meet its obligations under the financing agreement(s).
I HEREBY CERTIFY that the foregoing is a full, true, and correct copy of a resolution that
was introduced, read, and adopted at a regular meeting of the City Council on the 3rd day of
September, 2013, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
COUNCIL MEMBERS:
COUNCIL MEMBERS:
COUNCIL MEMBERS:
COUNCIL MEMBERS:
Cadd, Jones, McArthur, Sullivan, & Bosetti
None
None
None
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CK BOSETTI, Mayor
ATTEST: :.
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FORM APPROVED:
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RICHARD A. DUVERNA , City Attorney
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Engineering\Resolutions\Reso-CCWWTP-SRF -Biosolids-DB-CC.doc