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CITY OF PLEASANTON <br />COUNTY OF ALAMEDA <br />STATE OF CALIFORNIA <br /> <br />RESOLUTION NO. 78-121 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />PLEASANTON APPROVING LIVERMORE-AMADOR VALLEY <br />WATER MANAGEMENT AGENCY CASH FLOW REQUIREMENTS <br />DURING PIPELINE CONSTRUCTION. <br /> <br />WHEREAS, <br /> <br />the Livermore-Amador Valley Water Management Agency (LAVWMA) <br />Sewer Revenue Bonds have been sold and the proceeds of the <br />bond sale deposited in the LAV'WMA acquisition and construction <br />fund; and <br /> <br />WHEREAS, the proceeds of the bond sale and the Federal and State parti- <br /> cipation will cover the estimated cost of the project; and <br /> <br />WHEREAS, <br /> <br />a report prepared by Stone and Youngberg, LAVWMA's financial <br />consultants estimates that the three member agencies (Dublin <br />San Ramon Services District and the Cities of Pleasanton and <br />Livermore) will need to advance approximately $738,500 to <br />meet the cash flow requirements during construction; and <br /> <br />WHEREAS, <br /> <br />the City of Pleasanton will be required to contribute <br />$196,736, which is 26.64 percent of the $738,500, based on <br />the fixed cost allocation of the total project; and <br /> <br />WHEREAS, <br /> <br />the cash flow contribution is temporary and upon completion <br />of the project and final audit, the final grant reimbursement <br />payment of approximately $1,238,916 should be received and <br />disbursed to the three LAVWMA members; and <br /> <br />WHEREAS, <br /> <br />the Stone and Youngberg report shows that the $196,736 <br />Pleasanton share of the LAVWMA cash flow requirement is <br />$18.20 for each of the estimated 10,815 dwelling unit <br />equivalents served and the $18.20 for each D.U.E. could be <br />raised by adding, effective July 1, 1978, a surcharge of <br />$1.15 per month for each residential unit and a surcharge <br />equal to 20 percent of the sewer service charge for all <br />other users. <br /> <br />NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON DOES <br />RESOLVE AS FOLLOWS: <br /> <br />Section <br /> <br />1. Approves, effective July 1, 1978, a surcharge be added <br />to the sewer service charges to insure that the City has the <br />funds available to meet the LAVWMA cash flow requirements <br />during the construction of the pipeline, as follows: <br /> <br />(1) Each residential unit - $1.15 per month; and <br />(2) Other users - 20% of sewer service charge. <br /> <br /> <br />