RES 02047 - Laserfiche WebLink

The LA VWMA Project: The project consists of an expansion component and a repair component. The expansion component includes a new pipeline and an expanded export pumping station, which are intended to increase the system capacity to 41.2 mgd PWWF. The new pipeline also replaces the western half of the existing pipeline. The repair com- ponent involves relining the interior of the existing export pipeline. The relining of the existing pipeline will follow construction of the new pipeline. LA VWMA Bonds: In March 2001, LA VWMA issued $142,385,000 Sewer Revenue Bonds, Series A. The project being financed with these bonds (and one or more subse- quent bond issues) includes additional export pumping and pipeline rehabilitation and expansion work that increases the total design capacity of the LA VWMA system from 21 mgd peak wet weather flow (PWWF) to 4].2 mgd PWWF. LA VWMA plans to construct the project in at least two phases. The Series A bonds financed the first and most expensive phase of the project. Additional Bonds: The entire project is estimated to cost $160 million. About $13] million of total estimated project costs is funded from the Series A bond issue. The remaining costs of the project are expected to be financed from proceeds of anticipated future parity bonds, reserves or a combination of bonds and reserves. Sewer Service Contract Pursuant to a sewer service contract dated March]. 2001 among LA VWMA, DSRSD, and the cities of Livennore and Pleasanton. DSRSD (on behalf of itself and Pleasanton) and Livennore, are obligated to make payments consisting of a fixed percentage of the debt service on the LA VWMA bonds and LA VWMA maintenance and operation costs. in consideration of the provision of sewer service capacity. The rnembers generally classify the payments as maintenance and operation expenses of their respective sewer systems. The obligation of the members to make payments under the sewer service contract is a several, but not joint obligation. The sewer service contract establishes a fixed cost allocation for debt service for DSRSD and Livennore as follows: · For DSRSD. on behalf of itself and Pleasanton: (i) 60.05 percent of debt service on rehabilitation project bonds, and (ii) 100 percent of debt service on expansion project bonds. . For Livennore: 39.95 percent of debt service on rehabilitation project bonds. . DSRSD. on behalf of itself and Pleasanton. will initially pay 84 percent of the debt service on the bonds (approximately 71 percent is allocable to expansion), and Liver- rnore will initially pay ]6 percent of total debt service. The fixed cost allocation for maintenance and operation costs is 38.76 percent each for DSRSD and Pleasanton. and 22.48 percent for Livennore. 8