12 - Laserfiche WebLink

ATTACHMENT 1 RESOLUTION NO. RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PLEASANTON APPROVING SEWER REVENUE BOND REFINANCING BY THE LIVERMORE- AMADOR VALLEY WATER MANAGEMENT AGENCY, AUTHORIZING EXECUTION OF RELATED AMEDED AND RESTATED SEWER SERVICE CONTRACT, AND RELATED MATTERS WHEREAS, the City of Pleasanton (the "City") is, together with the City of Livermore and the Dublin San Ramon Services District (together, the "Members") of the Livermore- Amador Valley Water Management Agency ("LAVWMA");and WHEREAS, LAVWMA acquired and constructed facilities for the disposal or reuse of treated wastewater from the Livermore-Amador Valley in order to carry out the purposes for which it was established; WHEREAS, to finance the cost of the acquisition and construction of such facilities LAVWMA issued its revenue bonds in the principal amount of$142,385,000 on March 21, 2001 (the "2001 Bonds"), as authorized by law; WHEREAS, in order to complete such financing, LAVWMA required the Members to agree to pay certain minimum payments for Sewer Service to be provided by LAVWMA to the Members, as provided in that certain Sewer Service Contract, dated as of March 1, 2001, among the Members and LAVWMA (the "2001 Sewer Service Contract"); and WHEREAS, LAVWMA has determined that interest savings will be achieved if the 2001 Bonds are refunded through the issuance of its sewer revenue refunding bonds (the "2011 Bonds") and LAVWMA and the Members have determined it is necessary to amend and restate the 2001 Sewer Service Contract in connection therewith; and WHEREAS, LAVWMA will continue to provide Sewer Service to the Members, as provided in that certain Amended and Restated Sewer Service Contract, dated as of October 1, 2011, among LAVWMA and the Members (the "Amended and Restated Sewer Service Contract"),which amends and restates the 2001 Sewer Service Contract; and WHEREAS, the Members are obligated under the Amended and Restated Sewer Service Contract to make payments for sewer service which is calculated to be sufficient to pay debt service on the 2011 Bonds; and WHEREAS,Jones Hail, A Professional Law Corporation, acting as disclosure counsel to LAVWMA, has, with the assistance of the Members and LAVWMA, prepared a Preliminary Official Statement (the "Preliminary Official Statement"), which describes the 2011 Bonds (including specifically the security therefor), and the finances and wastewater collection,