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THE CITY Of <br />rn� <br />pLEASANTON. <br />CITY COUNCIL AGENDA REPORT <br />9 <br />September 2, 2014 <br />Operation Services <br />TITLE: ADOPTION OF TWO RESOLUTIONS PLEDGING REVENUES TO <br />REIMBURSE THE STATE WATER RESOURCES CONTROL BOARD FOR <br />FINANCIAL ASSISTANCE TO SUPPORT THE CONSTRUCTION OF THE <br />RECYCLED WATER PROJECT <br />SUMMARY <br />The City is applying for grant funding through the State Water Resources Control Board <br />(SWRCB) to assist in the construction costs to develop Phase 1A of the Pleasanton <br />Recycled Water Project that will provide, in part, recycled water to the Ken Mercer Sports <br />Park, as specified in the City Council adopted City of Pleasanton Recycled Water Feasibility <br />Study. This funding request is through the SWRCB Clean Water State Revolving Fund <br />Program, in the amount not to exceed $14,007,230 through a 1.0 %, 30 -year loan obligation. <br />As part of this State's loan process, the City Council is required to approve two resolutions <br />with one stating the City's intent to repay the loan (Attachment 1), and the other <br />(Attachment 2) pledging funds for the repayment and establishing a lien against the <br />identified City revenue source that will be used to repay the loan. Staff is recommending <br />approval of these two resolutions. <br />RECOMMENDATION <br />Adopt the following two resolutions required as part of the State's SWRCB Clean Water <br />Revolving Fund Program: <br />1. A resolution stating the City's intention to reimburse itself from the loans from the <br />State Water Resources Control Board for project funding to complete Phase 1A of <br />the Pleasanton Recycled Water Project (Attachment 1) <br />2. A resolution pledging City revenue from the Water Maintenance and Operating Fund <br />(Water M &O Fund) within the Water Enterprise for repayment of loaned funds <br />through the State Water Resources Control Board (Attachment 2). <br />FINANCIAL STATEMENT <br />The total loan being requested through the SWRCB is $14,007,230. The Water M &O Fund <br />within the Water Enterprise is the fund being pledged to reimburse this loan if the City's loan <br />application is accepted. Currently the City's water rates forTier 3 and 4 residential rates, all <br />commercial and multifamily rates and irrigation rates include a $.10 per 100 cubic feet <br />surcharge for recycled water. These funds will be used to repay the loan for the recycled <br />water project. The loan will cover the construction costs associated with developing the <br />recycled water system. <br />