Laserfiche WebLink
RESOLUTION NO. 15-772 <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PLEASANTON FOR <br /> PLEDGED REVENUES AND FUND(S) OF NET REVENUES OF THE WATER <br /> ENTERPRISE FUND AND THE WATER ENTERPRISE FUND FOR REPAYMENT OF <br /> LOANED FUNDS THROUGH STATE WATER RESOURCES CONTROL BOARD FOR <br /> RECYCLED WATER PROJECT <br /> WHEREAS, the City of Pleasanton (the "City") intends to pursue the developed of a <br /> recycled water system using disinfected tertiary recycled water for uses as permitted by Title 22 <br /> of the California Code of Regulations and the California Water Code; and <br /> WHEREAS, the City is the legal authority that has authorized the Director of Operations <br /> Services, or his designee, to enter the City into a financial obligation agreement with the State <br /> Water Resources Control Board for such recycled water project; and <br /> WHEREAS, the City collects a recycled water surcharge on its current water rates and <br /> deposits these funds and other waste water revenue (collectively "Revenues") in the Water <br /> Enterprise Fund. <br /> NOW, THEREFORE BE IT RESOLVED THAT THE CITY COUNCIL OF THE CITY OF <br /> PLEASANTON DOES RESOLVE, DECLARE, DETERMINE AND ORDER THE FOLLOWING: <br /> SECTION 1. The City of Pleasanton (the "Entity") hereby dedicates and pledges the Net <br /> Revenues of the Water Enterprise Fund and the Water Enterprise Fund to the repayment of any <br /> and all Clean Water State Revolving Fund and/or Water Recycling Funding Program financing <br /> for the City of Pleasanton Recycled Water Project, Clean Water State Revolving Fund Project <br /> number 8024-110 (the "Project"). The Entity commits to collecting such revenues and <br /> maintaining such fund(s) throughout the term of such financing and until the Entity has satisfied <br /> its repayment obligation thereunder unless modification or change is approved in writing by the <br /> State Water Resources Control Board. So long as the financing agreement(s) are outstanding, <br /> the Entity's pledge hereunder shall constitute a lien in favor of the State Water Resources <br /> Control Board on the foregoing fund(s) and revenue(s) without any further action necessary. So <br /> long as the financing agreement(s) are outstanding, the Entity commits to maintaining the <br /> fund(s) and revenue(s) at levels sufficient to meet its obligations under the financing <br /> agreement(s). <br /> PASSED, APPROVED AND ADOPTED by the City Council of the City of Pleasanton at <br /> a special meeting held on June 22, 2015 <br /> I, Karen Diaz, City Clerk of the City of Pleasanton, California, do hereby certify that the <br /> foregoing resolution was adopted by the City Council at a special meeting held on June 22, <br /> 2015 by the following vote: <br /> Ayes: Councilmembers Brown, Narum, Olson, Pentin, Mayor Thorne <br /> Noes: None <br /> Absent: None <br /> Abstain: None <br />