Laserfiche WebLink
ATTACHMENT # 2 <br /> RESOLUTION NO. 16- <br /> DECLARATION OF OFFICIAL INTENT OF THE CITY OF PLEASANTON TO REIMBURSE <br /> CERTAIN EXPENDITURES OF THE DERWA EXPANSION PROJECT FROM PROCEEDS OF <br /> INDEBTEDNESS <br /> WHEREAS, the City's primary source of recycled water (RW) delivered to and through <br /> the new Pleasanton Purple Pipe Project is produced by DERWA (Dublin San Ramon Services <br /> District(DSRSD)— East Bay Municipal Utility District (EBMUD)— Recycled Water Agency), and <br /> WHEREAS, in order to be able to meet all of our forecasted RW demands, the City must <br /> participate in the DERWA facilities expansion project(Project), and <br /> WHEREAS, the City's portion of Project is $6,750,000 which includes construction and <br /> capacity buy-in costs, and <br /> WHEREAS, the City expects to cover its $6,750,000 obligation to DERWA <br /> (Reimbursement Expenditures) prior to securing a loan for the purpose of financing the Project <br /> costs on a longer-term basis which will ensure Water funds are available for other capital needs, <br /> and <br /> WHEREAS, Section 1 150-2 of the Treasury Regulations requires the borrower to <br /> declare its reasonable official intent to reimburse prior expenditures for the Project with <br /> proceeds of a subsequent borrowing, <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 finds and determines that the forgoing recitals and true and correct <br /> Section 2 This declaration is made solely for the purposes of establishing compliance with the <br /> requirements of Section 1 150-2 of the Treasury Regulations This declaration does not bind the <br /> City to make expenditure, incur indebtedness, or proceeds with the Project <br /> Section 3: The City hereby declares its official intent to use proceeds of the indebtedness to <br /> reimburse itself for Reimbursement Expenditures <br /> Section 4: This declaration shall take effect from and after its adoption <br /> Section 5: The City Clerk shall certify to the passage of this resolution and enter it into the book <br /> of original resolutions <br /> PASSED, APPROVED AND ADOPTED by the City Council of the City of Pleasanton at <br /> a regular meeting held on the 20th day of December, 2016 <br />