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RESOLUTION NO. 16-907 <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PLEASANTON MAKING <br /> DECLARATION OF OFFICIAL INTENT OF THE CITY OF PLEASANTON TO <br /> REIMBURSE CERTAIN EXPENDITURES OF THE DERWA EXPANSION PROJECT <br /> FROM PROCEEDS OF 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 <br /> correct <br /> SECTION 2 This declaration is made solely for the purposes of establishing compliance <br /> with the requirements of Section 1 150-2 of the Treasury Regulations This declaration does not <br /> bind the 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 <br /> indebtedness to reimburse itself for Reimbursement Expenditures <br /> SECTION 4: This declaration shall take effect from and after its adoption <br /> PASSED, APPROVED AND ADOPTED by the City Council of the City of Pleasanton at <br /> a regular meeting held on the December 20, 2016 <br /> I, Karen Diaz, City Clerk of the City of Pleasanton, California, certify that the foregoing <br /> resolution was adopted by the City Council at a regular meeting held on the 20th day of <br /> December, 2016 by the following vote <br /> Ayes Councilmembers Brown, Narum, Olson, Pentin, Mayor Thorne <br /> Noes None <br /> Absent None <br /> Abstain None <br />