RES 211234 - Laserfiche WebLink

RESOLUTION NO. 21-1234 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PLEASANTON APPROVING A SEWER REVENUE BOND REFINANCING BY THE LIVERMORE- AMADOR VALLEY WATER MANAGEMENT AGENCY, AUTHORIZING EXECUTION OF A SECOND AMENDED AND RESTATED SEWER SERVICE CONTRACT, AND AUTHORIZING RELATED DOCUMENTS AND ACTIONS WHEREAS, the Livermore-Amador Valley Water Management Agency ("LAVWMA") is a joint exercise of powers agency duly organized and existing under and pursuant to that certain Amended and Restated Joint Exercise of Powers Agreement, entered into on September 10, 1997, by and among the Dublin San Ramon Services District ("DSRSD"), the City of Pleasanton ("Pleasanton") and the City of Livermore ("Livermore"), and under the provisions of Articles 1 through 4 (commencing with Section 6500) of Chapter 5 of Division 7 of Title 1 of the California Government Code (the "Act"), and is authorized pursuant to Article 4 (commencing with Section 6584) of the Act to issue revenue bonds to finance facilities for the receipt, transport and disposal of treated wastewater; and WHEREAS, DSRSD, Pleasanton and Livermore are sometimes collectively referred to herein as the "Members"; and WHEREAS, LAVWMA acquired and constructed facilities for the receipt, transport and disposal 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"); and WHEREAS, in order to complete such financing, LAVWMA required the Members to agree to pay certain minimum payments for wastewater service to be provided by LAVWMA, as provided in that certain Sewer Service Contract, dated as of March 1, 2001, among LAVWMA and the Members (the "2001 Sewer Service Contract"); and WHEREAS, subsequently, in order to achieve interest savings, LAVWMA caused the issuance of its $105,345,000 Livermore-Amador Valley Water Management Agency 2011 Sewer Revenue Refunding Bonds (the "2011 Bonds") for the purpose of refunding the 2001 Bonds; and WHEREAS, in connection with the issuance of the 2011 Bonds, LAVWMA and the Members entered into that certain Amended and Restated Sewer Service Contract, dated as of October 1, 2011 (the "2011 Sewer Service Contract"); and WHEREAS, the 2011 Bonds maturing on or after August 1, 2022, are subject to redemption prior to their respective maturity dates, at the option of the LAVWMA, as a whole or in part on any date on or after August 1, 2021, from any source of available funds, at a redemption price equal to the principal amount of the 2011 Bonds to be redeemed, plus accrued interest to the redemption date, without premium; and WHEREAS, LAVWMA has determined that interest savings will be achieved if the 2011 Bonds are refunded through the issuance of its 2021 Sewer Revenue Refunding Bonds(the"2021 Bonds") under Articles 10 and 11 of Chapter 3 of Part 1 of Division 2 of Title 5 of the California