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(Castlewood) will pay $1.05 million in advance. The City would <br />still have remaining .96 MGD of uncommitted capacity equivalent <br />to 4,360 DUE. <br /> <br />To ensure that the preselling of the capacity produced the cash <br />flow desired, it would be necessary to attach the following <br />condition: <br /> <br /> Any capacity purchased in advance could <br /> not be connected to the system until the <br /> expansion projects were completed or <br /> until assurances that all cash flow <br /> requirements had been met. <br /> <br />This condition really accomplished two objectives: one, the <br />capacity is actually available to connect; and second, that <br />already projected revenues were not being reduced. <br /> <br />Suggested Procedure <br /> <br />Outlined below is the suggested procedure, including conditions <br />and restrictions, for the advance sale of 300,000 GPD of sewage <br />capacity: <br /> <br />1. Public Notice - <br /> A notice should be published that 300 GPD of sewage capacity <br /> is available for advance sale. <br /> <br />2. Eligibility to Purchase - <br /> Application to be taken from any property owners within ~he <br /> City of Pleasanton boundaries. Proof of property ownership <br /> required. <br /> <br />3. Restrictions and Limitations - <br /> a) Applications may not exceed 3,000 GPD per acre, however, <br /> no limit on number of acres. <br /> b) Capacity can be used on any portion of the land included <br /> in the application, but cannot be transferred to other <br /> property. <br /> c) Capacity cannot be sold to other private parties, but <br /> can be transferred to subsequent purchasers of the land. <br /> d) Purchases of advance capacity does not guarantee future <br /> approval of specific projects on the property for which <br /> capacity was purchased. <br /> <br />Page 3 <br />SR85:439 <br /> <br /> <br />