RES 15729 - Laserfiche WebLink

RESOLUTION NO. 15 -729 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PLEASANTON FOR PLEDGED REVENUES AND FUND(S) OF ALL WATER REVENUES FROM WATER MAINTENANCE AND OPERATING FUND (WATER M &O FUND) WITHIN WATER ENTERPRISE FOR REPAYMENT OF LOANED FUNDS THROUGH STATE WATER RESOURCES CONTROL BOARD FOR RECYCLED WATER PROJECT WHEREAS, the City of Pleasanton (the "City ") intends to pursue the development of a recycled water system using disinfected tertiary recycled water for uses as permitted by Title 22 of the Califomia Code of Regulations and the Califomia Water Code; and WHEREAS, the City is the legal authority that has authorized the Director of Operations Services, or his designee, to enter the City into a financial obligation agreement with the State Water Resources Control Board for such recycled water project; and WHEREAS, the City collects a recycled water surcharge on its current water rates and deposits these funds and other waste water revenue (collectively "Revenues ") in the Water Maintenance and Operations Fund (the "Water M &O Fund "). NOW, THEREFORE BE IT RESOLVED THAT THE CITY COUNCIL OF THE CITY OF PLEASANTON DOES RESOLVE, DECLARE, DETERMINE AND ORDER THE FOLLOWING: SECTION 1. The City of Pleasanton (the "Entity ") hereby dedicates and pledges all water revenues in the Water Maintenance and Operating Fund to payment of any and all Clean Water State Revolving Fund and /or Water Recycling Funding Program financing for the City of Pleasanton Recycled Water Project, Clean Water State Revolving Fund Project number 8024- 110) (the "Project ").The Entity commits to collecting such revenues and maintaining such fund(s) throughout the term of such financing and until the Entity has satisfied its repayment obligation thereunder unless modification or change is approved in writing by the State Water Resources Control Board. So long as the financing agreement(s) are outstanding, the Entity's pledge hereunder shall constitute a lien in favor of the State Water Resources Control Board on the foregoing fund(s) and revenue(s) without any further action necessary. So long as the financing agreement(s) are outstanding, the Entity commits to maintaining the fund(s) and revenue(s) at levels sufficient to meet its obligations under the financing agreement(s). PASSED, APPROVED AND ADOPTED by the City Council of the City of Pleasanton at a regular meeting held on January 20, 2015, I, Karen Diaz, City Clerk of the City of Pleasanton, California, do hereby certify that the foregoing resolution is a full, true and correct copy of a resolution duly and regularly adopted by the City Council of the City of Pleasanton at a regular meeting held on the 20th day of January, 2015 by the following vote: Ayes: Councilmembers Narum, Olson, Pentin, Vice Mayor Brown Noes: None Absent: Mayor Thorne Abstain: None