HomeMy WebLinkAboutAgenda Report - August 15, 2001 E-19OF
�O1
C,
Fo�,ay
COUNCIL• •
AGENDA TITLE: Adopt Resolution Declaring the City of Lodi's Intent to Reimburse Certain
Expenditures from Proceeds of Indebtedness for the City's White Slough Water
Pollution Control Facility
MEETING DATE: August 15, 2001
PREPARED BY: Public Works Director
RECOMMENDED ACTION: Adopt resolution declaring the City of Lodi's intent to reimburse certain
expenditures from proceeds of indebtedness for the City's White Slough
Water Pollution Control Facility (WSWPCF).
BACKGROUND INFORMATION: The City of Lodi will soon enter into design phases for the expansion
of the WSWPCF. The project will include improvements to meet
State Regional Water Quality Control Board discharge requirements
and other infrastructure improvements. In order to recapture what
are deemed "reimbursable expenses" from future bond proceeds, it is necessary for the Council to adopt
a resolution declaring this intent. Typical reimbursable expenses include design, property acquisition,
and construction costs.
The resolution does not commit the City to make any expenditures, incur any indebtedness, or proceed
with the projects. The resolution simply provides the City with the ability to seek reimbursements for
already incurred and future costs should the City proceed with Certificates of Participation in the future.
This declaration is made solely for the purpose of establishing compliance with the requirements of
Section 1.150-2 of the Treasury Regulations.
FUNDING: Not applicable.
Richard C. Prima, Jr.
Public Works Director
Prepared by Sharon Blaufus, Management Analyst II
RCP/SB/lm
cc: Randy Hays, City Attorney
Fran Forkas, Water/Wastewater Superintendent
Del Kerlin, Assistant Wastewater Treatment Superintendent
APPROVED:
H. ixon Flynn -- City Manager
REIMBURSEWSWPCF 08!02/01
RESOLUTION NO. 2001-207
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LODI
DECLARING ITS INTENT TO REIMBURSE CERTAIN EXPENDITURES
FROM PROCEEDS OF INDEBTEDNESS (WHITE SLOUGH WATER
POLLUTION CONTROL FACILITY)
----------------------------------------------------------------
----------------------------------------------------------------
WHEREAS, the City of Lodi ("City") intends to expand the White Slough Water
Pollution Control Facility (WSWPCF), including improvements to meet State Regional Water
Quality Control Board discharge requirements and other infrastructure improvements to
accommodate anticipated increases in the waste flows; and
WHEREAS, the City expects to pay certain expenditures ("Reimbursement
Expenditures") in connection with the Project prior to the issuance of indebtedness for the
purpose of financing costs associated with the Project on a long-term basis; and
WHEREAS, the City reasonably expects that debt obligations in an amount not
expected to exceed $34,000,000 will be issued and that certain of the proceeds of such debt
obligations will be used to reimburse the Reimbursement Expenditures.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lodi that:
Section 1. City finds and determines that the foregoing recitals are true and correct.
Section 2. This declaration is made solely for purposes of establishing compliance
with the requirements of Section 1.150-2 of the Treasury Regulations.
This declaration does not bind City to make any expenditure, incur any
indebtedness, or proceed with the Project.
Section 3. City hereby declares its official intent to use proceeds of indebtedness to
reimburse itself for Reimbursement Expenditures.
Section 4. This resolution shall take effect from and after its adoption.
Dated: August 15, 2001
------------------------------------------------------------------------
------------------------------------------------------------------------
I hereby certify that Resolution No. 2001-207 was passed and adopted by the Lodi City
Council in a regular meeting held August 15, 2001 by the following vote:
AYES: COUNCIL MEMBERS — Hitchcock, Howard, Land, Pennino and Mayor
Nakanishi
NOES: COUNCIL MEMBERS — None
ABSENT: COUNCIL MEMBERS -- None
ABSTAIN: COUNCIL MEMBERS — None
7.
SUSAN J. BLACKS ON
City Clerk
2001-207