HomeMy WebLinkAboutRESO 98681
Resolution No. 9868
Resolution of the Council of the City of Palo Alto Authorizing the
Reimbursement of Funding for the Advanced Water Purification System
(AWPS) 1 MGD Project from the State Water Resource Control Board
R E C I T A L S
A. The City of Palo Alto (the “City”) desires to finance the costs of constructing
and/or reconstructing certain public facilities and improvements relating to its water and
wastewater system, including certain treatment facilities, pipelines and other infrastructure
(the "Project"); and
B. The City intends to finance the construction and/or reconstruction of the
Project or portions of the Project with moneys ("Project Funds") provided by the State of
California, acting by and through the State Water Resources Control Board (State Water
Board); and
C. The State Water Board may fund the Project Funds with proceeds from the
sale of obligations the interest upon which is excluded from gross income for federal
income tax purposes (the "Obligations"); and
D. Prior to either the issuance of the Obligations or the approval by the State
Water Board of the Project Funds the City desires to incur certain capital expenditures (the
"Expenditures") with respect to the Project from available moneys of the City; and
E. The City has determined that those moneys to be advanced on and after the
date hereof to pay the Expenditures are available only for a temporary period and it is
necessary for the State Water Board to reimburse the City for the Expenditures from the
proceeds of the Obligations.
NOW, THEREFORE, the Council of the City of Palo Alto RESOLVES as follows:
SECTION 1. The City hereby states its intention and reasonably expects to
reimburse Expenditures paid prior to the issuance of the Obligations or the approval by
the State Water Board of the Project Funds.
SECTION 2. The reasonably expected maximum principal amount of the Project
Funds is $22,000,000.
SECTION 3. This resolution is being adopted no later than 60 days after the date
on which the City will expend moneys for the construction portion of the Project costs to
DocuSign Envelope ID: CC116083-2068-4ABA-85DA-FDADC20AC68A
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be reimbursed with Project Funds.
SECTION 4. Each City expenditure will be of a type properly chargeable to a capital
account under general federal income tax principles.
SECTION 5. To the best of our knowledge, the City is not aware of the previous
adoption of official intents by the City that have been made as a matter of course for
the purpose of reimbursing expenditures and for which tax-exempt obligations have
not been issued.
SECTION 6. This resolution is adopted as official intent of the City in order to
comply with Treasury Regulation §1.150-2 and any other regulations of the Internal
Revenue Service relating to the qualification for reimbursement of Project costs.
SECTION 7. All the recitals in this Resolution are true and correct and this City so
finds, determines and represents.
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DocuSign Envelope ID: CC116083-2068-4ABA-85DA-FDADC20AC68A
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SECTION 8. The Council finds that its authorization of funding reimbursement does
not constitute a project requiring review under the California Environmental Quality Act
(CEQA) or CEQA Guidelines. This action does not meet the definition of a project under Public
Resources Code Section 21065 and CEQA Guidelines Section 15378(b)(5), because it is an
administrative governmental activity which will not cause a direct or indirect physical change
in the environment.
INTRODUCED AND PASSED: November 18, 2019
AYES: CORMACK, DUBOIS, FILSETH, KNISS, KOU, TANAKA
NOES:
ABSENT: FINE
ABSTENTIONS:
ATTEST:
City Clerk Mayor
APPROVED AS TO FORM: APPROVED:
Assistant City Attorney City Manager
Director of Public Works
DocuSign Envelope ID: CC116083-2068-4ABA-85DA-FDADC20AC68A
Certificate Of Completion
Envelope Id: CC11608320684ABA85DAFDADC20AC68A Status: Completed
Subject: Please DocuSign: RESO 9868 F4 Reimbursement Resolution AWPS.docx
Source Envelope:
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Certificate Pages: 2 Initials: 0 Kim Lunt
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250 Hamilton Ave
Palo Alto , CA 94301
kimberly.lunt@cityofpaloalto.org
IP Address: 12.220.157.20
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12/3/2019 9:40:55 AM
Holder: Kim Lunt
kimberly.lunt@cityofpaloalto.org
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Sandra Lee
Sandra.Lee@CityofPaloAlto.org
Assistant City Attorney
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Brad Eggleston
brad.eggleston@cityofpaloalto.org
Assistant Director Public Works
City of Palo Alto
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Ed Shikada
ed.shikada@cityofpaloalto.org
Ed Shikada, City Manager
City of Palo Alto
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Eric Filseth
eric.filseth@cityofpaloalto.org
Mayor
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Beth Minor
Beth.Minor@CityofPaloAlto.org
City Clerk
City of Palo Alto
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Samantha Engelage
Samantha.Engelage@CityofPaloAlto.org
Engineer
City of Palo Alto
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