HomeMy WebLinkAboutRESO 9632160928 jb 6053826
Resolution No. 9632
Resolution of the Council of the City of Palo Alto Authorizing the Reimbursement
of Funding for the Regional Water Quality Control Plant Sludge Dewatering and
Loadout Facility Project from the State Water Resource Control Board
R E C I T A L S
A. The City of Palo Alto 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").
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).
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").
D. Prior to either the issuance of the Obligations or the approval by the State Water
Board of the Project Funds the City has incurred certain capital expenditures (the
"Expenditures") with respect to planning and design of the Project from available moneys of the
City.
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 $30,000,000.
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 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.
DocuSign Envelope ID: 70EF40F1-C9D8-4425-A7B6-967AE882649D
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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 taxexempt obligations have not been
issued.
SECTION 6. This resolution is adopted as official intent of the City in order to comply
with Treasury Regulation §1.1502 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: 70EF40F1-C9D8-4425-A7B6-967AE882649D
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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: October 17, 2016
AYES: BERMAN, BURT, DUBOIS, FILSETH, HOLMAN, KNISS, SCHARFF, SCHMID, WOLBACH
NOES:
ABSENT:
ABSTENTIONS:
ATTEST:
City Clerk Mayor
APPROVED AS TO FORM: APPROVED:
Senior Deputy City Attorney City Manager
Director of Public Works
Director of Administrative Services
DocuSign Envelope ID: 70EF40F1-C9D8-4425-A7B6-967AE882649D
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