HomeMy WebLinkAboutRESO 10205Resolution No. 10205
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.
F. On November 18, 2019, the City Council adopted Resolution No. 9868
authorizing reimbursement of funding for the AWPS 1 MGD Project with a reasonably
expected maximum principal amount of $22 million.
G. The estimated capital cost for the AWPS 1 MGD Project is $66.8 million based
on the project’s revised 100% design.
H. The City now wishes to amend Resolution No. 9868 and adopt this Resolution
increasing the reasonably expected maximum principal amount to $66.8 million.
Docusign Envelope ID: C4F133F5-3FA9-49A7-88A3-BD3F6424EA2F
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 City hereby amends Resolution NO. 9868 to increase the
reasonably expected maximum principal amount of the Project Funds to $66.8 million.
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.
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.
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: DECEMBER 16, 2024
AYES: BURT, KOU, LAUING, LYTHCOTT-HAIMS, STONE, TANAKA, VEENKER
NOES:
ABSENT:
Docusign Envelope ID: C4F133F5-3FA9-49A7-88A3-BD3F6424EA2F
ABSTENTIONS:
ATTEST:
City Clerk Mayor
APPROVED AS TO FORM: APPROVED:
Senior Deputy City Attorney City Manager
Director of Public Works
Docusign Envelope ID: C4F133F5-3FA9-49A7-88A3-BD3F6424EA2F
Certificate Of Completion
Envelope Id: C4F133F5-3FA9-49A7-88A3-BD3F6424EA2F Status: Completed
Subject: RESO 10205 - Reimbursement of Funding for Advanced Water Purification System
Source Envelope:
Document Pages: 3 Signatures: 5 Envelope Originator:
Certificate Pages: 2 Initials: 0 Christine Prior
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Time Zone: (UTC-08:00) Pacific Time (US & Canada)
250 Hamilton Ave
Palo Alto , CA 94301
Christine.Prior@CityofPaloAlto.org
IP Address: 199.33.32.254
Record Tracking
Status: Original
12/19/2024 4:13:42 PM
Holder: Christine Prior
Christine.Prior@CityofPaloAlto.org
Location: DocuSign
Security Appliance Status: Connected Pool: StateLocal
Storage Appliance Status: Connected Pool: City of Palo Alto Location: DocuSign
Signer Events Signature Timestamp
Caio Arellano
Caio.Arellano@CityofPaloAlto.org
Chief Assistant City Attorney
City of Palo Alto
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Signed: 12/23/2024 9:31:45 AM
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Brad Eggleston
Brad.Eggleston@CityofPaloAlto.org
Director of Public Works
City of Palo Alto
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Signed using mobile
Sent: 12/23/2024 9:31:47 AM
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Signed: 12/23/2024 10:50:28 AM
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Ed Shikada
Ed.Shikada@CityofPaloAlto.org
Ed Shikada
City of Palo Alto
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Greer Stone
Greer.Stone@CityofPaloAlto.org
Vice Mayor
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Sent: 12/23/2024 4:23:34 PM
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Signed: 12/24/2024 9:05:41 AM
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Signer Events Signature Timestamp
Mahealani Ah Yun
Mahealani.AhYun@CityofPaloAlto.org
City Clerk
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Sent: 12/24/2024 9:05:43 AM
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Diego Martinez Garcia
Diego.MartinezGarcia@CityofPaloAlto.org
Engineer
City of Palo Alto
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Sent: 1/2/2025 7:36:45 AM
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Envelope Summary Events Status Timestamps
Envelope Sent Hashed/Encrypted 12/19/2024 4:18:14 PM
Envelope Updated Security Checked 12/20/2024 10:10:05 AM
Certified Delivered Security Checked 1/2/2025 7:36:28 AM
Signing Complete Security Checked 1/2/2025 7:36:44 AM
Completed Security Checked 1/2/2025 7:36:45 AM
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