HomeMy WebLinkAbout27-Water Department
~~TY:OF SAN BERNAh.JINO~REQUEST FO~. COUNCIL ACTION
Date:
February 6, 1990
i\EsJb.ect.G~utOrt:fi'nance authorizing West End
1. Wate~ Development, Treatment &
_.- "'"". L I
',~'.2 fD -e:'.Conservat ion . Joint Powers
Authority to issue Revenue Bonds
in an amount not to exceed
$75,000,000.
From:
Bernard C. Kersey, Secretary
Dept:
Board of Water Commissioners
Synopsis of Previous Council action:
Recommended for approval by Legislative
Review Committee 2-8-90
(
Recommended motion:
Adopt Ordinance
Contact person:
Bernard C. Kersey
Phone:
Supporting data attached:
Ward:
All
FUNDING REQUIREMENTS:
Amount:
Source: (Acct. No.)
(Acct. Description)
Finance:
Council Notes:
Agenda Item No ~ 7
CITY. OF SAN BERNA~..')INO - REQUEST FO~. COUNCIL ACTION
STAFF REPORT
The West End Water Development, Treatment, and Conservation Joint
Powers Authority was created for the purpose of developing water
related projects for the member agencies. Under the terms of the
Joi nt Powers Agreement, the Author i ty wi 11 issue Lease Revenue
Bonds for projects and lease the facilities back to the
participating member agencies.
The first project to be undertaken is the Lytle Creek Water
Treatment Plant. Each of the member agencies has a share of the
treatment plant capacity and shares in the capital financing and
operation costs in proportion to their respective interest in the
plant. Additionally, each of the member agencies have projects to
be financed that are not joint use projects that can be financed
through the Authority based upon project agreements.
Below is a listing of cost share calculations for the projects that
have been scheduled to be financed through the Authority.
mIAL
WEST
DISTRICT
Bl!Lm
SAN
BERNARDINO FONTANA
Lytl. creek wat.r tp $36.930.000 $15.108,000 $8,393,000 $5,036,000 $8,393,000
..t Di.t. boOSt.r p. 700,000 700 ,000
..t Di.t. baseline .xten. 900 ,000 900,000
Rialto pipeline 1,400,000 1,400,000
San Bernardino r..rvr.. 3.300 .000 3.300.000
Total $43,230,000 $16,708.000 $9,793,000 $8,338,000 $8,393.000
L... Fontana cash 11.393.000 11.393.000
AIIoUnt to be financed $34,837,000 $16,708,000 $9,793,000 $8,338,000 $0
Financing ahar.. 100.00s 47.96" 28.11" 23.93" O.OOS
Future projects under consideration include a water treatment plant
for San Bernardino in Devil Canyon.
The initial Lease Revenue Bonds are tentatively scheduled for sale
on April 13, 1990.
--
--
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
ORDINANCE NO.
ORDINANCE OF THE CITY OF SAN BERNARDINO AUTHORIZING THE WEST
END WATER DEVELOPMENT, TREATMENT AND CONSERVATION JOINT POWERS
AUTHORITY TO ISSUE REVENUE BONDS IN AN AMOUNT NOT TO EXCEED
$75,000,000.
WHEREAS, the West San Bernardino County Water District (the
"District"), the City of Rialto and the City of San Bernardino
acting by and through its Board of Water Commissioners entered into
a Joint Exercise of Powers Agreement dated as of the 21st day of
April, 1989 (the "Agreement") creating the West End Water
Development, Treatment and Conservation Joint Powers Authority,
(the "Authority") pursuant to the provisions of Article I, Chapter
5, Division 7, Title I of the Government Code of the State of
California (the "Act"); and
WHEREAS, the purpose of the Authority is to undertake projects
to develop and conserve water supplies; and
WHEREAS, the Authority proposes to construct the Lytle Creek
Water Treatment Plant and related water facilities as may from time
to time be approved by the Authority (the "Facilities") and lease
the Facilities to one or more of the members of the Authority; and
WHEREAS, in order to finance the acquisition of said
22 Facilities, the Authority desires to issue revenue bonds as
23 provided in the Act; and
24 WHEREAS, pursuant to Section 6547 and 6547.5 of the Government
25 Code of the State of Cal ifornia, the power of the Authority to
26 issue revenue bonds shall not be exercised until authorized by the
27 parties of the Joint Exercise of Powers Agreement that are
28 obligated to make payments to be applied to the payment of the
'1 In&. Inn
--
~
ORDINANCE AUTHOI LNG THE WEST END WATER DEVELOPh__.T, TREATMENT AND
CONSERVATION JOINT POWERS AUTHORITY TO ISSUE REVENUE BONDS IN AN AMOUNT NOT
TO EXCEED $75,000,000.
1 revenue bonds; and
2 NOW, THEREFORE, the Mayor and Common Council of the City of
3 San Bernardino DO ORDAIN as follows:
4
SECTION ONE:
The Authority is authorized to issue revenue
5 bonds in an amount not to exceed $75,000,000 for the purpose of
6 construct i ng and f i nanc i ng the Fac i 1 it i es.
The Authority will
7 lease the Facilities or components thereof to one or more of the
8 members of the Authority. The bonds are to be secured from, and
9 only from, lease payments to be made by the leasing members to the
10 Authority pursuant to lease agreements to be entered into by and
11 between the Authority and the respective members.
SECTION TWO:
This
Ordinance
sha 11
be
subject
the
to
12
13 provisions for referendum described in Sections 4050 et seQ. of the
14 Elections Code of the State of California.
15 SECTION THREE: Pursuant to Article IX of the Charter of the
16 City of San Bernardino, the lease of any Facilities constructed by
17 the Authority in which the City of San Bernardino agrees to
18 participate shall be through the Board of Water Commissioners and
19 be secured by the Water Fund.
20 I HEREBY CERTIFY that the foregoing Ordinance was duly adopted
21 by the Mayor and Common Council of the City of San Bernardino at
22 a meeting thereof, held on the
23 day of , 1990, by the following vote to wit:
24 III
25 III
26 III
27 III
28 III
2/06/90
-?-
-
--
ORDINANCE AUTHORI" 'G THE WEST END WATER DEVELOPME' TREATMENT AND
CONSERVATION JOIN~ ~OWERS AUTHORTIY TO ISSUE REVENu~ BONDS IN AN AMOUNT NOT
TO EXCEED $75,000,000
1 Counc i 1 Members: ~ ~ ABSTAIN
2 ESTRADA
3 REILLY
4 FLORES
5 MAUDSLEY
6 MINOR
7 POPE-LUDLAM
8 MILLER
9
10 SHAUNA CLARK, CITY CLERK
11
12 The foregoing Ordinance is hereby approved this day
13 of , 1990.
14
15
16
17
18 APPROVED AS TO FORM
AND LEGAL CONTENT:
19
JAMES F. PENMAN,
20 City Attorney
W.R. HOLCOMB, MAYOR
21
22
23
24
25
26
27
28
~
Attorney
2/06/90