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r-1- <br />iTeIRFMAN <br />INTER -AGENCY LOAN AGREEMENT <br />(Town of Woodside) <br />THIS INT -AGENCY LOAN AGREEMENT ("Agreement") is entered into this <br />�th day of, 2017 (the "Effective Date'), by and between the TOWN OF <br />WOODSIDE, a municipa corporation ("Woodside"), and the CITY OF REDWOOD CITY, a <br />mtmicipal corporation ("City"). Woodside and the City are hereinafter referred to collectively as <br />the "Parties". <br />RECITALS <br />A. The City is one of four member agencies of Silicon Valley Clean Water (SVCW), a <br />regional joint powers authority that provides wastewater conveyance and treatment <br />services to its members. <br />B. The City conveys wastewater from a portion of Woodside, the Woodside Town Center <br />Sewer Assessment District (TCSAD), through the City's sewer system to SVCW. <br />C. Woodside is responsible for funding Woodside TCSAD's share of SVCW operating, debt <br />service, and capital program costs indirectly via payments to the City, which is governed <br />by a separate agreement between the Parties. <br />D. Under the terms of that separate agreement between the Parties, Woodside is billed based <br />on Woodside TCSAD's share of the total wastewater flow conveyed from the City to <br />SVCW multiplied by the City's total SVCW expenditures. <br />E. In late 2015, the City contributed Ten Million Dollars ($10,000,000) to SVCW to fund <br />the City's share of SVCW capital improvement costs, plus an additional Seven Hundred <br />Twenty-eight Thousand Eight Hundred Sixty-nine Dollars ($728,869) to reimburse <br />SVCW for repairs to the City's SVCW pump station. <br />F. The City desires to collect Woodside TCSAD's share of the City's Ten Million Seven <br />Hundred Twenty-eight Thousand Eight Hundred Sixty-nine Dollar ($10,728,869) <br />investment towards SVCW improvements and repairs, calculated using Woodside <br />TCSAD's historical share of 0.55% of City's total wastewater flow to SVCW, which <br />amounts to Fifty-nine Thousand Dollars ($59,000). <br />G. The Parties desire to enter this Agreement to allow Woodside to repay Woodside <br />TCSAD's portion of the City's cash payment over a period of up to ten (10) years. <br />REV: 02-17-17 EI <br />Page 1 of 6 <br />ATTY/AGR.2017.038/Town of Woodside - Inter -agency Loan Agreement <br />