AgdaPkt 2005-11-14 - Laserfiche WebLink

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6./ð-/ REPORT To the Public Financing Authority Board From the Executive Director November 14, 2005 Subject Appointment of financial advisor, bond counsel, and disclosure counsel to provide professional services in connection with the sale of bonds by the Redwood City Public Financing Authority. Recommendation In connection with the second sale of bonds to provide funding for the construction of the Redwood City Recycled Water Project, approve by motion the appointment of: . William Euphrat Municipal Finance, Inc. as financial advisor, . Nossaman, Guthner, Knox & Elliott as bond counsel, . Jones Hall as disclosure counsel, and authorizing the Public Financing Authority's (PFA) Finance Director to enter into professional service contracts for such services. Background In August 2003 the City Council approved a broadly defined flexible project, filed a California Environmental Quality Act Notice of Determination, and formed a citizen community task force to provide input on the implementation of the recycled water project. The Council charged the task force with the "goal to identify 1,946 acre-feet per year of potable water demand reductions by 2,010 in a financially feasible manner that avoids using recycled water at schoolyards, parks and playgrounds." The task force completed their work in March 2004 and unanimously recommended that the City implement an alternative that through a combination of recycled water use, replacement of natural turf playing fields with synthetic turf, continued use of groundwater at Sequoia High School, and additional water conservation programs achieves an estimated 2,002 acre-feet per year of potable water demand reductions. The City Council accepted the task force report and directed staff to return with various implementation actions for their consideration. The Redwood City Recycled Water Project ("Project") will be implemented in multiple phases over the next several years, beginning with some recycled water delivery in the 2006 irrigation season. The initial phases will include commercial portions of Redwood Shores and the Greater Bayfront area, with future expansion possible into central Redwood City. The major components of the Project are: . Treatment improvements consisting of filter modifications, a chemical feed addition, and filtered water lines at the South Bayside System Authority (SBSA) site - owned and operated by SBSA.