AgdaPkt 2002-03-25 - Laserfiche WebLink

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The 26 public entities. Alameda County Water District, City of Brisbane, City of Burlin- game, Coastside County Water District, City of Daly City, City of East Palo Alto, Estero Mu- nicipal Improvement District, Guadalupe Valley Municipal Improvement District, City of Hayward, Town of Hillsborough, Los Trancos County Water District, City of Menlo Park, Mid-Peninsula Water District, City of Millbrae, City of Milpitas, City of Mountain View, North Coast County Water District, City of Palo Alto, Purissima Hills Water District, City of Red- wood City, City of San Bruno, City of San Jose, City of Santa Clara, Skyline County Water District, City of Sunnyvale, and Westborough Water District. The a.qency. The agency would be a political subdivision of the state and a water district under the Raker Act. The agency shall be governed by a board of directors with one mem- ber appointed by each member public entity. The Board of Supervisors of San Mateo County shall appoint to the agency's board an officer or employee of California Water Ser- vice Company. The Board of Supervisors of Santa Clara County shall appoint to the agency's board an officer or employee of Stanford University. Each director has one vote. The a.qenc¥'s powers. The agency may make contracts of any nature and contract with the United States, the state, a public or private entity or a person. It may apply for and re- ceive state and federal financial assistance. Financial matters. The agency may borrow money and issue notes and bonds, including revenue bonds without the approval of voters, to fund projects to improve the reliability of the regional water system. Under specified conditions, the agency may provide the pro- ceeds of revenue bonds directly to the City to improve the reliability of the San Francisco regional water system. Funding projects through the agency would off-set revenues the City would otherwise collect though water rates under the existing Master Water Sales Con- tract. Specified conditions. These conditions include identifying specific projects for which the proceeds are to be used; having authority to oversee and audit disposition of the funds; in- specting construction of projects; and having access to information on the expenditure of bond funds. City of San Francisco membership. The City may ask to become a member of the agency subject to approval by the agency's board of directors, provided the City meets cer- tain other requirements. (The Bay Area Water Users Association prepared this summary. For more precise and complete information about the provisions of SB 1870, please read the bill.) 03/15/2002 12:55 PM