AgdaPkt 2007-02-12 - Laserfiche WebLink

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6.1 B , , : 1 � � �� , , ; , _ ; ' To #he Publ�c F�nancin� J�uthor�ty B4ar.d' From #he E�ecu#EVe D�rector. February 12, 2007 Subject Appointment of financia! advis�r, bond counsel, and disclosure counsef to provide professional services in connection with the sale of bonds by the Redwood City Pubfic Financing Authority. Recommendation In connection with the third sale of bonds to provide additionaf funding for the construction of the Redwood City Recycled Water Project; 1. By motion, approve the appointment of: • William Euphrat Municipal Finance, Inc. as financial advisar; • Nossaman, Guthner, Knox & Elliott as bond counsel; • Jones Hall as disclosure counsel. 2. Authorize the Public Financing Aufhority's (PFA) Finance Director to enter into professional service agreements for such services. Background In August 2003 the City Council approved a broadly defined flexible project, filed a Califamia 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 2010 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 cambination 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 consideratian. The Redwood City Recycled Wa#er Project ("Project") is being canstructed in multiple phases and delivery to customers will begin in the spring of 2007. The major components of the Project are: • Treatment improvements consisting of filter modifications, a chemical feed addi#ion, and filtered water lines at the South Bayside System Authority(SBSA)site—owned and operated by SBSA. • Disinfection facility consisting of a new chlorine contact chamber at the SBSA site— owned by Redwaod City, operated by SBSA. • Storage and pumping facilities located inside the SBSA plant property(incfudes a back-up supply line for potable water)—owned and operated by City of Redwood City. 1 _