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Res18 15642
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Res18 15642
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Last modified
10/11/2019 7:57:47 AM
Creation date
10/11/2019 7:57:38 AM
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Template:
CC Index
CC Index - Document Type
Resolution
Meeting Type
Joint
Agency Type
City Council and Successor Agency and Public Financing Authority
Date
1/22/2018
Description
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD CITY APPROVING DOCUMENTS AND ACTIONS RELATING TO SILICON VALLEY CLEAN WATER 2018 WASTEWATER REVENUE BONDS
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The City anticipates financing most of its remaining allocable share of costs for the <br />Authority's capital improvement plan, equal to approximately $289.6 million from Fiscal Year 2017- <br />2018 through Fiscal Year 2024-25. The City anticipates financing these costs through long-term <br />debt issued by the Authority. <br />Sewer Utility System Finances <br />The City's water and sewer utilities are accounted for as separate enterprise funds. Sewer <br />enterprise operations and capital improvements are funded predominantly by sewer service <br />charges supplemented by interest earnings, capacity fees, and other miscellaneous revenues. <br />Outstanding Sewer Utility Debt <br />The City incurred obligations in connection with the issuance by the Authority of the 2009 <br />Bonds, the 2014 Bonds, the 2015 Bonds, SRF Loans, and the Line of Credit, as described in "THE <br />AUTHORITY AND THE WASTEWATER SYSTEM — Outstanding Debt". The City's payment <br />obligations to the Authority with respect to the SRF Loans and the Line of Credit are payable from <br />Net Revenues on an unsecured basis. <br />A-10 <br />
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