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8.A. - Page 2 of 51 <br />from inception to completion. To date, SVCW has incurred approximately $527 million of CIP expenditures <br />on projects that include replacement of leaking sections of forcemain, upgrades to treatment plant <br />processes, installation of energy solutions, and significant construction of Regional Environmental Sewer <br />Conveyance Upgrade (RESCU) assets. These projects enhance safety, reduce environmental risks, improve <br />reliability of treatment operations, and reduce electricity costs. <br />To date, SVCW and its members have funded the CIP with cash and debt. Sources of funds include State <br />Revolving Fund ("SRP') loans from the State Water Resources Control Board ("SWRCB" or "the State"), <br />Water Infrastructure Finance and Innovation Act ("WIFIA") Loans from the U.S. Environmental Protection <br />Agency, tax-exempt revenue bonds, cash funding, grants, and a line of credit. SVCW has incorporated <br />these funding sources into its annual Long -Range Finance Plan ("LRFP"), which measures the cost of <br />funding the CIP. Each year in January an updated LRFP is presented to member agencies in preparation <br />for their rate -setting efforts. <br />The resolution before the City Council will: <br />1. Consent to the issuance of the 2021 Wastewater Revenue Bonds by the Authority <br />2. Approve a Fourth Amendment to Financing Agreement between the Authority and the City <br />(Attachment B) <br />3. Approve the form of Continuing Disclosure Certificate to be delivered by the City with respect to <br />the 2021 Wastewater Revenue Bonds (Attachment C) <br />4. Deem substantially final the City Portion of Appendix A to the Preliminary Official Statement and <br />certain other portions relating to the City (Attachment D) <br />5. Authorize the Mayor, City Manager, Assistant City Manager/Administrative Services Director, <br />and the City Clerk, or their designees, to execute such necessary closing documents and all <br />actions as required relating to the 2021 Wastewater Revenue Bonds. <br />Page 2 of 6 <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.ore <br />668 <br />