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8.A. - Page 3 of 51 <br />ANALYSIS <br />To date, approximately $658 million has been secured for capital projects. The table below shows the <br />largest sources of funds include $310 million from revenue bonds and $275 million from governmental <br />loans. <br />Bonds <br />2008 Wastewater Revenue Bonds' <br />2009 Wastewater Rev@n up Bonds' <br />2014 Wastewater Reuen Lie Bonds <br />2015 Wastewater Reuen Lie Bonds <br />2018 Wastewater Revenue Bonds <br />Subtotal - Bonds <br />Cash Co ntributions in lleu of Debt <br />Bel rn-ant <br />Redwood City <br />West Bays Sanitary District <br />Subtotal- Cash <br />Governawnt Loans <br />SWRC8 SRI` - Control Building <br />SWRCO SRF - WWTP Improvements <br />SWRCS SRF - Conveyance Plann Ing <br />U.S. EPA WI FIA /Notes - RESCU Progra m <br />Subtotal - Government Loans <br />Grant Funding <br />PG&E Cogeneration Grant <br />California Energy Commission <br />Subtotal - Grant Funding <br />MTAL <br />I Series 2008 and 2009 Bonds previoas?y refarrded <br />5M% <br />$ 10.01 <br />. <br />5.12% <br />55.86 <br />- <br />4.19% <br />65.54 <br />- <br />3.75% <br />.30.00 <br />- <br />3.43% <br />148.98 <br />15.02 <br />310.38 <br />15.02 <br />46.84 <br />2.22 <br />10.00 <br />- <br />13.02 <br />6.14 <br />69.85 <br />8.36 <br />2.606 <br />11.36 <br />- <br />1.80% <br />31.55 <br />- <br />1.60% <br />14.00 <br />- <br />2.40% <br />218.00 <br />82.71 <br />274.91 <br />82.71 <br />2.40 <br />0.32 <br />0.50 <br />- <br />2.90 <br />0.32 <br />$ 658.05 $ <br />145.41 <br />For several months, SVCW has been negotiating final terms and conditions with the SWRCB for an <br />additional $169 million SRF loan. This new SRF loan is anticipated to be at or below an interest rate of <br />1.10%, which is lower than what SVCW can obtain in the bond market. The State, however, has changed <br />its policy regarding SRF security requirements and is now requiring loan terms and conditions that will <br />require SVCW to refund outstanding revenue bonds when economically feasible, but with specific <br />deadlines. The State views current market conditions as economically feasible for refunding the 2014 <br />bonds and 2015 bonds. The State has set a refunding deadline of June 30, 2022 for these two bond issues. <br />Page 3 of 6 <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.ore <br />669 <br />