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TONIGHT'S PROPOSAL <br />Prepay one outstanding State Water Resources Control Board Loan from 2011 <br />Outstanding <br />Principal = <br />$8.1 <br />million total (RWC share is $4.3 million) <br />Interest Rate <br />Reduction <br />from <br />2.6% to 1.2% <br />Avoids $398,000 payment due by City in June 2021 <br />City's Total Savings = $412,000, net present value of $364,000 <br />AM <br />Redwood <br />City <br />