Agmt09 San Francisco City and County of Water Sales Agreement

Browse Search

A TT ACHMENT L-2 03/13/06 $507,815,000 PUBLIC UTILITIES COMMISSION OF THE CITY AND COUNTY OFSAN FRANCISCO SAN FRANCiSCO WATER REVENUE BONDS, 2006 SERIES A $110,065,000 PUBLIC UTILITIES COMMISSION OF THE CITYAND COUNTY OF SAN FRANCISCO SAN FRANCISCO WATER REVENUE BONDS, 2006 REFUNDING SERIESB CERTIFICATE REGARDING USE OF PROCEEDS The undersigned hereby states and certifesas follows: (i) The undersigned is the General Manager of the Public Utiities Commission of the City and County of San Francisco (the "Commission"), and is authorized to execute this certificate on behalf of the Commission and is knowledgeable with respect to the matters set forth herein. (ii) On the date hereof, the Commission is issuing the two series of bonds captioned above (the "2006 Series A Bonds," the "2006 Refunding Series B Bonds" and, together, the "Bonds") pursuant to an Amended and Restated Indenture dated as of August 1, 2002 and the First Supplemental Indenture dated as of March 1, 2006 (collectively, the "Indenture"), both by and between the Commission and U.S. Bank National Association, as trustee (the "Trustee"). (iii) The Trustee wil transfer and deposit the proceeds of the 2006 Series A Bonds received by the Trustee on the date hereof as follows: (1) $48,212,528.32 will be deposited in the 2006 Series A Gapitalized Interest Account established within the Interest Fund; (2) $15,958,031.25 will be deposited in the 2006 Series A Reserve Account of the Bond Reserve Fund; (3) $623,906.09 will be deposited in the 2006 Series A Costs of Issuance Fund; (4) $120,622,352.19 will be deposited in the 2006 Series A Refunding Fund and transferred pursuant to Irrevocable Refunding Instructions of the Commíssion dated the date hereof; and (5) the remaining $338,600,816.86 wil be transferred to the Treasurer for deposit to the 2006 Senes A Project Fund. (iv) The proceeds of the 2006 Series A Bonds transferred pursuant to the Irrevocable Refunding Instructions of the Commission wil be used to defease and refund the Commission's Commercial Paper Notes (Water Series) on a current basis. The Notes were issued to finance a portion of the facilities described in Exhibit A hereto. (v) The proceeds of the Bonds deposited in the 2006 Series A Project Fund will be used to finance a portion of the facilties described in Exhibit A hereto.