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<br />A. Award of Contract - Master Water Meter Replacement Project (Redwood Shores <br />and Harborside Apartments). <br /> <br />Recommendation: <br />1. Approve, by motion, the contract documents and award the contract for <br />construction of the Master Water Meter Replacement Project (Redwood Shores <br />and Harborside Apartments) to the lowest responsible bidder, 0 & 0 Pipelines, <br />Inc. of San Francisco for their responsive and responsible low bid of $83,300 <br />and authorize the City Manager to increase the contract amount up to 100/0 if <br />necessary. Minute Order 09-223 <br />2. Authorize, by resolution, amendment to the budget for the Water Fund Capital <br />Projects fund to reflect an appropriation transfer of $40,000 from Distribution <br />System Replacement Program to Master Meter/Backflow Prevention. <br /> <br />RESOLUTION No. 14975 AMENDING THE REDWOOD CITY BUDGET FOR FISCAL <br />YEAR 2009-2010 BY TRANSFERRING $40,000 FROM THE "WATER FUND CAPITAL <br />PROJECTS - DISTRIBUTION SYSTEM REPLACEMENT PROGRAM" ACCOUNT INTO <br />THE "WATER FUND CAPITAL PROJECTS - MASTER METERlBACKFLOW <br />PREVENTION" ACCOUNT <br /> <br />6.3 Section - Claims and Warrants <br /> <br />A. Approve warrants dated through October 19, 2009 and usual and necessary <br />payments through October 26,2009. <br /> <br />Minute Order 09-224 <br /> <br />.................................................................................. <br /> <br />7. STAFF REPORTS <br /> <br />A. Proposition 1A Securitization Program. <br /> <br />Recommendation: <br />Approve, by resolution, the proposed Proposition 1A Purchase and Sale <br />Agreement in order to participate in the Proposition 1A Securitization Program. <br /> <br />RESOLUTION No. 14976 APPROVING THE FORM OF AND AUTHORIZING THE <br />EXECUTION AND DELIVERY OF A PURCHASE AND SALE AGREEMENT AND <br />RELATED DOCUMENTS WITH RESPECT TO THE SALE OF SELLER'S PROPOSITION <br />1A RECEIVABLE FROM THE STATE; AND DIRECTING AND AUTHORIZING CERTAIN <br />OTHER ACTIONS IN CONNECTION THEREWITH <br /> <br />Mr. Ponty, Finance Director, gave a brief update on Proposition 1A "Securitization <br />Program" and how it had passed in Sacramento with a 37-0 vote and is now on the <br />Governor's desk. He provided an overview of what that program entails (presentation on <br />file). He added that this is intended to be a non-recourse obligation and should the state <br />not repay its obligation to the bond holders, local governments are not expected to be <br />responsible. He added that staff would recommend that if the securitization program gets <br />approved the Council then adopt "Package 1" and if the securitization program does not <br />proceed then approve Packets 1 through 4. <br /> <br />JOINT CITY COUNCIL/REDEVELOPMENT AGENCY BOARD <br />MEETING MINUTES <br /> <br />OCTOBER 19, 2009 <br />PAGE 3 <br />