AgdaPkt 2013-05-20 Closed Cancelled and Special

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Atta 7.A. - Page 42 (b) If the conditions described above are not met, then such Net Proceeds shall be applied to the prepayment of Installment Payments. THE AUTHORITY The Authority was established pursuant to a Joint Exercise of Powers Agreement, dated June 18, 1991 (the "JPA Agreement"), between the City and the Redevelopment Agency of the City of Redwood City. The JPA Agreement was entered into pursuant to the provisions of Articles 1 through 4 of Chapter 5 of Division 7 of Title 1 of the California Government Code. The members of the governing board of the Authority consist of the members of the City Council of the City. The Authority was formed for the purpose of implementing the construction, acquisition, maintenance and improvement of public facilities and infrastructure within the City. Among the powers expressly granted to the Authority is the power to acquire property and to borrow money to provide funds for the construction, acquisition, maintenance or improvement of public facilities and infrastructure and to issue in its name revenue bonds to evidence the indebtedness created by such borrowing. THE ENTERPRISE General Background The City is located in the southern portion of the County and, through the Enterprise, supplies water to the City, unincorporated areas of the County and portions of the City of San Carlos and the Town of Woodside. Operation and maintenance of the Enterprise is financed through the City's Water Enterprise Fund. The City is one of 28 Wholesale Customers in San Mateo, Santa Clara, and Alameda Counties which purchase water from the SFPUC. In 2009, the SFPUC and the Wholesale Customers entered into the WSA which replaced a prior agreement entered into in 1984. The WSA has a 25-year term (with provisions for two conditional five-year extensions). The City currently receives all of its potable water from the Regional Water System. Management The maintenance and operation of the Enterprise is the responsibility of the City's Community Development Department, Public Works Division ("Public Works"). The Assistant Public Works Director has responsibility for the Department and one of the two superintendents reporting to him has the responsibility of maintaining and operating the Enterprise. The Water Utilities Section is staffed by a Public Works Utility Superintendent along with two field supervisors, who manage the operations and maintenance of the water system including transmission, storage, distribution, meter reading, regulatory compliance sampling and analyses, cross-connection control, long-range planning and asset management/mapping. The Section has 25 employees involved in the Enterprise. The Engineering and Construction Division of the Community Development Department is responsible for the design and construction of water system projects, primarily system replacement, and regulatory compliance improvements. The Revenue Services Division of the Finance Department is responsible for all City utility billing and collections, as well as processing connection and facilities fees. Service Area The Enterprise serves most of the corporate area of the City and portions outside the corporate limits, including Canada College, portions of the City of San Carlos and the Town of -19-