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7.1.F. - Page 1 <br /> REPORT <br /> To the Honorable Mayor and City Council <br /> From the City Manager <br /> January 27, 2014 <br /> SUBJECT <br /> 1. Resolution to approve related documents and official actions for 2014 wastewater <br /> revenue bonds <br /> 2. Amendment to the Financing Agreement dated December 1, 2008 between South <br /> Bayside System Authority (now known as Silicon Valley Clean Water) (SBSA) and <br /> Redwood City relating to the issuance of SBSA Wastewater Revenue Bonds and <br /> approval of a continuing Disclosure Certificate for such bonds <br /> RECOMMENDATION <br /> Adopt resolution authorizing <br /> 1. City Manager and Finance Director to affirm, and allow distribution of, Appendix A of <br /> the Preliminary Official Statement relating to the issuance of Silicon Valley Clean Water <br /> (formerly South Bayside System Authority) 2014 wastewater bonds; <br /> 2. The signing of a Continuing Disclosure Certificate which obligates the City to annually <br /> file a report containing certain operational and financial information relating to the City's <br /> wastewater system; and <br /> 3. The signing of an amendment to the Financing Agreement between SBSA and the <br /> City of Redwood City which amendment revises various definitions in Appendix A of the <br /> Financing Agreement to clarify that payments made by SBSA to the State Water <br /> Resources Control Board under SRF Loan program are not guaranteed by a pledge of <br /> the City's wastewater revenues. <br /> 1. BOND ISSUANCE <br /> The cities of Belmont, Redwood City and San Carlos and the West Bay Sanitary District <br /> entered into an agreement entitled the "Joint Exercise of Powers Agreement — South <br /> Bayside System Authority" on November 13, 1975. This Joint Exercise of Powers <br /> Agreement (JPA) grants Silicon Valley Clean Water (SVCW) legal authority to issue <br /> long-term debt and bill each member agency for their share of the indebtedness. <br /> In 2008, the Silicon Valley Clean Water Commission approved a 10-year Capital <br /> Improvements Program (CIP) of approximately $400 million (in future dollars) to make <br /> necessary improvements to its wastewater treatment facilities, which were built in the <br /> early 1980s and have come to the end of their useful life. On August 25, 2008 the City <br /> Council of the City of Redwood City unanimously adopted resolution number 14893, <br /> authorizing the signing of a financing agreement between SVCW and each member <br /> agency. <br /> Page 1 of 4 <br />