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18-09
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Last modified
6/21/2016 12:37:59 PM
Creation date
10/7/2014 3:23:21 PM
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Resolutions
Number
18-09
Date
2009-03-26
Description
Authorizing the Filing of an Application for Financial Assistance to the State Water Resources Control Board and Anthorizing the City Manager to Sign and File the Application
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• • <br /> RESOLUTION NO. 18-0 9 <br /> A RESOLUTION OF THE CITY COUNCIL <br /> OF THE TOWN OF LOS ALTOS HILLS AUTHORIZING THE FILING OF AN <br /> APPLICATION FOR FINANCIAL ASSISTANCE TO THE STATE WATER <br /> RESOURCES CONTROL BOARD AND AUTHORIZING THE CITY <br /> MANAGER TO SIGN AND FILE THE APPLICATION <br /> WHEREAS,the Town of Los Altos Hills (the "Agency") desires to finance the <br /> costs of constructing and/or reconstructing certain public facilities and improvements <br /> relating to its water and wastewater system, including certain treatment facilities, <br /> pipelines and other infrastructure (the "Project"); and <br /> WHEREAS,the Agency intends to finance the construction and/or reconstruction <br /> of the Project or portions of the Project with moneys ("Project Funds") provided by the <br /> State of California, acting by and through the State Water Resources Control Board(State <br /> Water Board); and <br /> WHEREAS,the State Water Board may fund the Project Funds with proceeds <br /> from the sale of obligations the interest upon which is excluded from gross income for <br /> federal income tax purposes (the "Obligations"), and <br /> WHEREAS,prior to either the issuance of the Obligations or the approval by the <br /> State Water Board of the Project Funds the Agency desires to incur certain capital <br /> expenditures (the "Expenditures") with respect to the Project from available moneys of <br /> the Agency; and <br /> WHEREAS,the Agency has determined that those moneys to be advanced on <br /> and after the date hereof to pay the Expenditures are available only for a temporary <br /> period and it is necessary to reimburse the Agency for the Expenditures from the <br /> proceeds of the Obligations. <br /> NOW,THEREFORE,BE IT RESOLVED by the City Council of the Town of <br /> Los Altos Hills that the City Manager is hereby authorized and directed to sign and file, <br /> for and on behalf of the Town of Los Altos Hills, a Financial Assistance Application for a <br /> financing agreement from the State Water Resources Control Board for the planning, <br /> design, and construction of sewer lines; and <br /> BE IT RESOLVED that the Town of Los Altos Hills hereby agrees and further <br /> does authorize the aforementioned representative or his/her designee to certify that the <br /> Agency has and will comply with all applicable state and federal statutory and regulatory <br /> requirements related to any financing or financial assistance received from the State <br /> Water Resources Control Board; and <br />
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