HomeMy WebLinkAbout2000-10-03; Municipal Water District; Resolution 10996
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RESOLUTION NO. log9
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE CARLSBAD MUNICIPAL WATER DISTRICT TO APPROVE AND AUTHORIZE DEDICATION OF A REVENUE SOURCE FOR THE
CARLSBAD MUNICIPAL WATER DISTRICT’S REPAYMENT OF THE
CALIFORNIA STATE WATER RESOURCES CONTROL BOARD LOAN, AND DEDICATION OF A CAPITAL RESERVE FUND FOR THE ENCINA
BASIN WATER RECLAMATION PROGRAM, PHASE II PROJECT.
WHEREAS, the Board of Directors of the Carlsbad Municipal Water District has
authorized the Executive Manager, or his designee, to apply for a State Revolving Fund (SRF)
loan to fund all or a portion of the cost of expansion and improvement of the wastewater
treatment facilities; and
WHEREAS, the Carlsbad Municipal Water District (District) has authorized an application
for a loan from the California State Water Resources Control Board’s Water Recycling
Construction Program, State Revolving Fund Loan Program, and/or the Local Match
(Zero-Percent Interest Rate) Loan Program (collectively, the Loan) for the purpose of financing
the Encina Basin Water Reclamation Program, Phase II Project (Phase II); and
WHEREAS, prior to issuance of a contract or contracts for the Loan, the District as the
Loan recipient is required to adopt a resolution dedicating a source of funds for the repayment of
the Loan; and
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Carlsbad
Municipal Water District (CMWD) of the City of Carlsbad, California, as follows:
1. That the above recitations are true and correct.
2. That the District hereby dedicates the Recvcled Water Rate Fund, and if
insufficient, the Water Replacement Fund to repayment of any and all State Revolving Fund
loans on the Phase II Project. This dedicated source of revenue shall remain in effect until the
loan is fully discharged unless modification or change of such dedication is approved in writing by
the State Water Resources Control Board.
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1 3. That a dedicated Wastewater Capital Reserve Fund shall be established for future
2 expansion, major repair or replacement costs, upon execution of a contract with the State, with
3 the minimum dedication of 0.5 percent per year times the capital facilities cost of the Phase II
4 Project for 10 years or the equivalent thereof until the loan is fully discharged.
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6 PASSED, APPROVED AND ADOPTED at a special meeting of the Carlsbad Municipal
7 Water District held on the 3rd day of October , 2000 by the following vote, to wit:
8 AYES: Council Members Lewis, Finnila, Nygaard and Kulchin
9 NOES: None
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(SEAL)