HomeMy WebLinkAbout2000-10-03; Municipal Water District; Resolution 11013
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RESOLUTION NO. 11o1
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE CARLSBAD MUNICIPAL WATER DISTRICT TO APPROVE AND
AUTHORIZE APPLICATION FOR CALIFORNIA WATEREUSE
FINANCE AUTHORITY’S VARIABLE RATE BORROWING PROGRAM FOR ENCINA BASIN WATER RECLAMATION PROGRAM, PHASE II PROJECT.
WHEREAS, the Encina Basin Water Reclamation Program, Phase II Project (Phase II) is
proposed to be funded in part through a loan and/or grant from the California State Water
Resources Control Board; and
WHEREAS, loan funds are issued during construction of the Phase II Project through
approval of progress payments by the California State Water Resources Control Board; and
WHEREAS, a loan from the California State WateReuse Authority can be used to provide
funding for construction of the Phase II Project on an interim basis until funds from the California
State Water Resources Control Board are received; and
WHEREAS, the loan from the California State WateReuse Authority can be paid back at
any time.
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Carlsbad
Municipal Water District of the City of Carlsbad, California, as follows:
1. That the above recitations are true and correct.
2. That the Executive Manager or his designee is authorized to submit an application
to the California WateReuse Finance Authority to obtain a variable rate loan to pay for initial
construction
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costs of the Phase II Project in an amount not-to-exceed $15,000,000.
1 3. That the final loan contract shall be submitted to the Board of Directors for final
2 approval prior to execution of the loan contract.
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4 PASSED, APPROVED AND ADOPTED at a special meeting of the Carlsbad Municipal
Water District held on the 3rd day of October ,200O by the following vote, to wit: 5
AYES: Council Members Lewis, Finnila
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I Nygaard and Kulchin
(SEAL)