BOARD AGENDA MEMORANDUM
Government Code ? 84308 Applies: Yes ? No ?
(If "YES" Complete Attachment A - Gov. Code ? 84308)
SUBJECT: Title
Adopt a Resolution Authorizing the Execution and Delivery of Corps Water Infrastructure Financing Program Master Agreements, Credit Agreements, Term Sheets and Certain Other Documents with Respect to the Water Utility, and Authorizing Certain Acts in Connection Therewith, to Obtain Loans of up to One Billion Dollars for Certain Water Enterprise Projects.
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RECOMMENDATION: Recommendation
A. Adopt the Resolution AUTHORIZING THE EXECUTION AND DELIVERY OF CORPS WATER INFRASTRUCTURE FINANCING PROGRAM MASTER AGREEMENTS, CREDIT AGREEMENTS, AND TERM SHEETS AND CERTAIN OTHER DOCUMENTS WITH RESPECT TO THE WATER UTILITY AND AUTHORIZING CERTAIN ACTS IN CONNECTION THEREWITH, to obtain loans of up to one billion dollars for certain Water Enterprise projects; and
B. Authorize and direct the Chief Executive Officer, the Chief Financial Officer (or any acting or interims of such positions), or their designees, (each an "Authorized Officer"), and such other officers and staff of the Santa Clara Valley Water District, acting singly to do any and all things, to execute and deliver any and all documents which such officers may deem necessary or advisable in order to consummate the execution and delivery of all the Corps Water Infrastructure Financing Program agreements, and the ongoing administration thereof.
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SUMMARY:
Board approval of staff recommendations will allow the Santa Clara Valley Water District (Valley Water) to implement the United States Army Corps Water Infrastructure Financing Program (CWIFP), to provide up to one billion dollars in funding for dam seismic stability projects, including the Almaden, Calero, Coyote, and Guadalupe dams (collectively, the "Dam Safety Program").
Board approval of the Resolution (Attachment 1) would authorize Valley Water to: (a) enter into a CWIFP Master Agreement under which up ...
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