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RESOLUTION NO. 10761 (2016 SERIES) <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN LUIS <br />OBISPO, CALIFORNIA, AUTHORIZING THE REIMBURSEMENT TO <br />THE STATE WATER RESOURCES CONTROL BOARD FOR THE <br />FINANCING OF THE WATER RESOURCE RECOVERY FACILITY <br />UPGRADE <br />WHEREAS, the City of San Luis Obispo desires to finance the cost of the construction of <br />the Water Resource Recovery Facility Upgrade (the "Project"); and <br />WHEREAS, the City of San Luis Obispo intends to finance the construction of the Project <br />with moneys ("Project Funds") provided by the State of California, acting by and through the State <br />Water Resources Control Board (State Water Board); and. <br />WHEREAS, the State Water Board may fund the Project Funds with proceeds from the <br />sale of obligations the interest upon which is excluded from gross income for federal income tax <br />purposes (the "Obligations"); and <br />WHEREAS, prior to either the issuance of the Obligations or the approval by the State <br />Water Board of the Project Funds the City of San Luis Obispo desires to incur certain capital <br />expenditures (the "Expenditures") with respect to the Project from available moneys of the City of <br />San Luis Obispo. <br />NOW, THEREFORE, BE IT RESOLVED, by the Council of the City of San Luis <br />Obispo as follows: <br />SECTION 1. The Director of Utilities or her designee is hereby authorized and directed to <br />sign and file, for and on behalf of the City of San Luis Obispo, a Financial Assistance Application <br />for a financing agreement from the State Water Resources Control Board for the construction of <br />the Water Resources Recovery Facility (the "Project"). <br />SECTION 2. This Authorized Representative, or her designee, is designated to provide <br />the assurance, certifications, and commitments required for the financial assistance application, <br />including executing a financial assistance agreement from the State Water Resources Control <br />Board and any amendments or changes thereto. <br />SECTION 3. The Authorized Representative or her designee, is designated to represent <br />the City of San Luis Obispo in carrying out the City's responsibilities under the financing <br />agreement, including certifying disbursement requests on behalf of the City of San Luis Obispo <br />and compliance with applicable state and federal laws. <br />R 10761 <br />