HomeMy WebLinkAbout09-17-2013 ag padilla�..councjl mEmottandum
city of san luis osispo, finance ana i.t. aepaitment
DATE: September 13, 2013
TO: Mayor & Council Members
VIA: Katie Lichtig, City Manager @ -�.r
FROM: Wayne Padilla, Director of Finance and I.T. WP
SUBJECT: Agenda Correspondence related to September 17, 2013 Agenda Items B2 & B3
Staff is requesting the continuance of the agenda items referenced above to a future date. Both
items are related to the Financing Proposal for the Water Reclamation Facility that the City
Council approved at the September 3rd meeting. Earlier this week staff learned that Green
Campus Partners is unable to provide the financing at the interest rate that had been specified in
their financing proposal. In response, city staff along with the city's Financial Advisor and Bond
Counsel, have been working to negotiate a new financing proposal but are not able to complete
the review of the legal documents in time for this matter to be considered by the City Council
next week.
Once the legal documents have been fully reviewed and are complete, staff will place this item
on a future agenda for the City Council and Capital Improvement Board's consideration.
Please contact me with any questions or concerns you may have by calling me at 781 -7125 or by
e -mail to wpadilla @slocity.org