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FISCAL IMPACT <br />The Electric Utility has to make certain expenditures of utility funds prior to bond issuance to ensure that the <br />power project will be in service by July, 2003. Once the bond proceeds are available, these costs will be <br />reimbursed to the Electric Utility by approval of the attached resolution. <br />The debt service for the construction of the generating facility will be paid by existing rates and no increases are <br />expected as a result of the project or the issuance of additional debt. <br />ENVIRONMENTAL IMPACT <br />The EPC contract directs that the contractor will take out all required permits and licenses before actual <br />construction of the project. <br />RECOMMENDATION <br />It is recommended that the City Council approve Resolution CPFA-02- to reimburse certain expenditures from <br />the proceeds of the proposed Revenue Bond sale for the Colton Jets generation project. <br />Report Prepared by: Nitin Modi, Electrical Engineering Manager <br />