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Colton/San Bernardino Tertiary Treatment Plant April 9, 1990 Page two at no f inancing obligation to itself ; the cities agree to pay their respective shares of SAWPA's debt payments; and San Bernardino will be responsible for operating the facilities. PROJECT STATUS The demonstration project is currently under design, with the 90 percent design submittal expected from the engineers on April 19 and final design completed by May 15. Construction is scheduled to begin about August 1 and be completed about January 1, 1991. The project is being administered by SAWPA, through its Project Committee 10 and Gordon Magnuson, project manager. A Board of Control, consisting of representatives of San Bernardino and Colton and SAWPA's project manager, was created in October 1989 to supersede earlier committees dealing with the project, which also included representatives of the two cities. SAWPA's role as the Project Administrator came as a result of a request from the San Bernardino Valley Municipal Water District, the SAWPA member in whose territory the Project is located, that SAWPA assume this responsibility. FINANCING SCHEDULE SAWPA has been working toward financing this project since adoption of the financing plan by all parties in 1988. This official statement and legal documents necessary for the sale of SAWPA bonds are being prepared by SAWPA's consultants. The bond sale is scheduled for June 12. A�opy of the detailed schedule of activities is attached. For a sale on June 12, SAWPA's Commission must consider approval of the necessary bond issuance documents at its May meeting. These documents include leases with the cities of San Bernardino and Colton which will provide the source of funds for debt service. These leases will also come to the cities in mid-May for approval. SAWPA is requesting that the Colton City Council and San Bernardino Water Board reconfirm their intention to proceed with the project construction and financing at this time. The latest estimate of project costs is about $8.1 million, which will result in a total bond issue of $9 to $10 million. Annual payments are estimated at $1 million, of which 75 percent ($750,000) will be paid by the City of San Bernardino and 25 percent ($250,000) will be paid by the City of Colton. Actual debt service costs for each city will be known following the sale of SAWPA's bonds on June 12. SAIVTA ANA Ir'ATERSHED PROJECT AUTHORITY