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AGENDA REPORT <br />For the Council Meeting of January 7, 1997 <br />DUPLICATE <br />TO: HONORABLE MAYOR AND CITY COUNCIL <br />APPROVAL: MALIK FREEMAN, INTERIM CITY MANAGER <br />FROM: THOMAS K. CLARKE, INTERIM WATER & WASTEWATER DIRECTOR <br />SUBJECT: ADOPTION OF RESOLUTION ESTABLISHING A DEDICATED <br />SOURCE OF REVENUE FOR THE REPAYMENT OF SRF LOANS <br />DATE: DECEMBER 17, 1996 <br />BACKGROUND: <br />At the December 3, 1 1996 Council meeting, Council approved a Successor in Interest <br />Agreement for SRF Loans #C-06-4100-1'10 for the RIX Full Scale Project, and C-06- <br />4122-110 for the RIX Demonstration Project. The agreement transferred the ownership <br />of the Projects from SAWPA to the Cities of Colton and San Bernardino. <br />DISCUSSION/ANALYSIS: <br />In order to remove SAWPA from the SRF Loans, the State of California is requiring the <br />Cities of Colton and San Bernardino to adopt new resolutions establishing a source of <br />revenue for the repayment of the two SRF Loans for the RIX Projects. <br />r FINANCIAL IMPACT: <br />The dedicated source of revenue, sewer user charges, has not changed. The cost for <br />repaying of the SRF Loans has been included in the FY96-97 Wastewater budget. <br />RECOMMENDATION: <br />Staff recommends that Council adopt the attached Resolution establishing a dedicated <br />source of revenue for the repayment of State Revolving Fund Loans No. C-06-4122- <br />120 for the Colton/San Bemardino RIX Full Scale Project, and C-0604100-120 for the <br />Conon/San Berardino RIX Demonstration Project. <br />Item No. 17 <br />