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4I/PORN` City Council Staff Report
Date: September 21, 2016 CONSENT CALENDAR
Subject: ADOPTION OF A WASTEWATER FUND PLEDGED REVENUE
RESOLUTION FOR A CLEAN WATER STATE REVOLVING FUND
LOAN ASSOCIATED WITH THE CITY OF PALM SPRINGS
WASTEWATER TREATMENT PLANT UPGRADE, CITY PROJECT NO.
15-14
From: David H. Ready, City Manager
Initiated by: Engineering Services Department
SUMMARY
This action will adopt a Resolution pledging the City's Wastewater Enterprise Funds as
payment to the State Water Resources Control Board for a Clean Water State
Revolving Fund Loan required as a precursor to receiving the State's final approval of a
financial loan agreement for the Wastewater Treatment Plant Upgrade, City Project No.
15-14, (the "Project").
RECOMMENDATION:
Adopt Resolution No. , "A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF PALM SPRINGS, CALIFORNIA, PLEDGING ITS WASTEWATER ENTERPRISE
FUNDS AS PAYMENT TO THE STATE WATER RESOURCES CONTROL BOARD
UNDER THE CLEAN WATER STATE REVOLVING FUND FOR THE CITY OF PALM
SPRINGS WASTEWATER TREATMENT PLANT UPGRADE, CITY PROJECT NO. 15-
14."
STAFF ANALYSIS:
On April 1 , 2015, the City Council approved various actions related to the Wastewater
Treatment Plant Upgrade, City Project No. 15-14, (the "Project").
On May 4, 2016, the City Council approved additional actions related to the Project,
including:
1) Approval of Amendment No. 1 to Agreement No. 6691 with Veolia Water West
Operating Services, Inc., ("Veolia"), in the amount of $213,531 for a revised total
ITEM NO. C\
City Council Staff Report
September 21, 2016 - Page 2
Wastewater Treatment Plant Upgrade, CP15-14
contract amount of $2,919,027 for professional engineering and construction
management services associated with the construction phase of the Project;
2) Approval of a list of 11 pre-qualified general contractors for the Project, which
included:
a) Cushman Contracting — Goleta, CA
b) C.W. Roen Construction — Danville, CA
c) GSE Construction — Livermore, CA
d) J.F. Shea Construction — Walnut, CA
e) J.R. Filanc Construction — Escondido, CA
f) Pascal & Ludwig Constructors — Ontario, CA
g) PCL Construction — Corona, CA
h) Shimmick Construction — Irvine, CA
i) SSC Construction — Corona, CA
j) Stanek Constructors — Escondido, CA
k) W.M. Lyles Co. — Temecula, CA
3) Reconfirmed approval of the plans, specifications, and working details for the
Project, inclusive of the design-build of new potable water and fire line system
improvements, and authorized staff to advertise for bids with the pre-qualified
contractors.
Pursuant to the City Council's actions on May 4, 2016, staff initiated the formal bidding
process on May 5, 2016, with the 11 pre-qualified contractors. On August 11, 2016, at
3:00 p.m., the Procurement and Contracting Division received six construction bids from
the pre-qualified contractors listed in Table 1:
Company Location Bid Amount
W.M. Lyles Co. Temecula, CA $20,522,737
C.W. Roen Construction Co. Danville, CA $21,093,889
J.R. Filanc Construction Co. Inc. Escondido, CA $21,193,788
GSE Construction Company, Inc. Livermore, CA $22,117,899
J.F. Shea Construction, Inc. Walnut, CA $22,540,888
PCL Construction, Inc. Corona, CA $23,610,121
Table 1
Through the City's prior agreement with Veolia, Carollo Engineers prepared the plans
and specifications for the Project. In March 2016, Carollo Engineers provided a final
engineer's estimate of $23,274,980 for the Project (inclusive of contingency but
excluding escalation to mid-point and sales tax factors); a copy of Carollo Engineers
estimate is included as Attachment 1.
The City's formal bidding process established very competitive bids from 6 of the 11
pre-qualified contractors, with the lowest responsive bid from W.M. Lyles Co. submitted
at $20,522,737 is 12% below the engineer's estimate. In accordance with the City's bid
02
City Council Staff Report
September 21, 2016 - Page 3
Wastewater Treatment Plant Upgrade, CP15-14
documents, the contractor is obligated to guarantee their bid price for a period of 120
calendar days from submittal of bids —which guarantees the bid price until December 9,
2016. A full bid summary is included as Attachment 2.
As reported to the City Council in May 2016, over the last year, staff has coordinated
with the California State Water Resources Control Board, (the "Board"), to apply for and
secure a low interest (less than 2%) loan through the Clean Water State Revolving
Fund ("SRF") Program for the Project. Final legal approvals from the Board on the
financial agreement have been obtained, contingent upon the City Council's adoption of
a Resolution pledging its Wastewater Enterprise Funds as payment to the Board for the
loan.
Staff is recommending the City Council adopt the required Resolution pledging its
Wastewater Enterprise Funds required to repay the state for the loan agreement to be
entered into with the state. Following adoption of this required Resolution, staff will
finalize the loan agreement with the state, and schedule subsequent approval of the
loan agreement and award of a construction contract with W.M. Lyles Co. at that time.
ENVIRONMENTAL IMPACT:
On June 18, 2014, the City Council, acting as the lead agency in accordance with the
California Environmental Quality Act ("CEQA"), and pursuant to Section 15074 of the
CEQA Guidelines, reviewed, approved, and ordered the filing of a Mitigated Negative
Declaration ("MND") for the construction of several new replacement facilities at the
City's Wastewater Treatment Plant facility, including: influent sewer, headworks,
septage receiving station, influent pump station, primary clarifiers, scum pump station,
primary sludge pump station, primary sludge de-gritting, gravity thickener cover,
Digester No. 2 cover, foul air treatment facility, new electrical building, and lighting
system. These projects, bundled together, have been identified as the City of Palm
Springs Wastewater Treatment Plant Upgrade, City Project No. 15-14. A Notice of
Determination ("NOD") for the Project was subsequently filed with the Riverside County
Clerk on June 25, 2014.
FISCAL IMPACT:
The estimated total Project costs have been updated in the followin Table:
Project Element Amount
Design Phase Costs Incurred $3,312,305
Additional Professional Services $1,817,802
Pre-Purchased Equipment $3,341 ,769
Construction Estimate $20,522,737
Construction Contingency (5%) $1,026,137
Construction Management Services $1,101,226
Owner's Rep Services $298,524
Total Project Cost $31,420,500
03
City Council Staff Report
September 21, 2016- Page 4
Wastewater Treatment Plant Upgrade, CP15-14
The Design Phase costs of $3,312,305 have been expended and Pre-Purchased
Equipment costs of $3,341,769 have been encumbered, leaving an estimated cost of
$24,766,426 to complete the Project. Currently, the Wastewater Fund Enterprise (Fund
420) has a Fund Balance of approximately $11.5 Million. Although the Fund Balance
may be used towards the Project costs, staff recommended and the City Council
directed that the City reserve its Wastewater Enterprise Fund Balance for working
capital, unexpected costs and emergencies, and utilize low interest financing for the
remaining cost.
The final loan agreement being negotiated with the state will provide financing of up to
$29,927,196 (the prior estimated cost to be financed) at 1.7% interest, for a 30-year
term. Based on the low bid received, the final cost to be financed is estimated at
$24,766,426, resulting in a new annual debt service of approximately $1 ,063,000 to be
paid by the Wastewater Enterprise Fund. The City's Wastewater Enterprise Fund
currently has no debt.
The City's Financial Advisor, Suzanne Harrell, previously reviewed the financial status
of the City's Wastewater Enterprise, and has determined that with the currently adopted
sewer rates, the City might comfortably assume a maximum net bonding capacity of
$29 Million with an annual debt service payment of $1.8 Million. A copy of Ms. Harrell's
memorandum is included as Attachment 3. Based on the final total project cost
estimate, the annual debt service will be significantly lower than $1.8 Million, and
pledging the City's Wastewater Enterprise Funds will not compromise the financial
integrity of the Wastewater Enterprise Fund.
All costs associated with the Project, both prior and future costs, are entirely funded by
the Wastewater Enterprise Fund (Fund 420). No General Fund or Measure J Capital
Fund budget will be required in the delivery of the Project.
The requested action at this time is to adopt the Resolution pledging its Wastewater
Enterprise Funds required to repay the state for the loan agreement to be entered into
with the state. There is no financial commitment being taken at this time by the City
Council.
04
City Council Staff Report
September 21, 2016 - Page 5
Wastewater Treatment Plant Upgrade, CP15-14
SUBMITTED:
Marcus L. Fuller, MPA, P.E., P.L.S. David H. Ready, Ea ` D
Assistant City Manager/City Engineer City Manager
Attachments:
1 . Engineer's Estimate
2. Bid Summary
3. Financial Advisor Analysis
4. Resolution
05
ATTACHMENT 1
06
C CaP.---10.%
rn,.. w " ' "'.1 W" '. PROJECT SUMMARY Estimate Class: 2
Project: Palm Springs Headworks&Primary Clarifier Upgra< PIC: JPH
Client: City of Palm Springs and Veolia Water PM: DJL
Location: Palm Springs,California Date: Mar-16
Zip Code: 92262 By: HT1TL
Carollo Job# 09328A10 Reviewed: DJL
NO. - - DESCRIPTION - TOTAL
01 Influent Sewer $223,464
09 Influent Metering $60,769
12 Headworks $1,984,429
15 Influent Pump Station $1,897,174
20 Primary Clarifiers $2,814,139
21 Primary Scum Pump Station $423,339
25 Primary Sludge Pump Station $957,083
27 D ritting $742,613
30 Odor Control _ $1.238.256
55 Gravity Thickeners $79,474
90 EI&C $2,079,463
91 Excavation&Backfill $1,904,818
92 Paving $557,780
99 Yard Piping $2,636,428
TOTAL DIRECT COST $17,599,228
General Conditions 10.0% $1,759,923
Subtotal _ _ $19,359,151
Estimating_Unknowns 5.0% $879,961
Subtotal $20,239,113
General Contractor Overhead and Profit 15.0% $3,035,867
Subtotal $23,274,980 4*W_!
Escalation to Mid-Point 7.1% $1,656,557
Subtotal $24,931,537
Sales Tax 9.0% $1,121,919
Subtotal $26,053,456
Programming $0
_ Subtotal $26,053,456
Allowances
TOTAL ESTIMATED CONSTRUCTION COST
The cost estimate herein is based on our perception of current conditions at the project location. This estimate reflects our
professional opinion of accurate costs at this time and is subject to change as the project design matures. Carollo Engineers have no
control over variances in the cost of labor,materials,equipment,nor saWicesprovided by others,contractor's means and methods of
executing the work or of determiningprices,competitive bidding or market conditions,practices or bidding strategies. Carollo
Engineers cannot and does not wament or guarantee that proposals,bids or actual construction costs wolf not vary from the costs
presented as shown.
07
f/n:2016 Rebid.xlsb-PROJECT SUMMARY Page 1 of 1 Printed: 10/28/2010
ATTACHMENT 2
08
WASTEWATER TREATMENT PLANT UPGRADE
CITY PROJECT NO 15-14
BID SUMMARY Biol Opening:August 11,2016
LUMPSUM BID SCHEDULE A-REVISED(ADDENDUM NO.4) DUANT. UNIT W.M.LYLES CO. C.W.ROEN J.R.FILANC GEE J.F.SHEA PCL
DESCRIPTION CONSTRUCTION CO, CONSTRUCTION CO,INC. CONSTRUCTION CO,INC CONSTRUCTION,INC. CONSTRUCTION,INC.
The scope of Burk of this Lump Sum Bid Schedule Includes al met.excluding certain bid arms
separately pool for an a unit pwe basis as identified on BM Schedule B.alas dentdMd in the
Consbuctipn Or.W 0e and Typkal Details Had
CITY OF PALM SPRINGS
VEOLIA WATER WEST OPERATING SERVICES.INC.
HEADWORKS AND PRIMARY CLARIFIER UPGRADE
APRIL 2016
VOLUMES THROUGH 5
The scope of toile of this Lump Sum BN schedule also ncludes alvmrk required Ism.
Camra.t Technical Spech.tbns.111cable to flatW.M.Aster Treatment Plant Upgrade(the 1 LS $19726412 $19721000 $20.173351 $20,6D4600 $21.015.200 $22,096,500
idtnli6ed as the Headvurks and Primary Clarifier Upgrade).CM Project No,15-14
Specul Not..Al-,k idar4Aed an the Cemuugian Dmry,.list robbed by the CbMnacVTechmcai
Speoifka io,(Volume,1 though 5),shelf be furnished.complete an piece including al ao,cutelea
trades c nsbuchon of all see anorovm ante,and completing all associated nark neceasarytc police,
In.improvements n complete vn,king order. In sabmi¢ng this lump Sum Bid.the Rock r
aeknovfidges that,yam In.ictco,tra,of Mo.. pa If bid earns apa,aleh Pool far on a unk arke basis as drafted on Bd ScheduScheduleB,there vA be no separate or additional payment made for
comgetng the.1k "Lead re rune,Or.Lump BM Schedule 0.
LUMP SUM RIO-REVISED(ADDENDUM NO.41 SOHE01)LE OF VALUES:
DESCRIPTION OF WORK I SCH EDU LE OF VALU ES SCHEDULE OF VALU ES SCHEDULE OF VALUES SCHEDULE OF VALUES SCHEDULEOFVALUES SCHEDULE OF VALUES
Dvivon Ot-Genoral R.,musenls I LS $2.300.000 f95DOW S27"01 $2.914,600 31,986,500 51.300.000
Dvina.02-St.Work 1 LS $3800.000 $4,100.WO $2071,137 $6.2W.000 $3,514,000 $7.400.000
Drviaon 03-Connele 1 L6 33,6NON $4WO,ON 53,366350 33,500.000 $5,Goo NO 34900.000
Dvision 05-Valli 1 LS $800000 $1,200000 3825814 3950.WO 31.173,01 S1,000.000
Divoom 06-Wood and Plastics 1 LS $250.000 33N6W $285.363 33006N 3400.000 150000
Darman 07-7he,nal and M.isu-Protection 1 LS $50ON 540.W0 $22633 4200W $44.ON 3100.000
DMafon 09-Finish- I LS S1000.003 $1 IN= 5435.075 55506W $NS,OW 3600.0013
a.:zion 10-5petlaNes 1 LS $10000 S6.000 fo $10'000 $40 DOD 56550
D'ribi0n 11-Equipmem 1 LS $900000 $1.IwNe 5433,047 $950 W0 $1 540.3001 594000
Dam-l3-Special C...tmclione 1 LS S700.000 5650000 S1.754.500 $1.150,600 sisa3.5DO1 $2,170 NO
Dve:an 14-Conveying Systems 1 L6 $1500W $145.WI) $326596 $150000 f192.000 S30.000
Diri 15-Mechanical 1 LS 33,816,41E !2 C00 $5697,646 $1600 No 54.06],900 $15Wp00
Division l6-Ekcrritd 1 LS fL200.00a 31,603.ON $2.140,096 $2.000,000 at S70'aw $1500.NO
Division 17-InstrumentaWn aM Control System 1 LS 53500N $500.W0 S20,000 $310.000 S429.000 SSW.WO
TOWI LUMP Sum Bid: 519,726,11E S19,721,000 $20,173.361 $20.504,600 $21.015.2001 $22,011
UNIT UNIT UNR UNIT UNIT UNIT
BID SCHEDULER pUgNT. UNIT AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT
PRICE PRICE PRICE PRICE PRICE PRICE
1. V ACP Pipe renaval'drsrobal 46 LF $ 50 $ 2.300 f 85 $ 3910 f 215 3 2,890 f 159 S 7.314 S 123 $ $658 $ 71 $ 3266
2. V ACP PipemrosidWispesal 391 LF 3 55 3 21.505 5 50 5 19550 $ 3l S 12,903 3 91 $ 35,581 $ 95 $ 37.145 $ 70 S 27.370
3. 1V ACP Pip.nmova0dR....I in LF S 65 $ 11,245 $ 70 f 12.110 S W 1 10,380 $ 117 $ 20.241 f 141 3 24393 f 1N $ 17.30D
4. 12-ACP Piper polidzposai 164 LF 3 70 $ 12.660 $ 73 $ 1343E $ 57 $ 10.439 5 129 1 231M $ 1RE $ 35880 $ 1W $ 16.400
S. Ir AGE Pipe nmomidsposal 1W LF 3 90 $ 13.500 3 1N $ Ism $ T, $ H,550 $ 140 S 210N S 167 $ 25050 S 1N 5 15,ON
6. 2T ACP Pp.removaPo'epasal 265 LF $ 110 5 29.150 $ 141 $ 37,365 3 54 S 14,310 3 14C S 371N $ 161 5 42665 $ 105 S 27625
7. W ACP Poe rtmova0dlsposal 506 LF $ 125 $ 0250 S 102 $ 51612 S W 5 "ASO S 142 S 71852 $ 1W S 60.960 S 126 S 64.7"
R. Digealer No.2 Svfam Repair 3071 SF 3 13 $ 39,923 1 72 3 221.112 3 28 $ 6SRSO S 27 $ 82,917 S 32 $ 98,272 S 27 S 02,917
9. Digester No.2 Concrete Coating 4,673 SF S 14 f 65.422 S 16 f 74758 S 14 $ 65,422 S 13 S 60,749 $ 15 $ 70,095 f 16 $ 70,095
10, Dqi No.2 Bob,lnjetlon far Eaolim,Concrete 5W LF $ 40 S 20 GOO $ ISO $ 9C,000 $ 35 $ 17,500 S 76 $ 39 W0 $ 75 $ 375W 3 17 3 63.SW
11. 2'POUble Water Late 1.220 LF S 40 f 48NO $ 24 3 29280 $ 51 S 92220 $ 146 $ 178.120 $ 102 $ 124,440 3 65 $ T9.3W
12. Bui 2'REV in Valve Boa 5 EA $ 11W 1 5NO $ 1400 $ 7NO 1 374 S 1.870 $ 1.187 f 5935 $ 3,IN $ 15.500 f 6,900 S 345W
13. O"Fire Line b!Depth) 2.700 IF f 75 $ 202.500 $ 175 f 472,599 f 129 3 US 300 $ 217 S 585,900 f 1" $ 442,600 $ 146 $ 399.600
14. 8'Fire Line El Depth) 1.290 LF $ 55 S 70,950 f 95 S 1221550 $ 113 S 145.770 S 96 3 123.840 $ 157 $ 202.530 $ 162 $ 2081960
15. Super!8"BFVm Y.N.Boa 14 EA S 3,800 f 53.200 5 3]00 1 S SION $ GORE S 42.N0 5 4.505 $ 63070 f 14W $ 47,600 $ 92W $ 128,800
18. OF Commercial Fie Hydrant AssemLly including isolation valves) 6 EA $ 74N 1 592N S t00W f W.OW 3 937 3 75,066 3 9.62E 5 76.976 $ 14 NO 5 119200 $ 11.5W 3 92.0N
1T. Nr Raker Verve A...m 7 10 EA $ 7,0N S 70.0W 5 6ON S W.NO 5 6,W4 S SO 5 6,491 5 64,910 1 $ 105W 5 105,00D $ 1300 $ 130,OW
18. Unity Pathole and Coordmotim for Water Line lnstbtKn 10 EA $ TOO $ 7.OW $ tOW f 10 NO $ Set, S SdN S 1661 S 16.610 S 1.100 5 11.NO 3 25N S 25.ON
TOTAL OF ALL ITEMS OF BID SCHEDULE B: $ 796,325 S 1172861 i 1,020,437 $ 1,613,299 f 1,525,686 S 1.513.621
TOTAL OF BID SCHEDULES AaB: S 20.522.737 6 21.093,389 $ 21,193.788 $ 22,117,899 f 22,540,989 $ 21,610,121
1 2 3 4 5 6
NOTE:THE CORRECTED AMOUNTS ARE UNDERLINED O'el
ATTACHMENT 3
10
February 26, 2015
Assumptions for WWTP Projections
• Rates continue to increase by $1 per year until $35 reached — assumes successful
Prop 218 hearing every five years
• Interest rates for debt based on AA rating, rates as of February 26, 2015 and 20 by
contingency
• No cash funded reserve fund for bonds
• Working capital reserve 7 months because of tax roll billing cycle
• Depreciation/Emergency Repair Reserve starts at $3,000,000, increases $500,000
each year. Lower than existing because assets will be new.
• Additional $2M capital costs each year
• $750,000 design costs remaining as of July 1, 2014
• Project costs of $32M including prepurchase equipment and installation but
excluding design costs already paid ($2.55M)
• Operating Costs based on Rate Study
Option 1 Funding:
Project Costs Remaining Design Total
Bond Proceeds $25,000,000 $25,000,000
Fund Balance 7,000,000 $750,000 $7,750,000
Total $32,000,000 $750,000 $32,750,000
Minimum Coverage 1.47x taking into account $20 monthly fee
Option 2 Funding (Maximize Bond Proceeds):
Project Costs Remaining Design Total
Bond Proceeds $29,000,000 $29,000,000
Fund Balance 3,000,000 $750,000 $3,750,000
Total $32,000,000 $750,000 $32,750,000
Minimum Coverage 1.25x taking into account $20 monthly fee
The City Tower,333 City Boulevard West,Suite 1430,Orange,California 92868
Tel:714.939.1464 Fax: 714.939.1462 � 1
OPTION 1-CITY OF PALM SPRINGS WASTEWATER TREATMENT PLANT CASHFLOW-RAISE$25M FOR PROJECT/FUND$7,750,000 FROM FUND BALANCE(TOTAL PROJECT$32M PLUS$750,000 REMAINING DESIGN)
Beginning Ending 7 Month Unreserved
FVE Monthly Service Operating Net Debt Coverage Remaining Connection Interest Other Available Fund Available Bond Fund Operating Depreciation Fund
)u ne 30 EDU Rate Charge Expense Income Service Ratio Balance Fees Income Income Cashflaw Balance Cashflow Proceeds CIP Balance Reserve Reserve Balance
2013 44,200 12 6,364,800
2014 44,775 14 7,522,200 (5,544,968) 1,977,232 - 1,977,232 673,754 184,273 24,859 2,860,118 12,764,948 2,960,118 (2,324,022) 13,301,044 (3,234,565) (3,000,000) 7,066,479
2015 44,775 16 8,596,800 (6,345,000) 2,251,800 - 147% 2,251,800 300,000 80,000 15,000 2,646,800 13,301,044 2,646,800 25,000,000 (32,750,000) 8,197,844 (3,701,250) (3,500,000) 996,594
2016 44,775 18 9,671,400 (6,709,000) 2,962,4DO (1,535,000) 193% 1,427,400 300,000 80,000 15,000 1,822,400 8,197,844 1,822,400 (2,000,000) 9,020,244 (3,913,583) (4,000,000) 106,661
2017 44,775 20 10,746,000 (7,095,000) 3,651,000 (1,S3S,000) 238-A 2,116,000 300,000 90,000 15,000 2,511,000 8,020,244 2,511,000 (2,000,000) 8,531,244 (4,138,750) (4,500,000) (107,506)
2018 44,775 21 11,283,300 (7,308,000) 3,975,300 (1,535,000) 259% 2,440,300 - 80,000 15,000 2,535,300 8,531,244 2,535,300 (2,000,000) 9,066,544 (4,263,000) (5,000,000) (196,456)
2019 44,775 22 11,820,600 (7,527,000) 4,293,600 (1,535,000) 280% 2,758,600 - 80,000 15,000 2,853,600 9,066,544 2,853,600 (2,000,000) 9,920,144 (4,390,750) (5,SOO,000) 29,394
2020 44,775 23 12,357,900 (7,753,000) 4,604,900 (1,535,000) 300% 3,069,900 - 80,000 15,000 3,164,900 9,920,144 3,164,900 (2,000,000) 11,085,044 (4,522,593) (6,000,000) 562,461
2021 44,775 24 12,995,200. (7,986,000) 4,909,200 (1,535,0001 320% 3,374,200 - 80,000 15,000 3,469,200 11,085,044 3,469,200 (2,000,000) 12,554,244 (4,658,500) (6,500,000) 1,395,744
2022 44,775 25 13,432,500 (8,226,000) 5,206,500 (1;535,000) 339% 3,671,500 - 80,000 15,000 3,766,500 12,554,244 3,766,500 (2,000,000) 14,320,744 (4,798,500) (7,000,000) 2,522,244
2023 44,775 26 13,969,800 (8,473,000) 5,496,800 (1,535,000) 358% 3,961,800 - 80,000 iS,000 4,OS6,800 14,320,744 4,056,800 (2,000,000) 16,377,544 (4,942,583) (7,500,000) 3,934,961
2024 44,775 V 14,507,100 (9,727,000) 5,780,100 (1,535,DO0) 377% 4,245,100 - 80,000 15,000 4,340,100 16,377,544 4,340,100 (2,000,000) 18,717,644 (5,090,750) (8,000,000) 5,626,894
2025 44,775 28 15,044,400 (8,989,000) 6,055,400 (1,535,000) 394% 4,520,400 - 80,000 15,000 4,615,400 18,717,644 4,615,400 (2,000,000) 21,333,1544 (5,243,583) (8o500,000) 7,589,461
2026 44,775 29 15,581,700 (9,259,000) 6,322,700 (1,535,000) 412% 4,787,700 - 80,000 15,000 4,882,700 21,333,044 4,882,700 (2,000,000) 24,215,744 (5,401,083) (9,000,000) 9,814,661
2027 44,775 30 16,119,000 (9,537,000) 6,582,000 (1,535,000) 429% 5,047,000 - 80,000 15,000 5,142,000 24,215,744 5,142,000 (2,000,000) 27,357,744 (5,563,250) (9,500,000) 12,294,494
2028 44,775 31 16,656,300 (9,823,000) 6,833,300 (1,535,000) 445% 5,298,300 - 80,000 15,000 5,393,300 27,357,744 5,393,300 (2,000,000) 30,751,044 (5,730,083) (10,000,000) 15,020,961
2029 44,775 32 17,193,600 (10,118,000) 7,075,600 (1,535,000) 461% 5,540,600 - 80,000 15,000 5,635,600 30,751,044 5,635,600 (2,000,000) 34,386,644 (5,902,167) (10,500,000) 17,984,477
2030 44,775 33 17,730,900 (10,422,000) 7,398,900 (1,535,000) 476% 5,773,900 - 80,000 15,000 5,868,900 34,386,644 5,868,900 (2,000,000) 38,255,544 (6,079,500) (21,000,000) 21,176,044
2031 44,775 34 18,268,200 (10,735,000) 7,533,200 (1,535,000) 491% 5,998,200 - 80,000 15,000 6,093,200 38,255,544 6,093,200 (2,000,000) 42,348,744 (6,262,083) (11,500,000) 24,586,661
2032 44,775 35 18,805,500 (11,057,000) 7,748,500 11,535,000) 505% 6,213,500 - 80,000 15,000 6,308,500 42,348,744 6,308,500 (2,000,000) 46,657,244 (6,449,917) (12,000,000) 28,207,327
2033 44,775 35 18,805,500 (11,389,000) 7,416,500 (1,535,000) 483% 5,881,500 - 80,000 15,000 5,976,500 - 46,657,244 5,976,500 (2,000,000) 50,633,744 (6,643,583) (12,500,000) 31,490,161
2034 44,775 35 18,805,500 (11,731,000) 7,074,500 (1,535,000) 461% 5,539,500 - 80,000 15,000 5,634,500 50,633,744 5,634,500 (2,000,000) 54,268,244 (6,843,083) (13,000,000) 34,425,161
2035 44,775 35 18,805,500 (12,083,000) 6,722,500 (1,535,000) 438% 5,187,500 - 80,000 15,000 5,282,500 54,268,244 5,292,500 (2,000,000) 57,550,744 (7,048,417) (13,500,000) 37,002,327
2036 44,775 35 18,805,500 (12,445,000) 6,360,500 (1,535,1300) 414% 4,825,5130 - 80,000 15,OD0 4,920,500 57,550,744 4,920,500 (2,000,000) 60,471,244 (7,259,583) (14,000,000) 39,211,661
2037 44,775 35 18,805,500 (12,818,000) 5,987,500 (1,535,D00) 390% 4,452,500 - 80,000 15,000 4,547,500 60,471,244 4,547,500 (2,000,000) 63,018,744 (7,477,167) (14,500,000) 41,041,577
2038 44,775 35 18,805,500 (13,203,ODO) 5,602,500 (1,535,000) 365% 4,067,500 - 80,000 15,000 4,162,500 63,018,744 4,162,500 (2,000,000) 65,181,244 (7,701,750) (15,000,000) 42,479,494
2039 44,775 35 18,805,500 (13,599,000) 5,206,SDO (1,535,0001 339% 3,671,500 - 80,000 15,000 3,766,500 65,181,244 3,766,500 (2,000,000) 66,947,744 (7,932,750) (15,500,000) 43,514,994
2040 44,775 35 18,805,500 (14,007,000) 4,798,500 (1,535,000) 313% 3,263,500 - 80,000 15,OOO 3,358,500 66,947,744 3,358,500 (2,000,000) 68,306,244 (8,170,750) (16,000,000) 44,135,494
2041 44,775 35 18,805,500 (14,427,0001 4,378,5DO - 4,378,50D - 80,000 15,000 4,473,500 69,306,244 4,473,500 (2,OOD,000) 70,779,744 (8,415,750) (16,500,000) 45,863,994
2042 44,775 35 18,805,500 (14,860,0001 3,945,500 - 3,945,500 - 80,000 15,000 4,040,500 70,779,744 4,040,500 (2,000,000) 72,820,244 (8,668,333) 117,000,000) 47,151,911
2043 44,775 35 13,805,500 (15,306,000) 3,499,500 - 3,499,500 - 80,000 15,000 3,594,500 72,820,244 3,594,500 (2,000,000) 74,414,744 (8,928,500) (17,500,000) 47,986,244
2044 44,775 35 18,805,500 (15,765,000) 3,040,500 - 3,040,500 - 80,000 15,000 3,135,500 74,414,744 3,135,SOO (2,000,000) 75,550,244 (9,196,250) (18,000,000) 48,353,994
iz
OPTION 2-CITY OF PALM SPRINGS WASTEWATER TREATMENT PLANT CASHFLOW-RAISE$29M FOR PROJECT/FUND$3,750,000 FROM FUND BALANCE(TOTAL PROJECT$32M PLUS$750,000 REMAINING DESIGN)
Beginning Ending 7 Month Unreserved
FYE Monthly Service Operating Net Debt Coverage Remaining Connection Interest Other Available Fund Available Bond Fund Operating Depreciation Fund
June 30 EDU Rate Charge Expense Income Service Ratio Balance Fees Income Income CashBow Balance Cashflow Proceeds CIP Balance Reserve Reserve Balance
2013 44,Z00 12 6,364,800
2014 44,775 14 7,522,200 (5,544,9681 1,977,232 - 1,977,232 673,754 184,273 24,859 2,960,118 12,764,948 2,860,118 (2,324,022) 13,301,044 (3,234,565) (3,000,000) 7,065,479
2015 44,775 16 8,596,800 (6,345,000) 2,251,800 - 125% 2,251,800 300,000 80,000 15,000 2,646,800 13,301,044 2,646,800 29,000,000 (32,750,000) 12,197,944 (3,701,250) (3,500,000) 4,996,594
2016 44,775 18 9,671,400 (6,709,000) 2,962,400 (1,800,000) 165% 1,162,400 300,000 80,000 15,000 1,557,400 12,197,844 1,557,400 (2,000,000) 11,755,244 (3,913,583) (4,000,000) 3,941,661
2017 44,775 20 10,746,000 (7,095,000) 3,651,000 (1,800,000) 203% 1,851,000 300,000 80,000 15,000 2,246,000 11,755,244 2,246,000 (2,000,000) 12,001,244 (4,138,750) (4,500,000) 3,362,494
2018 44,775 21 11,283,300 (7,308,000) 3,975,300 (1,800,000) 221% 2,175,300 - 80,000 15,000 2,270,300 12,001,244 2,270,300 (2,000,000) 12,271,544 (4,263,000) (5,000,000) 3,008,544
2019 44,775 22 11,82D,600 (7,527,000) 4,293,600 (1,800,000) 239% 2,493,600 - 80,000 15,000 2,588,600 12,271,544 2,588,600 (2,000,000) 12,860,144 (4,390,750) (5,500,000) 2,969,394
202D 44,775 23 12,357,900 (7,753,000) 4,604,900 (1,900,000) 256% 2,804,900 - 80,000 15,000 2,899,900 12,860,144 2,899,900 12,000,0001 13,760,044 (4,522,583) (6,000,D00) 3,237,461
2021 44,775 24 12,895,200 (7,986,000) 4,909,200 (1,800,000) 273% 3,109,200 - 80,000 25,000 3,204,200 13,760,044 3,204,200 (2,000,000) 14,964,244 (4,658,500) (6,500,000) 3,805,744
2022 44,775 25 13,432,500 (8,226,000) 5,206,500 (1,800,000) 289% 3,406,500 - 80,000 15,000 3,501,500 14,964,244 3,501,500 (2,000,000) 16,465,744 (4,798,500) (7,000,000) 4,667,244
2023 44,775 26 13,969,800 (8,473,000) 5,496,800 11,800,000) 305% 3,696,800 - 80,000 15,000 3,791,900 16,465,744 3,791,800 (2,DOO,000) 18,257,544 (4,942,593) (7,500,000) 5,814,961
2024 44,775 27 14,507,100 (8,727,000) 5,780,100 (1,800,000) 321% 3,980,100 - 80,000 15,000 4,075,100 18,257,544 4,075,100 (2,000,000) 20,332,644 (5,090,750) (8,000,000) 7,241,894
2625 44,775 28 15,044,400 (8,989,000) 6,055,400 (1,800,000) 336% 4,255,400 - 80,000 15,000 4,350,400 20,332,644 4,350,400 (2,000,000) 22,683,044 (5,243,583) (8,500,ODO) 8,939,461
2026 44,775 29 15,581,700 (9,259,DOD) 6,322,700 (1,800,000) 351% 4,522,700 - 80,000 15,000 4,617,700 22,683,044 4,617,700 (2,000,000) 25,30D,744 (5,401,083) (9,000,000) 10,899,661
2027 44,775 30 16,119,000 (9,537,000) 6,582,000 (1,800,000) 366% 4,782,000 - 80,000 15,000 4,877,ODO 25,300,744 4,877,000 (2,000,000) 28,177,744 (5,563,250) (9,500,000) 13,114,494
2028 44,775 31 16,656,300 (9,823,000) 6,833,300 (1,800,000) 380% 5,033,30D - 80,000 15,000 5,128,300 28,177,744 5,128,300 (2,000,000) 31,306,044 (5,730,083) (10,000,000) 15,575,961
2029 44,775 32 17,293,600 (10,118,000) 7,075,600 (1,800,DDD) 393% 5,275,500 - 80,000 15,000 5,370,600 31,306,044 5,370,600 (2,000,0D0) 34,676,644 (5,902,167) (10,500,000) 18,274,477
2030 44,775 33 17,730,900 (10,422,000) 7,308,900 (1,800,000) 406% 5,508,900 - 80,000 15,000 5,603,900 34,676,644 5,603,900 (2,000,000) 38,280,544 (6,079,500) (11,000,000) 21,201,044
2031 44,775 34 18,268,200 (10,735,000) 7,533,200 (1,800,000) 419% 5,733,200 - 80,000 15,000 5,828,200 38,230,544 5,828,200 (2,000,000) 42,108,744 (6,262,083) (11,SOO,D00) 24,346,661
2032 44,775 35 18,805,500 (11,057,000) 7,748,500 (1,800,000) 430% 5,948,500 - 80,000 15,000 6,043,500 42,108,744 6,043,500 (2,000,0001 46,152,244 (6,449,917) (12,000,000) 27,702,327
2033 44,775 35 18,805,500 (11,389,000) 7,416,500 (1,800,000) 412% 5,616,500 - 80,000 15,000 5,711,500 46,152,244 5,711,500 (2,000,000) 49,863,744 (6,643,583) (12,500,D00) 30,720,161
2034 44,775 35 18,805,500 (11,731,000) 7,074,500 (1,800,000) 393% 5,274,500 - 80,000 15,000 5,369,500 49,863,744 5,369,500 (2,D00,000) 53,233,244 (6,843,083) (13,000,000) 33,390,161
2035 44,775 35 18,805,500 (12,093,000) 6,722,5DO (1,800,000) 373% 4,922,500 - 80,000 15,000 5,017,500 53,233,244 5,017,500 (2,000,000) 56,250,744 (7,048,417) (13,500,000) 35,702,327
2036 44,775 35 18,805,500 (12,445,000) 6,360,500 (1,800,000) 353% 4,560,500 - 80,000 15,000 4,655,500 56,250,744 4,655,500 (2,000,000) 58,906,244 (7,259,583) (14,000,000) 37,646,661
2037 44,775 35 18,805,500 (12,818,000) 5,987,500 (1,800,000) 333% 4,187,500 - 80,000 15,000 4,282,500 58,906,244 4,282,500 (2,000,000) 61,188,744 (7,477,167) (14,500,000) 39,211,577
2038 44,775 35 18,805,500 (13,203,0001 5,602,500 (1,800,000) 311% 3,802,500 - 80,000 15,000 3,897,SOO 61,188,744 3,997,500 (2,000,000) 63,086,244 (7,701,7501 (15,000,000) 40,394,494
2039 44,775 35 18,805,500 (13,599,000) 5,206,500 (1,800,0001 289% 3,406,500 - 80,000 15,000 3,501,500 63,086,244 3,501,500 (2,000,000) 64,587,744 (7,932,750) (15,500,00D) 41,154,994
2040 44,775 35 10,805,500 (14,007,000) 4,798,500 (1,800,000) 267% 2,998,500 - 80,000 15,13DO 3,093,500 64,587,744 3,093,500 (2,000,ODO) 65,681,244 (8,170,750) 116,000,000) 41,530,494
2041 44,775 35 18,805,500 (14,427,000) 4,378,500 - 4,378,500 - 80,000 15,000 4,473,500 65,681,244 4,473,500 (2,000,000) 68,154,744 (8,415,750) (16,500,000) 43,238,994
2042 44,775 35 18,805,500 (14,860,000) 3,945,500 - 3,945,500 - 80,000 15,000 4,040,500 68,154,744 4,040,500 (2,000,000) 70,195,244 (8,668,333) (17,000,000) 44,526,911
2043 44,775 35 18,805,500 (15,306,D00) 3,499,500 - 3,499,500 - 80,000 15,000 3,594,500 70,195,244 3,594,500 12,000,0001 71,789,744 (3,928,500) (17,500,D00) 45,361,244
2044 44,775 35 18,805,SDO (15,765,000) 3,040,500 - 3,040,500 - 80,000 15,000 3,135,500 71,789,744 3,135,500 (2,000,0001 72,925,244 (9,196,250) (18,000,D00) 45,728,994
/3
ATTACHMENT 4
14
RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
PALM SPRINGS, CALIFORNIA, PLEDGING ITS
WASTEWATER ENTERPRISE FUNDS AS PAYMENT TO
THE STATE WATER RESOURCES CONTROL BOARD
UNDER THE CLEAN WATER STATE REVOLVING FUND
FOR THE CITY OF PALM SPRINGS WASTEWATER
TREATMENT PLANT UPGRADE, CITY PROJECT NO. 15-
14
WHEREAS, the City of Palm Springs, (the "City"), desires to finance the costs of
constructing and/or reconstructing certain public facilities and improvements relating to
its wastewater system, including certain treatment facilities, pipelines and other
infrastructure, identified as the City of Palm Springs Wastewater Treatment Plant
Upgrade, City Project No. 15-14, (the "Project"); and
WHEREAS, the City intends to finance the construction and/or reconstruction of the
Project or portions of the Project with moneys ("Project Funds") provided by the State of
California, acting by and through the State Water Resources Control Board (the "State
Water Board"); and
WHEREAS, the State Water Board may fund the Project Funds through its Clean Water
State Revolving Fund ("CWSRF"), and
WHEREAS, the CWSRF can provide a very low interest loan to the City for Project
Funds necessary to fund the Project; and
WHEREAS, it is necessary to pledge the City's Wastewater Enterprise Funds as
payment to the State Water Board for the Project Funds made available to the City
through the CWSRF.
NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF PALM SPRINGS DOES
HEREBY RESOLVE AS FOLLOWS:
SECTION 1. The City Council hereby dedicates and pledges the Net Revenues of the
Wastewater Enterprise fund and the Wastewater Enterprise fund to payment of any and
all Clean Water State Revolving Fund financing for the Project.
SECTION 2. The City Council hereby commits to collecting such revenues and
maintaining such funds throughout the term of such financing and until the City has
satisfied its repayment obligation thereunder unless modification or change is approved
in writing by the State Water Resources Control Board.
15
Resolution No.
Page 2
SECTION 3. The City Council hereby acknowledges that the City's pledge hereunder
shall constitute a lien in favor of the State Water Resources Control Board on the
foregoing funds and revenues without any further action necessary, so long as the
financing agreement is outstanding.
SECTION 4. The City Council hereby commits to maintaining the funds and revenues
at levels sufficient to meet its obligations under the financing agreement, so long as the
financing agreement is outstanding.
ADOPTED THIS _day of , 2016.
David H. Ready, City Manager
ATTEST:
James Thompson, City Clerk
CERTIFICATION
STATE OF CALIFORNIA ) ss.
CITY OF PALM SPRINGS )
I, JAMES THOMPSON, City Clerk of the City of Palm Springs, hereby certify that
Resolution No. is a full, true and correct copy, and was duly adopted at a regular
meeting of the City Council of the City of Palm Springs on , 2016, by the
following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
James Thompson, City Clerk
1. 6