Staff Reports - East Bay Municipal Utility District
Staff Reports - East Bay Municipal Utility District
Staff Reports - East Bay Municipal Utility District
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
Regular Meeting Minutes of<br />
January 8, 2013<br />
Page 5 of8<br />
6. Motion No. 007-13 — Authorized the Office of General Counsel to continue the<br />
employment of the law firm of Barg, Coffin, Lewis & Trapp, LLP, for services of special<br />
counsel related to environmental regulation and litigation matters in an additional amount<br />
not to exceed $200,000.<br />
DETERMINATION AND DISCUSSION<br />
7. Legislative Update.<br />
Legislative/Human Resources Committee Chair Lesa R. Mclntosh reported that the<br />
Committee unanimously supported the staff recommendations on the four 2013 federal<br />
legislative initiatives. Special Assistant Marlaigne K. Dumaine reported that the 113 1<br />
Congress convenes this month and that there will be great focus on the budget and debt<br />
ceiling. She said that in addition to the fiscal issues, congress' domestic policy agenda is<br />
likely to be comprised of issues of interest to EBMUD including infrastructure and the<br />
Sacramento-San Joaquin Delta. Next, Ms. Dumaine highlighted EBMUD's 2013 federal<br />
legislative initiatives. There was brief discussion about policy issues related to EBMUD's<br />
<strong>Bay</strong> Delta needs. Ms. Dumaine said staff will continue to monitor the development of Deltarelated<br />
legislation and administration policies and work to ensure that EBMUD's needs are<br />
effectively communicated.<br />
• Motion by Director Mclntosh, seconded by Director Mellon, to approve 2013 Legislative<br />
Initiatives as presented by staff, carried (7-0) by voice vote.<br />
Motion No. 008-13 - Approved four EBMUD 2013 Federal Initiatives: 1) Seek federal<br />
funding opportunities for infrastructure projects via any new federal programs which may be<br />
developed and any existing programs; 2) Continue to seek federal funding for EBMUD's<br />
three WRDA authorized projects - the San Ramon Valley Recycled Water Project, the<br />
Integrated Regional Recycled Water Program, and the <strong>Bay</strong> Area Regional Desalination<br />
Project; 3) Continue to pursue new WRDA funding authorizations for EBMUD's seismic<br />
program and the San Ramon Valley Recycled Water Project; and 4) Advance EBMUD's <strong>Bay</strong><br />
Delta needs with its federal delegation.<br />
8. Approve The Execution Of Remarketing Agreements And Related Supporting<br />
Documents For The $41,035,000 Water System Revenue Refunding Bonds, Series<br />
2009A-2, And Approve The Appointment Of E.J. De La Rosa & Co. Inc. And RBC<br />
Capital Markets Corporation As Remarketing Agents.<br />
Director of Finance Eric L. Sandier summarized the recommended actions related to the<br />
remarketing of Series 2009A-2 Water System bonds. The Series 2009A-2 Bonds were<br />
remarketed on March 1, 2012 at a variable interest rate equal to the weekly Securities<br />
Industry and Financial Markets Association (SIFMA) <strong>Municipal</strong> Swap Index. The interest<br />
period for the bonds was twelve months and will end February 28, 2013. Therefore, it is<br />
necessary to remarket the bonds prior to that date and set a new interest rate based upon the<br />
weekly SIFMA Index, plus or minus a spread, if any, as determined at the time of pricing.<br />
The new interest period will be determined after consultation with the remarketing agents