Resolution Number CVWD 02-10-15-01RESOLUTION NO. CVWD 02-10-15-01
' A RESOLUTION OF THE CAPISTRANO VALLEY WATER DISTRICT
AUTHORIZING AN OPERATING LEASE AND A PROJECT
IMPLEMENTATION AGREEMENT WITH SAN JUAN BASIN AUTHORITY
AND AUTHORIZING THE EXECUTION THEREOF AUTHORIZING
CERTAIN ACTIONS IN CONNECTION THEREWITH
WHEREAS, the Capistrano Valley Water District (the "Water District') is a county
water district, organized and existing under the laws of the State of California and is a
subsidiary district of the City of San Juan Capistrano (the "City"); and
WHEREAS, the San Juan Basin Authority (the "Authority') and the City have
approved a Property Lease by and between the City and the Authority (the 'Property
Lease"), pursuant to which the City will agree to lease the Property (as defined in the
Property Lease) to the Authority; and
WHEREAS, the Authority and the Water District, a member of the Authority, have
approved a Project Lease Agreement by and between the Water District and the
Authority (the " Project Lease Agreement'), pursuant to which the Water District will
agree to lease the Project (as defined in the Project Lease Agreement) from the
Authority and to pay certain Lease Payments (as defined in the Project Lease
Agreement) in connection with the issuance and sale of the Capistrano Valley Water
' District, Lease Revenue Bonds (Ground Water Recovery Project), Issue of 2002 (the
"Bonds") by the Authority pursuant to a Trust Agreement by and among BNY Western
Trust Company, as trustee (the 'Trustee"), the Water District and the Authority (the
"Trust Agreement'); and
WHEREAS, the proceeds of the Bonds will be used to finance the acquisition
and construction of Phase I of the San Juan Basin Ground Water Recovery Project (the
'Project'); and
WHEREAS, the Authority and the Water District desire to enter into that certain
Agreement for Implementation of the Lease Agreement, by and between the Authority
and the Water District (the "Implementation Agreement') and that certain Operating
Lease Agreement by and between the Authority and the Water District (the "Operating
Lease") for the purpose of establishing the terms of operation and ownership of the
Project, the forms of which have been presented to the board of directors of the
Authority at a meeting to be held on the same date as the date on which this Resolution
has been adopted; and
WHEREAS, the Water District possesses all legal authority to and desires to
enter into the Implementation Agreement and the Operating Lease;
NOW, THEREFORE, BE IT RESOLVED, that the Board of Directors of the
I
Capistrano Valley Water District does hereby
1. Provide that the foregoing recitals are true, correct, and adopted.
2. Approve the proposed forms of the Implementation and Operating Lease
Agreement presented at this meeting.
3. Authorize and direct the Chairperson of the Water District (the
"Chairperson") and the General Manager of the Water District or his designee (the
"General Manager"), acting together or separately, for and in the name of the Water
District to execute each of the Implementation Agreement and Operating Lease in the
form hereby approved.
4. Authorize and Direct the Chairperson, the General Manager, the
Administrative Services Director and all other members, officers and employees of the
Water District to execute all other documents and take all other actions on behalf of the
Water District that may be necessary or advisable to carry out the transactions
contemplated by the Implementation Agreement and Operating Lease.
5. Provide that this Resolution shall take effect upon adoption.
PASSED, APPROVED and ADOPTED this 15th day of October 2002.
ATTEST:
R. MONAHAN,
CAPISTRANO VALLEY WATER DISTRICT
1"Imri&O's'�
SLATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.
CITY OF SAN JUAN CAPISTRANO )
I, MARGARET R. MONAHAN, appointed Clerk of the Board of the Capistrano Valley Water District, do
hereby certify that the foregoing Resolution No. CVWD 02-10-15.01 was duly adopted by the Board of
Directors of the Capistrano Valley Water District at a regular meeting thereof, held the 15th day of
October 2002, by the following vote:
AYES: DIRECTORS: Hart, Campbell, Gelff and Chairman Bathgate
NOES DIRECTORS: Swerdlin
ABSENT: DIRECT RS: None
MAR RET R. MONAHAN, Clerk of the Board
IIIIbN'1i1YA