Agenda Item Title:
Title
Councilman Smith proposes amendments to the water bond parameters resolution, changing the authorized issuance amount from approximately $7,000,000 to approximately $10,000,000.
Body
Presenter:
Councilman Smith
Body
Description/Background:
The additional proceeds are proposed to be used for some of the following:
1) Acquire land and accompanying water rights adjacent to an existing water tank.
2) Perform interior renovations to a building near an abandoned well.
3) Construct improvements on the land acquired in #1 in the form of an access road, parking area and public gathering area.
4) Fund the current year mainline reconstruction amount deferred to avoid a water rate increase.
5) Re-stripe a tennis court situated on top of a water tank to accommodate pickle ball, install/replace the net(s) and install/repair lights.
6) Augment the subsidy transfer to the General Fund.
Recommended Action and/or Suggested Motion:
Recommendation
Council requests staff to amend resolution 17-15C, changing the authorized issuance amount of the water bond parameters from $7,000,000 to $10,000,000, and to bring the amended resolution back before the council on May 16, 2017.