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HomeMy WebLinkAboutRES 2007-29 - Board 0 L 'P_!(_1f Resolution No. 2007 - 29 RESOLUTION APPROVING THE APPLICATION FOR GRANT FUNDS FOR THE SIERRA NEVADA CONSERVANCY PROPOSITION 84 GRANTS PROGRAM WHEREAS, the Legislature and Governor of the State of California have provided funds for the Proposition 84 Grants Program; and WHEREAS, the Sierra Nevada Conservancy has been delegated the responsibility of the administration of a portion of these funds through a local assistance grants program, establishing necessary procedures; and WHEREAS, procedures established by the Sierra Nevada Conservancy require a resolution certifying the approval of application by the Applicant's governing board before submission of said application; and WHEREAS, the Applicant, if selected, will enter into an agreement with the Sierra Nevada Conservancy to carry out the project; and WHEREAS, the Truckee Donner Public Utility District has identified the Residential Water Meter Retrofit project as valuable toward meeting its mission and goals. BE IT HEREBY RESOLVED by the Board of Directors of the Truckee Donner Public Utility District that this Board: 1. Approves the submittal of an application for the Residential Water Meter Retrofit project; and 2. Certifies that Applicant understands the assurances and certification requirements in the application; and 3. Certifies that Applicant or titleholder will have sufficient funds to operate and maintain the resource(s) consistent with the long-term benefits described in support of the application; or will secure the resources to do so; and 4. Certifies that Applicant will comply with all legal requirements as determined during the application process; and Res. 2007-29 5. Appoints the District's General Manager, or designee, as agent to conduct all negotiations, execute and submit all documents, including but not limited to: applications, agreements, payment requests and so on, which may be necessary for the completion of the aforementioned project. PASSED AND ADOPTED by the Board of Directors of the Truckee Donner Public Utility District in a meeting duly called and held within said District on the 7th day of November 2007. AYES:Directors Aguera, Hemig, Sutton, Taylor and Thomason NOES: None ABSTAIN: None ABSENT: None TRUCKEE DONNER PUBLIC UTILITY DISTRICT Tim F. Taylor, P e,pident ATTEST/ J n . Ulrich, rict Jerk 2 Res. 2007-29 A majority vote of Employer's Governing Body at a public meeting held on the 7 t h day of the month of November 2007, authorized entering into this Agreement. Signature of the Presiding Officer: `�•�._... Printed Name of the Presiding Officer: Tim F. Taylor Name of Governing Body: Name of Employer: Truckee Donner Public Utility District Date: November 8 , 2007 BOARD OF ADMINISTRATION CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM BY KENNETH W. MARZION ACTUARIAL AND EMPLOYER SERVICES BRANCH CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM To be completed by CalPERS The effective date of this Agreement is: Rev tot t ot2007 10 1. Personal delivery. When personally delivered to the recipient. Notice is effective on delivery. 2. First Class Mail. When mailed first class to the last address of the recipient known to the party giving notice. Notice is effective three delivery days after deposit in a United States Postal Service office or mailbox. 3. Certified mail. When mailed certified mail, return receipt requested. Notice is effective on receipt, if delivery is confirmed by a return receipt. 4. Overnight Delivery. When delivered by an overnight delivery service, charges prepaid or charged to the sender's account, Notice is effective on delivery, if delivery is confirmed by the delivery service. 5. Telex or Facsimile Transmission. When sent by telex or fax to the last telex or fax number of the recipient known to the party giving notice. Notice is effective on receipt, provided that (i) a duplicate copy of the notice is promptly given by first-class or certified mail or by overnight delivery, or(ii) the receiving party delivers a written confirmation of receipt. Any notice given by telex or fax shall be deemed received on the next business day if it is received after 5:00 p.m. (recipient's time) or on a nonbusiness day. 6. E-mail transmission. When sent by e-mail using software that provides unmodifiable proof(i) that the message was sent, (ii) that the message was delivered to the recipient's information processing system, and (iii) of the time and date the message was delivered to the recipient along with a verifiable electronic record of the exact content of the message sent. Addresses for the purpose of giving notice are as shown in Paragraph B.(1) of this Agreement. (b) Any correctly addressed notice that is refused, unclaimed, or undeliverable because of an act or omission of the party to be notified shall be deemed effective as of the first date that said notice was refused, unclaimed, or deemed undeliverable by the postal authorities, messenger or overnight delivery service. (c) Any party may change its address, telex, fax number, or e-mail address by giving the other party notice of the change in any manner permitted by this Agreement. Rev 10/1012007 8 (4) After Employer's participation in the Prefunding Plan terminates, disbursements from Employer's Prefunding Account may continue upon Employer's instruction or otherwise in accordance with the terms of this Agreement. (5) After thirty-six (36) months have elapsed from the effective date of this Agreement: (a) Employer may request a trustee to trustee transfer of the assets in Employer's Prefunding Account. Upon satisfactory showing to the Board that the transfer will satisfy applicable requirements of the Internal Revenue Code and the Board's fiduciary duties, then the Board shall effect the transfer within one hundred twenty (120) days. The amount to be transferred shall be the amount in the Employer's Prefunding Account as of the disbursement date and shall include investment earnings up to the investment earnings allocation date immediately preceding the disbursement date. In no event shall the investment earnings allocation date precede the transfer by more than 120 days. (b) Employer may request a disbursement of the assets in Employer's Prefunding Account. Upon satisfactory showing to the Board that all of Employer's obligations for payment of post employment health care benefits and other post employment benefits and reasonable administrative costs of the Board have been satisfied, then the Board shall effect the disbursement within one hundred twenty (120) days. The amount to be disbursed shall be the amount in the Employer's Prefunding Account as of the disbursement date and shall include investment earnings up to the investment earnings allocation date immediately preceding the disbursement date. In no event shall the investment earnings allocation date precede the disbursement by more than 120 days. (6) After Employer's participation in the Prefunding Plan terminates and at such time that no assets remain in Employer's Prefunding Account, this Agreement shall terminate. (7) If, for any reason, the Board terminates the Prefunding Plan, the assets in Employer's Prefunding Account shall be paid to Employer after retention of(i) amounts sufficient to pay post employment health care benefits and other post employment benefits to annuitants for current and future annuitants, and (ii) amounts sufficient to pay reasonable administrative costs of the Board. (8) If Employer ceases to exist but Employer's Prefunding Plan continues to exist and if no provision has been made by Employer for ongoing payments to pay post employment health care benefits and other post employment benefits to annuitants for current and future annuitants, the Board is authorized to and shall appoint a third party administrator to carry out Employer's Prefunding Plan. Any and all costs associated Rev 10/10/2007 6 D. Administration of Accounts, Investments, Allocation of Income (1) The Board has established the Prefunding Plan as an agent plan consisting of an aggregation of single-employer plans, with pooled administrative and investment functions, under the terms of which separate accounts will be maintained for each employer so that Employer's assets will provide benefits only under employer's plan. (2) All Employer contributions and assets attributable to Employer contributions shall be separately accounted for in the Prefunding Plan (Employer's Prefunding Account). (3) Employer's Prefunding Account assets may be aggregated with prefunding account assets of other employers and may be co-invested by the Board in any asset classes appropriate for a Section 115 Trust. (4) The Board may deduct the costs of administration of the Prefunding Plan from the investment income or Employer's Prefunding Account in a manner determined by the Board. (5) Investment income shall be allocated among employers and posted to Employer's Prefunding Account as determined by the Board but no less frequently than annually. (6) If Employer's assets in the Prefunding Plan exceed the amount required to fully fund the actuarial present value of total projected benefits, the Board, in compliance with applicable accounting and legal requirements, may return such excess to Employer. E. Reports and Statements (1) Employer shall submit with each contribution a contribution report in the form and containing the information prescribed by the Board. (2) The Board shall prepare and provide a statement of Employer's Prefunding Account at least annually reflecting the balance in Employer's Prefunding Account, contributions made during the period and income allocated during the period, and such other information as the Board determines. F. Disbursements (1) Employer may receive disbursements not to exceed the annual premium and other costs of post employment healthcare benefits and other post employment benefits. (2) Employer shall notify CalPERS in writing in the manner specified by CalPERS of the persons authorized to request disbursements from the Prefunding Plan on behalf of Employer. Rev 10/10/2007 4 NOW, THEREFORE, BE IT RESOLVED THAT EMPLOYER HEREBY MAKES THE FOLLOWING REPRESENTATION AND WARRANTY AND THAT THE BOARD AND EMPLOYER AGREE TO THE FOLLOWING TERMS AND CONDITIONS: A. Representation and Warranty Employer represents and warrants that it is a political subdivision of the State of California or an entity whose income is excluded from gross income under Section 115 (1) of the Internal Revenue Code. B. Adoption and Approval of the Agreement; Effective Date; Amendment (1) Employer's governing body shall elect to participate in the Prefunding Plan by adopting this Agreement and filing with the CalPERS Board a true and correct original or certified copy of this Agreement as follows: Filing by mail, send to: CaIPERS Constituent Relations Office CERBT (OPEB) P.O. Box 942709 Sacramento, CA 94229-2709 Filing in person, deliver to: CaIPERS Mailroom Attn: Employer Services Division 400 Q Street Sacramento, CA 95814 (2) Upon receipt of the executed Agreement, and after approval by the Board, the Board shall fix an effective date and shall promptly notify Employer of the effective date of the Agreement. (3) The terms of this Agreement may be amended only in writing upon the agreement of both CalPERS and Employer, except as otherwise provided herein. Any such amendment or modification to this Agreement shall be adopted and executed in the same manner as required for the Agreement. Upon receipt of the executed amendment or modification, the Board shall fix the effective date of the amendment or modification. (4) The Board shall institute such procedures and processes as it deems necessary to administer the Prefunding Plan, to carry out the purposes of this Agreement, and to maintain the tax exempt status of the Prefunding Plan. Employer agrees to follow such procedures and processes. Rev 10/10/2007 2 Truckee Bonner Public Utility District Board of Directors Joseph R.Aguera ` J.Ronald Hemig Business Office (530) 587-3896 FAX (530) 587-5056 Patricia S.Sutton Tim Taylor William L.Thomason General Manager Peter L.Holzmeister November 7, 2007 Sierra Nevada Conservancy 11521 Blocker Drive, Suite 205 Auburn, California 95603 Dear Sirs: The Truckee Donner Public Utility District (District) is interested in applying for a funding grant under the Competitive Gants program administered by the Sierra Nevada Conservancy. The District is currently in the planning and design stages for a project entitled the Residential Water Meter Retrofit project. This program involves the installation of water meters and meter reading equipment on all residential customers served by the District's public water system. A number of studies have been conducted regarding the impact of water metering and tiered water rates upon water consumption at the residential level. Based upon these studies, a reduction in water consumption of between 10 and 20 percent can be expected. The District believes that the Residential Water Meter Retrofit project falls within the "Protect and Improve Water and Air Quality"program area of the grant program. There are four specific subareas within this general area. 1) Water Conservation Efforts and Programs 2) Integrated Projects to enhance natural water storage capacity 3) Projects to enhance resiliency of natural water storage resources 4) Infrastructure Needs for Wastewater Systems Neil Kaufman, the District's Water System Engineer is the project manager for this project. If you have any questions, or require further information, please contact him directly at 530-582- 3950. 1 thank you for consideration of this grant application and look forward to your response. Sincerely, Tim Taylor President, Truckee Donner Public Utility District Post Office Box 309 11570 Donner Pass Road Truckee, California 96160