|
ITEM: |
CONSENT
CALENDAR |
||||
|
|
|||||
|
2. |
AUTHORIZE EXPENDITURE OF
BUDGETED FUNDS FOR FINANCIAL SERVICES CONSULTING IN SUPPORT OF DISTRICT’S
TESTIMONY IN CPUC APPLICATION NO. 12-04-019 |
||||
|
|
|||||
|
Meeting
Date: |
April 1, 2013 |
Budgeted: |
Yes |
||
|
|
|||||
|
From: |
David J.
Stoldt |
Program/ |
Other Water Supply |
||
|
|
General
Manager |
|
Projects – Desal |
||
|
|
|
Line Item No.: |
1-8-1 |
||
|
|
|||||
|
Prepared
By: |
David J.
Stoldt |
Cost Estimate: |
$25,000 (FY2013) |
||
|
|
|||||
General Counsel Approval: N/A |
|||||
Committee Recommendation: N/A |
|||||
|
CEQA Compliance: N/A |
|||||
SUMMARY: At its January 14, 2013 Special Meeting, the Board authorized the hiring of Raymond James Morgan Keegan and Sidley Austin to provide expert testimony in support the District and the Mayors’ Authority October 2012 “Public Agency Participation Proposals” to California American Water (Cal-Am) as part of the CPUC proceeding A.12-04-019 and the Governance Concepts and Capital Financing Alternatives included in testimony submitted on February 22, 2013.
Cal-Am’s rebuttal testimony submitted March 8th included six witnesses refuting the District’s financing proposal. In order to adequately address and counteract the rebuttal testimony, the District desires to expand the contract of Sidley Austin to develop a transaction memorandum, as well as assist with cross-examination and briefs.
RECOMMENDATION: The General Manager recommends that the Board of Directors approve additional services from Sidley Austin and the additional expenditure not to exceed $25,000. The bond counsel services cost would be borne solely by the District.
BACKGROUND: The District has made several proposals with respect to financing the Cal-Am desalination facility. Sidley Austin has been advisor to the District on bond counsel matters since the 1992 Reclamation Project financing.
EXHIBIT
None
U:\staff\Boardpacket\2013\20130401\02\item2.docx