Title
a. Consider financing options for the Monterey County Water Resources Agency Interlake Tunnel Project;
b. Re-affirm authority for the County Administrative Officer to execute the Reimbursement and Funding Agreement between the County of Monterey and the Monterey County Water Resources Agency for Preliminary Engineering and Design, Water Rights Analysis, and Initial Program Management for the Inter Lake Tunnel Project dependent on direction provided regarding financing options; and
c. Approve & authorize a transfer of $500,000 in appropriations from General Fund Contingencies (001-1050-8034) to Contributions- Other Agencies (001-1050-8029) dependent on direction provided regarding financing options to provide for reimbursements related to the Funding Agreement. (4/5 vote required.) (ADDED VIA ADDENDUM)
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
a. Consider financing options for the Monterey County Water Resources Agency Interlake Tunnel Project;
b. Re-affirm authority for the County Administrative Officer to execute the Reimbursement and Funding Agreement between the County of Monterey and the Monterey County Water Resources Agency for Preliminary Engineering and Design, Water Rights Analysis, and Initial Program Management for the Inter Lake Tunnel Project dependent on direction provided regarding financing options; and
c. Approve & authorize a transfer of $500,000 in appropriations from General Fund Contingencies (001-1050-8034) to Contributions- Other Agencies (001-1050-8029) dependent on direction provided regarding financing options to provide for reimbursements related to the Funding Agreement. (4/5 vote required.)
SUMMARY:
On June 3, 2014, the Board of Supervisors of the County of Monterey authorized negotiation and execution of a funding agreement between Monterey County and the Monterey County Water Resources Agency for an amount not to exceed $500,000 for program management, engineering and environmen...
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