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HomeMy WebLinkAbout17-083 - Resolutions - STREET LIGHTING MAINTENANCE RESOLUTION NO. 17-083 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO CUCAMONGA, CALIFORNIA, AMENDING AN APPROVED INTERFUND LOAN FROM CAPITAL RESERVE FUND 025 TO STREET LIGHTING MAINTENANCE DISTRICT NOS. 1, 2, 3, 4, 5, 6, 7, AND 8 (FUNDS 151 TO 158) FOR AN INCREASED AMOUNT NOT TO EXCEED $14,400,340 TO INCLUDE INSTALLATION OF LED LIGHTING TO STREETLIGHTS, INTERSECTIONS, AND BRIDGES; INSTALLATION OF LED SMART LIGHTING; AND OTHER ONE-TIME COSTS NECESSARY TO INVENTORY THE STREETLIGHTS WHEREAS, On February 9, 2016, the City received a final system valuation from Southern California Edison ("SCE") for the purchase of 15,299 LS-1 Streetlights ("Streetlights") in the City of Rancho Cucamonga ("City"); and WHEREAS, on June 15, 2016, the City Council found it to be in the best interest of the City to move forward with the purchase of the Streetlights and authorized the City Manager to sign the Purchase and Sale Agreement between the City and SCE, and to cover all associated costs, through an Interfund Loan from Capital Reserve Fund 025 ("City Infrastructure Reserve") to Street Lighting Maintenance District Nos. 1, 2, 3, 4, 5, 6, 7, and 8 (Funds 151 to 158) (each a "District" and collectively the "Districts"); and WHEREAS, on August 3, 2016, the City Council adopted Resolution No. 16-121 authorizing an interfund loan from the City Infrastructure Reserve to the Districts in an amount not to exceed $9,660,284 for the purchase of the Streetlights from SCE; and WHEREAS, on May 26, 2017, the CPUC approved the purchase and sale of the Streetlights between the City and SCE; and WHEREAS, on July 19, 2017, the City Council approved the Annual Engineer's Reports of the Districts for Fiscal Year 2017/18 that described the improvements and services to each District, including the acquisition by the City of the Streetlights and the installation of Light Emitting Diode (LED) street lighting specially benefiting the properties within the Districts to be added as improvements, and that there would be no increase in the special benefit to the properties within the Districts as a result of the acquisition; and WHEREAS, in order to fund the purchase and acquisition of SCE owned streetlights; installation of LED lighting to streetlights, intersections, and bridges; installation of LED Smart Lighting; and other one- time costs necessary to inventory the streetlights, the City Council finds that it is in the public's interest to increase the amount of the interfund loan from $9,660,284 to $14,400,340. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RANCHO CUCAMONGA, HEREBY RESOLVES, to amend Resolution No. 16-121 as follows: 1. Increase the amount of the Interfund Loan from $9,660,284 to $14,400,340 for the purchase and acquisition of SCE owned streetlights; installation of LED lighting to streetlights, intersections, and bridges; installation of LED Smart Lighting; and other one-time costs necessary to inventory the streetlights; and 2. Initiate the commencement of the Interfund Loan at the time in which payments are due to SCE or to the applicable vendor. Resolution No. 17-083— Page 1 of 2 PASSED, APPROVED, AND ADOPTED this 161h day of August, 2017. L. Dennis Michael, Mayor ATTEST: nice C. Reynolds, Clerk STATE OF CALIFORNIA ) COUNTY OF SAN BERNARDINO ) ss CITY OF RANCHO CUCAMONGA ) I, Janice C. Reynolds, City Clerk of the City of Rancho Cucamonga, do hereby certify that the foregoing Resolution was duly passed, approved, and adopted by the City Council of the City of Rancho Cucamonga, at a Regular Meeting of said Council held on the 1611 day of August 2017. AYES: Alexander, Kennedy, Michael, Spagnolo, Williams NOES: None ABSENT: None ABSTAINED: None Executed this 171h day of August 2017 at Rancho Cucamonga, California. �9Q/YLf.I�� L'. GGA ice C. Reynolds, Cler Resolution No. 17-083 — Page 2 of 2