Res 1986-028 - Laserfiche WebLink

Home Browse Search

It is understood that the Engineers will have the primary responsibility for accomplishing Phase I studies as set forth herein. However, in recog- nition of the fact that Saffer is to be under contract with the City related to the four phase study, data and other information requests ex- pressed by Saffer shall be coordinated with those of the Engineers. Copies of information obtained by both the Engineers and Saffer are to be made available to the other. It is the intent of the City for Saffer to review the working papers and the report of the Engineers so that Saffer will be in a position to give independent comment to the City on the feasibility of the potential electric distribution system purchase. Copies of the Engineers work papers and draft report shall be made available to Saffer to assist in the Saffer review. PHASE II - NEGOTIATION RELATED TO PURCHASE It is currently contemplated that upon review of the findings of the Phase I report by the City, the City will proceed with negotiations with LCRA related to the purchase, including negotiation of the effective date of purchase, negotiation of purchase agreement including purchase price and conditions related thereto, negotiation of potential agreement for LCRA to operate the electric utility distribution system of the City for a period of years, and negotiate other matters related to the potential purchase. It is understood that Saffer will have primary responsibility for assisting the City in the negotiation phase of the work. The Engineers are to pro- vide technical data and assistance to Saffer and the City in negotiations related to the purchase agreement and operating agreement. Services by the Engineers will be as requested by the City at the time of need. PHASE III - CITY APPROVAL OF PURCHASE It is currently contemplated that upon completion of negotiation of the terms of necessary agreements for the purchase and operation of the elec- tric utility distribution system, both the Engineers and Saffer will be requested by the City to assist in communicating with the public and other interested parties information regarding the proposed acquisition. Such assistance may be related but not limited to a potential bond election, obtaining approvals of regulatory or other affected agencies, and making information to possible potential investors. Services by the Engineers will be as requested by the City at the time of need. PHASE IV - FINANCING OF PURCHASE It is currently contemplated that upon voter and/or other approval of the purchase of the electric utility distribution system by the City, it will be necessary to update the engineering feasibility report to recognize negotiated and approved purchase conditions and price, anticipated bond financing terms, and other elements essential, from the Engineers' stand- point, to assist the City in obtaining financing of the purchase. The full scope of services needed with regard to bond financing will need to be more definitively established at a later date but may be expected to include, but not necessarily be limited to updated financial and engineering feasi- bility report and certification, statements as to condition of the system, evaluation of proposed debt financing program, presentations before bond rating agencies, review of ordinances and other documents related to the 3