Resolutions - Jersey City

City Clerk File No. Res. 09-724Agenda No.1O.VApproved: SEP 0 9 2009TITLE:RESOLUTION OF THE CITY OF JERSEY CITY CONSENTING TO THEUNDERTAKING OF CERT AIN CAPITAL PROJECTS BY THE JERSEY CITYMUNICIPAL UTILITIES AUTHORITYWHEREAS, the City of Jersey City (the "City") and the Jersey Municipal Utilities Authority (fonnerly the Jersey City SewerageAuthority) (the "Authority") have entered into a Service Contract with respect to the Sewer System on December i, 1985, as amended byAmendment NO.1 to the Sewer Service Contract dated as ofMay 1,2003 (collectively, the "Sewer Service Contrct"); andWHEREAS, the City and the Authority have entered into an Amended and Restated WaterAgreement, dated as ofMay 1,2005 (the "Water Service Contrct"); andServices Franchise and ServiceWHEREAS, Section (; offmance capital projects concerningthe Sewer Service Contract, as amended, provides that the Authority may not issue debt obligations tothe Sewer System until those capital projects have been presented to and approved by resolution ofCity Council as well as by certificate of the Mayor or his representative; andWHEREAS, Section 204(a) ofthe Water Service Contract provides that the Authority may not issue debt obligations to fmancecapital projects concerning the Water System (collectively with the Sewer System. the "System") until those capital projects have beenpresented to and approved by resolution of the City Council as well as by certificate of tie Mayor or his representative; andWHEREAS, Section 205(b) of the Water Service Contract provides that to the extent bonds issued by the Authority to fudimprovements to the Water System shall extend past the tenn ofthe Frachise Period, the bonds shall be subject to approval by resolutionof the City Council as well as by certificate ofthe Mayor or his representative; andWHEREAS, the Frachise Period is defmed by the Water Service Contract to tenninate on December 31,2027; andWHREAS, in consultation with the Authority's engineers and the Deparent of Environmental Protection, the Authority hasdetennined that the capital projects outlined in Exhibit A, attched hereto and by this reference incorporated herein, are necessai andappropriate to continue the operations ofthe System in proper order; andWHEREAS, in connection with the improvements to the Authority's Water Treatment Plant in Parsippany-Troy Hils, NewJersey identified as item 4 on Exhibit A, the fial principal payment date would be Augut 1,2029 with respect to the bonds issuedthough paricipation in the New Jersey Envionmental Infrtrctue Trut toeighteen month after the conclusion ofthe Frachise Period; andfud these improvements, thereby occuring approximatelyWHREAS, the Authority desires to obtain the approval ofthe City Council to underte these capital projects,theNOW, THEREFORE, BE IT RESOLVED by the City Council ofthe City of Jersey City as follows:to the undertg ofSection 1. Puruant to the Sewer Service Contract, as amended, and the Water Service Contrct, the City hereby consentsthe capital projects delineated in Exhibit A, attched hereto, by the Authority.Section 2. Puuat to the Water Service Contrct, the City hereby consents to the issuace of bonds to fud theimprovements to the Water Treat Plant in Parippany-Troy Hils, New Jersey.Section 3.APPROVED:APPROVED:APPROVED AS TO LEGAL FORMNot Reeuired 0APPROVED 9 - 0!J1!J/U9RECORD OF COUNCIL VOTE ON FINAL PASSAGECOUNCILPERSON AYE NAY N.V. COUNCILPERSON AYE NAY N.V. COUNCILPERSON AYE NAY N.V.SOTTOLÄNO II GAUGHAN'./ BRENNAN ./KENY '7 FULOP,/ FLOD /LOPEZV RICHARDSON./ VEGA, PRES.,/N.V.-Not Vofing (Abstain)ii of the City of Jersey Cit, N.J.