RESOLUTION NO. 2025-080
A RESOLUTION OF THE CITY OF CHINO AUTHORIZING THE EXECUTION AND DELIVERY OF AN INSTALLMENT SALE AGREEMENT BETWEEN THE CITY OF CHINO AND THE STATE WATER RESOURCES CONTROL BOARD RELATING TO FINANCING OF THE STATE STREET WATER TREATMENT PLANT (WA212), AUTHORIZING THE AUTHORIZED OFFICERS TO EXECUTE ON BEHALF OF THE CITY, AND APPROVING OTHER MATTERS IN CONNECTION THEREWITH WHEREAS, the City of Chino (the “City”), proposes to undertake the financing of certain improvements to the City’s potable water system known as the State Street Water Treatment Plant (included in the City’s Capital Improvement Program as the Project Number WA212 (the “Project”); and WHEREAS, the State of California has established its Drinking Water State Revolving Fund (the “DWSRF”) pursuant to Section 116760 of the Health and Safety Code; and WHEREAS, the Council adopted Resolution No. 2025-001 (“Authorizing Resolution”) and Resolution No. 2025-002 (“Reimbursement Resolution”) on January 7, 2025, and has submitted the requisite application to the California State Water Resources Control Board (the “CSWRCB”); and WHEREAS, this City Council has determined that it is in the best interest of the City to obtain moneys (the “Project Funds”) from the DWSRF for the purpose of financing all or a portion of the Project; and WHEREAS, the Project Funds will be evidenced by an Installment Sale Agreement (the “Financing Agreement”) between the City and the CSWRCB; and WHEREAS, the terms of the Financing Agreement include a Project funding amount of $60,000,000 with a 1.9% interest rate over 30 years and $25,000,000 principal forgiveness grant; and WHEREAS, this City Council has determined to authorize the execution and delivery of the Financing Agreement for the purpose of financing all or a portion of the Project; NOW, THEREFORE, THE CHINO CITY COUNCIL HEREBY FINDS, DETERMINES, DECLARES AND RESOLVES AS FOLLOWS:
1. The incurrence of the Project Funds in the principal amount estimated at $60,000,000 to finance all or a portion of the Project is hereby approved. The incurrence of the Project Funds is determined to be consistent with the City’s debt policy and to the extent the incurrence of the Project Funds is not in compliance with the City’s debt policy, such noncompliance is waived in accordance with the terms of the City’s debt policy.
2. The Financing Agreement in substantially the form on file with the City is hereby approved. The City Manager (an “Authorized Officer’) is hereby individually authorized and directed to execute and deliver the Financing Agreement with such changes, insertions and omissions as may be recommended by the City Attorney and approved by the Authorized Officer executing the same, said execution being conclusive evidence of such approval.
3. The Authorized Officer (City Manager) or the written designee thereof and any other proper officer of the City, acting singly, is authorized, and directed to execute and deliver any and all documents and instruments, including amendments thereto, certifying disbursement requests on behalf of City, and to do and cause to be done any and all acts and things necessary or proper for carrying out the transactions contemplated by the Financing Agreement and this resolution.
4. Unless otherwise defined herein, all terms used herein and not otherwise defined shall have the meanings given such terms in the Financing Agreement unless the context otherwise clearly requires.
5. This Resolution shall take effect immediately.
NOW, THEREFORE, BE IT RESOLVED, the City Council of the City of Chino authorizes the execution of the Financing Agreement with the California State Water Resources Control Board under the Drinking Water State Revolving Fund (DWSRF).
APPROVED AND ADOPTED THIS 18TH DAY OF November 2025
By: ____________________________
EUNICE M. ULLOA, MAYOR
ATTEST:
By: _____________________________
NATALIE GONZAGA, CITY CLERK
STATE OF CALIFORNIA )
COUNTY OF SAN BERNARDINO ) ss
CITY OF CHINO )
I, Natalie Gonzaga, City Clerk of the City of Chino, do hereby certify that the foregoing resolution was duly adopted by the City Council of the City of Chino at their regular meeting on the 18th day of November 2025, and carried by the following vote:
AYES:
NOES:
ABSENT:
Natalie Gonzaga
City Clerk
01225.0023 2006836.1
01225.0023 2006836.1
Resolution No. 2025-080