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Home My WebLink About04.b. (Handout) Replacement Pages for POS and Indenture � v Item 4.b. (Committee Handout) (c) the proceeds derived by the District directly or indirectly from the sale,lease or other disposition of a part of the Wastewater System as permitted in the Indenture. The term"Gross Revenues"does not include(i)Tax Revenues,(ii)customers'deposits or any other deposits subject to refund until such deposits have become the property of the District, (iii) the proceeds of any ad valorem property taxes levied for the purpose of paying general obligation bonds of the District relating to the Wastewater System, and (iv)the proceeds of any special assessments or special taxes levied upon real property within any improvement district for the purpose of paying special assessment bonds or special tax obligations of the District relating to the Wastewater System. "Operation and Maintenance Costs" means the reasonable and necessary costs paid or incurred by the District for maintaining and operating the Wastewater System,determined in accordance with generally accepted accounting principles,including but not limited to(a)all reasonable expenses of management and repair and other expenses necessary to maintain and preserve the Wastewater System in good repair and working order,and(b)all administrative costs of the District that are charged directly or apportioned to the operation of the Wastewater System, such as salaries and wages of employees,employee benefits(including actuarial annual pension nayment)._overhead,taxes(if any) and insurance. "Operating and Maintenance Costs"do not include(i)administrative costs of the Bonds which the District is required to pay under the Indenture,(ii)payments of debt service on bonds,notes or other obligations issued by the District with respect to the Wastewater System,(iii)depreciation,replacement and obsolescence charges or reserves therefor, and (iv) amortization of intangibles or other bookkeeping entries of a similar nature includin without 6mdation GASB ear-end adUstments atlnbutable to pension and OPEB . - — 'Tax Revenues"means all ad valorem taxes allocable to the Wastewater System which are levied upon taxable property in the District by the Board of Supervisors of Contra Costa County, and which are allocated to the District under the provisions of Chapter 6 of Part 0.5 of Division 1 of the Revenue and Taxation Code of the State of California, including all payments, subventions and reimbursements,if any,to the District specifically attributable to taxes lost by reason of tax exemptions and tax rate limitations;but excluding any taxes levied for the sole purpose of providing for payment of principal and interest on any voter-approved indebtedness incurred by the District, which taxes would not otherwise be subject to levy but for the issuance of such indebtedness. "Concord Agreement"means that certain Agreement,dated September 10. 1974,between the District and the City of Concord,as amended from time to time,including as amended on November 16, 1976,on June 11, 1982,on October 6, 1985,on June 18, 1987,and on April 9,2002. Concord Agreement Gross Revenues includes payments received by the District under the Concord Agreement. See'THE DISTRICT—Concord Agreement"for a description of the Concord Agreement. Flow of Funds under the Indenture The District previously established the"Wastewater System Funds,"which the District agrees in the Indenture to continue to hold and maintain for the purposes and uses set forth in the Indenture. The District agrees to deposit all of the Tax Revenues and Gross Revenues in the Wastewater System Funds immediately upon receipt In addition to the transfers required to be made under any Parity Obligations,the District will withdraw amounts on deposit in the Wastewater System Funds and apply such amounts at the times and for the purposes,and in the priority,as follows: 10 (c) the proceeds derived by the District directly or indirectly from the sale, lease or other disposition of a part of the Wastewater System as permitted in the Indenture. The term "Gross Revenues" does not include (i) Tax Revenues, (ii) customers' deposits or any other deposits subject to refund until such deposits have become the property of the District, (iii) the proceeds of any ad valorem property taxes levied for the purpose of paying general obligation bonds of the District relating to the Wastewater System, and (iv) the proceeds of any special assessments or special taxes levied upon real property within any improvement district for the purpose of paying special assessment bonds or special tax obligations of the District relating to the Wastewater System. "Operation and Maintenance Costs" means the reasonable and necessary costs paid or incurred by the District for maintaining and operating the Wastewater System, determined in accordance with generally accepted accounting principles, including but not limited to (a) all reasonable expenses of management and repair and other expenses necessary to maintain and preserve the Wastewater System in good repair and working order, and (b) all administrative costs of the District that are charged directly or apportioned to the operation of the Wastewater System, such as salaries and wages of employees, employee benefits (including actuarial annual pension payment), overhead, taxes (if any) and insurance. "Operating and Maintenance Costs"do not include (i) administrative costs of the Bonds which the District is required to pay under the Indenture, (ii) payments of debt service on bonds, notes or other obligations issued by the District with respect to the Wastewater System, (iii) depreciation, replacement and obsolescence charges or reserves therefor, and (iv) amortization of intangibles or other bookkeeping entries of a similar nature (including, without limitation, GASB year-end adjustments attributable to pension and OPER). "Tax Revenues" means all ad valorem taxes allocable to the Wastewater System which are levied upon taxable property in the District by the Board of Supervisors of Contra Costa County, and which are allocated to the District under the provisions of Chapter 6 of Part 0.5 of Division 1 of the Revenue and Taxation Code of the State of California, including all payments, subventions and reimbursements, if any, to the District specifically attributable to taxes lost by reason of tax exemptions and tax rate limitations; but excluding any taxes levied for the sole purpose of providing for payment of principal and interest on any voter-approved indebtedness incurred by the District, which taxes would not otherwise be subject to levy but for the issuance of such indebtedness. "Concord Agreement" means that certain Agreement, dated September 10, 1974, between the District and the City of Concord, as amended from time to time, including as amended on November 16, 1976, on June 11, 1982, on October 6, 1985, on June 18, 1987, and on April 9, 2002. Concord Agreement Gross Revenues includes payments received by the District under the Concord Agreement. See 'THE DISTRICT—Concord Agreement"for a description of the Concord Agreement. Flow of Funds under the Indenture The District previously established the"Wastewater System Funds,"which the District agrees in the Indenture to continue to hold and maintain for the purposes and uses set forth in the Indenture. The District agrees to deposit all of the Tax Revenues and Gross Revenues in the Wastewater System Funds immediately upon receipt. In addition to the transfers required to be made under any Parity Obligations, the District will withdraw amounts on deposit in the Wastewater System Funds and apply such amounts at the times and for the purposes, and in the priority, as follows: 10 PD-S Comparative Sewer Service Charges.Set forth in the following table is a comparison of the District's sewer service charges to rates In the surrounding region. TABLE 9 CENTRAL CONTRA COSTA SANITARY DISTRICT Comparative Annual Sewer Charges i July 20187 Annual Sewer A enc Service Charge t'H't Saata Rase egg Berkley tEBMUDf2r treatment] 1.379 Santa Rosa 1 3224, t1,Q*W*P14i entoi gggrS71 o anit District Benicia 993 Petaluma gLI949 Richmond 24 QeMckett Sanilgry Department 9ak#afld 740769 (E8M 60g1 . Fa'^T akReRe Rl) Oakland[EBMUD for 764767 8epaomen' Napa Sanitation District 636676 rentwoo L-ivewge�e 90493 Liver=raSfaRlweed 623§1u Novato 654615 Concord(CCCSD for treatment) 647592 Mt View Sanitary District 674591 West County Wastewater District "1 M Central San 567 Pleasanion[DSRSD for 694560 treatment Ri &bwg4Beka Dialme fec tri) &49 Stege SD(EBMUD for treatment) &33546 EeRt* Sar Egg - Vallejo 520 Pittsburg{Delta Diablo for treatment 491 Fairfield lFSSD) 468 Antioch(Delta Diablo for treatment) 6&1157 Dublin San Ramon ervices District 423 Bay Point(Delta Diablo for treatment) 602421 Union Sanitary District 393407 r 01311.SaR e.,.......� - - 197 Oro Loma Sanitary District 248256 (1) Annual Sewer Service Charge per Single Family Residence.or SFR (2) Rates in effect on Juiy 1 of FY 201x7-189(July 1.20179) 33 Comparative Sewer Service Charges. Set forth in the following table is a comparison of the District's sewer service charges to rates in the surrounding region. TABLE 9 CENTRAL CONTRA COSTA SANITARY DISTRICT Comparative Annual Sewer Charges July 2018 Annual Sewer Agency Service Charge(')(2) Berkeley(EBMUD for treatment) $1,379 Santa Rosa 1,322 Benicia 971 Rodeo Sanitary DistrictBenicia 962 Petaluma 953 Richmond 824 Crockett Sanitary Department 789 Oakland (EBMUD for treatment) 767 Napa Sanitation District 676 Brentwood 653 Livermore 632 Novato 615 Concord (CCCSD for treatment) 592 Mt View Sanitary District 591 West County Wastewater District 576 Central San 567 Pleasanton (DSRSD for treatment) 560 Stege SD (EBMUD for treatment) 546 Vallejo 520 Pittsburg (Delta Diablo for treatment) 491 Fairfield (FSSD) 468 Antioch (Delta Diablo for treatment) 457 Dublin San Ramon Services District 423 Bay Point (Delta Diablo for treatment) 421 Union Sanitary District 407 Oro Loma Sanitary District 256 (1) Annual Sewer Service Charge per Single Family Residence,or SFR. (2) Rates in effect on July 1 of FY 2018-19(July 1,2018) 33 remaining after payment of all expenses (including attorneys' fees) incurred in the collection of such proceeds. "Net Revenues" means, for any period, an amount equal to all of the Gross Revenues received during such period minus the amount required to pay all Operation and Maintenance Costs coming payable during such period. "Nominee" means (a) initially, Cede & Co. as nominee of DTC, and (b) any other nominee of the Depository designated under Section 2.04(a). "Office" means, with respect to the Trustee, the corporate trust office of the Trustee at the address set forth in Section 9.09, or at such other or additional offices as may be specified by the Trustee in writing to the District; except that with respect to presentation of Bonds for payment or for registration of transfer and exchange, such term means the office or agency of the Trustee at which, at any particular time, its corporate trust agency business is conducted. "Operation and Maintenance Costs" means the reasonable and necessary costs paid or incurred by the District for maintaining and operating the Wastewater System, determined in accordance with generally accepted accounting principles, including but not limited to (a) all reasonable expenses of management and repair and other expenses necessary to maintain and preserve the Wastewater System in good repair and working order, and (b) all administrative costs of the District that are charged directly or apportioned to the operation of the Wastewater System, such as salaries and wages of employees, employee benefits includin actuarial annual ension a menti, overhead, taxes (if any) and insurance. "Operating and Maintenance Costs" do not include (i) administrative costs of the Bonds which the District is required to pay hereunder, (ii) payments of debt service on bonds, notes or other obligations issued by the District with respect to the Wastewater System, (iii) depreciation, replacement and obsolescence charges or reserves therefor, and (iv) amortization of intangibles or other bookkeeping entries of a similar nature includin without limitation GASB year-end adjustments attributable to pension and OPEB). "Original Purchaser" means Piper Jaffray & Co., as the original purchaser of the Bonds upon their delivery by the Trustee on the Closing Date. "Outstanding', when used as of any particular time with reference to Bonds, means all Bonds theretofore, or thereupon being, authenticated and delivered by the Trustee under this Indenture except: (a) Bonds theretofore canceled by the Trustee or surrendered to the Trustee for cancellation; (b) Bonds with respect to which all liability of the District has been discharged in accordance with Section 9.03; (c) Bonds for the transfer or exchange of or in lieu of or in substitution for which other Bonds shall have been authenticated and delivered by the Trustee under this Indenture; and (d) Bonds which are required to be disregarded and not deemed Outstanding under Section 9.05. "Owner", when used with respect to any Bond, means the person in whose name the ownership of such Bond is registered on the Registration Books. "Parity Obligations" means bonds, notes, loan agreements, installment sale agreements. leases or other obligations of the District payable from and secured by a A-5 remaining after payment of all expenses (including attorneys' fees) incurred in the collection of such proceeds. C "Net Revenues" means, for any period, an amount equal to all of the Gross Revenues received during such period minus the amount required to pay all Operation and Maintenance Costs coming payable during such period. "Nominee" means (a) initially, Cede & Co. as nominee of DTC, and (b) any other nominee of the Depository designated under Section 2.04(a). "Office" means, with respect to the Trustee, the corporate trust office of the Trustee at the address set forth in Section 9.09, or at such other or additional offices as may be specified by the Trustee in writing to the District; except that with respect to presentation of Bonds for payment or for registration of transfer and exchange, such term means the office or agency of the Trustee at which, at any particular time, its corporate trust agency business is conducted. "Operation and Maintenance Costs" means the reasonable and necessary costs paid or incurred by the District for maintaining and operating the Wastewater System, determined in accordance with generally accepted accounting principles, including but not limited to (a) all reasonable expenses of management and repair and other expenses necessary to maintain and preserve the Wastewater System in good repair and working order, and (b) all administrative costs of the District that are charged directly or apportioned to the operation of the Wastewater System, such as salaries and wages of employees, employee benefits (including actuarial annual pension payment), overhead, taxes (if any) and insurance. "Operating and Maintenance Costs" do not include (i) administrative costs of the Bonds which the District is required to pay hereunder, (ii) payments of debt service on bonds, notes or other obligations issued by the District with respect to the Wastewater System, (iii) depreciation, replacement and obsolescence charges or reserves therefor, and (iv) amortization of intangibles or other bookkeeping entries of a similar nature, (including, without limitation, GASB year-end adjustments attributable to pension and OPEB). "Original Purchaser' means Piper Jaffray & Co., as the original purchaser of the Bonds upon their delivery by the Trustee on the Closing Date. "Outstanding'% when used as of any particular time with reference to Bonds, means all Bonds theretofore, or thereupon being, authenticated and delivered by the Trustee under this Indenture except: (a) Bonds theretofore canceled by the Trustee or surrendered to the Trustee for cancellation; (b) Bonds with respect to which all liability of the District has been discharged in accordance with Section 9.03; (c) Bonds for the transfer or exchange of or in lieu of or in substitution for which other Bonds shall have been authenticated and delivered by the Trustee under this Indenture; and (d) Bonds which are required to be disregarded and not deemed Outstanding under Section 9.05. "Owner", when used with respect to any Bond, means the person in whose name the ownership of such Bond is registered on the Registration Books. "Parity Obligations" means bonds, notes, loan agreements, installment sale agreements, leases or other obligations of the District payable from and secured by a A-5