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tv   [untitled]    April 28, 2015 11:30pm-12:01am PDT

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m mrooesh what do we do until we get it fixed 2025 is a long time i received a copy of the plan but completely in december we're going to be receiving the document to see if it provides specific action and the urgscy to minimum plaintiffs misses the threat from water supply due to the failure of mountain tunnel i support of the second time they provide a necessary first step nothing can be done with the access you have right now but i'm looking at the plans and couple of questions keyed in on it does that emergency plan address the impact towards supply current with the way the current system mrooesh said 3 to 6 months and with the
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improvements it be will be handle within the local supply. >> we'll be enclosed to mit mid 2018 what's the plans to remove this from the risk and while it's great to say we have enter ties i don't know that our wholesalers will be willing to give us water we have to look at it closely second based on the conversations with the general manager mr. kelly and ms. howe i've been told no decision to only repair the tunnel it is predicament but i think that is not clear in the materials you received today it was evidence by some of the comments and i think that that clarity should be high priority and understand that completely and where those decision points are and third the lack of progress on mountain tunnel 6 hostilities the mode to have a schedule and budget that
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was adapted by this commission such information would ordinarily be in the plan this is a successful step for this time after time we've had to adapt those plans and force this commission and the leadership of our organization to reaffirm your ability to meet the schedules and goals and track if i understand that such a schedule and goal to can be made i ask you have this for adoption in may so the customers including the 1 point plus million can be chauffeured this practicing progress can be measured thank you very much that concludes my comments. >> thank you our next speaker is dick ellen.
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>> thank you, commissioners and i excuse me. especially want to thank commissioner president caen for the spirit of the discussion about mountain town hall it is very long over due i think did questions are right on target i came here with the hope of not having to make a presentation that i wrote out yesterday would be irrelevant by today i'd like to leave a if you comments first of all if we can take mountain town hall and put it in the the work or timeframe of black cloud that was a state audit it identified the diversities within in department i'm going to mention 3 it is slow passes in assessing the water delivery system and the performing
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details of the study and the failure of the commissioners to track capital projects passes by the projects they can be delayed or fall through the cracks jacobs associates study is a perfect example this was realized in 2008 and how many years did it take before it - the commission and to the public 6 years we have a 6 year gallop that nothing was discussed there's a solution and the solution is in today's report comic or i'm going to skip a lot of comments commissioners, i sincerely hope you'll begin to organize the commissioners performance spreadsheet and begin to calendar outline action items for monthly and quarterly review
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for need not discussions if you wait for you your staff tyler dba going to be detailed if you take the initiative and know there are due dates to be meet whether 6 o or 9 months all to close by saying this also in the future please does not require your water customer to come here and continuing ask for updates especially on the subject ever mountain town hall and emergency water delivery plan just to thank them for coming here is not enough you should be taking the initiative and make it unnecessary for people to come here. >> thank you our next speaker is dick morton.
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>> in and earlier remarks i mentioned that the plan that for deduction paper before us was overly board lacking deadline schedules clear of what's going on going on i appreciate the commissioners, i started to drill down get some answers for a change out of the staff presentation but i also shire commissioner caen's inquire about almost the lack of emergency or urgency remember this was brought up a sobering moment january of 2014 13 months later we're beginning to talk about this is the first time i've heard of the wonderful word yet that's may impression
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by talking to replenishing that design would be in construction last summer we're just getting to it is very themselves with we're moving along with a steady pace or not moving at all emergency plan is not called for by bosco we don't know whether the drought conditions that provide surplus water we have other agencies that are desperate for water right now and i guess my last comment as nicole mentioned none of the documents were available for review she says this morning we got a copy of american people
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emergency plan that didn't give adequate time for us to elevate chastises going on therefore i suggest that the commission schedule this item for a month from now everybody including you have a change to read the document and formulate good questions. >> thank you for your comments. >> i would like to add something as president of this commission i think we have a very, very fine utility reis a very long staff extraordinarily general manager and great confidence in our general manager and his staff so i don't really doubt any of the information i get from them but, of course i'm speaking for might have now but i'm sure high fellow commissioners feel the same thing we're very proud to
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have to represent this utility and have the staff we do with that, any other comments? from the public? >> can i make a comment. >> i really appreciate the vote of confidence but as reagan trust were verified i think we are definitely transparent and have a track record on the water improvement program and track records on other programs have no problem of highlighting this project and putting it in schedule in the progress against it so what we'll do is move forward putting a more detail project description a schedule and we can as part of maybe part of cycle we'll report open the
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mountain tunnel that will make everyone happy i mean helpfully improvement all right? . >> good does that conduct our report. >> that concludes my report. >> i have a request for a break so we will reassume this meeting at 20 after, sir. >> okay we're going back in session the next item is item 8. >> item 8 is a consent calendar all matters listed under the consent agenda are considered by the board to be routine and will be enacted by one resolution in the form or forms listed below. if discussion is desired, that item will be removed from the consent agenda and will be considered separately.
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8 a approved the specifications in the unlawfully of one million dollars plus to the responsible conflict and b authorizing the memorandum of understanding with the city of daily city for the west ladies and gentlemen consulting services for the grand theft storages in the amount invited and the duration not to exceed 24 months. >> okay. so as asking there any questions to remove an item. >> i'll move approve. >> second. >> any requests if the public to remove an condemn or item if the cds. >> all in favor opposed the motion carries. >> between the city and county
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of san francisco and the and the modesto city. >> commissioners barbara the general manager with water and power i'm sure you're aware of we'll have a long time relationship with modesto and aware of expiration on july of this year we've been in negotiation with modesto and understand the party maturing need more time to arrive at a contract and this extends the cellist arrangement for one year. >> item 10 it the same for thank you, your honor look so, please call item 10 as well. >> good suggestion. >> thank you. >> item 10 approve an exception agreement with the turlock. >> it is the same any
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questions. >> i'll move approval. >> okay should the public my comments on this brooks. >> yeah. eir brooks san francisco our green party and clean emergency advocates it so you would it is the direction it is headed but i, of course, urge you to reserve as much of hetch hetchy power to san francisco as possible in the agreement because especially with the drought we need to be conscious of the need to provide some hetch hetchy to clean power sf if we can not only to mention other local programs like the colleges and hospital i urge you as commissioners to be as conservative with the hetch hetchy power we send to other
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places. >> this is activity /* tilt part of the business plan coupling. >> and the operations there is some amount of power we have an obligation to make availability and hetch hetchy power this is staying here that's part of the presentation on the business plan. >> i have a question for ms. hale arrest the m iv and ti v we've had issues in the past with the agreement have we not are those issues. >> we've had issues in the past in the more recent timeframe we've not had issues operations have been smooth. >> so a we have a motion on the floor all in favor, say i.
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>> i opposed? the motion carries next item. >> item 11 the preliminary official establishment for the water bonds to fund and invited principle amount of $48 million. >> mr. pearl is here to address this i want to ask the staff about the general some things are complicated and if we get a red line struck out for the capitalization and points of sewss it is hard to get to the nut of it we end up with 3 points that are important and didn't talk about those and this red line you have to search for that i ask the staff to do a better job and where there is part of introduction material a
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summary of the issues so it we at least know where to go if we have additional questions this is a request but this item identified the changes of significance in the o s to make sure to highlight and give us an explanation of the changes. >> charles i object to do that in the staff report we've highlighted the preliminary official statement sorry first back up in december the commission approved the 30 years documents for the first unarchitectural bond sale we're going to bring those bonds to the market next week hallelujah i can't since then getting the approvals through the board of supervisors and this document it is before you today is a revised disclosure document in talking about who we have and our
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consumers and that sort of thing we don't typically bring u bringing up e bring those documents back but this is the first issuance of the power bonds we want to be careful and open and transparent so that's the nature of bringing this document back in terms of of the highlight i have one slow down to share if we go to the slide the changes that have occurred since december if you go to the slides please. i'll start talking about the changes since december we would with the approval the debt lives policies we've incorporated the concept of green bonds as a designation within our debt policies and so what we've done is decided to separate interest traction into one the green
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designation primarily funding the green house gas free generation projects and the second series about not have the green designation those funds will be used for the transition partially because of the policies the commission approved but we want to be sure that the designation of the greenness so to speak low survive that so we wanted to make sure that the green designation was very clear for the generation assets and for the transition those assets are used in potentially a different way it is one of experiencing caution with the green designation we very much support the green bond designation that will be about 32 or $34 million of the overhead issuance so green
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designation. >> additional disclosures related to the capitol plan you financial plan you approved in february of this year we updated the numbers to incorporate that in terms of the drought continuing updated information regarding that and the community irrigation program now getting kicked off that timeline has been added and the prop 26 legal case which was caught of the california board of appeals this year and it as a result reminder prop 26 convict approved and it interprets the rates and fees to the service so we're being careful with the disclosure and this is a distinction between that case and the city and county of san francisco but, of
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course a new supervisor added to the team as well as a new commissioner as well as new staff and so all of those information has been priority we're two additional pipers that were added those are new and improved information which will go into this document before we post the first one starts with page 36 at the bottom relates to the historic hetch hetchy litigation that i believe was actual we've been served with that lawsuit but regardless we wanted to disclosure this to those the community and then lastly on our agenda our schedule to take action on a supplemental to fund the working capital for the agreeing gas station we'll add that should you take action i'm available to answer any questions.
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>> questions. >> yes. >> prop h heros how does that relate to the proposition h to allow us to issue bonds. >> this is sorry this authorization that you are moving forward with today is related in that the power enterprise pledges it's revenues to fund the repayment of the bonds and the debt service on the bond this authorization sort of stands on his own the proposition you referred to was voter enacted and stand strait sprat and those bounds those are will be an additional authorization. >> root power and no idea a streamline to repay. >> that's correct. >> and why are we not using those instead of those. >> we wanted to first of all again, this authorization is trying to create an have you an
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opinion that similar no nature to water and sewer a similar story so we came to talk about the authorizing documents we wanted to make sure those documents are similar in nature proposition h you referred to you building an authorization related to energy efficient bond authorization we could use it authorization we wanted to go counsel a separate road related to the bond issuance for the power enterprise similar is to the water and sewer. >> the proposition h had to do with renewables so this power generation piece i understand the argument you want to create uniform you know story and discussion and revenue streaming among the enterprises bus could those periods a green bonds you
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classified them as up country power generation would it be explicitly i'm thinking about flexibility as we sounds like we will repay those to the revenue we'll be generating with the retail customers we're bringing online and customers yes and could cca about or be a source of revenue to repay. >> that's one of the customers we're selling energy to. >> it the not up country power. >> it is specific the projects with those bonds in front of the you today they're related to the energy of the up country so those are where did fund go and the other authorization in the past can be used in the future circumstances we'll bring those forward when that makes sense.
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>> as part of the business plan of the cca a determination to use prop h bonds as we got to the build out strategy would we be faced with the decision whether to use the prop h bonds versus the green bonds. >> we'll come forward with the loaded costs that's key and just what is the sort of easy bottom to persian if the authorization is in place and been a track record of past bond issuance that's the road we'll go down, however, a investedenter interest to use the prop h proposition we'll use that. >> last question so to establish credit that's part of goal; right? ; right? allowing how long don't that take once we issue those and start paying
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back the bond. >> given the credit rating from the agencies is the first step we've received one rating yesterday from the double a plus rating we're still waiting on s&p 500 we'll see a sense of the credit it is comparing to our wastewater enterprise and once we get the rating and pricing we'll get a sense of the market responsive to us selling bonds to the investment community how many bids and general interests in our names asia a credit those things are important when we poise together the concept of credit. >> i think it is exciting thank
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you work. >> has the drought been a issue. >> we want to obeying be careful that the financial enterprise are clearly delineated in the document and in the current year we've shared with this with you they have been lower enterprises to the generating activities to the lower power generation that has an implication in the current year we didn't plan for the drought activities over in return we planned on a normal year and adjust management decided as that becomes clear. >> any other questions commissioners? oh any comments if the public?
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>> mr. brooks. >> eir brooks san francisco clean emergency green party and sf. >> i want to clarify i think staff needs to take a look at the prop h that was passed by the voters in 2001 their that correct as the commissioner pointed out the h bond authority was passed but the voters so the board of supervisors could pass bonds for roushl emergency 0 projects which can include energy efficiency without going to the voters the voters westbound saying you don't need to come back for revenue bonds for clean energy staff needs to look at when deciding what bonds you know do the sfpuc bonds need to go to the voters if not
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that's great as staff said which bonds have better returned just politically chronologies are are the best way to fund any given system prop h is not just for sf i urge staff to drill down into that and right away raw we're we've got a double a rating and the first rating from the power issued bonds that's huge and the reason the sf bond power advocates aligned with you and your staff to help you to push for raising your rates because they were so low for city facilities and hospitals and things like that so the sfpuc could get the bond rating for the clean power sf we're happy to see this day this is a
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powerful moment for the enterprise thank you. >> if i can add one clarifying thing proposition h was for the voter that gave authority to the city those documents are different those are a contract to whoever bows the bonds we'll have to have bonds we're mixing apples and oranges in that discussion this format will be the same format so it advances that but certainly to the preclude using h bonds and didn't reflect on that at all. >> jason fried is staff i want to mention i won't go into everybody everything you have prop b that was passes you have
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an extra mechanism that's not tubed so prop h but participation to the prop b that was similar to prop h there are multiple things the voter approved for the city and county of san francisco to move forward i agree with commissioner moran it's a good idea not to forget about the preapproved funding for the voter. >> we learn something new everyday. >> any other public comment? do i have a motion >> i move approve approval. >> second. >> all in favor, say i. opposed? the motion carries north america practical. >> item 1230 years the general manager for restrictions on the outdoor use for the state resources control board

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