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SFPUC approves consent calendar, green financings and 20-year Chevron lease
Summary
At its Oct. 25 meeting the SFPUC approved the consent calendar of routine contracts, authorized two green bond financings, adopted the 2012 meeting schedule and authorized a 20-year lease with Chevron Pipeline Company; closed-session item 18 was settled and the commission voted not to disclose closed-session discussions.
The San Francisco Public Utilities Commission took several formal actions at its Oct. 25, 2011 meeting.
Consent calendar: The commission approved a multi-item consent calendar that included contract awards and plans and specifications for water and wastewater work, LED lighting upgrades and related procurement items. The chair called the vote and the motion carried on a voice vote ('Aye').
Meeting schedule: Commissioners approved a schedule of regular meetings for 2012 to be held on the second and fourth Tuesday of each month.
Green financings: The commission authorized the general manager to enter into equipment lease-purchase arrangements and to pursue Qualified Energy Conservation Bonds (QECBs) and Clean Renewable Energy Bonds (CREBs) to fund green components of projects, with deputy CFO Charles Perle saying these financings reduce net borrowing costs to under 2% (closer to ~1.2% if executed promptly).
Chevron lease: The commission approved terms and authorized the general manager to execute a 20-year lease with Chevron Pipeline Company for pipeline right-of-way premises in Alameda County, with an annual rent amount tied to appraisal ($10,000 referenced in the staff report).
Closed session: The commission held a closed session on several litigation and security matters; upon return to open session, items 15–17 were announced as 'no action' and item 18 was reported as settled. The commission then voted 'not to disclose' details of the closed session.
