Recommend City Council conduct public hearing to amend and extend an existing revolving credit agreement with Water Utility for $25 million and with Electric Utility for $35 million for an additional three years and three months for an estimated cost of $413,500 funds available for year one in Public Utilities’ Water and Electric Debt Related Fiscal Charges Account fees for following years will be budgeted as part of next budget process - Adopt Resolution of the City Council of the City of Riverside, California, authorizing certain actions related to the extension of a subordinate line of credit for the water system and electric system - Approve City’s Financing Team, as described in staff report - Delegate to City Manager, Chief Financial Officer/Treasurer, Finance Director/Assistant Chief Financial Officer, and Public Utilities General Manager of City (or any duly authorized designee of any of such officers) authority to execute all documents related to this transaction
What this record is
- Amount
- $35.0M
- Runs until
- Not stated in the agenda text — the term is normally in the signed agreement, attached to the original item ↗
- Type
- amendment
- Field
- Utilities & energy
utilities & energy contracts in CA that end within a year →
Governments publish the end date in the award. That date is when the
work goes back out to bid, and it is usually stated years ahead.
Read automatically from the title of the official record. The source document below is authoritative.
- Committee
- Board of Public Utilities
- Requested by
- Public Utilities
- Introduced
- March 28, 2025
- On agenda
- April 28, 2025
Where it was heard
Board of Public UtilitiesWatch what Riverside buys
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