DEPARTMENT: Finance
DEPARTMENT HEAD: Ben Gorzell, Chief Financial Officer
COUNCIL DISTRICT(S) IMPACTED: City Wide
SUBJECT:
Briefing from the San Antonio Water System (SAWS) on a change in control on the Vista Ridge Project
SUMMARY:
This item will be a briefing from SAWS on a change in control to Garney Construction in the Vista Ridge Project.
BACKGROUND INFORMATION:
The San Antonio Water System (SAWS) is a city-owned utility. The complete management and control of the System is vested in a Board of Trustees, consisting of the Mayor of San Antonio as an ex-officio member and six residents appointed by the City Council. Under the System Ordinance, only the City Council can fix rates and charges for service rendered by the System. State law provides that only the City Council can authorize the sale of revenue bonds or other securities, exercise the use of condemnation for the acquisition of real property, and select and appoint members of the Board.
On September 29, 2014, the SAWS Board of Trustees authorized execution and approval of the proposed Vista Ridge Regional Supply Project Water Transmission and Purchase Agreement in substantially final form. Subsequently, on October 15, 2014, they approved various clarifying and conforming modifications to the contract.
The City Council voted to approve the Vista Ridge Water Transmission and Purchase Agreement on October 30, 2014. With this approval, City Council delegated the approval of changes to the contract to the SAWS Board of Trustees so long as the amendments do not involve an increase in the amount of water to be delivered or the manner in which the System's payment for delivered water is calculated. Amendments to terms and provisions of the contract not attributed to an increase in the water received or the calculation of payment for water delivered were reserved to the sole discretion of the Board without further action or approval by the City Council.
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