HomeMy WebLinkAboutResolution No. 6197 RESOLUTION NO. 6197
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
DOWNEY REQUESTING THAT THE WATER REPLENISHMENT
DISTRICT OF SOUTHERN CALIFORNIA REBATE $50 MILLION
IN SURPLUS FUNDS TO THE GROUNDWATER PRODUCERS IN
THE DISTRICT BASED ON $70 PER ACRE FOOT OF THE
ACTUAL WATER PRODUCTION OVER THE THREE-YEAR
PERIOD, ENDING JUNE 30, 1998.
WHEREAS, the Water Replenishment District of Southern California is -
responsible for financing water purchases for recharging the groundwaters of the Cetral
and West Basins; and
WHEREAS, the Water Replenishment District of Southern California collects an
assessment from groundwater pumpers for each acre foot of groundwater pumped to
fmance its activities; and
WHEREAS, the Water Replenishment District has collected funds in excess of its
requirements and accumulated a fund surplus in excess of$60 million as of August 1998;
and
WHEREAS, the Water Replenishment District will have a fund surplus in excess
of$70 million as of July 1999; and
'WHEREAS, the surplus funds held by the Water Replenishment District were
paid for by the water customers of the Central and West Basins; and
WHEREAS, the Water Replenishment District historically has operated with a
fund balance of$10 million and does not need cash reserves in excess of$10 million.
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of
Downey requests that the Water Replenishment District of Southern California rebate $50
million in surplus funds to the groundwater producers in the District based on $70 per
acre foot of the actual water production over the three-year period, ending June 30, 1998.
RESOLUTION NO. 6197
The City Clerk shall certify to the adoption of this Resolution.
APPROVED AND ADOPTED this 8th day of September , 1998.
GARY P. C CAUG • , ■ :yor
ATTEST:
J E. DOYLE, Deputy City Clerk
I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the
City Council of the City of Downey at a regular meeting thereof held on the 8th day of
September , 1998, by the following vote:
AYES: 4 Council Members: McCarthy, Riley, Lawrence, McCaughan
NOES: 0 Council Members: None
ABSENT: 1 Council Members: Brazelton
F. 11)
J E. DOYLE, Deputy City Clerk