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2015-1995 San Diego County Water Authority OS.Xps

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2015-1995 San Diego County Water Authority OS.Xps . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . RIVERSIDE COUNTY SAN DIEGO COUNTY PACIFIC OCEAN ~ Sulhotlar1d PROJECTS SHOWN: Abandonment of the LMSE ® Pipeline @ Camp Pendleton Desalination e Carlsbad Desalination Project a East County Regional ~ Treated Water Improvements A ESP - North County '-' Pump Station ESP - Operations Center G Upgrade ESP - San Vicente 3rd @ Pump Drive & Power II\ ESP - San Vicente Dam Raise W & Carryover Storage ESP- San Vicente Pipeline 0 & Aqueduct Interconnect t) Hauck Mesa Storage Reservoir N A Lake Hodges Quagga Mussel W & Water Quality Mitigation A Miramar Pump Station V Rehabilitation ~ Mission Trails Flow Regulatory \!!!/ Structure (FRS) II /Lake Murray Control Valve CD Nob Hill Improvements @ Pipeline6 0 rnlles 5 10 Second Aqueduct Pipeline ­ ® Caltrans Highway 76 Realignment LEGEND @ Second Crossover Pipeline WATER AUTHORITY SERVICE ··0 ·· PLANNING @ System Storage AREA WITH MEMBER AGENCY -o4111·M-- DESIGN A Twin Oaks Valley WTP D BOUNDARIES W Expanded Service Area -oiii·M-- CONSTRUCTION FALLBROOK CAMP PENDLETON MARINE CORPS BASE <t'' PUD t / </ YUIMAMWD RAINBOWMWD VALLEY CENTER MWD ...... ,.... ._ ,... s-J.•'(> l;:-- ,.... ,_ '"" ,... CITY OF o'CE'A:NSIDE VISTA ID ._.. -! CIT~..g~...... Vlll:.LECITOS ESCONDIDO CARLSBAD MWD ""' wD RINCON DEL DIABLO MWD OLIVENHAIN Mwrjt::::' SAN DIEGUITO ,__ WD SANTA FE ID '"' -· - RAMONAMWD ,.... CITY.b-F POWAY CITY OF DEL MA_!! LAKESIDE CITY OF SAN DIEGO PADREDAM WD ...... MWD '·"' I.Aio s.- /_,., ,.... r S..l)kJ<'I!I~ - PADRE DAM MWD "-'"'*' '·"' ""- HELIX WD ........ ,.,... --- / • OTAY WD ....... NATIONAL ·­ CITY SAN DIEGO COUNTY WATER AUTHORITY ~""'- \lbt.l SOUTH BAYID MEMBER AGENCIES ,_,... ~ CITY OF ''~~~...._ SAN DIEGO UNITED STATES OF AMERICA MEXICO CALIFORNIA AQUEDUCT COLORADO RIVER _,._,._....._ -= AQUEDUCT --..._..--..,. San Diego County Water Authority ARIZONA SAN DIEGO COUNTY WATER AUTHORITY 4677 Overland Avenue San Diego, California 92123 (858) 522-6600 Internet: http://www.sdcwa.org BOARD OF DIRECTORS Chair MARK WESTON Vice-Chair Secretary MARK MUIR JIM MADAFFER REPRESENTATIVES OF THE MEMBER AGENCIES CITIES SPECIAL DISTRICTS Del Mar Carlsbad Rincon del Diablo KEN OLSON Municipal Water District Municipal Water District MATT HALL JAMES MURTLAND Escondido KEITH LEWINGER ED GALLO San Dieguito Water Fallbrook Public District National City Utility District MARK MUIR RON MORRISON BRIAN J. BRADY Santa Fe Irrigation Oceanside Helix Water District District BRIAN BOYLE JOHN B. LINDEN MICHAEL T. HOGAN DEANA VERBEKE Poway South Bay Irrigation MARK WESTON Lakeside Water District District FRANK HILLIKER JOSE PRECIADO San Diego JIMMY AYALA Olivenhain Municipal Vallecitos LOIS FONG-SAKAI Water District Water District TONY HEINRICHS CHRISTY GUERIN BETTY EVANS JIM MADAFFER HALLA RAZAK Otay Water District Valley Center Municipal ELSA SAXOD GARY CROUCHER Water District FERN STEINER MARK W. WATTON GARY ARANT YEN C. TU KENNETH WILLIAMS Padre Dam Municipal Vista Irrigation District THOMAS V. WORNHAM Water District MARTY MILLER DOUG WILSON Yuima Municipal FEDERAL AGENCY Rainbow Municipal Water District Water District RONALD W. WATKINS Pendleton Military TOM KENNEDY Reservation JOHN SIMPSON Ramona Municipal Water District DAVID BARNUM SAN DIEGO COUNTY WATER AUTHORITY STAFF MAUREEN A. STAPLETON General Manager DANIEL S. HENTSCHKE General Counsel FRANK BELOCK, JR. LISA MARIE HARRIS Deputy General Manager Director of Finance/Treasurer SANDRA L. KERL GERARD E. REED III Deputy General Manager Director of Engineering DENNIS A. CUSHMAN DAVID G. SHANK Assistant General Manager Financial Planning Manager FINANCIAL ADVISORS INDEPENDENT AUDITORS BOND COUNSEL AND Montague DeRose and Associates, LLC Macias, Gini & O’Connell, LLP DISCLOSURE COUNSEL Certified Public Accountants Orrick, Herrington & Sutcliffe LLP TRUSTEE VERIFICATION AGENT U.S. Bank National Association Grant Thornton LLP No dealer, broker, salesperson or other person has been authorized by the Underwriters, the Water Authority or the Trustee to give any information or to make any representations other than those contained herein and, if given or made, such other information or representations must not be relied upon as having been authorized by any of the foregoing. This Official Statement does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of 2015A Bonds by a person in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. This Official Statement is not to be construed as a contract with the purchasers or any of the owners of 2015A Bonds. Any statement made in this Official Statement involving estimates, forecasts or matters of opinion, whether or not expressly so stated, are intended solely as such and not as representations of fact. The information set forth herein has been furnished by the Water Authority and other sources that are believed to be reliable, but is not guaranteed as to accuracy or completeness, and is not to be construed as representations by the Underwriters. The information and expressions of opinion herein are subject to change without notice and neither the delivery of this Official Statement nor any sale made hereunder shall, under any circumstances, create any implication that there has been no change in the affairs of the Water Authority since the date hereof. CERTAIN STATEMENTS CONTAINED IN THIS OFFICIAL STATEMENT REFLECT NOT HISTORICAL FACTS BUT FORECASTS AND “FORWARD-LOOKING STATEMENTS.” NO ASSURANCE CAN BE GIVEN THAT THE FUTURE RESULTS DISCUSSED HEREIN WILL BE ACHIEVED, AND ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THE FORECASTS DESCRIBED HEREIN. IN THIS RESPECT, THE WORDS “ESTIMATE”, “PROJECT”, “ANTICIPATE”, “EXPECT”, “INTEND”, “BELIEVE” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS. ALL PROJECTIONS, FORECASTS, ASSUMPTIONS, EXPRESSIONS OF OPINIONS, ESTIMATES AND OTHER FORWARD-LOOKING STATEMENTS ARE EXPRESSLY QUALIFIED IN THEIR ENTIRETY BY THE CAUTIONARY STATEMENTS SET FORTH IN THIS OFFICIAL STATEMENT. The Underwriters have provided the following for inclusion in the Official Statement in connection with the offering of the 2015A Bonds: The Underwriters have reviewed the information in this Official Statement in accordance with, and as part of, their respective responsibilities to investors under the federal securities laws, as applied to the facts and circumstances of this transaction, but the Underwriters do not guarantee the accuracy or completeness of such information. THE PURCHASERS MAY OVERALLOT OR EFFECT TRANSACTIONS THAT MAY STABILIZE OR MAINTAIN THE MARKET PRICE OF THE 2015A BONDS AT A LEVEL ABOVE THAT WHICH MIGHT OTHERWISE PREVAIL IN THE OPEN MARKET. SUCH STABILIZING, IF COMMENCED, MAY BE DISCONTINUED AT ANY TIME. While the Water Authority maintains a website for various purposes, none of the information on the Water Authority’s website is intended to assist investors in making an investment decision or to provide any continuing information with respect to the 2015A Bonds. TABLE OF CONTENTS Page INTRODUCTION ....................................................................................................................................................... 1 WATER AUTHORITY DEBT ................................................................................................................................... 1 PLAN OF REFUNDING ............................................................................................................................................. 4 THE 2015A BONDS ................................................................................................................................................... 6 General .......................................................................................................................................................... 6 Redemption ................................................................................................................................................... 6 Notice, Rescission and Effect of Redemption ............................................................................................... 6 SOURCES AND USES OF FUNDS ........................................................................................................................... 8 SECURITY AND SOURCES OF PAYMENT ........................................................................................................... 8 General .......................................................................................................................................................... 8 Pledge of Net Water Revenues ...................................................................................................................... 8 Deposit of Net Water Revenues ...................................................................................................................
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