HomeMy WebLinkAboutCC Resolution 12419 (Submarine High Voltage Direct Current Transmission)RESOLUTION NO. 12419
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN RAFAEL
APPROVING AND AUTHORIZING THE MAYOR TO EXECUTE AN AGREEMENT
WITH TRANS BAY CABLE LLC TO ENCUMBER THE LEASE OF A PORTION OF
THE SAN RAFAEL BAY HELD BY THE CITY OF SAN RAFAEL AS GRANTED
LANDS FROM THE STATE OF CALIFORNIA FOR THE PURPOSE OF THE
CONSTRUCTION, INSTALLATION, OPERATION, MAINTENANCE AND USE OF A
SUBMARINE HIGH VOLTAGE DIRECT CURRENT TRANSMISSION LINE BY A
SENIOR DEED OF TRUST AND SUBORDINATED DEED OF TRUST TO
BAYERISCHE LANDESBANK
WHEREAS, pursuant to the authority of Chapter 83 Statutes of 1923, the State of
California has granted to the City of San Rafael all the rights, title and interest to all marsh, tide
and submerged lands within the boundaries of the City to be held in trust by of the State of
California; and
WHEREAS, under said legislation, the City has the authority to lease said granted lands
or portion thereof, for limited periods, for purposes consistent with the trust upon which said
lands are held by the State of California; and
WHEREAS, because the City holds the lands in trust for the State of California and does
not own the property in fee, the procedures for the leasing of City owned land as set out in
Article III Section 12 of the City Charter are not applicable; and
WHEREAS, Trans Bay Cable LLC leased a portion of the City's granted lands for the
construction, installation, operation, maintenance and use of a submerged cable for the
transmission of electricity and for fiber optic transmissions between Pittsburgh, CA and San
Francisco; and
WHEREAS, Trans Bay Cable LLC has requested the City's consent to their
encumbering the lease of the granted lands by a senior deed of trust and a subordinated deed of
trust to Bayerische Landesbank for the purpose of obtaining project construction financing; and
WHEREAS, the State lands Commission has previously approved such agreements for
the State's lease to Trans Bay of 50 miles of this cable project; and
WHEREAS, the City has evaluated the proposed party's financial strength and
reliability, business experience and expertise, business reputation, managerial and operational
skills, as well as other relevant factors and finds the encumbrance to be reasonable.
NOW, THEREFORE, BE IT RESOLVED THAT THE CITY COUNCIL OF THE
CITY OF SAN RAFAEL:
Approves and authorizes the Mayor to execute an agreement with Trans Bay Cable LLC
to encumber the lease of a Portion of the San Rafael Bay held by the City of San Rafael as
Granted Lands from the State of California for the purpose of the Construction, Installation,
Operation, Maintenance and Use of a Submarine High Voltage Direct Current Transmission Line
by a senior deed of trust and a subordinated deed of trust to Bayerische Landesbank, copies of
which are hereby attached and by this reference made a part hereof.
I, ESTHER C. BEIRNE, Clerk of the City of San Rafael, hereby certify that the
foregoing Resolution was duly and regularly introduced and adopted at a re ular meeting of the
City Council of said City held on Tuesday. the 22nd day of January_ . 2008 by the following vote,
to wit:
AYES: COUNCILMEMBERS: Brockbank, Connolly, Heller, Miller & Mayor Boro
NOES: COUNCILMEMBERS: None
ABSENT: COUNCILMEMBERS: None
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ESTHER C. BEIRNE, City Clerk