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City staff to prepare an alternative finance plan for the construction, management and maintenance of the Aquatic Center that includes the following elements and time lines:
 
1. Within 30 days city staff to establish a sizable down payment up to 7 million to come from the following sources:                                                                                                                 
a. “Unassigned” and “Assigned” accounts surplus per Council Policy 200-13 FB-1. d and e. 
b. Surplus above required 12% Healthy City Reserve Fund subject to Council Policy 200-08.
c. Miscellaneous general fund surplus from year to date revenue reconciliation subject to council policy 200-13 OB-6.
 
2. Within 30 days city staff to prepare a capital project advance fund per Council Policy 200-06 for remaining balance of Aquatic Center after down payment outlined in item 1 above. Terms, conditions and funding sources to include but not limited to:                                                      
a. Payback period to be less than 10 years from establishment of fund.
b. Principle and interest payment schedule to be set and is to potentially include any future debt payoff surpluses.
c. Interest rate
d. City of Oceanside portfolio investments with maturity date less than 6 months to be considered for capital project advance fund.
 
3. Council to vote on construction contract and award at future date once staff has prepared above alternative.
 
4. Within 6 months city staff to prepare for council approval a management and maintenance plan for the aquatic center program per council policy 200-01 that includes, but is not limited to the following:                                                                                                                        
a. Aquatic centers first 24-month management, operations and marketing plan to include a fee schedule and forecast budget.
b. New Joint Use Agreement with OUSD that includes terms, conditions and appropriate impact recovery and (Fee schedule) for use of the aquatic center.
c. Identify the process and opportunity of aquatic center being managed by the private sector or a nonprofit.

Paid for By Rodriguez for Oceanside City Council # 1405642
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