project contingency of 223% of the original contract price. should they also call item 15 as well? >> i think you should. did >> an increase of 17% to the existing 10% for the construction contract pipeline and authorize the general manager to approve any accumulative contract associated with circumstances of to 27% of the original contract price. >> in the interest of time, i can take questions, or if you want me to summarize further, i can do that, too. >> i will second that. >> any questions or comments on this item? all those in favor?

thank you. next item, mr. secretary. >> the information you provided was helpful, and that is what makes it possible. >> the regional construction services to c.h.p. for additional services associated with restoration science within the sunol valley region and increasing the agreement for a total not to exceed $19 million, provided that expenditures shall be limited to pre-construction of a nativity until such time as the commission views and considers the final environmental documents and

determines whether or not to approve the proposed project subject to supervisors' approval. amendment no. 1 for the agreement for additional construction services associated with habitat restoration sites within the peninsula region to execute this amendment, increasing the agreement for a total of $26 million, provided expenditures should be limited until such time as the commission considers environmental documents and determines whether or not to approve the proposed project. items 16 and 17. >> public comment?

>> aye. >> so we return to item 14? >> the principal amount of $600 billion in bonds to fund water improvement programs and subject to the approval of the board of supervisors to authorize the delivery of related documents authorizing the general manager to sell bonds on competitive negotiated basis of the general manager determines the best interest, delegating to the general manager authorization to reward bonds to the highest manager and also authorizing the resolution to the board of supervisors, of addressing the issue cannot expand the principal amount, provided that

such bonds shall be subject to the terms and adopting findings for the quality act. also providing a 3% threshold. >> i am before you again as part of what we're doing for the water system improvement program. in your packet is a great deal of information.

we have sold $2 billion in loans. this would be doing another a up to $600 million in your packet. a continuation of existing strategies. we always try to go to market with the cheapest debt. the assets we are funding have 65 or 70 years. sometimes more. savings of 1% under our 5% planning.

the reason i should say we are timing this in december as opposed to january -- congress has not removed the 35% interest rate, so this would allow them to capture more savings, and that is significant for our customers. the saving is about $10 million. the overview financing authorities -- what is before you is consistent with ordinance 189. we will be going by to the board next week.

this outlines the projected program, 83 programto 85 cents for the project. the rest goes to cross -- costs such as construction that has been the case since the financial market melted in 2008. that is noted as a strength. your package was so large " because it contains these resolutions. the official notice of sale, the

notice of intention of sale, a custody agreement, and one more thing i want to make sure to talk to you about as well is that we have handed out an update of things that turn new information that we want to make sure we bring to you. what this does is of dates the official -- updates the official packet with the information she gave you. it also of its various tables for additional audits -- updates various tables for additional audit information. it includes a very wet october.

the city attorney's office has provided an update to the proposition, and lastly, we have updated some entitlement information, so everything we typically do and you delegate to the staff to make various updates as long as they are reviewed with the city attorney. and i will see if she has any other comments. >> i would like to point out there is a typo showing the resolution approved $500 million in bonds, whereas we are asking you to approve six. i want to make sure we got that on the record so it will be

corrected. good >> it is correct every place except page 3, line 10, where it is a five instead of a six. i am so sorry about that. >> questions. >> one other of state i would like to provide for you -- update i would like to provide for you is the last slide. there is not a market available right now. our credit rating is so high, it is higher than most bond insurers with the exception of one, and we have an equal raging. the only one that was not insured was warren buffett, and

he is no longer writing insurance on municipal bonds. because we are a strong rating, you do not need to buy additional ratings. they have chosen not to buy it either. we think there will be a normalization over the next couple years, so i want to make sure you are aware of that, and lastly, the private use. because we sell a portion of the water to california walker, we are always making sure we are selling a small amount of taxable commercial paper to make sure we provide regulation. we are really on track, and i think there are additional savings for rate-payers. >> thank you so much.

>questions or comments devlin -- or comments? >> they have to buy everything or nothing. bring the checkbook. i would also like to acknowledge mark. he is the debt manager who does the heavy lifting. if i could have the public manager rise, too. >> thank you very much barry and -- very much. >> team effort. we really appreciate it. is there a motion? >> i think we have reached the circumstances were the documents

way more than i do, and i need to go on a diet, so i guess that is a commendation. >> all those in favor? >> aye. >> where are we? >> we will now move into closed session. the first item will be if there is any public comment on closed session. >> any public comment on closed session? hearing none, we will move to a closed session. >> i will move. >> is there a second? >> if you would give me a moment, item 20 related to the chief of security concerning

water and power, legal counsel, existing litigation, court of appeals for the state of california first appellate california first appellate district, filed in january 29, >> i will move not to disclose. >> is there any additional new business experts -- new business? president vietor: i would like to take a short moment because the believe michael's mother passed. african have a few moments of silence on her behalf, i would appreciate it.

-- if we can have a few moments of silence on her behalf, i would appreciate it. please pass onto mr. carlin our sympathies and condolences. >> madame president, you may request a motion to adjourn if there is no other business. >> so moved. president vietor: meeting adjourned. >> good morning, consuls generals and your constituency.

the elected officials who may be here and other distiguished guets. sts. may i welcome you here to celebreate the national days of our wonderful countrymen, people from and people who are citizens of the consuls' generals, citizens of el salvador, nicaragua, and mexico. these flags will be outside your abode. this is a colorful and historical day. we are proud of our ethnic diversity. we're very proud of the history that we have with your country that goes back so many years and we are very happy that these will be in front of the city hall. this is the seat of government.

my introduced the custodian of this building. you shone the dome well today. [laughter] and of the government. a mayor who is making history, gavin newsom. [applause] mayor newsom: thank you. thank each and every one of you for being here. it is an honor to have you here, and you have been here many times with the flag raising ceremonies. this is, in particular, very important and appropriate that we ask all of you to be here. we share so much in terms of the respective histories. i am reminded every time i go down the hallway, of this history. the mayors who are here before the city of san francisco.

the city was founded over 200 years ago. that connection in mexico and the relationship with spain, all the challenges that are good and bad. this is more positive with an engaging future. this is something that is indelible in the minds of the people of san francisco. particularly those who served as custodians of this great city. she is right to say that what makes san francisco special and what makes the bay area special, and the state of california so remarkable is the ability to attract people from every conceivable walk of life, regardless of race or ethnicity or sexual orientation. this is a region and a state that prides itself on its diversity. i say this often because this deserves to be repeated often. we did not tolerate our diversity, we truly celebrate

this. it is right to celebrate all of these differences. at the end of the day, those fundamental aspects of our lives are what we all show. what we are doing today is sharing the values of the region and the state. we pride ourselves in being the most diverse state in the most perverse democracy. we have seen this over every conceivable difference. the more that i go out, not just across the state but across the country and around the world, we have the privilege of visiting people for every conceivable walk of life. and i truly believe that people look to us to see that it is possible to live together through all of these differences. they know that there is something special and magical about this city and this region. and that is why we are here.

that is why i am here. and i am grateful that you are here. i am grateful for the extraordinary contribution of the people from mexico and central america. i think that this is interesting and appropriate to notice that san francisco county has the distinction as it relates to the latino community that is unique among the 58 counties. we have more latino representatives. -- >> this is not the case with the other counties. we have these in el salvador and nicaragua, as well as mexico. not everybody understands this and we are celebrating this remarkable collection. the city of san francisco took

the lead as the city of refuge after the civil wars in the 1980's. we established, firmly, the foundation that marks so much of what makes this city a special place. it is mocked by those who do not understand and who did not want to understand, and this is trivialized by political campaigns and this should not be diminished by sound bites and in political campaigns. we stand up to that. and we did not play into this. we do not believe in dividing people. we do not believe in diminishing others in the broader scope of the world. we are also celebrating that today. i am honored that you are here and i am grateful. i am happy that you took the time to celebrate with us.

we have, in this spirit, a formal proclamation. you do not have enough wall space for the proclamations that you have received. but this is my honor to recognize, you have to share this today. garcia understands this because there are only 365 days a year. he must have given out 10 days every day. and i am trying to separate this. in the spirit of brown, let me give out heritage day, guatemalan heritage day, and mexican heritage day. and the crop one -- the crop was -- nicaraguan day.

this is the day we celebrate our histories in this remarkable bicentennial. thank you very much. [applause] >> thank you all for coming. we have more to celebreate this historical and colorful day. we thank you for all you do. have a wonderful celebration. >> did you have to hurry? [laughter] >> gentlemen. we are talking about el salvador. >> thank you very much. iwould like to thank gavin newsom and the mayor's office for inviting us here.

the consul general would like to continue our very good relationship working together in the bay area. i'll have a couple of words for the community. [speaking spanish]

[applause] >> i already -- i don't need to translate it. >> guatemala? [applause] >> first of all, i want to mention that i am not the ambassador, because he has been detained for the work that we do for the temporary protection status with the people of guatemala. i want to thank the city for this wonderful work that they have done for the immigrants, and we celebrate this 15th of

september with our sister countries, and also with mexico. and again, we would like to thank the city of san francisco. thank you. [speaking spanish] >> mexico. >> thank you very much. we're very proud to be here today, on the celebration of the bicentennial.

and the continuation of the mexican revolution. these are very important days for mexico and mexicans. and in northern california, this is a special meaning. we have contributed to build this great state. and i think that one more important element is an extremely complex relationship that makes it so happy, is the by cultural family that we support. for that reason, this is a special occasion for me to be here. and to celebrate with all the friends of mexico. we will continue working with the elected officials with a different representative because we believe that we are part of this the first community. and we can continue contributing with hard work, for the future

and the next generation. and i held that the next 100 years -- we will be celebrating the same. thank you very much. [applause] >> we should have won with each consul general. we should have an individual picture. >> and where is the camera?

>> you got here for the picture. [speaking spanish] >> thank you very much. >>