AGENDA REPORT
REQUEST FOR CITY COUNCIL ACTION
DATE: 3/7/2018
TO: Honorable Mayor and City Council Members
FROM: Administrative Services Department
SUBJECT:
Title
City Council consideration to adopt Resolution No. 2018-010 authorizing the issuance of bonds of Community Facilities District No. 2016-2 (Terrassa) designated 2018 Special Tax Bonds, appointing fiscal agent, approving Fiscal Agent Agreement and Purchase Contract and authorizing negotiation of terms of the sale of said bonds, approving Preliminary Official Statement and authorizing preparation of Final Official Statement and approving Continuing Disclosure Certificate.
End
RECOMMENDED ACTION:
Recommended action
That the City Council:
1. Adopt Resolution No. 2018-010 authorizing the issuance of bonds of Community Facilities District No. 2016-2 (Terrassa) designated 2018 Special Tax Bonds (the "Bonds"), appointing fiscal agent, approving Fiscal Agent Agreement and Purchase Contract and authorizing negotiation of terms of the sale of said bonds, approving Preliminary Official Statement and authorizing preparation of Final Official Statement and approving Continuing Disclosure Certificate.
2. Authorize the City Manager and the Assistant City Manager/Administrative Services Director to execute all related service agreements and purchase orders for the financing team.
Body
ANALYSIS:
On March 2, 2016, Community Facilities District No. 2016-2 (Terrassa) (the "District") was established by resolution by the City Council; on the same date the City Council adopted a Resolution Determining the Necessity for the District to incur bonded indebtedness in an aggregate principal amount not to exceed $7,000,000. Subsequently on March 22, 2016, consolidated elections were held on the proposition of whether a bonded indebtedness in an aggregate principal amount of not to exceed $7,000,000 should be incurred by and for the District for the purpose of financing certain public facilities for the benefit of...
Click here for full text