Legislation Details

File #: 20-0353    Name: Issuance of Pension Obligation Bonds, execution of Trust Agreement, Purchase Contract, and Judicial Validation process authorizations
Type: Action Item Status: Passed
In control: City Council
On agenda: 9/15/2020 Final action: 9/15/2020
Title: RESOLUTION NO. 2020-215 OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA AUTHORIZING THE ISSUANCE OF BONDS TO REFUND CERTAIN PENSION OBLIGATIONS OF THE CITY, APPROVING THE FORM AND AUTHORIZING THE EXECUTION OF A TRUST AGREEMENT AND PURCHASE CONTRACT, AUTHORIZING JUDICIAL VALIDATION PROCEEDINGS RELATING TO THE ISSUANCE OF SUCH BONDS AND APPROVING ADDITIONAL ACTIONS RELATED THERETO
Attachments: 1. Staff Report, 2. Resolution, 3. Attachment 1 - Trust Agreement, 4. Attachment 2 - Bond Purchase Agreement, 5. Attachment 3 - Financing Schedule (Exhibit D), 6. Item 11 - POB Presentation

Title

RESOLUTION NO. 2020-215 OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA AUTHORIZING THE ISSUANCE OF BONDS TO REFUND CERTAIN PENSION OBLIGATIONS OF THE CITY, APPROVING THE FORM AND AUTHORIZING THE EXECUTION OF A TRUST AGREEMENT AND PURCHASE CONTRACT, AUTHORIZING JUDICIAL VALIDATION PROCEEDINGS RELATING TO THE ISSUANCE OF SUCH BONDS AND APPROVING ADDITIONAL ACTIONS RELATED THERETO

 

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RECOMMENDED ACTION

Recommended Action

Council adopt the resolution.

 

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ENVIRONMENTAL NOTICE

Environmental Notice

The activity is not a "Project" as defined under Section 15378 of the California Environmental Quality Act State Guidelines; therefore, pursuant to State Guidelines Section 15060(c)(3) no environmental review is required.