Title
CONSIDERATION OF APPROVING THE EXPENDITURE PLAN, CREATING NEW CAPITAL IMPROVEMENT PROJECTS, APPROPRIATING FUNDS, AND AUTHORIZING THE CITY MANAGER TO NEGOTIATE AGREEMENTS RELATED TO MEASURE P, THE TEMPORARY HALF-CENT SALES TAX
A. RESOLUTION NO. 2016-263 OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA APPROVING THE CITY COUNCIL INFRASTRUCTURE, FACILITIES AND EQUIPMENT EXPENDITURE PLAN; ESTABLISHING NEW CAPITAL IMPROVEMENT PROJECTS, "STREET PAVEMENT CITYWIDE (MEASURE P)" (STL421) AND "DESIGN OF FIRE STATIONS (MEASURE P)" (GG229); AND MAKING VARIOUS AMENDMENTS TO THE FISCAL YEAR 2016/17 OPERATING AND CIP PROGRAM BUDGETS APPROPRIATING FUNDS FOR ELIGIBLE MEASURE P SALES TAX EXPENSES (4/5 VOTE REQUIRED)
B. RESOLUTION NO. 2016-264 OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA AUTHORIZING THE CITY MANAGER OR HIS DESIGNEE TO NEGOTIATE LEASE PURCHASE AGREEMENTS FOR EQUIPMENT AS APPROVED WITHIN THE INFRASTRUCTURE, FACILITIES AND EQUIPMENT EXPENDITURE PLAN; WAIVING THE COMPETITIVE FORMAL BID REQUIREMENT AND AUTHORIZING THE CITY MANAGER OR HIS DESIGNEE TO NEGOTIATE AND EXECUTE TWO-PARTY AGREEMENTS BETWEEN THE CITY OF CHULA VISTA AND HARRELL AND COMPANY ADVISORS, LLC TO PROVIDE FINANCIAL ADVISORY SERVICES AND BETWEEN THE CITY OF CHULA VISTA AND J.P. MORGAN CHASE TO PROVIDE UNDERWRITING SERVICES FOR THE PROPOSED ISSUANCE OF TRANSACTIONS AND USE TAX REVENUE BONDS
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RECOMMENDED ACTION
Recommended Action
Council adopt the resolutions.
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SUMMARY
On November 8, 2016 Chula Vista voters approved Measure P, authorizing a one-half cent sales tax increase on retail sales within the City for a period of ten (10) years. The recommended resolutions are in accordance with Ordinance 3371("Ordinance"), Section 3.33.160.B, which required that within 30 days after approval of Measure P, the City Manager bring forth for City Council consideration and action, in its discretion, proposed budget amendments and financing options to accelerate large-scale projects for fiscal year ...
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