city of Chula Vista

File #: 17-0242    Name:
Type: Public Hearing Status: Passed
In control: City Council
On agenda: 6/6/2017 Final action: 6/6/2017
Title: CONSIDERATION OF APPROVAL TO FINANCE INFRASTRUCTURE, FACILITIES AND EQUIPMENT RELATING TO MEASURE P A. RESOLUTION NO. 2017-089 OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA AUTHORIZING THE EXECUTION AND DELIVERY BY THE CITY OF A SITE LEASE, LEASE AGREEMENT, INDENTURE, CONTINUING DISCLOSURE AGREEMENT AND BOND PURCHASE AGREEMENT IN CONNECTION WITH THE ISSUANCE OF THE CHULA VISTA MUNICIPAL FINANCING AUTHORITY 2017 LEASE REVENUE BONDS, APPROVING THE ISSUANCE OF SUCH BONDS IN AN AGGREGATE PRINCIPAL AMOUNT OF NOT TO EXCEED $72,000,000, AUTHORIZING THE DISTRIBUTION OF AN OFFICIAL STATEMENT IN CONNECTION WITH THE OFFERING AND SALE OF SUCH BONDS AND AUTHORIZING THE EXECUTION OF NECESSARY DOCUMENTS AND CERTIFICATES AND RELATED ACTIONS B. RESOLUTION NO. 2017-001 OF BOARD OF DIRECTORS OF THE CHULA VISTA MUNICIPAL FINANCING AUTHORITY AUTHORIZING THE EXECUTION AND DELIVERY BY THE AUTHORITY OF A SITE LEASE, LEASE AGREEMENT, INDENTURE, ASSIGNMENT AGREEMENT AND BOND PURCHASE AGREEMENT IN CONNECTION ...
Attachments: 1. Item 12 - Resolution A, 2. Item 12 - Resolution B, 3. Item 12 - Attachment 1 - Indenture, 4. Item 12 - Attachment 2 - Lease Agreement, 5. Item 12 - Attachment 3 - Site Lease, 6. Item 12 - Attachment 4 - Continuing Disclosure Agreement, 7. Item 12 - Attachment 5 - Assignment Agreement, 8. Item 12 - Attachment 6 - Bond Purchase Agreement, 9. Item 12 - Attachment 7 - Preliminary Official Statement
Title
CONSIDERATION OF APPROVAL TO FINANCE INFRASTRUCTURE, FACILITIES AND EQUIPMENT RELATING TO MEASURE P

A. RESOLUTION NO. 2017-089 OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA AUTHORIZING THE EXECUTION AND DELIVERY BY THE CITY OF A SITE LEASE, LEASE AGREEMENT, INDENTURE, CONTINUING DISCLOSURE AGREEMENT AND BOND PURCHASE AGREEMENT IN CONNECTION WITH THE ISSUANCE OF THE CHULA VISTA MUNICIPAL FINANCING AUTHORITY 2017 LEASE REVENUE BONDS, APPROVING THE ISSUANCE OF SUCH BONDS IN AN AGGREGATE PRINCIPAL AMOUNT OF NOT TO EXCEED $72,000,000, AUTHORIZING THE DISTRIBUTION OF AN OFFICIAL STATEMENT IN CONNECTION WITH THE OFFERING AND SALE OF SUCH BONDS AND AUTHORIZING THE EXECUTION OF NECESSARY DOCUMENTS AND CERTIFICATES AND RELATED ACTIONS

B. RESOLUTION NO. 2017-001 OF BOARD OF DIRECTORS OF THE CHULA VISTA MUNICIPAL FINANCING AUTHORITY AUTHORIZING THE EXECUTION AND DELIVERY BY THE AUTHORITY OF A SITE LEASE, LEASE AGREEMENT, INDENTURE, ASSIGNMENT AGREEMENT AND BOND PURCHASE AGREEMENT IN CONNECTION WITH THE ISSUANCE OF CHULA VISTA MUNICIPAL FINANCING AUTHORITY 2017 LEASE REVENUE BONDS, AUTHORIZING THE ISSUANCE OF SUCH BONDS IN AN AGGREGATE PRINCIPAL AMOUNT OF NOT TO EXCEED $72,000,000, AUTHORIZING THE DISTRIBUTION OF AN OFFICIAL STATEMENT IN CONNECTION WITH THE OFFERING AND SALE OF SUCH BONDS AND AUTHORIZING THE EXECUTION OF NECESSARY DOCUMENTS AND CERTIFICATES AND RELATED ACTIONS

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RECOMMENDED ACTION
Recommended Action
Council conduct the public hearing, adopt resolution A, and Authority adopt resolution B.

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SUMMARY
Voters in the City approved Measure P in November 2016 and the City Council has adopted a proposed expenditure plan for the infrastructure, facilities and equipment that are proposed to be funded with Measure P sales tax. The expenditure plan accelerates large-scale projects by financing those items and allocating a portion of the sales tax generated by Measure P to fund the related debt service. This action will approve the issuance of Bonds...

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