Laserfiche WebLink
City of San Leandro <br />Meeting Date: December 3, 2018 <br />Resolution - PFA <br />Agenda Section:File Number:18-609 PUBLIC HEARINGS <br />Agenda Number: <br />TO:City Council <br />FROM:Jeff Kay <br />City Manager <br />BY:David Baum <br />Finance Director <br />FINANCE REVIEW:David Baum <br />Finance Director <br />TITLE:RESOLUTION of the Board of Directors of the San Leandro Public Financing <br />Authority Confirming Resolution No. 2018-002 PFA and Authorizing the Issuance <br />and Sale of 2018 Lease Revenue Bonds to Finance Capital Improvement <br />Projects for the City of San Leandro, and Approving Related Documents and <br />Official Actions <br />WHEREAS, on November 5, 2018, pursuant to Resolution No. 2018-002 PFA (the <br />“Original Resolution”), the Board of Directors of the San Leandro Public Financing Authority (the <br />"Authority") authorized the issuance, sale and delivery of lease revenue bonds in the aggregate <br />principal amount of not to exceed $22,000,000 under Article 4 of Chapter 5, Division 7, Title 1 of <br />the Government Code of the State of California, commencing with Section 6584 of said Code <br />(the “Bond Law”), for the purposes of financing certain capital improvement projects of the City of <br />San Leandro (the “City”), anticipated to consist of improvements to the Police Headquarters and <br />South Office Building, the Mulford Marina Branch Library, Manor Park Competition Pool, Farrelly <br />Pool, and Casa Peralta (the “Capital Facilities”), and the execution and delivery by the Authority <br />of documents related thereto; and <br />WHEREAS, as required by Section 6586.5 of the Bond Law, the City has caused <br />publication of a notice of a public hearing on the financing of the Capital Facilities once at least <br />five (5) days prior to the hearing in a newspaper of general circulation in the county; and <br />WHEREAS, the City Council and the Public Financing Authority of the City held a public <br />hearing at which all interested persons were provided the opportunity to speak on the subject of <br />financing the Capital Facilities, and, following the hearing, found that issuance of the 2018 Bonds <br />for the purpose of financing the Capital Facilities will result in significant public benefits of the type <br />described in Section 6586 of the Bond Law, including, but not limited to, a more efficient delivery <br />of City services to residential and commercial development and demonstrable savings in <br />effective interest rate, bond preparation, bond underwriting, and bond issuance costs; and <br />Page 1 City of San Leandro Printed on 11/27/2018