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File #: #17-0257    Version: 1 Name:
Type: RESOLUTIONS Status: Passed
File created: 6/5/2017 In control: City Council
On agenda: 6/19/2017 Final action: 6/20/2017
Title: PUBLIC HEARING ON RESOLUTIONS OF THE CITY COUNCIL OF THE CITY OF SAN PABLO, CALIFORNIA, AND THE CITY OF SAN PABLO JOINT POWERS FINANCING AUTHORITY APPROVING THE ISSUANCE OF LEASE REVENUE BONDS SERIES 2017 BY THE CITY OF SAN PABLO JOINT POWERS FINANCING AUTHORITY; AUTHORIZING AND APPROVING A FIRST AMENDMENT TO SITE AND FACILITY LEASE, A FIRST AMENDMENT TO LEASE AGREEMENT, AN AMENDED AND RESTATED ASSIGNMENT AGREEMENT, A FIRST SUPPLEMENTAL INDENTURE, A PRELIMINARY OFFICIAL STATEMENT, A FINAL OFFICIAL STATEMENT, A CONTINUING DISCLOSURE AGREEMENT AND A BOND PURCHASE AGREEMENT; DECLARING THE CITY'S INTENTION TO REIMBURSE CERTAIN EXPENDITURES FROM THE PROCEEDS OF DEBT; APPROVING FINANCING TEAM MEMBERS AND CONTRACTS; AND AUTHORIZING CERTAIN OTHER ACTIONS IN CONNECTION THEREWITH
Attachments: 1. 1. RESO 2017-127 Resolution of the CIty Council - 2017 LRBs, 2. 2. RESO JPFA2017-001 Resolution of the Financing Authority - 2017 LRBs, 3. 3. DRAFT Preliminary Official Statement and Continuing Disclosure Agreement - 2017 LRBs.pdf, 4. 4. DRAFT First Supplemental Indenture - 2017 LRBs.pdf, 5. 5. DRAFT First Amendment to Site and Facility Lease - 2017 LRBs.pdf, 6. 6. DRAFT First Amendment to Lease Agreement - 2017 LRBs.pdf, 7. 7. DRAFT Amended and Restated Assignment Agreement - 2017 LRBs.pdf, 8. 8. DRAFT Bond Purchase Agreement - 2017 LRBs.pdf, 9. 9. Contract for Bond and Disclosure Counsel - Norton Rose Fulbright.pdf, 10. 10. Contract for Municipal Advisor - Steven Gortler.pdf, 11. 11. Engagement Letter for Underwriter - Stifel.pdf, 12. 12. Notice of Public Hearing & Proof of Publication 2017 LRBs.pdf
PREPARED BY: J. KELLY SESSIONS DATE OF MEETING: 06/19/17
SUBJECT:
TITLE
PUBLIC HEARING ON RESOLUTIONS OF THE CITY COUNCIL OF THE CITY OF SAN PABLO, CALIFORNIA, AND THE CITY OF SAN PABLO JOINT POWERS FINANCING AUTHORITY APPROVING THE ISSUANCE OF LEASE REVENUE BONDS SERIES 2017 BY THE CITY OF SAN PABLO JOINT POWERS FINANCING AUTHORITY; AUTHORIZING AND APPROVING A FIRST AMENDMENT TO SITE AND FACILITY LEASE, A FIRST AMENDMENT TO LEASE AGREEMENT, AN AMENDED AND RESTATED ASSIGNMENT AGREEMENT, A FIRST SUPPLEMENTAL INDENTURE, A PRELIMINARY OFFICIAL STATEMENT, A FINAL OFFICIAL STATEMENT, A CONTINUING DISCLOSURE AGREEMENT AND A BOND PURCHASE AGREEMENT; DECLARING THE CITY'S INTENTION TO REIMBURSE CERTAIN EXPENDITURES FROM THE PROCEEDS OF DEBT; APPROVING FINANCING TEAM MEMBERS AND CONTRACTS; AND AUTHORIZING CERTAIN OTHER ACTIONS IN CONNECTION THEREWITH

Label
CITY MANAGER RECOMMENDATION
Recommendation
Conduct Public Hearing and Adopt City Resolution and Financing Authority Resolution

BODY
COMPLIANCE STATEMENTS
Budget Spending Controls, General Fund Reserves Protection, Increase Financial Transparency, and Circle S Project Development are adopted policy items under the FY 2015-17 Council Priority Workplan Update, effective October 1, 2016.

CEQA Compliance Statement
The issuance of bonds is not a project under the California Environmental Quality Act (CEQA) as it is not an activity that may cause a direct or reasonably foreseeable indirect physical environment change pursuant to Public Resources Code section 21080(a) and 14 California Code of Regulations section 15002(d). If deemed a project, it can be would be exempt as having no possible significant effect on the environment pursuant to 14 California Code of Regulations section 15061. However, how the funds are used could require further review under CEQA as described in the staff report and resolution regarding the City Hall project that is also before the City Council at this meeting.

BACKGROUND
The City...

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