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File #: 18-936    Version: 1 Name:
Type: Resolution Status: Passed
File created: 10/9/2018 Departments: COUNTY MANAGER
On agenda: 10/23/2018 Final action: 10/23/2018
Title: Adopt a resolution: A) Approving the issuance by the San Mateo County Joint Powers Financing Authority of not to exceed $250 million aggregate principal amount of Lease Revenue Bonds (Capital Projects), 2018 Series A; and B) Approving the issuance by the San Mateo County Joint Powers Financing Authority of not to exceed $60 million aggregate principal amount of Lease Revenue Bonds (Refunding), 2019 Series A; and C) Authorizing the forms of and directing the execution and delivery of a 6th Amendment to Master Site Lease, 6th Amendment to Master Facility Lease, Bond Purchase Contract, Forward Delivery Bond, a continuing disclosure agreement and an official statement; and D) Authorizing a lease financing with the San Mateo County Joint Powers Financing Authority; and E) Approving the taking of all necessary actions in connection therewith.
Attachments: 1. 20181023_r_San Mateo JPFA 2018 and 2019 LRBs 4139-8738-2295 4.pdf, 2. 20181023_att_San Mateo County POS (Series 2018A and Series 2019A).pdf, 3. 20181023_att_Bond Purchase Contract.pdf, 4. 20181023_att_Forward Delivery Purchase.pdf, 5. 20181023_att_Continuing Disclosure Agmt.pdf, 6. 20181023_att_Sixth Amendment to Master Site Lease.pdf, 7. 20181023_att_Sixth Amendment to Master Facility Lease.pdf, 8. 20181023_att_Eight Supplemental Trust Agreement.pdf, 9. 20181023_att_Ninth Supplemental Trust Agreement.pdf
Special Notice / Hearing: None__
Vote Required: Majority

To: Honorable Board of Supervisors
From: John L. Maltbie, County Manager
Subject: Resolution Authorizing the issuance of up to $250 Million of Lease Revenue Bonds to finance the design, architecture, and construction of the County Office Building #3 and the Medical Center Improvements and up to $60 Million of Refunding Bonds.

RECOMMENDATION:
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Adopt a resolution:

A) Approving the issuance by the San Mateo County Joint Powers Financing Authority of not to exceed $250 million aggregate principal amount of Lease Revenue Bonds (Capital Projects), 2018 Series A; and

B) Approving the issuance by the San Mateo County Joint Powers Financing Authority of not to exceed $60 million aggregate principal amount of Lease Revenue Bonds (Refunding), 2019 Series A; and

C) Authorizing the forms of and directing the execution and delivery of a 6th Amendment to Master Site Lease, 6th Amendment to Master Facility Lease, Bond Purchase Contract, Forward Delivery Bond, a continuing disclosure agreement and an official statement; and

D) Authorizing a lease financing with the San Mateo County Joint Powers Financing Authority; and

E) Approving the taking of all necessary actions in connection therewith.

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BACKGROUND:
On April 11, 2017 the Board approved a financing plan and timelines for the following eight projects: Medical Center Improvements, County Office Building #3, Government Center Parking Structure, Lathrop House Relocation, Cordilleras Mental Health Facility, South San Francisco Health Campus, Maple Street Homeless Shelter, and County Radio Shop.

Today the County Managers Office is requesting the board to approve the financing for the County Office Building #3 and Medical Center Improvements.

DISCUSSION:
According to the County's Project Development Unit, the overall construction cost for the County Office Building #3 and the Medical Center Improvements is $272 million, which incl...

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