Special Notice / Hearing: None__
Vote Required: 4/5ths
To: Honorable Board of Supervisors
From: Michael Callagy, County Manager
Subject: Resolutions Authorizing the issuance of up to $265 million of 2021 Series A Lease Revenue Bonds to finance the design, architecture, and construction of the Cordilleras Mental Health Center and to refund all or a portion of the 2014 Series A lease revenue bonds; and the issuance of up to $40 million of 2021 Series B Refunding Bonds to refund all or a portion of the 2013 Series A lease revenue bonds
RECOMMENDATION:
title
Adopt resolutions:
A) For the 2021 Series A (Refunding and Capital Projects) bonds:
1. Approving the issuance by the San Mateo County Joint Powers Financing Authority of not to exceed $265,000,000 aggregate principal amount of lease revenue bonds (Refunding and Capital projects), to finance certain public capital improvements and the refunding of all or a portion of the outstanding San Mateo County Joint Powers Financing Authority lease revenue bonds (Capital Projects), 2014 Series A, to pay costs of issuance of the bonds, and to pay capitalized interest on the bonds; and
2. Authorizing the forms of and directing the execution and delivery of a First Supplemental Trust Agreement, a First Amendment to Facility Lease, a First Amendment to Site Lease, a Bond Purchase Contract, a continuing disclosure agreement and an Official Statement; and
3. Authorizing a lease financing with the San Mateo County Joint Powers Financing Authority based on a finding of significant public benefit; and
4. Approving the taking of all necessary actions in connection therewith.
B) For the 2021 Series B (Refunding) bonds:
1. Approving the issuance by the San Mateo County Joint Powers Financing Authority of not to exceed $40,000,000 aggregate principal amount of refunding lease revenue bonds to refund all or a portion of the outstanding San Mateo County Joint Powers Financing Authority lease revenue bonds (...
Click here for full text