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Resolution#210727Passed
In plain English
This resolution allows the city to issue up to $140 million in sales tax revenue bonds to fund the Peninsula Corridor Electrification Project and up to $75 million to refinance existing farebox revenue bonds. It also authorizes new credit facilities for the project and working capital, each not exceeding $100 million at any time.
Resolution authorizing the issuance of Measure RR sales tax revenue bonds in an amount not to exceed (NTE) $140,000,000 to fund the Peninsula Corridor Electrification Project (PCEP) Fundings; the issuance of Measure RR sales tax revenue bonds in an amount not to exceed $75,000,000 to refund the Peninsula Corridor Joint Powers Board (PCJPB) Farebox Revenue Bonds, 2019 Series A; the replacement of the existing revolving credit facility for the PCEP with a new credit facility in an amount not to exceed $100,000,000 at any one time; and the replacement of the existing revolving credit facility for working capital purposes with a new credit facility in an amount not to exceed $100,000,000 at any one time.
How it got here
Document trail
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JPB Reso No. 2015-03 010815
PDF โResolution
JPB Reso No. 2015-04 010815
PDF โResolution
MTAB Reso No. 170516-065 051617
PDF โResolution
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How they voted
ADOPTED
Board of Supervisors ยท Jul 27, 2021Pass
4-0
RECOMMENDED AS COMMITTEE REPORT
Government Audit and Oversight Committee ยท Jul 23, 2021Pass
2-0
Legislative journey
PresidentJun 15, 2021
โRECEIVED AND ASSIGNED
Clerk of the BoardJul 16, 2021
ยทNOTICED
Government Audit and Oversight CommitteeJul 23, 2021
โRECOMMENDED AS COMMITTEE REPORTPass
Board of SupervisorsJul 27, 2021
โADOPTEDPass
MayorJul 30, 2021
โAPPROVED