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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.

Introduced: Jun 15, 2021
Final action: Jul 30, 2021
Sponsors: Shamann Walton
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How it got here

Document trail
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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
โ†’RECEIVED AND ASSIGNED
Clerk of the BoardJul 16, 2021
ยทNOTICED
Government Audit and Oversight CommitteeJul 23, 2021
โœ“RECOMMENDED AS COMMITTEE REPORTPass
Board of SupervisorsJul 27, 2021
โœ“ADOPTEDPass
MayorJul 30, 2021
โœ“APPROVED