This resolution allows San Francisco to issue and sell up to $35 million in Special Tax Bonds for the Transbay Transit Center project. It also approves related documents necessary for the bond issuance and outlines other related matters.
Resolution authorizing the issuance and sale of one or more series of Special Tax Bonds for City and County of San Francisco Community Facilities District No. 2014-1 (Transbay Transit Center) in the aggregate principal amount not to exceed $35,000,000; approving related documents, as defined herein, including an Official Statement, Third Supplement to Fiscal Agent Agreement, Bond Purchase Agreement and Continuing Disclosure Undertaking; and determining other matters in connection therewith, as defined herein.
How it got here
The legislation originated from the need to finance public improvements related to the Transbay Transit Center through the issuance of special tax bonds.
The Board adopted 'Local Goals and Policies for Community Facilities Districts and Special Tax Districts' which relate to the formation of community facilities districts under the Mello-Roos Act.
The Board adopted Resolution No. 350-14, forming the City and County of San Francisco Community Facilities District No. 2014-1 (Transbay Transit Center) and authorized the levy of special taxes and issuance of bonds.
The Board approved Resolution No. 2-15, authorizing the issuance of up to $1.4 billion of bonded indebtedness on behalf of the CFD.
The Board approved Resolution No. 247-17, allowing the issuance of special tax bonds on behalf of the CFD.
The Board approved a First Supplement to the Fiscal Agent Agreement, facilitating the issuance of additional special tax bonds.
The Board approved a Second Supplement to the Fiscal Agent Agreement, allowing for further issuance of special tax bonds.
The Board introduced a resolution to authorize the issuance of up to $35 million in special tax bonds for the CFD to fund the Downtown Rail Extension project.
The Board adopted the resolution authorizing the issuance of special tax bonds, which was subsequently approved by the Mayor.
Reconstructed from attached documents & the official record