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Resolution#210871Passed
In plain English

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.

Introduced: Jul 27, 2021
Final action: Sep 29, 2021
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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.

1
Adoption of Local Goals and PoliciesSeptember 23, 2009
San Francisco Board of Supervisors

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.

Leg Final
2
Formation of Community Facilities DistrictSeptember 23, 2014
San Francisco Board of Supervisors

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.

Leg Final
3
Authorization of Bond IndebtednessJanuary 13, 2015
San Francisco Board of Supervisors

The Board approved Resolution No. 2-15, authorizing the issuance of up to $1.4 billion of bonded indebtedness on behalf of the CFD.

Leg Final
4
First Supplemental Resolution of IssuanceJune 13, 2017
San Francisco Board of Supervisors

The Board approved Resolution No. 247-17, allowing the issuance of special tax bonds on behalf of the CFD.

Leg Final
5
First Supplement to Fiscal Agent AgreementFebruary 1, 2019
San Francisco Board of Supervisors

The Board approved a First Supplement to the Fiscal Agent Agreement, facilitating the issuance of additional special tax bonds.

Leg Final
6
Second Supplement to Fiscal Agent AgreementMay 1, 2020
San Francisco Board of Supervisors

The Board approved a Second Supplement to the Fiscal Agent Agreement, allowing for further issuance of special tax bonds.

Leg Final
7
Introduction of Resolution for New BondsJuly 27, 2021
San Francisco Board of Supervisors

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.

CON Memo 072621
8
Adoption of ResolutionSeptember 21, 2021
San Francisco Board of Supervisors

The Board adopted the resolution authorizing the issuance of special tax bonds, which was subsequently approved by the Mayor.

Leg Final

Reconstructed from attached documents & the official record

Document trail
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How they voted

ADOPTED
Board of Supervisors ยท Sep 21, 2021Pass
4-0

Legislative journey

PresidentJul 27, 2021
โ†’RECEIVED AND ASSIGNED
Budget and Finance CommitteeSep 15, 2021
โœ“RECOMMENDEDPass
Board of SupervisorsSep 21, 2021
โœ“ADOPTEDPass
MayorSep 29, 2021
โœ“APPROVED