This resolution allows San Francisco to issue and sell up to $25.13 million in Special Tax Bonds for improvements in the Treasure Island Community Facilities District. It also approves related documents necessary for the bond issuance.
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. 2016-1 (Treasure Island) with respect to its Improvement Area No. 2 in the aggregate principal amount not to exceed $25,130,000 approving related documents, including an Official Statement, Fiscal Agent Agreement, Bond Purchase Agreement, and Continuing Disclosure Certificate, and determining other matters in connection therewith, as defined herein.
How it got here
The legislation originated from the need to finance public infrastructure improvements on Treasure Island through the issuance of special tax bonds.
The Board adopted Resolution No. 8-17, establishing the City and County of San Francisco Community Facilities District No. 2016-1 (Treasure Island) to finance public facilities.
The Board adopted Resolution No. 410-20, confirming the annexation of property to Improvement Area No. 2 and establishing a maximum debt limit for the area.
The Controller's Office submitted a memorandum to the Board requesting approval for the issuance of Special Tax Bonds for Improvement Area No. 2.
The Budget and Finance Committee recommended the resolution authorizing the issuance of the Special Tax Bonds.
The Board adopted the resolution authorizing the issuance of Special Tax Bonds for Improvement Area No. 2 in an amount not to exceed $25,130,000.
The Mayor approved the resolution, allowing the issuance of the Special Tax Bonds.
Reconstructed from attached documents & the official record
