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Resolution#221265Passed
In plain English
This resolution allows San Francisco to issue and sell up to $30 million in general obligation bonds to fund health and recovery initiatives. It outlines the terms of the bonds, the sale process, and authorizes city officials to manage the issuance and related actions.
Resolution authorizing the issuance and sale of not to exceed $30,000,000 aggregate principal amount of one or more series of bonds on a tax-exempt or taxable basis of City and County of San Francisco General Obligation Bonds (Health and Recovery, 2020), Series 2023A; prescribing the form and terms of such bonds and any subseries designation; providing for the appointment of depositories and other agents for such bonds; providing for the establishment of accounts and/or subaccounts related to such bonds; authorizing the sale of such bonds by competitive or negotiated sale; approving the forms of the Official Notice of Sale and Notice of Intention to Sell Bonds and directing the publication of the Notice of Intention to Sell Bonds; approving the form of the Purchase Contract; approving the form of the Preliminary Official Statement and the execution of the Official Statement relating to the sale of such bonds; approving the form of the Continuing Disclosure Certificate; authorizing and approving modifications to such documents; ratifying certain actions previously taken, as defined herein; and granting general authority to City officials to take necessary actions in connection with the authorization, issuance, sale, and delivery of such bonds, as defined herein.
How it got here
Related / predecessor legislation
↑ predecessor#200478— not yet in database
↑ predecessor#200479— not yet in database
↑ predecessor#201336— not yet in database
↑ from
Ordinance#221266Passed
The ordinance allocates $30 million for park and recreation improvements, $42 million for Embarcadero seawall planning and projects, and $172 million for various affordable housing initiatives. These funds will be held in reserve until the bond proceeds are received.
Introduced Dec 13, 2022Final action Feb 16, 2023
How they voted
RECOMMENDED
Budget and Finance Committee · Jan 25, 2023Pass
1-0
Legislative journey
PresidentDec 13, 2022
→RECEIVED AND ASSIGNED
Budget and Finance CommitteeJan 25, 2023
✓RECOMMENDEDPass
MayorFeb 9, 2023
✓APPROVED