REPORT TO THE CITY COUNCIL
October 15, 2020
FROM: MICHAEL LIMA, Controller/Finance Director
Finance Department
SUBJECT
Title
Actions pertaining to bonds for the Animal Control Facility:
1. ***RESOLUTION - Ratifying, approving and supplementing Resolution No. 2020-254, authorizing the release of facilities (Animal Control Shelter), extension of collateralization (Municipal Service Center, Municipal Auditorium, Parking Garage #4, City Hall), and amendment to the Facilities Lease and Facilities Sublease relating to the Fresno Joint Powers Financing Authority Lease Revenue Refunding Bonds (Various Capital Projects), Series 2020 and approving the taking of all necessary or desirable actions in connection therewith (Council action) (Requires 5 affirmative votes) (Subject to Mayor's veto)
2. RESOLUTION - Ratifying, approving and supplementing Resolution No. 48, authorizing the release of facilities (Animal Control Shelter) and extension of collateralization (Municipal Service Center, Municipal Auditorium, Parking Garage #4, City Hall) and amendment of the Facilities Sublease relating to the Fresno Joint Powers Financing Authority Lease Revenue Refunding Bonds (Various Capital Projects), Series 2020 and approving the taking of all necessary or desirable action in connection therewith (Authority action)
Body
RECOMMENDATION
Staff recommends that Council and the JPFA Board approve the accompanying Resolutions authorizing the release of the animal control shelter under the 2008 Master Lease, extending the collateralization of the Municipal Service Center, Municipal Auditorium, and Parking Garage #4 from 2024 to 2039, and extending the collateralization of City Hall from 2039 until 2046.
EXECUTIVE SUMMARY
On September 24, 2020, Council and the JPFA Board approved the issuance of bonds to construct and equip a new animal control shelter. As part of that approval, the animal control shelter itself was pledged as collateral for the bonds. After that approval, ...
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