Report Prepared by: Venus Rodriguez-Interim Finance Officer
Title
SUBJECT: Authorization to Issue Refunding Bonds for Community Facilities District No. 2005-1 (Bellevue Ranch West) of the City of Merced (Improvement Area No. 1)
REPORT IN BRIEF
Consider Refunding Bonds for Bellevue Ranch West.
RECOMMENDATION
City Council - Acting as the Legislative Body of Community Facilities District No. 2005-1 (Bellevue Ranch West) of the City of Merced, adopt a motion:
A. Adopting Resolution 2017-58, A Resolution of the City Council of the City of Merced, California, acting as the legislative body of Community Facilities District No. 2005-1 (Bellevue Ranch West) of the City of Merced authorizing the Issuance of Community Facilities District No. 2005-1 (Bellevue Ranch West) of the City of Merced, 2017 Special Tax Refunding Bonds (Improvement Area No. 1) in the aggregate principal amount not to exceed $6,500,000, authorizing the sale of such bonds upon certain terms and conditions, approving an Official Statement, approving the execution and delivery of a Fiscal Agent Agreement, an Escrow Agreement, a Bond Purchase Agreement and a Continuing Disclosure Agreement, and authorizing the execution of necessary documents and certificates and related actions: and,
B. Authorizing the City Manager or Assistant City Manager or Interim City Attorney or Interim Finance Officer to execute necessary documents, certificates and related actions: and,
C. Authorizing the Interim Finance Officer to make necessary budget adjustments.
Body
ALTERNATIVES
1. Approve the action as recommended.
2. Request modification or amendment to the documents and provide direction to City
staff regarding the same.
3. Decline to authorize action as recommended.
AUTHORITY
Chapter 2.5 (commencing with Section 53311) of Part 1 of Division 2 of Title 5 of the California Government Code (the "Act"), commonly known as the "Mello-Roos Community Facilities Act of 1982," the City's CFD Goals and Policies ...
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