Report Prepared by: Venus Rodriguez, Finance Officer
Title
SUBJECT: Authorization to Issue Community Facilities District No. 2006-1 (Moraga of Merced) of the City of Merced, 2019 Special Tax Refunding Bonds, in the Aggregate Principal Amount not to Exceed $4,500,000, 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
REPORT IN BRIEF
Considers refunding bonds for Moraga of Merced.
RECOMMENDATION
City Council - Acting as the Legislative Body of Community Facilities District No. 2006-1 (Moraga of Merced) of the City of Merced, adopt a motion:
A. Adopting Resolution 2019-76, a Resolution of the City Council of the City of Merced, California, acting as the legislative body of Community Facilities District No. 2006-1 (Moraga of Merced) of the City of Merced authorizing the issuance of Community Facilities District No. 2006-1 (Moraga of Merced) of the City of Merced, 2019 special tax refunding bonds, in the aggregate principal amount not to exceed $4,500,000, 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 the Assistant City Manager or the City Attorney or the Finance Officer or the Mayor to execute necessary documents, certificates and related actions; and,
C. Authorizing the Finance Officer to make necessary budget adjustments.
Body
ALTERNATIVES
1. Approve the action as recommended.
2. Request modification or amendment to the docume...
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