City Council

25.\nRESOLUTIONS AND APPROPRIATIONS RELATED TO SALE OF BONDS FOR\nUNDERGROUND UTILITY ASSESSMENT DISTRICT 2021-1 (WEST STREET)\nRecommendations:\n1. Adopt the attached Resolution titled, “A RESOLUTION OF THE CITY OF\nLAGUNA\nBEACH,\nCALIFORNIA,\nDETERMINING\nUNPAID\nASSESSMENTS IN UNDERGROUND UTILITY ASSESSMENT DISTRICT\nNO. 2021-1 (WEST STREET) AND THE MANNER OF PAYMENT\nTHEREOF AND LISTING BONDS ISSUED ON THE SECURITY\nTHEREOF”;\n2. Adopt the attached Resolution titled, “A RESOLUTION OF THE CITY OF\nLAGUNA BEACH, CALIFORNIA, AUTHORIZING THE ISSUANCE OF\nCITY OF LAGUNA BEACH UNDERGROUND UTILITY ASSESSMENT\nDISTRICT NO. 2021-1 (WEST STREET) LIMITED OBLIGATION\nIMPROVEMENT BONDS, AWARDING THE SALE OF SUCH BONDS,\nAPPROVING FISCAL AGENT AGREEMENT, OFFICIAL STATEMENT,\nBOND PURCHASE AGREEMENT, AND CONTINUING DISCLOSURE\nCERTIFICATE AND AUTHORIZING THE CITY MANAGER, OR\nASSISTANT CITY MANAGER TO NEGOTIATE THE TERMS OF THE\nPURCHASE OF THE BONDS”;\n3. Approve the purchase of Underground Utility Assessment District 2021-1 (West\nStreet) public offering municipal serial bonds at a 25-year term with an\nestimated true interest cost of 4.71%;\n4. Authorize the City Manager to award a task order to Accenture in the amount of\n$143,700 for construction management and inspection services, and approve\nproject-related expenses and change orders for additional construction\ninspection services that may be required in an amount not-to-exceed $15,000;\n5. Appropriate $6,580,699 for construction and other related expenses within\nUnderground Utility Assessment District 2021-1 (West Street), increase\nrevenues by the same amount, and authorize the City Manager to expend all\nappropriated funds; and\n6. Authorize the City Manager to enter into necessary utility company agreements\nand make advance payments to the utility companies for their construction\nservices for a total amount of $2,075,840.