City Council

17.\nRESOLUTIONS AND APPROPRIATIONS RELATED TO SALE OF BONDS FOR\nUNDERGROUND UTILITY ASSESSMENT DISTRICT 2021-3 (FAIRVIEW/LA\nBREA)\nRecommendations:\n1. Adopt the attached Resolution titled, “A RESOLUTION OF THE CITY OF\nLAGUNA BEACH, CALIFORNIA, DETERMINING UNPAID ASSESSMENTS\nIN UNDERGROUND UTILITY ASSESSMENT DISTRICT NO. 2021-3\n(FAIRVIEW/LA BREA) AND THE MANNER OF PAYMENT THEREOF AND\nLISTING BONDS ISSUED ON THE SECURITY THEREOF”;\n2. Adopt the attached Resolution titled, “A RESOLUTION OF THE CITY OF\nLAGUNA BEACH, CALIFORNIA, AUTHORIZING THE ISSUANCE OF CITY\nOF LAGUNA BEACH UNDERGROUND UTILITY ASSESSMENT DISTRICT\nNO. 2021-3 (FAIRVIEW/LA BREA) LIMITED OBLIGATION IMPROVEMENT\nBONDS, AWARDING THE SALE OF SUCH BONDS, APPROVING FISCAL\nAGENT AGREEMENT, OFFICIAL STATEMENT, BOND PURCHASE\nAGREEMENT, AND CONTINUING DISCLOSURE CERTIFICATE AND\nAUTHORIZING THE CITY MANAGER OR FINANCE DIRECTOR TO\nNEGOTIATE THE TERMS OF THE PURCHASE OF THE BONDS”;\n3. Approve the purchase of Underground Utility Assessment District 2021-3\n(Fairview/La Brea) public offering municipal serial bonds at a 25-year term with\nan estimated true interest cost of 5.01%;\n4. Authorize the City Manager to award a task order to Accenture in the amount of\n$160,300 for construction management and inspection services, and authorize the\nCity Manager to approve project-related expenses and change orders for additional\nconstruction inspection services that may be required in an amount not-to-exceed\n$20,000;\n5. Appropriate $5,058,750 for construction and other related expenses within\nUnderground Utility Assessment District 2021-3 (Fairview/La Brea), increase\nrevenues by the same amount, and authorize the City Manager to expend all\nappropriated funds;\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 $1,208,831; and\n7. Determine that the action is exempt from California Environmental Quality Act\npursuant to CEQA Guidelines sections 15301(b), 15302(c) & (d), and 15303(d).