City Council

3.a. Study Session: Placentia Public Safety Center Update and\nFunding Options Fiscal Impact: Expense: $9.7 to $10.7\nMillion Bond Depending on Selected Financing Structure\n($20.6 Million Project Total) Revenue: Lease Revenue\nBond, Reserves, Motorola Financing\nRecommended Action: It is recommended that the City\nCouncil:\n1) Receive and file the presentation; and 2) Select\nOption 1 as the preferred financing structure option\nfor a not-to-exceed total bond issue proceed of $10\nmillion and a maximum interest rate of 5.5%; and 3)\nShould the City Council elect to construct the balance\nof the facility, direct Staff and the Bond Financing\nTeam to structure Lease Revenue Bonds to finance a\nportion of the project cost; and 4) Direct Staff to\nreturn to the City Council with the Phase 2\nconstruction contract for its consideration and\napproval and bond documents to authorize the bond\nsale.