City Council

2.b. A Resolution of the City Council of the City of Placentia\napproving the issuance by the Placentia Public Financing\nAuthority of not to exceed $10 Million of Placentia Public\nFinancing Authority Lease Revenue Bonds (Public Safety\nCenter Project) Series 2023a; approving the execution and\ndelivery of related documents in connection with the\noffering and sale of such bonds; and authorizing other\nmatters related thereto Fiscal Impact: Expense: Lease\npayments on lease revenue bonds in lieu of rental\npayments for current leased facility\nRecommended Action: It is recommended that the City\nCouncil:\n1) Open the Public Hearing concerning the sale of Lease\nRevenue Bonds to fund the construction of the\nPlacentia Public Safety Center; and\n2) Receive the Staff Report, consider all public\ntestimony, ask questions of Staff; and\n3) Close the Public Hearing; and\n\n4) Adopt Resolution R-2023-72 authorizing the issuance\nof bonds by the Placentia Public Financing Authority in\nan amount not-to-exceed $10 million, approving the\nform of the Indenture, Site Lease, Lease Agreement,\nPreliminary Official Statement, Bond Purchase\nAgreement and Continuing Disclosure Agreement; and\n5) Authorize the City Administrator to execute all the\nnecessary documents, in a form approved by the City\nAttorney.\nRecommended Action: It is recommended that the\nPlacentia Public Financing Authority:\nPlacentia Public Financing Authority A Resolution of\nthe Governing Board of the Placentia Public Financing\nAuthority authorizing the issuance of not to exceed\n$10 Million of Placentia Public Financing Authority\nLease Revenue Bonds (Public Safety Center Project)\nSeries 2023a; and approving the execution and\ndelivery of related documents in connection with the\noffering and sale of such bonds; and authorizing other\nmatters related thereto Fiscal Impact: Expense: Lease\npayments on lease revenue bonds in lieu of rental\npayments for current leased facility\n1) Adopt Resolution PPFA-2023-02 authorizing the\nissuance of bonds by the Placentia Public Financing\nAuthority in an amount not to exceed $10 million and\napproving the form of the Indenture, Site Lease,\nLease Agreement, Preliminary Official Statement,\nBond Purchase Agreement and, Assignment\nAgreement; and\n2) Authorize the Executive Director to execute all the\nnecessary documents, in a form approved by the\nAuthority’s Counsel.