City Council

10B. Financing the acquisition of property at the northeast corner\nof Highway 101 and La Costa Avenue, Encinitas, California\nand declaring intent to issue bonds to be used to reimburse\nthe City for expenditures prior to the issuance of such bonds.\nEnvironmental Considerations: This action is exempt from\nthe provisions of the California Environmental Quality Act\n(CEQA) pursuant to Section 15378(b)(5) of the CEQA\nGuidelines, as an organizational or administrative activity of\ngovernment that will not result in a direct or indirect physical\nchange in the environment. Contact Person: Director of\nFinance/City Treasurer McBroome\nRecommended Action: 1) Approve the funding of the\npurchase of the property from the Contingency Reserve; 2)\nAuthorize the financing to reimburse the Contingency\nReserve and Adopt Resolution No. 2023-103, titled "A\nResolution of the City Council of the City of Encinitas,\nCalifornia, Declaring Its Intent to Issue Tax-Exempt Bonds to\nbe Used to Reimburse the City for Expenditures Prior to the\nIssuance of Such Bonds"; and 3) Adopt Resolution No. 2023-\n102, titled "A Resolution of the City Council of the City of\nEncinitas, California, Amending the Fiscal Year 2023-24\nBudget."\n2023-09-20 Item 10B Financing of Surfer’s Point Property