City Council

Item 52: Master Lease Agreement to Finance Three Police Helicopters with Mission\nConfiguration Installation.\nTotal Estimated Cost of Proposed Action and Funding Source:\nPlease see the "Fiscal Considerations" section of the Staff Report.\nCouncil District(s) Affected: Citywide.\nProposed Actions:\nAdopt the following Ordinance which was introduced on 10/2/2023, Item 201 (Council\nvoted 9-0):\n(O-2024-22)\nOrdinance approving the City of San Diego’s Master Lease Agreement with Banc of\nAmerica Public Capital Corporation for the purpose of financing the purchase of three\npolice helicopters with mission configuration installation in an amount not to exceed\n$16,000,000 and declaring its official intent to reimburse itself from the proceeds of tax-\nexempt lease-purchase obligations.\n6 votes required pursuant to Charter Section 99.\nCommittee Actions Taken:\nThis item was heard at the Committee meeting on September 13, 2023.\nACTION: Motion by Vice Chair Moreno, second by Chair Montgomery Steppe, to\nrecommend Council approval of staff's proposed actions.\nVOTE: Montgomery Steppe-yea, Moreno-yea, LaCava-yea, Lee-yea.\nDepartment of Finance: Jyothi Pantulu, (619) 236-6917\nCity Attorney Contact: Marguerite Middaugh