City Council

10B. Financing the acquisition of property at the northeast corner of Highway 101 and La Costa Avenue, Encinitas, California and declaring intent to issue bonds to be used to reimburse the City for expenditures prior to the issuance of such bonds. Environmental Considerations: This action is exempt from the provisions of the California Environmental Quality Act (CEQA) pursuant to Section 15378(b)(5) of the CEQA Guidelines, as an organizational or administrative activity of government that will not result in a direct or indirect physical change in the environment. Contact Person: Director of Finance/City Treasurer McBroome Recommended Action: 1) Approve the funding of the purchase of the property from the Contingency Reserve; 2) Authorize the financing to reimburse the Contingency Reserve and Adopt Resolution No. 2023-103, titled "A Resolution of the City Council of the City of Encinitas, California, Declaring Its Intent to Issue Tax-Exempt Bonds to be Used to Reimburse the City for Expenditures Prior to the Issuance of Such Bonds"; and 3) Adopt Resolution No. 2023- 102, titled "A Resolution of the City Council of the City of Encinitas, California, Amending the Fiscal Year 2023-24 Budget." 2023-09-20 Item 10B Financing of Surfer’s Point Property