City Council

2. FINANCE COMMITTEE: JOINT ACTION APPROVE THE EXTENSION OF THE STANDBY BOND PURCHASE AGREEMENT (SBPA) WITH BMO BANK, N.A. (AS SUCCESSOR TO BANK OF THE WEST) RELATED TO THE PASEO COLORADO BONDS (Finance Dept.) Recommendation: It is recommended that the City Council: (1) Find that this action proposed in the agenda report is not a “project” subject to the California Environmental Quality Act (CEQA) pursuant to State CEQA Guidelines Section 21065 and within the meaning of Section 15378(b); (2) Adopt a resolution of the City Council of the City of Pasadena approving the form of and authorizing the execution and delivery of a fourth amendment to standby bond purchase agreement; and authorizing the execution and delivery of other related documents and approval of other documents and actions in connection therewith; and (3) To the extent that the proposed amendment of the SBPA could be considered subject to a new competitive selection process, grant the proposed amendment an exemption from the competitive selection process of the Competitive Bidding and Purchasing Ordinance, Pasadena Municipal Code Chapter 4.08, pursuant to Section 4.08.049(B) contracts for which the City’s best interests are served. It is recommended that the Pasadena Public Financing Authority: (1) Adopt a resolution of the Board of Directors of the Pasadena Public Financing Authority approving the form of and authorizing the execution and delivery of a fourth amendment to standby bond purchase agreement; and authorizing the execution and delivery of other related documents and approval of other documents and actions in connection therewith.