LA County Board

85. Issuance and Sale of County Community Facilities District No. 2021-01 (Valencia-Facilities) Improvement Area No. 3 Special Tax Bonds, Series 2026; Approval of Amended and Restated Acquisition, Funding and Disclosure Agreement for County of Community Facilities District No. 2021-01 (Valencia-Facilities); Adoption of a Reimbursement Resolution; and Annexation of Certain Parcels into County Community Facilities District No. 2021-02 (Valencia-Services) Recommendation: Acting as the Legislative Body of the County of Los Angeles Community Facilities District No. 2021-01 (Valencia - Facilities) Facilities CFD, find that the proposed action is not a project under the California Environmental Quality Act (CEQA). Alternatively, for that portion of the proposed action that relates to the Mission Village Project, Project No. 04-181 (Project), acting as a responsible agency, consider the Recirculated Environmental Impact Report (REIR) prepared and certified by the County as lead agency for the Project; certify that the Board has independently reviewed and considered the information contained in the REIR and reached its own conclusions regarding the environmental effects of the Facilities CFD's approvals related to the Project as shown in the REIR; adopt the Mitigation Monitoring and Reporting Program (MMRP) as applicable, finding that the MMRP is adequately designed to ensure compliance with the mitigation measures during Project implementation; and determine that the significant adverse effects of the Project have either been reduced to an acceptable level or are outweighed by the specific considerations of the Project, as outlined in the Environmental Findings of Fact and Statement of Overriding Considerations, which findings and statement are adopted and incorporated herein by reference as applicable. Adopt a resolution authorizing the issuance and sale of the 2026 Bonds in an aggregate principal amount not to exceed $40,000,000 to finance certain public improvements benefiting the property within the Facilities CFD; the execution and delivery of a Bond Purchase Agreement, a Continuing Disclosure Certificate, a Bond Indenture, and other legal documents required to issue the 2026 Bonds; and the distribution of a Preliminary Official Statement and Final Official Statement in connection with the sale of the 2026 Bonds. Authorize and direct the Chair to execute and deliver the Amended Acquisition Agreement. Also, acting as the Governing Body of the County, find that the proposed action is not a project under CEQA. Alternatively, for that portion of the proposed actions that provide funding for the Project, which was approved by the Board on July 18, 2017, determine that the recommended action is within the scope of the Mission Village Project impacts analyzed in a REIR previously certified by the Board. Authorize and direct the Chair to execute and deliver the Amended Acquisition Agreement. Adopt a Reimbursement Resolution, making a declaration of official intent to reimburse certain project expenditures with proceeds from special tax bonds issued by the Facilities CFD. Also, acting as the Legislative Body of the County of Los Angeles Community Services District, adopt the Annexation Resolution and accept the unanimous consent and approval of the owners of the parcels to be annexed into the Services CFD. (Supervisorial District 5). (Treasurer and Tax Collector and Department of Public Works) ADOPT (26-5925)