City Council

Item 58: Master Lease Agreement to Finance One Fire-Rescue Helicopter and\nGeneral Fund Vehicles and Equipment.\nTotal Estimated Cost of Proposed Action and Funding Source:\nPlease refer to the Fiscal Considerations section of the Staff Report.\nCouncil District(s) Affected: Citywide.\nProposed Actions:\nAdopt the following Ordinance which was introduced on 10/8/2024, Item 330\n(Council voted 7-0, Councilmember Campbell-not present and\nCouncilmember Moreno-not present):\n(O-2025-39)\nOrdinance approving the City of San Diego’s Master Lease Agreement with\nBanc of America Public Capital Corporation for the purpose of financing one\nFire-Rescue helicopter and certain essential vehicles and equipment in an\namount not-to-exceed $40,000,000 and declaring its official intent to\nreimburse itself from the proceeds of tax-exempt lease-purchase obligations.\n6 votes required pursuant to Charter Section 99.\nCommittee Actions Taken:\nThis item was heard at the Budget and Government Efficiency Committee\nmeeting on September 11, 2024.\nACTION: Motion by Committee Member Moreno, second by Chair Lee, to\nrecommend Council approval of staff’s proposed actions.\nVOTE: 4-0; Lee-yea, LaCava-yea, Foster III-yea, Moreno-yea.\nDepartment of Finance: Jyothi Pantulu, (619) 236-6917\nCity Attorney Contact: Marguerite Middaugh