Title
RESOLUTION of the Board of Directors of the San Leandro Public Financing Authority Confirming Resolution No. 2018-002 PFA and Authorizing the Issuance and Sale of 2018 Lease Revenue Bonds to Finance Capital Improvement Projects for the City of San Leandro, and Approving Related Documents and Official Actions
Body
WHEREAS, on November 5, 2018, pursuant to Resolution No. 2018-002 PFA (the "Original Resolution"), the Board of Directors of the San Leandro Public Financing Authority (the "Authority") authorized the issuance, sale and delivery of lease revenue bonds in the aggregate principal amount of not to exceed $22,000,000 under Article 4 of Chapter 5, Division 7, Title 1 of the Government Code of the State of California, commencing with Section 6584 of said Code (the "Bond Law"), for the purposes of financing certain capital improvement projects of the City of San Leandro (the "City"), anticipated to consist of improvements to the Police Headquarters and South Office Building, the Mulford Marina Branch Library, Manor Park Competition Pool, Farrelly Pool, and Casa Peralta (the "Capital Facilities"), and the execution and delivery by the Authority of documents related thereto; and
WHEREAS, as required by Section 6586.5 of the Bond Law, the City has caused publication of a notice of a public hearing on the financing of the Capital Facilities once at least five (5) days prior to the hearing in a newspaper of general circulation in the county; and
WHEREAS, the City Council and the Public Financing Authority of the City held a public hearing at which all interested persons were provided the opportunity to speak on the subject of financing the Capital Facilities, and, following the hearing, found that issuance of the 2018 Bonds for the purpose of financing the Capital Facilities will result in significant public benefits of the type described in Section 6586 of the Bond Law, including, but not limited to, a more efficient delive...
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