Agenda

Return

C. 54

To:	Board of Supervisors
From:	David Twa, County Administrator
Date:	November 10, 2020

Contra

Costa

County

Subject:

Reimbursement Resolution for Various Capital Projects

APPROVE	OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR	RECOMMENDATION OF BOARD COMMITTEE

Action of Board On: 11/10/2020

APPROVED AS RECOMMENDED

OTHER

Clerks Notes:

VOTE OF SUPERVISORS

AYE:

John Gioia, District I Supervisor
Candace Andersen, District II Supervisor
Diane Burgis, District III Supervisor
Karen Mitchoff, District IV Supervisor
Federal D. Glover, District V Supervisor

Contact:

Timothy M. Ewell, 5-2043

I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the Board of Supervisors on the date shown.
ATTESTED: November 10, 2020
David Twa,

BY:	, Deputy

RECOMMENDATION(S):

ADOPT Resolution No. 2020/304 allowing the County to reimburse certain expenditures related to the County Administration Center Replacement project, the Buchanan Field Airport Terminal Expansion project and the Contra Costa County Fire Protection District Station Replacement project.

FISCAL IMPACT:

No fiscal impact associated with this action. This is a non- binding action that would allow the County to reimburse itself for costs associated with the subject projects if the Board decides to issue bonds to finance the projects at a future date.

BACKGROUND:

The County is currently planning capital projects, including the County Administration Center Replacement project, the Buchanan Field Airport Terminal Expansion project, and the Contra Costa County Fire Protection District Station Replacement, further described in Exhibit A to Resolution No. 2020/304. The Board may wish to consider financing the cost of the project with bonds at a future date. This resolution would fulfill legal requirements to allow the county to reimburse itself with bond proceeds for certain costs incurred prior to a subsequent bond issuance.

Today's action does not obligate the Board or the County to complete the capital projects outlined in the Resolution or to issue any bonds. Those decisions will be before the Board at a future date. Today's action simply secures the County's ability to reimbure iteself for capital project expenditures related to the projects incurred prior to a potential future bond sale.

CONSEQUENCE OF NEGATIVE ACTION:

Inability to reimburse expenditures that occur prior to bond sale.

CHILDREN'S IMPACT STATEMENT:

No impact.