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FINANCE COMMITTEE

June 1, 2015
10:30 A.M.
651 Pine Street, Room 101, Martinez

Supervisor Mary N. Piepho, Chair
Supervisor Federal D. Glover, Vice Chair

Agenda Items:

Items may be taken out of order based on the business of the day and preference of the Committee

Introductions

Public comment on any item under the jurisdiction of the Committee and not on this agenda (speakers may be limited to three minutes).

There were no comments from the Public.

Staff recommends approval of the Record of Action for the March 2, 2015 meeting.

The Record of Action for March 2, 2015, Finance Committee meeting was approved as recommended.

Chair Mary N. Piepho,

AYE:	Chair Mary N. Piepho
Passed

Attachments:

Draft Record of Action - March 2015

ACCEPT the April 2015 Projects Report from the Public Works Department.

Brian Balbas and Ramesh Kanzaria presented the Quarterly Capital Report. They noted that the report data was as of April 24, 2015 and that several projects would appear on the next report that were started since that date. The next report will include revisions directed by the Finance Committee in February. The report was approved as submitted.

Chair Mary N. Piepho,

AYE:	Chair Mary N. Piepho
Passed

Attachments:

Capital Projects Report - April 2015

1. APPROVE and AUTHORIZE the issuance of 2015 Lease Revenue Bonds, in the approximate amount of $71 million fund new capital projects, including the acquisition and installation of solar panels in certain county facilities and an expansion of the West County Health Clinic, and refunding of existing debt at a savings to the County.

2. FORWARD recommendation to the Board of Supervisors.

Tim Ewell presented a report proposing the potential issuance of 2015 Lease Revenue Bonds, in the approximate amount of $71 million. The Committee discussed the new projects included in the funding proposal including the negotiation with San Pablo regarding a land parcel. Patrick Godley indicted negotiations were on-going. Supervisor Piepho directed Mr. Godley to inform San Pablo of the importance of concluding the negotiation so that the project could be included in this bond sale. The cost of issuance associated with a standalone deal would make the project more expensive than necessary. The Committee recommended that the proposed financing be forwarded to the full Board of Supervisors for approval.

Chair Mary N. Piepho,

AYE:	Chair Mary N. Piepho
Passed

Attachments:

Staff Report

The next meeting is currently scheduled for July 6, 2015 at 10:30 AM.

Adjourn

The Finance Committee will provide reasonable accommodations for persons with disabilities planning to attend Finance Committee meetings. Contact the staff person listed below at least 72 hours before the meeting.

Any disclosable public records related to an open session item on a regular meeting agenda and distributed by the County to a majority of members of the Finance Committee less than 96 hours prior to that meeting are available for public inspection at 651 Pine Street, 10th floor, during normal business hours.

Public comment may be submitted via electronic mail on agenda items at least one full work day prior to the published meeting time.

For Additional Information Contact:

Lisa Driscoll, Committee Staff
Phone (925) 335-1021, Fax (925) 646-1353
lisa.driscoll@cao.cccounty.us