Agenda

Return

C. 58

To:	Contra Costa County Fire Protection District Board of Directors
From:	Lewis T. Broschard III, Chief, Contra Costa Fire Protection District
Date:	August 11, 2020

Contra

Costa

County

Subject:

Notice of Intent to Issue Tax-Exempt Obligations and Facilitate Reimbursement of Expenditures Made Prior to Issuance of Such Obligations

APPROVE	OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR	RECOMMENDATION OF BOARD COMMITTEE

Action of Board On: 08/11/2020

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:

Jackie Lorrekovich, Chief, Administrative Services (925) 941-3300

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: August 11, 2020
David Twa,

BY:	, Deputy

RECOMMENDATION(S):

ADOPT Resolution No. 2020/8 on behalf of the Board of Directors of the Contra Costa County Fire Protection District declaring its intent to issue tax-exempt obligations for certain public improvements and to facilitate the reimbursement of expenditures made prior to the issuance of such obligations.

FISCAL IMPACT:

No direct fiscal impact associated with adopting this resolution. Significant fiscal impact if the District proceeds with the financing of new fire station construction projects.

BACKGROUND:

The Contra Costa County Fire Protection District (the “District”) desires and intends to finance the acquisition, construction and improvement of certain public transportation capital projects, including but not limited to construction of a new Fire Station No. 86 at Willow Pass and Goble Drive in Bay Point and a new Fire Station No. 9 at Center Avenue and Willow Street in Pacheco (the "Project"). The District expects to cause the execution, delivery, and sale of tax exempt and/or taxable bonds, notes, or other obligations, in one or more series, for the purpose of providing financing for the Project and expects to use a portion of the proceeds of the obligations to reimburse the District for the reimbursement expenditures. This resolution authorizes the reimbursement of expenditures made prior to the issuance of such obligations.

CONSEQUENCE OF NEGATIVE ACTION:

The District would not be eligible to request reimbursement for eligible expenditures made prior to the issuance of financial obligations.