RECOMMENDATION(S):
ADOPT Resolution No. 2016/537 allowing the County to reimburse certain expenditures related to various Health Services Department Capital projects.
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 project if the Board decides to issue bonds to finance the project at a future date.
BACKGROUND:
The County is currently planning capital improvements at various Health Services department facilities throughout the County. The County's project costs are currently estimated to be $30 million. 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.
CONSEQUENCE OF NEGATIVE ACTION:
Inability to reimburse expenditures that occur prior to bond sale.
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