...Title
Issuance of City of San José Financing Authority Commercial Paper for the Advanced Metering Infrastructure System. - TO BE HEARD CONCURRENTLY WITH SJFA ITEM 1
...Recommendations
(a) Conduct a public hearing in accordance with Section 6586.5 of the California Government Code, to hear and consider information concerning the approval by the City of San José of a lease financing by the City of San José Financing Authority and the City for certain public capital improvements of the City, consisting of the Advance Metering Infrastructure project (AMI Project), a system-wide upgrade of approximately 27,000 water meters to a cellular based advanced metering infrastructure system within the City of San José Municipal Water System, through the issuance of lease revenue commercial paper notes by the City of San José Financing Authority, and the significant public benefit of such financing by the City of San José Financing Authority in accordance with the criteria specified in Section 6586 of the California Government Code.
(b) Adopt a resolution of the City of San José Financing Authority approving and authorizing the issuance of lease revenue commercial paper notes in the amount not to exceed $23,000,000 to finance the purchase and installation of the AMI Project for the City of San José Environmental Services Department Water Resources Division.
(c) Adopt a resolution of the City of San José approving and authorizing the issuance of City of San José Financing Authority lease revenue commercial paper notes in the amount not to exceed $23,000,000 to finance the purchase and installation of the AMI Project for the City of San José Environmental Services Department Water Resources Division.
CEQA: Categorically Exempt, File No. ER25-032, CEQA Guidelines Section 15301, Existing Facilities. (Finance/Environmental Services)