San Jose Ca.Gov
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File #: 18-847    Version: 1
Type: Strategic Support Status: Agenda Ready
File created: 5/30/2018 In control: Finance Department
On agenda: 6/19/2018 Final action:
Title: Actions Related to the 2018 Tax and Revenue Anticipation Note.
Sponsors: City Council
Attachments: 1. Memorandum, 2. Resolution
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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...Title

Actions Related to the 2018 Tax and Revenue Anticipation Note.

...Recommendations

a.                     Adopt a resolution:

                     1.                     Authorizing the issuance and sale of the City of San José 2018 Tax and Revenue Anticipation Note (the “2018 Note”) in the not to exceed principal amount of $150,000,000 to be sold through a private placement; and

                     2.                     Approving, in substantially final form, the Note Purchase Agreement and authorizing the Director of Finance or other authorized officers to execute the Note Purchase Agreement and other related documents, as necessary, in connection with the issuance of the 2018 Note and authorizing other related actions in connection therewith.

b.                     Adopt the following Appropriation Ordinance and Funding Sources Resolution amendments in the General Fund for Fiscal Year 2018-2019:

                     1.                     Increase the estimate for Other Revenue in the amount of $150,000,000; and

                     2.                     Increase the Citywide TRANs Debt Service appropriation to the Finance Department in the amount of $150,000,000.

CEQA: Not a Project, File No. PP17-010, City Organizational & Administrative Activities resulting in no changes to the physical environment; and File No. PP17-004, Government Funding Mechanism or Fiscal Activity with no commitment to a specific project which may result in a potentially significant physical impact on the environment. (Finance/City Manager)