...Title
City of San José 2020 Tax and Revenue Anticipation Notes.
...Recommendations
(a) Adopt a resolution:
(1) Authorizing the issuance and sale of the City of San José 2020 Tax and Revenue Anticipation Notes (the “2020 Notes”) in an aggregate principal amount not to exceed $130,000,000 to be sold through private placements; and
(2) Approving, in substantially final form, the Note Purchase Agreements and authorizing the Director of Finance or other authorized officers to execute the Note Purchase Agreements with Bank of America, N.A., and U.S. Bank National Association and other related documents, as necessary, in connection with the issuance of the 2020 Notes 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 2020-2021:
(1) Increase the estimate for Other Revenue in the amount of $130,000,000; and
(2) Increase the Citywide TRAN Debt Service appropriation to the Finance Department in the amount of $130,000,000.
CEQA: Not a Project, File No. PPl7-004, 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)
TO BE HEARD BEFORE CONSENT CALENDAR