RES 2024025 - Laserfiche WebLink

RESOLUTION NO. 2024-025 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PLEASANTON APPROVING, AUTHORIZING AND DIRECTING EXECUTION OF CERTAIN FINANCING DOCUMENTS AND CERTAIN ACTIONS IN CONNECTION WITH FINANCING IMPROVEMENTS TO THE CITY'S WATER SYSTEM WHEREAS, the City of Pleasanton (the "City") and the Housing Authority of the City of Pleasanton have entered into a Joint Exercise of Powers Agreement, dated as of June 29, 1993, establishing the Pleasanton Joint Powers Financing Authority (the "Authority") for the purpose, among others, of having the Authority issue its bonds to finance the acquisition, construction and improvement of public capital improvements; and WHEREAS, for the purpose of raising funds necessary to finance certain improvements to the City's water system (the "Water Projects"), the Authority proposes to issue revenue bonds under the provisions of Article 4 (commencing with Section 6584) of Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California (the "Act"), designated as the Pleasanton Joint Powers Financing Authority 2024 Water Revenue Bonds (the "Bonds"); and WHEREAS, pursuant to an Installment Sale Agreement between the City and the Authority (the "Installment Sale Agreement"), the City will purchase the Water Projects from the Authority, and the Authority will use the installment payments paid by the City pursuant to the Installment Sale Agreement to pay debt service on the Bonds; and WHEREAS, there has been prepared a Preliminary Official Statement containing information to be used in connection with the sale of the Bonds; and WHEREAS, the information required to be obtained and disclosed pursuant to Government Code Section 5852.1 prior to the issuance of the Bonds is set forth in the staff report accompanying this Resolution; and WHEREAS, the City Council has duly considered such transactions and wishes at this time to approve the financing documents related to the Bonds and certain related actions. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON DOES RESOLVE, DECLARE, DETERMINE AND ORDER THE FOLLOWING: SECTION 1. CEQA Finding. The City Council finds that the matter is exempt pursuant to the California Environmental Quality Act (CEQA) Guidelines §15060(c)(3), as this matter is not an activity subject to CEQA because it does not meet the CEQA definition of a project. Guidelines §15378(b)(4) states that government fiscal activities which do not involve any commitment to any specific project which may result in a potentially significant physical impact on the environment do not meet that definition. Therefore, the issuance of the Pleasanton Joint Powers Financing Authority 2024 Water Revenue Bonds is not subject to CEQA. SECTION 2. Issuance of Bonds by the Authority. The City Council hereby approves the issuance of the Bonds by the Authority under the Act for the purpose of providing funds to finance the acquisition, construction and installation of the Water Projects. The aggregate principal amount of the Bonds shall not exceed $19,000,000.