File #: 24-1191    Version: 1 Name:
Type: Action Item Status: Agenda Ready
File created: 11/18/2024 In control: BOARD OF SUPERVISORS
On agenda: 12/3/2024 Final action:
Title: 9:05 A.M. - PUBLIC HEARING - (a) Consideration of Lease Financing by the County of Lake and Lake County Public Financing Authority (the “Authority”) to provide financing for certain public capital improvements (Seated as the Lake County Board of Supervisors and Board of Directors for Lake County Public Financing Authority) (b) Seated as the Lake County Board of Supervisors, Consideration of Resolution of the County of Lake approving proceedings by the Lake County Public Financing Authority for the issuance of Lease Revenue Bonds in an initial aggregate principal amount not to exceed $25,000,000 (c) Seated as the Board of Directors for Lake County Public Financing Authority, Consideration of Resolution of the Lake County Public Financing Authority authorizing the issuance of Lease Revenue Bonds in an initial aggregate principal amount not to exceed $25,000,000
Sponsors: Administrative Office, Auditor-Controller/County Clerk, Treasurer-Tax Collector
Attachments: 1. County Resolution (Lease Revenue Bonds), 2. Authority Resolution revised (Lease Revenue Bonds), 3. 1 Indenture (Lease Revenue Bonds), 4. 2 Site and Facility Lease (Lease Revenue Bonds), 5. 3 Lease Agreement (Lease Revenue Bonds), 6. 4 Memo of Lease (Lease Revenue Bonds), 7. 5 Assignment Agreement (Lease Revenue Bonds), 8. 6 Official Notice of Sale, 9. 7 Bond Purchase Agreement, 10. 8 Preliminary Official Statement, 11. 8b Appendix A to POS, 12. 8c Appendix F to POS (Continuing Disclosure Certificate)
Memorandum


Date: December 3, 2024

To: The Honorable Bruno Sabatier, Chair, Lake County Board of Supervisors

From: Susan Parker, County Administrative Officer/Executive Director, Lake County Public Financing Authority
Stephen L. Carter Jr., Assistant County Administrative Officer
Jenavive Herrington, Auditor - Controller / Clerk
Patrick Sullivan, Treasurer - Tax Collector

Subject: 9:05 A.M. - PUBLIC HEARING - (a) Consideration of Lease Financing by the County of Lake and Lake County Public Financing Authority (the "Authority") to provide financing for certain public capital improvements (Seated as the Lake County Board of Supervisors and Board of Directors for Lake County Public Financing Authority)

(b) Seated as the Lake County Board of Supervisors, Consideration of Resolution of the County of Lake approving proceedings by the Lake County Public Financing Authority for the issuance of Lease Revenue Bonds in an initial aggregate principal amount not to exceed $25,000,000 in connection with financing certain capital improvements for the County, authorizing and directing execution of a site lease and a lease agreement, and certain other documents, approving an official statement, and authorizing other related actions

(c) Seated as the Board of Directors for Lake County Public Financing Authority, Consideration of Resolution of the Lake County Public Financing Authority authorizing the issuance of Lease Revenue Bonds in an initial aggregate principal amount not to exceed $25,000,000 in connection with financing certain capital improvements for the County of Lake, authorizing and directing execution of an indenture of trust, a site lease, a lease agreement, an assignment agreement, and certain other documents, approving an official statement, and authorizing other related actions.

Executive Summary:
On July 16, 2024, your Board provided authorization for staff to explore two options to finance the Armory Repurposing Project and directed sta...

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