BOARD AGENDA MEMORANDUM
SUBJECT:
Title
Adopt Resolution Authorizing the Issuance of Not to Exceed $120 Million Water System Refunding Revenue Bonds, Authorizing the Execution and Delivery of Not to Exceed $155 Million Revenue Certificates of Participation, Approving the Execution and Delivery of Certain Documents, and Authorizing Certain Acts in Connection Therewith. (Continued from August 25, 2020)
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RECOMMENDATION:
Recommendation
A. Adopt the Resolution AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $120 MILLION REFUNDING REVENUE BONDS, AUTHORIZING THE EXECUTION AND DELIVERY OF NOT TO EXCEED $155 MILLION REVENUE CERTIFICATES OF PARTICIPATION, APPROVING THE EXECUTION AND DELIVERY OF CERTAIN DOCUMENTS, AND AUTHORIZING CERTAIN ACTS IN CONNECTION THEREWITH; and
B. Authorize and direct the Chief Executive Officer, Assistant Chief Executive Officer-Operations, Chief Financial Officer, Treasury and Debt Officer, District Counsel, the Clerk of the Board, and such other officers and staff of the Santa Clara Valley Water District, acting singly, to do any and all things, and to execute and deliver any and all documents, which such officers may deem necessary or advisable in order to consummate the sale and delivery of the Refunding Revenue Bonds and the Revenue Certificates of Participation.
Body
SUMMARY:
Approval of staff recommendations will allow the Santa Clara Valley Water District ("Valley Water") (a) to issue a principal amount of up to $120 million of Water System Refunding Revenue Bonds, Series 2020A (Tax-Exempt) and Series 2020B (Taxable) (the "2020A Bonds" and the "2020B Bonds," respectively and collectively, the "Bonds"); and (b) cause the Santa Clara Valley Water District Public Facilities Financing Corporation to execute and deliver up to $155 million of Revenue Certificates of Participation (Water Utility System Improvement Projects), Series 2020C (Tax-Exempt) and Series 2020D (Taxable) (the "2020C Certificates" and the "2020D Certificates," respec...
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