BOARD AGENDA MEMORANDUM
Government Code ? 84308 Applies: Yes ? No ?
(If "YES" Complete Attachment A - Gov. Code ? 84308)
SUBJECT:
Title
Adopt Resolutions Authorizing the Issuance of Water System Refunding Bonds, Refunding Notes, Revenue Certificates of Participation and Revenue Bonds in an Aggregate Not-To-Exceed Amount of $450 Million, and Approving the Execution and Delivery of Certain Documents and Certain Acts In Connection Therewith.
End
RECOMMENDATION:
Recommendation
A. Adopt the Resolution AUTHORIZING THE ISSUANCE OF WATER SYSTEM REFUNDING REVENUE BONDS AND NOTES AND REVENUE CERTIFICATES OF PARTICIPATION, AND APPROVING THE EXECUTION AND DELIVERY OF CERTAIN DOCUMENTS AND CERTAIN ACTS IN CONNECTION THEREWITH;
B. Adopt the Resolution AUTHORIZING THE ISSUANCE OF WATER SYSTEM REVENUE BONDS AND APPROVING THE EXECUTION AND DELIVERY OF CERTAIN DOCUMENTS AND CERTAIN ACTS IN CONNECTION THEREWITH; and
C. Authorize and direct the Chief Executive Officer, or their designee, and such other officers and staff of Valley Water, 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, Refunding Revenue Notes, Revenue Certificates of Participation, and Revenue Bonds.
Body
SUMMARY:
Approval of staff recommendations will allow the Santa Clara Valley Water District (Valley Water) to issue an aggregate not to exceed principal amount of $450 million of debt obligations for the following purposes:
* (i) Issue Refunding Bonds to refund outstanding Commercial Paper Certificates, Series A (Tax-Exempt), Series B (Taxable), and Revolving Lines of Credit, Series C (Tax-Exempt) and Series D (Taxable) Certificates, issued to finance projects for the Water Utility System (the "outstanding short-term obligations"); (ii) issue Refunding Notes to refund the portion of outstanding Series 2023C-1 and Taxable Series 20...
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