File #: WRAG 18-106    Name: MoCo Financing Authority BOS
Type: WR General Agenda Status: Scheduled PM
File created: 5/9/2018 In control: Board of Supervisors of the Monterey County Water Resources Agency
On agenda: 5/22/2018 Final action:
Title: Consider adopting a Resolution: a. Authorizing the execution and delivery by the Agency of an Installment Purchase Agreement, a Pledged Ad Valorem and Pledged Assessment Payment Agreement, a Continuing Disclosure Certificate and a Bond Purchase Agreement in connection with the issuance of Monterey County Financing Authority 2018 Revenue Refunding Bonds and authorizing the distribution of a Preliminary Official Statement and an Official Statement in connection therewith and authorizing the execution of necessary documents and certificates and related actions; and b. Directing each Authorized Officer and any other official of the Agency and their duly authorized designees, deputies and agents the authority to amend and execute documents, determine appropriateness of bond terms and conditions, and to carry out, give effect to, and comply with the terms and intent of this Resolution. (ADDED VIA ADDENDUM)
Attachments: 1. Board Report, 2. Installment Purchase Agreement, 3. AV Tax and Pledge Assessment Pmt. Agreement, 4. Indenture, 5. Bond Purchase Agreement, 6. Continuing Disclosure Certificate, 7. Preliminary Official Statement, 8. Resolution of the MCWRA Board of Supervisors, 9. PowerPoint Presentation, 10. Completed Board Order & Resolution
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Title
Consider adopting a Resolution:
a. Authorizing the execution and delivery by the Agency of an Installment Purchase Agreement, a Pledged Ad Valorem and Pledged Assessment Payment Agreement, a Continuing Disclosure Certificate and a Bond Purchase Agreement in connection with the issuance of Monterey County Financing Authority 2018 Revenue Refunding Bonds and authorizing the distribution of a Preliminary Official Statement and an Official Statement in connection therewith and authorizing the execution of necessary documents and certificates and related actions; and
b. Directing each Authorized Officer and any other official of the Agency and their duly authorized designees, deputies and agents the authority to amend and execute documents, determine appropriateness of bond terms and conditions, and to carry out, give effect to, and comply with the terms and intent of this Resolution. (ADDED VIA ADDENDUM)

Report
RECOMMENDATION:
It is recommended that the Monterey County Water Resources Agency Board of Supervisors:

a. Adopt a Resolution authorizing the execution and delivery by the Agency of an Installment Purchase Agreement, a Pledged Ad Valorem and Pledged Assessment Payment Agreement, a Continuing Disclosure Certificate and a Bond Purchase Agreement in connection with the issuance of Monterey County Financing Authority 2018 Revenue Refunding Bonds and authorizing the distribution of a Preliminary Official Statement and an Official Statement in connection therewith and authorizing the execution of necessary documents and certificates and related actions; and
b. Direct each Authorized Officer and any other official of the Agency and their duly authorized designees, deputies and agents the authority to amend and execute documents, determine appropriateness of bond terms and conditions, and to carry out, give effect to, and comply with the terms and intent of this Resolution.

SUMMARY:
The current level of tax-exempt interest rates presents an opportunit...

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