Title
Consider adopting a resolution of the Governing Board of the East Garrison Public Financing Authority to:
a. Authorize the issuance of Community Facilities District No. 2006-1 (East Garrison Project), East Garrison Public Financing Authority, County of Monterey, State of California, Special Tax Bonds, Series 2019, in an aggregate principal amount not to exceed $12,000,000;
b. Authorize execution and delivery of a First Supplemental Indenture, a Bond Purchase Agreement, and a Continuing Disclosure Agreement;
c. Authorize the distribution of an Official Statement in connection therewith;
d. Authorize the Chair of the East Garrison Public Financing Authority to execute necessary documents, certificates, and related actions; and
e. Authorize and direct the Auditor-Controller to amend the Fiscal Year 2019-20 Adopted Budget, Fund 180, Appropriation Unit RMA105, increasing appropriations for Infrastructure Account 7541 by $11,670,567, financed by an increase of $11,670,567 from Contributions from Property Owners Account 5980 (4/5 vote required).
f. Authorize and direct the Auditor-Controller to amend the FY 2019-20 Adopted Budget for East Garrison Community Facility District, Fund 180, Appropriation Unit RMA105, to increase appropriations by $198,440, where the financing source is unassigned fund balance (180-3101) (4/5th vote required); and
g. Authorize and direct the Auditor-Controller to transfer $198,440 for Fiscal Year 2019-20 from East Garrison Community Facility District, Fund 180, Appropriation Unit RMA105, to East Garrison Community Facilities District 2006-1, Agency Fund 510 (4/5th vote required).
Report
RECOMMENDATION:
It is recommended that the East Garrison Public Financing Authority Board of Directors approve a Resolution as the Governing Board of the East Garrison Public Financing Authority to:
a. Authorize the issuance of Community Facilities District No. 2006-1 (East Garrison Project), East Garrison Public Financing Authority, County of Monterey...
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