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File #: 110955    Version: 1 Name: Settlement of Lawsuits - Mitchell Engineering; Authorization of Bonds and Appropriation of Funds - Not to Exceed $15,750,000
Type: Ordinance Status: Passed
Introduced: 9/6/2011 In control: Board of Supervisors
On agenda: 9/6/2011 Final action: 10/11/2011
Enactment date: 10/11/2011 Enactment #: 208-11
Title: Ordinance: 1) authorizing settlement of all claims arising out of nine lawsuits involving Mitchell Engineering and the City and County of San Francisco; 2) declaring the intent of the San Francisco Public Utilities Commission to reimburse certain expenditures for settlement costs from proceeds of future bonded indebtedness for purposes of complying with Section 147(f) of the Internal Revenue Code of 1986, as amended; 3) authorizing the issuance of Settlement Bonds in connection therewith, as well as the associated financing cost to issue; 4) appropriating $15,750,000, including insurance proceeds in the total amount of $750,000, project construction funds in the total amount of $920,207, and proceeds of Settlement Bonds in the amount of $14,079,793; and 5) authorizing the use of substitute fund balance as a source in lieu of Settlement Bonds if available.
Attachments: 1. Comm_Packet_091511, 2. Board_Packet_092711, 3. Board_Packet_100411, 4. Legislation_Final
Legislation Details
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