City Hall
1 Dr. Carlton B. Goodlett
Place
San Francisco, CA 94102-
4689
City and County of San Francisco
Legislation Details
File #:
Version:
1
230833
Name:
Authorizing Tax-Exempt and/or Taxable Certificates
of Participation - Multiple Capital Improvement
Projects - Not to Exceed $77,170,000
Status:
Type:
Ordinance
Passed
File created:
In control:
7/18/2023
Clerk of the Board
On agenda:
Final action:
9/28/2023
Enactment date:
9/28/2023
197-23
Enactment #:
Title:
Ordinance authorizing the execution and delivery of Certificates of Participation, in one or more series
on a tax-exempt and/or taxable basis and from time to time, evidencing and representing an
aggregate principal amount of not to exceed $77,170,000 (“Certificates”), to finance and refinance
certain capital improvement projects within the City and County of San Francisco’s (“City”) capital plan
and generally consisting of critical repairs, renovations and improvements to City-owned buildings,
facilities, streets and works maintained and utilized by various City departments; approving the form of
a Supplement to Trust Agreement between the City and U.S. Bank Trust Company, National
Association (as successor-in-interest to U.S. Bank National Association), as trustee (“Trustee”)
(including certain indemnities contained therein); approving respective forms of a Supplement to
Property Lease and a Supplement to Project Lease, each between the City and the Trustee, for the
lease to the Trustee and lease back to the City of all or a portion of certain real property and
improvements owned by the City and located at 375 Laguna Honda Boulevard within the City and at 1
Moreland Drive, San Bruno, California, together with any other property determined by the City’s
Director of Public Finance to be made subject to the lease and lease back arrangements; approving
the form of an Official Notice of Sale and a Notice of Intention to Sell the Certificates; approving the
form of an Official Statement in preliminary and final form; approving the form of a purchase contract
between the City and one or more initial purchasers of the Certificates; approving the form of a
Continuing Disclosure Certificate, as defined herein; granting general authority to City officials to take
necessary actions in connection with the authorization, sale, execution and delivery of the Certificates;
approving modifications to documents, as defined herein; ratifying previous actions taken in
connection therewith, as defined herein; and repealing and rescinding a portion of the authorization to
issue Certificates of Participation of the City established through the adoption of Ordinance No. 226-
19 of the City on October 11, 2019.
Sponsors:
Mayor
Attachments:
1. Leg Ver1, 2. Leg Dig Ver1, 3. OPF Memo 071423, 4. DRAFT Supp to Trust Agrmt, 5. DRAFT Supp
to Project Lease, 6. DRAFT Supp to Property Lease, 7. DRAFT Purchase Contract, 8. DRAFT Prelim
Off Statemnt, 9. DRAFT Ntc of Intent to Sell, 10. DRAFT Off Ntc of Sale, 11. OPF Presentation
090623, 12. BLA Rpt 090623, 13. Cmte Pkt 090623, 14. Board Pkt 091223, 15. Board Pkt 091923,
16. Leg Final
Action By
Date
Action
Result
Ver.
ASSIGNED UNDER 30 DAY RULE
President
7/18/2023
1
RECOMMENDED
Budget and Finance Committee
9/6/2023
1
Pass
PASSED ON FIRST READING
Board of Supervisors
9/12/2023
1
Pass
FINALLY PASSED
Board of Supervisors
9/19/2023
1
Pass
APPROVED
Mayor
9/28/2023
1