City Hall
1 Dr. Carlton B. Goodlett
Place
San Francisco, CA 94102-
4689
City and County of San Francisco
Legislation Details
File #:
Version:
1
240784
Name:
Authorizing Tax-Exempt and/or Taxable Certificates
of Participation - Multiple Capital Improvement
Projects - Not to Exceed $61,395,000
Status:
Type:
Ordinance
Passed
File created:
In control:
7/23/2024
Clerk of the Board
On agenda:
Final action:
10/3/2024
Enactment date:
10/3/2024
229-24
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 $61,395,000 (“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, at 1
South Van Ness Avenue 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;
ratifying previous actions taken in connection therewith, as defined herein; and repealing and
rescinding a portion of the authorization to execute and deliver certificates of participation of the City
established through the adoption of Ordinance No. 101-23 of the City on June 2, 2023.
Sponsors:
Mayor, Aaron Peskin, Rafael Mandelman
Attachments:
1. Leg Ver1, 2. Leg Dig Ver1, 3. DRAFT Suppl to Trust Agrmt, 4. DRAFT Suppl to Project Lease, 5.
DRAFT Suppl to Property Lease, 6. DRAFT Purchase Contract, 7. DRAFT Ntc Intent to Sell, 8.
DRAFT Official Ntc of Sale, 9. DRAFT Prelim Official Statmnt, 10. CPC Memo 072224, 11. OPF
Memo 090424, 12. OPF Presentation 091124, 13. BLA Rpt 091124, 14. Cmte Pkt 091124, 15. Board
Pkt 091724, 16. Board Pkt 092424, 17. Leg Final
Action By
Date
Action
Result
Ver.
ASSIGNED UNDER 30 DAY RULE
President
7/23/2024
1
RECOMMENDED
Budget and Finance Committee
9/11/2024
1
Pass
Board of Supervisors
9/17/2024
1
Board of Supervisors
9/24/2024
1
APPROVED
Mayor
10/3/2024
1