TO:
Honorable Mayor and Members of the City Council
THROUGH:
Talyn Mirzakhanian, City Manager
FROM:
Libby Bretthauer, Finance Director
Julie Bondarchuk, Financial Controller
Emy-Rose Hanna, Budget and Financial Analyst
SUBJECT:Title
Consideration of a Resolution Approving the Issuance of Not-to-Exceed $13.4 Million Certificates of Participation Series 2025A to Reimburse the General Fund Balance for the Purchase of 400 Manhattan Beach Boulevard and Not-to-Exceed $3.8 Million Certificates of Participation Series 2025B to Reimburse the City's General Fund for the Purchase of Public Safety Radio Communications Equipment; and Approving Trust Agreements, a Site Lease, a Lease Agreement, a Contract of Purchase, an Official Statement and a Continuing Disclosure Certificate (Budgeted)(Finance Director Bretthauer).
(Estimated Time: 30 Min.)
ADOPT RESOLUTION NO. 25-0103
Body
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RECOMMENDATION:
Staff recommends that the City Council adopt Resolution No. 25-0103 approving the issuance of Not-to-Exceed $13.4 Million Certificates of Participation Series 2025A to Reimburse the General Fund Balance for the Purchase of 400 Manhattan Beach Boulevard and Not-to-Exceed $3.8 Million Certificates of Participation Series 2025B to Reimburse the City's General Fund for the Purchase of Public Safety Radio Communications Equipment; and approving Trust Agreements, a Site Lease, a Lease Agreement, a Contract of Purchase, an Official Statement and Continuing Disclosure Certificate. Resolution No. 25-0103 also approves a Site and Facilities Lease, Lease Agreement, Trust Agreements, Contract of Purchase, Preliminary Official Statement, and Continuing Disclosure Certificate.
FISCAL IMPLICATIONS:
The City Council approved General Fund appropriations for the purchase of 400 Manhattan Beach Boulevard on April 1, 2025, and the purchase of public safety radio communications equipment on June 17, 2025. With the approval of both items, the C...
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