Auditor-Controller recommending the Board consider the following: 1) Authorize the Auditor-Controller to negotiate and execute necessary contracts, including but not limited to contracts for bond counsel, underwriting services and special tax consulting services, that are needed in relation to the proposed new community facilities district (CFD) and financing requested by AKT (the Developer) for a subdivision in the "Promontory Specific Plan" after each agreement has been approved by County Counsel and Risk Management; 2) Authorize the Auditor-Controller to execute the Deposit and Reimbursement Agreement between El Dorado County and the Developer upon final approval by County Counsel and Risk Management; and 3) Authorize the Auditor-Controller to take all necessary steps to prepare all documents required to form the CFD, as soon as practical. FUNDING: Developer-funded.

Committee

Board of Supervisors

Requested by

Auditor-Controller's Office

Introduced

April 1, 2025

On agenda

April 22, 2025

Passed

April 22, 2025

Where it was heard

Board of Supervisors Apr 22, 2025 Approved Pass