SUBJECT: Authorization to Issue Community Facilities District No. 2006-1 (Moraga of Merced) of the City of Merced, 2019 Special Tax Refunding Bonds, in the Aggregate Principal Amount not to Exceed $4,500,000, Authorizing the Sale of Such Bonds Upon Certain Terms and Conditions, Approving an Official Statement, Approving the Execution and Delivery of a Fiscal Agent Agreement, an Escrow Agreement, a Bond Purchase Agreement and a Continuing Disclosure Agreement, and Authorizing the Execution of Necessary Documents and Certificates and Related Actions REPORT IN BRIEF Considers refunding bonds for Moraga of Merced. RECOMMENDATION City Council - Acting as the Legislative Body of Community Facilities District No. 2006-1 (Moraga of Merced) of the City of Merced, adopt a motion: A. Adopting Resolution 2019-76, a Resolution of the City Council of the City of Merced, California, acting as the legislative body of Community Facilities District No. 2006-1 (Moraga of Merced) of the City of Merced authorizing the issuance of Community Facilities District No. 2006-1 (Moraga of Merced) of the City of Merced, 2019 special tax refunding bonds, in the aggregate principal amount not to exceed $4,500,000, authorizing the sale of such bonds upon certain terms and conditions, approving an official statement, approving the execution and delivery of a fiscal agent agreement, an escrow agreement, a bond purchase agreement and a continuing disclosure agreement, and authorizing the execution of necessary documents and certificates and related actions; and, B. Authorizing the City Manager or the Assistant City Manager or the City Attorney or the Finance Officer or the Mayor to execute necessary documents, certificates and related actions; and, C. Authorizing the Finance Officer to make necessary budget adjustments.

Committee

City Council/Public Finance and Economic Development Authority/Parking Authority

Introduced

September 23, 2019

On agenda

November 4, 2019

Passed

November 4, 2019