Item Coversheet

SAN BENITO COUNTY

AGENDA ITEM
TRANSMITTAL FORM

Mark Medina

District No. 1

Anthony Botelho

District No. 2

Chair

Peter Hernandez

District No. 3

 

Jim Gillio

District No. 4
Vice - Chair

Jaime De La Cruz

District No. 5

 

Item Number: 8.



MEETING DATE:  12/11/2018

DEPARTMENT: COUNTY ADMINISTRATION OFFICE

DEPT HEAD/DIRECTOR: Ray Espinosa

AGENDA ITEM PREPARER: Dulce Alonso

SBC DEPT FILE NUMBER: 119

SUBJECT:

COUNTY ADMINISTRATION OFFICE - R. ESPINOSA

Adopt a Resolution declaring an intention to reimburse expenditures for certain capital projects from the proceeds of tax-exempt obligations. 

SBC FILE NUMBER: 119

RESOLUTION NO: 2018-85



AGENDA SECTION:

CONSENT AGENDA

BACKGROUND/SUMMARY:

The County is in the process of constructing the approved County Behavioral Health Facility capital project. Total project costs for the Behavioral Health Facility are estimated to be $11,033,000, with some of the funding to be provided from the Behavioral Health Trust Fund. It is anticipated that the project will require the expenditure of General Fund financing until the issuance of tax-exempt bonds or certificates of participation (Obligations) are approved. To provide funds to aid in the construction of the Behavioral Health Center, the County intends to expend funds for the Project and to reimburse itself, in whole or in part, from the proceeds of the tax-exempt financing, should the County decide to pursue and succeed at external financing. The attached resolution contains the declaration necessary to reimburse any expenditures made on behalf of the project from tax-exempt external financing.


BUDGETED:

Yes

SBC BUDGET LINE ITEM NUMBER:



CURRENT FY COST:



STAFF RECOMMENDATION:

Adopt a Resolution declaring an intention to reimburse expenditures for certain capital projects from the proceeds of tax-exempt obligations and authorize the Chair to sign.



ADDITIONAL PERSONNEL: No

BOARD ACTION RESULTS:

Approved per staff recommendation (4/0 vote). 
ATTACHMENTS:
DescriptionUpload DateType
Resolution Declaring Intention to Reimburse Expenditures12/5/2018Resolution