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File #: 2019-1128    Version: 1 Name:
Type: Discussion Status: Agenda Ready
File created: 12/9/2019 In control: City Council
On agenda: 1/28/2020 Final action:
Title: CONSIDER RESOLUTION NO. 20-02-CSA, A RESOLUTION OF THE SUCCESSOR AGENCY TO THE CARSON REDEVELOPMENT AGENCY AUTHORIZING THE ISSUANCE OF BONDS IN A PRINCIPAL AMOUNT NOT TO EXCEED $90,000,000 TO FULFILL AN ENFORCEABLE OBLIGATION TO ASSIST IN THE REMEDIATION OF CERTAIN CONTAMINATED PROPERTY PURSUANT TO AN OWNER PARTICIPATION AGREEMENT, AS IMPLEMENTED AND SUPPLEMENTED BY A SETTLEMENT AGREEMENT, AUTHORIZING THE EXECUTION AND DELIVERY OF AN INDENTURE OF TRUST, A BOND PURCHASE AGREEMENT AND A CONTINUING DISCLOSURE AGREEMENT, APPROVING THE PRELIMINARY OFFICIAL STATEMENT AND THE FINAL OFFICIAL STATEMENT, AND AUTHORIZING TAKING OTHER ACTIONS RELATED THERETO; AND, RESOLUTION NO. 20-03-CSA, AUTHORIZING THE ISSUANCE OF BONDS TO REFUND CERTAIN OUTSTANDING BONDS OF THE FORMER REDEVELOPMENT AGENCY, AUTHORIZING THE EXECUTION AND DELIVERY OF AN INDENTURE OF TRUST, A FIRST SUPPLEMENTAL INDENTURE, BOND PURCHASE AGREEMENTS, ESCROW AGREEMENTS AND CONTINUING DISCLOSURE AGREEMENTS, APPROVING THE PRELIMINARY OF...
Attachments: 1. Ex. 1 - CARSON 2020 A B - RESOLUTION REFUNDING HOUSING AND 2007, 2. Ex. 2 - Carson 2020 A Housing Indenture, 3. Ex. 3 - Carson 2020 B First Supplemental Indenture -Series 2007 Bond Refunding, 4. Ex. 4 - Carson 2020 A Housing Bonds Escrow Agreement, 5. Ex. 5 - (Carson) SA to RDA TABS 2020 Series B - Escrow Agreement, 6. Ex. 6 - Carson 2020 TAB Series A and B POS (for agenda) Jan 23, 2020, 7. Ex. 7 - Carson 2020 TAB - BPA Series A, 8. Ex. 8 - Carson 2020 TAB - BPA Series B, 9. Ex. 9 - Series A Debt Service Savings Analysis for Successor Agency Agenda January 28, 10. Ex. 10 - Series B Debt Service Savings Analysis for Successor Agency Agenda January 28, 11. Ex. 11 - Carson 2020 C - Resolution, 12. Ex. 12 - (Carson) SA to RDA Taxable Subordinate TABS, Series 2020 C - Indenture, 13. Ex. 13 - Carson 2020 TAB Series C POS (for agenda) Jan 23, 2020, 14. Ex. 14 - Carson 2020 TAB - BPA Series C, 15. Ex. 15 - Series C Debt Service Analysis for Successor Agency Agenda January 28, 16. Ex. 16 - SA - DHA Consulting LLC Contract Amendment No. 3 - 28Jan20
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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Report to Successor Agency
Tuesday, January 28, 2020
Discussion


SUBJECT:
Title
CONSIDER RESOLUTION NO. 20-02-CSA, A RESOLUTION OF THE SUCCESSOR AGENCY TO THE CARSON REDEVELOPMENT AGENCY AUTHORIZING THE ISSUANCE OF BONDS IN A PRINCIPAL AMOUNT NOT TO EXCEED $90,000,000 TO FULFILL AN ENFORCEABLE OBLIGATION TO ASSIST IN THE REMEDIATION OF CERTAIN CONTAMINATED PROPERTY PURSUANT TO AN OWNER PARTICIPATION AGREEMENT, AS IMPLEMENTED AND SUPPLEMENTED BY A SETTLEMENT AGREEMENT, AUTHORIZING THE EXECUTION AND DELIVERY OF AN INDENTURE OF TRUST, A BOND PURCHASE AGREEMENT AND A CONTINUING DISCLOSURE AGREEMENT, APPROVING THE PRELIMINARY OFFICIAL STATEMENT AND THE FINAL OFFICIAL STATEMENT, AND AUTHORIZING TAKING OTHER ACTIONS RELATED THERETO; AND, RESOLUTION NO. 20-03-CSA, AUTHORIZING THE ISSUANCE OF BONDS TO REFUND CERTAIN OUTSTANDING BONDS OF THE FORMER REDEVELOPMENT AGENCY, AUTHORIZING THE EXECUTION AND DELIVERY OF AN INDENTURE OF TRUST, A FIRST SUPPLEMENTAL INDENTURE, BOND PURCHASE AGREEMENTS, ESCROW AGREEMENTS AND CONTINUING DISCLOSURE AGREEMENTS, APPROVING THE PRELIMINARY OFFICIAL STATEMENT AND THE FINAL OFFICIAL STATEMENT, AND AUTHORIZING TAKING OTHER ACTIONS RELATED THERETO; AND, AMENDMENT NO. 3 TO AN AGREEMENT FOR CONTRACT SERVICES WITH DHA CONSULTING, LLC FOR FINANCIAL CONSULTANT SERVICES RELATED TO THE 2020 BOND ISSUES IN AN AMOUNT NOT TO EXCEED $50,000; AND, A CONTINGENT PAYMENT OF $7,500 TO HARRELL & COMPANY ADVISORS FOR THE PREPARATION OF BOND DOCUMENTS RELATED TO 2020 SERIES C BONDS IF THE BONDS ARE NOT ISSUED (SUCCESSOR AGENCY)

Body
I. SUMMARY

The Dissolution Act permits successor agencies to refinance outstanding bonds or other obligations of a former redevelopment agency under certain circumstances. These actions are for the issuance of new bonds (2020 Tax Allocation Bonds Series C) and the refinancing of two current bond issues, described below (through Series A and B). The refinancing of the current bond issues creates a cash flow savings of nearly $8,0...

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