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<br />. <br /> <br />. <br /> <br />H. Key elements of the recommended finance plan include the proposed <br />issuance of approximately $3.9 billion in non-recourse toll-revenue bonds, including an <br />estimated $3.4 billion in Senior Lien Fixed-Rate Bonds and $475 million in Junior Lien <br />Fixed Rate Bonds which would be paid out of future toll revenues and development <br />impact fees. <br /> <br />I. In February 2004, the Boards of Directors of SJHTCA and F/ETCA <br />approved the sale of the assets of each of said agencies to the TCS pursuant to the <br />recommended finance plan. <br /> <br />J. On May 13, 2004, the Board of Directors of the TCS is scheduled to make <br />a decision regarding the proposed acquisition of the assets of the agencies. <br /> <br />Section 2: The City Council does hereby support the acquisition of the assets <br />of the San Joaquin Hills Transportation Corridor Agency and the Foothill/Eastern <br />Transportation Corridor Agency by the Transportation Corridor System pursuant to the <br />recommended finance plan <br /> <br />Section 3: This Resolution shall take effect immediately upon its adoption by <br />the City Council, and the Clerk of the Council shall attest to and certify the vote adopting <br />this Resolution. <br /> <br />ADOPTED this <br /> <br />day of <br /> <br />,2004. <br /> <br />Miguel A. Pulido <br />Mayor <br /> <br />APPROVED AS TO FORM: <br />Joseph W. Fletcher, City Attorney <br /> <br />By: <br />Benjarnin Kaufman <br />Chief Assistant City Attorney <br /> <br />Resolution No. 2004-034 <br />Page 2 of 3 <br />