Vote: approved

Item Text

63. RESOLUTION FOR LEASE AND LEASE-PURCHASE, EXECUTION AND DELIVERY OF AMENDMENTS AND SUPPLEMENTS TO LEASE-PURCHASE AND TRUST AGREEMENTS, AND FOR THE ISSUANCE OF TAXABLE CERTIFICATES OF PARTICIPATION Adopt a Resolution authorizing the Lease and Lease-Purchase of certain real property and the delivery and execution of amendments and supplements to lease-purchase and trust agreements for the issuance of taxable securities, consisting of certificates of participation (COPs), in an amount sufficient to finance not to exceed $80,000,000, plus cost of issuance, in order to finance a portion of the County’s unfunded liabilities with respect to the Arizona Public Safety Personnel Retirement System (PSPRS) and Correctional Officers Retirement Plan (CORP) or, to the extent not so used, to finance other projects or to pay other expenses of the County approved by the Board and to pay costs of delivery. Approve a fund transfer in the amount of $72,009,100 from the Non-Departmental (D470) General Fund County Improvements Fund (445) to Non-Departmental (D470) County Improvement Debt Fund (320). In accordance with A.R.S. §42-17106(B), approve the following FY 2022 budget adjustments: 1. Increase the Non Departmental (D470) General Fund County Improvements Fund (445) Non Recurring Non Project (NRNP) expenditure budget by $72,009,100 2. Increase the Non Departmental (D470) County Improvement Debt Fund (320) Non Recurring Non Project (NRNP) revenue budget by $72,009,100 3. Offset revenue and expenditure adjustments for the fund transfer in the Eliminations (D980) Eliminations Fund (900) Non Recurring Non Project ( NRNP) in the amount of $72,009,100. 4. At year-end, adjust the Non Departmental expenditure budget as required for debt service offsetting any changes in the remaining Non-Departmental (D470) expenditure budgets. These actions will have an overall net impact of zero. (C-18-22-110-X-00)

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