Long Beach, CA
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File #: 15-0258    Version: 1 Name: FM/Harbor - Harbor Revenue Bonds and Harbor Refunding Bonds
Type: Resolution Status: Adopted
File created: 3/5/2015 In control: City Council
On agenda: 3/24/2015 Final action: 3/24/2015
Title: Recommendation to receive supporting documentation into the record regarding the Tax Equity and Fiscal Responsibility Act (TEFRA) public hearing; and adopt resolution approving the issuance by the Board of Harbor Commissioners, on behalf of the City of Long Beach, of Series 2015 Senior Bonds, in an aggregate principal amount not to exceed $230,000,000, consisting of Harbor Revenue Refunding Bonds, in an aggregate amount not to exceed $80,000,000, and Harbor Revenue Bonds, in an aggregate amount not to exceed $150,000,000, secured by Harbor Department revenues. (District 2)
Sponsors: Financial Management, Harbor
Attachments: 1. 032415-R-12sr&att.pdf, 2. 032415 R-12 2015AB Long Beach Harbor BPA.pdf, 3. 032415 R-12 2015CD Long Beach Harbor BPA.pdf, 4. 032415 R-12 POLB 2015 Certificate Required by TIFIA Loan Agreement R...-c.pdf, 5. 032415 R-12 POLB 2015AB Continuing Disclosure Certificate-c.pdf, 6. 032415 R-12 POLB 2015AB Fiscal Agent Agreement-c.pdf, 7. 032415 R-12 POLB 2015AB Trustee Services Agreement-c.pdf, 8. 032415 R-12 POLB 2015CD Continuing Disclosure Certificate-c.pdf, 9. 032415 R-12 POLB 2015CD Fiscal Agent Agreement-c.pdf, 10. 032415 R-12 POLB 2015CD Trustee Services Agreement-c.pdf, 11. 032415 R-12 POLB Redemption Notices Regarding Redemption of Refunded...-c.pdf, 12. 032415 R-12 POLB Series 2015 Escrow Agreement-c.pdf, 13. 032415 R-12 Preliminary Official Statement for Port of Long Beach -...-c.pdf, 14. RES-15-0034.pdf
TITLE
Recommendation to receive supporting documentation into the record regarding the Tax Equity and Fiscal Responsibility Act (TEFRA) public hearing; and adopt resolution approving the issuance by the Board of Harbor Commissioners, on behalf of the City of Long Beach, of Series 2015 Senior Bonds, in an aggregate principal amount not to exceed $230,000,000, consisting of Harbor Revenue Refunding Bonds, in an aggregate amount not to exceed $80,000,000, and Harbor Revenue Bonds, in an aggregate amount not to exceed $150,000,000, secured by Harbor Department revenues. (District 2)

DISCUSSION
The Board of Harbor Commissioners (Board), acting on behalf of the City of Long Beach (City), proposed on March 23, 2015, to issue Harbor Revenue Refunding Bonds (2015 Refunding Bonds), in an aggregate principal amount not to exceed $80,000,000. Proceeds from the 2015 Refunding Bonds will be used to refund all, or a portion of, the Harbor Revenue Refunding Bonds, Series 2005A and Series 2005B, and to fund the cost of issuing the 2015 Refunding Bonds. The 2015 Refunding Bonds will be secured and payable from certain revenues of the Harbor Department (Harbor).

The Board, acting on behalf of the City, also proposed on March 23, 2015, to issue Harbor Revenue Bonds (2015 Revenue Bonds), in an aggregate principal amount not to exceed $150,000,000. The 2015 Revenue Bonds will be secured and payable from Harbor Department revenues. Proceeds from the issuance of the 2015 Revenue Bonds will be used to pay or reimburse the Harbor Department for the costs of capital projects and improvements that will include, but not be limited to, terminal development projects at Piers D/E/F (Middle Harbor); various environmental projects; dredging projects; Port security and safety projects; Port mitigation projects; rail projects; Harbor Department buildings; information management projects, and related facilities and improvements (collectively, the Projects), and to pay all, or a portion of, th...

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