Title:
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Adoption of a Resolution Approving the Form and Authorize the Execution of an Official Statement and Continuing Disclosure Certificate Relating to the Issuance of Pension Obligation Bonds; Approving Additional Actions Related Thereto
It is recommended that the City Council take the following actions:
1) Adopt the following resolution:
RESOLUTION NO. 2020-105 - A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF POMONA, CALIFORNIA APPROVING THE FORM OF A PRELIMINARY OFFICIAL STATEMENT AND A CONTINUING DISCLOSURE CERTIFICATE IN CONNECTION WITH THE ISSUANCE OF BONDS TO REFUND CERTAIN PENSION OBLIGATIONS OF THE CITY AND APPROVING ADDITIONAL ACTIONS RELATED THERETO
2) Provide staff directions as to which funding option is preferred
3) Direct staff to allocate savings from the issuance of Pension Obligation Bonds to the City's 'Committed Fund Balance' Reserve.
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