This ordinance authorizes the execution and delivery of Certificates of Participation for up to $65,000,000 to finance public infrastructure improvements as part of the Treasure Island Stage 2 project. The Certificates of Participation will be issued in one or more series on a taxable and/or tax-exempt basis. Key documents approved include a Trust Agreement, Property Lease, Lease Agreement, Official Notice of Sale, and Purchase Contract. Additionally, amendments to the Special Fund Administration Agreement for the Treasure Island project have been approved.
This decision facilitates significant public infrastructure development on Treasure Island, laying the groundwork for future community and economic development projects in the area.