County of Santa Barbara - File #: 09-00694

• File #: 09-00694
• Version: 4
• Type: Agenda Item
• Status: Passed
• File created: 7/2/2009
• In control: BOARD OF SUPERVISORS
• On agenda: 10/13/2009
• Final action: 10/13/2009
• Title: HEARING - Conduct a joint hearing as the Board of Supervisors of the County of Santa Barbara; Board of Supervisors of Santa Barbara North County Lighting District; Board of Supervisors of Mission Canyon Lighting District; Board of Supervisors of County Service Area No. 3; Board of Supervisors of County Service Area No. 4; Board of Supervisors of County Service Area No. 5; Board of Supervisors of County Service Area No. 11; Board of Supervisors of County Service Area No. 31; Board of Directors of Santa Barbara County Flood Control and Water Conservation District; Board of Directors of Santa Barbara County Water Agency; and Board of Directors of Santa Barbara County Fire Protection District and adopt the following recommendations: (EST. TIME: 1 HR.) A) It is recommended that the Board of Supervisors of the County of Santa Barbara: i) Consider strategies to mitigate the impact of the Proposition 1A Suspension and select the State Finance Securitization option; ii) Adopt the Resolution...
• Sponsors: COUNTY EXECUTIVE OFFICE

Date	Action By	Action	Result
10/13/2009	BOARD OF SUPERVISORS	Acted on as follows:	Pass
9/15/2009	BOARD OF SUPERVISORS	Continued, as follows:	Pass
8/18/2009	BOARD OF SUPERVISORS
7/14/2009	BOARD OF SUPERVISORS	Acted on as follows:	Pass

Title
HEARING - Conduct a joint hearing as the Board of Supervisors of the County of Santa Barbara; Board of Supervisors of Santa Barbara North County Lighting District; Board of Supervisors of Mission Canyon Lighting District; Board of Supervisors of County Service Area No. 3; Board of Supervisors of County Service Area No. 4; Board of Supervisors of County Service Area No. 5; Board of Supervisors of County Service Area No. 11; Board of Supervisors of County Service Area No. 31; Board of Directors of Santa Barbara County Flood Control and Water Conservation District; Board of Directors of Santa Barbara County Water Agency; and Board of Directors of Santa Barbara County Fire Protection District and adopt the following recommendations: (EST. TIME: 1 HR.)

A) It is recommended that the Board of Supervisors of the County of Santa Barbara:

i) Consider strategies to mitigate the impact of the Proposition 1A Suspension and select the State Finance Securitization option;

ii) Adopt the Resolution (A Resolution Approving The Form Of And Authorizing The Execution And Delivery Of A Purchase And Sale Agreement And Related Documents With Respect To The Sale Of The Seller’s Proposition 1A Receivable From The State; And Directing And Authorizing Certain Other Actions In Connection Therewith);

iii) Direct Authorized Officers and staff to execute and deliver the above-described Resolution and Purchase and Sale Agreement along with related legal documents to bond counsel by November 6, 2009; and

iv) Enact other solutions in addition to securitizing, including establishing greater efficiencies, enhancing revenues, and/or reducing service levels;

B) It is recommended that the Board of Supervisors of Santa Barbara North County Lighting District:

i) Adopt the Resolution (A Resolution Approving The Form Of And Authorizing The Execution And Delivery Of A Purchase And Sale Agreement And Related Documents With Respect To The Sale Of The Seller’s Proposition 1A Receivable From The St...