HomeMy WebLinkAboutMINUTES - 10162012 - C.103RECOMMENDATION(S):
ADOPT Resolution No. 2012/443 approving the issuance of tax-exempt obligations by the California Statewide
Communities Development Authority (CSCDA) in an amount not to exceed $55,000,000 to provide for the financing
or refinancing of one or more air rescue helicopters and equipment on behalf of California Shock Trauma Rescue
(CALSTAR), as recommended by the Department of Conservation & Development.
FISCAL IMPACT:
There is no financial impact to the County as a result of the proposed financing. The California Statewide
Communities Development Authority will issue tax-exempt obligations on behalf of California Shock Trauma Air
Rescue (CALSTAR). Repayment of the obligations is solely the responsibility of CALSTAR. No financial
obligations are placed on the County for financing costs or debt repayment.
BACKGROUND:
The County received a request from the California Statewide Communities Development Authority (the "Authority")
to conduct a public hearing as required by Section 147(f) of the Internal Revenue Code in order to issue tax-exempt
obligations (the "Obligations")
APPROVE OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
Action of Board On: 10/16/2012 APPROVED AS RECOMMENDED OTHER
Clerks Notes:
VOTE OF SUPERVISORS
AYE:John Gioia, District I
Supervisor
Candace Andersen, District II
Supervisor
Mary N. Piepho, District III
Supervisor
Karen Mitchoff, District IV
Supervisor
ABSENT:Federal D. Glover, District V
Supervisor
Contact: Kristen Lackey, 4-7888
I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the
Board of Supervisors on the date shown.
ATTESTED: October 16, 2012
David Twa, County Administrator and Clerk of the Board of Supervisors
By: Carrie Del Bonta, Deputy
cc:
C.103
To:Board of Supervisors
From:Catherine Kutsuris, Conservation & Development
Date:October 16, 2012
Contra
Costa
County
Subject:Issuance of Tax-Exempt Obligations by the California Statewide Communities Development Authority for California
Shock Trauma Air Rescue (CALSTAR)
BACKGROUND: (CONT'D)
in an aggregate amount not to exceed $55,000,000 on behalf of CALSTAR (the "Borrower"). The Obligations
would be tax-exempt private activity bonds for the purposes of the Internal Revenue Code and, as such, require
the approval of the elected body of the governmental entity having jurisdiction over the area where the project to
be financed is located.
The Borrower will use the proceeds of the Obligations to finance or refinance air rescue helicopters, other air
rescue equipment and related property. One of the financed helicopters will be housed at the CALSTAR facility
located at 177 John Glenn Drive in the City of Concord. County staff held a public hearing at 10:00 a.m. on
October 1, 2012, and no comments were made.
CALSTAR is also financing or refinancing aircrafts and equipment located in Mcclellan, Gilroy, Auburn, Ukiah,
Salinas, South Lake Tahoe, Santa Maria, and Vacaville. The governmental entities with jurisdiction over those
areas will be conducting their own public hearings.
CALSTAR is a 501(c)(3) nonprofit organization founded in June 1983. They provide a medical transportation
system available on a 24-hour basis that brings rapid, on-site medical care to critically ill or injured patients.
CALSTAR's flight crews respond from fixed bases located in Concord, Mcclellan, Gilroy, Auburn, Ukiah,
Salinas, South Lake Tahoe, Santa Maria, and Vacaville. Since commencing operations, over 48,000 critically
injured or ill patients have been transported on an emergency basis to hospitals throughout Northern California.
Approximately 70% of flights are in support of Northern California's 911 emergency services network.
The County previously adopted resolutions approving CALSTAR financings through CSCDA for purposes of
Section 147(f) of the Internal Revenue Code on July 27, 1999 and October 25, 2005.
CONSEQUENCE OF NEGATIVE ACTION:
Negative Action would prevent CSCDA from providing tax-exempt financing for CALSTAR helicopters and
equipment located at 177 John Glenn Drive in the City of Concord.
CHILDREN'S IMPACT STATEMENT:
No impact.
ATTACHMENTS
Resolution No. 2012/443