HomeMy WebLinkAboutMINUTES - 10072014 - D.5RECOMMENDATION(S):
1.
a) OPEN public hearing as required by Section 147(f) of the Internal Revenue Code of 1986, as amended;
b) CONSIDER public testimony concerning the proposed issuance by the California Statewide Communities
Development Authority (“CSCDA”) of tax-exempt obligations in an amount not to exceed $50,000,000; and
c) CLOSE public hearing.
2. ADOPT Resolution No. 2014/363 approving the issuance of tax-exempt obligations by the CSCDA to benefit
California Shock Trauma Air Rescue (dba CALSTAR) or an affiliate (Concord area).
FISCAL IMPACT:
Pursuant to the Internal Revenue Code, the issuance of the Bonds must be approved by the County because one of the
facilities is located within the territorial limits of the County. There is no financial impact to the County. The CSCDA
will issue tax-exempt revenue obligations on behalf of CALSTAR. Repayment of the obligations is solely the
responsibility of CALSTAR. No financing obligations are placed on the County for financing costs or debt
repayment.
APPROVE OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
Action of Board On: 10/07/2014 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
Federal D. Glover, District V
Supervisor
Contact: Kristen Lackey,
925-674-7888
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 7, 2014
David Twa, County Administrator and Clerk of the Board of Supervisors
By: June McHuen , Deputy
cc:
D.5
To:Board of Supervisors
From:John Kopchik, Interim Director, Conservation & Development Department
Date:October 7, 2014
Contra
Costa
County
Subject:Tax Equity and Fiscal Responsibility Act (TEFRA) Hearing-Issuance of Tax-Exempt Obligations by California
Statewide Communities Development Authority
BACKGROUND:
The County received a request from the California Statewide Communities Development Authority (the
“CSCDA”) to conduct a public hearing as required by Section 147(f) of the Internal Revenue Code in order to
issue tax-exempt notes, bonds or any other evidence of indebtedness (the “Obligations”) in an aggregate amount
not to exceed $50,000,000 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.
CALSTAR 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. CALSTAR is also financing or refinancing aircrafts and
equipment located in McClellan, Gilroy, Auburn, Ukiah, Salinas, South Lake Tahoe, Santa Maria, and Oakland.
Other governmental entities with territorial jurisdiction over the remaining facilities will be conducting their own
public hearings.
CALSTAR is a 501(c)(3) nonprofit corporation 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 Oakland. The Concord facility annually provides over 450
emergency transports of critically injured or ill patients to hospitals. Approximately 70% of flights are in support
of Northern California’s 911 emergency services network.
The County has been a member of CSCDA since it was created in 1988 under the California Joint Exercise of
Powers Act for the purpose of providing California local governments access to financing of community based
public benefit projects. CSCDA is sponsored by the California State Association of Counties and the League of
California Cities .
Notice for today’s hearing was published in the Contra Costa Times, a newspaper of general circulation, on
September 22, 2014. Proof of Publication is attached for reference. 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, October 25, 2005, and October 16, 2012.
CONSEQUENCE OF NEGATIVE ACTION:
Negative action would prevent CSCDA from providing tax-exempt financing for CALSTAR helicopters and
equipment located in numerous areas throughout Northern California, including the City of Concord.
CHILDREN'S IMPACT STATEMENT:
Not applicable.
ATTACHMENTS
Resolution No. 2014/363
CALSTAR 2014 Proof of Publication