To: Board of Supervisors
From: Treasurer/Tax Collector
Agenda Section: Consent
Vote Requirement: Majority
SUBJECT:
title
Appointment of Board of Directors - Humboldt County Public Property Leasing Corporation
end
RECOMMENDATION(S):
Recommendation
That the Board of Supervisors:
1. Reappoint the following individuals as Directors of the Humboldt County Public Property Leasing Corporation (HCPPLC) effective this date for the 2024 calendar year:
* Bruce Rupp, President
* Daniel Sweet, Treasurer
* Greg Bowen, Secretary
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SOURCE OF FUNDING:
N/A
DISCUSSION:
The HCPPLC is a non-profit public benefit corporation established in 1985 which holds title to county financed property and thereby keeps that property exempt from property taxes.
Initially established for the issuance of Certificates of Participation (COP) for construction of the Sheriff and District Attorney's offices, and for the purchase of heavy equipment for the Department of Public Works, the HCPPLC then facilitated refinancing of those initial COPs, financed COPs issued in 1994,1996, 2003 and 2004. The HCPPLC refinanced the 2003 and 2004 COPs in July of 2012 along with financing new capital improvement projects including seismic retrofits for various county buildings, new airport hangers and a new Juvenile Hall facility. In June of 2016, the county and HCPPLC established an interim period financing mechanism through the county treasury pool which helped facilitate more cost-effective financing to help develop county campuses where like functions are grouped together for better public service. The 2016 Finance Plan was terminated in early 2020 and a new 2020 Interim Period Lease Finance Plan was approved by your Board on June 2, 2020.
The HCPPLC is necessary to support previously established financing commitments and to help facilitate future financing. The Treasurer-Tax Collector serves as staff liaison to the HCPPLC.
Bruce Rupp, Greg Bowen and Daniel Sweet have agreed to con...
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