To: Board of Supervisors
From: Treasurer/Tax Collector
Agenda Section: Consent
SUBJECT:
title
Appointment of Board of Directors - Humboldt County Public Property Leasing Corporation
end
RECOMMENDATION(S):
Recommendation
That the Board of Supervisors:
1. Appoint the following individuals as Directors of the Humboldt County Public Property Leasing Corporation (HCPPLC) effective this date for the remainder of the 2018 calendar year, and for 2019: Bruce Rupp, Greg Bowen and Daniel Sweet.
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SOURCE OF FUNDING:
Not Applicable
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 offices, and for the purchase of heavy equipment for the Department of Public Works, the HCPPLC then facilitated refinancing of those initial COP's, financed COP's issued in 1994, 1996, 2003 and 2004; and then refinanced the 2003 and 2004 COP's 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. The most recent financing in June of 2016 established an interim period financing mechanism through the county pool which help facilitate more cost effective financing to help develop county campuses where like functions are grouped together for better public service. This corporation is necessary to support previously established financing commitments as well as to help facilitate future financing. The Treasurer-Tax Collector serves as staff liaison.
Bruce Rupp, Greg Bowen, and Daniel Sweet have agreed to continue on the Board for the rest of the 2018 year, and for 2019.
Mr. Rupp, Mr. Brown and Mr. Sweet were each asked to be members of the Board of Directors because ...
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