The administration of OCII’s debt portfolio is governed by two policies, the Debt Policy and the Investment Policy, and a Memorandum of Understanding between the OCII and the City and County of San Francisco, Office of the Treasurer Tax Collector.
The Debt Policy, approved by the OCII Commission in 2021, summarizes OCII’s existing debt policies and formally establishes them for all future debt. The Debt Policy may be amended by the OCII Commission as it deems appropriate from time to time in the prudent management of the debt of OCII. From time to time, the OCII commission may approve debt that is not consistent with the policy.
The Disclosure Policy, approved by the Commission in 2021, formally establishes a process for disclosing information related to OCII's bond portfolio. The Disclosure Policy may be amended by the OCII Commission as it deems appropriate from to time in the prudent management of the debt of OCII.
The Investment policy, approved by the OCII Commission in 2014, governs management of OCII's surplus cash.
Community Facilities Districts (“CFD”s) are special taxing districts formed under the California Mello-Roos Act. OCII has formed seven Mello-Roos Community Facilities Districts (CFDs) as separate legal entities in the South Beach / Rincon Point, Mission Bay North and South, and Hunters Point Shipyard Phase One and Two project areas. Under the Mello-Roos Act, a local agency must adopt goals and policies as provided in the Act. The following is OCII’s Amended and Restated Local Goals and Policies for Community Facilities Districts.
The 2020 Memorandum of Understanding between OCII and the City and County of San Francisco, Office of the Treasurer Collector (“TTX”) was executed in 2020. As per the terms of this MOU, TTX invests OCII’s bond proceeds that are held by trustees. All investments are made in accordance with OCII’s Investment Policy and the terms of the bond documents.
The Local Area Investment Fund ("LAIF") is an investment fund established by Government Code 16429.1 and managed by the California State Treasurer to provide California local governments and special districts with access to a large and diverse portfolio of investments the entities could not access on their own. Entities who wish to utilize the LAIF must pass a resolution authorizing investment of monies in the local area investment fund. The San Francisco Redevelopment Agency ("SFRA") Commission passed such a resolution on May 15, 2007 (Resolution 46-2007). The Successor to the San Francisco Redevelopment Agency passed such a resolution on December 7, 2021 (Resolution 42-2021).
This page DOES NOT provide information in connection with bonds, notes, and other securities issued by OCII and SHOULD NOT be relied upon in that respect.