Mountain View, CA
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Treasury is responsible for daily cash flow and portfolio management, investment of City funds, maintains City bank accounts, provides support for bond issuances, and provides staff support of the Investment Review Committee (IRC). This section records daily transactions to the City’s bank accounts, prepares the monthly Investment Information Report for Council and IRC, prepares the Annual Report of the IRC to the City Council, and adheres to and provides recommendations on changes to Council Policy B-2, Investment Policy (Policy).
Staff holds monthly internal investment status and strategy meetings, quarterly portfolio status review meetings with the City Manager and external investment advisor, and an annual meeting of the IRC to review and discuss portfolio status and management, the Policy and Policy compliance. Staff provides review and analysis on bond documents and is responsible for the annual continuing disclosure reporting for bond issuances.
Investments
Bonds
Standard & Poors Rating Report - May 2025
Current Outstanding Debt
2004 Water Revenue Bonds
On September 29, 2004, the City issued $9.7 million of 2004 Water Revenue Bonds, 2004 Series A, to fund the Construction of Graham Reservoir. Water fund revenues are pledged to pay the debt service on the bonds. Principal payments are payable annually on June 1st and interest payments semi-annually on June 1st and December 1st from Water Fund Revenues.
Wastewater Direct Financing Agreement
On November 1, 2018, the City executed an Installment Sale Agreement between the City and the Financing Authority and an Assignment Agreement between the Financing Authority and Pacific Premier Bank (previously known as Opus Bank) to provide funds for Wastewater infrastructure capital projects. The financing arrangement is for up to $10.1 million with a maximum term of 15 years. Wastewater fund revenues are pledged to pay the debt service on the direct financing arrangement. Principal payments are payable annually on December 1st and interest payments semi‐annually on June 1st and December 1st from Wastewater Fund Revenues.
2018 Revenue Bonds Shoreline Regional Park Community
On December 19, 2018, the Shoreline Community issued 2018 Revenue Bonds, Series A (Tax‐Exempt) and Series B (Taxable) (2018 Bonds) of $53.5 million and $10.3 million, respectively. Proceeds from the 2018 Bonds were used to provide funds to acquire and construct certain capital improvements of benefit to the Shoreline Community. The 2018 Bonds are special obligations of the Shoreline Community and are secured by a portion of all taxes levied upon all taxable property within the Shoreline Community. Principal payments are payable annually on August 1st and interest payments semiannually on August 1st and February 1st from property tax revenues generated within the Shoreline Community.
2022 Refunding Revenue Bonds Shoreline Regional Park Community
On November 22, 2022, the Shoreline Community issued the 2022 Bonds of $21.6 million through private placement. Proceeds from the 2022 Bonds were used to fully refund the outstanding 2011 Bonds of $21.1 million. The 2022 Bonds are special obligations of the Shoreline Community and are secured by a portion of all taxes levied upon all taxable property within the Shoreline Community. Principal payments are payable annually on August 1st and interest payments semi‐annually on August 1st and February 1st from property tax revenues generated within the Shoreline Community.