§ 5.48

For purposes of this Article XLVIII, the following words or phrases shall have the following meanings:

“City” shall mean the City and County of San Francisco.

“EIFD Public Financing Authority No. 1” shall mean the public financing authority established to act as the governing board for the Power Station EIFD and such other EIFDs identified by the Board of Supervisors from time to time.

“Power Station EIFD” shall mean San Francisco Enhanced Infrastructure Financing District No. 1 (Power Station).

(Added by Ord. 44-23, File No. 230160, App. 4/7/2023, Eff. 5/8/2023; amended by Ord. 210-24, File No. 240638, App. 8/1/2024, Eff. 9/1/2024)

(Former Sec. 5.48-1 added by Ord. 24-21, File No. 210032, App. 3/5/2021, Eff. 4/5/2021; expired 4/5/2022)

The Board of Supervisors hereby establishes the Enhanced Infrastructure Financing District Public Financing Authority No. 1 (“EIFD Public Financing Authority No. 1”) in accordance with California Government Code Sec. 53398.51.1.

(Added by Ord. 44-23, File No. 230160, App. 4/7/2023, Eff. 5/8/2023)

(Former Sec. 5.48-2 added by Ord. 24-21, File No. 210032, App. 3/5/2021, Eff. 4/5/2021; expired 4/5/2022)

The EIFD Public Financing Authority No. 1 shall serve as the governing body for enhanced infrastructure financing districts (including, initially, the Power Station EIFD), formed in the City pursuant to California Government Code Section 53398.51, on such terms and conditions as the Board of Supervisors shall determine in the Board of Supervisors’ resolutions of intention for such enhanced infrastructure financing districts. In that capacity, EIFD Public Financing Authority No. 1 shall be responsible for the duties as are imposed by California Government Code Sections 53398.50 et seq., including, but not limited to, (a) causing the preparation of, adopting, and implementing the infrastructure financing plan for each enhanced infrastructure financing district, which will describe, among other things, the allocation by the City to the enhanced infrastructure financing district of certain incremental property tax revenue for the purpose of funding public capital facilities and other specified projects of communitywide significance that provide significant benefits to the enhanced infrastructure financing district or the surrounding community, (b) the issuance by the enhanced infrastructure financing district of bonds and other forms of indebtedness in furtherance of the purposes of the enhanced infrastructure financing district, (c) causing the timely preparation and delivery of the annual report required by California Government Code Section 53398.66(j), and (d) causing the timely preparation and delivery of the independent audit required by California Government Code Section 53398.88.

(Added by Ord. 44-23, File No. 230160, App. 4/7/2023, Eff. 5/8/2023; amended by Ord. 210-24, File No. 240638, App. 8/1/2024, Eff. 9/1/2024)

(Former Sec. 5.48-3 added by Ord. 24-21, File No. 210032, App. 3/5/2021, Eff. 4/5/2021; expired 4/5/2022)

The EIFD Public Financing Authority No. 1 shall consist of five members, appointed as follows:

(a) Seats 1-3 shall be held by members of the Board of Supervisors, appointed by the President of the Board of Supervisors.

(b) The President of the Board of Supervisors shall nominate for appointment by the Board of Supervisors a fourth member from the Board of Supervisors to serve as an alternate member of the EIFD Public Financing Authority No. 1. The alternate member may serve and vote in place of any one of the three members from the Board of Supervisors who is absent from a meeting of the EIFD Public Financing Authority No. 1, or with respect

to any meeting agenda item for which one of the three members from the Board of Supervisors is recused, or may serve and vote if there is a vacancy in Seat 1, 2, or 3.

(c) Seats 4 and 5 shall be held by members of the public, nomiminated [1 ] by the President of the Board of Supervisors and appointed by the Board of Supervisors. Appointment of members of the public to seats 4 and 5 shall comply with California Government Code Sections 54970 and 54972. Such appointees are not precluded from being appointed as members of the legislative body of other enhanced financing districts established by City ordinance.

(Added by Ord. 44-23, File No. 230160, App. 4/7/2023, Eff. 5/8/2023)

(Former Sec. 5.48-4 added by Ord. 24-21, File No. 210032, App. 3/5/2021, Eff. 4/5/2021; expired 4/5/2022)

CODIFICATION NOTE

1. So in Ord. 44-23.

(a) The EIFD Public Financing Authority No. 1 shall come into existence on the date that appointments have been made to three of the five seats on the body.

(b) The Board of Supervisors shall make initial appointments to all five seats on the EIFD Public Financing Authority No. 1 by no later than 60 days following the effective date of this Article XLVIII.

(c) The terms of all five seats shall commence on the date the EIFD Public Financing Authority No. 1 comes into existence, as stated in subsection (a).

(d) Members of the EIFD Public Financing Authority No. 1 shall serve four-year terms, with the exception that the initial appointments to seats 3 and 4 shall be for two-year terms. Subsequent appointments to seats 3 and 4 shall be for four-year terms. Regardless of when a specific member is actually appointed to a seat, the beginning date of the initial terms is as stated in subsection (c).

(e) Members of the EIFD Public Financing Authority No. 1 shall serve at the pleasure of the Board of Supervisors and may be removed from serving on the body by the Board of Supervisors at any time.

(f) When a vacancy occurs on the EIFD Public Financing Authority No. 1, the Board of Supervisors shall fill the vacancy in accordance with Section 5.48-4. The replacement appointee shall complete the term of the seat that was vacated, but is not precluded from being appointed to the EIFD Public Financing Authority No. 1 for an additional term or terms.

(g) If a member of the EIFD Public Financing Authority No. 1 from the Board of Supervisors in seats 1-3 or serving as an alternate member leaves the Board of Supervisors, then that Supervisor’s membership on the EIFD Public Financing Authority No. 1, or status as an alternate member, as the case may be, expires by operation of law, creating a vacancy in the seat or the alternate membership.

(h) Members of the EIFD Public Financing Authority No. 1 shall receive no compensation, but they may receive reimbursement for actual and necessary expenses incurred in the performance of official duties pursuant to Article 2.3 (commencing with Section 53232) of Chapter 2 of Part 1 of

Division 2 of Title 5 of the California Government Code.

(i) Members of the EIFD Public Financing Authority No. 1 are subject to Article 2.4 (commencing with Section 53234) of Chapter 2 of Part 1 of Division 2 of Title 5 of the California Government Code.

(j) The EIFD Public Financing Authority No. 1 shall establish such rules and procedures as are necessary or appropriate to ensure compliance with California Government Code Sections 53398.50 et seq., to further the purposes of the enhanced infrastructure financing districts for which it acts as the governing board, and to satisfy the requirements of Section 5.48.7 below.

(k) The Office of the Controller shall provide administrative and clerical support to the EIFD Public Financing Authority No. 1, unless and until that function is re-assigned to another Department as part of the annual budget process.

(Added by Ord. 44-23, File No. 230160, App. 4/7/2023, Eff. 5/8/2023; amended by Ord. 210-24, File No. 240638, App. 8/1/2024, Eff. 9/1/2024)

(Former Sec. 5.48-5 added by Ord. 24-21, File No. 210032, App. 3/5/2021, Eff. 4/5/2021; expired 4/5/2022)

(a) The EIFD Public Financing Authority No. 1 shall have the powers and duties set forth in California Government Code Sections 53398.50 et seq., as may be amended from time to time.

(b) The EIFD Public Financing Authority No. 1 shall have no authority to exercise the sovereign powers of the City. The Power Station EIFD, once formed, shall be a governmental entity separate and distinct from the City and its sole purpose shall be to finance public capital facilities and projects of community-wide significance and other costs in accordance with California Government Code Sections 53398.50 et seq.

(Added by Ord. 44-23, File No. 230160, App. 4/7/2023, Eff. 5/8/2023)

(Former Sec. 5.48-6 added by Ord. 24-21, File No. 210032, App. 3/5/2021, Eff. 4/5/2021; expired 4/5/2022)

(a) The EIFD Public Financing Authority No. 1 shall hold its inaugural meeting no later than 90 days after the effective date of the ordinance establishing this Article XLVIII. There shall be at least ten days’ notice of the inaugural meeting.

(b) Following the inaugural meeting, and not counting the inaugural meeting, the EIFD Public Financing Authority No. 1 shall hold a regular meeting not less than one time per year.

(c) The EIFD Public Financing Authority No. 1 shall elect a Chair, and in its discretion may establish such other offices, if any, as it deems appropriate, to be filled by election.

(d) The EIFD Public Financing Authority No. 1 may establish rules for its organization and procedures, as the Potrero EIFD Public Financing Authority No. 1 deems necessary or appropriate.

(e) Three members of the EIFD Public Financing Authority No. 1 shall constitute a quorum.

(f) In accordance with California Government Code Section 53398.51.1(e), the EIFD Public Financing Authority No. 1 shall be deemed a local public agency subject to the Ralph M. Brown Act (Title 5, Division 2, Part 1, Chapter 9 (commencing with Section 54950) of the California Government Code); the California Public Records Act (Title 1, Division 10 (commencing with Section 7920.000) of the California Government Code); and the Political Reform Act of 1974 (Title 9 (commencing with Section 81000) of the California Government Code).

(Added by Ord. 44-23, File No. 230160, App. 4/7/2023, Eff. 5/8/2023; amended by Ord. 210-24, File No. 240638, App. 8/1/2024, Eff. 9/1/2024)

(Former Sec. 5.48-7 added by Ord. 24-21, File No. 210032, App. 3/5/2021, Eff. 4/5/2021; expired 4/5/2022)

Unless the Board of Supervisors by ordinance extends the term of the EIFD Public Financing Authority No. 1, it shall terminate on (a) the date on which enhanced infrastructure financing districts for which it acts as governing board no longer receive property tax revenues under the applicable infrastructure financing plans, or (b) the date on which no bonds or other forms of indebtedness of the EIFD Public Financing Authority No. 1 are outstanding, whichever date is later. After that date, the City Attorney is authorized to cause this Article XLVIII to be removed from the Administrative Code.

(Added by Ord. 44-23, File No. 230160, App. 4/7/2023, Eff. 5/8/2023; amended by Ord. 210-24, File No. 240638, App. 8/1/2024, Eff. 9/1/2024)