200 S. Anaheim Blvd.
Suite #643
Anaheim, CA 92805
Tel: (714) 765-5195
Fax: (714) 765-5260
www.anaheim.net
PUBLIC FINANCING AUTHORITY AGENDA REPORT
City of Anaheim
DEPARTMENT OF FINANCE
DATE: APRIL 21, 2026
FROM: FINANCE DEPARTMENT
SUBJECT: APPROVE AMENDMENT NO. 2 TO BOND PURCHASE
AGREEMENT BY AND AMONG THE CITY OF ANAHEIM
(CITY), ANAHEIM PUBLIC FINANCING AUTHORITY (APFA)
AND JP MORGAN CHASE BANK, NATIONAL ASSOCIATION
(JP MORGAN)
ATTACHMENT (Y/N): YES ITEM # 01
GOVERNMENT CODE §84308 APPLIES: YES
RECOMMENDATION:
That the Board of Directors, by Motion, approve Amendment No. 2 to Bond Purchase Agreement by and among the City, APFA, and JP Morgan to amend the Scheduled Completion Date to no later than June 25, 2027, and authorize the City Treasurer to execute the amendment.
DISCUSSION:
In July of 2024, the APFA issued $325,255,000 of Taxable Lease Revenue Bonds (the Bonds) to finance the parking decks and certain other public improvements associated with the OCVIBE Project. The Bonds are repaid from operating revenues of the Honda Center pursuant to an Amended and Restated Facilities Management Agreement between the City and Anaheim Arena Management (AAM) and are not an obligation of the City’s General Fund. The Bonds were purchased by JP Morgan pursuant to a Bond Purchase Agreement. The Bonds act like a draw down construction loan to AAM. The Bond Purchase Agreement originally contemplated that the parking decks B and C would be completed by December 31, 2025, and that Parking D would be completed by August 31, 2026. AAM and JP Morgan have to amend the definition of “Scheduled Completion Date” in the Bond Purchase Agreement to provide that the parking decks would be completed by no later than June 25, 2027. The proposed Amendment No. 2 to the Bond Purchase Agreement would amend the existing Bond Purchase Agreement pursuant to the request of AAM and JP Morgan.
IMPACT ON BUDGET:
This amendment has no budgetary impact. Further, the Bonds are payable solely from the operating revenues of the Honda Center.
Approve Amendment No. 2 to Bond Purchase Agreement by and among The City of Anaheim (City), Anaheim Public Financing Authority (APFA) and JP Morgan Chase Bank, National Association (JP Morgan) April 21, 2026
Respectfully submitted,
Deborah A. Moreno
Executive Director
Attachment:
1. Amendment No. 2 to Bond Purchase Agreement
2. Original Agreement with First Amendment