HomeMy WebLinkAbout92-131 - Resolutions RESOLUTION NO. 92-131
A RESOIZ/I~ON OF T~E CITY COUNCIL OF ~ CITY OF RANCHO
~, CAr.~, ~ZING ISSUANCE OF BONDS,
FINAL PRICING OF q~E BraDS, AND ~ ~]{E ~ OF THE
TO 'IX'{E ,.q~l~.T.l~. AND D'F~r.~ OF ~ BONDS ~.T~'. IN ~
FACTT.TTIES DISIRICT NO. 88-2
WHEREAS, the City Council of the city of Rancho ~ (herein-
after referred to as the "legislative body of the local ~3ency"), is conduct-
ing ~'{~ far the oc~stru~fcion of oertain public i~ in a
Cumm'~nity facilities district pursuant to the terms and provisions of the
'94ello-Roos Community Facilities Act of 1982", being Chapter 2.5, Part 1,
Divisic~ 2, Title 5 of the Gover~t Code of the State of California, said
cu,,-matity facilities district known and designated as OC~9~3N1TY FACILITIES
DISTRICT NO. 88-2 (hereinafter referred to as the "District"); and
~EREAS, this legislative body bm.~ urevi~ly declared in its
Resolution of Intention to issue bonds to f~ said im~N~m~m~s, said
bonds to issue pursuant to the terms and lx~visio~ of the '~4ello-Rooe
Ommmmity Facilities Act of 1982"; and
WHEREAS, at this time this legislative body is desik-ous to set forth
all formal terms and canditians relating to the aut/lc~ization, issuance and
administration of said bonds; and
WHEREAS, there has been presented, cc~sidered and rmad¥ far approval
a format of the Bor~ Indenture far the ba~s settin~ forth the farmal terms
and conditions relati3~ to the is~nce and sale of bands; and
WHerEAS, there bm.~ also been px~sented far consideration by this
legislative body a farm of Bond Purcbm~e OmYcract authc~iz~ the sale of
bonds to Stone & Young, the designated udnerwriter, which sale is to be
made without advertising far bids, as autharized by Section 53360.4 of the
Government Oode of the State of California, it being the detarmination of this
legislative body that such a sale will result in the law~st overall cost to
the District; and
WHEREAS, there has also been presented a form of the preliminary
Official Statement containing information including, but not limited to,
information about the District and the type, terms and conditions of the
NOW, THEREFE~E, the City Oouncil of the City of Rancho Cucamanga does
hereby resolve as follc~s:
Resolution No. 92-131
Page2
SfLTION 2: That this legislative body does authorize the issuance of
the bonds in the aggregate urincipal amount not to exueed $4,000,000.00
pursuant to the terms and pr~visioms of the Bor~ Indentures and the '94ello-
Roos C~a,unity Facilities Act of 1982", being C~m~rfcer 2.5, Part 1, Division 2,
Title 5 of th~ ~ Code of the State of California.
STDCITC~ 3: ~hat the execution and delivery of Bond Indenture is
he~ a~ substantially in the form uresented, subject to modifications
as neoessary and as ap~ by .the City Manager or b~ desigr~-~. Final
ap~ of the Bond ~ shall be conclusively evidenced by the
signature of the City Manager or his designee upon the final Bond ~.
A copy of the Bond Indenture shall be kept on file with the transcript of
these proceed/rigs and open for public inspection.
SfL~UION 4: That the execution and delivery of the Bond Purchase
approved substantially in the fcxm presented, subject to modifications as
~ neoessary and as approved by the City Manager or b~.~ designee and with
the final ~ricing of the ~ being delegated to the City Manager or his
designee. Acceptance of the final Bond ~ Contract shall be evidenced
by tbm signature of the City Manager or his designee.
SMCTION 5: That the Preliminary Official Statement is hereby
approved sub~cant~ally in the form uresented, subject to modifications as
deem~ necessary and as ~ by the City Manag~ or b~- desigr~, and
execution and distribution of the Preliminary Official Statement and the
o~res~ond/ng Official Statement is hereby authorized. ~he City Manager or
regarding the finality of the Preliminary Official Statement as may be
necessary or appropriate for purposes of cc~olying with Section 240.15C2-12 in
Chm~rfcer II of Title 17 of the Code of Federal Regulations ('g~ule 15C2-12"). A
copy of the Preliminary Official Sta~ shall be kept on file with the
transcript of these proceedings and ~ open for public inspection.
OTHER ACI~
SfLTIGN 6: All actions heretofore taken by the officers and agents
of the District and the City with respect to the sale and issuance of the
bonds are hereby ap~, confirmed and ratified, and the City Manager, City
Clerk, the Treasurer and any and all other officers of the District and the
City are hereby authorized and directed, for and in the name and on behalf of
the District, to do any ar~ all things and take any and all actions relating
to the execution and delivery of any and all certificates, re~mitions,
ac3re~m~Tts and other documents, whic~ they, or any of them, my ~ necessary
or advisable in cxder to cc~mmm~te the lawful issuance and delivery of the
bonds in accordance with this Resolution.
Resolution No. 92-131
Page3
PASSfD, APPRGVfD, and ADO~ this 15th day of April, 1992.
AYES: Ai~, Buquet, Stout, Williams
ABSHIqT: Wright
/[~ J. ~, City Clerk
I, D~3RA J. ADAMS, CITY ~.FRK of the City of Rancho Cucamonga,
California, do hereby certify that the fox~3oing Resolution was duly passed,
ap~, and adopted by the City Council of the City of Rancho Cucamonga,
California, at a regular meeting of said City Co~m~il held on the 15th day of
April, 1992.
Executed this 16th day of April, 1992, at Rancho Cucamonga,
california. ~