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HomeMy WebLinkAbout94-058 - ResolutionsRESOI/3TIONNO. 94-058 A RESOLUTION OF THE CITY OOL~CIL OF THE CITY OF RANCHO ~, CAT.TFORN/.A, AUTHORIZING ISSL~N(~ OF BONDS, ~ FAC~.ITIES DISTRICT WHt~EAS, the city Council of the City of Rancho (k~c~monga, California, is conducting proceedir~s for the construction of certain public improvements of the '9~ello-Roos CO~ma%ity Facilities Act of 1982", being Chapter 2.5, Part 1, Division 2, Title 5 of the Government Oo~e of the State of Califoxnia (the "Act"), the C~m~unity Facilities District designated as ~ FAcr~.~fIES DISTRICT NO. 88-2 (hereinafter referred to as the "District"); and, WHEREAS, this legislative body has previously declared in its Resolution of Intention to issue bonds to finance said i~provements, said bonds to issue pursuant to the terms and provisions of the Act; and, WHEREAS, at this time this legislative body is desirous to set forth all formal terms and conditions relating to the authorization, issuance and administration of said bonds; and, WHEREAS, there has been presented, considered and ready for approval a bond indenture setting forth formal terms and conditions relating to the issuance and sale of bonds; and, WHEREAS, there has also been presented for consideration by this legislative body a form of Bond Purchase Oontract authorizing the sale of bonds to Stone & Youngberg, the designated underwriter; and, WHEREAS, there has also been presented a form of the Preliminary Official State~_nt containing information including, but not limited to the District andthe type of bonds, including terms and conditionsthereof. NC~, THEREFORE, the City Council of the city ofRanchoCucamongadoes hereby resolve as follows: S~L"TION 1: That the above recitals are true and correct. SECTION 2: That this legislative body does authorize the issuance of bonds pursuant to the terms and provisions of the Act. SECTION 3: That the Bond Indenture is approved substantially in the form presented herein, subject to modifications as nec~ry and as approved by the city Manager. Final approval of the Bond Indenture shall be conclusively evidenced by the signature of the City Manager. A copy of said Bond Indenture shall be kept on file with the transcript of these prooeedings and open for public inspection. Resolution No. 95-058 Page2 S~CTION 4: That the Bc~d Purchase Contract sulanitted by Stone & Youngberg, the designated underwriter, is hereby approved substantially in the form p~esented herein, and is subject to modifications as necessary and as approved by the City Manager, with the final pricing of bonds being delegated to the City Manager. Final acceptanoe of the Bond Purchase Contract shall be evidenced by the signature of the City Manager on behalf of the City. PR~IMINARY OFFICIAL STAT~M~ S~E/ON 5: That the Prel'nninary Official Statement is approved substantially in the form presented, subject to modifications as necessary and as approved by the City Manager, and execution and distribution of the Preliminary Official Statement and the corresponding final Official Statement is hereby authorized. The City Manager is further authorized to execute and deliver any certificate regarding the finality of the Preliminary Official Statement as may be necessary or appropritate for purposes of complying with Section 240.15C2-12 in Chapter II of Title 17 of the Code of Federal Regulations ("Rule 15C2-12"). A copy of the Preliminary Official Statement and final Official Statement shall be kept on file with the transcript of these proceedings and remain open for public inspection. OTHER ACTS S~TION 6: All actions heretofore taken by the officers and agents of the City with respect to the sale and issuance of the bonds are hereby approved, confirmed and ratified, and the City Manager and any and all other officers of the City are hereby authorized and directed, for and in the name and on behalf of the City, to do any and all things and take any and all actions relating to the execution and delivery of any and all certificates, requisitions, agreements and other documents, which the City Manager may deem necessary or advisable in ~rder to consta,,,t~ate the lawful issuace and delivery of the bonds in accordance with this resolution. PASSED, ~, and ADOPTED this 6th day of April, 1994. AYES: Alexander, Buquet, Gutierrez, Williams NOES: None Mayor ProTem Resolution No. 94-058 Page3 _b~_~D~] '~~a J ~, City Clerk I, DE~RAJ. ADAMS, CITY ~.FRK of the City of Rancho Cucamonga, California, do hereby certify that the foregoing Resolution was duly passed, ap~, and adopted by the City Council of the City of Pancho Cucamonga, California, at a regular meeting of said CityCouncil heldonthe 6thday of April, 1994. Executed this 7th day of April, 1994, at Rancho Cucamonga, California. Debra J. Ad~s, City Clerk