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HomeMy WebLinkAbout90-026 - ResolutionsRESOLUTION NO. FD 90-026 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE RANCHO CUCAMONGA FIRE PROTECTION DISTRICT OF THE CITY OF RANCHO CUCAMONGA, CALIFORNIA, PROVIDING THAT PAYMENTS MADE BY THE DISTRICT IN CONNECTION WITH THE PROPOSED 800 MHZ COMMUNICATIONS PROJECT ARE TO BE MADE IN ANTICIPATION OF REIMBURSEMENT FROM THE PROCEEDS OF A PLANNED FINANCING TO BE ACCOMPLISHED BY THE DISTRICT AND AUTHORIZING AND DIRECTING CERTAIN ACTIONS WITH RESPECT THERETO WHEREAS, the Board of Di rectors of the Rancho Cucamonga Fi re Protection District (the "District") is proposing to proceed with a financing (the "Financing"), and in connection therewith, the District proposes to finance the acqui si ti on of certain components requi red for a 800 MHz communications project, generally described in Exhibit "A" attached hereto and by this reference incorporated herein (the "Project"), and wishes to assure that amounts expended for the Project may be reimbursed from the proceeds of the Fi nanci ng; and WHEREAS, it is in the public interest, for public benefit and in furtherance of the public purposes of the District that the Board of Directors provide preliminary approval of the Financing for the aforesaid purposes. NOW, THEREFORE, the Board of Directos of the Rancho Cucamonga Fire Protection District does hereby find, determine, order and resolve as follows: SECTION 1: The District hereby declares its intent to proceed with a Financing in a principal amount of not to exceed Two Million Dollars ($2,000,000.00) for the purpose of acquiring and installing the Project. SECTION 2: The District hereby declares its intent to use proceeds of the Financing to pay for costs of the Project which are incurred after completion of the Financing as well as to reimburse the District or others for amounts paid or incurred for the Project or the Financing prior to completion of the Financing. SECTION 3: The District hereby determines that it will take all action necessary or advisable in connection with the Financing. SECTION 4: The payments to be made by the District with respect to the Financing will be an obligation payable from any legally available funds by the District. SECTION 5: The Fi nanci ng shal 1 be upon such terms and condi ti ons as may be subsequently determined by the District and shall be subject to comple- tion of proceedings therefore. SECTION 6: The proceeds of the Financing shall include such related and necessary delivery costs, administrative expenses, debt service reserves and interest payments as may be required to accomplish the Financing success- fully. Resol uti on No. FD 90-026 Page 2 SECTION 7: The Board of Directors of the Rancho Cucamonga Fire Protection District hereby finds that the adoption of this Resolution is a substantial inducement to the District and others to expend amounts for the Project and the Financing in advance of the Financing, and that the Project will further the public purposes of the District. SECTION 8: This Resolution is adopted solely for the purpose of assuring that the exclusion of interest paid with respect to the Financing for federal income tax purposes will not be adversely affected by reason of the use of proceeds of the Financing for the reimbursement of costs paid or incurred in advance of the Financing, and the action of the Board of Directors in adopting this Resolution shall not vest in the District or in others a right to require reimbursement in the event that the Board of Directors, in its sol e di screti on determines, i n the course of proceedings for the Fi nanc- ing, not to reimburse for costs paid or incurred in contemplation of the Financing. PASSED, APPROVED, and ADOPTED this 3rd day of October, 1990. AYES: Alexander, Brown, Buquet, Stout, Wright NOES: None ABSENT: None ATTEST: D . d S I, DEBRA J. ADAMS, SECRETARY of the Rancho Cucamonga Fire Protection District do hereby certify that the foregoing Resolution was duly passed, approved, and adopted by the Board of Directors of the Rancho Cucamonga Fire Protection District, at a regular meeting of said Board held on the 3rd day of October, 1990. Executed this 4th day of October, 1990 at Rancho Cucamonga, Cal i forni a. Secretary Resol uti on No. FD 90-026 Page 3 EXHIBIT "A" An 800 Megahertz Radio Communication System including primary transmitters, receivers, microwave links, computers, software, base stations, mobile radios, hand- held radios, antennas, wiring, and related equipment. Said communi cati on system i s to provi de radio and communication service to the City's public safety and general government operations.