HomeMy WebLinkAbout82-108 - ResolutionsRESOLUTION NO. 82-108
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
RANCHO CUCAMONGA, CALIFORNIA, A[FrHORIZING THE
SALE OF SPECIAL ASSESSMENT BONDS TO FINANCE
IMPROVE~ENTS IN A SPECIAL ASSESSMENT DISTRICT
WHEREAS, the City Council of the City of Rancho Cucamonga,
California, has initiated proceedings pursuant to the terms and con-
ditions of the "Municipal Improvement Act of 1913", being Division 12 of
the Streets and Highways Code of the State of California, for the con-
struction of certain public works of improvement, together with appurten-
ances and acquisition, where necessary, in a special assessment district;
said special assessment district known and designated as
ASSESSMENT DISTRICT NO. 82-1
(hereinafter referred to as the "Assessment District"); and
WHEREAS, it has been further determined that serial bonds
shall be issued to finance the costs and expenses of said improvements
and proceedings, and said bonds shall be issued pursuant to the terms
and provisions of the "Improvement Bond Act of 1915", being Division 10
of the Streets and Highways Code of the State of California; and
WHEREAS, at this time, this legislative body is desirous of
authorizing the sale of bonds to finance the works of improvement as
proposed for this Assessment District.
NOW, THEREFORE, IT IS HEREBY RESOLVED AS FOLLOWS:
SECTION 1: That the above recitals are all true and correct.
SECTION 2: That FIELDMAN, ROLAPP & ASSOCIATES is hereby
authorized to solicit a proposal for the sale of bonds for the Assessment
District. The interest rate on said bonds shall not exceed the current
legal maximum rate of twelve percent (12%) per annum. Said bonds shall
be issued pursuant to the terms and conditions as set forth in the
Resolution of Intention as previously adopted for these proceedings.
SECTION 3: That this Resolution is adopted pursuant to the
provisions of Section 10602 of the Streets and Highways Code of the
State of California, and it is further directed that all recommendations
relating to the sale of bonds be presented to this body no later than
the time set for the Public Hearing on the "Report" and related matters
for this Assessment District.
SECTION 4: That there will be provided, at no expense to the
bidder, the unqualified legal opinion of F. MACKENZIE BROWN, Attorney at
Law, attesting to the validity of the proceedings and the enforceability
of the bonds.
SECTION 5: That pursuant to the provisions of Section 10600.5,
it is hereby determined that the bonds shall bear interest from their
date, and the date of the bonds shall be September 2, 1982.
SECTION 6: That the Information for Bidders Statement relating
to the sale of the assessment bonds for the Assessment District is
herepy approved, and for further particulars, reference is made to said
Information for Bidders Statement on file with the transcript of these
proceedings.
PASSED, APPROVED, and ADOPTED this 16th day of June, 1982.
Resolution No. 82-108
Page 2
AYES:
NOES:
ABSENT:
Dahl, Buquet, Schlosser, Frost, Mikels
None
None
ATTEST:
· Wasserman, City Clerk