Loading...
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