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HomeMy WebLinkAbout94-025 - ResolutionsRESOLUI~ONNO. 94-025 A RESOLUTION OF THE CITY COL~CIL OF ~HE CITY OF RANC~{O ~, C~T.TFORNIA, A~ZING ISSUANCE OF BC~DS, APPROVING F~H~S OF BOND IND~i~/RE, BC~D ~ ~ ~.ITIES DISTRICT NO. 93-3 (~ MARKETPLACE) WHEREAS, the CITY ~ of tb~ CITY OF RANC~0 ~, CAT.TFORNIA, is oor~0ctix~ ~{r~s for the acquisition of oertain public improvements in a cummunity facilities district talrsuant to the terms and pro-visions of the '9~ello-Roos (k~,mmity Facilities Act of 1982", being Chapter 2.5, Part 1, Division 2, Title 5 of the Govez-~ COde of the State of California (the "Act"), said Cu~mmity Facilities District _~ignated as ~ FACF~ .TTIES NO. 93-3 (FOO~4TIZ. ~~2E) (herinafter referred to as the "District"); and, WHEREAS, this legislative body has previously declared in its Resolution of Intention to issue bonds to finance said /mprovements, said bonds to issue pursuant to tb~ 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, is~,mnce 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 is~,~nce and sale of bonds; and WHEREAS, there has also been presented for consideration by this legislative body a form of Bond Purchase Agreement authorizing the sale of bonds to Stone & Youngberg, the designated underwriter; and, WHEREAS, there ban also been presented a form of th~ Preliminary official Statement containing information including but not limited to the District and the type of bonds, including terms and conditions th~_reof; and, WHEREAS, at this time there has been sukmtitted to this legislative body for review and approval, an A~=quisition/Financing Agreement setting forth certain terms and conditions, as well as estimated prioes and q~,~ntities of work to be installed and financed pursuant to the above-referenoed A~. NC~, THEREFORE, the City Council of the City of Rancho Cucamonga does hereby resolve as follows: That the above recitals are true and correct. SECTION 2. That this legislative bodydoes authorize the issuance of bonds pur~3ant to the terms and provisions of the A~c. Resolution No. 94-025 Page2 S~CION 3. That the Bond Indenture is approved substantially in tb~ form urese~ted herein, subject to modifications as ~~ry and as approved by the City Manager, subject to the review and approval of the City Attorney and Bond Counsel. 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 proceedings and open for public inspection. FINAL BOND DRrIVI~Ry S~CTION 4. No further action will be required by this legislative body if the bonds are uriced, sold and delivered prior to the 1st day of June, 1994. S~CTI~ 5. That the Bond Purchase Agreement sutmtitted by Stone & Youngberg, the designated underwriter, is hereby approved substantially in the form presented herein, and is subject to modifications as rmo=~ry and as approved by tb~ City Manager, subject to the review and approval of the City Attorney and Bond Counsel, with the final pricing of bends being delegated to City Manager. Final aoceptance of the Bond Purchase Agreement shall be evidenced by the signature of the City Manager on behalf of the City; provided, however, the City Manager may sign such Bond Purchase Agreement only if the underwriter's discorunt is equal to or less than 2.00% and the annual rate of interest on the bends is equal to or less than 8.00%. S~LTION 6. That the Prelimiary Official Statement is approved substantially in the form presented, subject to modifications as neoessary and as approved by the City Manager, and execution and distribution of the Prel'~inary Official Statement and the corresponding final Official Statement is h~ authorized. The City Manager is further authorized to exeorte and deliver any oertificate regarding the finality of the Preliminary Official Statement as may be ~~ry or appru~riate for purposes of orereplying with Section 240.15C2-12 in Chapter II of Title 17 of the Oode of Federal ~tlati~ ('~ule 15C1-12"). A copy of the Preliminary Official Statement and final Official Statement shall be kept on file with the transcript of these --~-oceedings and remain open for public inspection. OI~ ACTS S~2TION 7. All actions heretofore taken by the officers and agents of the City with respect to the sale and issuance of the bends are hereby ap~, confirmed and ratified, and the City Manager and any and all othe~ officers of the City are he~ authorized and directed, for and in the name and on behalf of the City, to do any ar~ all things and take any and all actions relating to the ~on and delivery of any and all certificates, Resolution No. 94-025 Page 3 requisitions, agreements and other documents, which the City may deem of the bonds in acoordance with this resolution. PASSfD, APPROVED, and ADO~ this 16th day of F~a~y, 1994. Alexander, Buquet, Gutierrez, Stout, Williams NOES: None I, DEBRA J. ADAMS, CITY ~.~K of the City of Rancho Cucamonqa, California, do hereby certify that the foregoing Resolution was duly passed, approved, and adopted by the City Council of the City of Rancho Cucamonga, California, at a regular meeting of said City Council held on the 16th day of F~h~ary, 1994. Executed this 17th day of Fe_hruary, 1994, at RanalTo O~cam~nga, California. J. Ad_,ms, Cit~ Clerk