HomeMy WebLinkAbout91-398 - Resolutions RESOLUTION NO. 91-398
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO
~, CAT.TFORNIA, APPRDVING BOND ~E CONTRACT
AND PR~.TMINARY OFFICIAL STATEM~
WHEREAS, the City Council of the City of Rancho Cucamonga has hereto-
fore undertaken proceedings pursuant to he '~nicipal Improvement Act of
1913", being Division 12 of the Streets and Highways Code of the State of
California, and has confirmed assessments upon lands within a special assess-
ment district described in a Resolution of Intention previously adopted for
said improvements, said special assessment District known and designated as
ASSESSmenT DISTRICT NO. 89-1 (hereinafter referred to as the "Assessment
District"); and
WHEREAS, said proceedings provided for the issuance of bonds pursuant
to the "Improvement Bond Act of 1915", being Division 10 of the Streets and
Highways Code of the State of California; and
WHEREAS, there has now been presented for consideration by this
legislative body a Bond Purchase Contract; and
WHEREAS, there has also been presented for consideration by this
legislative body a Preliminary official Statement containing information
including but not limited to the Assessment District and the type of bonds,
including terms and conditions thereof; and
NOW, THEREFORE, the City Council of the City of Rancho Cucamonga does
hereby resolve as follows:
SECTION 1: ~nat the above recitals are all true and correct.
S~CTION 2: That the Bond Purchase Contract sukmtitted by STONE &
YOUNGBER~ is hereby approved substantially in the form presented herein, and
is subject to modifications as necessary and as approved by the City Manager,
with the concurrence of Bond Counsel, with the final pricing of bonds being
delegated to the City Manager. Final acceptance of the Bond Purchase Contract
shall be evidenced by the signature of the City Manager on behalf of the City.
SECTION 3: The Preliminary Official Statement, as prepared and
submitted, is hereby approved and adopted, and the execution and distribution
is hereby authorized. A copy of said Preliminary Official Statement shall be
kept on file with the transcript of these proceedings and remain open for
public inspection.
SECTION 4: The City Manager, with the concurrence of Bond Counsel,
is hereby authorized to approve a Final Official Statement at or prior to the
bond closing.
PASSED, APPROVt~, and ADOPTED this 2nd day of January, 1992.
~solution No. 91-398
Page 2
AYES: Alexander, Buquet, Stout
NOES: None
ABSENT: Williams, Wright
· ~ Dennis L. Stout, Mayor
City Cle~~-'/
I, DE~RA J. ADAMS, CITY cLRRK of the City of Rancho Cucamonga,
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 2nd day of
January, 1992.
EXecuted this 3rd day of Jan,]~ry, 1992, at Rancho Cucamonga,
California.
'DeJ~ra J. ~m~, City Clerk --