HomeMy WebLinkAboutResolution - RDA 85-4 1 RESOLUTION NO. RDA-85-4
2 A RESOLUTION OF THE SAN JACINTO REDEVELOPMENT AGENCY
APPROVING THE PREPARATION, ISSUANCE, SALE AND DELIVERY
3 OF CERTIFICATES OF PARTICIPATION WITH REGARD TO THE
SCRIPPS CLINIC PROJECT AND MAKING CERTAIN DETERMINATIONS
4 RELATING THERETO PURSUANT TO THE TAX EQUITY AND FISCAL
`•\ RESPONSIBILITY ACT OF 1982 (TEFRA)
5 (SCRIPPS CLINIC PROJECT)
6 WHEREAS, the 'San Jacinto Redevelopment Agency (sometimes referred to in
7 this Resolution as the "Agency") intends to finance a certain project (the
1 8 "Project") consisting of a medical clinic of approximately 16,000 square feet
91 of interior space; with offstreet parking for motor vehicles, the real prop-
10 erty on which such clinic will be located, the necessary auxiliary facilities
11 and appurtenances and appurtenant work, to be managed and operated by the
12 Scripps Clinic and Research Foundation ("Scripps") and to be located in the
13 City of San Jacinto (the "City") on Mountain Avenue, between Plain and Seventh
14 Streets for the benefit of the City's citizens; and
15 WHEREAS, such financing is intended to be accomplished by the issuance
16 of Certificates of Participation (the "Certificates") in an amount presently
17 estimated to be $4,000,000.00, but, in any event, not exceeding 510,000,000.0 ,
18 all under and in accordance with the laws of the State of California; and
19 WHEREAS, the Secretary of the Agency has caused notice (the "Notice") of
20 such public hearing to be published once (giving at least 14 days' notice) in
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21 the Hemet News and has reported to the Agency that such notice has been duly
22 and regularly given; and
23 WHEREAS, on May 21 , 1985, at a regular meeting of the Agency, such Public
24 hearing was duly held; and
25 WHEREAS, the subject matter of the hearing was the proposed financing by
26 the Agency of the Project in an amount not to exceed 510,000,000.00; and
27 WHEREAS, at the time and place stated in the Notice, the financing of
2811 the Project was presented, and any and all persons who so desired appeared an
291 were heard, and this Agency was fully informed in the premises.
30I NOW, THEREFORE, THE SAP! JACINTO REDEVELOPMENT AGENCY DOES HEREBY RESOLVE,
31 I DETERMINE AND ORDER AS FOLLOWS:
32 1 Section 1 . The above recitals are true and correct in all respects, and
I all actions heretofore taken by or at the direction of the Agency and its mem-
2 bers and agents directed toward the preparation, issuance, sale and delivery
3 of the Certificates are 'hereby approved and ratified.
4 Section 2. The preparation, issuance, sale and delivery of the Certifi-
5 cates in an amount not to exceed $10,000,000.00 are hereby approved, and the
6 Chairman (being an elected public official of the City) is hereby authorized
7 and directed to execute this Resolution pursuant to TEFRA.
8 Section 3. Effective Date. This Resolution shall take effect upon
9 adoption.
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10 MOVED, PASSED AND ADOPTED the 21st day of Play 1985, by the following
11 vote:
12 AYES: Agency members Visser, Stevens, Rose, Divine and Stuart
13 NOES: None
14 ABSENT: None
15 ATTEST:
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eEretary San into R development Agency
17 San Jacinto Redevelopment Aqency
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