HomeMy WebLinkAboutResolution - 87-4 REDEVELOPMENT AGENCY OF
THE CITY OF SAN JACINTO
RESOLUTION NO, RDA-87-4
RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF
SAN JACINTO APPROVING A LEASE AGREEMENT, A SITE LEASE,
AN ASSIGNMENT AND TRUST AGREEMENT, A REIMBURSEMENT
AGREEMENT AND CERTAIN OTHER DOCUMENTS WITH THE CITY OF
SAN JACINTO, AND AUTHORIZING THE PREPARATION, SALE AND
DELIVERY OF NOT TO EXCEED $3,580,000.00 AGGREGATE
PRINCIPAL AMOUNT CERTIFICATES OF PARTICIPATION AND
AUTHORIZING CERTAIN ACTIONS IN CONNECTION THEREWITH
WHEREAS , the Redevelopment Agency of the City of San
Jacinto is a public body, corporate and politic, organized and
existing under the laws of the State of California (the
"Agency" ) with the authority to assist in the financing of the
acquisition, construction and rehabilitation of certain
facilities and property (the "Project" ) on behalf of the City
of San Jacinto (the "City" ) ; and
WHEREAS, the City desires to lease certain real property of
the City owned or to be acquired by the City for use in
conjunction with the Project owned or to be acquired by the
City and to deliver a Site Lease, or Leases , the form of which
has been presented to the members of this Agency at the meeting
at which this Resolution has been adopted; and
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WHEREAS, the City and the Agency have determined that it
would be in the best interests of the City, the Agency and the
citizens of the community to authorize the preparation, sale
and delivery of Certificates of Participation in an aggregate
principal amount not to exceed $ 3,580,000 (the "Certificates" )
which Certificates evidence a proportionate interest in certain
Base Rental to be made pursuant to the Lease; and
WHEREAS, the City desires to enter into a Purchase Contract
(the "Purchase Contract" ) , by and between the City and First
California Regional Securities (the "Purchaser" ) , pursuant to
which the Purchaser has agreed to buy the Certificates on the
terms and conditions set forth therein, the form of which has
been presented to the members of this Agency at the meeting at
which this Resolution was adopted,-
NOW, THEREFORE, the members of this Agency do hereby
resolve as follows :
SECTION 1 : Certificates . The members of this Agency
hereby authorize the preparation, sale and delivery of the
Certificates in an aggregate principal amount not to exceed
$ 3,580,000.00 in accordance with the terms and provisions
of the Trust Agreement . The purposes for which the proceeds
and the Certificates shall be expended are to pay the cost of
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SECTION 4 : other Actions . The Chairman and the Secretary,
and such other officers of the Agency are authorized and
directed, jointly and severally, to do any and all things and
to execute and deliver any and all documents which they may
deem necessary and advisable in order to consummate the sale
and delivery of the Certificates, and the delivery of the
Lease, the Reimbursement Agreement, the Trust Agreement and the
Site Lease, and otherwise effectuate the purposes of this
Resolution, and such actions previously taken by such officers
are hereby ratified and confirmed.
SECTION 5 : Effect , This Resolution shall take effect from
and after its date of adoption.
ADOPTED, SIGNED AND APPROVED this 22nd day of December ,
1987 .
J
ATTEST :
Secretary
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STATE OF CALIFORNIA
RIVERSIDE COUNTY
I , r &,Iv Secretary of the Redevelopment
Agency of the City of San Jacinto, do hereby certify that the
foregoing resolution was duly adopted by the members of said
Agency at a meeting held on the 22nd day of December , 1987 , and
that it was so adopted by the following vote.
AYES: Ford, Stevens , Divine, Reddinq and Stuart
NOES : None
ABSENT: None
ABSTAIN: None
and that such resolution has not been amended, modified or
rescinded and is in full force and effect as of this date .
Date: December 22, 1987
Secratery
2784011/11 (LA) 7