HomeMy WebLinkAboutResolution - 1817 i
RESOLUTION NO. 1317
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RESOLUTION of THE CITY COUNCIL OF THE CITY OF SAN JACINTO,
2 CALIFORNIA, AUTHORIZING ISSUANCE OF BONDS, APPROVING EOND�r+'
INDENTURE AND OFFICIAL STATEMENT FOR A COMMUNITY FACILITIES
-� DISTRICT
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THIS RESOLUTION IS ADOPTED WITH REFERENCE TO THE FOLLOWING
FACTS:
6 ; WHEREAS , the CITY COUNCIL of the CITY OF SAN JACINTO,
CALIFORNIA, in its capacity as the legislative body of Community
,y Facilities Ui9tiict No. 2 (the "bistrict" ) is conducting proceed-
s ings to finance the acquisition or the construction of Certain
a public improvements in the District pursuant to the terms and
provisions of the "Mello-Roos Community Facilities Act of 19B2" ,
being Chapter 2 . 5 , part 1 , Division 2 , Title 5 of the Government
Code of the State of California (the "Act" ) ; and ,
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WHEREAS, this legislative body has previously declared in its
_1 Resolution of Intention to issue bonds to finance said improve-
ments, said bonds to issue in an aggregarte principal amount not
_2 ' to exceed $26, 000,000,00 pursuant to the terms and provisions of
the Act; and,
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WHEREAS, at this time this legislative body is desirous to set
14 forth all formal terms and conditions relating to the authoriza-
tion, issuance and administration of said bonds; and,
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WHEREAS, there has been presented, considered and ready fur
16 approval a bond indenture setting forth formal terms and
conditions relating to the issuance and sale of hands; and ,
Now
17 WHEREAS, there has been presented the Bond Proceeds Release
1B Agreement by and between the District. and PR Equitioa, Ltd. ;
and,
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WHEREAS, there has also been presented a preliminary Official
20 Statement containing information including but not limited to
the District and the type of bonds , including terms and
21 conditions thereof.
22 NOW, THEREFORE, IT t5 HEREBY RESOLVED, by the City Council of
the city of San Jacinto, in regular session, this lath day of
V3 April , 1989 as follows :
24 1 . That the above recitals are true and correct.
25 2 . That this legislative body does authorize the issuance of
bonds in an aggregate principal amount not t❑ exceed
26 $26,000,000. 00 pursuant to the terms and provisions of the
Act , and does expressly approve and authorize the execution
Lq by the City Manager of the BOND INDENTURE dated May 1, 1989
(the "Bond Indenture' ) to be entered into by the City of San
28 Jacinto on behalf of the Dietrint substantially in the form
presented herein, subject to modifications as necessary and
28 as approved by the City Manager, with the concurrence of
Band Counsel. A copy of said Bond Indenture shall be kept
30 on file with the transcript of these proceedings and open
for public inspection.
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32 -now
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3 . Finai approval of the Bond Indenture shall be conclusively
evidenced by the signature of the City Manager upon f'_naL
q _ g P
1 delivery of bonds and receipt of proceeds . Said bonds shall
�4 be issued and subject to the terms and conditions in said
approved Bond Indenture.
2I 4. That this legislative body does hereby approve and authorize
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the execution by the City Manager of the Bond Proceeds
R e I e a ee Agreement by and between the District and PR
Equities, Ltd . , substantially in the form presented herein,
subject to modification as necessary and approved by the
City Manager, wit9 the concurrence of aondCounsel . Final
approval of such agreement snali be conclueively evidenced
yy by the signature of the City Manager.
lE 5 . That the form of the preliminary official Statement cf the
District with respect to the bonds, presented to the legisla-
tive body at this meeting, is hereby approved . The City
D Manager is hereby authorized and directed, for and in =he
game of the District , to cause to be prepared a final
10 ' official Statement of the District with respect to the bonds
[the "official Statement" ] consisting of the preliminary
11 Official statement with such changes therein as Bond Counsel
may require or approve. The City Manager is hereby autho-
12 rized and directed, for and in the name of the District, to
execute the Official Statement. The Underwriter is hereby
13 authorized to distribute the preliminary Official Statement
to persona who may be interested in purchasing the bonds,
14 and the Underwriter is hereby directed to deliver copies of
the final Cfficiai Statement to all actual purchasers of the
15 bonds.
16 6. The City Clerk s h a 11 certify to the adoption of this
. Resolution.
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18 MOVED, PASSED AND ADOPTED AT A REGULAR MEETING OF SAID CITY
COUNCIL duly held the 18th day of April, 1989.
ATTEST:
Mayor
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22 Deputy city Clerk
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CERTIFICATE
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25 The foregoing is certified to be a trae copy of a Resolution
duly adapted by said City C❑uucil of the City of San dacinto on
26 the date therein set forth.
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ATTEST:
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29
��;�4 t_t-T•J-- P—LC�i2tG�-7a!— _
30 Deputy. City Clerk
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