HomeMy WebLinkAboutResolution - 1818 I RESOLUTION NO. 1818
l RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN JACINTO, I
14 CALIFORNIA, ACCEPTING PROPOSAL AND MAKING AWARD FOR SALE O
z HONDS IN A COMMUNITY FACILITIES DISTRICT •rye
THIS RESOLUTION IS ADOPTED WITH REFERENCE TO THE FOLLOWING
FACTS,
4
WHEREAS , the CITY COUNCIL of t h 0 CITY OF SAN JACINTO,
r. CALIFORNIA (hereirafter referred to ds the " legislative body of
the local Agency" ) , has instituted proceedings, held a public
E hearing, conducted an election and has authorized the sale of
bonds under the terms and provisions of the "Mello-Roos Commu-
nity Facilities Act of 19B2" , being chapter 2 . 5 , Part I,
❑ivisinn 2 , Title 7� of the Government Code of the State of
8 California. This Community Facilities District shall herein-
after be referred to as COMMUNITY FACILITIES ❑ISTRICT No. 2
q (hereinafter referred to as the "District" ) ; and,
10 WHEREAS, it was determined by this legislative body that it
was necessary to incur a bonded indebtedness to pay for all or a
11 portion of public capital facilities of said District, and the
proposition relating to the incurring of a bonded indebtedness
1� has received a favorable 2/3 ' 23 vote of the qualified electors
voting at the authorized election; and,
1�
WHEREAS , there has now been received , irl proper form, a
ZL proposal and/or purchase agreement ( hereinafter referred to as
"Purchase Agreement" ) for the purchase of bonds to issue under
15these proceedings, and said Purchase Agreement received is
considered to beet serve the interests of the property owners
16 and residents within the boundaries of the District and should
be accepted.
NOW, THEREFORE, RE IT RESOLVED, by the City Council of the
18 City of San Jacinto, in regular Beseion, this 18th day of April,
1969 as follows !
1�
1. That the above recitals are all true and correct.
20
2 . That the written Purchase Agreement received from STONE &
21 YOUNGBERG relating to the purchase of certain special tax
Community Facilities District hands designated as CITY Cr
22 SAN JACINTO, COMMUNITY FACILITIES DISTRICT No. 2 , SPECIAL
TAX BONDS" is hereby accepted and approved substantially in
.�� the form presented herein, subject to modifications as neces-
sary and approved by the City Manager, with the concurrence
2L of Band Counsel; provided, however, that the interest rate
payable with respect to any maturity of the bonds does not
N5 exceed 9%, the underwriting discount does not exceed 2 . 5%,
and the principal amount of the bonds does not exceed
26 $26, 000 ,000 .00. The final approval of the Purchase Agree-
ment shall be conclusively evidenced by the signature of the
27 City Manager , who is hereby authorized and directed to
execute the Purchase Agreement an behalf of the city and the
28 District.
29 3. The City Manager is hereby authorized and directed to
immediately have bonds printed, and said City Manager shall
30 have said bonds signed and delivered to said purchaser upon
the receipt of the amount of monies due pursuant to said
31 Purchase Agreement and upon the performance of all condi-
tions as set forth in said Purchase Agreement.
32 ...-
i�
� A. The shove sale and acceptance of the Purchase Agreement has
peen made without advertising for bids, as authorized by
Section 53360 . 4 of the Covernment Code of the State of
1 California, ae it is hereby determined by this legislative j
•��� 2 hody that said sale would result in a lower interest oDst on i
the bonds.
5 - The city Clerk shall certify to the adoption of [his
Resolution.
5
MOVED, PASSED AND ADOPTED AT A REGULAR tiEETIEG OF SAID CITY
6 COUNCIL duly held the 18th day of April , 1989 .
7 ATTEST:
g Meyor �`y
9 - - - - - - -
Deputy City Clerk
10
�1 CERTIFICATE
The foregoing ie certified to be a true copy of a Resolution
13 duly adopted by said Ci=y Council of the city of San Jacinto on
the date therein set forth.
14
15 ATTEST:
16 �
,yaw �.
17 ' - - -
Deput.y City clerk
18
19
20
21
22
23
24
25
26
27
26
29
30
31
`4r
32