HomeMy WebLinkAbout2001-127
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(See Resolutions 2001-125, 2001-126, 2001-128, CDC/2001-20, CDC/2001-21)
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RESOLUTION NUMBER:
2001-127
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RESOLUTION OF DECLARATION OF OFFICIAL INTENT OF THE MAYOR
AND COMMON COUNCIL OF THE CITY OF SAN BERNARDINO TO
REIMBURSE CERTAIN EXPENDITURES FOR THE HARRIMAN PLACE
IMPROVEMENT PROJECT FROM PROCEEDS OF INDEBTEDNESS
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WHEREAS, the City of San Bernardino (the "City") intends to construct and carry out
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the Harriman Place Project to construct street improvements that realign the western end of
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Harriman Place with Laurelwood Drive at Tippecanoe Avenue (the "Project"); and
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WHEREAS, the City expects to pay certain expenditures (the "Reimbursement
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Expenditures") in connection with the Project prior to incurring indebtedness for the purpose
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of financing costs associated with the Project on a long-term basis; and
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WHEREAS, the City reasonably expects that a loan in an amount not to exceed
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$2,000,000 will be obtained and that certain of the proceeds of such debt obligations will be
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used to reimburse the Reimbursement Expenditures.
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17 NOW, THEREFORE, the Mayor and Common Council of the City of San Bernardino
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Section 1. It finds and determines that the foregoing recitals are true and correct.
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Section 2. This declaration is made solely for purposes of establishing compliance with
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the requirements of Section 1.150-2 of the Treasury Regulations. This declaration does not
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bind the City to make any expenditure, incur any indebtedness, or proceed with the Project.
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Section 3. The City hereby declares its official intent to use proceeds of indebtedness
to reimburse itself for Reimbursement Expenditures.
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0512]/01
HUB Declaration
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2001-127
Section 4. This resolution of declaration of official intent shall take effect immediately
upon its adoption and approval.
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OS/21/01
HUB Declaration
2001-127
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RESOLUTION OF DECLARATION OF OFFICIAL INTENT OF THE MAYOR
AND COMMON COUNCIL OF THE CITY OF SAN BERNARDINO TO
REIMBURSE CERTAIN EXPENDITURES FOR THE HARRIMAN PLACE
IMPROVEMENT PROJECT FROM PROCEEDS OF INDEBTEDNESS
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4 I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Mayor
5 and Common Council of the City of San Bernardino at a i oint regular
meeting
6 thereof, held on the 21st day of May
7 Council Members: Ayes Nays
8 ESTRADA X
LIEN ..lL
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MCGINNIS X
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SCHNETZ X
11 X
SUAREZ
12 ANDERSON X
13 MC CAMMACK X
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,2001, by the following vote to wit:
Abstain
Absent
R~Ci~l~
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The foregoing resolution is hereby approved this
25 th day of
//
May
,2001.
Approved as to form and Legal Content:
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James F. Penman
City Attorney
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OS/21/01
HUB Declaration