HomeMy WebLinkAbout1999-030
See Also CDC 1999-3
RESOLUTION NO. 1999-30
OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN
AUTHORIZING AMENDMENT TO BOND DOCUMENTS FOR THE
CERTIFICATES OF PARTICIPATION (1995 POLICE STATION
7 WHEREAS, the City of San Bernardino (the "City") and the
8 Redevelopment Agency of the City of San Bernardino (the "Agency")
9 entered into a Joint Exercise of Powers Agreement establishing the
10 San Bernardino Joint Powers Financing Authority (the "Authority")
11 for the purpose, among other things, of issuing debt to be used to
12 make loans to finance certain acti vi ties of the City and the
13 Agency; and
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WHEREAS, in 1995, the Agency leased certain property to
16 the Authority to be used as a Police Station and adjacent parking
17 structure pursuant to a certain Site and Facility Lease dated as of
18 April 1, 1995 (the "Site and Facility Lease"); and
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20 WHEREAS, the Authority then leased said property to the
21 City pursuant to that certain Lease Agreement dated as of April 1,
22 1995 (the "Lease Agreement"); and
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WHEREAS, the Authority and U. S. Bank Trust National
25 Association formerly known as First Trust of California National
26 Association, as trustee (the "Trustee") entered into a Trust
27 Agreement (the "Trust Agreement") in order to cause the execution
28 and deli very of certain Certificates of Participation enti tIed
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1999-39
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Certificates of Participation (1995 Police Station Project) in the
aggregate amount of $6,300,000 (the "Certificates"); and
WHEREAS, the payments under the Lease Agreement were
assigned to the Trustee pursuant to the Trust Agreement and an
Assignment Agreement dated as of April 1, 1995 between the
Authority and the Trustee (the "Assignment Agreement"); and
the Site and Facility Lease,
WHEREAS,
the Lease
10 Agreement, and the Assignment Agreement (collectively the "Bond
11 Documents") each contain legal descriptions of the property which
12 is the subject of the Site and Facility Lease and the Lease
13 Agreement; and
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15 WHEREAS, the legal description of the property
16 inadvertently included a parcel adjacent to the police station
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building and the parking structure; and
WHEREAS, the Authority, Agency and City now desire to
correct the legal description to delete the parcel which was
incorrectly added to the legal description; and
WHEREAS, Section 10.01 of the Trust Agreement provides
that the Trust Agreement and the Bond Documents may be amended "to
modify the legal description of the Site (as therein defined) to
conform to the requirements of title insurance or otherwise to add
or delete property descriptions to reflect accurately the
description of the parcels intended to be included therein."
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. 1999~30
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NOW, THEREFORE, THE MAYOR AND COMMON COUNCIL OF THE CITY
OF SAN BERNARDINO, DOES HEREBY RESOLVE, DETERMINE AND ORDER AS
FOLLOWS:
Section 1.
Recitals. The Recitals contained herein
are true and correct and are incorporated herein by reference.
Section 2. ADDroval of Final Form of Bond Documents.
The City hereby approves the form of Bond Documents presently on
file with the Secretary together with any changes therein or
additions thereto as may be approved by the Mayor or Administrator.
The City hereby further authorizes and directs that the form of
Bond Documents presently on file with the City Clerk be converted
into the final form thereof, together with such changes or
modifications as deemed necessary or desirable by the Mayor or
Administrator of the City upon the recommendation of Bond Counsel.
The Mayor, Administrator or such other authorized officer of the
City is hereby authorized and directed to execute and deliver, and
the City Clerk or Assistant City Clerk is hereby authorized and
directed to attest to, the final forms of the Bond Documents when
the same have been prepared and such execution and delivery shall
be deemed to be conclusive evidence of the approval thereof.
Section 3. Official Action. The Mayor,
Administrator, City Clerk, Bond Counsel and any and all other
officers of the City are hereby authorized and directed, for and in
the name and on behalf of the City, to do any and all things and
take any and all actions, necessary to cause the amendments to the
Bond Documents and the recording of the corrected legal
descriptions thereto.
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1999-30
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RESOLUTION
BERNARDINO
$6,300,000
PROJECT)
OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN
AUTHORIZING AMENDMENT TO BOND DOCUMENTS FOR THE
CERTIFICATES OF PARTICIPATION (1995 POLICE STATION
Section 4.
This Resolution shall take effect upon the
5 date of its adoption.
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I HEREBY CERTIFY that the foregoing Resolution was duly
8 adopted by the Mayor and Common Council of the City of
9 San Bernardino at a joint regular
meeting thereof,
10 held on the 15tb
February
day of
, 1999, by the
11 following vote, to wit:
12 Council:
ESTRADA
13 LIEN
McGINNIS
14 SCHNETZ
DEVLIN
15 ANDERSON
MILLER
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19 day of
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AYES
X
X
X
X
X
X
X
NAYS
ABSTAIN
ABSENT
(7;' L
L ~ -.:c/l..-/t_
The foregoing resolution
February 1 999 .
is hereby approved this lJliL
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( !
\ (A//
'.._ji-U (l:f.-/.
Judi~q Valles, Mayor
Ci ty Ijf San Bernardino
23 Approved as to form and legal content:
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By:
,/1e~
Attorney
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