HomeMy WebLinkAbout1995-069
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3\13\95 320 law
RESOLUTION NO.
95-69
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE
CITY OF SAN BERNARDINO, CALIFORNIA, APPROVING
THAT CERTAIN LEASE IN AN AMOUNT NOT TO EXCEED
$6,300,000 IN CONNECTION WITH THE SALE AND
DELIVERY OF CERTIFICATES OF PARTICIPATION,
APPROVING THE FORM OF LEGAL DOCUMENTS RELATED
THERETO AND AUTHORIZING AND DIRECTING
PREPARATION, EXECUTION AND DELIVERY OF THE FINAL
FORMS THEREOF
WHEREAS, the City of San Bernardino (the "City")
is a
corporation
and a
existing pursuant to the Constitution and the laws of the State
charter city duly
created
and
11 of California; and
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WHEREAS, the San Bernardino Joint Powers Financing
14 Authority (the "Authority") is a joint powers authority organized
15 and existing under Article 1, Chapter 5, Division 7, Title 1 of
16 the Government Code (commencing with Section 6500) and has full
17 right, power and authority to purchase, sell and lease both
18 personal and real property to assist the City of San Bernardino
19 in the financing of capital projects; and
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21 WHEREAS, the City has requested that the Authority
22 assist the City in the financing of a police station to be
23 located within the City; and
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25 WHEREAS, pursuant to a Site and Facility Lease (the
26 "site and Facility Lease"), the city would lease to the Authority
27 certain property situated in the city (the "Site") and that
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1 certain facility to be constructed on the site (the "Facility");
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11 WHEREAS, the city deems it advisable to approve the
12 Lease Agreement and the transactions contemplated thereby
13 including the sale and delivery of not to exceed $6,300,000
14 certificates of Participation (1995 Police station Project) (the
15 "certificates of Participation"); and
WHEREAS, the Authority would lease the site and
Facility (the "Project") back to the City pursuant to a Lease
Agreement by and between the Authority and the city (the "Lease
Agreement"), and assign its right to receive lease payments under
the Lease Agreement to a trustee pursuant to an Assignment
greement by and between the Authority and a trustee; and
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17 WHEREAS, Miller & Schroeder Financial, Inc., as
18 prospective underwriter of the certificates of Participation (the
19 "Underwriter") has informed the City that it intends to submit an
20 offer to purchase the Certificates of Participation; and
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22 WHEREAS, the City has duly considered the
23 aforementioned transactions and documentation and seeks at this
24 time to approve said transactions and documentation in the public
25 interests of the City.
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NOW, THEREFORE, THE MAYOR AND COMMON COUNCIL OF THE
CITY OF SAN BERNARDINO, CALIFORNIA, DO HEREBY FIND, RESOLVE,
DETERMINE AND ORDER AS FOLLOWS:
Section 1. Approval of Final Forms of Site and
Facilitv Lease and Lease Aqreement. The City hereby approves the
forms of Site and Facility Lease and Lease Agreement presently on
file with the City Clerk together with any changes therein or
additions thereto as may be approved by the City Attorney or
Special Counsel. The City hereby further authorizes and directs
that the forms of Site and Facility Lease and Lease Agreement
presently on file with the City Clerk be converted into the final
forms thereof, together with such changes or modifications as
deemed necessary or desirable by the City Attorney or Special
Counsel. The Mayor, City Administrator or such other authorized
officer of the City is hereby authorized and directed to execute
and deliver, and the City Clerk is hereby authorized and directed
to attest to, the final forms of the Site and Facility Lease and
Lease Agreement when the same have been prepared and such
execution and delivery shall be deemed to be conclusive evidence
of the approval thereof. The City hereby authorizes the delivery
and performance of the Site and Facility Lease and the Lease
Agreement.
Section 2. Sale and Deliverv of the Certificates of
Participation: Approval of Form of Trust Aqreement; Authorization
and Direction of Preparation of Final Form Thereof. The City
hereby authorizes the sale and delivery of the Certificates of
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Participation under and pursuant to the Act and the trust
agreement on file with the City Clerk (the "Trust Agreement") in
the principal amount not to exceed $6,300,000 and the preparation
of certain financing documents related thereto which are
necessary to carry out the sale and delivery of the Certificates
of Participation by the City. The City hereby approves the form
of Trust Agreement as presently on file with the City Clerk with
such changes thereto as may be approved by the City Attorney or
Special Counsel and as necessary to incorporate such other terms
and conditions with respect to the Certificates of Participation
when such terms and conditions have been ascertained. The City
hereby further authorizes and directs that the form of Trust
Agreement presently on file with the City Clerk be converted into
the final form of Trust Agreement, authorizing the sale and
delivery of the Certificates of Participation together with such
changes or modifications as deemed necessary or desirable by the
City Attorney or Special Counsel. The Mayor, City Administrator
or such other authorized officer of the City is hereby authorized
and directed to execute and deliver, and the City Clerk is hereby
authorized and directed to attest to, the final form of the Trust
Agreement when the same has been prepared for and in the name of
the City, and such execution and delivery shall be deemed to be
conclusive evidence of the approval thereof. The City hereby
authorizes the delivery and performance of the Trust Agreement.
Section 3. Approval of Purchase Aqreement. The
City hereby approves the sale of the Certificates of
Participation, pursuant to the purchase agreement prepared by the
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Underwriter and on file with the City Clerk (the "Purchase
Agreement"), and the sale of the Certificates of Participation
pursuant to the Purchase Agreement is hereby approved. The City
hereby further approves the form of Purchase Agreement as
presently on file with the City Clerk, together with any changes
therein or additions thereto approved by the City Attorney or
Special Counsel, and as necessary to incorporate such other terms
and conditions when such terms and conditions have been
ascertained. The City hereby authorizes and directs the
Underwriter to cause the preparation of the final Purchase
Agreement of which such terms are a part, and the Mayor, City
Administrator or such other authorized officer of the City is
hereby authorized and directed to evidence the City's acceptance
of the offer made by the Purchase Agreement by executing and
delivering the Purchase Agreement in said form as on file with
such changes therein as the officer or the officers executing the
same may approve, such approval to be conclusively evidenced by
the execution and delivery thereof.
Section 4. Official Action. The Mayor, City
Administrator, City Clerk, City Attorney, Special Counsel 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, including
execution and delivery of any and all assignments, certificates,
requisitions, agreements, notices, consents, instruments of
conveyance, warrants and other documents, which they, or any of
them, may deem necessary or advisable in order to consummate the
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1 lawful sale and delivery of the Certificates of Participation as
2 described herein. Whenever in this Resolution any officer of the
3 City is authorized to execute or countersign any document or take
4 any action, such execution, countersigning or action may be taken
5 on behalf of such officer by any person designated by such
6 officer to act on his or her behalf in the case such officer
7 shall be absent or unavailable. The City hereby appoints its
8 Mayor and City Administrator as agents of the City for purposes
9 of executing any and all documents and instruments which any
10 officer of the City is authorized to execute hereunder.
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10 San Bernardino at a
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reqular
meeting
thereof, held on the
20th
day of
March
1995, by the following vote, to wit:
council Members:
AYES
NAYS
ABSTAIN
ABSENT
14 NEGRETE
CURLIN
15 HERNANDEZ
OBERHELMAN
16 DEVLIN
POPE-LUDLAM
17 MILLER
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~d'L
CJ.ty lerk
~
dd- ni
The foregoing resolution is hereby approved
day of March , 1995. /---t/
~~c.&t~~
Mayor of the City of
San Bernardino
this
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23 Approved as to form and legal
JAMES F. PENMAN
24 City Attorney
25 B~c..a/
26 SBEOIOI231DOC\9
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