HomeMy WebLinkAbout1993-428
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RESOLUTION NO.
93-428
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY
OF SAN BERNARDINO, AUTHORIZING THE LEASE OF CERTAIN
PROPERTY FROM THE SAN BERNARDINO JOINT POWERS FINANCING
AUTHORITY, AUTHORIZING THE FORM OF CERTAIN LEGAL
DOCUMENTS RELATED THERETO AND AUTHORIZING AND DIRECTING
THE PREPARATION, EXECUTION AND DELIVERY OF THE FINAL
FORMS THEREOF
WHEREAS, the City of San Bernardino (the "City") is a
charter city organized and existing under the Constitution and
laws of the State of California; and
WHEREAS, the San Bernardino Joint Powers Financing
Authority (the "Authority") is a joint powers authority, a public
body corporate and politic, duly organized and existing pursuant
to Government Code Section 6500, et sea. (the "Law"); and
WHEREAS, the Authority and the city have agreed to
enter into a lease purchase agreement, a form of which is on file
with the City Clerk (the "Lease Agreement") pursuant to which the
Authority will lease the site and Improvements (collectively, the
"Project") (each as described on Exhibit "A" hereto) to the city;
and
WHEREAS, the Authority shall agree to assign its right
to receive said lease payments to a trustee (the "Trustee"), and
for and in consideration of such assignment, the Trustee shall
deliver
the
not
$6,120,000
to
exceed
"certificates
of
Participation (1993 Police station Project) Evidencing the Direct
Undivided Fractional Interest of the Owner Thereof in Lease
Payments to be Made by the City of San Bernardino, California, as
Rental for a Certain Project Pursuant to a Lease Agreement with
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the San Bernardino Joint Powers Financing Authority" (the
"Certificates"), on behalf of the City; and
WHEREAS, Miller & Schroeder Financial, Inc., as
prospective underwriter of the Certificates (the "underwriter")
has informed the Authority that it intends to submit an offer to
purchase the Certificates and shall cause to be prepared a
Preliminary Official Statement and an Official Statement relating
to such Certificates as may be necessary in the sale and
marketing of the Certificates, a form of which Preliminary
Official statement is presently on file with the City Clerk (the
"Preliminary Official Statement"); and
WHEREAS, the City has determined to approve the lease
under the Lease Agreement and has duly considered such
transaction and seeks at this time to approve said transaction
and documents in the public interests of the City.
NOW, THEREFORE, THE MAYOR AND COMMON COUNCIL OF THE
CITY OF SAN BERNARDINO DO HEREBY RESOLVE, DETERMINE AND ORDER AS
FOLLOWS:
Section 1. Determinations. The City hereby finds
and determines that provision for the sale and delivery of the
Certificates will result in significant public benefits.
Section 2. Aooroval of Final Form of Lease
Aareement. The City hereby authorizes and approves the form of
Lease Agreement presently on file with the City Clerk together
ith any changes therein or additions thereto as may be approved
the Mayor when such terms and conditions have been
scertained. The City hereby further authorizes and directs that
he form of Lease Agreement presently on file with the city Clerk
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be converted into the final form of Lease Agreement, together
with such changes or modifications as deemed necessary or
desirable by the Mayor upon the recommendation of Special
Counsel. The Mayor 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 Lease Agreement when the same has 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 Lease Agreement.
Section 3. Sale and Deliverv of the Certificates:
Approval of Form of Trust Aqreement: Authorization and Direction
of Preparation of Final Forms Thereof. The City hereby
authorizes the sale and delivery of the Certificates under and
pursuant to the Law, the Government Code and the trust agreement
on file with the City Clerk (the "Trust Agreement") in the
principal amount not to exceed $6,120,000 and the preparation of
certain financing documents related thereto which are necessary
to carry out the sale and delivery of the Certificates. 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 Mayor and as necessary to incorporate such other terms and
conditions with respect to the Certificates when such terms and
conditions have been ascertained. The city hereby further
authorizes and directs that the form of Trust Agreement presently
In file with the City Clerk be converted into the final form of
rrust Agreement, together with such changes or modifications as
u.eemed necessary or desirable by the Mayor upon the
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recommendation of Special Counsel. The Mayor 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 4. Approval of Final Form of Aqencv
Aqreement. The City hereby approves the form of Agency Agreement
presently on file with the City Clerk (the "Agency Agreement")
together with any changes therein or additions thereto as may be
approved by the Mayor when such terms and conditions have been
ascertained. The City hereby further authorizes and directs that
the form of Agency Agreement presently on file with the City
Clerk be converted into the final form of Agency Agreement,
together with such changes or modifications as deemed necessary
or desirable by the Mayor upon the recommendation of Special
Counsel. The Mayor 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 Agency Agreement when the same has 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 Agency Agreement.
Section 5. Approval of Final Form of Purchase
ontract. The City hereby approves the form of Purchase Contract
resently to be prepared by the Underwriter and filed with the
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1 City Clerk (the "Purchase Contract") together with any changes or
2 additions thereto as may be approved by the Mayor when such terms
3 and conditions have been ascertained. The city hereby further
4 authorizes and directs that the form of Purchase Contract be
5 converted into the final form of Purchase Contract, together with
6 such changes or modifications as deemed necessary or desirable by
7 the Mayor upon the recommendation of Special Counsel. The Mayor
8 or such other authorized officer of the city is hereby authorized
9 and directed to execute and deliver, and the City Clerk is hereby
10 authorized and directed to attest to, the final form of the
11 Purchase Contract when the same has been prepared and such
12 execution and delivery shall be deemed to be conclusive evidence
13 of the approval thereof. The city hereby authorizes the delivery
14 and performance of the Purchase Contract.
15 Section 6. Sales and Use Tax Pledqe. In accordance
16 with the provisions of Section 37351.5 of the California
17 Government Code, the City hereby elects to guarantee payment
18 under the Lease Agreement from moneys credited to the Motor
19 Vehicle License Fee Account in the Transportation Tax Fund to
20 which the city is entitled under Chapter 5 (commencing with
21 section 11001) of Part 5 of Division 2 of the California Revenue
22 and Taxation Code. The Mayor or the city Administrator shall,
23 prior to execution of the Lease Agreement, provide notice to the
24 State Controller of such election, which notice shall include a
25 schedule for payments to be made by the city under the Lease
26 Agreement and shall identify the Trustee as the trustee selected
27 by the city for the purposes of such section. In the event that,
28 for any reason, the funds otherwise available to the City will
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~.J-4Zll
1 not be sufficient to make any payment under the Lease Agreement
2 at the time that payment is required, the Mayor or the City
3 Administrator shall so notify the Trustee which shall immediately
4 communicate that information to the affected owners of the
5 certificates of Participation and to the state Controller.
6 section 7. Official Action. The Mayor, the City
7 Clerk, Special Counsel and any and all other officers or agents
8 of the City are hereby authorized and directed, for and in the
9 name and on behalf of the City, to do any and all things and take
10 any and all actions, including execution and delivery of any and
11 all assignments, certificates, requisitions, agreements, notices,
12 consents, instruments of conveyance, warrants and other
13 documents, which they, or any of them, may deem necessary or
14 advisable in order to consummate the lawful delivery and sale of
15 the Certificates as described herein. Whenever in this
16 Resolution any officer of the City is authorized to execute or
17 countersign any document or take any action, such execution,
18 countersigning or action may be taken on behalf of such officer
19 by any person designated by such officer to act on his or her
20 behalf in the case such officer shall be absent or unavailable.
21 The City hereby appoints the Mayor as agent of the City for
22 purposes of executing any and all documents and instruments which
23 any officer of the city is authorized to execute hereunder.
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RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN
BERNARDINO, AUTHORIZING THE LEASE OF CERTAIN PROPERTY FROM THE
SAN BERNARDINO JOINT POWERS FINANCING AUTHORITY, AUTHORIZING THE
FORM OF CERTAIN LEGAL DOCUMENTS RELATED THERETO AND AUTHORIZING
AND DIRECTING THE PREPARATION, EXECUTION AND DELIVERY OF THE
FINAL FORMS THEREOF
section 9.
Effective Date.
This Resolution shall
take effect from and after the date of its passage and adoption.
I HEREBY CERTIFY that the foregoing Resolution was duly
adopted by the Mayor and Common Council of the City of
San Bernardino at a
reqular
meeting
thereof, held on the 15th
day of
November
1993, by the following vote, to wit:
Council Members:
AYES
NAYS
ABSTAIN
ABSENT
NEGRETE
CURLIN
HERNANDEZ
OBERHELMAN
DEVLIN
POPE-LUDLAM
MILLER
x
x
x
x
x
---'L-
---'L-
----zA?~ ~
'Gity Clerk
\"?,~~.
The foregoing resolution is
day of Nnvpmh"r , 1993.
approved
this
hereby
.)-.' ,
.........< .. !.'
~/ "-~ '/ ", ./..!./ " .. "/1
(/1 '-: / i~, ,;._~ .,
Mayor of the City of
San Bernardino
Approved as to form and legal content:
JAMES F. PENMAN
City Attorney
By:
SBEQ\Ol201DOC\9
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MAYOR AND COMMON COUNCIL OF THE
CITY OF SAN BERNARDINO, CALIFORNIA
AGENDA
November 15, 1993
Item: RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY
OF SAN BERNARDINO, AUTHORIZING THE LEASE OF CERTAIN
PROPERTY FROM THE SAN BERNARDINO JOINT POWERS FINANCING
AUTHORITY, AUTHORIZING THE FORM OF CERTAIN LEGAL
DOCUMENTS RELATED THERETO AND AUTHORIZING AND DIRECTING
THE PREPARATION, EXECUTION AND DELIVERY OF THE FINAL
FORMS THEREOF
Action to
be Taken: Adopt Resolution.
certified copy of Resolution to be returned to Sabo & Green, A
Professional corporation.
SBEO/01201D0C/9
11/16/93 1120 Iw