HomeMy WebLinkAbout1992-008
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RESOLUTION NO.
92-08
RESOLUTION OF THE MAYOR AND COMMON COUNCIL
OF THE CITY OF SAN BERNARDINO, CALIFORNIA,
REGARDING THE HOLDING OF A PUBLIC HEARING IN
CONNECTION WITH THE ISSUANCE OF THE "CITY OF
SAN BERNARDINO, CALIFORNIA, INDUSTRIAL
DEVELOPMENT REVENUE REFUNDING BONDS, ISSUE
OF 1992 (LA QUINTA MOTOR INNS, INC.
PROJECT)"
WHEREAS, the city of San Bernardino, California (the
is a charter city duly organized and existing under and
9 pursuant to the provisions of the Constitution of the State of
10 California; and
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WHEREAS, pursuant to its charter powers, the city duly
13 and regularly enacted Ordinance No. 3815, as amended (the
14 "Ordinance"), to finance various types of projects, as defined in
15 the Ordinance, and to issue its special revenue bonds for the
16 purposes of paying the costs of financing such projects; and
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WHEREAS, there has previously been filed with the City
19 an Application (the "Application") pursuant to the provisions of
20 the Ordinance by La Quinta Motor Inns, Inc., San Antonio, Texas
21 (referred to herein as the "Corporation"), requesting the
22 issuance of revenue bonds (the "Bonds") for the purpose of
23 refunding the outstanding $7,000,000 City of San Bernardino,
24 California Industrial Development Revenue Bonds, Series 1982A (La
25 Quinta Motor Inns, Inc. Project) (the "1982 Bonds"), which were
26 originally issued to finance the costs and expenses of
27 construction of a 153 room hotel and associated restaurant as
28 ore particularly described in said Application; and
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1 WHEREAS, the Mayor and Common Council have previously
2 on December 16, 1991, adopted a resolution providing for the
3 publication of a Notice of Public Hearing regarding the proposed
4 issuance, sale and delivery of the Bonds which Bonds shall be
5 entitled "City of San Bernardino, California, Industrial
6 Development Revenue Refunding Bonds, Issue of 1992 (La Quinta
7 Motor Inns, Inc. Project)"; and
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9 WHEREAS, the Mayor and Common Council have caused the
10 timely publication of notice regarding the holding of the public
11 hearing in accordance with section 147(f) of the Internal Revenue
12 Code of 1986, as amended (the "Code"), in connection with the
13 proposed issuance of the Bonds.
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15 NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COMMON
16 COUNCIL OF THE CITY OF SAN BERNARDINO AS FOLLOWS:
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18 SECTION 1. The Mayor and Common Council have held
19 a public hearing in accordance with provisions of section 147(f)
20 of the Code, and have considered all testimony and comments
21 submitted in connection with the proposed issuance and delivery
22 of the Bonds.
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24 SECTION 2. The Mayor and Common Council, after
25 consideration of comments received at the public hearing, hereby
26 approve the issuance of the Bonds.
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1 SECTION 3. It is the purpose and intent of the
2 Mayor and Common Council that this Resolution constitute approval
3 by the applicable elected representative in accordance with the
4 terms of Section 147(f) of the Code.
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1 RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN
BERNARDINO, CALIFORNIA, REGARDING THE HOLDING OF A PUBLIC HEARING
2 IN CONNECTION WITH THE ISSUANCE OF THE "CITY OF SAN BERNARDINO,
CALIFORNIA, INDUSTRIAL DEVELOPMENT REVENUE REFUNDING BONDS, ISSUE
3 OF 1992 (LA QUINTA MOTOR INNS, INC. PROJECT)"
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SECTION 4.
5 its adoption.
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This Resolution shall take effect upon
I HEREBY CERTIFY that the foregoing Resolution was duly
adopted by the Mayor and Common Council of the city of
San Bernardino at a reaular meeting
thereof, held on the 6th day of Januarv
1992, by the following vote, to wit:
9 Council Members:
10 ESTRADA
REILLY
11 HERNANDEZ
MAUDSLEY
12 MINOR
POPE-LUDLAM
13 MILLER
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16 day of
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AYES
NAYS
ABSTAIN
ABSENT
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x
9th
Mayo
San
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Approved as to form and legal content:
20 JAMES F. PENMAN
city Attorney
21 BY:~)
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