HomeMy WebLinkAboutCDC/1999-03
See Also 1999~30
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RESOLUTION NO. CDC/1999-3
4 RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE
REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO AUTHORIZING
5 AMENDMENT TO BOND DOCUMENTS FOR THE $6,300,000 CERTIFICATES OF
PARTICIPATION (1995 POLICE STATION PROJECT)
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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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15 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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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 delivery of certain Certificates of Participation entitled
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CDC/1999-3
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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
WHEREAS, the Site and Facility Lease, the Lease Agreement
and the Assignment Agreement (collectively the "Bond Documents")
each contain legal descriptions of the property which is the
subject of the Site and Facility Lease and the Lease Agreement; and
WHEREAS, the legal description of
inadvertently included a parcel adj acent to the
building and the parking structure; and
the property
police station
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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CDC/1999-3
1 NOW, THEREFORE, THE COMMUNITY DEVELOPMENT COMMISSION,
2 ACTING ON BEHALF OF THE REDEVELOPMENT AGENCY OF THE CITY OF
3 SAN BERNARDINO, DOES HEREBY RESOLVE, DETERMINE AND ORDER AS
4 FOLLOWS:
5 Section 1. Reci tals. The Recitals contained herein
6 are true and correct and are incorporated herein by reference.
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8 Section 2. Approval of Final Form of Bond Documents.
9 The Agency hereby approves the form of Bond Documents presently on
10 file with the Secretary together with any changes therein or
11 additions thereto as may be approved by the Chairman or Executive
12 Director. The Agency hereby further authorizes and directs that
13 the form of Bond Documents presently on file with the Secretary be
14 converted into the final form thereof, together with such changes
15 or modifications as deemed necessary or desirable by the Chairman
16 or Executive Director of the Agency upon the recommendation of Bond
17 Counsel. The Chairman, Executive Director or such other authorized
18 officer of the Agency is hereby authorized and directed to execute
19 and deliver, and the Secretary or Assistant Secretary is hereby
20 authorized and directed to attest to, the final forms of the Bond
21 Documents when the same have been prepared and such execution and
22 delivery shall be deemed to be conclusive evidence of the approval
23 thereof.
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25 Section 3. Official Action. The Chairman, Executive
26 Director, Secretary, Bond Counsel and any and all other officers of
27 the Agency are hereby authorized and directed, for and in the name
28 and on behalf of the Agency, to do any and all things and take any
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CDC/1999-3.
1 and all actions, necessary to cause the amendments to the Bond
2 Documents and the recording of the corrected legal descriptions
3 thereto.
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CDc/1999-3
1 RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE
REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO AUTHORIZING
2 AMENDMENT TO BOND DOCUMENTS FOR THE $6,300,000 CERTIFICATES OF
PARTICIPATION (1995 POLICE STATION PROJECT)
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Section 4.
This Resolution shall take effect upon the
5 date of its adoption.
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7 I HEREBY CERTIFY that the foregoing Resolution was duly
8 adopted by the Community Development Commission of the City of
9 San Bernardino at an adjourned regular meeting thereof, held on the
10 15th day of February, 1999, by the following vote, to wit:
11 Commission Members: AYES NAYS ABSTAIN ABSENT
ESTRADA --X-
12 LIEN --X-
McGINNIS --X-
13 SCHNETZ --X-
DEVLIN --X-
14 ANDERSON --X-
MILLER -X-
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The foregoing resolution is hereby approved this \~
day of February, 1999. ---\
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//' (I -
U--t.-L, '
Judi ,Valles, Chairperson
Comm ~ity Development Commission
of the City of San Bernardino
By:
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