HomeMy WebLinkAboutRS1A-Economic Development Agency
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4 A RESOLUTION OF THE SAN BERNARDINO JOINT POWERS FINANCING AUTHORITY
AUTHORIZING THE ISSUANCE OF SAN BERNARDINO JOINT POWERS FINANCING
5 AUTHORITY SUBORDINATED TAX ALLOCATION REFUNDING BONDS, SERIES 2002A
IN A TOTAL AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $33,000,000,
6 APPROVING THE FORM OF CERTAIN LEGAL DOCUMENTS RELATED THERETO AND
AUTHORIZING AND DIRECTING THEIR PREPARATION, EXECUTION AND DELIVERY
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RESOLUTION NO.
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WHEREAS, the City of San Bernardino, California (the "City") is a municipal
corporation and charter city, duly organized and existing pursuant to the provisions of the constitution
of the State of California; and
WHEREAS, the Redevelopment Agency of the City of San Bernardino is a public body,
corporate and politic (the "Agency") duly organized and existing pursuant to the California Community
Redevelopment Law (Health and Safety Code Section 33000 ~ ~.) (the "CRL"); and
WHEREAS, the City and the Agency have heretofore entered into a Joint Exercise of
Powers Agreement establishing the San Bernardino Joint Powers Financing Authority (the
"Authority") for the purpose of issuing bonds, the proceeds of which may be loaned to any of its
members to finance public capital improvements; and
WHEREAS, the Authority has heretofore issued its Tax Allocation Refunding Bonds,
Series 1995A (the "Series 1995A Bonds" or the "Prior Bonds") and its Subordinated Tax Allocation
Refunding Bonds, Series 1995B (the "Series 1995B Bonds") (the Series 1995A Bonds and the Series
1995B Bonds being hereinafter from time to time refen'ed to as the" 1995 Bonds"); and
WHEREAS, the 1995 Bonds were issued in order to enable the Authority to make seven
(7) loans to the Agency to refund the Authority's outstanding $7,120,000 Tax Allocation Bonds, 1990
Series B (Tri-City Redevelopment Project); $5,200,000 Tax Allocation Refunding Bonds (Central City
North Redevelopment Project Area, Issue of 1988; $3,025,000 Tax Allocation Bonds (Central City
North Redevelopment Project Area), Issue of 1988; $12,800,000 Tax Allocation Refunding Bonds,
1989 Series A (State College Project No.4); $5,830,000 Tax Allocation Bonds 1990 Series D (State
College Project No.4); $9,575,000 Tax Allocation Bonds, Issue of 1994 (Police Station Financing
Project); $6,725,000 Tax Allocation Refunding Bonds, Issue of 1993 (Southeast Industrial Park
Redevelopment Project Area); $5,130,000 Tax Allocation Bonds, 1990 Series F (Southeast Industrial
Park Redevelopment Project Area); $2,940,000 Tax Allocation Bonds, 1990 Series E (Northwest
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Redevelopment Project); $3,400,000 Tax Allocation Bonds, 1990 Series A (South Valle
Redevelopment Project) and $1,730,000 Tax Allocation Bonds, 1990 Series C (Uptown
Redevelopment Project), as well as the Agency's outstanding $11,410,000 Redevelopment Agency of
the City of San Bernardino, Southeast Industrial Park Redevelopment Project Area, Tax Allocation
Refunding Bonds, Issue of 1988 and $1,525,000 Redevelopment Agency of the City of San Bernardino
Southeast Industrial Park Redevelopment Project Area, Tax Allocation Bonds, Issue of 1988, and to
finance certain redevelopment activities; and
WHEREAS, the 1995 Bonds are secured by the tax increment revenues from each
respective redevelopment area enumerated above, including the State College Project No.4, the
Southeast Industrial Park, the Northwest Redevelopment Project Area, the Tri-City Redevelopment
Project Area, the Uptown Redevelopment Project Area, the South Valle Redevelopment Project Area
and the Central City North Redevelopment Project Area (collectively, the "Project Areas"); and
WHEREAS, the Agency has requested that the Authority issue, and the Authority desires
to assist the Agency by the issuance of, a total aggregate principal amount of not to exceed
$33,000,000 San Bernardino Joint Powers Financing Authority Subordinate Tax Allocation Bonds,
Series 2002A (the "Bonds") which shall be subordinate to the 1995 Series A Bonds; and
WHEREAS, the proceeds of the Bonds will be used to make certain loans to the Agency
to (i) provide for costs of issuance of, and reserve funds for, the Bonds, (ii) refund the Series 1995B
Bonds, and (iii) provide monies for certain redevelopment projects and activities within the Project
Areas and certain capital improvement projects outside of the Project Areas or within another Project
Area which are of benefit to all or anyone of the Project Areas, as may be authorized pursuant to the
CRL and subject to such actions and findings as may be required to be taken hereafter by the Authority,
Mayor and Common Council of the City and the Agency; and
WHEREAS, the Bonds shall be issued pursuant to the Marks-Roos Local Bond Pooling
Act of 1985, codified at California Government Code Section 6584 ~ gg. (the "Act"); and
WHEREAS, the Bonds shall be issued pursuant to an Indenture of Trust by and between
the Authority and U.S. Bank N.A., as trustee, in form similar to that currently on file with the
Secretary of the Agency (the "Indenture"); and
WHEREAS, Kinsell, Newcomb & De Dios, Inc., as prospective purchaser of the Bonds
(the "Original Purchaser"), has informed the Authority that it intends to submit an offer to purchase the
Bonds and shall cause to be prepared a Preliminary Official Statement and an Official Statement, a
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form of which Preliminary Official Statement is presently on file with the Secretary of the Authority;
and
WHEREAS, the governing board of the Authority (the "Board") has duly considered the
terms of such transactions as contemplated herein and find that approval of the issuance of the Bonds at
this time is in the best interests of the Authority, Agency and City.
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NOW, THEREFORE, THE SAN BERNARDINO JOINT POWERS FINANCING AUTHORITY
DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS:
Section 1. Findings and Determinations. Pursuant to the Act, the Board hereby finds and
determines that issuance of the Bonds will result in savings in effective interest rates, Bond
underwriting or Bond issuance costs and shall therefore result in significant public benefits to its
members within the contemplation of Government Code Section 6586.
Section 2. Issuance of the Bonds. The Board hereby authorizes the issuance of the Bonds in
the principal amount of not to exceed $33,000,000 as junior lien bonds. The Board further authorizes
preparation of the financing documents necessary to issue the Bonds pursuant to the Indenture.
Section 3. Approval of Final Form of Indenture. The Board hereby approves the form of
Indenture on file with the Secretary of the Authority with such changes as may be approved by the
Chair of the Authority and as necessary to incorporate the principal amount, interest rate, maturity and
redemption dates and such other terms and conditions with respect to the Bonds when such terms and
conditions have been ascertained. The Board hereby further authorizes and directs the conversion of
the Indenture filed with the Secretary into the final form of Indenture, together with such changes or
modifications as deemed necessary or desirable by the Chair or the Executive Director upon the
recommendation of Bond Counsel.
The Chair and the Executive Director or such other authorized officer of the Authority is hereby
authorized and directed to execute and deliver, and the Secretary or Assistant Secretary is hereby
authorized and directed to attest to the final form of the Indenture when the same has been prepared for
and in the name of the Authority, and such execution and delivery shall be deemed as conclusive
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evidence of the approval thereof. The Board hereby authorizes delivery and performance of the
Indenture.
Section 4. Approval of Final Forms of Loan Agreements. The Board hereby approves the form
of Loan Agreements currently on file with the Secretary, together with any changes therein or additions
thereto as may be approved by the Chair or the Executive Director and as necessary to incorporate the
principal amount, interest rate, maturity, prepayment dates and such other te~s and conditions when
such terms and conditions have been ascertained. The Board hereby further authorizes and directs the
conversion of the form of Loan Agreements into the final form thereof, as necessary, for each of the
individual Project Areas, together with such changes or modifications as deemed necessary or desirable
by the Chair or the Executive Director upon the recommendation of Bond Counsel. The Chair or the
Executive Director or such other authorized officer of the Authority is hereby authorized and directed
to execute and deliver, and the Secretary or Assistant Secretary is hereby authorized and directed to
attest to the final form of the Loan Agreements. The Authority further authorizes and directs Authority
Staff together with the Original Purchaser to obtain bids or proposals for any investment of funds to be
held and maintained either within the Loan Agreements or by the Agency or the Trustee pursuant to the
Indenture, including the investment of the reserve funds, any other debt service funds.
Section 5. Sale of the Bonds. The Board hereby approves the sale of the Bonds by negotiated
purchase with the Purchaser, pursuant to that certain Bond Purchase Contract as presently on file with
the Secretary, and the sale of the Bonds pursuant to the Bond Purchase Contract is hereby approved.
The Board hereby further authorizes the form of Bond Purchase Contract as presently on file with the
Secretary, together with any changes therein or additions thereto approved by the Chair or an
authorized representative of the Chair, and as necessary to incorporate the principal amount, the
interest rate, the purchase price and such other terms and conditions with respect to the Bonds, when
such terms and conditions have been ascertained. The Board hereby authorizes and directs the
Purchaser to cause the preparation of the final Bond Purchase Contract of which such terms are a part,
and the Chair or Executive Director or such other authorized officer of the Authority is hereby
authorized and directed to evidence the Authority's acceptance of the offer made by the Bond Purchase
Contract by executing and delivering the Bond Purchase Contract 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.
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Section 6. Official Statement. The Board hereby approves the form of the Preliminary
Official Statement (the "Preliminary Official Statement") presently on file with the Secretary. The
Board hereby authorizes and directs that the Preliminary Official Statement be converted to the final
Official Statement together with such changes or modifications as deemed desirable or necessary in the
sale and marketing of the Bonds and as approved by the Chair or Executive Director upon the
recommendation of Bond Counsel and the Purchaser. The Board hereby authorizes distribution of the
Preliminary Official Statement and the final Official Statement by the Purchaser when the same have
been prepared. The Chair is hereby authorized and directed to execute the final form of the Official
Statement in the name and on behalf.of the Authority and to deliver the same to the Purchaser upon
execution thereof, together with the changes or modifications approved by the Chair and the Executive
Director. Execution of the final Official Statement shall be conclusive evidence of approval thereof,
including any such changes and additions.
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Section 7. Official Action. The Chair, the Executive Director, Secretary, Authority Counsel,
Bond Counsel and any and all other officers of the Authority are hereby authorized and directed, on
behalf of the Authority, to do any and all things and take actions, including execution and deliver of
any and all assignments, certificates, requisitions, agreements, notices, consents, instruments of
conveyance, warrants and other documents as may be approved by Bond Counsel and as may be
reasonably necessary or required to consummate the lawful issuance and sale of the Bonds, as
described herein, including distribution of the Preliminary Official Statement to any prospective
purchasers when the same shall become available for distribution. Whenever this Resolution
authorizes any officer of the Authority to execute or countersign any document or take any action, such
execution, countersigning or action may be taken on behalf of such officer by any person designated by
such officer to act on his or her behalf if such officer shall be absent or unavailable.
The Board hereby authorizes the payment of all costs of issuance in connection with the issuance
of the Bonds, including all legal fees of Bond Counsel, special tax counsel, Bond printing, Trustee fees,
and Purchaser's counsel. Bills for all such items shall be submitted to and approved by the Executive
Director of the Agency.
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A RESOLUTION OF THE SAN BERNARDINO JOINT POWERS FINANCING AUTHORITY
AUTHORIZING THE ISSUANCE OF SAN BERNARDINO JOINT POWERS FINANCING
2 AUTHORITY TAX ALLOCATION BONDS, SERIES 2002A IN A TOTAL AGGREGATE
PRINCIPAL AMOUNT NOT TO EXCEED $33,000,000, APPROVING THE FORM OF CERTAIN
LEGAL DOCUMENTS RELATED THERETO AND AUTHORIZING AND DIRECTING THEIR
PREPARATION, EXECUTION AND DELIVERY
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Section 9.
Effective Date: Subiect to Agencv Aooroval. This Resolution shall take effect
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upon the date of its adoption. This Resolution shall be subject, in all respects, to the approval by the Agency
of the execution and delivery of the Loan Agreement.
1 HEREBY CERTIFY that the foregoing Resolution was duly adopted by the San Bernardino Joint
meeting thereof, held on the _ day of
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Secretary
The foregoing Resolution is hereby approved this _ day of
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JUDITH V ALLES, Chair
San Bernardino Joint Powers Financing Authority
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STATE OF CALIFORNIA )
2 COUNTY OF SAN BERNARDINO) ss
CITY OF SAN BERNARDINO )
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I, , Secretary of the San Bernardino Joint Powers Financing
Authority, DO HEREBY CERTIFY that the foregoing and attached copy of San Bernardino Joint
Powers Financing Authority Resolution No. is a full, true and correct copy of that now on
file in this office.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the
Joint Powers Financing Authority this day of , 2002.
Secretary
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4 A RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY
OF SAN BERNARDINO AUTHORIZING ON BEHALF OF THE REDEVELOPMENT
5 AGENCY OF THE CITY OF SAN BERNARDINO, THE BORROWING OF FUNDS FROM
THE SAN BERNARDINO JOINT POWERS FINANCING AUTHORITY IN A TOTAL
6 AGGREGATE PRINCIPAL AMOUNT OF NOT TO EXCEED $33,000,000, AUTHORIZING
THE FORM OF CERTAIN LEGAL DOCUMENTS RELATED THERETO AND
7 AUTHORIZING AND DIRECTING THEIR PREPARATION, EXECUTION AND
DELIVERY
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RESOLUTION NO. -:.. J
WHEREAS, the City of San Bernardino, California (the "City") is a municipal
corporation and charter city, duly organized and existing pursuant to the provisions of the constitution
of the State of California; and
WHEREAS, the Community Development Commission of the City of San Bernardino
(the "Commission") is the governing body of the Redevelopment Agency of the City of San
Bernardino (the "Agency"), a public body, corporate and politic, organized and existing pursuant to
the California Community Redevelopment Law (Health and Safety Code Section 33000, et seq.) (the
"CRL"); and
WHEREAS, the City and the Agency have heretofore entered into a Joint Exercise of
Powers Agreement establishing the San Bernardino Joint Powers Financing Authority (the
"Authority") for the purpose of issuing bonds, the proceeds of which may be loaned to any of its
members to finance public capital improvements; and
WHEREAS, the Authority has heretofore issued its Tax Allocation Refunding Bonds,
Series 1995A (the "Series 1995A Bonds" or the "Prior Bonds") and its Subordinated Tax Allocation
Refunding Bonds, Series 1995B (the "Series 1995B Bonds" (the Series 1995A Bonds and the Series
1995B Bonds being hereinafter from time to time referred to collectively as the" 1995 Bonds"); and
WHEREAS, the 1995 Bonds were issued in order to enable the Authority to make seven
(7) loans to the Agency to refund the Authority's outstanding $7,120,000 Tax Allocation Bonds, 1990
Series B (Tri-City Redevelopment Project); $5,200,000 Tax Allocation Refunding Bonds (Central
City North Redevelopment Project Area, Issue of 1988; $3,025,000 Tax Allocation Bonds (Central
City North Redevelopment Project Area), Issue of 1988; $12,800,000 Tax Allocation Refunding
Bonds, 1989 Series A (State College Project No.4); $5,830,000 Tax Allocation Bonds 1990 Series D
SBEO/0001/DOC/4127
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(State College Project No.4); $9,575,000 Tax Allocation Bonds, Issue of 1994 (Police Station
Financing Project); $6,725,000 Tax Allocation Refunding Bonds, Issue of 1993 (Southeast Industrial
Park Redevelopment Project Area); $5,130,000 Tax Allocation Bonds, 1990 Series F (Southeast
Industrial Park Redevelopment Project Area); $2,940,000 Tax Allocation Bonds, 1990 Series E
(Northwest Redevelopment Project); $3,400,000 Tax Allocation Bonds, 1990 Series A (South Valle
Redevelopment Project) and $1,730,000 Tax Allocation Bonds, 1990 Series C (Uptown
Redevelopment Project), as well as the Agency's outstanding $11,410,000 Redevelopment Agency of
the City of San Bernardino, Southeast Industrial Park Redevelopment Project Area, Tax Allocation
Refunding Bonds, Issue of 1988 and S 1,525,000 Redevelopment Agency of the City of San
Bernardino Southeast Industrial Park Redevelopment Project Area, Tax Allocation Bonds, Issue of
1988, and to finance certain redevelopment activities, pay costs of issuance of the 1995 Bonds and
establish certain reserve funds; and
WHEREAS, the 1995 Bonds are secured by the tax increment revenues from each
respective redevelopment area enumerated above, including the State College Project No.4, the
Southeast Industrial Park, the Northwest Redevelopment Project Area, the Tri-City Redevelopment
Project Area, the Uptown Redevelopment Project Area, the South Valle Redevelopment Project Area
and the Central City North Redevelopment Project Area (collectively, the "Project Areas"); and
WHEREAS, the Agency has requested that the Authority issue, and the Authority desires
to assist the Agency by the issuance of, a total aggregate principal amount of not to exceed
$33,000,000 San Bernardino Joint Powers Financing Authority Subordinate Tax Allocation
Refunding Bonds, Series 2002A (the "Bonds") which shall be subordinate to the Series 1995A
Bonds; and
WHEREAS, the proceeds of the Bonds will be used to make certain loans to the Agency
to (i) provide for costs of issuance of, and reserve funds for, the Bonds, (ii) refund the Series 1995B
Bonds, and (iii) provide monies for certain redevelopment projects and activities within the Project
Areas and certain capital improvement projects outside of the Project Areas or within another Project
Area which are of benefit to all or anyone of the Project Areas, as may be authorized pursuant to the
CRL and subject to such actions and findings as may be required to be taken hereafter by the
Authority, Mayor and Common Council of the City and the Agency; and
WHEREAS, the Bonds shall be issued pursuant to the Marks-Roos Local Bond Pooling
Act of 1985, codified at California Government Code Section 6584 ~~. (the "Act"); and
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WHEREAS, the Bonds shall be issued pursuant to an Indenture of Trust by and between
the Authority and U.S. Bank N.A., as trustee, in fonn similar to that currently on file with the
Secretary of the Agency (the "Indenture"); and
WHEREAS, Kinsell, Newcomb & De Dios, Inc., as prospective purchaser of the Bonds
(the "Original Purchaser"), has infonned the Authority that it intends to submit an offer to purchase
the Bonds and shall cause to be prepared a Preliminary Official Statement and an Official Statement,
a fonn of which Preliminary Official Statement is presently on file with the Secretary of the
Authority; and
WHEREAS, the Commission has duly considered the tenns of such transactions as
contemplated herein and find that approval of the issuance of the Bonds at this time is in the best
interests of the City.
NOW, THEREFORE, THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY
OF SAN BERNARDINO DOES HEREBY RESOLVE, DETERMINE AND ORDER AS
FOLLOWS:
Section I. Findings and Detenninations. The Commission hereby finds and detennines
that issuance of the Bonds by the Authority will result in significant public benefits to the Agency,
namely favorable interest rates, Bond preparation, Bond underwriting or Bond issuance costs.
Section 2. Authorization of Loans: Aooroval of Final Fonns of Loan Agreements. The
Commission hereby authorizes and approves the Loans to be made to the Agency by the Authority
pursuant to and in accordance with the tenns of the Loan Agreements with respect to each of the
Project Areas, for the purpose of paying certain costs of issuance and funding required debt service
reserves and undertaking certain redevelopment projects within the Project Areas and certain capital
improvement projects outside of the Project Areas or within another Project Area which are of benefit
to all or anyone of the Project Areas, as may be authorized pursuant to the CRL and subject to such
actions and findings as may be required to be taken hereafter by the Authority, Mayor and Common
Council of the City and the Agency. The Community Development Commission hereby further
approves the fonn of Loan Agreements substantially in the fonn presently on file with the Secretary
of the Agency, together with any changes therein or additions thereto as may be approved by the
Chair or the Executive Director and as necessary to incorporate the principal amount, interest rate,
maturity and prepayment dates and such other tenns and conditions when such tenns and conditions
have been ascertained. The Community Redevelopment Commission hereby further authorizes and
directs that the fonn of the Loan Agreements as on file be converted into the final fonn of the Loan
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Agreements with respect to each of the Project Areas. The Chair, Executive Director or such other
members or representatives of the Commission are hereby authorized and directed to execute and
deliver, and the Secretary or Assistant Secretary is hereby authorized and directed to attest to and
affix the seal of the Agency to, the final forms of the Loan Agreements for each of the Project Areas
when the same has been prepared for and in the name and on behalf of the Agency, and such
execution and delivery shall be deemed to be conclusive evidence of the approval thereof. The
Community Development Commission hereby authorizes the delivery and performance of the Loan
Agreements. The Community Development Commission further authorizes and directs Agency Staff
together with the Original Purchaser to obtain bids or proposals for any investment of funds to be
held and maintained either within the Loan Agreements or by the Agency or held and maintained by
the Trustee pursuant to the Indenture of Trust dated as of March I, 2002, by and between the
Authority and U.S. Bank Trust N. A., as trustee (the "Trustee") and any other debt service funds.
Section 3. Approval of Final Form of Continuing Disclosure Agreement. The Community
Development Commission hereby approves the form of Continuing Disclosure Agreement in the
form on file with the Secretary, together with any changes therein or additions thereto as may be
approved by the Chair or the Executive Director. The Community Development Commission hereby
further authorizes and directs the conversion of the form of Continuing Disclosure Agreement into
the final form thereof, together with such changes or modifications as deemed necessary or desirable
by the Chair or the Executive Director upon the recommendation of Bond Counsel. The Chair or the
Executive Director or such other authorized officer of the Authority is hereby authorized and directed
to execute and deliver, and the Secretary or Assistant Secretary is hereby authorized and directed to
attest to, the final form of the Continuing Disclosure Agreement.
Section 4. Official Action. The Chair, Vice-Chair, Secretary, Assistant Secretary, Executive
Director, Agency Special Counsel and any and all other members and officers of the Agency are
hereby authorized and directed, on behalf of the Agency, to do any and all things and to take any and
all actions, including execution and delivery of assignments, certificates, requisitions, agreements,
notices, consents, instruments of conveyance, warrants, Bond closing documents and other
documents as may be approved by Bond Counsel and as may be reasonably necessary or advisable in
connection with execution and delivery of the Loan Agreements and the consummation of the
transactions described herein and therein.
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A RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY
OF SAN BERNARDINO AUTHORIZING ON BEHALF OF THE REDEVELOPMENT
AGENCY OF THE CITY OF SAN BERNARDINO, THE BORROWING OF FUNDS FROM
THE SAN BERNARDINO JOINT POWERS FINANCING AUTHORITY IN A TOTAL
AGGREGATE PRINCIPAL AMOUNT OF NOT TO EXCEED $33,000,000, AUTHORIZING
THE FORM OF CERTAIN LEGAL DOCUMENTS RELATED THERETO AND
AUTHORIZING AND DIRECTING THEIR PREPARATION, EXECUTION AND
DELIVERY
Section 4.
Effective Date. This Resolution shall take effect upon the date of its passage and
adoption.
I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Community
Development Commission of the City of San Bernardino at a meeting thereof, held on
the day of ,2002, by the following vote, to wit:
Commission Members
ABST AIN
ABSENT
NAYS
AYES
ESTRADA
LIEN
MCGINNIS
DERRY
SUAREZ
ANDERSON
McCAMMACK
Secretary
The foregoing Resolution is hereby approved this _ day of
,2002.
Judith Valles, Chair
Community Development Commission
ofthe City of San Bernardino
By:
Agency Counsel
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STATE OF CALIFORNIA )
COUNTY OF SAN BERNARDINO
CITY OF SAN BERNARDINO )
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I, Secretary of the Community Development Commission of
the City of San Bernardino, DO HEREBY CERTIFY that the foregoing and attached copy of
Community Development Commission of the City of San Bernardino Resolution No. is a
full, true and correct copy of that now on file in this office.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the
City of San Bernardino this day of ,2002.
Secretary of the Community
Development Commission of the
City of San Bernardino
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RESOLUTION NO.
A RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN
BERNARDINO AUTHORIZING THE BORROWING BY THE REDEVELOPMENT
AGENCY OF THE CITY OF SAN BERNARDINO FROM THE SAN BERNARDINO JOINT
POWERS FINANCING AUTHORITY IN A TOTAL AGGREGATE PRINCIPAL AMOUNT
OF NOT TO EXCEED $33,000,000, AUTHORIZING THE FORM OF CERTAIN LEGAL
DOCUMENTS RELATED THERETO' AND AUTHORIZING AND DIRECTING THEIR
PREPARATION, EXECUTION AND DELIVERY
WHEREAS, the City of San Bernardino, California (the "City") is a municipal
corporation and charter city, duly organized and existing pursuant to the provisions of the constitution
of the State of California; and
WHEREAS, the Redevelopment Agency of the City of San Bernardino is a public body.
corporate and politic (the "Agency") duly organized and existing pursuant to the California Community
Redevelopment Law (Health and Safety Code Section 33000 et seQ.) (the "CRL"); and
WHEREAS, the City and the Agency have heretofore entered into a Joint Exercise of
Powers Agreement establishing the San Bernardino Joint Powers Financing Authority (the
"Authority") for the purpose of issuing bonds, the proceeds of which may be loaned to any of its
members to finance public capital improvements; and
WHEREAS, the Authority has issued its Tax Allocation Refunding Bonds, Series 1995A
(the "Series 1995A Bonds" or "Prior Bonds") and its Subordinated Tax Allocation Refunding Bonds,
Series 1995B (the "Series 1995B Bonds" (the Series 1995A Bonds and the Series 1995B Bonds are
hereinafter from time to time referred to collectively as the" 1995 Bonds"); and
WHEREAS, the 1995 Bonds were issued in order to enable the Authority to make seven
(7) loans to the Agency to refund the Authority's outstanding $7,120,000 Tax Allocation Bonds, 1990
Series B (Tri-City Redevelopment Project); $5,200,000 Tax Allocation Refunding Bonds (Central City
North Redevelopment Project Area, Issue of 1988; $3,025,000 Tax Allocation Bonds (Central City
North Redevelopment Project Area), Issue of 1988; $12,800,000 Tax Allocation Refunding Bonds,
1989 Series A (State College Project No.4); $5,830,000 Tax Allocation Bonds 1990 Series 0 (State
College Project No.4); $9,575,000 Tax Allocation Bonds, Issue of 1994 (Police Station Financing
Project); $6,725,000 Tax Allocation Refunding Bonds, Issue of 1993 (Southeast Industrial Park
Redevelopment Project Area); $5,130,000 Tax Allocation Bonds, 1990 Series F (Southeast Industrial
Park Redevelopment Project Area); $2,940,000 Tax Allocation Bonds, 1990 Series E (Northwest
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Redevelopment Project); $3,400,000 Tax Allocation Bonds, 1990 Series A (South Valle
Redevelopment Project) and $1,730,000 Tax Allocation Bonds, 1990 Series C (Uptown
Redevelopment Project), as well as the Agency's outstanding $11,410,000 Redevelopment Agency of
the City of San Bernardino, Southeast Industrial Park Redevelopment Project Area, Tax Allocation
Refunding Bonds, Issue of 1988 and $1,525,000 Redevelopment Agency of the City of San Bernardino
Southeast Industrial Park Redevelopment Project Area, Tax Allocation Bonds, Issue of 1988, and to
finance certain redevelopment activities, pay costs of issuance of the 1995 Bonds and establish certain
reserve funds; and
WHEREAS, the Bonds are secured by the tax increment revenues from each respective
redevelopment area enumerated above, including the State College Project No.4, the Southeast
Industrial Park, the Northwest Redevelopment Project Area, the Tri-City Redevelopment Project Area,
the Uptown Redevelopment Project Area, the South Valle Redevelopment Project Area and the Central
City North Redevelopment Project Area (collectively, the "Project Areas"); and
WHEREAS, the Agency has requested that the Authority issue, and the Authority desires
to assist the Agency by the issuance of, a total aggregate principal amount of not to exceed
$33,000,000 San Bernardino Joint Powers Financing Authority Subordinate Tax Allocation
Refunding Bonds, Series 2002A (the "Bonds") which shall be subordinate to the Series 1995A Bonds;
and
WHEREAS, the proceeds of the Bonds will be used to make certain loans to the Agency
to (i) provide for costs of issuance of, and reserve funds for, the Bonds, (ii) refund the Series 1995B
Bonds, and (iii) provide monies for certain redevelopment projects and activities within the Project
Areas and certain capital improvement projects outside of the Project Areas or within another Project
Area which are of benefit to all or anyone of the Project Areas, as may be authorized pursuant to the
CRL and subject to such actions and findings as may be required to be taken hereafter by the Authority,
Mayor and Common Council of the City and the Agency; and
WHEREAS, the Bonds shall be issued pursuant to the Marks-Roos Local Bond Pooling
Act of 1985, codified at California Government Code Section 6584 ~~. (the "Act"); and
WHEREAS, the Bonds shall be issued pursuant to an Indenture of Trust by and between
the Authority and U.S. Bank N.A., as trustee, in form similar to that currently on file with the
Secretary of the Agency (the "Indenture"); and
WHEREAS, Kinsell, Newcomb & De Dios, Inc., as prospective purchaser of the Bonds
(the "Original Purchaser"), has informed the Authority that it intends to submit an offer to purchase the
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Bonds and shall cause to be prepared a Preliminary Official Statement and an Official Statement, a
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form of which Preliminary Official Statement is presently on file with the Secretary of the Authority;
3 and
4 WHEREAS, the Mayor and Common Council have duly considered the terms of such
transactions as contemplated herein and find that approval of the issuance of the Bonds at this time is in
5
the best interests of the City.
6 NOW, THEREFORE, THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN
7 BERNARDINO DO HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS:
8
Section 1. Approval of the Bonds. The Mayor and Common Council hereby approve the
9
issuance by the Authority of the Bonds in the total aggregate principal amount of not to exceed
10 $33,000,000 for the purpose of providing loans to the Agency (i) to pay certain costs of issuance and
11 fund a debt service reserve fund, (ii) refund the Series 1995B Bonds, and (iii) to undertake certain
12 redevelopment projects within the Project Areas and certain capital improvement projects outside of
the Project Areas or within another Project Area which are of benefit to all or anyone of the Project
13
Areas, as may be authorized pursuant to the CRL and subject to such actions and findings as may be
14 required to be taken hereafter by the Authority, Mayor and Common Council of the City and the
15 Agency. The Mayor and Common Council hereby further approve the loans to the Agency and the
form of the Loan Agreements.
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Section 2. Official Action. The Mayor and Common Council, the City Clerk and any and all
18 other officers of the City are hereby authorized and directed, on behalf of the City, to do any and all
19 things and to take any and all actions, including execution and delivery of assignments, certificates,
20 requisitions, agreements, notices, consents, instruments of conveyance, warrants, Bond closing
documents and other documents which any of such officers may deem necessary or advisable in
21
connection with the execution and delivery of the Bonds, and the borrowing by the Agency of the
22 proceeds derived therefrom and the consummation of the transactions described herein and therein.
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fill
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I
A RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN
2 BERNARDINO AUTHORIZING THE BORROWING BY THE REDEVELOPMENT
AGENCY OF THE CITY OF SAN BERNARDINO FROM THE SAN BERNARDINO JOINT
3 POWERS FINANCING AUTHORITY IN A TOTAL AGGREGATE PRINCIPAL AMOUNT
OF NOT TO EXCEED $33,000,000, AUTHORIZING THE FORM OF CERTAIN LEGAL
4 DOCUMENTS RELATED THERETO AND AUTHORIZING AND DIRECTING THEIR
PREPARATION, EXECUTION AND DELIVERY A
a
6 I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Mayor and Common
7 Council of the City of San Bernardino at a meeting thereof, held on the day of
8
, 2002, by the following vote, to wit:
9 Common Council AYES NAYS ABSTAIN ABSENT
10 ESTRADA
II LIEN
MCGINNIS
12 DERRY
13 SUAREZ
. 14 ANDERSON
McCAMMACK
15
16
City Clerk
17
The foregoing Resolution is hereby approved this _ day of ,2002.
18
19 Judith Valles, Mayor
20 of the City of San Bernardino
21
22
23 By:
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28 4
~ I
,
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1
STATE OF CALIFORNIA )
2 COUNTY OF SAN BERNARDINO) ss
CITY OF SAN BERNARDINO )
3
I, City Clerk of the City of San Bernardino, DO HEREBY
4 CERTIFY that the foregoing and attached copy of Mayor and Common Council of the City of San
Bernardino Resolution No. is a full, true and correct copy of that now on file in this office.
;)
6 IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the
City of San Bernardino this day of , 2000.
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City Clerk
of the City of San Bernardino
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5
** FOR OFFICE USE ONLY - NOT A PUBLIC DOCUMENT **
RESOLUTION AGENDA ITEM TRACKING FORM
Meeting Date (Date Adopted): -) -1-0;2 Item # \2.5.2- C\
Vote: Ayes \- '1 Nays f:.J..- Abstain
Change to motion to amend original documents:
Reso. # On Attachments: ~ Contract term:
Note on Resolution of Attachment stored separately: --==-
Direct City Clerk to (circle I): PUBLISH, POST, RECORD W/COUNTY By:
Date Sent to Mayor: 3 - 5 .- (),;l-
Date of Mayor's Signature: 2, -') -0 d
Date of ClerklCDC Signature: .~ -10 -o.::J.
Date Memo/Letter
Si nature:
See Attached:
See Attached:
ttached:
60 Day Reminder Letter Sent on 30th day:
90 Day Reminder Letter Sent on 45th day:
Request for Council Action & Staff Report Attached:
Updated Prior Resolutions (Other Than Below):
Updated CITY Personnel Folders (6413, 6429, 6433,10584,10585,12634):
Updated CDC Personnel Folders (5557):
Updated Traffic Folders (~85, 8234, 655, 92-389):
Copies Distribnted to:
City Attorney V'
Parks & Rec.
Code Compliance
Dev. Services
Police
Public Services
Water
Notes:
Resolution # J - S I
d- Absent -0-
f:,CE" CCc17t:oh"":<. ;f.(:C)-81
J J
NulINoid After: -
Reso. Log Updated: <./'"
Seal Impressed: V
Date Returned: -
Yes .L No By
Yes No~ By
Yes No~ By
Yes No~ By
Yes NoL By_
EDA
/
Finance
MIS
Others:
-:::\fr+
BEFORE FILING. REVIEW FORM TO ENSURE ANY NOTATIONS MADE HERE ARE TRANSFERRED TO THE
YEARLY RESOLUTION CHRONOLOGICAL LOG FOR FUTURE REFERENCE (Contract Term, etc.)
Ready to File: Jltl
Date: :z,J'7 J (; ?
I I #-
Revised 01/12/01
** FOR OFFICE USE ONLY - NOT A PUBLIC DOCUMENT **
RESOLUTION AGENDA ITEM TRACKING FORM
Meeting Date (Date Adopted): 3 '4 -0;:2
Vote: Ayes' -,
Item # ~ScJ- P,
Nays-B
(' DC-ldOV - (~
I
Absent <d
Zoc 2 - \5\
Resolution #
Abstai~
Sa 3-5 (
Change to motion to amend original documents:
Reso, # On Attachments: -=- Contract term:
Note on Resolution of Attachment stored separately: -=-
Direct City Clerk to (circle I): PUBLISH, POST, RECORD W/COUNTY
Date Sent to Mayor: 3.5 - a.:;
Date of Mayor's Signature: .:; ,& -u;)
Date of ClerklCDC Signature: .3 'l--<) :;
NullNoid After:-
By: -
Reso. Log Updated:
Seal Impressed:
,/"
/
Date Memoil"etter Sent for Signature:
60 Day Reminder Letter Sent ou 30th day:
90 Day Reminder Letter Sent on 45th day:
See Attached: Date Returned:
~ached:_
See Attached:
Request for Council Action & Staff Report Attached:
Updated Prior Resolutions (Other Than Below):
Updated CITY Persounel Folders (6413, 6429, 6433, 10584, 10585, 12634):
Updated CDC Personnel Folders (5557):
Updated T':;;ffic Folders (~85, 8234, 655, 92-389):
Copies Distributed to:
City Attorney v"
Parks & Rec.
Code Compliance Dev. Services
Police Public Services Water
Notes:
Yes~ No By
Yes No~ By
Yes No ~ By
Yes No ,/ By
Yes No 7 B
EDA
,/
MIS
Finance
Others:
BEFORE FILING. REVIEW FORM TO ENSURE ANY NOTATIONS MADE HERE ARE TRANSFERRED TO THE
YEARLY RESOLUTION CHRONOLOGICAL LOG FOR FUTURE REFERENCE (Contract Term. etc.)
Ready to File: ~
Date: "3 - I ) -OJ-
Revised 01/12/01
, .
** FOR OFFICE USE ONLY - NOT A PUBLIC DOCUMENT **
RESOLUTION AGENDA ITEM TRACKING FORM
Meeting Date (Date Adopted): 3 -~ - 0;;2 Item #
Vote: Ayes 1- 1 Nays -e
Change to motion to amend original documents:
\:CS.1.-C Resolution # :HX)d--!i; I
Abstain kr Absent .Q-
~ '0-5;1 COCf?m2 -IS
) I
Reso. # On Attachments:
Contract term: -
NullNoid After:
Note on Resolution of Attachment stored separately: =-
Direct City Clerk to (circle I): PUBLISH, POST, RECORD W/COUNTY By:
Date Sent to Mayor: ?-, . S - c, d-
Date of Mayor's Signature: :2, - S .0;:;
Date of Clerk/CDC Signature: 3.<;, "0 ~
Reso. Log Updated: ,/'
Seal Impressed: "./
Date Memo/Letter Sent for Signature:
60 Day Rem t on 30th day:
90 Day Reminder Letter Sent on 45th day:
See Attached:
See Attached:
See Attached:
Date Returned:
Request for Council Action & Staff Report Attached: Yes ~
Updated Prior Resolutions (Other Than Below): Yes
Updated CITY Personnel Folders (6413, 6429, 6433, 10584, 10585, 12634): Yes
Updated CDC Personnel Folders (5557): Yes
Updated Traffic Folders (~85, 8234, 655, 92-389): Yes
No By
No -...L- By
No -.-L. By
No -d- By
No / By
Copies Distributed to:
City Attorney /
Parks & Rec.
Code Compliance
Dev. Services
EDA ,/
Finance
MIS
Police
Public Services
Water
Others:
Notes:
BEFORE FILING. REVIEW FORM TO ENSURE ANY NOTATIONS MADE HERE ARE TRANSFERRED TO THE
YEARLY RESOLUTION CHRONOLOGICAL LOG FOR FUTURE REFERENCE (Contract Term. etc.)
Ready to File: ~ Date: ~
Revised 01/12/01