HomeMy WebLinkAbout1986-510
SBE077-l4/l8l4S/kl
11/24/86
RESOLUTION NO. R6-S10
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE
CITY OF SAN BERNARDINO, CALIFORNIA, APPROVING THE
PRELIMINARY OFFICIAL STATEMENT AND AUTHORIZING
THE PREPARATION OF A FINAL OFFICIAL STATEMENT IN
CONNECTION WITH THE ISSUANCE OF CERTAIN
ASSESSMENT BONDS
WHEREAS, the Mayor and Common Council of the City of
San Bernardino, California (the "Mayor and Common Council"), intend
to refund the $13,400,000 City of San Bernardino, Improvement Bonds,
Assessment District No. 961, Series 1985 (Park Centre) (the "1985
Bonds" )
by
issuing
its
City
of
San Bernardino,
California,
Improvement Refunding Bonds, Assessment District No. 961, Series
1986, in an aggregate principal amount equal to $12,450,000 (the
"Bonds") pursuant to the terms and provisions of the Refunding Act
of 1984 for 1915 Improvement Act Bonds, being Streets and Highways
Code of the State of California, Section 9500, et seq. (the "1984
Act"); and
WHEREAS, it is necessary for the City of San Bernardino,
California
(the "City"),
to approve the Preliminary Official
Statement with respect to the Bonds as distributed by Miller &
Schroeder Financial,
Inc.
(the "Underwriter"),
to prospective
purchasers and as presented to the Mayor and Common Counci 1 and to
authorize
the
preparation of a final Official Statement in
connection with the issuance, sale and delivery of the Bonds.
- 1 -
f
,
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.
That the above recitals are all true and
correct.
Section 2. That the Preliminary Official Statement with
respect to the Bonds as distributed by the Underwriter to
prospective purchasers and as presented to the Mayor and Common
Council is hereby approved. The City hereby authorizes the
preparation of a final Official Statement in connection with the
issuance, sale and delivery of the Bonds and hereby authorizes the
Mayor, the City Treasurer or such other City officer or official as
is appropriate under the circumstances, to execute the Official
Statement where and as indicated. The City Clerk is hereby
authorized and directed to deliver copies of the Official Statement
to the purchasers of the Bonds and such reasonable quantities as
requested by the purchasers.
Section 3. That the Mayor, the City Treasurer or such
other City official or officer as is appropriate under the
. circumstances, is hereby directed to deliver the Bonds to the
purchasers thereof upon the payment therefor together with accrued
interest to the date of delivery.
- 2 -
Section 4.
The Mayor, the City Treasurer the City
Clerk, or such other authorized officer of the City who may act in
their place, are hereby authorized and directed to execute and
deliver any and all of the necessary closing documents and
certificates in connection with the issuance, sale and delivery of
the Bonds.
The City Treasurer, or First Interstate Bank of
California, as Fiscal Agent acting on behalf of the City, shall pay
the costs of issuance with the proceeds of the Bonds as invoices
representing such costs of issuance are presented to the City Staff
for payment, and such costs of issuance are hereby approved for
payment by the City in accordance with bills or invoices presented
to and approved by the City Treasurer.
Section 5.
This
Resolution
sha 11 take ef f ect upon
adoption.
I HEREBY
adopted by the
San Bernardino at
held on the 8th
the following vote,
CERTIFY that
Mayor and
an adjourned
day of
to wit:
the foregoing
Common Counci I
rP..Q'lllnr
De~Amber
resolution
of the
meeting
was duly
Ci ty of
thereof,
1986, by
AYES:
Council Members E~Trada, Reill. Ouiel. Strickler
NAYS:
Council Member Frazier
ABSENT:
Council Members Hernandez. Marks
~4(g?~~~
CIty Clerk
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day of
The foregoing
December
resolution is
, 1986.
Approved as to form:
<<~~
),.lIfI'Eity Attorney
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hereby approved this ra
g~~~
San Bernardino