HomeMy WebLinkAbout1985-154
1,020-36/0506S/cb
4/19/85
RESOLUTION NO. 85-154
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE
CITY OF SAN BERNARDINO, CALIFORNIA, SETTING A
PUBLIC HEARING IN CONNECTION WITH THE ISSUANCE OF
INDUSTRIAL DEVELOPMENT REVENUE BONDS AND TAKING
CERTAIN OTHER ACTIONS (KCKC BUILDING PROJECT)
WHEREAS, the City of San Bernardino, California ("City"),
is a "home rule city" duly organized and existing under and pursuant
to a Charter adopted under the provisions of the Constitution of the
State of California; and
WHEREAS, pursuant to its home rule powers, the City duly
and regularly enacted Ordinance No. 3815 (the "Ordinance") to
finance various types of projects, as defined in the Ordinance, and
to issue its special revenue bonds for the purpose of paying the
cost of financing such projects, and has amended the same from time
to time; and
WHEREAS, said Ordinance No. 3815, as amended, is intended
to provide a source of financing for the development of industry and
commerce and to thereby broaden the employment opportunities for
residents of the City and to broaden the tax and revenue base of the
City; and
WHEREAS, the City has previously declared its intent to
provide tax-exempt financing assistance to Jerome P. Maltz (the
"Company")
for
the purpose of
providing
financing
for
the
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construction and development by the Company of an approximately
30,000 square foot office bui Iding located wi thin the City, and as
more fully described in the Application of the Company as on file
with the City (the "Project"); and
WHEREAS, the certain amendments to Section 103 of the
Internal Revenue Code of 1954, as amended (the "Code"), as enacted
by Congress under the Tax Equity and Fiscal Responsibility Act of
1982 ("T.E.F.R.A."), require that a public hearing be held in
connection with the authorization and issuance of any industrial
development bonds including such bonds which may be issued to
provide financing to. the Company for the Project; and
WHEREAS, the City has been requested to hold a public
hearing pursuant to the Code as amended by T.E.F.R.A. for the
issuance and sale of industrial development revenue bonds by the
City to provide funds for the financing of the Company to be located
within the City of San Bernardino as hereinafter set forth; and
WHEREAS, the City has previously assigned an amount equal
to $3,612,000 of the calendar year 1985 Private Activity Bond Limit
of the City of San Bernardino for the purpose of providing for the
financing of the Project of the Company, subject to certain
conditions; and
WHEREAS, it is appropriate for the City to take certain
action at this time regarding the requests of the Applicant.
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NOW, THEREFORE, THE MAYOR AND COMMON COUNCIL OF THE CITY OF
SAN BERNARDINO, DO HEREBY FIND, RESOLVE, DETERMINE AND ORDER AS
FOLLOWS:
Section 1.
That the recitals set forth hereinabove are
true and correct in all respects.
Section 2. The City of San Bernardino, California, is a
municipal corporation duly created, established and authorized to
transact business and exercise its powers, all under and pursuant to
the Constitution and laws of the State of California, and the City
Charter of the City, and the powers of the City include the power to
issue bonds for any of its corporate purposes.
Section 3. Pursuant to the Charter of the City and
Ordinance No. 3815, as amended, of the City, the City is legally
authorized to issue special revenue bonds for the construction and
permanent financing of the Project as more fully described in the
recitals hereof.
Section 4. The Counci I consti tutes the governing body
of the City and is legally authorized to provide for the issuance of
such special revenue bonds by the City.
Section 5. The Project that shall be the subject of the
public hearing and the Project to be financed by the industrial
development revenue bonds of the City (the "KCKC Building Proj ect")
as described in the recitals of this Resolution may be authorized by
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resolution or resolutions of the City after the conclusion of the
public hearing at a meeting or meetings to be held for such purpose.
Section 6. Pursuant to the requirements of Code
Section 103(k), the City hereby authorizes the public hearing in
connection with the Project as described in the recitals of this
Resolution to be held in accordance with said Code Section 103(k) in
the Council Chambers, San Bernardino City Hall, at the next meeting
of the City Council for which the City Clerk shall have caused
notice thereof to be published in a timely manner as herein provided
for the purpose of considering the public benefits and public
purposes to be furthered by the financing or financings contemplated
by the action of the City pursuant to this Resolution for the
issuance of industrial development revenue bonds by the City for the
Project pursuant to Ordinance No. 3815, as amended. A public
hearing shall be held at the hour and on the date provided in such
notice for the Project. The City hereby authorizes and directs the
City Clerk of the City of San Bernardino to publish by at least two
(2) insertions, one of which shall be not less than fourteen (14)
days prior to said hearing, in The Sun a notice of pUblic hearing
substantially in the form of the notice attached hereto as
Exhibit "A" and incorporated herein by reference and made a part
hereof for the Project.
Section 7. The public hearing as authorized by
Section 6 of this Resolution may also consider the adoption of an
appropriate resolution extending the termination date of the
assignment of said portion of the 1985 calendar year Private
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Activity Bond Limit of the City for the Project as referenced in the
recitals of this Resolution and the adoption of an appropriate
resolution of issuance or trust indenture for the industrial
development revenue bonds which shall contain provisions so as to
provide for the appropriate security for the payment of the
industrial development revenue bonds to be made by the Company
pursuant to the mortgage loan and secured by a deed of trust on said
Project. with no obligation of the City's general funds.
Section 8.
This Resolution shall take effect
upon
adoption.
I HEREBY
adopted by the
San Bernardino at
held on the 29th
the following vote,
CERTIFY that the foregoing
Mayor and Common Counci 1
a n ad i ourned reqular
day of April
to wit:
resolution
of the
meeting
was duly
City of
thereof,
1985 , by
AYES:
Counci 1 Members Castaneda. Reilly. Hernandez.
Marks. Quiel. Strickler
NAYS:
None
ABSENT:
Council Member Frazier
~/(/2fJ~~
Ci tyClerk
The foregoing
May
resolution is
, 1985.
hereby approved thi
3;r./
day of
of
Approved as to form:
~J/~.J?n
/1' ~
City Attorney
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EXHIBIT "A"
NOTICE OF HEARING BY THE MAYOR AND COMMON COUNCIL
OF THE CITY OF SAN BERNARDINO, CALIFORNIA, FOR A
CERTAIN INDUSTRIAL DEVELOPMENT BOND FINANCING AND
THE ISSUANCE OF INDUSTRIAL DEVELOPMENT REVENUE
BONDS IN CONNECTION THEREWITH (KCKC BUILDING
PROJECT)
NOTICE IS HEREBY GIVEN that a public hearing shall be
conducted by the Mayor and Common Council of the City of
San Bernardino, California and shall be held on Monday. /)14(( ':;;O/t~,
o
1985, at the hour of 11:00 A.M., in the Council Chambers, City Hall,
300 North "0" Street, San Bernardino, California 92418, for the
purpose as hereinafter set forth.
The purpose of said public hearing is to consider a
proposal by Jerome P. Maltz (the "Company") in accordance with
Section 103(k) of the Internal Revenue Code of 1954. as amended. for
industrial development bond financing
for the "KCKC Building
Project" which shall consist of the construction and financing of an
approximately 30.000 square foot office building with possible
limited retail uses on a previously purchased site located on the
north side of 4th Street between "G" Street and "H" Street in the
Ci ty of San Bernardino.
The Project shall consist of the office
building, on-site vehicle parking spaces as required by the City.
appurtenant landscaping and other improvements.
The City of San Bernardino intends to issue its industrial
development revenue bonds pursuant to Ordinance No. 3BIS, as amended
(the "Ordi nlnce") . for 81 i d project in In amount not to exceed
$4.000.000 for the construction Ind permlnent financing thereof.
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All persons interested in the subject matter and the pUblic
purposes and public benefits and the issuance of the industrial
development revenue bonds in an estimated principal amount not to
exceed $4,000,000 in connection with said project may attend such
hearing and/or file their written objections or comments thereto, or
may otherwise communicate in favor of the project to be undertaken
by the City of San Bernardino, California pursuant to the Ordinance.
NOTICE GIVEN as of this ~ day of &,,{'/,-, 1985.
...k#$4<,~/
City Clerk of the City of
San Bernardino, California
To be published in The Sun on ~/~~/85 and ~/ ~/85
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