HomeMy WebLinkAbout1991-5291
1
2
3
4
5
6
RESOLUTION NO. 5291
RESOLUTION OF THE COMMUNITY DEVELOPMENT
COMMISSION OF THE CITY OF SAN BERNARDINO,
CALIFORNIA, APPROVING AN AMENDMENT OF
CERTAIN LINES OF CREDIT WITH WELLS FARGO
BANK, NATIONAL ASSOCIATION AND AUTHORIZING
THE EXECUTION OF CERTAIN DOCUMENTS IN
CONNECTION THEREWITH
7 WHEREAS, the Community Development Commission of the
8 City of San Bernardino (the "commission") on behalf of the
9 Redevelopment Agency of the City of San Bernardino (the
10 "Agency"), is a redevelopment agency, a public body, corporate
11 and politic of the State of California, organized and existing
12 pursuant to the community Redevelopment Law (Part 1 of Division
13 24) commencing with section 33000 of the Health and Safety Code
14 of the State of California (the "Act"); and
15
16
WHEREAS, pursuant to Health and Safety Code section
17 33601 a redevelopment agency may borrow money (by the issuance of
18 bonds or otherwise) or accept financial or other assistance from
19 any private lending institution for any redevelopment project for
20 the purposes of undertaking redevelopment activities; and
21
22
WHEREAS, pursuant to California Government Code section
23 5900 et sea., the Agency may issue bonds, as such term is defined
24 in California Government Code section 5902(a), and may enter into
25 and undertake similar and related financing transactions as more
26 fully described in Government Code section 5900 et seq; and
27 / / /
28 III
- 1 -
1 WHEREAS, the Agency has previously taken certain
2 actions with the City of San Bernardino (the "city") to approve
3 and adopt various redevelopment plans and establish redevelopment
4 project areas within the boundaries of the City; and
5
6 WHEREAS, in order to fund various redevelopment
7 projects within its various redevelopment project areas, the
8 Agency has previously approved the establishment of two (2) lines
9 of credit (the "Lines of Credit") with Wells Fargo Bank, National
10 Association (the "Bank"); and
11
12 WHEREAS, the Agency now deems it desirable to amend the
13 Lines of Credit in order to increase said Lines of Credit by an
14 amount equal to Four Million Dollars ($4,000,000) for the
15 purposes of allowing the Agency to undertake certain
16 redevelopment projects within the Northwest Redevelopment Project
17 Area; and
18
19 WHEREAS, in connection with the amendment of the Lines
20 of Credit, the Agency shall be required to execute certain
21 documents and the Agency deems it desirable to authorize the
22 execution and delivery of such documents in connection with the
23 amendment of the Lines of Credit.
24
25 NOW, THEREFORE, THE COMMUNITY DEVELOPMENT COMMISSION
26 ACTING ON BEHALF OF THE REDEVELOPMENT AGENCY OF THE CITY OF SAN
27 BERNARDINO, CALIFORNIA, DO HEREBY FIND, RESOLVE, DETERMINE AND
~
28 ORDER AS FOLLOWS:
- 2 -
-
1 section 1. The amendment of the Lines of Credit as
2 described in the Recitals hereof is hereby approved.
3
4 section 2. The Agency authorizes the execution of
5 the final form of any documents required in connection with the
6 amendment of the Lines of Credit when the same shall be presented
7 for execution by the Chairman, the Secretary, or such other
8 appropriate Agency officials, subject to such changes, additions
9 and deletions as may be approved by the Chairman. The execution
10 thereof by the Chairman, the Secretary, or such other appropriate
11 Agency official shall be deemed to be conclusive as to the
12 approval thereof, by and on behalf of the Agency.
13 I I I
14 I I I
15 I I I
16 I I I
17 I I I
18 I I I
19 I I I
20 III
21 I I I
22 III
23 III
24 III
25 III
26 I I I
27 I I I
28 III
- 3 -
1 RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF
SAN BERNARDINO, CALIFORNIA, APPROVING AN AMENDMENT OF CERTAIN
2 LINES OF CREDIT WITH WELLS FARGO BANK, NATIONAL ASSOCIATION AND
AUTHORIZING THE EXECUTION OF CERTAIN DOCUMENTS IN CONNECTION
3 THEREWITH
4
section 3.
This Resolution shall take effect upon
5 the date of its adoption.
6
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 a
10 the 3rd day of
11 vote, to wit:
Regular
meeting thereof, held on
JU11e
, 1991, by the following
12 Commission Members:
AYES
NAYS
ABSTAIN
13 ESTRADA
REILLY
14 FLORES
MAUDSLEY
15 MINOR
POPE-LUDLAM
16 MILLER
17
18
---L-
x
---L-
x
---L-
x
---L-
The foregoing resolution is hereby approv ~ this 3rd
June
, 1991.
24
Approved as to
25 form and legal content:
26 By: A9:tf:t~
27
~;,~"
SBBO\OOOl \DOC\451
28
- 4 -
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
.C~
28
_ ~~-4,.,_.=-~-.;;o.~-4_,"",*"_""'"',,,,-,~,,,,,,,~~,_"~~~=,_~,~~"_~" .,.
1 STATE OF CALIFORNIA )
COUNTY OF SAN BERNARDINO ) ss
2 CITY OF SAN BERNARDINO )
I, Kenneth J. Henderson 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. 5291 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 Community Development Commission
of the ci ty of San Bernardino this 3rd day of
June , 1991.
sec~ the
Community Development
Commission of the
City of San Bernardino
1
2
3
4
5
6
7 Item:
8
9
10
11 Action to
be Taken:
12
13
MAYOR AND COMMON COUNCIL OF THE
CITY OF SAN BERNARDINO, CALIFORNIA
AGENDA
April 15, 1991
RESOLUTION OF THE COMMUNITY DEVELOPMENT
COMMISSION OF THE CITY OF SAN BERNARDINO,
CALIFORNIA, APPROVING AN AMENDMENT OF CERTAIN
LINES OF CREDIT WITH WELLS FARGO BANK, NATIONAL
ASSOCIATION AND AUTHORIZING THE ~XECUTION OF
CERTAIN DOCUMENTS IN CONNECTION THEREWITH
Adopt Resolution.
certified copy of Resolution to be returned to Sabo & Green, a
14 Professional Corporation.
15
16
17
18
19
20
SBEO/OOOllOOC/451
21 4/9/910700 ""
22
23
24
25
26
27
'-
28