HomeMy WebLinkAbout1991-5312
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RESOLUTION NO. 5312
RESOLUTION OF THE COMMUNITY DEVELOPMENT
COMMISSION OF THE CITY OF SAN BERNARDINO,
CALIFORNIA, REGARDING THE EXERCISE OF POWERS
BY THE AGENCY ADMINISTRATOR OF THE ECONOMIC
DEVELOPMENT AGENCY OF THE CITY OF
SAN BERNARDINO PERTAINING TO A CERTAIN BOND
FINANCING TO BE UNDERTAKEN BY THE
SAN BERNARDINO/COLTON/LOMA LINDA JOINT
POWERS FINANCING AUTHORITY
WHEREAS, the Community Development Commission of the
City of San Bernardino (the "Commission") is the governing body
which acts on behalf of the Redevelopment Agency of the City of
San Bernardino (the "Agency"), a redevelopment agency, a public
body, corporate and politic of the State of California, organized
and existing pursuant to the Community Redevelopment Law (Part 1
of Division 24) commencing with section 33000 of the Health and
Safety Code of the State of California (the "Act"); and
WHEREAS, the Inland Valley Development Agency (the
"IVDA") is a joint powers authority which was formed for the
purposes of causing the redevelopment of Norton Air Force Base
and certain areas in proximity thereto in accordance with the
provisions of Health and Safety Code section 33320.5; and
WHEREAS, the Redevelopment Plan for the Inland Valley
Redevelopment Project (the "Redevelopment Plan"), approved and
adopted by the IVDA, includes within its redevelopment project
area certain territory located within the municipal boundaries of
the city of San Bernardino (the "city"); and
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1 WHEREAS, the Agency, in conjunction with the
2 Redevelopment Agency of the City of Colton and the Redevelopment
~ Agency of the City of Loma Linda has approved the formation of a
4 joint powers financing authority (the "Authority") in order to
5 assist in the funding of the acti vi ties of the IVDA in its
6 implementation of the Redevelopment Plan; and
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8 WHEREAS, the Agency has entered into a certain Joint
9 Exercise of Powers Agreement (the "Joint Powers Agreement") by
10 and among the Agency, the Redevelopment Agency of the City of
11 Colton and the Redevelopment Agency of the city of Loma Linda
12 pertaining to the funding of certain activities of the IVDA, a
1~ copy of which Joint Powers Agreement is on file with the Agency
14 Secretary; and
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16 WHEREAS, the Authority has deemed it desirable to issue
17 tax allocation notes (the "Notes") in a principal amount not to
18 exceed Seven Million Five Hundred Thousand Dollars ($7,500,000),
19 for the purposes of assisting the IVDA in implementing the
20 provisions of the Redevelopment Plan; and
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22 WHEREAS, pursuant to the terms of the Joint Powers
2~ Agreement, the Agency Administrator of the Economic Development
24 Agency of the City of San Bernardino (the "Agency Administrator")
25 is to serve as the Chairperson of the Authority; and
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1 WHEREAS, the Agency deems it desirable to specify the
2 scope of the powers of the Agency Administrator in connection
3 with the Authority's issuance of the Notes.
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5 NOW, THEREFORE, THE COMMUNITY DEVELOPMENT COMMISSION
6 ACTING ON BEHALF OF THE REDEVELOPMENT AGENCY OF THE CITY OF
7 SAN BERNARDINO DOES HEREBY RESOLVE, DETERMINE AND ORDER AS
8 FOLLOWS:
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10 section 1. The Agency Administrator is hereby
11 authorized to participate in the voting as the Chairperson of the
12 Authority in connection with the authorization, sale and issuance
13 of the Notes subject to the following limitations as hereinafter
14 set forth. The Agency Administrator may only participate in the
15 consideration and the casting of a vote, as he may deem
16 appropriate under the circumstances, relating to all actions as
17 may be reasonably required to sell, issue and deliver the Notes
18 in a principal amount not to exceed $7,500,000. The Agency
19 Administrator shall have no authority to vote as the Chairperson
20 of the Authority for any subsequent issue of notes, bonds or
21 other obligations of the Authority irrespective of whether any
22 such notes, bonds or other obligations obligate or purport to
23 obligate any funds whatsoever of the Agency, unless otherwise
24 authorized in writing by the Commission upon official action by
25 the Commission. Under no circumstances shall the Agency
26 Administrator as the Chairperson of the Authority cast any vote
27 in such position that would provide for the issuance of any other
28 note or bond or the incurring of any other obligation without the
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1 express written direction of the Commission obtained upon the
2 official action regarding such matter by the Commission.
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4 section 2. The Agency Administrator is hereby
5 authorized either as the staff and the Executive Director of the
6 Authority or as the Chairperson thereof, to take such ministerial
7 actions as may be deemed necessary in connection wi th the
8 administering of all aspects of the Notes and the expenditure of
9 funds thereof. No further authorization shall be required for
10 the Agency Administrator to approve invoices either as the staff
11 and the Executive Director of the Authority or as the Chairperson
12 thereof for the paYment of items from either the proceeds of the
13 aggregate $50,000 loan from the three (3) member redevelopment
14 agencies constituting the Authority or the proceeds of the Notes,
15 including the repaYment of said $50,000 loan.
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1..1
1 RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF
SAN BERNARDINO, CALIFORNIA, REGARDING THE EXERCISE OF POWERS BY
2 THE AGENCY ADMINISTRATOR OF THE ECONOMIC DEVELOPMENT AGENCY OF
THE CITY OF SAN BERNARDINO PERTAINING TO A CERTAIN BOND FINANCING
3 TO BE UNDERTAKEN BY THE SAN BERNARDINO/COLTON/LOMA LINDA JOINT
POWERS FINANCING AUTHORITY
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24 Approved as to
form and legal content:
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26 By: ~
~gency Coun
27 SBEOOll3\D0C\26
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section 3.
This Resolution shall take effect upon
the date of its adoption.
I HEREBY CERTIFY that the foregoing Resolution was duly
adopted by the Community Development Commission of the City of
San Bernardino at a
Reg-ular
meeting
thereof, held on the
day of
October
7th
1991, by the following vote, to wit:
commission Members:
AYES
NAYS
ABSTAIN
ABSENT
ESTRADA
REILLY
HERNANDEZ
MAUDSLEY
MINOR
POPE-LUDLAM
MILLER
x
x
-
x
x
x
x
x
day of
Henderson
..,
7th
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",~""~".,__,~,_"~_"_,~~,~",~""',__._.l_'+""",,,,,,,,,,~_'''''''''
STATE OF CALIFORNIA )
COUNTY OF SAN BERNARDINO) ss
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. 5311 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 7th day of
October , 1991.
secre~
Community Development Commission
of the city of San Bernardino
_'_''"''~_~__'''"_~_'_'_~''''_~'~~'~''.''''''__''_''''.''_""'_~_"~'-~'~'''''''_'_'-J.-.-"~~~'',_"_,_.'~''_____~~'=~-''-''~'''''___~_,""~'~'C'~~,"",,,,_' '.
COMMUNITY DEVELOPMENT COMMISSION OF THE
CITY OF SAN BERNARDINO, CALIFORNIA
AGENDA
October 7, 1991
Item: RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF
THE CITY OF SAN BERNARDINO, CALIFORNIA, REGARDING THE
EXERCISE OF POWERS BY THE AGENCY ADMINISTRATOR OF THE
ECONOMIC DEVELOPMENT AGENCY OF THE CITY OF
SAN BERNARDINO PERTAINING TO A CERTAIN BOND FINANCING
TO BE UNDERTAKEN rBy THE SAN BERNARDINO/COLTON/LOMA
LINDA JOINT POWERS FINANCING AUTHORITY
Action to
be Taken: Adopt Resolution.
certified copy of Resolution to be returned to Sabo & Green.
SBBO\0113\DOC\26
10/01/91 8:36