HomeMy WebLinkAboutR4- Economic Development Agency CITY OF SAN BERNARDINO
REQUEST FOR COUNCIL ACTION
FROM: FRED WILSON SUBJECT: MOTOR VEHICLE LICENSE
Assistant City Adminstrator FEE REVENUE PLEDGE FOR
THE CERTIFICATES OF
PARTICIPATION
DATE: March 29, 1995
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Sepsis of Previous Commission/Council/Committee Action(s):
On March 20, 1995,the Community Development Commission approved the issuance of the not to exceed$6,300,000
Certificates of Participation.
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Recommended Motion(s):
(Mayor and Common Council)
MOTION: RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN
BERNARDINO,CALIFORNIA,ELECTING TO SECURE THE REPAYMENT OF
CERTAIN CERTIFICATES WITH MOTOR VEHICLE LICENSE FEE REVENUES.
/(X 1111z7/
F4b WILSON
Assistant City Administrator
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Contact Person(s): Fred Wilson Phone: 5122
Project Area(s): N/A Ward(s): N/A
Supporting Data Attached: Staff Report,Resolution
FUNDING REQUIREMENTS: Amount: $ N/A Source: N/A
Budget Authority: N/A
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Commission/Council Notes:
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FW:lmp:certpart.cdc COMMISSION MEETING AGENDA
MEETING DATE: 04/03/1995
Agenda Item Number; 2 r
ECONOMIC DEVELOPMENT AGENCY
STAFF REPORT
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MOTOR VEHICLE LICENSE FEE REVENUE PLEDGE
FOR THE CERTIFICATES OF PARTICIPATION
BACKGROUND
On March 20, 1995, the Community Development Commission approved the issuance of the not
to exceed $6,300,000 Certificates of Participation(1195 Police Station Project), which are to be
secured by lease payments of the City and State Motor Vehicle License Fees to the extent the City
if unable to make payments under Lease.
In order for the State Controller's office to include the city in its Motor Vehicle License Fee
Program, the City must adopt a resolution in the format requested by the State.
Based on the foregoing, staff recommends adoption of the form resolution.
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FRED WILSON
Assistant City Administrator
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FW1mp:certpart.cdc COMMISSION MEETING AGENDA
MEETING DATE: 04/03/1995
Agenda Item Number: