HomeMy WebLinkAbout1981-120 w
RESOLUTION NO. g�` = '
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE
CITY OF SAN BERNARDINO AMENDING RESOLUTION NO. 81-67
ASSESSMENT DISTRICT NO. 5861
WHEREAS, the Mayor and Common Council have heretofore adopted a
Resolution of Issuance, Resolution No. 81-67, authorizing the issuance of
Improvement Bonds for Assessment District No. 5861 and the establishment of
certain funds for payment of moneys from Bond proceeds, under and pursuant to
Ordinance No. 3902, Municipal Improvement Act of 1913 and the Improvement
Bond Act of 1915 (Divisions 12 and 10, respectively, of the Streets and Highways
Code of the State of California); and
WHEREAS, it has been determined that the City Treasurer (rather than the
Paying Agent) shall administer the various funds established in Resolution No. 81-
67.
NOW, THEREFORE, IT IS HEREBY RESOLVED, DETERMINED AND
ORDERED BY THE MAYOR AND COMMON COUNCIL OFTHE CITY OF SAN
BERNARDINO AS FOLLOWS:
r herein Section 1. That the recitals set forth he ei t n above are true and correct.
Section 2. That Sections 9 and 10 of Resolution No. 81-67 are hereby
amended to read as follows:
1
"Section 9. Funds Established. There is hereby established with the
City Treasurer a special trust fund called the 'Improvement Bonds,
Assessment District No. 5861, City of San Bernardino, Improvement Fund'
(hereinafter sometimes called the 'Improvement Fund').
t
I'
"There is hereby established with the City Treasurer of the City of
San Bernardino a special trust fund called the 'City of San Bernardino
Improvement Bonds, Assessment District No. 5861 Special Fund' (hereinafter
sometimes called the 'Special Fund').
"The following special sub-funds are hereby established in the Special
Fund:
(a) the 'Improvement Bond, Assessment District No.
5861, City of San Bernardino, Redemption Fund' (hereinafter
sometimes called the 'Redemption Fund'); and
(b) the 'Improvement Bond, Assessment District No.
5861, City of San Bernardino, Special Reserve Fund' (hereinafter
sometimes called the 'Special Reserve Fund').
"So long as any of the Bonds herein authorized, or any
interest thereon, remain unpaid, the moneys in the foregoing Funds
shall be used for no purposes other than those required or permitted
by this Resolution, or the law.
"Section 10. Use of Bond Proceeds. The City Treasurer, on behalf
of the City, shall receive the proceeds from the sale of the Bonds, upon the
delivery of the Bonds to the Purchasers thereof, and shall dispose of such
proceeds and moneys as follows:
(a) accrued interest and premium, if any, paid by the
Purchasers of the Bonds shall be deposited into the Redemption Fund;
(b) the sum of $185,115 shall be deposited into the
Redemption Fund;
- 2 -
W the sum of $400,000 shall be deposited into the
Special Reserve Fund;
(d) the costs of issuance of the Bonds, City expenses
in connection with the Bonds, shall be paid in accordance with an
Officer's Certificate. As used in this Resolution, the term 'Officer's
Certificate' means a certificate of the City signed by an officer
of the City, with the seal of the City affixed, and filed with the
City Treasurer. Any such instrument and supporting opinions or
representations, if any, may, but need not, be combined in a single
instrument with any other instrument, opinion or representation,
and the two or more so combined shall be read and construed as a
single instrument; and
(e) the balance of the proceeds from the sale of the
Bonds shall be deposited in the Improvement Fund to be disbursed
therefrom in accordance with the City's usual procedures set forth
in Sections 135 and 139 of the City Charter as implemented by
Chapters 3.08 and 3.16 of the San Bernardino Municipal Code and
other appropriate laws.
APPROVED AND ADOPTED this day of ,
1981.
I Mayor of the City of San Bernardino
California
(SEAL)
ATTEST:
City Clerk of the City of
San Bernardino, California
- 3 -
1 HEREBY CERTIFY that the foregoing resolution was
duly adopted by the Mayor and Common Council of the City of
tan Bernardino at & .t, tweeting thereof, held on
the day of ��� 1961 , by the following vote
to Wit:
AYES : Councilmen: Z'4
NAYS:
ABSENT:
City Clerk
The foregoing Resolution is hereby approved
this day of 1981 .
a z e City o
San Der ardino
APPROVED AS TO FORM:
ity A torney