HomeMy WebLinkAbout1981-108 Sari Bernardino
60,0.03-i"!=2
RESOLUTION NO. /
RESOLUTION OF THE MAYOR AND COMMON COUNCIL
OF THE CITY OF SAN BERNARDINO REGARDING
CERTAIN RESERVE FUNDS OBTAINED PURSUANT TO
ORDINANCE NO. 3815
WHEREAS, as a result of certain financings under
Ordinance No. 3815 there may be excess moneys which could be
used as reserves or to otherwise aid in some of the bond
issues of the City or its Redevelopment Agency.
NOW, THEREFORE, IT IS HEREBY RESOLVED, DETERMINED
AND ORDERED BY THE MAYOR AND COMMON COUNCIL OF THE CITY OF
SAN BERNARDINO AS FOLLOWS :
Section 1. There is hereby established in the
City Treasury an Industrial Revenue Bond Reserve Fund to be
held in trust solely for the purposes thereof .
Section 2. Deposits into said Industrial Revenue
Bond Reserve Fund shall be made from each financing taken
pursuant to Ordinance No. 3815 and shall be in the amount of
1% of each issue of Bonds issued pursuant to said Ordinance
No. 3815.
P24 . 1 (ap)
3/3/81
�T�i�
Sir, Berardino
60z009-17-2
Section 3. The Industrial Revenue Bond Reserve
Fund shall only operate as a reserve fund for such bonds
issued under Ordinance No. 3815 as the Mayor and Common
Council may select and only in such manner as they may
direct in the proceedings for the issuance of the Bonds
involved .
Section 4 . From the proceeds of the $27 ,500 ,000
"City of San Bernardino, California, Hospital Revenue Bonds
(Loma Linda University Medical Center Project) Series 1981" ,
there shall be deposited into said Industrial Revenue Bond
Reserve Fund the sum of $275, 000.
-2- P24 . 1 (ap)
3/3/81
6A p-0.9-;17-2
I HEREBY CERTIFY that the foregoing Resolution was
duly adopted by the Mayor and Common Council of the City of
San Bernardino at ax) e �1 meeting
thereof , held on the day of 1981 , by
the following vote, to wit :
AYES : Councilmen Z,,d� '
NAYS :
ABSENT:
City Clerk
The foregoing Resolution is hereby approved this
day of ."J �r 19
ayor h City of Bernardino
Approved as to form:
City Attorney
3