HomeMy WebLinkAbout2017-0921
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RESOLUTION NO. 2017-92
RESOLUTION OF THE MAYOR AND CITY COUNCIL OF THE CITY OF SAN
BERNARDINO AUTHORIZING THE AMENDMENT OF DOCUMENTS
RELATING TO THE LEASE REVENUE REFUNDING BONDS (CITY HALL
PROJECT) SERIES 1996, APPROVING THE EXECUTION AND DELIVERY OF
CERTAIN DOCUMENTS IN CONNECTION THEREWITH AND CERTAIN
OTHER MATTERS
WHEREAS, the City of San Bernardino (the "City"), a municipal corporation and
charter city duly organized and existing under and pursuant to the Constitution and laws of
the State of California, has previously approved the issuance by the San Bernardino Joint
Powers Financing Authority (the "Authority") of Lease Revenue Refunding Bonds (City Hall
Project) Series 1996 (the "Bonds") to refinance the acquisition of certain facilities; and
WHEREAS, the Bonds were issued pursuant to a Trust Indenture, dated as of
December 1, 1996 (the "Trust Indenture"), by and between the Authority and U.S. Bank
National Association, as trustee; and
WHEREAS, the Bonds were secured by payments made by the City under a City Hall
Lease Agreement, dated as of December 1, 1996 (the "City Hall Lease Agreement"), by and
between the Authority, as lessor of certain assets described in the City Hall Lease Agreement,
and the City, as lessee; and
WHEREAS, the Mayor and the Common Council of the City have determined that it is
in the best interest of the City to amend the City Hall Lease Agreement in order to permit the
substitution of a reserve surety in lieu of cash to fund the Reserve Fund established under the
Trust Indenture.
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NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND CITY COUNCIL OF
THE CITY OF SAN BERNARDINO, AS FOLLOWS:
Section 1. Amendment No. 1 to City Hall Lease Agreement, in substantially the form
attached hereto as Exhibit "A," is hereby approved. The Mayor, any member of the City
Council, the City Attorney, the City Manager or the designee thereof (the "Authorized
Officers") are hereby authorized and directed to execute and deliver Amendment No. 1 to City
Hall Lease Agreement with such changes, insertions and omissions as may be recommended by
the City Attorney or by Stradling Yocca Carlson & Rauth, a Professional Corporation ("Special
Counsel") and approved by the officer executing the same, said execution being conclusive
evidence of such approval.
Section 2. The Authorized Officers and any other proper officer of the City, acting
singly, be and each of them hereby is authorized and directed to execute and deliver any and all
documents and instruments and to do and cause to be done any and all acts and things
necessary or proper for carrying out the transactions contemplated by Amendment No. 1 to City
Hall Lease Agreement and this Resolution. All prior actions of the Authorized Officers and
other officers or staff of the City with respect to this matter are hereby ratified and approved.
Section 3. Unless otherwise defined herein, all terms used herein and not otherwise
defined shall have the meanings given such terms in the Trust Indenture unless the context
otherwise clearly requires.
Section 4. This Resolution shall take effect immediately upon its adoption.
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RESOLUTION OF THE MAYOR AND CITY COUNCIL OF THE CITY OF SAN
BERNARDINO AUTHORIZING THE AMENDMENT OF DOCUMENTS
RELATING TO THE LEASE REVENUE REFUNDING BONDS (CITY HALL
PROJECT) SERIES 1996, APPROVING THE EXECUTION AND DELIVERY OF
CERTAIN DOCUMENTS IN CONNECTION THEREWITH AND CERTAIN
OTHER MATTERS
I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Mayor
and City Council of the City of San Bernardino at a Joint Regular Meeting thereof, held on
the 15th day of May 2017, by the following vote, to wit:
Council Members:
AYES
MARQUEZ
X
BARRIOS
X
VALDIVIA
X
SHORETT
X(M)
NICKEL
X(S)
RICHARD
X
MULVIHILL X
NAYS ABSTAIN ABSENT
G orgeann Hanna, CMC, City Clerk
The foregoing Resolution is hereby approved this 15th day of May 2017.
I'
R. Carey Daviy, Mayor
City of San Mmardino
Approved as to form:
Gary D. Saenz, City Attorney
By:
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