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Home My WebLink AboutRS06-Redevelopment Agency ( ( "I ~' MIN'TES OF THE BOI ") OF ~UPERVISORS OF SAN BERNARDINO COUNTY. CALIFORNIA December 16, 1985 ~ 'Izole~ FROM: THOMAS R. LAURIN, Director Department of Housing and Community Development SUBJECT: APPROVE RESOLUTIONS INDICATING THAT THE COUf'{TY HAS NO OBJECTION TO THE CITY OF SAN BERNARDINO'S ISSUANCE OF UP TO $30,000,000 BONDS FOR UNIVERSITY FACILTIES FOR THE CAMPUS CRUSADE FOR CHRIST INTERNATIONAL CHRISTIAN GRADUATE UNIVERSITY RECOMMENDATION: Approve Resol uti ons No. 85-596 and No. 85-597 indicating that the County has no objecti'on to the City of San Bernardino's issuance of up to $30,000,000 bonds for University facilities for the Campus Crusade for Christ International Christian Graduate University. BACKGROUND INFORMATION: The City of San Bernardino intends to issue $30,000,000 bonds for a University facilities project which will be geographically located in the unincorporated area of the County in the Arrowhead Springs area. Bohd Counsel has recommended that the County indicate that it has no objection to this project. REASON FOR RECOffiENDATION: The City's Bond Counsel has requested this action. This action does not affect existing County authority to issue planning and other approvals with respect to this project. REVIEW BY OTHER DEPARTMENTS: County Counsel (Craig Jordan) has reviewed the documents. FINANCIAL DATA: This action has 110 impact on the Community Development Block Grant Program or the County General Fund. cc: BCD wiRes. EPWA wiRes. Campus Crusade for Christ cf HCD wIRes. City of San Bernardino c/o BCD w/Res. County Counsel wiRes. Audi tor-Controller File Action of :he Board of Supervisors RESOI1JTION 00. 85-596 RESOI1JTlOO NO. 85-597 APPROVED BOARD OF SUPERVISORS COUNTY OF SAN BERNARDINO MOTION XX SECOOD M:YrION Vf\.CANT XX 1 2 3 4 5 MARTHA M, SE':ii)AK. CLERK OF THE BOAR. D 8'/ ~ ~ f;J,,_ /_ THE BOARD OF SUPERVISORS OF THE COUNTY OF SAN BERNARDINO. CALIFORNIA RESOLUTION NO. 85-596 RESOLUTION INDICATING NO OBJECTION TO THE ISSUANCE OF BONDS BY THE CITY OF SAN BERNARDINO TO FINANCE CERTAIN UNIVERSITY HOUSING TO BE CONSTRUCTED AND OWNED BY THE INTERNATIONAL CHRISTIAN GRADUATE UNIVERSITY WHEREAS, The Common Council of the City of San Bernardino (the "City") is a corporate and politic public body, exercising public and essential governmental functions, duly organized and existing under the Constitution and laws of the State of California; and WHEREAS, pursuant to Ordinance No. 3815, dated April 16, 1979, (the "Act"), the Ci ty is authori zed to issue its revenue bonds and to appl y the proceeds of such bonds to make construction and mortgage loans to finance the development of University housing; ilnd WHEREAS, the Uni vers ity wi 11, pri or to the issuance of the bonds, provide information satisfactory to the City th~t the University will provide long-term employment for local residents; and WHEREAS, The International Christian Graduate University, an institution qualifying under Section 501 (c)(3) of the Internal Revenue Code of 1954, as amended (the "Code) ("the Owner"); has requested that the City issue and sell its bonds for the purpose of financing the construction of housing for approximately 200 graduate students and faculty, and their families, of the Owner (the "Project"), to be located in the unincorporated area of the County of San Bernardino at Arrowhead Springs to be constructed by the Owner, and the City wishes to induce the Owner to construct the Project at said location; and WHEREAS, the City plans to adopt a Resolution entitled "Resolution Conditionally Providing For The Issuance Of Bonds To Finance Certain University Housing To Be Constructed And Owned By The International Christian Graduate University", authorizing the issuance of bonds, at one time or from time to time, in an aggregate principal amount not to exceed $15,000,000 to provide financing for the Project; NOW, THEREFORE, BE IT RESOLVED, by the Board of Supervi sors of the County of San Bernardino as follows: 1. The County has no objection to the financing of the Project by the City. 2. This Resolution shall take effect immediately, RESOLtmON 00. 85-596 (CONTho.JED) PASSED AND ADOPTED this 16th 1985, by the following vote: A YES: Riordan, Joyner, M::Elwain; Hanm:x::k day of December , NOES: None . ABSENT: None V1ICI\NT: Fourth District * * * * * * STATE OF CALIFORNIA COUNTY OF SAN BERNARDINO I, MARTHA M. SEKERAK, Clerk of the Board of Supervisors of the County of San Bernardi no, Ca 1 i forni a, hereby certi fy the foregoing to be a full, true and correct copy of the record of the action taken by said County, by vote of the members present, as the same appears in the Official Minutes of said County of its meeting of ~~ 16 , 1985. ~~ ,., /' I; /Ro; 1m 11"",,", lIqR THE BOARD OF SUPERVISORS OF THE COUNTY OF SAN BERNAROINO. CALIFORNIA RESOLUTI ON NO. 85-597 RESOLUTION INDICATING NO OBJECTION TO THE ISSUANCE OF BONDS BY THE CITY OF SAN BERNARDINO TO FINANCE CERTAIN UNIVERSITY FACILITIES TO BE REHABILITATED AND OWNED BY THE INTERNATIONAL CHRISTIAN GRADUATE UNIVERSITY WHEREAS, the Common Council of the City of San Berna rdi no (the "City") is a corporate and politi: pt;bl'i: body. exercising public and essential governmental functions, duly organized and existing under the Constitution and laws of the State of California; and WHEREAS, pursuant to Ord'j nance No. 3815, dated April 16, 1979 (the "Act"), the City may be authorized to issue its revenue bonds and to apply the proceeds of such bonds to make construction of University facilities; and WHEREAS, the University will, prior to the issuance of the bonds, provide information satisfactory to the City that the University will provide long-term employment for local residents; and WHEREAS. The International Christian Graduate University, an institution qualifying under Section 50l(c)(3) of the Internal Revenue Code of 1954, as amended (the "Code") (the "Owner"), has requested that the City issue and sell its bonds for the Ilurpose of financing the acqui- sition and rehabilitation of existing University facilities currently used by Owner in its University activities (the "Project"), to be located in the unincorporated area of the County of San Bernardino at Arrowhead Springs to be acquired and rehabilitated by the Owner, and the City wishes to induce the Owner to acquire and rehabilitate the Project at said location; and WHEREAS, the City plans to adopt a Resolution entitled "Resolution Conditionally Providing For The Issuance Of Bonds To Finance Certain University Facilities To Be Rehabilitated And Owned By The International Christian Graduate University", authorizing the issuance of bonds, at one time or from time to time, in an aggregate principal amount not to exceed $15.000,000 to provide financing for the Project. ,.,/1k/QI; 'V'P: T+-lOn'l. :!!-QR RESOum:OO NO. 85-597'<CC INUED) NOW, THEREFORE, BE IT RESOLVED, by the Board of Supervisors of the County of San Bernardino as follows: Section 1. The County has no objection to the financing of the Project by the City. Section 2. This Resolution shall take effect immediately. PASSED AND ADOPTED thi s 16th by the following vote: day of December , 1985 AYES: Riordan, Joyner, M::Elwain, Harmock NOES: None ' ABSENT: None VACANI': Fourth District * * * * * * STATE OF CALIFORNIA COUNTY OF SAN BERNARDINO I. MARTHA M. SEKERAK, Clerk of the Board of Supervisors of the County of San Bernardino, California, hereby certify the foregoing to be a full, true and correct copy of the record of the action taken by said Board, by vote of the members of said Board, by vote of the members present, as the same appears in the Official t1inutes of said Board of its meeting of December 16, 1985 ~M~~ '~J'~/Q~ VD T~~ ~QQ