HomeMy WebLinkAbout1991-08-27 - RESOLUTIONS - REIMBURSEMENT AND CONSULTANTS (2)S-CLR3-07
RESOLUTION NO. JPA 91-3
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
SANTA CLARITA PUBLIC FINANCING AUTHORITY
PROVIDING FOR REIMBURSEMENT OF PAYMENTS TO BE
MADE IN ANTICIPATION OF THE PROPOSED FINANCING
OF CERTAIN CURRENT AND FORESEEABLE PROJECTS OF
THE CITY AND APPOINTING CERTAIN CONSULTANTS
FOR SUCH FINANCING.
WHEREAS, the City of Santa Clarita, California (the
"City") and the Redevelopment Agency of the City of Santa
Clarita (the "Agency") are considering proceedings for the
acquisition, construction and equipping of certain property
and facilities to be used for municipal purposes of the
City. In connection with such proceedings, the City and the
Agency have formed a joint exercise of powers authority, the
Santa Clarita Public Financing Authority (the "Authority"),
pursuant to Article 1 of Chapter 5 of Division 7 of Title 1
of the Government Code of the State of California in order
that the Authority may, in connection with such proceedings,
exercise the powers authorized under the Marks -Roos Local
Bond Pooling Act of 1985 (Government Code 6584 et sem.) and,
in addition, exercise such powers in cooperation with future
proceedings of such nature undertaken by the City or the
Agency; and
WHEREAS, the Authority is considering the issuance
of local agency revenue bonds to finance certain current and
foreseeable City projects (the "Projects") and has
considered the advisability and necessity of entering into
such financing; and
WHEREAS, the Authority has determined that it is of
benefit to the City that the Projects be accomplished
through the use of tax-exempt financing and will need
certain consultants to accomplish the processing of
documentation and conduct of proceedings.
NOW, THEREFORE, BE IT RESOLVED, BY THE BOARD OF
DIRECTORS OF THE SANTA CLARITA PUBLIC FINANCING AUTHORITY,
AS FOLLOWS:
SECTION 1. Any payments made by the Authority or
by the City from its General Fund in connection with the
Project prior to the consummation of the proposed financing
with local agency revenue bonds or other tax-exempt
financing means are intended to be made strictly in
anticipation of reimbursement therefor from the proceeds of
such financing.
SECTION 2. The law firm of Burke, Williams,
Sorensen & Gaar is hereby appointed as bond counsel to the
Authority in connection with the Project and the issuance of
bonds related thereto. The appropriate officers of the City
and/or Authority are hereby authorized to execute, attest
and deliver an agreement with said firm for services in
connection with the Project and said bonds, the fees of said
firm to be payable from the proceeds of such financing.
SECTION 3. The firm of PaineWebber Incorporated
is hereby appointed as underwriter to the Authority related
thereto. The appropriate officers of the City and/or
Authority are hereby authorized to execute, attest and
deliver an agreement with said firm for services in
connection with the Project and said bonds.
SECTION 4. The firm of Fieldman, Rolapp &
Associates is hereby confirmed as financial advisor in
connection with the Project and the issuance of bonds
related thereto.
SECTION 5. The appropriate officers of the City
and/or Authority, in association with the above -referenced
consultants, are hereby authorized and directed to do any
and all things and take any and all actions and prepare such
documents as shall be necessary or advisable in connection
with such financing proceedings and in accordance with this
Resolution.
SECTION 6. This Resolution shall become effective
immediately upon its adoption.
PASSED, APPROVED AND ADOPTED by the Board of
Directors of the Santa Clarita Public Financing Authority at
a regular meeting held on the 27th day of August
1991.
1 �i
-2-
I George A. Caravalho , Secretary of the Santa
Clarita Public Financing Authority, DO HEREBY CERTIFY that
the foregoing Resolution was duly adopted by the Board of
Directors of the Santa Clarita Public Financing Authority at
a regular meeting thereof, held on the 27th day of
August , 1991, by the following vote:
AYES: DIRECTORS:
NOES: DIRECTORS:
ABSENT: DIRECTORS:
ABSTAIN: DIRECTORS:
Heidt, Klajic, McKeon, Boyer
None
Darcy
None
-3-