HomeMy WebLinkAbout1994-04-11 - RESOLUTIONS - CAPITAL IMPROV SUBSTITUTION (2)RESOLUTION NO. 95-29
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF SANTA CLARITA DESIGNATING THE
SUBSTITUTION OF CAPITAL IMPROVEMENTS ON
EXHIBIT D TO THE FISCAL AGENT AGREEMENT,
BASE LEASE AND LEASE AGREEMENT IN
CONNECTION WITH THE PREVIOUSLY ISSUED
$22,940,000 CERTIFICATES OF PARTICIPATION.
WHEREAS, the City of Santa Clarita, California (the "City), and the
Redevelopment Agency of the City of Santa Clarita (the "Agency") previously
provided funds to finance and/or refinance the acquisition, improvement,
equipping and construction of certain projects by the execution and delivery of
Certificates of Participation (Capital Improvement Projects) Evidencing A
Proportionate Interest of the Owners Thereof In Lease Payments To Be Made
By The City of Santa Clarita (Los Angeles County, California ) To The
Redevelopment Agency of the City of Santa Clarita (the "Certificates"), dated
October 1, 1991, in the principal amount of $22,940,000; and
WHEREAS, in connection with the execution and delivery of the
Certificates there were executed the Fiscal Agent Agreement dated as of
October 1, 1991 (the "Fiscal Agent Agreement"), by and between the City and
the Santa Clarita Public Finance Authority, the Base Lease dated as of
October 1, 1991 (the 'Base Lease"), by and between the City and the Agency,
and the Lease Agreement dated as of October 1, 1991 (the "Lease Agreement"),
by and between the Agency and the City; and
WHEREAS, Exhibit D to the Fiscal Agent Agreement, the Base Lease and
the Lease Agreement describes the projects to be financed and/or refinanced
with the proceeds of the Certificates, and further specifies the designation of
substitute capital improvements by resolution of the City Council of the City;
and
WHEREAS, it is in the best interests of the City to designate the financing
and/or refinancing of certain substitute capital improvements with the proceeds
of the Certificates, pursuant to Exhibit D to the Fiscal Agent Agreement, the
Base Lease and the Lease Agreement;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA
CLARITA, CALIFORNIA, DOES HEREBY RESOLVE, DETERMINE AND
DECLARE AS FOLLOWS:
Section 1. Recitals. The above recitals are all true and correct.
Section 2. Findings and Determinations. The City Council
hereby finds and determines that it is in the best interests of the City to
designate the financing and/or refinancing of certain substitute capital
improvements with the proceeds of the Certificates, pursuant to Exhibit D of
the Fiscal Agent Agreement, the Base Lease and the Lease Agreement.
Section 3. Substitute Proiects. The following capital
improvement is hereby designated as a substitute Project, pursuant to Exhibit
D to the Fiscal Agent Agreement, the Base Lease and the Lease Agreement:
1. Parkland Acquisition.
Section 4. Effectiveness. This Resolution shall take effect
immediately upon its adoption.
PASSED AND ADOPTED by the City Council of the City of Santa Clarita
at a regular meeting held on the llthday of Apri 1 , 1995.
CITY OF SANTA CLARITA,
CALIFORNIA
ATTEST:
CITY CL RK
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss.
CITY OF SANTA CLARITA )
I HEREBY CERTIFY that the foregoing Resolution was duly adopted by
the City Council of the City of Santa Clarita at a regular meeting thereof, held
on the 11th day of Apri 1 , 1995, by the following vote of the Council;
AYES:
COUNCILMEMBERS
NOES:
COUNCILMEMBERS
ABSENT:
COUNCILMEMBERS
ABSTAIN:
COUNCILMEMBERS
Boyer, Heidt, Smyth, Pederson, Darcy
None
None
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