HomeMy WebLinkAbout1995-12-12 - RESOLUTIONS - CAPITAL IMPROV SUBSTITUTION (2)RESOLUTION NO. 95-149
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. Findin¢s 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
improvements is hereby designated as a substitute Project, pursuant to Exhibit D of
the Fiscal Agent Agreement, the Base Lease and the Lease Agreement:
1. Sierra Slope Repair
2. Dalbey Road Repair
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 12th day of December 1995.
CITY OF SANTA CLARITA,
CALIFORNIA
ATTEST:
CIT LERK
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
i?th day of na, m per , 1995, by the following vote of the City Council:
AYES:
NOES:
ABSENT:
flNwundV95-149
COUNCILMEMBERS:
COUNCILMEMBERS:
COUNCILMEMBERS:
Beidt, Smyth, Pederson, Darcy, Boyer
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