HomeMy WebLinkAbout1999-12-14 - RESOLUTIONS - VERMONT/EVERETT ASMT DIST 99-1 (2)RESOLUTION NO. wrg_ 12
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF SANTA CLARITA, CALIFORNIA
AUTHORIZING THE ISSUANCE OF CITY OF SANTA CLARITA
ASSESSMENT DISTRICT NO. 99-1
(VERMONT DRIVE/EVERETT DRIVE IMPROVEMENTS),
LIMITED OBLIGATION IMPROVEMENT BONDS, SERIES 1999,
AND APPROVE TO FORM, THE EXECUTION AND DELIVERY OF
A FISCAL AGENT AGREEMENT, A BOND PURCHASE AGREEMENT,
AN OFFICIAL STATEMENT, AND A PRELIMINARY OFFICIAL
STATEMENT IN CONNECTION THEREWITH
WHEREAS, the City Council, by its Resolution No. 99-8 ("Resolution of Intention"),
declared its intention to order the improvements for proposed Assessment District No. 99-1
(Vermont Drive/Everett Drive) ("Assessment District") pursuant to the provisions of the
Municipal Improvement Act of 1913 (California Streets and Highways Code Section 10000,
et seq.) ("1913 Act") and as provided in Article XIIID of the California Constitution, and
ordered the Engineer of Work to prepare and file a report ("Engineer's Report") with the
City Clerk in accordance with Section 10204 of the 1913 Act and Section 4 of Article XIIID
of the California Constitution; and
WHEREAS, the City Council, by its Resolution No. 99-9, preliminarily approved the
Engineer's Report, which Engineer's Report is on file in the office of the City Clerk; and
WHEREAS, on March 9, 1999, following notice duly given in accordance with law, the City
Council held a full and fair public hearing on the Resolution of Intention and the Engineer's
Report, and regarding protests and objections thereto, and to the proposed improvements in
connection with the Assessment District; and
WHEREAS, immediately following such public hearing, the City Council, by its Resolution
No. 99-36, ordered the construction of the proposed improvements and confirmed the
proposed assessment against parcels within the Assessment District; and
WHEREAS, the City Council filed an Assessment Diagram and Notice of Assessment
relating to the original boundaries of the Assessment District on May 10, 1999, in the office
of the County Recorder of the County of Los Angeles; and
WHEREAS, on June 8, 1999, the City Council approved an amended Engineer's Report to
amend the boundary of the Assessment District ("Amended Engineer's Report"), which
Amended Engineer's Report is on file in the office of the City Clerk; and
WHEREAS, subsequently thereafter, the City Council filed an Amended Assessment
Diagram and Amendment No. 1 to Notice of Assessment on June 15, 1999, in the office of
^. the County Recorder of the County of Los Angeles; and
RESOLUTION NO.99-19 7
December 14, 1999 - Page 2
WHEREAS, the 30 -day cash collection period within which assessments are to be paid has
expired for all of the owners of property subject to assessment for the improvements
described in the Amended Engineer's Report; and
WHEREAS, notice to property owners of the recordation of the assessment has been given;
and
WHEREAS, the City Council has previously determined, by separate resolution, the
amount of assessments remaining unpaid; and
WHEREAS, proposed forms of a) a fiscal agent agreement by and between the City and a
fiscal agent to be determined ("Fiscal Agent Agreement"); b) a bond purchase agreement by
and between the City and an underwriter to be determined (`Bond Purchase Agreement");
and c) a preliminary official statement in connection with the sale of bonds ("Preliminary
Official Statement"), have been presented to City Council and are on file with the City
Clerk.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA CLARITA does
resolve as follows:
SECTION 1: Authorization. The City Council hereby authorizes the issuance of City of
Santa Clarita Assessment District No. 99-1 (Vermont Drive/Everett Drive Improvements),
Limited Obligation Improvement Bonds, Series 1999 ("Bonds") in an amount not -to -exceed
the amount of unpaid assessments.
SECTION 2: Approval of Fiscal Agent Agreement. The City Council hereby approves the
Fiscal Agent Agreement in substantially the form on file with the City Clerk. The Mayor,
City Manager, and Director of Administrative Services (each, a "Responsible Officer"), are
hereby authorized to execute the Fiscal Agent Agreement in substantially the form
presented hereto, with such revisions, amendments, and completions as shall be approved
by any Responsible Officer, with the advice of Bond Counsel, such approval to be
conclusively evidenced by the execution and delivery thereof by any Responsible Officer.
SECTION 3: Approval of the Preliminary Official Statement and Official Statement. The
City Council hereby approves the Preliminary Official Statement relating to the Bonds,
substantially in the form presented hereto, with such revisions, amendments, and
completions as shall be approved by any Responsible Officer with the advice of Bond
Counsel, in order to make the Preliminary Official Statement final as of its date, except for
the omission of certain information, as permitted by Section 240.15c2 -12(b)(1) of Title 17 of
the Code of Federal Regulations ("Rule 15c2-12"), and any certificate relating to the finality
of the Official Statement under Rule 15c2-12. Any Responsible Officer of the City is
authorized and directed to execute and deliver a final Official Statement in substantially
the form hereby approved, with such additions and changes as may be approved by Bond
Counsel and any Responsible Officer executing the same, such approval to be conclusively
evidenced by the execution and delivery thereof.
RESOLUTIONNO. Qq -1q7
December 14, 1999 - Page 3
SECTION 4: Approval of the Bond Purchase Agreement. The City Council hereby
approves the Bond Purchase Agreement, in substantially the form on file with the City
Clerk. Any Responsible Officer is hereby authorized jointly to execute the Bond Purchase
Agreement, in substantially the form presented hereto, with such revisions, amendments,
and completions as shall be approved by any Responsible Officer, with the advice of Bond
Counsel, such approval to be conclusively evidenced by the execution and delivery thereof
by any Responsible Officer, provided that, the Bond Purchase Agreement shall provide for a
true interest cost (including original issue shown) not greater than eight percent, and an
underwriter's discount not greater than three percent of the principal amount of Bonds.
SECTION 5: Official Actions. The City Manager, Director of Administrative Services, City
Clerk, and all other officers of the City, are hereby authorized and directed, for and in the
name and on behalf of the City, to do any and all things and take any and all other actions,
including the publication of any notices necessary or desirable in connection with the sale of
the Bonds and execution and delivery of any and all assignments, certificates, requisitions,
agreements, notices, consents, instruments of conveyance, warrants, and other documents,
which they, or any of them, deem necessary or advisable in order to consummate the lawful
issuance and sale of the Bonds and the consummation of the transactions as described
herein.
SECTION 6. Effective Date. This resolution shall take effect from and after the date of its
passage and adoption.
PASSED, APPROVED, AND ADOPTED this 14th day of nP�b rI999.
ME#or
ATTEST:
CITY CLERK
RESOLUTION NO. 99-197
December 14, 1999 - Page 4
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES) ss
CITY OF SANTA CLARITA )
I, Sharon L. Dawson, CMC. City Clerk of the City of Santa Clarita, do hereby certify that
the foregoing Resolution was duly adopted by the City of Santa Clarita at a regular meeting
thereof, held on the 14th day of Decembe F1999 by the following vote of Council:
AYES: COUNCILMEMBERS: weste', Klajic, Heidt, Ferry, Darcy
NOES: COUNCILMEMBERS: None
ABSENT: COUNCILMEMBERS: None
CITY CLERK
CCP:FO:hds
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