HomeMy WebLinkAbout2006-12-12 - RESOLUTIONS - PFA BOND SERIES 2007 GVR (3)_ RESOLUTION NO. 06-114
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA CLARTTA, CALIFORNIA, APPROVING THE ISSUANCE OF
LEASE REVENUE BONDS, SERIES 2007 (GOLDEN VALLEY ROAD), TO BE ISSUED
BY THE SANTA CLARITA PUBLIC FINANCING AUTHORITY, AUTHORIZING AND
APPROVING A SITE AND FACILITIES LEASE, A LEASE AGREEMENT, A
PRELIMINARY OFFICIAL STATEMENT, A FINAL OFFICIAL STATEMENT,
AND A CONTINUING DISCLOSURE AGREEMENT; AND AUTHORIZING THE
TAKING OF CERTAIN OTHER ACTIONS IN CONNECTION THEREWITH
WHEREAS, the City of Santa Clarita (the "City") and the Santa Clarita Redevelopment
Agency (the "Agency") have heretofore entered into a Joint Exercise of Powers Agreement
establishing the Santa Clarita Public Financing Authority (the "Authority") for the purpose,
among other things, of issuing its bonds to be used to provide financing and refinancing for
public capital improvements of the City and the Agency; and
WHEREAS, the City has requested the Authority to issue its Lease Revenue Bonds,
Series 2007 (Golden Valley Road) (the "Bonds") for the purpose of financing the costs of
acquiring right-of-way for a portion of Golden Valley Road within the City in connection with
-- the payment of a judgment by the City (the "Project"); and
WHEREAS, the City has heretofore held a public hearing pursuant to Section 6586.5 of
the California Government Code; and
WHEREAS, the Authority has approved issuance of the Bonds and the use of the
proceeds thereof to finance the Project; and
WHEREAS, the Bonds are to be issued pursuant to the Marks -Roos Local Bond Pooling
Act of 1985 (the "Act"), constituting Article 4 (commencing with Section 6584) of Chapter 5 of
Division 7 of Title 1 of the Government Code of the State of California; and
WHEREAS, the City Council has reviewed the documentation related to the issuance of
the Bonds, which documentation is on file with the City Clerk of the City of Santa Clarita.
NOW, THEREFORE, the City Council of the City of Santa Clarita does hereby resolve as
follows:
SECTION 1. Finding of Significant Public Benefits. The City Council hereby finds that
there are significant public benefits arising from the Authority's issuance of the Bonds to finance
such public capital improvements as contemplated by Section 6586 of the California Government
Code.
SECTION 2. Approval of Recitals. The City hereby finds and determines that the
foregoing recitals are true and correct.
SECTION 3. Approval of Bonds. The City hereby approves the issuance by the
Authority of the Bonds.
SECTION 4. Approval of Site and Facilities Lease. The Site and Facilities Lease, in
substantially the form on file with the City Clerk of the City and presented to the City Council at
this meeting, is hereby approved. Any one of the Mayor, the City Manager and the Director of
Administrative Services, and each of them, and any designee of any of them (each, a
"Responsible Officer"), is hereby authorized and directed, for and in the name and on behalf of
the City, to execute and deliver, the Site and Facilities Lease, with such insertions and changes as
may be approved by the Responsible Officer executing the same, with the advice of Bond
Counsel, subject to the provisions of this Resolution, such approval to be conclusively evidenced
by such execution and delivery, and the City Clerk is hereby authorized to attest to such
execution.
SECTION 5. Approval of the Lease Agreement. The Lease Agreement, in substantially
the form on file with the City Clerk of the City and presented to the City Council at this meeting,
is hereby approved. Any Responsible Officer is hereby authorized to execute the Lease
Agreement in substantially the form annexed hereto, with such revisions, amendments and
completions as shall be approved by a Responsible Officer, with the advice of Bond Counsel,
such approval to be conclusively evidenced by the execution and delivery thereof, and the City
Clerk is hereby authorized to attest to such execution.
SECTION 6. Approval of the Preliminary Official Statement and the Official Statement.
The Preliminary Official Statement, in substantially the form on file with the City Clerk of the
City and presented to the City Council at this meeting, is hereby approved with such revisions,
amendments and completions as shall be approved by a Responsible Officer, with the advice of
Bond and Disclosure 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.
SECTION 7. Approval of the Continuing Disclosure Agreement. The Continuing
Disclosure Agreement, in substantially the form on file with the City Clerk of the City and
presented to the City Council at this meeting, is hereby approved. Any Responsible Officer is
hereby authorized to execute the Continuing Disclosure Agreement in substantially the form
annexed hereto, with such revisions, amendments and completions as shall be approved by a
Responsible Officer, with the advice of Bond Counsel, such approval to be conclusively
evidenced by the execution and delivery thereof.
SECTION 8. Official Actions. The Mayor, the City Manager, the Director of
Administrative Services, the 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, procurement of municipal bond insurance and reserve
fund surety bond, and execution and delivery of any and all assignments, certificates,
requisitions, agreements, notices, consents, instruments of conveyance, warrants and other
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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 9. Effective Date. This Resolution shall take effect from and after the date of its
passage and adoption.
PASSED, APPROVED AND ADOPTED this 12th day of December, 2006.
ATTEST:
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 Council of the City of Santa Clarita at a
regular meeting thereof, held on the 12th day of December, 2006, by the following vote:
AYES: COUNCRyIEMBERS: Weste, Ferry, Kellar, McLean
NOES: COUNCILMEMBERS: None
ABSENT: COUNCII MEMBERS: None
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STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss.
CITY OF SANTA CLARI TA )
CERTIFICATION OF
CITY COUNCIL RESOLUTION
I, Sharon L. Dawson, City Clerk of the City of Santa Clarita, do hereby certify that this is a true
and correct copy of the original Resolution No. 06-114, adopted by the City Council of the City
of Santa Clarita, California on December 12, 2006, which is now on file in my office.
Witness my hand and seal of the City of Santa Clarita, California, this _ day of
20_.
Sharon L. Dawson, CMC
City Clerk
By
Susan Coffman
Deputy City Clerk