HomeMy WebLinkAbout2009-10-27 - AGENDA REPORTS - CHILD AND FAMILY CENTER BONDS (2)PUBLIC HEARING
DATE:
SUBJECT:
DEPARTMENT
Agenda Item:
CITY OF SANTA CLARITA
AGENDA REPORT
City Manager Approval:
Item to be presented by:
October 27, 2009
13
ISSUANCE OF BONDS BY THE CALIFORNIA STATEWIDE
COMMUNITIES DEVELOPMENT AUTHORITY FOR THE
CHILD & FAMILY CENTER
Administrative Services
RECOMMENDED ACTION
City Council conduct a public hearing and adopt a resolution approving the issuance of bonds by
the California Statewide Communities Development Authority for the Child & Family Center.
BACKGROUND;
The Child & Family Center (the "Applicant") has submitted to the California Statewide
Communities Development Authority ("CSCDA") an application (the "Application") for the
refinancing of certain outpatient mental healthcare facilities (the "Project") through the issuance
of tax-exempt obligations in an aggregate principal amount not to exceed $4,300,000. The
Project will utilize the bonds to refinance the acquisition, construction, rehabilitation, and
improvement of property, including real and personal property, to be used as, or as part of, a
community mental health clinic at its facility located at 21545 Center Pointe Parkway to the City
of Santa Clarita.
CSCDA is a joint exercise of powers authority consisting of over 500 California cities, counties
and special districts, including the City of Santa Clarita. CSCDA, pursuant to its Amended and
Restated Joint Exercise of Powers Agreement, is authorized to assist in the financing of facilities
for nonprofit organizations.
In order to initiate such a financing, the member participant of California Statewide
Communities Development Authority in which the proposed facilities will be located must 1)
conduct a public hearing, and 2) approve the CSCDA's issuance of indebtedness. Therefore,
although California Statewide Communities Development Authority will be the issuer of the
Adopted.,,
tax-exempt revenue obligations for the Applicant, the financing cannot proceed without the City
of Santa Clarita's approval of the financing.
ALTERNATIVE ACTIONS
Other action as determined by Council.
FISCAL IMPACT
The Borrower is The Child & Family Center and shall be responsible for the payment of all
present and future costs in connection with the issuance of the obligations. The payment of the
principal and purchase price of and interest on the obligations shall be solely the responsibility of
the Borrower. The obligations shall not constitute a debt or obligation of California Statewide
Communities Development Authority or the City.
ATTACHMENTS
Resolution Approving the Issuance of Bonds by the California Communities Development
Authority for The Child & Family Center
FI
CITY OF SANTA CLARITA
NOTICE OF PUBLIC HEARING
NOTICE IS HEREBY GIVEN that a public hearing will be conducted by the City
Council (the "City Council") of the City of Santa Clarita (the "City") on October 27, 2009, at 6
o'clock p.m., or as soon thereafter as the matter may be heard, at the Santa Clarita City Hall,
Council Chambers, 23920 Valencia Blvd., 1 st Floor, Santa Clarita, California, 91355, concerning
the issuance by California Statewide Communities Development Authority (the "Issuer") of its
tax-exempt obligations in an aggregate principal amount not expected to exceed $4,300,000 (the
"Obligations"). Proceeds of the Obligations are to be made available to Child & Family Center,
a nonprofit public benefit corporation described in Section 501(c)(3) of the Internal Revenue
Code of 1986, or an affiliate (the "Borrower"), to prepay all of the outstanding principal amount
of the Issuer's 501(c)(3) Land, Building and Equipment Program Notes (Child & Family Center
Project), Series 2005-2A and Series 2005-213, the proceeds of which were used to finance and
refinance the acquisition, construction, rehabilitation and improvement of real and personal
property used as a part of the Borrower's community mental health clinic providing counseling,
substance abuse services, treatment, education and therapy of emotional and behavioral problems
for children and families, which is owned and used by the Borrower and located at 21545 Centre
Pointe Parkway, Santa Clarita, California.
Neither the faith and credit nor any taxing power of the City, the Authority, the State of
California (the "State") or any other political corporation, subdivision or agency of the State is
pledged to the payment of the principal of or premium, if any, or interest with respect to the
Obligations, nor shall the County, the State or any other political corporation, subdivision or
agency of the State be liable or obligated to pay the principal of or premium, if any, or interest on
the Obligations.
The public hearing is intended to comply with the public approval requirements of
Section 147(f) of the Internal Revenue Code of 1986.
Those wishing to comment on the Obligations or on the nature and location of the
facilities to be refinanced may either appear in person at the time and place indicated above or
submit written comments, which must be received prior to the public hearing at the address
indicated above.
Dated: October 9, 2009
Sharon L. Dawson, MMC
City Clerk
Publish Date: October 13, 2009
S\uta\pubk I Itanngs\09 Child family not - hnal dnt
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RESOLUTION 09-
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA CLARITA, CALIFORNIA, APPROVING THE ISSUANCE OF
TAX-EXEMPT OBLIGATIONS BY THE CALIFORNIA STATEWIDE
COMMUNITIES DEVELOPMENT AUTHORITY FOR THE PURPOSE OF
REFINANCING THE ACQUISITION, CONSTRUCTION, REHABILITATION,
AND IMPROVEMENT OF PROPERTY, INCLUDING REAL AND
PERSONAL PROPERTY, TO BE USED AS, OR AS PART OF, A
COMMUNITY MENTAL HEALTH CLINIC AND CERTAIN OTHER
MATTERS RELATED THERETO
WHEREAS, pursuant to the Joint Powers Act, comprising of Article 1, Article 2 and
Article 3 of Chapter 5 of Division 7 of Title 1 (commencing with Section 6500) of the
Government Code of the State of California, a number of California cities and counties
("Program Participants"), including the City of Santa Clarita, California (the "City" or "Local
Government Participant"), have entered into an Amended and Restated Joint Exercise of
Powers Agreement dated as of June 1, 1988 (the "Joint Powers Agreement"), under which the
California Statewide Communities Development Authority ("Issuer") was organized; and
WHEREAS, the Issuer is authorized by the Joint Powers Agreement to issue bonds, notes
or other evidences of indebtedness, or certificates of participation in leases or other financing
agreements, in order to promote economic development; and
WHEREAS, the Issuer is also authorized, by a resolution adopted March 21, 1991, to
issue bonds, notes or other evidences of indebtedness, or certificates of participation in leases or
other agreements to finance or refinance facilities owned and operated by organizations described
in Section 501(c)(3) of the Internal Revenue Code of 1986 and which are determined by the
Issuer to satisfy the criteria set forth in the resolution. In 1991, the California Superior Court
entered a judgment validating the resolution (and therefore the Issuer's authority to act as an
issuer in Section 501(c)(3) financings); and
WHEREAS, Section 147(f) of the Internal Revenue Code of 1986 (the "Code") requires
that the proposed "financing be approved by a governmental unit having jurisdiction over the area
in which the project to be financed is located or is to be located. A financing will be treated as
having been approved by a governmental unit if it is approved "by the applicable elected
representative of such governmental unit after a public hearing following reasonable public
notice" and
WHEREAS, Child & Family Center (the "Borrower") has requested that the Issuer issue
its notes, bonds or any other evidence of indebtedness (the "Obligations") in an aggregate
principal amount not expected to exceed the Maximum Principal Amount of $4,300,000 for
the purpose of providing funds to refinance the acquisition, construction, rehabilitation, and
improvement of property, including real and personal property, to be used as, or as part of, a
community mental health clinic (the "Project') and pay related costs; and
WHEREAS, the Issuer has requested that the governing body of the Local Government
Participant approve the issuance of the Obligations and the Project in order to satisfy the public
approval requirement of Section 147(f) of Code, and the requirements of Section 9 of the Joint
Powers Agreement; and
WHEREAS, there has been published, at least 14 days prior to the date hereof (the
"Public Hearing Date"), in a newspaper of general circulation within the City, a notice that a
public hearing regarding the issuance of the Obligations and the Project will be held on the
Public Hearing Date; and
WHEREAS, the Local Government Participant held a public hearing on the Public
Hearing Date providing a reasonable opportunity for persons to comment on the issuance of the
Obligations and the Project; and
- WHEREAS, it is intended that this resolution shall constitute the approval of the
issuance of the Obligations and the Project required by Section 147(f) of the Code, Section 9 of
the Joint Powers Agreement and Section 91530(f) of the Government Code of the State of
California.
NOW, THEREFORE, the City Council of the City of Santa Clarita does hereby resolve as
follows:
SECTION 1. The above recitals are true and correct.
SECTION 2. The City Council hereby approves the issuance of the Obligations and the
Project for the purposes of Section 147(f) of the Code and Section 9 of the Joint Powers
Agreement.
SECTION 3. This resolution shall take effect immediately upon its adoption.
SECTION 4. The City Clerk shall certify the adoption of this Resolution.
PASSED, APPROVED, AND ADOPTED this day of , 2009.
ATTEST:
CITY CLERK
MAYOR
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss.
CITY OF SANTA CLARITA )
I, Sharon L. Dawson, MMC, 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 day of 2009, by the following vote:
AYES: COUNCILMEMBERS:
NOES: COUNCILMEMBERS:
ABSENT: COUNCILMEMBERS:
CITY CLERK
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss.
CITY OF SANTA CLARITA )
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 09- adopted by the City Council of the City of
Santa Clarita, California on , 2009, which is now on file in my office.
Witness my hand and seal of the City of Santa Clarita, California, this day of
, 2009.
Sharon L. Dawson, MMC
City Clerk
By
Susan Caputo, CMC
Deputy City Clerk