HomeMy WebLinkAbout1995-09-05; City Council; Resolution 95-247) I1 0 0
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RESOLUTION NO. 95-247
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD,
CALIFORNIA, AUTHORIZING ISSUANCE OF BONDS AND APPROVING FORMS OF BOND DOCUMENTS FOR A SPECIAL ASSESSMENT DISTRICT
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WHEREAS, the CITY COUNCIL of the CITY OF CARLSE
CALIFORNIA, is conducting proceedings for the installation
certain public improvements in a special assessment distr
711pursuant to the terms and provisions of the I'Municj
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Improvement Act of 19131t, being Division 12 of the Streets
Highways Code of the State of California, said spec
assessment district known and designated as ASSESSMENT DISTl
"IlNO. 92-1 (LA COSTA DOWNS) (hereinafter referred to as
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"Assessment District") ; and,
WHEREAS, this legislative body has previously declarec
141( its Resolution of Intention to issue bonds to finance I
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improvements, said bonds to issue pursuant to the terms
provisions of the llImprovement Act of 191111, being Division
said Code; and,
WHEREAS, at this time this legislative body is desirou
set forth the general terms and conditions relating to
authorization, issuance and administration of said bonds;
WHEREAS, there has been presented, considered and is I
for approval a bond indenture setting forth the terms
conditions relating to the issuance and sale of bonds; anc
WHEREAS, there has been presented for consideration by
legislative body a form of Bond Purchase Contract author:
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the sale of bonds to Stone & Youngberg, the desigl
underwriter; and,
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1 11 WHEREAS, this legislative body hereby determines that
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unpaid assessments shall be specifically in the amount as sh
and set forth in the Certificate of Paid and Unpaid Assessme
as certified by and on file with the Treasurer, and
particulars as to the amount of said unpaid assessments, s
Certificate and list shall control and govern.
NOW, THEREFORE, IT IS HEREBY RESOLVED AS FOLLOWS:
RECITALS
SECTION 1. That the above recitals are true and correct
BOND AUTHORIZATION
SECTION 2. That this legislative body does authorize
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Indenture presented herein. 18
the specific terms and conditions as set forth in the 17
Highways Code of the State of California, and also pursuan 16
llImprovement Act of 1911", being Division 7 of the Streets 15
unpaid assessments pursuant to the terms and provisions of 14
amount not to exceed the aggregate principal amount of 13
issuance of special assessment bonds in an aggregate princ
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20 SECTION 3. That the Bond Indenture is approved substantj
BOND INDENTURE
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delivery thereof. A copy of said Bond Indenture shall be 27
Director to be conclusively evidenced by the executior 26
the review of Bond Counsel, such approval by the Fi 25
therein as may be approved by the Finance Director, subje 24
the Bond Indenture with such additions thereto or ch. 23
authorized and directed for and on behalf of the City to ex1 22
in the form presented herein. The Finance Director is hc
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public inspection. 2
Zon file with the transcript of these proceedings and open
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SECTION 4. That the Bond Purchase Contract as submitted 4
BOND PURCHASE CONTRACT
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approved substantially in the form presented herein. The Fina 6
Stone & Youngberg, the designated underwriter, is her
as are approved by the Finance Director, such approval by 11
to the City Council at this meeting, with such changes ther 10
provisions of the Bond Purchase Contract in the form presen 9
the City to evidence the City's acceptance of the terms 8
Director is hereby authorized and directed for and on behalf 7
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Finance Director to be conclusively evidenced by the execut
and delivery thereof; provided, however, the Finance Direc
shall execute the Bond Purchase Contract only if the aggres
principal amount of the Bonds is equal to the unpaid assessmc
within the Assessment District, the underwriter's discount c
not exceed $30,000.00 and the interest rate on the Bonds SI
not exceed nine percent (9%) per annum.
FINAL BOND DELIVERY
SECTION 5. No further action will be required by -
legislative body if the bonds are priced, sold and delivere
or prior to December 31, 1995.
FINAL ASSESSMENTS
SECTION 6. That the Certificate of Paid and Un
Assessments, as certified by the Treasurer, shall remain on
in that off ice and be open for public inspection for
particulars as it relates to the amount of unpaid assessment
secure bonds for this Assessment District.
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SECTION 7. All actions heretofore taken by the officers 2
OTHER ACTS
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all certificates, requisitions, agreements and other docume 9
all actions relating to the execution and delivery of any 8
behalf of the City, to do any and all things and take any 7
hereby authorized and directed, for and in the name and 6
Finance Director and any and all other officers of the City 5
bonds are hereby approved, confirmed and ratified, and 4
agents of the City with respect to the sale and issuance of
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accordance with this resolution. 12
consummate the lawful issuance and delivery of the bonds 11
which they may deem necessary or advisable in order
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APPROVED and ADOPTED this
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CITY OF CARLSBAD STATE OF CALIFORNIA
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19 CITY OF CARLSBAD
CITY CLERK
STATE OF CALIFORNIA
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STATE OF CALIFORNIA COUNTY OF SAN DIEGO
CITY OF CARLSBAD
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~ I, ALETHA RAUTENKRANZ, CITY CLERK of the CITY OF CARLSE
CALIFORNIA, DO HEREBY CERTIFY that the foregoing Resoluti
being Resolution No. 95-247 , was duly passed, approved
adopted by the City Council, approved and.signed by the Mal
and attested by the City Clerk, all at the regular meetin?
said City Council held on the 5th day of September
1995, and that the same was passed and adopted by the follos
vote:
AYES : COUNCIL MEMBERS Lewis, Nygaard, Finnila, Hall
NOES : COUNCIL MEMBERS
ABSENT: COUNCIL MEMBERS Kulchin
ABSTAIN: COUNCIL MEMBERS
EXECUTED this 7th day of September , 1995,
Carlsbad, California.
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CITY OF CARLSBAD
STATE OF CALIFORNIA
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