HomeMy WebLinkAbout1989-03-21; City Council; NS-54; Encina Financing JPA to issue revenue bonds not over $50,000,000...1
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ORDINANCE NO. NS-54
ORDINANCE OF THE CITY OF CARLSBAD, SAN DIEGO COUNTY, CALIFORNIA, AUTHORIZING THE ENCINA FINANCING JOINT POWERS AUTHORITY TO ISSUE REVENUE BONDS IN AN AMOUNT NOT TO EXCEED $50,000,000.
RECLIACS
7 WHEREAS, the City of Carlsbad (the "City"), the City of Vista, the
Buena Sanitation District, and the Leucadia County Water District entered
into or will enter into a Joint Exercise of Powers Agreement in March of
1989 (the "Agreement") creating the Encina Financing Joint Powers Authority
(the "Authority":) pursuant to the provisions of Article 1, Chapter 5,
Division 7, Title 1 of the Government Code of the State of California (the
"Act") ; and
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WHEREAS, the purpose of the Agreement is to provide for the financing
of facilities to provide for the collection, treatment and disposal of
wastewater, appurtenances and appurtenant works, specifically as it re1 ates
to the Encina Water Pollution Control Facility ("EWPCF"); and
WHEREAS, the City has executed and passed the Thirty-Ninth Supplement
to the Basic Agreement to Provide For Allocation Of Capacity And Costs of
the Encina Phase IV Expansion, which allocates the cost of certain
improvements to the EWPCF among the owners thereof; and
WHEREAS, pursuant to Section 6547 of the Government Code of the State
of Cal ifornia, the power of the Authority to issue revenue bonds shall not
be exercised until authorized by the parties to the Agreement; and
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Carl sbad, DOES ORDAIN as fol 1 ows:
SECTION 1: Subject to the lawful existence of the Authority, the
Authority is hereby authorized to issue revenue bonds in an amount not to
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exceed $50,000,000 for the purpose of financing a1 1 or part of each member's
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share of the cost of the expansion of capacity of the Encina Water Pollution
Control Facil ity. The bonds are to be secured from, and only from, revenues
4 coll ected from the respective sewer enterprises of the respective members ,
5 and such other funds as each member may make available for such payment.
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SECTION 2: This Ordinance shall be subject to the provisions for
referendum appl ilcabl e to general 1 aw cities.
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SECTION 4: The City Clerk is authorized and directed to publish a 10
SECTION 3: This Ordinance shall become effective thirty (30) days
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PASSED, APPROVED AND ADOPTED by the Carlsbad City Council at a regular 18
Council on the " 1.4th day of March , 1989, and thereafter 17
INTRODUCED AND FIRST READ at a regular meeting of the Carlsbad City 16
Ordinance. l5
days of the posting or publication shall not affect the validity of this l4
office of the City, said publication and posting to be within fifteen (15) I.3
in the City and to post a copy of this notice on the bulletin board of the I-2
copy of this Ordinance once in a newspaper of general circul ation pub1 i shed
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following vote, to wit: 20
I meeting thereof he1 d on the 21st day of March , 1989, by the
AYES: Council Members Kulchin, Pettine, Mamaux and Larson
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ABSENT: Council Member Le .
25 ATTEST: ANN J. KULCHIN, Mayor Pro-Tem
NOTES : None
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LkzL L,Q& ALETHA L. RAUTENKRANZ, City Clerkj
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