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HomeMy WebLinkAbout1984-03-07; Municipal Water District; Resolution 449RESOLUTION NO. 449 RESOLUTION OF THE BOARD OF DIRECTORS OF COSTA REAL MUNICIPAL WATER DISTRICT APPROVING THE FORM AND SUBSTANCE OF INSTALLMENT SALE AGREEMENT AND RELATED LEGAL DOCUMENTS RELATING TO THE THREE RESERVOIRS AND RELATED FACILITIES AND PROPERTY AND APPROVING OFFICIAL STATEMENT AND AUTHORIZING AND DIRECTING CERTAIN ACTIONS WITH RESPECT THERETO RESOLVED, by the Board of Directors of COSTA REAL MUNICIPAL WATER DISTRICT, as follows: WHEREAS, there has been presented to this Board on the date hereof certain legal agreements and an Official Statement relating to Certificates of Participation (the "Certificates") Evidencing Proportionate Interests of the Owners Thereof in Installment Pay- - ments to be Made by the COSTA REAL MUNICIPAL WATER DISTRICT, (the "District"), to a seller to be chosen at a later date by the District (the "Seller"), and this Board has, with the aid of its staff, re- viewed said Official statement and each and every part thereof; and WHEREAS, it is in the public interest and for the public benefit that the form and substance of said legal documents be ap- proved and that the Official Statement be approved; NOW, THEREFORE, IT IS HEREBY ORDERED AND DETERMINED AS FOL- LOWS : r- 1. That the form and substance of that certain Installment Sale Agreement, dated as of May 1, 1984, by and between the District and the Seller, a copy of which is on file in the office of the -1- Secretary of this Board, be and is hereby approved. c 2. That the form and substance of that certain Agency Agreement, dated as of May 1, 1984, by and between the Seller and the District, a copy of which is on file in the off ice of the Secre- tary of the Board, be and is hereby approved. 3. That the form and substance of that certain Trust Agree- ment, dated as of May 1, 1984, by and among a trustee to be chosen at a later date by the District (the "Trustee"), the Seller and the District, a copy of which is on file in the off ice of the Secretary of the Board, be and is hereby approved. 4. That that certain Notice of Sale relating to the terms of the purchase of the Certificates of Participation Evidencing a 7. Proportionate Interest of the Owners Thereof in Installment Payments I to be Made by the COSTA REAL MUNICIPAL WATER DISTRICT, as the Pur- chase Price for Three Reservoirs and Related Facilities and Property Pursuant to an Installment Sale Agreement between the District and the Seller, be and is hereby approved, and the President be, and is hereby, authorized to execute said Agreement, and the Secretary of the Board be, and is hereby, authorized to attest the signature of the President. 5. The facts contained in the Official Statement as pre- sented to this Board on the date hereof are true and correct in all material respects, and the Official Statement contains no untrue statement of a material fact or omits to state any material fact necessary to make any statement therein not misleading in light of - the circumstances under which it was made. -2- 6. The Official Statement is approved for distribution in the offering and sale of the certificates. 7. The President, General Manager, Controller and other qualified officers of the District are authorized to approve cor- rections and additions to the Official Statement by supplement or amendment there to, or by appropriate insert ions in to the Off ic ial Statement, or otherwise as appropriate, provided that any such cor- rections or additions shall be necessary to cause the information contained therein to conform with facts material to the Certificates or to the proceedings of this Board or such corrections or additions are in form rather than in substance. 8. BARTLE WELLS ASSOCIATES, as financial consultant to the District, and on behalf of the District, is authorized and directed 7 to cause the Official Statement to be distributed to such municipal bond broker-dealers, to such banking institutions and to such other persons as may be interested in purchasing the Certificates referred to therein. ~ 9. The President, General Manager, Controller or other ap- propriate officer of the District is authorized and directed to exe- cute said Official Statement and cause to be delivered said Official Statement to the successful bidder for the Certificates of Partici- pation, and a statement that the facts contained in the Official Statement, and any supplement or amendment thereto (which shall be deemed an original part thereof for the purpose of such statement) were, at the time of the sale of the Certificates, and are, as of i the date of delivery of the Certificates, true and correct in all 7 material respects and that the Official Statement did not, at the date of the sale of the Certificates, and does not, as of the date -3- of delivery of the Certificates, contain any untrue statement of a material fact or omit to state material facts required to be stated ,-- where necessary to make a statement not misleading in light of the circumstances under which it was made. The signer shall, with the aid of the staff of the District, take such further actions prior to the signing of the statement as are deemed necessary or appropriate to verify the accuracy of the statement. PASSED, APPROVED AND ADOPTED this 7th day of March, 1984. / N. M. ALMACK President of the Board of Directors of COSTA REAL MUNICIPAL WATER DISTRICT ATTEST: Secretary of the of Directors of COSTA REAL WATER DISTRICT , -4- I- STATE OF CALIFORNIA ) COUNTY OF SAN DIEGO ) ) ss. I, FRED W. MAERKLE, Secretary of the COSTA REAL MUNICIPAL WATER DISTRICT and of the Board of Directors thereof, do hereby certify that the foregoing Resolution was duly adopted by the Board of Directors of said District at a regular meeting of the Board held on the 7th day of March, 1984, and that it was adopted by the following vote: AYES: NOES: ABSENT: Directors: ALMACK, BONAS, KELLY, MAERKLE and MacLEOD Directors: None Directors: None Secretary of FdBoard of Directors of COSTA REAL NICIPAL WATER DISTRICT -5-