HomeMy WebLinkAboutCC Reso No 2015-014 City Council ResoRESOLUTION NO. 2015 -014
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
LAKE ELSINORE, ACTING AS THE LEGISLATIVE BODY
OF CITY OF LAKE ELSINORE COMMUNITY FACILITIES
DISTRICT NO. 2004 -3 (ROSETTA CANYON),
AUTHORIZING THE PREPARATION AND DISTRIBUTION
OF A PRELIMINARY OFFICIAL STATEMENT IN
CONNECTION WITH THE ISSUANCE OF THE LOCAL
AGENCY REFUNDING REVENUE BONDS SERIES 2015
OF THE LAKE ELSINORE PUBLIC FINANCING
AUTHORITY AND TAKING CERTAIN OTHER ACTIONS IN
CONNECTION THEREWITH
WHEREAS, the City Council of the City of Lake Elsinore (the "City "), located in
Riverside County, California (hereinafter sometimes referred to as the "legislative body
of the District "), has heretofore undertaken proceedings to form City of Lake Elsinore
Community Facilities District No. 2004 -3 (Rosetta Canyon) (the "District ") and
Improvement Area Nos. 1 and 2 therein, pursuant to the terms and provisions of the
Mello -Roos Community Facilities Act of 1982, as amended, being Chapter 2.5, Part 1,
Division 2, Title 5 of the Government Code of the State of California (the "Act "); and
WHEREAS, the legislative body of the District previously authorized the issuance
of the "City of Lake Elsinore Community Facilities District No. 2004 -3 (Rosetta Canyon)
Improvement Area No. 1 2015 Special Tax Refunding Bonds" (the "Improvement Area
No. 1 Bonds ") to refund the District's $22,635,000 Special Tax Bonds (Improvement
Area No. 1) 2005 Series A and to finance additional public improvements; and
WHEREAS, the legislative body of the District previously authorized the issuance
of the "City of Lake Elsinore Community Facilities District No. 2004 -3 (Rosetta Canyon)
Improvement Area No. 2 2015 Special Tax Refunding Bonds (the "Improvement Area
No. 2 Bonds" and, together with the Improvement Area No. 1 Bonds, the "2015 Bonds ")
to refund the District's $23,460,000 Special Tax Bonds (Improvement Area No. 2) 2006
Series A and to finance additional public facilities; and
WHEREAS, the Lake Elsinore Public Financing Authority (the "Authority "), for the
purpose of acquiring special tax refunding bonds of certain community facilities districts
of the City, including the 2015 Bonds, the proceeds of which will be utilized to defease
and refund outstanding bonds of such community facilities districts, including the
District, and in certain instances to finance additional public improvements, has
authorized the issuance of its Local Agency Revenue Refunding Bonds Series 2015
(the "Authority Bonds "); and
WHEREAS, in connection with the issuance of the Authority Bonds, the Board of
Directors of the Authority has approved the preparation and distribution of the
Preliminary Official Statement in substantially the form on file with the City Clerk, which
City Council Resolution No 2015 -014
Page 2
Preliminary Official Statement includes certain information relating to the 2015 Bonds
and Improvement Area Nos. 1 and 2 of the District;
NOW,
THEREFORE,
the City
Council, acting as the legislative body of the
District, does
hereby resolve,
order
and
determine as follows:
Section 1. Each of the above recitals is true and correct.
Section 2. The form of the Preliminary Official Statement for the Authority
Bonds presented at this meeting is hereby approved, and the underwriters of the
Authority Bonds are hereby authorized to distribute the Preliminary Official Statement to
prospective purchasers of the Authority Bonds in the form hereby approved, together
with such additions thereto and changes therein as are determined necessary or
desirable by the Mayor, the City Manager, the Director of Administrative Services, or
their written designees (collectively, the "Authorized Officers "), to make such Preliminary
Official Statement final as of its date for purposes of Rule 15c2 -12 of the Securities and
Exchange Commission, including, but not limited to, such additions and changes as are
necessary to make all information set forth therein accurate and not misleading. Any
one of the Authorized Officers is hereby authorized to execute a final Official Statement
in the form of the Preliminary Official Statement, together with such changes as are
determined necessary by the Mayor, the City Manager, the Director of Administrative
Services, and their written designees, to make such Official Statement complete and
accurate as of its date. The underwriters of the Authority Bonds are further authorized
to distribute the final Official Statement for the Authority Bonds and any supplement
thereto to the purchasers thereof upon its execution on behalf of the District as
described above.
Section 3. This Resolution shall take effect immediately upon its adoption.
PASSED, APPROVED AND ADOPTED at a r meeting of the City Council
of the City of Lake Elsinore, California, this 10th da of F 2015.
ATTEST:
anos, Mayor
Virgin a )BlooT\\ City Clerk
\J
APPROVED AS TO FORM
, City Attorney
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
CITY OF LAKE ELSINORE )
I, Virginia Bloom, City Clerk of the City of Lake Elsinore, California, do hereby certify
that Resolution No. 2015 -014 was adopted by the City Council of the City of Lake
Elsinore, California, at a Regular meeting held on the 10th day of February 2015, and
that the same was adopted by the following vote:
AYES: Mayor Pro Tem Tisdale, Council Member Johnson, Council Member
Magee, Council Member Hickman and Mayor Manos
NOES: None
ABSENT: None
ABSTAIN: None p
Virginia Blo6m, City Clerk