HomeMy WebLinkAboutCC Reso No 2015-018 City Council ResoN:6101ItiyI Is] kq Ikg1*11pill M111 K
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. 2003 -2 (CANYON HILLS), 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. 2003 -2 (Canyon Hills) (the "District ") and Improvement
Area B 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. 2003 -2 (Canyon Hills)
Improvement Area B 2015 Special Tax Refunding Bonds" (the "2015 Bonds ") to refund
the District's $20,570,000 Special Tax Bonds (Improvement Area B) 2006 Series A and
to finance additional public improvements; 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
Preliminary Official Statement includes certain information relating to the 2015 Bonds
and Improvement Area B 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.
City Council Resolution No 2015 -018
Page 2
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 reALLIpfIrreeting of the City Council
of the City of Lake Elsinore, California, this 10th da o F ry, 2015.
Mayor
ATTEST:
j
Virginia Bloo U , City Clerk
APPROVED AS TO
Zeid keiliold; 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 -018 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 Tern Tisdale, Council
Member Johnson,
Council Member
Magee, Council Member Hickman and
Mayor Manos
NOES:
None
ABSENT:
None
ABSTAIN:
None
Virgini
. Blool#
, uity Clerk