HomeMy WebLinkAboutSA Reso 2018-012 Tax Allocation Bonds 2018C & Preliminary Official StatementRESOLUTION NO. 2018 -012
A RESOLUTION OF THE SUCCESSOR AGENCY OF THE REDEVELOPMENT
AGENCY OF THE CITY OF LAKE ELSINORE, CALIFORNIA, APPROVING THE FORM
OF A PRELIMINARY OFFICIAL STATEMENT IN CONNECTION WITH THE
SUCCESSOR AGENCY'S SUBORDINATED TAX ALLOCATION REFUNDING BONDS,
SERIES 2018C, AND AUTHORIZING CERTAIN OTHER ACTIONS IN CONNECTION
THEREWITH
Whereas, by SA Resolution No. 2018 -010 adopted on June 26, 2018, (Successor Agency
Resolution), the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore
(Successor Agency) approved the issuance of its Subordinated Tax Allocation Refunding Bonds,
Series 2018C (Bonds) for the purpose of refunding certain obligations of the Redevelopment
Agency of the City of Lake Elsinore (Prior Obligations), and wishes at this time to approve a
Preliminary Official Statement in connection with the marketing of the Bonds; and;
Whereas, the Oversight Board to the Successor Agency of the Redevelopment Agency of the
City of Lake Elsinore (Oversight Board) has approved the issuance of the Bonds by a Resolution
adopted at its meeting on June 28, 2018 (Oversight Board Action); and;
Whereas, the Oversight Board Action is under review by the California Department of Finance.
NOW, THEREFORE, THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF
THE CITY OF LAKE ELSNINORE, DOES HEREBY RESOLVE AS FOLLOWS:
Section 1. The Preliminary Official Statement relating to the Bonds (Preliminary Official
Statement), in the form presented at this meeting and on file with the Secretary, is hereby
approved. Each of the Executive Director and Assistant Executive Director, acting alone, is
authorized to sign a certificate pursuant to Rule 15c2 -12 promulgated under the Securities
Exchange Act of 1934 relating to said Preliminary Official Statement, and each of the Executive
Director and Assistant Executive Director, acting alone, is further authorized and directed to
execute, approve and deliver the final Official Statement in the form of the Preliminary Official
Statement, with such changes, insertions and omissions as may be recommended by Successor
Agency general counsel or Stradling Yocca Carlson & Rauth, a Professional Corporation (Bond
Counsel), and approved by the officer executing the same, said execution being conclusive
evidence of such approval. Stifel, Nicolaus & Company (Underwriter) is hereby authorized to
distribute the Preliminary Official Statement to prospective purchasers of the Bonds and is
directed to deliver copies of any final Official Statement to all actual purchasers of the Bonds.
Section 2. The Authorized Officers (defined in the Successor Agency Resolution) and all other
officers of the Successor Agency are hereby authorized, jointly and severally, to execute and
deliver any and all necessary documents and instruments and to take all actions which they deem
necessary or proper to effectuate the purposes of this Resolution and the Successor Agency
Resolution and the issuance of the Bonds.
Section 3. This Resolution shall take effect immediately upon its adoption by the governing board
of the Successor Agency, and the Secretary shall certify the vote adopting this Resolution.
SA Reso No. 2018 -012
Page 2 of 2
Passed and Adopted on this 14th day of August 2018.
Attest:
Susan M. Domen, MMC
Agency Clerk
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
CITY OF LAKE ELSINROE )
I, Susan M. Domen, MC, Secretary of the Successor Agency of the Redevelopment Agency of
the City of Lake Elsinore, California, hereby certify that Resolution No. 2018 -012 was adopted by
the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore at a Regular
meeting held on August 14, 2018, by the following vote:
AYES: Members Hickman, Magee and Tisdale; Vice -Chair Manos and Chair Johnson
NOES: None -
ABSENT: None
ABSTAIN: None
Susan M. Domen, MMC
Agency Clerk