HomeMy WebLinkAboutSA Reso No 2020-009 Preliminary Official Statement for 2020 BondsRESOLUTION NO. SA 2020-9
A RESOLUTION OF THE SUCCESSOR AGENCY OF THE REDEVELOPMENT
AGENCY OF THE CITY OF LAKE ELSINORE, CALIFORNIA, APPROVING THE
FORM OF THE PRELIMINARY OFFICIAL STATEMENT FOR THE 2020 BONDS
TO DEEM IT FINAL UNDER RULE 15c2-12 AND AUTHORIZING CERTAIN
OTHER ACTIONS IN CONNECTION THEREWITH
WHEREAS, the Successor Agency has previously approved the issuance of tax allocation
bonds (the “2020 Bonds”) by Resolution No. SA 2020-006 (the “Resolution”), at its meeting on
July 14, 2020; and
WHEREAS, the Successor Agency wishes at this time to approve the Preliminary Official
Statement for the 2020 Bonds to deem the Preliminary Official Statement final within the meaning
of Rule 15c2-12 of the Security and Exchange Act of 1934 (“Rule 15c2-12”); and
WHEREAS, the Oversight Board to the Successor Agency of the Redevelopment Agency
of the City of Lake Elsinore has approved of the issuance of the 2020 Bonds by its Resolution
No. 2020-032 at its meeting on July 16, 2020; and
WHEREAS, on September 25, 2020, the California Department of Finance approved
Oversight Board Resolution No. 2020-032 approving the 2020 Bonds; and
WHEREAS, initially capitalized terms used in this resolution without definition have the
meanings set forth in the Resolution.
NOW, THEREFORE, THE SUCCESSOR AGENCY OF THE REDEVELOPMENT
AGENCY OF THE CITY OF LAKE ELSINORE DOES HEREBY RESOLVE, ORDER AND
DETERMINE AS FOLLOWS:
Section 1. The Preliminary Official Statement relating to the 2020 Bonds (the
“Preliminary Official Statement”), in the form presented at this meeting and on file with the
Secretary, is hereby approved and deemed final for the purposes of Rule 15c2-12. Stifel, Nicolaus
& Company, Incorporated, as Underwriter for the 2020 Bonds, is hereby authorized to distribute
the Preliminary Official Statement to prospective purchasers of the 2020 Bonds in substantially
the form hereby approved, together with such additions thereto and changes therein as are
determined necessary by the Executive Director or the Assistant Executive Director to make the
Preliminary Official Statement final as of its date for purposes of Rule 15c2-12, including, but not
limited to, such additions and changes as are necessary to make all information set forth therein
accurate and not misleading.
Section 2. The preparation and delivery of an Official Statement, and its use by the
Successor Agency and the Underwriter, in connection with the offering and sale of the 2020
Bonds, is hereby authorized and approved. The Official Statement shall be in substantially the
form of the Preliminary Official Statement with such changes, insertions and omissions as may
be requested by Bond Counsel, Disclosure Counsel or the Underwriter and approved by any
Authorized Officer (defined in the Resolution) of the Successor Agency, such approval to be
conclusively evidenced by the execution and delivery thereof. The Chair of the Successor
Agency, the Executive Director of the Successor Agency, the Assistant Executive Director of the
Successor Agency and the Secretary of the Successor Agency are each hereby authorized and
directed to execute the final Official Statement and any amendment or supplement thereto, in the
DocuSign Envelope ID: D1A9F0DF-9CBE-430D-9912-397B82DCFA5B
Resolution No. SA 2020-9
Page 2 of 2
name of and on behalf of the Successor Agency, and thereupon to cause the final Official
Statement and any such amendment or supplement to be delivered to the Underwriter.
Section 3. Each of the Authorized Officers, acting singly, be and each of them hereby
is authorized and directed to execute and deliver any and all documents and instruments, relating
to the 2020 Bonds, and to do and cause to be done any and all acts and things necessary or
proper for carrying out the transactions contemplated by the Indenture, the Bond Purchase
Agreement, the Continuing Disclosure Certificate, the Resolution, this resolution and any such
instruments, including but limited to the execution of instructions, certifications or other
instruments relating to the DDA Payment Obligation or the Summerly DDA (as those terms are
defined in the Resolution).
Section 4. This Resolution shall take effect immediately upon its adoption.
Passed and Adopted on this 13th day of October 2020.
Brian Tisdale, Chair
Attest:
Candice Alvarez, MMC, Secretary
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
CITY OF LAKE ELSINORE )
I, Candice Alvarez, MMC, Secretary of the Successor Agency to the Redevelopment Agency of
the City of Lake Elsinore, California, do hereby certify that Resolution No. SA 2020-9 was adopted
by the Successor Agency of the City of Lake Elsinore, California, at the Regular meeting of
October 13, 2020, and that the same was adopted by the following vote:
AYES: Agency Members Manos, Johnson, and Sheridan; Vice-Chair Magee; and
Chair Tisdale
NOES: None
ABSENT: None
ABSTAIN: None
Candice Alvarez, MMC, Secretary
DocuSign Envelope ID: D1A9F0DF-9CBE-430D-9912-397B82DCFA5B