HomeMy WebLinkAboutCC Reso No 1990-111AESOLUTION NO. 90-111
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
LAKE ELSINORE~ CALIFORNIA~ AUTHOAIZING ISSUANCE
OF BONDS, APPROVING 80ND INDENTUAE AND PURCHASE
AGREEMENT FOR A SPECIAL.ASSESSMENT DISTRICT ~
WHEREAS, the CITY COllNCIL of the CiTY OF LAKE ELSINORE, CALIFORNIA,
ie conducting proceedinge for the construction of certain public improvements
in a epecial aeeeeement dietrict pureuant to the terme and provieione of the
^hl~nicipal Improvement Act of 1913", being Divieion 12 of the Streete and~
Highwaye code of the State of California, aaid epecial aeeeeement district
known and deeignated ae ASSESSMENT DISTRICT NO. 90-1A (hereinafter [eferred~
to aa the "Aeeeaement Dietrict"); and,
WHEREAS, thie legielative body hae previouely declared in ite Resolu-
tion of Intention to ieeve bonde to finance eaid improvemente, eaid bonde to
iesue pursuant to the terme and provisione of the "Improvement Bond Act of
1915", being Divieion 10 of said Code; and,
WHEREAS, at thie time thie legielative body ie deairoue to eet forth
all formal terme and~conditione relating to the authorization, ieauance and~
adminietration of eaid bonde pureuant to a Purchase Agreement~ and,
WHEREAS~ there hae been presented, considered and ready for approval
a bond indenture eetting forth formal terme and conditions relating to the
ieeuance and eale of bonds; and,
wHEREAS, thie legieletive body hereby further determines that the
unpaid ase~esemente ehall be epecifically in the amount ae ehown and eet fotth
in the certificate of Paid and Unpaid Aeeesemente as certified by and on file
with the Treaeurer, and for particulare ae to the amount~ of eaid unpaid
aeeeeemente, eaid Certificate,and liet ehall control and govern.
NOW, THEREFOAE, IT IS HEREBY RESOLVED AS~FOLLOWS:
RECITALS
SECTION 1. That the above recitale are true and correct.
BOND AUTHORIZATION
SECTION 2. That thie legielative body does authorize the iseuance of
bonde pureuant to the terme and provieione of the "Improvement Bond Act of
1915", being Division 10 of the Streete and Highways Code of the State of
ca~ifornia, and aleo pure~ant to the epecific terme and conditione .ae eet
Eorth in the BOND INDENTVRE preeented herein.
BOND INDENTURE
SECTION 3. The BOND INDENTUAE ie approved eubetantially in the form
priaaented herein, and ie aubject to modificatione as neceasary and ae
app~~..,ved by the Adminietrative Servicee Director. Final approval of the BOND
INDENTUAE ehall be conclueively evidenced by the eignature of the Adminietra-
tive Servicea Director upon final delivery of bonde and recelpt of proceede.
A copy of eaid BOND INDENTURE ehall be kept on file with the tranecript of
the~~~e• proceedinge and open for public inepection.
PURCHASE AGREEMENT
SECTION 4. The PURCHASE AGREEMENT ie approved eubetantially in the
for~- areeented herein, and ie eubject to modificationa as neceesary and ae
app.c~ved by the Administrative Servicea Director. Final approval of the
PVRC:"A5E AGREEMENS ehall be conclueively evidenced by the signature of the
Adminietrative 5ervicee Director upon final delivery of bonds and receipt of
proc?ede. A copy of eaid PURCHCHASE AGREEMENT ehall be kept on file with the
tra~:ecript of theee proceedinge and open for public inepection.
FINAL ASSESSMENTS
SECTION 5. That the. Certificate of Paid and Unpaid Asseesmente, ae
cert..ifled by the Treaeurer, ehall remain on file in that office and be open
for public inepection for all particulare ae it relatee to the amount of
unpaid aeseeemente to eecure bonde for thie Aeeeesment Dietrict.
,
PASSED, APPROVED and ADOPTED thi~~~~ day of ~~ ~~ 1990. ,
~-
CITY~OP~ LAKE ELSINORE
STATE OF CALIFORNIA
~~
VICKI LYNNE I SAD
CITY CLERK ~
CITY OF~LAKE ELSINORE
APPi'(~"/ED AS TO FORM:
~~~ ~
JOH~; R. HA PER
CIT1" ~4TTORNEY
CIT) '.~e LAKE ELSINORE
_ .___ _ _ . '.._- . ._...._.._J
STATE OF CALIFORNIA
COUNTY OF RIVERSIDE
CITY OF LAKE ELSINORE
I, VICKI LYNNE KASAD, CITY CLERK of the CITY OF LAKE ELSINORE,
CALIFORNIA, DO HEREBY CERTIFY that'the foregoing Reeolution, being Aeeolution
No. 90-111 , wae duly paesed, approved and adopted by the City council,
~ approved and eigned by the Mayor, and atteeted by the City Clerk, all at the
regular meeting of eaid City council held on the 13th day of
November , 1990, and that the eame wae paeeed and adopted by the
following vote:
AYES: COUNCIL MEMHERS: BUCK, DOMINGUEZ, STARKEY, WINKLER, WASHBURN
NOES: WUNCIL MEMHERS: ~NONE
ABSENT: COUNCIL MEMHERS: NONE
ABSTAIN: COUNCIL MEMBERS; NONE
~ EXECUTED thie 14th day of November , 1990, at Lake Eleinore~
California.
~ VICKI' LYNNE ItA AD
CITY CLERIC
CITY OF LAKE ELSINORE
~ ~ STATE OF CALIFORNIA ~
~SEAL]