HomeMy WebLinkAbout1984 102 CC RESO1984 102 CC RESO (Ìì ç °RESOLUTION NO. 84- 102
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF BALDWIN PARK CONSENTING TO THE
SALE AND DELIVERY OF NOT TO EXCEED $10,000,000
PRINCIPAL AMOUNT OF CERTIFICATES OF PARTICIPATION
1984 SERIES A"
WHEREAS, the Baldwin Park Redevelopment Agency has given
its consent to the sale and delivery of not to exceed $10,000,000
principal amount of Certificates of Participation 1984 Series A"
Towne Center Shopping Center Project) the Certificates") in
order to assist in the provision of construction and permanent
financing for the acquisition and construction of the community
shopping center project to be located adjacent to San Bernardino
Freeway approximately three miles east of 1-605 Project"); and
WHEREAS, on December 19, 1984, the Agency and this City
Council conducted a duly noticed public hearing concerning the
sale and delivery of the Certificates pursuant to Internal Revenue
Code Section 103 k); and
WHEREAS, the City Council is the duly elected public
body with the authority to consent to the sale and delivery of
the Certificates by the Agency and is the duly elected public body
with the authority to act on behalf of the City of Baldwin Park
the City") which has jurisdiction over the Project; and
WHEREAS, there has been presented to this City Council at
this meeting the form of the following documents relating to the
purchase, sale and delivery of the Certificates to Wm. E. Pollock
& Company Inc., the initial purchaser thereof,
a) Certificate Purchase Agreement dated as of
December 1, 1984,
b) Trust Indenture dated as of December 1, 1984,
c) Project Acquisition Agreement dated as of
December 1, 1984.
which are collectively referred to herein as the Financing
Documents").
NOW, THEREFORE, the City Council of the City of Baldwin
Park does hereby resolve as follows:
SECTION 1, This City Council hereby gives its consent
to the preparation, sale and delivery of the Certificates in an
aggregate principal amount not to exceed $10,000,000 in accordance
with the terms and provisions of the Financing Documents, with such
additions thereto and changes therein as are recommended or approved
by bond counsel to the Agency. The City Council further approves
a Letter of Credit issued by Mitsubishi Bank Limited in fen amount
and upon the terms necessary to serve as support and security for the
Certificates.
SECTION 2. The form of the Financing Documents presented
at this meeting is hereby approved with such additions thereto
and changes therein as are recommended or approved by bond counsel
to the Agency.
SECTION 3. This Resolution shall take effect from and
after its date of adoption.
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1984 102 CC RESO (Ìì ç °Resolution No. 84-102
Page Two
PASSED, APPROVED AND ADOPTEE^-this 19th day of December,
1984.
MAYOR
ATTEST:
%^^.
CINDA L. GA^R, CITY CLERK
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES) ss.
CITY OF BALDWIN PARK
I, LINDA L. GAIR, City Clerk of the City of Baldwin
Park do hereby certify that the foregoing Resolution was
regularly approved and passed at a REGULAR MEETING of the Baldwin
Park City Council on the 19th day of December 1984 by the following
vote:
AYES:
NOES:
ABSENT:
COUNCILMEN IZELL, KING, GIBSON, McNEILL AND MAYOR WHITE
COUNCILMEN NONE
COUNCILMEN NONE
tiNDA L. GAIR, CITY CLERK
BIB]
37672-U01
1984-U02
102-U02
CC-U02
RESO-U02
LI3-U03
FO2126-U03
FO10091-U03
DO10097-U03
C6-U03
RESO-U03
2/20/2003-U04
ROBIN-U04