HomeMy WebLinkAboutCC Res 4907 2001-06-11
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RESOLUTION NUMBER ~7
A RESOLUTION OF TI-IE CITY COUNCiL OF THE CITY OF SEAL
BEACH APPROVING THE ISSUANCE OF LONG-TERM BONDED
INDEBTEDNESS BY THE ORANGE COUNTY FIRE AUTHORITY
FOR THE PURPOSE OF FINANCING THE REGIONAL rffi.E
OPERATIONS & TRAINING CENTER
WHEREAS, the City of Seal Beach (the "City") IS a member of the Orange County Fire
Authority (the "Authority"), and
WHEREAS, the Amended Orange County Fire Authority Joint Powers Agreement dated as of
September 23, 1999 (the "JPA Agreement") establishing the Authority requires
that two-thirds of the members of the authority approve the issuance of long-term
bonded indebtedness by the Authority; and .
WHEREAS, the Authority has requested that its member agencies approve the issuance of
long-term bonded indebtedness for the purpose of financmg the Regional Fire
Operations & Training Center (the "Facility"), and
WHEREAS, the Authority has submiUed to the City a l'reliminary Financing Plan dated as of
May 24, 200 I (the "Preliminary Financing ]llan") a copy of whidl is on Iile with
the City Clerk; and
Wl-IEREAS, the City desires to approve the issuance of long-term bonded indebtedness for the
]-acility as described in the Preliminary Financing Plan,
NOW, T1-IEREFORE, the City Council of the City of Seal Beach DOES HEREDY RESOLVE
as follows.
Each orthe foregoing recitals is true and correct.
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In accordance with the JP A Agreement, the City hereby approves the issuance by
the Authority ofJong-term bonded indebtedness in a principal amount not to
exceed $211,500,OOO (the "Bonds") with a true interest cost not to exceed 5 5% and
with a Hnal maturity of not more than 9 years for the purpose of financing the
Facility. The City acknowledges that, in the event that two-thirds of the members
of the Authority approve the issuance of the Bonds, the Authority may issue the
Bonds without any fbrther approvals from the City .
PAS~APPROVED
_ day of
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AYES
NOES:
Councilmember
ABSENT
Councilmember'
Resolution NUmberM
STATE OF CALrFORNTA)
COUNTY OF ORANGE ) SS
CITY OF SEAL BEACH )
T, Joanne M Yeo, City Clerk of Seal Beach, California, do hercby certlly that the foregoing
resolution is the original copy of Resolution Number on file in the office of the City
Clerk, passed, approved, and adoPte~ the City Co un I 0 the City of Seal Beach, at a regulur
meeting tliereof held on the I. day of , 2001_
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