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HomeMy WebLinkAboutRDA Res 86-13 1986-09-08 RESOLUTION NO. 86-l3 A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF SEAL BEACH PROVIDING FOR THE SALE OF TAX ALLOCATION BONDS, ISSUE OF 1986, OF THE AGENCY I RECITALS: A. The Redevelopment Agency of the City of Seal Beach is a redevelopment agency, a public body, corporate and politic, duly created, established and authorized to transact business ~nd exercise its powers, all under and pursuant to the Redevelopment Law and the powers of the Agency include the power to issue, bonds or notes for any of its corporate pur- poses. I B. The Agency has on the date hereof adopted its Resolution entitled: "Resolution of the Redevelopment Agency of the City of Seal Beach Authorizing the Issuance of Tax Allocation Bonds of the Agency to Aid in the Financing of a Portion of the Cost of a Redevelopment Project and Ranking on a Parity with Bonds Previously Issued by the Agency" (the "Resolution of Issuance"). C. The Agency has on the date hereof adopted its I Resolution entitled: "Resolution of the Redevelopment Agency of the City of Seal Beach Determining to Issue a Certain Principal Amount of Tax Allocation Bonds of the Agency and Providing for Certain Details of the Bonds" (the "Supplemental Resolution") . D. The Agency deems it necessary at this time to sell two million dollars ($2,000,000) principal amount of Bonds as authorized by the Resolution of Issuance and as further provided by the Supplemental Resolution. Reso 1 uti on Number f/J -/3 , NOW, THEREFORE, THE REDEVELOPMENT AGENCY OF THE CITY OF SEAL BEACH HEREBY FINDS, DETERMINES, RESOLVES, AND ORDERS AS FOLLOWS: Section l. Definitions. All terms which are defined in Section 1 of the Resolution of Issuance shall have the same meanings in this Resolution as such terms are given in Section 1 of the Resolution of Issuance. Section 2. Sale Authorized. The sale of the Bonds on an all or none basis and in accordance with law, is hereby authorized. Section 3. Notice Inviting Bids. The invitation for bids for the purchase of the Bonds is hereby authorized, such invitation to be substantially in the form of the Notice Inviting Bids attached hereto, marked "Exhibit A" and by this reference incorporated herein. Such Notice Inviting Bids and the Bid Form attached thereto are hereby approved. Section 4. Publication of Notice Involvinq Bids. The Secretary of the Agency is hereby authorized and directed to cause to be published in the manner provided by law, such Notice Inviting Bids. Any and all such publications and any and all notices of sale or of the intention to sell the Bonds heretofore or hereafter made are hereby approved, ratified and confirmed. Section 5. Terms and Conditions of Sale. The terms and conditions of the offering and the sale of the Bonds shall be as specified in such Notice Inviting Bids. Section 6. Preliminary Official Statement. The staff of the Agency and the Financial Consultant are hereby author- ized and directed to prepare a preliminary Official Statement regarding the Bonds to be furnished to prospective bidders for the Bonds. Such preliminary Official Statement and the final I I I Resolution Number t?~~I'~ .\ , Official Statement shall be substantially in the form presented to the Agency and on file in the office of the Secretary of the Agency. I Section 7. Notice Inviting Bids and Official State- ment Furnished. The staff of the Agency and the Financial Con- sultant are hereby authorized and directed to cause to be furnished to prospective bidders a reasonable number of copies of the Notice Inviting Bids, including the Bid Form, and a reasonable number of copies of such preliminary Official Statement. I Section 8. Opening of Bids. The Financial Consultant and Bond Counsel are hereby authorized and directed to open the bids at the time and place specified in such Notice Inviting Bids and to present the same to the Agency. The Financial Con- sultant and Bond Counsel are hereby authorized and directed, in addition to taking the above actions, to receive and record the receipt of all bids made pursuant to such Notice Inviting Bids, to cause such bids to be examined for compliance with such Notice Inviting Bids, to cause computations to be made as to which bidder has bid the lowest interest cost to the Agency and to present such bids to the Agency as provided in such Notice Inviting Bids, along with a report as to the foregoing and any other matters deemed pertinent to the award of the Bonds and the proceedings for the issuance thereof. Section 9. General Authorization. The members of the I Agency, and its officers, deputy officers, employees, consul- tants and counsel are hereby authorized to do all acts and things which are required of them by this Resolution, the Supplemental Resolution and the Resolution of Issuance (collec- tively, the "Resolutions"), or which are necessary or desirable in carrying out the issuance of the Bonds as provided by the Reso 1 uti on Number Bb -"/3 Resolutions and all matters incidental thereto. All such acts and things heretofore done are hereby approved, ratified and confirmed. Effectl"ve Date. This Resolution shall Section lO. take effect upon its adoption. PASSED, APPROVED AND ADOPTED this f.t!j day WilMt0 1986. by the following AYES: NOES: ABSENT: Agency Members Agency Members Agency 1'1embers ATTEST: , I , I , GcL-J~.~) Chairperson "', STATE OF CALIFORNIA) COUNTY OF ORANGE ) SS CITY OF SEAL BEACH ) I, Joanne M. Yea, City Clerk of the City of Seal Beach, California, and Secretary to the Seal Beach Redevelopment Agency, do hereby certify that the foregoing resolution is the original copy of Resolution Number ~o-/~ an file in the office of the City Clerk, passed, approved and adopted by the Seal Beach Redevelopment Ag~~at a special meeting thereof held on the 8'# day of....../jk,,-.-:&,.../. ..-,/ , 1986. ,~ 1JA~ tJ.~ 860902 pf 0494WLS-14(31 I I I