HomeMy WebLinkAboutRES RD 1993 18 1993 0602RESOLUTION N(). 93 - 18
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF
MOORPARK APPROVING THE SALE AND DELIVERY OF ITS MOORPARK
REDEVELOPMENT PROJECT, 1993 TAX ALLOCATION BONDS AND
RATIFYING CERTAIN ACTIONS TAKEN IN CONNECTION THEREWITH.
WHEREAS, the Redevelopment Agency of the City of Moorpark (the "Agency "), is
a redevelopment agency and public body, corporate and politic, duly created, established
and authorized to transact business and exercise its powers, all under and pursuant to the
Community Redevelopment Law (Part I of Division 24, commencing with Section 33000 of
the California Health and Safety Code) (the "Redevelopment Law "), and the powers of the
Agency include the power to issue bonds for anv of its corporate purposes; and
WHEREAS, a redevelopment plan for a redevelopment project known and
designated as the "Moorpark Redevelopment Project" has been passed and adopted by
Ordinance No. 110 of the City of Moorpark, California (the "City "), on July 5, 1989 (the
"Redevelopment Plan "), and all requirements of law for and precedent to the adoption and
approval of the Redevelopment Plan have been duly complied with; and
WHEREAS, the Agency duly adopted its Resolution No. 93 -17, on April 21, 1993,
which provided for the authorization, issuance, sale and delivery of its bonds, designated
"Moorpark Redevelopment Project, 1993 Tax Allocation Bonds," (the "Bonds "), in the
principal amount of $10,000,000, the preparation of the Official Statement and other
documents pertaining to the issuance and ,ale of the Bonds; the execution of such
documents by Agency officials; the payment of costs of issuing the Bonds; and the
authorization of Bond Counsel, Disclosure Counsel. Financial Advisor and Underwriter (as
defined therein) to take such actions as are nci ess<<ry to accomplish the issuance, sale and
delivery of the Bonds, and
WHEREAS, pursuant to its Resolution No. 93 -3, adopted April 21, 1993, the
Moorpark Public Financing Authority (the "Authority "), authorized the Authority's purchase
of the Bonds from the Agency and the immediate resale by the Authority of the Bonds to
Miller & Schroeder Financial, Inc. (the "Underwriter "), pursuant to a Bond Purchase
Contract (the "Bond Purchase Contract "), by and among, the Underwriter, the Agency and
the Authority; and
WHEREAS, the Underwriter, has subrnitted an offer to purchase the Bonds in
accordance with the Bond Purchase Contract
NOW, THEREFORE, THE REDEVELOPMENT AGENCY OF THE CITY OF
MOORPARK, DOES HEREBY RESOLVE, DETERMINE AND DECLARE THAT:
Section I. Sale of Bonds. The Agency hereby approves the sale of the Bonds to
the Authority and the immediate resale of the Bonds from the Authority to the Underwriter,
pursuant to the Bond Purchase Contract provided the interest rate on the Bonds is the most
favorable market rate, and such interest rate dues not exceed six and four - tenths percent
(6.4 %) and the underwriter's discount does not exceed 1.575%.
Section Authorization to Proceed. All actions heretofore taken by the officers
and agents of the Agency with respect to the issuance of the Bonds are hereby approved,
confirmed and ratified. The Agency hereby authorizes and directs Bond Counsel, Agency
Counsel, Disclosure Counsel, Financial Advisor and the Underwriter to prepare all other
documents in connection with the issuance, sale and delivery of the Bonds; to advise the
Agency in connection therewith; and to otherwise accomplish the lawful and expeditious
issuance, sale and delivery of the Bonds. Agency officials and staff are hereby authorized
and directed to assist and cooperate in connection therewith and to take any and all actions
which they, or any of them, may deem necessar} or advisable in order to consummate the
transactions described herein, including but not limited to, the execution and delivery of any
and all agreements, certificates, instruments an(- other documents.
Section II. This Resolution shall take effect upon its adoption.
PASSED, APPROVED AND ADOPrvi) this .�ndday of June, 1993.
ATTEST:
REDEVELOPMENT AGENCY OF THE CITY OF
MOORPAR K
AIL
Secretary
Chairman
STATE OF CALIFORNIA )
COUNTY OF VENTURA ) SS.
CITY OF MOORPARK )
I, Lillian E. Hare, Secretary of the Redevelopment Agency of
the City of Moorpark, California, do hereby certify under
penalty of perjury that the foregoing Resolution No. 93 -18
was adopted by the Redevelopment Agency of the City of
Moorpark at a meeting held on ti,e __ n-d day of JUNE
, 1993, and that the same was adopted by the
following vote:
AYES: AGENCY MEMBERS MONTGOMERY, 13EREZ, WOZNIAK AND CHAIRMAN
LAWRASON
NOES: NONE
ABSENT: AGENCY MEMBER HUNTER
ABSTAIN: NONE
WITNFS� m';, hand anc tl l meal of said City
this 3rd day of JUNE _ L993.
i
r ' 1 ian F. Hare
1 retar•;
i
y
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