HomeMy WebLinkAboutAGENDA REPORT 1993 0407 CC REG ITEM 08NITEM B.- • /v�
OP73AN, CAI
STAFF REPORT
April 7, 1993 A,Cr;
TO: Honorable Mayor and Members of the City Council
FROM: Audrey Ho, Esq. of Burke, Williams & Sorensen
SUBJECT: $2,595,000 City of Moorpark Assessment District No. 92 -1 (Mission Bell
Plaza) 1915 Act Limited Obligation Improvement Bonds, Series 1993
RECOMMENDATION:
Adopt Resolution No. 93 -_, of the City Council of the City of Moorpark,
California, Determining Unpaid Assessments, Authorizing the Issuance of Bonds in Connection
with City of Moorpark Assessment District No. 92 -1 (Mission Bell Plaza) in the Principal
Amount of $2,595,000, Approving an Indenture of Trust, a Purchase Contract and Preliminary
Official Statement and Authorizing and Approving Certain Other Actions in Connection
Therewith.
BACKGROUND:
On approximately August 10, 1992, the City of Moorpark (the "City ") received petitions
from certain property owners requesting that the City form an assessment district, issue
assessment bonds and levy special assessments against an area of land including their properties
in order to finance improvements to the specified area of land.
Following two duly noticed public hearings, the City Council on February 17, 1993,
adopted Resolution No.918, which formed the City of Moorpark Assessment District No. 92 -1
(Mission Bell Plaza) ( the "District "), approved the final Engineer's Report for the District,
confirmed the Assessments, ordered the District improvements and other actions related thereto.
On March 3, 1993, the City Council adopted Resolution No.93 -922, which authorized
the distribution of the Preliminary Official Statement relating to the City's above - referenced
Bonds. Adoption of this Resolution allowed Spelman & Co., Inc., the underwriter for the
Bonds, to distribute the Preliminary Official Statement to potential purchasers prior to the date
set for sale of the Bonds.
It is now appropriate for the City to consider Resolution No._, which determines unpaid
assessments, authorizes the issuance of the Bonds in the principal amount of $2,595,000,
approves an Indenture of Trust, a Purchase Contract, a Preliminary Official Statement and
approves other related actions in connection with the Bonds.
ATTACHMENTS:
1.
Resolution No. 93-
2.
Indenture of Trust
3.
Purchase Contract
4.
Preliminary Official Statement
51342.1