Resolution Number 98-5-19-5057
RESOLUTION NO. 98-5-19-5
DECLARING INTENT TO SELL BONDS AND FIXING TIME
AND PLACE FOR TAKING BIDS AND DIRECTING
PUBLICATION OF NOTICE INVITING BIDS
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN JUAN
CAPISTRANO, CALIFORNIA, DECLARING ITS INTENTION TO SELL
BONDS OF SAID CITY IN THE AMOUNT OF NOT TO EXCEED EIGHTEEN
MILLION FIVE HUNDRED THOUSAND DOLLARS ($18,500,000), FIXING
THE TIME AND PLACE FOR TAKING BIDS AND DIRECTING PUBLICATION
OF NOTICE INVITING BIDS
WHEREAS, this City Council deems it proper and the necessity therefor appears that
bids be invited for bonds of CITY OF SAN JUAN CAPISTRANO in the amount of not to exceed
$18,500,000, and that if bids are satisfactory, said bonds be sold in the manner and at the time and
place hereinafter set forth.
NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED
BY THE CITY COUNCIL OF THE CITY OF SAN JUAN CAPISTRANO, CALIFORNIA,
as follows:
SECTION 1. Sealed proposals for the purchase of Bonds of said City in the
amount of not to exceed $18,500,000 be received by this City Council at Fieldman, Rolapp &
Associates, Irvine, California, on June 9, 1998, up to the hour of 10:00 A.M., and, if determined to
be in the best interests of the Agency by the Executive Director, on each consecutive Tuesday until
the Bonds are sold.
SECTION 2. The City Clerk is hereby authorized and directed to cause to
be published a notice inviting such sealed proposals by one insertion in the Capistrano Valley News
and in The Bond Buyer, a newspaper of general circulation, circulated within the State, said
publication to be at least fifteen (15) days prior to the date of opening bids stated in said notice.
The notice shall be substantially as follows:
NOTICE OF SALE
NOT TO EXCEED
$18,500,000
SERIES A OF 1998 GENERAL OBLIGATION REFUNDING BONDS
OF CITY OF SAN JUAN CAPISTRANO (OPEN SPACE PROGRAM)
ORANGE COUNTY, CALIFORNIA
Proposals will be received up to 10:00 o'clock a.m., June 9, 1998, at Fieldman,
Rolapp & Associates, Attention Thomas G. Johnsen, 2100 Main Street, Suite 210,
Irvine, California 92614, for the purchase of general obligation refunding bonds of
CITY OF SAN JUAN CAPISTRANO.
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The principal of and the interest on the bonds will be paid from ad valorem
taxes to be levied on all taxable property within that city, without limitation of rate or
amount.
The Bonds will mature serially on August 1 of each year, commencing
August 1, 1999, as provided in the Resolution of Issuance for such issue. Interest will
be paid on February 1, 1999 and semiannually thereafter on August 1 and February
1 of each year.
The legal opinion of Stradling, Yocca, Carlson & Rauth, a Professional
Corporation, Newport Beach, California will be furnished to the successful bidder.
Further information may be obtained from Fieldman, Rolapp & Associates,
Attention Thomas G. Johnsen, 2100 Main Street, Suite 210, Irvine, California 92614
(949)660-8500.
Cheryl Johnson
City Clerk
SECTION 3. The preliminary official statement prepared by Fieldman,
Rolapp & Associates and presented to this City Council is approved in substantially the form
presented. Fieldman, Rolapp & Associates is authorized to make such changes in and additions to
the preliminary official statement prior to mailing as may be approved by the City Manager or
required by the City's Bond Counsel; and the City Manager is hereby authorized and directed to deem
such form, as modified, "final," except for information relating to the offering prices, interest rates,
selling compensation, rating and other terms of the Bonds depending on such matters. The execution
of the official statement by the Mayor and the printing and distribution thereof (in both preliminary
and final forms) in connection with the sale of the Bonds, with such changes as are approved or
required as set forth above, are hereby authorized, approved and directed.
SECTION 4. The City Clerk is hereby authorized and directed to cause to
be furnished to prospective bidders copies of a notice inviting proposals, the bid form and the
preliminary official statement relating to the properties, operations and finances of the City; but the
failwe, in whole or in part, to comply with this section shall not in any manner affect the validity of
the sale of said Bonds. Said notice and bid form shall be substantially set forth in Exhibit A, on file
in the office of the City Clerk.
PASSED, APPROVED, AND ADOPTED this 19th day of
1998.
GI_LJ MAYOR
ATTEST:
CITY CLERKO
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OS9
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF SAN JUAN CAPISTRANO )
I, CHERYL JOHNSON, City Clerk of the City of San Juan Capistrano, California,
DO HEREBY CERTIFY that the foregoing is a true and correct copy of Resolution No.
qR_ s_ q_ s adopted by the City Council of the City of San Juan Capistrano, California,
at a regular meeting thereof held on the 19th day of May 1998, by the
following vote:
AYES: Council Members Swerdlin, Greiner, Hart, Campbell
and Mayor Jones
NOES: None
ABSTAIN: None
ABSENT: None
(SEAL)
CHERYL JO ON, ITY CLERK
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