Resolution Number 91-3-6-2RESOLUTION NO. 91-3-6-2
V
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN
JUAN CAPISTRANO, CALIFORNIA, AMENDING RESOLUTION NO.
91-1-15-2 OF THE CITY COUNCIL OF THE CITY OF SAN JUAN
CAPISTRANO AUTHORIZING THE ISSUANCE OF THE CITY'S
SERIES A OF 1991 GENERAL OBLIGATION BONDS (OPEN SPACE
PROGRAM)
WHEREAS, the City Council of the City of San Juan Capistrano, located in
Orange County, California (hereinafter sometimes referred to as the "legislative body of
the City"), has heretofore authorized the issuance of its Series A of 1991 General
Obligation Bonds of the City of San Juan Capistrano (Open Space Program) pursuant to
Resolution No. 91-1-15-2 duly adopted on January 15, 1991, in the aggregate principal
amount of $9,050,000 (the "Bonds"); and,
WHEREAS, the legislative body of the City desires to make certain
amendments to Resolution No. 91-1-15-2 in order to amend certain provisions relating to
the delivery and principal payment dates of the Bonds and the duties of the paying agent
for the bonds in order to, among other items, provide greater specificity as to the terms
of such Bonds and paying agent duties; and,
WHEREAS, the legislative body of the City has determined that the following
amendments to Resolution No. 91-1-15-2 set forth below are not materially adverse to
the prospective Bondholders, are in certain respects beneficial to such Bondholders and
may be made without notice to or consent of any such Bondholders.
NOW, THEREFORE, the City Council of the City of San Juan Capistrano does
hereby resolve, order, and determine as follows:
SECTION 1. Each of the above recitals is true and correct.
SECTION 2. Section 1(c) of Resolution No. 91-1-15-2 is deleted in its
entirety and amended to read as follows:
(c) Bond Year. The term "Bond Year" means the twelve (12) month
period commencing on March 7 and ending on the following March 6, except that the first
Bond Year shall commence on the date on which the bonds are issued and end on March 6,
1992.
SECTION 3. The second sentence of the second paragraph of Section 2 of
Resolution No. 91-1-15-2 is amended to delete the date "January 15" and replace said
date with "July 15."
SECTION 4. The first sentence of the third paragraph and the fourth
sentence of the fourth paragraph of Section 2 of Resolution No. 91-1-15-2 are amended
to delete "March 15" and replace said date with "March 7."
032
SECTION 5. Section 4 of Resolution No. 91-1-15-2 is deleted in its
entirety and amended to read as follows:
Paying Agent. The initial Paying Agent for the Bonds shall be Bankers Trust
Company of California, National Association, Los Angeles, California.
SECTION 6. Section 9 of Resolution No. 91-1-15-2 is amended to delete
references therein to "January 15" and to replace such references with the date "July 15"
and to delete references to "July 15" and to replace such references with the date
"January 15." Section 9 of Resolution No. 91-1-15-2 is also amended to add the following
sentence to the end of such section: "The Paying Agent shall further provide written
notice to bondholders of all Bonds to be redeemed pursuant to this section within sixty
(60) days, but in no event later than thirty (30) days prior to the date of such
redemption."
SECTION 7. Section 12 of Resolution No. 91-1-15-2 is amended to include
the following sentence at the end of such section:
"The City Treasurer shall transfer available monies from the Debt Service
Fund to the Paying Agent in amounts sufficient and at such times as are necessary to
promptly pay principal and interest on the Bonds as such shall become due; and the
Paying Agent shall establish a fund designated the 'City of San Juan Capistrano 1991
Bonds Debt Service Fund' for such purpose and shall make payments to the bondholders of
principal and interest on the Bonds as such shall become due."
SECTION 8. Exhibit A to Resolution No. 91-1-15-2 is amended to reflect
March 7, 1991, as the Dated Date and delivery date for the Bonds and July 15 as the
principal payment and maturity dates for the Bonds.
SECTION 9. All other provisions of Resolution No. 91-1-15-2 shall remain
in full force and effect.
SECTION 10. This Resolution shall take effect from its date of adoption.
PASSED, APPROVED, AND ADOPTED this 6th day
of March . 1991.
K;: z 0/tea 1
KENNETH E. FRIESS, MAYOR
ATTEST:
-2-
033
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. 91-3-6-2 do8ted by the City Council of the City of San Juan
Capistrano, California, at a/re arnmeeting thereof held on the 6th day
of March , 1991, by the following vote:
AYES: Councilmen Jones, Hausdorfer, Buchheim,
Vasquez and Mayor Friess
NOES: None
ABSTAIN: None
ABSENT: None
(SEAL) ��ir1 P�u�IC
CHERYL JOFfNSZN, CITY CLERK
-3-