Resolution Number 91-6-25-1243
RESOLUTION NO. 91-6-25-1
APPROVING 1991 TAX ALLOCATION REFUNDING BONDS AND
DIRECTING EXECUTION OF INDENTURE OF TRUST AND OFFICIALSTATEMENT
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN
JUAN CAPISTRANO, CALIFORNIA, APPROVING THE ISSUANCE
OF SAN JUAN CAPISTRANO COMMUNITY REDEVELOPMENT
AGENCY, SAN JUAN CAPISTRANO CENTRAL REDEVELOPMENT
PROJECT, 1991 TAX ALLOCATION REFUNDING BONDS AND
APPROVING, AUTHORIZING AND DIRECTING EXECUTION OF
INDENTURE OF TRUST AND OFFICIAL STATEMENT
WHEREAS, the San Juan Capistrano Community Redevelopment Agency (the
"Agency") proposes to issue its San Juan Capistrano Central Redevelopment Project,
1991 Tax Allocation Refunding Bonds in an aggregate principal amount of not to exceed
$6,250,000 (collectively, the "Bonds") for the purpose of refunding the Agency's
outstanding San Juan Capistrano Central Redevelopment Project Notes, Issue of 1986;
and,
WHEREAS, notice of a public hearing regarding the issuance of refunding
bonds for the San Juan Capistrano Central Redevelopment Project, Tax Allocation Notes,
Issue of 1986, the proceeds of which were applied to the uses and for the purposes recited
in the notice of public hearing attached hereto as Exhibit "A" has been duly published in
accordance with the requirements of Section 147(f) of the Code; and,
WHEREAS, the members of the City Council are the applicable elected
representatives to conduct a public hearing regarding the issuance of the refunding
bonds; and,
WHEREAS, this City Council has conducted a public hearing regarding the
issuance of the Bonds and has determined it to be in the public interest to issue the
Bonds.
NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED by the
City Council of the City of San Juan Capistrano that the issuance of the Bonds by the
Agency to refund the 1986 Notes and the entering into the the Indenture of Trust are
hereby approved.
PASSED, APPROVED, AND ADOPTED this
of 1,,, P , 1991.
25th
day
IL
W ENCE F BU HEIM, MAYOR PRO TEM
ATTEST:
f
0, 4 1:
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. 91-6-25-1 adopted by the City Council of the City of San Juan
Capistrano, California, at a regular meeting thereof held on the 2Sth day
of June , 1991, by the following vote:
AYES: Councilmen Jones, Hausdorfer, Vasquez and
Mayor pro tem Buchheim
NOES: None
ABSTAIN: None
ABSENT: Mayor Friess
(SEAL) �/Jll/(riyEJlf�.
CHERYL3OHH 'SON, CITY ULtRIK
-2-
Exhibit A
NOTICE OF HEARING
ISSUANCE OF BONDS
SAN JUAN CAPISTRANO COMMUNITY REDEVELOPMENT AGENCY
245
NOTICE IS HEREBY GIVEN pursuant to Section 147(f) of
the Internal Revenue Code of 1986, as amended, that on Tuesday,
the 25th day of June, 1991, at the hour of 7:00 p.m. in the
City Council Chambers, City of San Juan Capistrano (the
"City"), City Hall, 32400 Paseo Adelanto, San Juan Capistrano,
California, the City Council, being applicable elected
representatives of the City, will hold a public hearing on the
question of whether it should approve the issuance by the San
Juan Capistrano Community Redevelopment Agency (the "Agency")
of its not to exceed $6,250,000 principal amount of San Juan
Capistrano Central Project Area 1991 Tax Allocation Refunding
Bonds (the "1991 Bonds").
The 1991 Bonds are being issued for the purpose
of refunding the Agency's San Juan Capistrano Central
Redevelopment Project Tax Allocation Notes, Issue of 1986,
in the aggregate principal amount of $6,250,000 (the "1986
Notes").
The proceeds of the 1986 Notes were issued for the
acquisition of lands and providing financial assistance to
projects for redevelopment purposes within the San Juan
Capistrano Central Redevelopment Project Area (the "Project
Area") and related facilities and appurtenances, to establish
reserves for the 1986 Notes and to pay certain costs of
issuance with respect to the 1986 Notes. The San Juan
Capistrano Central Project Area consists of approximately
1097.15 acres. A general summary of the projects receiving
financial assistance with the proceeds of the 1986 Notes is as
follows:
Project Location
Apartment
Complex
Mitchell
Acquisition
7807u12299-52
Owner
26451 Camino de Vista, WLBD Associates
San Juan Capistrano
31852 Camino
Capistrano,
San Juan Capistrano
San Juan
Capistrano
Community
Redevelopment
Agency (the
"Agency")
use
Rental to low
and moderate
income
persons
Vacant parcel
used for un-
improved
parking lot
MEI
Proiect
Location
Owner
use
Amtrak
2671 Verdugo Street,
Agency
Train station
Passenger
Sar. Juan Capistrano
Depot
E1 Peon
31762 Camino
Agency
To be used
Property
Capistrano,
for parking
26822-26842
Ortega Highway,
San Juan Capistrano
Chazan
31897-31899 Del
City
Public In -
Development
Obispo Street,
frastructure
San Juan Capistrano
Improvements
Historic
31756-31776 E1 Camino
Agency
Park
Town Center
Real,
San Juan Capistrano
In addition, the Agency financed other public
improvements, including improvements to Agency -owned properties
in downtown San Juan Capistrano, design costs for a downtown
parking structure, miscellaneous street improvements in the
Project Area and certain other miscellaneous costs.
All interested parties are invited to attend the
public hearing to express their views on the proposed issue of
1991 Bonds by the Agency.
Date: June 10, 1991
7807u/2299-52
CHERYL JOHNSON
City Clerk of the City of
San Juan Capistrano