Resolution Number 90-6-19-7RESOLUTION NO. 90-6-19-7
RESOLUTION OF THE CITY COUNCIL OF CITY
OF SAN JUAN CAPISTRANO PROVIDING FOR
THE ISSUANCE OF BONDS OF SAID CITY IN
THE AMOUNT OF $4,995,000 FOR THE
ACQUISITION AND CONSTRUCTION OF CERTAIN
PARK, AGRICULTURAL, OPEN SPACE AND
RELATED USES
WHEREAS, pursuant to the provisions of Chapter 4 of
Division 4 of Title 4 of the California Government Code
(Sections 43600 et seq.), as amended, and pursuant to Ordinance
No. 656 adopted by the City Council of the City of San Juan
Capistrano on January 2, 1990 (the "Ordinance") and Resolution
No. 90-1-16-5 adopted by the City Council of the City on
January 16, 1990, a special election was duly and regularly
held on the 10th day of April, 1990, in that territory included
within the boundaries of the City at which election there was
submitted to the qualified voters of said city the following:
PROPOSITION: Shall the City of San Juan
Capistrano incur bonded indebtedness in the
principal amount of $21,000,000 to acquire
lands for park, agriculture, open space, and
related uses, in order to save these lands
from potential residential and commercial
develonnent and to develop youth, senior and
other community facilities, all in accordance
with the City's "Save Open Space" Program?
and
WHEREAS, more than two-thirds of the votes cast at
such election were in favor of and assented to the incurring of
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such indebtedness, and all and singular the requirements of the
Constitution and laws of the State of California have been
complied with in the holding of said election, and the City
Council of the City is now authorized and empowered to provide r -
for the form of bonds of the City and for the issuance of any
part thereof for the purpose provided for in the aforesaid
Ordinance and resolution, payable, principal and interest, from
taxes levied exclusively upon the taxable property within the
City as permitted or required by law; and
WHEREAS, the City has not previously issued any of
said authorized bonds; and
WHEREAS, it is found and determined by this City
Council that the best interests of the City would be served by
proceeding according to the provisions of Chapter 4 of
Division 4 of Title 4 of the California Government Code
(Sections 43600 et seq.); and
WHEREAS, it is proper and the necessity therefor
appears that the first series of said bonds in the amount of
$4,995,000 be issued for the purpose hereinabove stated, and in
the form and manner hereinafter provided.
NOW, THEREFORE, the City Council of the City of San
Juan Capistrano DOES HEREBY RESOLVE, DETERMINE AND ORDER as
follows:
SECTION 1. Definitions. Unless the context
clearly otherwise requires, the following terms shall have the
respective meanings ascribed to them in this Section 1:
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(a) Bond Counsel. The term "Bond Counsel" means an
attorney or firm of attorneys of nationally recognized standing
in matters pertaining to the tax-exempt status of interest on
bonds issued by states and their political subdivisions.
(b) Bond Year. The term "Bond Year" means the twelve
(12) month period commencing on August 1 and ending on the
following July 31, except that the first Bond Year shall
commence on the date on which the bonds are issued and end on
July 31, 1991.
(c) Closing Date. The term "Closing Date" is the
date the bonds are delivered to the initial purchaser thereof.
(d) Code. The term "Code" means the Internal Revenue
Code of 1986, as amended.
(e) Gross Proceeds. The term "Gross Proceeds" means
the sum of the following amounts: (i) original proceeds, being
the amounts received by City, or held by Paying Agent as
proceeds of the original issuance of the bonds (after payment
of all expense of issuing the bonds); (ii) investment proceeds,
being amounts received at any time by City or Paying Agent,
such as interest and dividends, resulting from the investment
of proceeds of the bonds including profits and less losses
received on such investment: (iii) amounts, other than original
proceeds and investment proceeds, held in any fund or account
and reasonably expected to be used to pay principal of or
interest on the bonds; (iv) securities or obligations pledged
as security for the payment of the bonds by an ultimate obligor
591M
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(or a related person) or the City; (v) amounts used to pay
principal or interest with respect to the bonds; and (vii)
amounts received as a result of investing the amounts listed in
clauses (i) through (vi).
(f) Interest Payment Date. The term "Interest
Payment Date" means each February 1 and August 1, commencing
February 1, 1991.
(g) Net Proceeds. The term "Net Proceeds" means the
par amount of the bonds plus accrued interest and premium, if
any, less the proceeds of the bonds applied to pay costs of
issuance.
(h) Nonpurpose Obligation. The term "Nonpurpose
Obligation" means any security or obligation (other than an
obligation on which interest is excludable from gross income
for federal income tax purposes under Section 148(a) of the
Code) in which Gross Proceeds are invested and which is not
acquired to carry out the governmental purpose of the bonds.
(i) Owner. The term "owner" or "bond owner" or
"owner of bonds" or any similar term, when used with respect to
the bonds, means any person in whose name a bond is registered
in the books of registration maintained by the Paying Agent.
(j) Paying Agent. The term "Paying Agent" means that
entity to be selected by the City Treasurer as the best bidder
for the position of paying agent, registrar and transfer agent
San Francisco
for the bonds and having an office in 4jc-&-Aircjeid'S, California,
or its successor.
le^
353 1
(k) Record Date. The term "Record Date" shall mean
the fifteenth day of the month preceding an Interest Payment
Date.
(1) Treasurer. The term "Treasurer" means the
Treasurer of City.
SECTION 2. Authorization to Issue. Bonds of the
City in the sum of $4,995,000 be issued for the purpose stated
in the proposition set out in the recitals hereof. Said bonds
are further issued pursuant to the provisions of Chapter 4 of
Division 4 of Title 4 of the California Government Code
(Sections 43600 et sem.).
Said bonds shall be designated "SERIES 1990 GENERAL
OBLIGATION BONDS OF THE CITY OF SAN JUAN CAPISTRANO (OPEN SPACE
PROGRAM)." The bonds shall be issued in the form of fully
registered bonds in the denomination of $5,000 each or any
whole multiple thereof and shall mature on August 1 in the
amounts for each of the years as follows:
The City Treasurer is hereby authorized and directed
to adjust the maturities set forth above if he deems such
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Principal
Principal
Years
Amount
Years
Amount
1991
$120,000.00
2001
$235,000.00
1992
130,000.00
2002
255,000.00
1993
135,000.00
2003
270,000.00
1994
145,000.00
2004
295,000.00
1995
155,000.00
2005
315,000.00
1996
165,000.00
2006
340,000.00
1997
175,000.00
2007
365,000.00
1998
190,000.00
2008
395,000.00
1999
205,000.00
2009
425,000.00
2000
220,000.00
2010
460,000.00
The City Treasurer is hereby authorized and directed
to adjust the maturities set forth above if he deems such
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11
adjustment is necessary, based upon the interest rates
established by the successful bidder for the bonds, to achieve,
as nearly as practicable, level debt service on the bonds.
The bonds shall bear interest at a rate or rates to be
hereafter fixed, but not to exceed twelve percent (12%) per
annum, from August 1, 1990, payable on February 1, 1991 and
thereafter semiannually on each February 1 and August 1. Each
bond shall bear interest until its principal sum has been paid;
provided, however, that if funds are available for the payment
thereof in full accordance with the terms of this Resolution,
such bond shall then cease to bear interest.
The bonds shall be numbered No. 1 and upwards and
shall be dated as of the date of their authentication, except
that bonds issued upon exchanges and transfers of other bonds
shall be dated so that no gain or loss of interest shall result
from the exchange or transfer. Interest on each bond shall be
paid by the Paying Agent by check or draft mailed by first
class mail, postage prepaid, on the Interest Payment Date to
the registered owner as his/her name and address appear on the
register kept by the Paying Agent at the close of business on
the Regular Record Date. At the request of any owner of at
least $1,000,000 in aggregate principal amount of bonds,
interest on the bonds will be paid by wire transfer in
immediately available funds if such request is made at least
fifteen days before the Regular Record Date for such payment,
any such designation to remain in effect until withdrawn. Each
IM.
bond shall bear interest from the Interest Payment Date next
preceding the date of authentication (unless (i) the date of
authentication is prior to the first Regular Record Date, in
which event from August 1, 1990, (ii) the date of
authentication is after a Regular Record Date and before the
following Interest Payment Date, and if the City shall not
default in the payment of interest due on such Interest Payment
Date, in which event it shall bear interest from such Interest
Payment Date, or (iii) it is authenticated as of an Interest
Payment Date, in which event it shall bear interest from such
date) until the principal hereof shall have been paid.
SECTION 3. Place of Payment. The bonds shall be
payable in lawful money of the United States of America upon
surrender thereof at the principal corporate trust office of
San Francisco
the Paying Agent, in Les-Ai-tqe}es, California.
SECTION 4. Paying Agent. The City Treasurer is
hereby authorized and directed to select an entity to act as
Paying Agent for the bonds based upon the City Treasurer's
determination of the best bidder for such position of those
San Francisco
bidders having an office in bee AagH es, California.
SECTION 5
Form of Bonds. The bonds shall be
substantially in the form annexed hereto as Exhibit "A". Such
form is hereby approved and adopted as the form of the bonds
and of the redemption, exchange, registration and assignment
provisions pertaining to them, with necessary or appropriate
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356
variations, omissions, and insertions, as permitted or required
by this Resolution.
Any bonds issued pursuant to this Resolution may be
initially issued in temporary form exchangeable for definitive
4,
bonds when the same are ready for delivery. The temporary
bonds may be printed, lithographed or typewritten, shall be of
such denominations as may be determined by the City, shall be
in fully registered form and may contain references to any of
the provisions of this Resolution as may be appropriate. Every
temporary bond shall be executed by the City and be issued by
the Paying Agent upon the same conditions and in substantially
the same form and manner as the definitive fully registered
bonds. If the City issues temporary bonds, it will execute and
furnish definitive bonds without delay, and, thereupon, the
temporary bonds shall be surrendered for cancellation at the
San Francisco
principal office of the Paying Agent in Lee-ATtcfeles,
California, or at such other place in California as the City
may approve. The Paying Agent shall deliver in exchange for
the surrendered temporary bonds an equal aggregate principal
amount of definitive bonds of authorized denominations of this
same issue. Until exchanged, the temporary bonds shall be
entitled to the same benefits under this Resolution as
definitive bonds of this same issue, except no accrued interest
shall be paid on the temporary bonds until the exchange has
been accomplished. 1
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57
SECTION 6. Execution and Authentication of the
Bonds. The bonds shall be signed on behalf of the City by its
Mayor and by its Treasurer by facsimile signatures and by its
Acting City Clerk by facsimile signature, and the seal of the
City shall be impressed, imprinted or reproduced thereon. The
foregoing officers are hereby authorized and directed to sign
the bonds in accordance with this Section. If any City member
or officer whose facsimile signature appears on the bonds
ceases to be a member or officer before delivery of the bonds,
his or her signature is as effective as if he or she had
remained in office.
The Paying Agent shall authenticate the bonds on
registration and/or exchange to effectuate the registration and
exchange provisions set forth in this Section 5, and only those
bonds that have endorsed on them a certificate of
authentication, substantially in the form set forth in the form
of bond, duly executed by the Paying Agent, shall be entitled
to any rights, benefits or security under this Resolution. No
bond shall be valid or obligatory for any purpose unless and
until the certificate of authentication thereon has been duly
executed by the Paying Agent. The certificate of the Paying
Agent upon any bond shall be conclusive and the only evidence
required that the bond has been duly authenticated and
delivered under this Resolution. The Paying Agent's
certificate of authentication on any bond shall be deemed to
have been duly executed if signed by an authorized officer of
EWE
a
the Paying Agent, but it shall riot be necessary that the same
officer sign the certificate of authentication on all of the
bonds that may be issued hereunder.
SECTION 7. Registration, Transfers and Exchanges.
Any bond may, in accordance with its terms, be transferred,
upon the books required to be kept pursuant to the provisions
of this Section 6, by the person in whose name it is
registered, in person or by his duly authorized attorney, upon
surrender of such fully registered bond for cancellation,
accompanied by delivery of a written instrument of transfer in
a form approved by the Paying Agent, duly executed.
Whenever any bond or bonds shall be surrendered for
transfer, the Paying Agent shall authenticate and deliver a new
bond or bonds of the same series and maturity, for the like
aggregate principal amount of bond or bonds surrendered.
Bonds may be exchanged at the principal corporate
San Francisco
trust office of the Paying Agent in TaGs—Angpelee, California for
a like aggregate principal amount of bonds of other authorized
denominations of the same series and maturity.
The person, firm or corporation requesting the
transfer or exchange shall pay any costs or charges in
connection with the transfer or exchange as are established by
the Paying Agent, in addition to paying any tax or governmental
charge that may be imposed in connection with the transfer or
exchange.
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359
SECTION 8. Registration Book. The Paying Agent
will keep at its principal Corporate Trust Office in the City
San Francisco
of California, or at such other place in
California as the City may approve, sufficient books for the
registration and transfer of the bonds. The books shall at all
times be open to inspection by the City; and, upon presentation
for such purpose, the Paying Agent shall under such reasonable
regulations as it may prescribe, register or transfer, or cause
to be registered or transferred, on the register, the bonds as
hereinbefore provided.
SECTION 9. Optional Redemption. The bonds
maturing prior to August 1, 2000 are not subject to call and
redemption prior to maturity. The bonds maturing on or after
August 1, 2000 ma
of the City, from
any Interest Paym
and if in part as
and by lot within
prices, expressed
thereof, together
redemption:
i be redeemed prior to maturity at the option
any source of funds, on August 1, 1999 or on
int Date thereafter, as a whole or in part,
nearly as practicable on a pro -rata basis,
a maturity, at the following redemption
as a percentage of the principal amount
with accrued interest to the date of
Redemption Dates
August 1, 1999 or February 1, 2000
August 1, 2000 or February 1, 2001
August 1, 2001 or February 1, 2001
August 1, 2002 or February 1, 2002
August 1, 2003 and thereafter
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Redemption Prices
102.0%
101.5%
101.0%
100.5%
100.0%
SECTION 10. Acquisition and Construction Fund. The
proceeds of the sale of the bonds (except premium, if any, and
accrued interest, which shall be deposited in the Debt Service
Fund (as hereinafter defined)) shall be forthwith placed in the
treasury of the City to the credit of the "City of San Juan
Capistrano (Open Space Program) Bond Acquisition and
Construction Fund" and the moneys in said fund shall be applied
exclusively to the acquisition and construction of the works
and the payment of the costs described in the recitals hereof,
except as provided in the provisions of Chapter 4 of Division 4
of Title 4 of the California Government Code (Sections 43600
et sec.).
SECTION 11. Security. The City Council, so far as
practicable, shall fix such rate or rates for a tax to be
levied in the City as will result in revenues which will pay
the interest on any bonded debt (including the interest on
bonds herein provided for), and provide a sinking or other fund
for the payment of the principal of such debt as it may become
due (including the bonds herein provided for). If the revenues
of the City are, or in the judgment of the City Council will
probably be, inadequate for any cause to pay the principal of
or interest on the bonds herein provided for as said principal
and interest become due, and the amounts above set forth, the
City Council must cause a tax to be levied, as provided in the
provisions of Chapter 4 of Division 4 of Title 4 of the
California Government Code (Sections 43600 et seq.), sufficient
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to provide for such deficit and to pay the amount of such
principal and interest as will become due before the proceeds
of a tax levied at the next general tax levy will be
available. The City Council shall determine the fiscal year
for all of the amounts above set forth, and shall fix the rate
or rates of tax to be levied which will raise the amounts of
money required by the City for such purposes, and as required
by the provisions of Chapter 4 of Division 4 of Title 4 of the
California Government Code (Sections 43600 et sec.), the City
Council shall certify to the County Auditor of the County of
Orange (the "Auditor") the rate or rates so fixed and shall
furnish to the Auditor a statement in writing containing the
following: (a) an estimate of the minimum amount of money
required to be raised by taxation during the fiscal year for
the payment of the principal of and interest on the bonds
herein provided for, as will become due before the proceeds of
a tax levied at the next general tax levy will be available;
(b) an estimate of the minimum amount of money required to be
raised by taxation during the fiscal year for all other
purposes of the City; and (c) any other items required by the
provisions of Chapter 4 of Division 4 0£ Title 4 of the
California Government Code (Sections 43600 et sec.). The
Auditor shall compute and enter in the county assessment roll
the respective sums to be paid as a city tax on the property
within the City using the rate or rates of levy as fixed by the
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City Council and the assessed value as found on the assessment
roll for the property subject to the tax.
It shall be the duty of all county officers charged
with the duty of collecting taxes to collect such tax in time,
form and manner as county taxes are collected and when
collected to pay the same to the City.
All such and taxes for the payment of principal and
interest on such bonds shall be established, levied and
collected as provided in the provisions of Chapter 4 of
Division 4 of Title 4 of the California Government Code
(Sections 43600 et sec.).
All moneys derived from such taxes and all other
moneys allocated and designated for payment of said bonds and
the interest thereon, together with the proceeds of the sale of
the bonds designated as premium and accrued interest, shall be
placed in a fund of the City designated "City of San Juan
Capistrano (Open Space Program) Debt Service Fund" (the "Debt
Service Fund"), and until all of said bonds and all interest
thereon have been fully paid the moneys in said fund shall be
used for no other purpose than the payment of said bonds and
the interest thereon
SECTION 12. Tax Covenants. City hereby covenants
and agrees with the owners of the bonds to take no action
which, in the opinion of Bond Counsel, would result in the
interest received by the bond owners being includable in gross
income for federal income tax purposes. In order to preserve
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RM
the exclusion from gross income for federal income tax purposes
of interest due with respect to the bonds, City covenants to
comply with all applicable requirements of the Code, together
with any amendments thereto or regulations promulgated
thereunder necessary to preserve such exclusion and
specifically covenants, without limiting the generality of the
foregoing, that:
(a) it will make no use of Gross Proceeds which
at any time will cause the bonds to be "arbitrage bonds" within
the meaning of Section 148 of the Code and applicable
regulations adopted thereunder by the Internal Revenue Service;
(b) it will not use in excess of 5% of the Net
Proceeds of the bonds to make or finance loans to any person
other than a governmental unit (other than loans which are used
to acquire or carry Nonpurpose Investments or are for the
purpose of enabling the borrower to finance any governmental
tax or assessment of general application for a specific
essential governmental function, all as set forth in Section
141(c) of the Code);
(c) it will not both (i) use or permit the use
of more than ten percent (10%) of the Net Proceeds of the bond
for any private business use and (ii) enter into an arrangement
such that more than ten percent (10%) of the principal of the
bonds or ten percent (10%) of the interest due on the bonds
during the term thereof is, directly or indirectly, secured by
any interest in (i) property used or to be used for a private
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business use or (ii) payments in respect of such property or to
be derived from payments in respect of property, or borrowed
money, used or to be used for a private business use, all as
set forth in Section 141(b) of the Code, and, in the event that
,
both (i) an amount in excess of five percent (5%) of the Net
Proceeds is used for a private business use, and (ii) an amount
in excess of five percent (5%) of the principal or five percent
(5%) of the interest due on the bonds during the term thereof
is, under the terms of the bonds or any underlying arrangement,
directly or indirectly secured by any interest in property used
or to be used for said private business use or in payments in
respect of property used or to be used for said private
business use or is to be derived from payments, whether or not
to the City, in respect of property or borrowed money used for
to be used for said private business use, then such excess over
five percent (5%) of Net Proceeds used for a private business
use shall be used for a private business use related to the
governmental use of the improvement project, or take any other
action which would cause the bonds to be "private activity
bonds" within the meaning of Section 141(a) of the Code; and
(d) it will not take any action that would cause
the bonds to be "federally guaranteed" within the meaning of
Section 149(b) of the Code and, in that regard, no portion of ^
the moneys contained in any of the funds or accounts created
herein shall be (i) used in making loans guaranteed by the
United States (or any agency or instrumentality thereof);
(ii) invested directly or indirectly in deposits or accounts
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365
insured by the Federal Deposit Insurance Corporation, National
Credit Union Administration or any other similar federally
chartered corporation; (iii) otherwise invested directly or
indirectly in obligations guaranteed (in whole or in part) by
the United States (or any agency or instrumentality thereof);
except (1) for proceeds of the issue invested for an initial
temporary period until such proceeds are needed for the purpose
for which the issue was issued; (2) for amounts held in any
reserve funds satisfying Section 148(d) of the Code; (3) for
amounts held in the Debt Service Fund and other bona fide debt
service funds; (4) for investments in bonds issued by the
United States Treasury; (5) for investments in obligations
guaranteed by the Federal National Mortgage Association,
Government National Mortgage Association or Federal Home Loan
Mortgage Corporation; or (6) for investments permitted under
regulations issued pursuant to Section 149(b)(3)(B) of the Code.
ADOPTED, SIGNED AND APPROVED this 19th day of
June , 1990.
(SEAL)
ATTZ-,W
Ayinglcig ulerx of the city or
S n Juan acistrano
06/12/90
9663n/2658/001 -16-
EXHIBIT A
UNITED STATES OF AMERICA
STATE OF CALIFORNIA
COUNTY OF ORANGE
SERIES 1990 GENERAL OBLIGATION BOND OF CITY OF
SAN JUAN CAPISTRANO (OPEN SPACE PROGRAM)
INTEREST MATURITY ORIGINAL ISSUE
RATE DATE DATE CUSIP NO.
REGISTERED OWNER:
PRINCIPAL AMOUNT:
CITY OF SAN JUAN CAPISTRANO, a municipal corporation
situated in the County of Orange, State of California, (herein
called the "City"), duly organized and existing under and by
virtue of the Constitution and laws of the State of California,
hereby acknowledges its indebtedness and promises to pay to the
registered owner named above or registered assigns, herein
sometimes referred to as "registered owner", the principal sum
stated above on the maturity date dated above, and to pay such
registered owner by check or draft mailed by first class mail,
postage prepaid, thereto, or, at the request of an owner of in
excess of $1,000,000 aggregate principal amount of bonds, by
wire transfer, at his/her address as it appears on the register
kept by the Paying Agent at the close of business on the
fifteenth day of the month preceding the Interest Payment Date,
as hereinafter defined (the "Regular Record Date"), interest on
such principal sum from each February 1 and August 1,
commencing February 1, 1991 (each an "Interest Payment Date")
next preceding the date of authentication (unless (i) the date
of authentication is prior to the first Regular Record Date in
which event from August 1, 1990 (ii) the date of authentication
is after a Regular Record Date and before the following
Interest Payment Date, and if the City shall not default in the
payment of interest due on such Interest Payment Date, as
hereinafter defined, in which event it shall bear interest from
such Interest Payment Date or (iii) it is authenticated as of
an Interest Payment Date, in which event it shall bear interest
from such date) until the principal hereof shall have been paid
or provided for in accordance with the Resolution hereinafter
referred to, at the rate above indicated, payable on each
A-1
Interest Payment Date. Both principal and interest and any
premium upon the redemption prior to the maturity of all or
part hereof are payable in lawful money of the United States of
America, and (except for interest which is payable by check,
draft or wire as stated above) are payable at the principal
corporate trust office of (Name of Paying Agent to come),
Paying Agent for the City, in Les-Anele-s, California.
San Francisco
The principal of this bond and the interest hereon may be
paid from taxes levied for the payment of the principal of this
bond and the interest hereon which taxes shall be levied
exclusively upon the taxable property in the City.
This bond is issued in fully registered form and is
nonnegotiable. It may be exchanged for a like aggregate
principal amount of bonds of other authorized denominations of
the same series and maturity, all as more fully set forth in
the Resolution of Issuance, Resolution No. 90-6-19-7 (the
"Resolution"). This bond is transferable by the registered
owner hereof, in person or by his attorney duly authorized in
writing, qcan ke p r1tpo
E, - nge-ipal corporate trust office of the Paying
Agent in �es, California, but only in the manner,
subject to the limitations and upon payment of the charges
provided in the Resolution, upon surrender and cancellation of
this bond. Upon such transfer a new registered bond of
authorized denomination or denominations for the same aggregate
principal amount of the same series and maturity will be issued
to the transferee in exchange therefor.
The bonds maturing before August 1, 2000 are not subject to
call and redemption prior to maturity. The bonds maturing on
or after August 1, 2000 may be redeemed, at the option of the
District on August 1, 1999, or on any Interest Payment Date
thereafter prior to maturity, in whole or in part, and if in
part as nearly as practicable on a pro -rata basis and by lot
within a maturity, at the following redemption prices,
expressed as a percentage of the principal amount thereof,
together with accrued interest to the date of redemption:
Redemption Dates
August 1, 1999 or February 1, 2000
August 1, 2000 or February 1, 2001
August 1, 2001 or February 1, 2002
August 1, 2002 or February 1, 2003
August 1, 2003 and thereafter
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Redemption Prices
102.0%
101.5%
101.0%
100.5%
100.0%
km
The City and the Paying Agent may treat the registered
owner hereof as the absolute owner hereof for all purposes, and
the City and the Paying Agent shall not be affected by any
notice to the contrary.
This bond shall not be entitled to any benefit under the
Resolution, or become valid or obligatory for any purpose,
until the certificate of authentication hereon endorsed shall
have been signed by the Paying Agent.
It is hereby recited, certified and declared that any and
all acts, conditions and things required to exist, to happen
and to be performed precedent to and in the issuance of this
bond exist, have happened and have been performed in due time,
form and manner as required by the Constitution and laws of the
State of California.
IN WITNESS WHEREOF, THE CITY OF SAN JUAN CAPISTRANO has
caused this bond to be signed by the Mayor of said City and by
the Treasurer, and countersigned by the Acting City Clerk of
said City, by their printed, lithographed or engraved facsimile
signatures, and sealed with the official seal of said City.
r oY the City of San
(SEAL)
Treasurer of the City o San
Juan Capistrano
COUNTERSI
.v ing z �lerx ui �
o Sa Jua Capistrano
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7
369
(FORM OF CERTIFICATE OF AUTHENTICATION]
This is one of the Fully Registered bonds described in the
within -mentioned Resolution.
[PAYING AGENT TO COME)
Registration
Date:
By:
Authorized Officer
[FORM OF ASSIGNMENT OF BONDS)
For value received hereby
sells, assigns and transfers unto
(Social Security or Identification
No. ) the within -mentioned bond and hereby
irrevocably constitutes and appoints
attorney, to transfer the same on the books of the Paying Agent
with full power of substitution in the premises.
Dated:
Signature Guarantee
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STATE OF CALIFORNIA )
ss.
COUNTY OF ORANGE )
I, George Scarborough-' Acting City Clerk of the City
of San Juan Capistrano, DO HEREBY CERTIFY that the foregoing
resolution was duly adopted by the City Council of said City at
a regular meeting of said City Council held on the 19th day of
June 1990, and that it was so adopted by the following
vote:
AYES: Councilmembers: Schwartze, Friess, Buchheim, Bland
and Mayor Hausdorfer
NOES: Councilmembers: None
ABSENT: Councilmembers: None
ABSTAIN: Councilmembers:
(SEAL)
STATE OF CALIFORNIA
COUNTY OF ORANGE
ss.
I, George Scarborough , Acting City Clerk of the City
of San Juan Capistrano, DO HEREBY CERTIFY that the above and
foregoing is a full, true and correct copy of RESOLUTION
N0.90-6-19-7of said City Council, and that the same has not been
amended or repealed.
Dated: 6-19-90 , 195
(SEAL)
06/12/90
9663n/2658/001