Resolution Number CRA 97-4-1-1263
RESOLUTION NO. CRA 97-4-1-1
AUTHORIZING ISSUANCE OF 1997 SUBORDINATED TAXABLE
TAX ALLOCATION BONDS (HOUSING). APPROVING EXECUTION
OF INDENTURE OF TRUST AUTHORIZING BID AND
APPROVING OFFICIAL STATEMENT
A RESOLUTION OF THE SAN JUAN CAPISTRANO COMMUNITY
REDEVELOPMENT AGENCY, AUTHORIZING ISSUANCE OF NOT TO
EXCEED $1,800,000 PRINCIPAL AMOUNT OF SAN JUAN CAPISTRANO
CENTRAL REDEVELOPMENT PROJECT 1997 SUBORDINATED TAXABLE
TAX ALLOCATION BONDS (HOUSING), APPROVING, AUTHORIZING AND
DIRECTING EXECUTION OF INDENTURE OF TRUST RELATING THERETO,
AUTHORIZING AND DIRECTING COMPETITIVE BID OF SALE OF SUCH
BONDS, APPROVING OFFICIAL STATEMENT AND PROVIDING OTHER
MATTERS PROPERLY RELATING THERETO
WHEREAS, the Community Redevelopment Agency of the City of San Juan
Capistrano (the "Agency") is authorized pursuant to the Community Redevelopment Law, being Part
1 of Division 24 (commencing with Section 33000) of the Health & Safety Code of the State of
California (the "Law") to issue its tax allocation bonds for the purpose of financing redevelopment
activities within and of benefit to its redevelopment project area; and,
WHEREAS, after due investigation and deliberation, the Agency has determined that
it is in the interests of the Agency at this time to provide for the issuance of its San Juan Capistrano
Community Redevelopment Agency, San Juan Capistrano Central Redevelopment Project 1997
Subordinated Taxable Tax Allocation Bonds (the "Bonds"), for the purpose of providing funds to
finance certain of the Agency's housing programs which are redevelopment activities within and of
benefit to the Agency's San Juan Capistrano Central Redevelopment Project Area; and,
WHEREAS, the Bonds are proposed to be issued pursuant to an Indenture of Trust
(the "Indenture") dated as of April 1, 1997, by and between the Agency and a banking institution
meeting the requirements of the Indenture as trustee, the preliminary form of which is attached hereto
as Exhibit A and is on file in the Office of the Agency Secretary; and,
WHEREAS, the Agency has caused to be prepared an Official Statement describing
the Bonds, the preliminary form of which is attached hereto as Exhibit B and is on file in the Office
of the Agency Secretary, and,
WHEREAS, the Agency with the aid of its Staff has reviewed the Indenture and the
Official Statement; and the Agency wishes at this time to approve the foregoing in the public interests
of the Agency; and,
WHEREAS, the Agency Board of Directors deems it proper and the necessity
therefor appears that bids be invited for the bonds in a principal amount not to exceed $1,800,000,
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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, by the San Juan Capistrano Community
Redevelopment Agency Board of Directors, City of San Juan Capistrano, California, as follows:
SECTION 1. Issuance of Bonds Approval of Indenture.
The Agency hereby authorizes the issuance of its San Juan Capistrano Central
Redevelopment Project 1997 Subordinated Taxable Tax Allocation Bonds under and pursuant to the
Law and the Indenture, in the maximum aggregate principal amount of $1,800,000. The Agency
hereby approves the Indenture in substantially the form thereof attached hereto as Exhibit A and is
on file in the Office of the Agency Secretary, together with any additional thereto or changes therein
deemed necessary or advisable by Fieldman, Rolapp & Associates, the "Financial Advisor" of the
Agency, including, without limitation, the addition to the Indenture of the final interest rates payable
with respect to the Bonds, and execution of the indenture shall be deemed conclusive evidence of the
Agency's approval of such additions or changes. The chairman and Secretary of the Agency are
hereby authorized and directed to execute, attest and affix the seal of the Agency to the Indenture for
and in the name and on behalf of the Agency. The Agency hereby authorizes the delivery and
performance of the Indenture.
SECTION 2.
Sealed proposals for the purchase of bonds of said Agency in a principal amount not
to exceed $1,800,000 be received by this Agency Board of Directors at the office of Fieldman,
Rolapp & Associates, 2100 Main Street, Suite 210, Irvine, California 92614, on April 15, 1997, up
to the hour of 10:00 o'clock A.M. and, if determined in the best interests of the Agency, each
consecutive Tuesday until the Bonds are sold.
RECTION 3.
The Secretary of the Agency is hereby authorized and directed to cause to be
published a notice inviting such sealed proposals by one insertion 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
$1,800,000
SAN JUAN CAPISTRANO COMMUNITY REDEVELOPMENT AGENCY
SAN JUAN CAPISTRANO CENTRAL REDEVELOPMENT PROJECT,
1997 SUBORDINATED TAXABLE TAX ALLOCATION BONDS
ORANGE COUNTY, CALIFORNIA
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Bids will be received up to 10:00 o'clock a.m., April 15, 1997, at Fieldman, Rolapp
& Associates, 2100 Main Street, Suite 210, Irvine, California 92614 for the purpose of subordinated
taxable tax allocation bonds of SAN JUAN CAPISTRANO COMMUNITY REDEVELOPMENT
AGENCY.
The Bonds will mature on August 1, 2007, and on August 1, 2017, respectively, as
provided in the Indenture of Trust for such issue. Interest will be paid on August 1, 1997 and
semiannually thereafter on February 1 and August 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:
Tom Johnsen, 2100 Main Street, Suite 210, Irvine, California 92614, (714)660-8500.
Cheryl Johnson
Agency Secretary
SECTION 4.
The preliminary official statement presented to this Board of Directors is approved
in substantially the form attached hereto as Exhibit B and is on file in the Office of the Agency
Secretary. The Bond Counsel is authorized to make such changes in and additions to the preliminary
official statement prior to mailing as may be approved by the Agency's Finance Director or required
by the Agency's Bond Counsel, and the Agency's Finance Director 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 Chairman of the Agency 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 5.
The Agency Secretary 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 Agency; but the failure, 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 in the form attached hereto as Exhibit C and
is on file in the Office of the Agency Secretary.
. SECTION 6.
The Agency Executive Director is hereby authorized and directed to engage a banking
form meeting the requirements of the Indenture as Trustee for the Bonds and to execute any and all
documents necessary to implement such engagement.
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SECTION 7. Official Action.
All actions heretofore taken by the officers and agents of the Agency with respect to
the issuance of the Bonds are hereby approved, confirmed and ratified. The Chairman, the Executive
Director, the Deputy Executive Director, the Secretary, the Treasurer, and the General Counsel of
the Agency and any and al other officers of the Agency are hereby authorized and directed and, for _
and in the name and on behalf of the Agency, to do any and all things and take any and all actions,
including execution and delivery of any and all assignments, certificates, requisitions, agreements
(including but not limited to an agreement providing for investment of the proceeds of the Bonds and
a Continuing Disclosure Agreement), notices, consents, instruments of conveyance, warrants and
other documents, which they, or any of them, may deem necessary or advisable in order to
consummate the sale, issuance and delivery of the bonds to the underwriter for the Bonds pursuant
to the documents approved herein.
thereof.
SECTION 8. Effective Date.
This Resolution shall take effect from and after the date of approval and adoption
PASSED, APPROVED, AND ADOPTED this 1st day of
April , 1997.
ATTEST:
AGENCY P-CRFTARY
WYAT HART, C AN
KIM
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STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF SAN JUAN CAPISTRANO )
I, CHERYL JOHNSON, Agency Secretary of the San Juan Capistrano Community
Redevelopment Agency, DO HEREBY CERTIFY that the foregoing is a true and correct copy of
Resolution No. CRA 97-4-1-1 adopted by the San Juan Capistrano Community
Redevelopment Agency Board of Directors at a regular meeting thereof held on the 1 st day
of April 1 1997, by the following vote:
AYES: Directors Jones, Greiner, Swerdlin, Campbell
and Chairman Hart
NOES: None
ABSTAIN: None
ABSENT: None
(SEAL)
CHERYL J0HXS0TfAGENCY SECRETARY
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STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss AFFIDAVIT OF POSTING
CITY OF SAN JUAN CAPISTRANO )
I, CHERYL JOHNSON, declare as follows:
That I am the duly appointed and qualified Secretary of the San Juan Capistrano
Community Redevelopment Agency;
That in compliance with State laws of the State of California and in further compliance
with CRA Resolution No. CRA 83-12-20-1 and on the 3rd _ day of April
1997, I caused to be posted:
RESOLUTION NO. CRA 97-4-1-1 , being
AUTHORIZING ISSUANCE OF 1997 SUBORDINATED TAXABLE
TAX ALLOCATION BONDS (HOUSING), APPROVING EXECUTION
OF INDENTURE OF TRUST AUTHORIZING BID, AND
APPROVING OFFICIAL STATEMENT
A RESOLUTION OF THE SAN JUAN CAPISTRANO COMMUNITY
REDEVELOPMENT AGENCY, AUTHORIZING ISSUANCE OF NOT TO
EXCEED $1,800,000 PRINCIPAL AMOUNT OF SAN JUAN CAPISTRANO
CENTRAL REDEVELOPMENT PROJECT 1997 SUBORDINATED TAXABLE
TAX ALLOCATION BONDS (HOUSING), APPROVING, AUTHORIZING AND
DIRECTING EXECUTION OF INDENTURE OF TRUST RELATING THERETO,
AUTHORIZING AND DIRECTING COMPETITIVE BID OF SALE OF SUCH
BONDS, APPROVING OFFICIAL STATEMENT AND PROVIDING OTHER
MATTERS PROPERLY RELATING THERETO
in three (3) public places in the City of San Juan Capistrano, to wit: City Hall; Old Fire Station
Recreation Complex; Orange County Public Library.
CHECK LIST
RES. NO. CRA 9 1- 4-1- /
Chairman has signed
—� Secretary has signed
Agency Seal stamped
All blanks typed in
"Absent"
"Noes"
"Abstain" .49 --
Copies sent to post .3
file 3.fD•30
mail 7 ce�0rrtified
�, nai.C.KC"-
Legal Publication ordered to be published
(date)
No. Printed copies required
Remarks
(iI
Cheryl Johns ncy Secretary
San Juan Capistrano Community
Redevelopment Agency
San Juan Capistrano, California