Resolution Number CRA 98-6-16-1311
RESOLUTION NO. CRA 98-6-16-1
AWARDING SAN JUAN CAPISTRANO COMMUNITY REDEVELOPMENT
AGENCY 1998 TAX ALLOCATION REFUNDING BONDS
A RESOLUTION OF THE SAN JUAN CAPISTRANO COMMUNITY
REDEVELOPMENT AGENCY, AWARDING ITS 1998 TAX ALLOCATION
REFUNDING BONDS IN THE PRINCIPAL AMOUNT OF $6,315,000 TO THE
BEST BIDDER AND REJECTING ALL OTHER BIDS AND APPROVING,
AUTHORIZING AND DIRECTING EXECUTION OF INDENTURE OF TRUST
RELATING THERETO, APPROVING OFFICIAL STATEMENT AND
RATIFYING ALL ACTIONS OF THE STAFF HERETOFORE TAKEN (SUTRO
& CO., INC.)
WHEREAS, at the time and place fixed for the opening of bids for the 1998 tax
allocation refunding bonds of San Juan Capistrano Community Redevelopment Agency (the
"Agency") designated the "Bonds", all bids were publicly opened, examined and read, and a
tabulation thereof has been entered in the minutes; and,
WHEREAS, the bid of the bidder hereinafter named is the best bid made by a
responsible bidder for the Bonds; and,
WHEREAS, this Board of Directors of the Agency (the `Board of Directors') has
heretofore adopted Resolution No. CRA 98-5-19-1 titled "Resolution of the San Juan Capistrano
Community Redevelopment Agency Authorizing the Issuance ofNot to Exceed $6,500,000 Principal
Amount of San Juan Capistrano Central Redevelopment Project 1998 Tax Allocation Refunding
Bonds, 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 for Other Matters Properly Relating Thereto"; and,
WHEREAS, this Board of Directors desires to ratify and confirm all action of the
Staff of the Agency and the City of San Juan Capistrano heretofore taken pertaining to the Bonds.
NOW, THEREFORE, the Board of Directors of the San Juan Capistrano
Community Redevelopment Agency does hereby resolve, determine and order as follows:
SECTION 1.
The bid of $6,315,000, offering par, less an underwriter's discount of $63,150,
bearing interest payable on February 1, 1999, and semiannually thereafter at the rates of:
312
(August 1)
Principal
Interest
(August 1)
Principal
Interest
Year
Amount
Rate
Year
Amount
Rate
1999
$210,000
4.500%
2009
$365,000
4.350%
2000
250,000
4.500
2010
380,000
4.450
2001
260,000
4.500
2011
400,000
4.550
2002
275,000
4.250
2012
415,000
4.625
2003
285,000
4.250
2013
435,000
4.750
2004
295,000
4.100
2014
455,000
4.800
2005
310,000
4.200
2015
475,000
4.850
2006
320,000
4.250
2016
500,000
4.875
2007
335,000
4.300
is the best bid for the Bonds, yielding the lowest true interest cost. Said bid is hereby accepted, and
the Bonds awarded to said best bidder, Sutro & Co., Inc., in accordance with the terms of the
proposal.
SECTION 2.
The interest rates on the Bonds are hereby fixed at the rates stated in Section 1 hereof.
SECTION 3.
The Secretary of the Agency is hereby directed to deliver the Bonds to the successful
bidder upon payment therefor.
SECTION 4.
All bids other than the one accepted in Section 1 hereof are rej ected, and the Secretary
of the Agency is directed to return the checks accompanying said rejected bids to the respective
bidders.
SECTION 5.
The Chairman and Secretary of the Agency or the designee of either such party, acting
together or alone, are hereby directed to execute and deliver the Indenture of Trust and the Official
Statement prepared in connection with the issuance of the Bonds in the forms currently on file with
the Secretary of the Agency, with such changes, additions or deletions as may be hereafter approved
by Bond Counsel to the Agency, and any additional documents necessary to carry out the purposes
of this Resolution.
2—
SECTION 6.
313
All actions of the Staff of said Agency and the City of San Juan Capistrano heretofore
taken in conjunction with the authorization of, notification regarding and issuance of the Bonds are
hereby ratified and confirmed.
PASSED, APPROVED, AND ADOPTED this 16th day of June, 1998.
WY T HART, CHAIRMAN
ATTEST:
AGENCY SECRETARY
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 98-6-16-1, adopted by the San Juan Capistrano Community Redevelopment
Agency Board of Directors at a regular meeting thereof held on the 16`h day of June, 1998, by the
following vote:
AYES: Directors Swerdlin, Greiner, Jones, Campbell
and Chairman Hart
NOES: None
ABSTAIN: None
ABSENT: None
(SEAL)
CHERYL JO ON, GENCY SECRETARY
ka
314
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 18th day of
June , 1998, I caused to be posted:
RESOLUTION NO. CRA 98-6-16-1 , being
AWARDING SAN JUAN CAPISTRANO COMMUNITY REDEVELOPMENT
AGENCY 1998 TAX ALLOCATION REFUNDING BONDS
A RESOLUTION OF THE SAN JUAN CAPISTRANO COMMUNITY
REDEVELOPMENT AGENCY, AWARDING ITS 1998 TAX ALLOCATION
REFUNDING BONDS IN THE PRINCIPAL AMOUNT OF $6,315,000 TO THE
BEST BIDDER AND REJECTING ALL OTHER BIDS AND APPROVING,
AUTHORIZING AND DIRECTING EXECUTION OF INDENTURE OF TRUST
RELATING THERETO, APPROVING OFFICIAL STATEMENT AND
RATIFYING ALL ACTIONS OF THE STAFF HERETOFORE TAKEN (SUTRO
& CO., INC.)
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 / —G —& —/
Chairman has signed
Secretary has signed
Agency Seal stamped
All blanks typed in
"Absent" Gam+
"Noes"
"Abstain"
Copies sent to post
file �G
mail certif' d
Legal Publication ordered to be published
(date)
No. Printed copies required
Remarks
3/z,
Cheryl Johnsci , A40ncy Secretary
San Juan Capistrano Community
Redevelopment Agency
San Juan Capistrano, California