Resolution Number CRA 91-6-25-1RESOLUTION NO. CRA 91-6-25-1
AWARDING SAN JUAN CAPISTRANO COMMUNITY REDEVELOPMENT AGENCY
1991 TAX ALLOCATION REFUNDING BONDS
(PRUDENTIAL BACHE SECURITIES)
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SAN
JUAN CAPISTRANO COMMUNITY REDEVELOPMENT AGENCY,
SAN JUAN CAPISTRANO, CALIFORNIA, AWARDING ITS
1991 TAX ALLOCATION REFUNDING BONDS IN THE
PRINCIPAL AMOUNT OF $6,250,000 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.
WHEREAS, at the time and place fixed for the opening of bids
for the 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. 91-5-21-1
titled "Resolution of the San Juan Capistrano Community
Redevelopment Agency Authorizing the Issuance of Not to Exceed
$7,000,000 Principal Amount of San Juan Capistrano Central
Redevelopment Project 1991 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 Other Matters Properly Relating Thereto"; and
WEREAS, this Board of Directors desires to ratify and
confirm all actions 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 $6,156,250, including an underwriter's discount
of $93,750, plus accrued interest to date of delivery for the
Bonds bearing interest payable on February 1, 1992, and
semiannually thereafter at the rates of:
2 4''
(August 1)
Principal
Interest
(August 1)
Principal
Interest
Year
Amount
Rate
Year
Amount
Rate
1995
$135,000
6.30%
2002
$ 205,000
6.40%
1996
140,000
6.30
2003
220,000
6.50
1997
150,000
6.30
2004
235,000
6.50 ^
1998
160,000
6.30
2005
250,000
6.60
1999
170,000
6.30
2006
265,000
6.75
2000
180,000
6.30
2016
3,945,000
6.875
2001
195,000
6.30
is the best bid for the Bonds, yielding the lowest net interest
cost. Said bid is hereby accepted, and the Bonds awarded to said
best bidder 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.
The Secretary of the Agency is hereby directed to deliver the
Bonds to the successful bidder upon payment therefor.
All bids other than the one accepted in Section 1 hereof are
rejected, and the Secretary of the Agency is directed to return
the checks accompanying said rejected bids to the respective
bidders.
The Chairman and Secretary of the Agency are hereby directed to
execute and deliver the Indenture of Trust and the Prior Bonds
Escrow Deposit and Trust Agreement relating to the Bonds 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.
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.
5920u/2299/52 -2-
PASSED, APPROVED, AND ADOPTED
ATTEST:
243
this 25th day of June 1991.
rrRENCE HUCHHEIM, CHAIRMAN
5920u/2299/52 -3-
1
2 4'.
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF SAN JUAN CAPISTRANO )
I, Jeffrey C. Parker , Secretary of the San Juan Capistrano
Community Redevelopment Agency, San Juan Capistrano, California,
DO HEREBY CERTIM 5p,%t the foregoing is a true and correct copy of
Resolution No. 25-1_ adopted by the Board of Directors of the San
Juan Capistrano Community Redevelopment Agency, San Juan
Capistrano, California, at a regular meeting thereof held on
the 25th day of June , 1991, by the following vote:
AYES: Directors Jones, Hausdorfer, Vasquez and Chairman Buchheim
NOES: None
ABSTAIN: None
ABSENT: Director Friess
(SEAL)
5920u/2299/52 -4-
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss. AFFIDAVIT OF POSTING
CITY OF SAN JUAN CAPISTRANO )
JEFFREY C. PARKER, being first duly sworn, deposes and says:
That he is the duly appointed and qualified Acting 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 City Resolution No. CRA 83-12-20-1 and on the 26th day
of June , 1990, he caused to be posted:
RESOLUTION NO. CRA 91-6-25-1 being-.
AWARDING SAN JUAN CAPISTRANO COMMUNITY REDEVELOPMENT AGENCY
1991 TAX ALLOCATION REFUNDING BONDS
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SAN
JUAN CAPISTRANO COMMUNITY REDEVELOPMENT AGENCY,
SAN JUAN CAPISTRANO, CALIFORNIA, AWARDING ITS 1991 TAX
ALLOCATION REFUNDING BONDS IN THE PRINCIPAL AMOUNT
OF $6,250,000 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
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.
I (2s, 2
JEFFREY C. FARKER, Actingec etar
San Juan Capistrano Community
Redevelopment Agency