Resolution Number SJCPFA 04-08-17-01RESOLUTION NO. SJCPFA 04-08-17-01
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SAN JUAN
CAPISTRANO PUBLIC FINANCING AUTHORITY, AUTHORIZING THE
EXECUTION AND DELIVERY OF NOT TO EXCEED $23,000,000
REVENUE CERTIFICATES OF PARTICIPATION, APPROVING THE
EXECUTION AND DELIVERY OF CERTAIN DOCUMENTS AND A
PRELIMINARY OFFICIAL STATEMENT, APPROVING THE TIME AND
PLACE FOR TAKING ELECTRONIC BIDS, APPROVING THE NOTICE
INVITING BIDS AND AUTHORIZING CERTAIN ACTIONS IN
CONNECTION THEREWITH
WHEREAS, the San Juan Capistrano Public Financing Authority is a joint of
powers authority organized and existing under the laws of the State of California (the
"Authority") with the authority to assist in the financing and refinancing of capital
improvements on behalf of the City of San Juan Capistrano (the "City"); and
WHEREAS, the City has determined that it would be in the best interests of the
City and citizens of the community to authorize the preparation and delivery of Revenue
Certificates of Participation in an aggregate principal amount not to exceed $23,000,000
(the "Certificates"), to finance the costs of certain capital improvements to the water
system of the City and the cost of improvements to certain facilities which serve the City
and deems it proper and the necessity therefore appears that bids be invited for the sale
of the Certificates and that if bids are satisfactory said Certificates to be sold in the
manner and at the time and place hereinafter set forth; and
WHEREAS, the City and the Authority desire to enter into that certain Installment
Purchase Agreement, by and between the City and the Authority (the "Installment
Purchase Agreement"), the form of which is on file with the Authority, that certain Trust
Agreement, by and among the Trustee named therein, as trustee (the "Trustee"), the
City and the Authority (the "Trust Agreement"), the form of which is on file with the
Authority and that certain Assignment Agreement, by and between the Authority and the
Trustee (the "Assignment Agreement"), the form of which is on file with the Authority;
and
WHEREAS, a preliminary official statement with respect to the Certificates (the
"Preliminary Official Statement"), the form of which is an file with the Authority;
NOW, THEREFORE, BE IT RESOLVED, that the Board of Directors of the
Authority San Juan Capistrano Public Financing Authority does hereby:
SECTION 1. Authorize the preparation, sale and delivery of the Certificates in an
aggregate principal amount not to exceed $23,000,000 in accordance with the terms
and provisions of the Trust Agreement. The purposes for which the proceeds of the
sale of the Certificates shall be expended is to finance the costs of certain capital
improvements to the water system of the City and the cost of improvements to certain
08-17-2004