Resolution Number 13-12-03-01RESOLUTION NO, 13-12-03-01
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN JUAN
CAPISTRANO, CALIFORNIA, AFFIRMING THE CITY'S COMMITMENT TO
MEET ITS WATER SYSTEM DEBT OBLIGATIONS
WHEREAS, the San Juan Basin Authority Lease Revenue Bonds (Ground Water
Recovery Project) Issue of 2002, were issued for the construction of the Groundwater
Recovery Plant serving the San Juan Capistrano service area and are secured by lease
payments required to be made by the City from the gross water revenues of the City of San
Juan Capistrano; and,
WHEREAS, the San Juan Capistrano Public Financing Authority Revenue
Certificates of Participation: Series 2002, San Juan Capistrano Public Financing Authority
Revenue Certificates of Participation, Series 2004, and City of San Juan Capistrano
Revenue Certificates of Participation, Series 2009 (collectively, the "Certificates of
Participation:); were i executed and delivered to construct various capital improvements
within the San Juan Capistrano service area and evidence installment sale payments
required to be made by the City from net water revenues of the City of San Juan
Capistrano; and,
WHEREAS, the City intends to continue to make its payments under the Lease
Agreement dated December 1, 2002, related to the San Juan Basin Authority Lease
Revenue Bonds (Ground Water Recovery Project) Issue of 2002; and,
WHEREAS, the City desires to reassure its bond investors that the City will continue
to meet all its bond obligations.
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of San
Juan Capistrano does hereby:
Affirm that the City will continue to pay its obligations under the Lease Agreement
dated December 1, 2002, related to the San Juan Basin Authority Lease Revenue
Bonds (Groundwater Recovery Project) Issue of 2002 and will continue to meet all
its obligations related to the San Juan Basin Authority Lease Revenue Bonds
(Ground Water Recovery Project) Issue of 2002 and the Certificates of Participation.
PASSED, APPROVED, AND ADOPTED this 3rd day of December 2013.
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SAM ALLEVATO, MAYOR
ATTEST:
MARIA -MORRIS, CITY CLERK
12/3/2013
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.
CITY OF SAN JUAN CAPISTRANO )
I, MARIA MORRIS, appointed City Clerk of the City of San Juan Capistrano, do hereby
certify that the foregoing Resolution No. 13-12-03-01 was duly adopted by the City
Council of the City of San Juan Capistrano at a Regular meeting thereof, held the 3rd day
of December 2013, by the following vote:
AYES- COUNCIL MEMBERS: Byrnes, Taylor, Kramer and Mayor Allevato
NOES- COUNCIL MEMBER: None
ABSENT: COUNCIL MEMBER: None
ABSTAIN: COUNCIL MEMBER: Reeve
MARIA MORRISJCity Clerk
2 12/3/2013