HomeMy WebLinkAboutReso 1982-110846230C JHHW:CFA:dfd 11/05/82
11/08/82
RESOLUTION NO. 11084
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA
SELLING $9,600,000 PRINCIPAL AMOUNT OF CITY OF CHULA VISTA DEPOSIT
WITH LENDER REVENUE BONDS (BANK OF AMERICA NATIONAL TRUST
AND SAVINGS ASSOCIATION), ISSUE OF 1982, APPROVING RELATED
DOCUMENTS AND OFFERING MEMORANDUM, AND AUTHORIZING OFFICIAL ACTION
WHEREAS, the City of Chula Vista (the "City") proposes to issue its City of
Chula Vista Deposit with Lender Revenue Bonds (Bank of America National Trust and
Savings Association), Issue of 1982, (the "Bonds") in the aggregate principal
amount of $9,600,000, under and pursuant to an Indenture of Trust (the "Indenture")
dated as of November 1, 1982, between the City and First Interstate Bank of
California as trustee (the "Trustee"); and
WHEREAS, Merrill Lynch, Pierce, Fenner & Smith Incorporated has submitted an
offer to purchase the Bonds; and
WHEREAS, it is appropriate at this time for the City Council to award the
sale of the Bonds and approve and authorize the execution of the Indenture and
other financing documents relating to the Bonds;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Chula
Vista as follows:
Section 1. Sale of Bonds. The Bonds are hereby awarded to Merrill Lynch,
Pierce, Fenner & Smith Incorporated, pursuant to and in accordance with the terms
of that certain agreement, entitled "Bond Purchase Agreement" and dated as of
November 18, 1982, by and between the City and said purchaser. The Mayor of the
City is hereby authorized and directed to execute said Agreement for and in the
name and on behalf of the City.
Section 2. Indenture. The Indenture, in substantially the form presented
to the City Council at this meeting together with any additions thereto or changes
therein deemed necessary or advisable by Jones Hall Hill & White, A Professional
Law Corporation, as bond counsel to the City, is hereby approved. The Mayor of the
City is hereby authorized and directed to execute and the City Clerk of the City is
hereby authorized and directed to attest and affix the seal of the City to said
agreement for and in the name and on behalf of the City.
Section 3. Time Deposit Agreement. That certain agreement, entitled "Time
Deposit Agreement" and dated as of November 1, 1982, by and between the City and
Bank of America National Trust and Savings Association (the "Lender") in
substantially the form presented to the City Council at this meeting together with
any additions thereto or changes therein deemed necessary or advisable by Jones
Hall Hill & White, A Professional Law Corporation, as bond counsel to the City, is
hereby approved. The Mayor of the City is hereby authorized and directed to
execute and the City Clerk of the City is hereby authorized and directed to attest
and affix the seal of the City to said agreement for and in the name and on behalf
of the City.
Section 4. Program Agreement. That certain agreement, entitled "Program
~greement" and dated as of November 1, 1982, by and between the City, the Lender and
Shula Vista Marina - R. V. Park, Ltd., in substantially the form presented to the
City Council at this meeting together with any additions thereto or changes therein
deemed necessary or advisable by Jones Hall Hill & White, A Professional Law
Corporation, as bond counsel to the City, is hereby approved. The Mayor of the City
is hereby authorized and directed to execute and the City Clerk of the City is
hereby authorized and directed to attest and affix the seal of the City to said
Agreement for and in the name and on behalf of the City.
Section 5. Offering Memorandum. The final Offering Memorandum, dated
November 1982, in the form submitted to the City Council at this meeting by Bank of
America National Trust and Savings Association, as placement agent, is hereby
approved, together with any additions to or changes in the form of said Offering
Memorandum as said placement agent may deem necessary or advisable. Distribution
heretofore by said placement agent of the Offering Memorandum is hereby approved,
confirmed and ratified.
Section 6. Official Action. All actions heretofore taken by the officers
and agents of the City with respect to the sale and issuance of the Bonds are hereby
approved, confirmed and ratified, and the Mayor, the City Clerk, the Finance
Director, the City Manager, the Community Development Director and any and all
other officers of the City are hereby authorized and directed, for and in the name
and on behalf of the City, to do any and all things and take any and all actions
relating to the execution and delivery of any and all certificates, requisitions,
agreements and other documents, including but not limited to those described in the
Bond Purchase Agreement, which they, or any of them, may deem necessary or
advisable in order to consummate the lawful issuance and delivery of the Bonds in
accordance with the Bond Purchase Agreement, the Indenture and this resolution.
Section 7. Effective Date. This resolution shall take effect from and
after its adoption.
PASSED AND ADOPTED by the City Council of the City of Chula Vista, this 18th
day of November, 1982, by the following vote:
AYES: Malcolm, Moore, McCandliss, Cox
NOES: None ~ ~. ~Jj
ABSTAINED: Scott O~
or
Attest:
C ~
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CLERK'S CERTIFICATE
I, Jennie M. Fulasz , City Clerk of the City of
Chula Vista, hereby certify that the foregoing resolution w s duly adopted by the
City Council of the City of Chula Vista at its regular meeting
regularly and legally held at the regular meetin~ place thereof on November 18,
1982, of which meeting all of said members had due notice and at which at least a
majority thereof were present; and at which said resolution was adopted by the
following vote:
AYES: Malcolm. Moore, McCandliss, Cox
NOES: None
ABSTAINED: Scott
I further certify that I have carefully compared the foregoing with the
original minutes of said meeting on file and of record in my office, and the
foregoing is a full, true and correct copy of the original resolution adopted at
~% Clerk ~
City of Chula Vista
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