HomeMy WebLinkAboutReso RDA 32-1982 JHHW:KIJ:jn 04/13/82 99/5B
RESOLUTION NO. 32
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE
CITY OF SOUTH SAN FRANCISCO CALLING FOR BIDS FOR NOTES;
APPROVING OFFICIAL NOTICE OF SALE OF NOTES AND
OFFICIAL STATEMENT, AND AUTHORIZING AND DIRECTING
CERTAIN ACTIONS WITH RESPECT THERETO
GATEWAY REDEVELOPMENT PROJECT
1982 TAX ALLOCATION NOTES
RESOLVED, by the Redevelopment Agency of the City of South San
Francisco, California, that
WHEREAS, pursuant to its Resolution No. 31 , adopted on April ,
1982, this Agency proposes to issue and sell Tax Allocation Notes in the
principal amount of $6,500,000;
WHERFJkS, pursuant to this Agency's authorization, the Agency's Bond
Counsel and Financial Consultant, have prepared and presented to this Agency
an Official Notice of Sale and Official Statement containing information
material to the offering and sale of said notes; and
WHEREAS, this Agency, with the aid of its staff, has reviewed said
Official Statement, has made such corrections and additions as it deems proper;
NOW, THEREFORE, IT IS ORDERED as follows:
1. Said Official Notice of Sale and Official Statement are approved
for distribution in the offering and sale of said notes.
2. The Secretary is authorized and directed to execute the Official
Statement, to execute the Official Notice of Sale on behalf of the Agency and
to call for bids for the sale of said notes, such bids to be received at the
offices of Jones Hall Hill & White, A Professional Law Corporation, Four
Embarcadero Center, Suite 1950, San Francisco, California on or before 11:00
o'clock a.m. on Wednesday, May 19, 1982, as provided in said Official Notice
of Sale, at which time and place the bids will be publicly opened, examined
and declared, and referred to the Agency Board at its meeting on said date.
3. The Secretary is also authorized to approve further corrections in
and additions to the Official Statement, by supplement thereto or amendment
thereof, or otherwise as appropriate, provided that any such corrections or
additions shall be necessary to cause the information contained therein to
conform with facts material to said notes or to the proceedings of this Agency
or that such corrections or additions are in form rather than substance.
4. The Secretary is authorized and directed
(a) to cause a Notice of Sale to be published once at least five
(5) days before the date of such public sale in a newspaper of general
circulation circulated within the Agency;
(b) to cause a notice of intention to sell the Notes to be
published once, at least fifteen days prior to the date for receipt of note
bids, in the Wall Street Journal, a financial publication generally circulated
throughout the State of California,
(c) to give written notice of the proposed sale, by mail, postage
prepaid, to the California Debt Advisory Commission no later than 10 days
prior to the sale, such notice to be given pursuant to Section 8855(g) of the
Government Code and to contain the information required by Section 8855(h).
5. Said Financial Consultants, on behalf of the Agency and its
Secretary, are authorized and directed to cause the Offical Notice of Sale and
Official Statement to be mailed at least five days before the aforesaid date
for receipt of note bids, to such municipal bond broker-dealers, to such
banking institutions and to such other persons as may be interested in
purchasing the notes therein offered for sale.
6. The Agency will furnish the legal opinion of the law firm of Jones
Hall Hill & White, A Professional Law Corporation, San Francisco, California,
unqualifiedly approving the legality of the proceedings and the issuance of
said notes.
The foregoing resolution was passed and adopted by the Redevelopment
Agency of the City of South San Francisco at a regular meeting thereof held on
the 21st day of April , 1982, by the following vote, to wit:
AYES: Members Ronald G. Acosta, Mark N. Addiego, Emanuele N. Damonte,
Gus Nicolopulos, and Roberta Cerri Teglia
NOES: Members None
ABSENT: Members None
APPROVED:
Chairman / '
ATT~T: