HomeMy WebLinkAboutReso 124-1990RESOLUTION NO. 124-90
CITY COUNCIL, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA
A RESOLUTION CALLING FOR BIDS FOR BONDS, APPROVING OFFICIAL
STATEMENT AND RELATED DOCUMENTS, AND AUTHORIZING AND DIRECTING
CERTAIN ACTIONS WITH RESPECT THERETO FOR THE POINTE GRAND BUSINESS
PARK ASSESSMENT DISTRICT
WHEREAS, pursuant to its Resolution of Intention No. 82-90
adopted on June 27, 1990, this Council proposes to issue and sell
its Limited Obligation Improvement Bonds, City of South San
Francisco, Pointe Grand Business Park Assessment District, Series
1990-A (the "Bonds") in a principal amount of not to exceed
$2,687,242;
WHEREAS, in connection with such sale the City's Financial
Advisor, Kelling, Northcross & Nobriga, have prepared and
presented to this Council a form of Notice of Intention to Sell
Improvements Bonds and Official Statement containing information
material to the offering and sale of the Bonds;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of South San Francisco:
1. The City Manager or such other official of the City as
may be designated by this Council (the "Authorized Official") is
authorized and directed to publish the Notice of Intention to Sell
Improvement Bonds in the Bond Buyer, to call for bids for the
sale of the Bonds at a time and place to be determined by the
Authorized Official, and to award the sale of the Bonds to the
successful bidder on behalf of the City.
2. Upon award of sale of the Bonds on behalf of the City,
the Bonds shall be printed, authenticated and delivered, all in
accordance with the applicable terms of the bid and the Resolution
Authorizing the Issuance of the Bonds, and the Authorized Official
and other responsible City officials are hereby authorized and
directed to take such actions as are required thereunder to
complete all actions required to evidence the delivery of the
bonds and the receipt of the purchase price thereof from the
successful bidder for the Bonds.
3. The Council hereby approves the Preliminary Official
Statement describing the financing described herein, in
substantLally the form on file with the Authorized Official,
together with any changes therein or additions thereto deemed
advisable by the Authorized Official. The Council approves and
authorizes the distribution of the Preliminary Official Statement
to prospective purchasers of the Bonds, and authorizes and directs
the Authorized Official on behalf of the City to deem "final"
pursuant to Rule 15c2-12 under the Securities Exchange Act of 1934
(the "RuLe") the Official Statement prior to its distribution to
perspective purchasers of the Bonds. The Final Official
Statement, which shall include such changes and additions thereto
deemed advisable by the Authorized Official and such information
permitted to be excluded from the Preliminary Official Statement
pursuant to the Rule, shall be conclusive evidence of the approval
of the Final Official Statement by the City.
4. Ail actions heretofore taken by the officers and agents
of the City with respect to the establishment of the assessment
district and the sale and issuance of the Bonds are hereby
approved, confirmed and ratified, and the proper officers of the
City are hereby authorized and directed to do any and all things
and take any and all actions and execute any and all certificates,
agreements, contracts, and other documents, 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 this
resolution, and any certificate, agreement, contract, bid and
other document described in the documents herein approved.
5. This resolution shall take effect upon its adoption.
I hereby certify that the foregoing Resolution was regularly
introduced and adopted by the City Council of the City of South
San Francisco
of ^uqust
AYES:
NOES:
ABSTAIN:
at a re~u]ar meeting held on the 8th day
, 1990, by the following vote:
£nunrilmembers Jack DraOo, Gus Nicolopulos, Roberta Cerri
Teglia, and Mayor Richard A. Marley
None~
None
ABSENT:
Councilman John R. Penna
City Clerk
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