HomeMy WebLinkAboutCC Resolution 9010 (Peacock Gap Reassessment District)RESOLUTION NO. 9010
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF SAN RAFAEL
DECLARING ITS PRELIMINARY INTENTION TO
REFUND 1915 ACT IMPROVEMENT BONDS AND
DIRECTING THE PREPARATION OF A REPORT THEREON
(PEACOCK GAP REASSESSMENT DISTRICT)
WHEREAS, the City Council of the City of San Rafael
(the "City"), by proceedings duly had and taken, previously
provided for the issuance of the 1915 Act Improvement Bonds for
its Peacock Gap Improvement District (the "Prior Bonds"), under
and pursuant to the conditions and terms of the Improvement Bond
Act of 1915 (being Division 10 of the California Streets and
Highways Code), the unmatured portion of which is now
outstanding; and
WHEREAS, this City Council is authorized to issue
refunding bonds (the "Refunding Bonds") for the purpose of
refunding the outstanding principal amount of the Prior Bonds
under and pursuant to the conditions and terms of the Refunding
Act of 1984 for 1915 Improvement Act Bonds (being Division 11.5
of the California Streets and Highways Code) (the "Act"), and may
provide for the levy and collection of reassessments as security
for the Refunding Bonds; and
WHEREAS, this City Council has determined,
preliminarily, to proceed with such refunding, provided that it
can be accomplished without notice and hearing on the basis of
the three conditions prescribed by Section 9525 of the Act, with
satisfaction of such.conditions being evidenced by the written
report to be prepared and submitted in conformity with Sections
9523 and 9524 of the Act;
NOW, THEREFORE, The City Council of the City of San
Rafael hereby resolves:
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Section 1. The foregoing recitals are true and
correct, and this City Council so finds and determines.
Section 2. This City Council hereby preliminarily
determines that the public interest and necessity require the
refunding of the Prior Bonds under and pursuant to the Act,
subject to further proceedings under the Act.
Section 3. The City Council hereby preliminarily
declares that it intends to issue the Refunding Bonds to refund
the Prior Bonds and to levy and collect reassessments as security
for the Refunding Bonds under and pursuant to the Act.
Section 4. The City Council hereby refers the matter
of the proposed refunding of the Prior Bonds and the levy and
collection of reassessments as security for the Refunding Bonds
to Muni Financial Services ("MFS"), as the qualified firm
retained by the City in these proceedings, and hereby directs
said MFS to prepare and file with the City Clerk a report in
writing containing the matters specified in Section 9523 of the
California Streets and Highways Code.
Section 5. When the report provided for in Section 4
hereof is filed with the City Clerk, the City Clerk is directed
to present said report to this City Council for consideration
pursuant to Sections 9524 and 9525 of the Act.
I, JEANNE M. LEONCINI, Clerk of the City of San
Rafael, California, hereby certify that the foregoing resolution
was duly and regularly introduced and adopted at a regular
meeting of the Council of said City held on the 7th day of
September, 1993, by the following vote, to wit:
AYES: COUNCILMEMBERS: Breiner, Cohen, Shippey, Thayer & Mayor Boro
NOES: COUNCILMEMBERS: None
ABSENT: COUNCILMEMBERS: None ,
JE . LEONC WI, City Clerk
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