HomeMy WebLinkAboutCC Resolution 7062 (Purchase Fire Truck)RESOLUTION NO. 7062
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SAN RAFAEL APPROVING, AUTHORIZING AND DIRECTING
EXECUTION OF CERTAIN LEASE FINANCING DOCUMENTS,
AUTHORIZING AND DIRECTING EXECUTION OF A PURCHASE
AGREEMENT, APPROVING A PRELIMINARY OFFICIAL
STATEMENT AND AUTHORIZING AND DIRECTING CERTAIN
ACTIONS WITH RESPECT THERETO (RE FINANCING OF A
FIRE TRUCK AND A PUBLIC WORKS PATCH TRUCK)
THE CITY COUNCIL OF THE CITY OF SAN RAFAEL RESOLVES as follows:
WHEREAS, the City of San Rafael (the "City") working
together with the cities of Modesto, Rocklin, Antioch, Ceres and
San Pablo (collectively referred to herein as the "Lessees") and
the Association of Bay Area Governments (the "Association"), is
proposing to proceed with a joint lease financing; and
WHEREAS, in connection therewith, the City is proposing
to proceed with lease financing of certain property described in
Exhibit C to the Lease Agreement (as hereinbelow referred to) (the
"Project") and it is in the public interest and for the public
benefit that the City authorize and direct execution of the Lease
Agreement and other financing documents in connection therewith;
and
WHEREAS, pursuant to the City's authorization, Kelling &
Co., (the "Underwriter"), has prepared and presented to the City a
preliminary official statement containing information material to
the offering and sale of the Certificates of Participation des-
cribed below (the "Preliminary Official Statement"); and
WHEREAS, the documents below specified have been filed
with the City, and the members of the City Council, with the aid
of its staff, have reviewed said legal documents and Preliminary
Official Statement.
NOW, THEREFORE, it is hereby ORDERED and DETERMINED,
as follows:
SECTION 1. The below -enumerated documents be and are
hereby approved, and the Mayor or City Manager is hereby authorized
and directed to execute said Agreements, with such changes,
insertions and omissions as may be approved by such official, and
the City Clerk is hereby authorized and directed to attest to such
official's signature:
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RESOLUTION NO. 70
a) a lease agreement, relating to the Project, between
the Association, as lessor, and the City, as lessee (the "Lease
Agreement");
b) a trust agreement, by and among the Association, the
Lessees and a trustee to be chosen by the Lessees and the Associa-
tion (the "Trustee"), relating to the financing of the acquisition
of the Project, and the execution and delivery of certificates of
participation evidencing the proportionate interests of the owners
thereof in lease payments to be made by the City under the Lease
Agreement and in the lease payments to be made by the Lesees under
separate lease agreements (the "Certificates of Participation");
c) a deposit agreement, relating to the deposit by the
City with the Trustee of an amount equal to the non -asset portion
of the principal amount of the Lease Agreement, between the City,
the Trustee and Fireman's Fund Insurance Company; and
d) a purchase agreement by and among the Underwriter
(whether acting alone or with a co -manager), the Lessees and the
Trustee relating to the purchase by the Underwriter of the Certi-
ficates of Participation so long as the interest rate with respect
to the Certificates of Participation will not produce annual lease
payments payable under the Lease Agreement in excess of $69,362,
so long as the principal amount of the Certificates of Partici-
pation attributable to the City will not exceed $255,000, and so
long as the Underwriter's discount with respect to the Certificates
does not exceed 3-1/49.
SECTION 2. The City Manager, Finance Director and other
officials of the City are hereby authorized and directed to
execute such other agreements, documents and certificates as may
be necessary to effect the purposes of this resolution and the
lease financing herein authorized.
SECTION 3. To the best of the City Council's knowledge,
information and belief, the Preliminary Official Statement contains
no untrue statement of a material fact with respect to the City or
omits to state a material fact with respect to the City required
to be stated where necessary to make a statement not misleading in
the light of the circumstances under which it was made.
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RESOLUTION NO. .-62
SECTION 4. The Preliminary Official Statement is approved
for distribution in the offering and sale of the Certificates of
Participation.
SECTION 5. The City Manager or Finance Director is
authorized to approve corrections and additions to the Preliminary
Official Statement by supplement or amendment thereto, or other-
wise as appropriate, provided that any such corrections or addi-
tions shall be necessary to cause the information contained
therein to conform with facts material to the Certificates of
Participation, or to the proceedings of the City or such correc-
tions or additions are in form rather than in substance.
SECTION 6. The City Manager or Finance Director is
authorized and directed to cause the Preliminary Official Statement
to be brought into the form of a final official statement (the
"Final Official Statement") and to execute said Final Official
Statement, dated as of the date of the sale of the Certificates of
Participation, and a statement that the facts contained in the
Final Official Statement, and any supplement or amendment thereto
(which shall be deemed an original part thereof for the purpose of
such statement) were, at the time of sale of the Certificates of
Participation, true and correct in all material respects and that
the Final Official Statement did not, on the date of sale of the
Certificates of Participation, and does not, as of the date of
delivery of the Certificates of Participation, contain any untrue
statement of a material fact with respect to the City or omit to
state material facts with respect to the City required to be
stated where necessary to make a statement not misleading in the
light of the circumstances under which it was made. The Mayor,
City Manager, Assistant City Manager or Finance Director shall
take such further actions prior to the signing of the statement as
are deemed necessary or appropriate to verify the accuracy of the
statement.
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RESOLUTION NO. 2
I, JEANNE M. LEONCINI, Clerk of the City of San Rafael,
hereby certify that the foregoing resolution was duly and regularly
introduced and adopted at a regular meeting of the Council of said
City on Monday , the 18th day of March 1985, by the
following vote, to wit:
AYES: COUNCILMEMBERS:Breiner, Frugoli, Nave, Russom & Mayor Mulryan
NOES: COUNCILMEMBERS:None
ABSENT: COUNCILMEMBERS: None
JEA E Rs- AhNt�iy 'lerk
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