1985-25 RESOLUTION NO. 85-25
RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF GRAND TERRACE, SAN BERNARDINO COUNTY,
CALIFORNIA, MAKING APPOINTMENTS AND DESIGNATIONS
AND MAKING OTHER DETERMINATIONS INCIDENT TO THE
ISSUANCE AND SALE OF REFUNDING CERTIFICATES OF
PARTICIPATION (CIVIC CENTER PROJECT)
WHEREAS, the City has heretofore caused $3, 430, 000
Certificates of Participation, dated as of December 1,1 '1983
(the "Certificates" ) , to be issued and delivered to the
purchaser thereof to finance the Civic Center Project; and-.
WHEREAS, the City Council proposes to cause issuance and
sale of Refunding Certificates of Participation (the "Refunding
Certificates" ) to accomplish and advance refunding .of' the
original Certificates :
WHEREAS, the City Council desires to make necessary
appointments and designations to accomplish the advance
refunding of the original Certificates :
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Grand Terrace as follows :
(a) M. F. Whipple & Co. , Inc . is hereby designated as the
underwriter for the purchase of the Refunding
Certificates (the "Underwriter" ) , -subject to approval
of a Purchase Agreement;
(b) Nazarek, Harper, Hopkins & McFarlin is hereby
designated as special counsel for the purpose of
preparing all documents and rendering of all opinions
necessary for the issuance and sale of the Refunding
- Jr Certificates ( "Special Counsel" ) , subject to approval
of an agreement for special counsel services; and
- ( c) Crocker National Bank is hereby appointed as Trustee,
Registrar and Paying Agent (the "Trustee" ) , subject
to approval of an agreement for such services.
Section 3. The City Council hereby authorizes and
approves the participation of the Community Redevelopment
Agency of the City of Grand Terrace as set forth in the
agreements.
Section 4. The Underwriter is hereby authorized and
directed to make application to those insurance companies and
rating agencies deemed appropriate by the Underwriter for
purposes of obtaining an insurance commitment and/or rating on
the Refunding Certificates.
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Section 5. This Resolution shall take effect upon its
adoption.
ADOPTED this 21st day of November 1985.
ATTEST:
XA
City,Cle-rk of t City of Mayor t of rand
Grand. -Terraced of the Terrace nd f the Cit
City Council thereof. Council thereof.
I, ILENE DUGHMAN, City Clerk of the City of ' Grand Terrace,
do hereby certify that the foregoing Resolution was introduced
and adopted at a regular meeting of the City Council of the City
of Grand Terrace held on the 21 st day of November 1985 by
the following vote:
AYES: Councilmembers Matteson, Petta, Pfenniahausen, Evans ;
Mayor Grant
NOES: None
ABSENT: None
ABSTAIN: None
City Cl
Approved. as to form: -
� G
City Att r
(SEAL)
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