2018-02 RESOLUTION NO. 2018-02
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GRAND TERRACE,
STATE OF CALIFORNIA APPROVING AN EXPENDITURE OF BOND PROCEEDS
WHEREAS, the Community Redevelopment Agency of the City of Grand
Terrace, ("Redevelopment Agency") was formed for the purpose of revitalizing areas
within the City of Grand Terrace pursuant to Health and Safety Code ("HSC") Section
33000, et seq.; and
WHEREAS, pursuant to Assembly Bill 1x26, enacted on June 28, 2011, and
Assembly Bill 1484, enacted on June 27, 2012, (collectively the "Dissolution Act");, the
Redevelopment Agency was dissolved on February 1, 2012; and
WHEREAS, on January 10, 2012, the Grand Terrace City Council adopted
Resolution 2012-01, pursuant to Part 1.85, of the Dissolution Act, by which the City
Council elected to serve as the Successor Agency to the Redevelopment Agency upon
the dissolution of the Redevelopment Agency under AB 26 ("Successor Agency")
commencing on February 1, 2012; and
WHEREAS, pursuant to Health and Safety Code section 34191.4(c), after a
successor agency has received a finding of completion from the State Department of
Finance ("DOF"), a Successor Agency, with the approval of its Oversight Board, may list
enforceable obligations to expend excess bond proceeds on its Recognized Obligation
Payment Schedule ("ROPS"), so long as such expenditures are consistent with the
bond covenants; and
WHEREAS, the Successor Agency received a Finding of Completion from the
DOF on May 9, 2013; and
WHEREAS, the Successor Agency has excess bond proceeds from the
$15,175,000 Grand Terrace Redevelopment Agency's Community Redevelopment
Project Area 2011A Tax Allocation Bonds ("Bond Proceeds") which were issued for the
purpose of financing public improvements within the Project Area; and
WHEREAS, the DOF approved a Bond Proceeds Expenditure Agreement
between the Successor Agency and the City of Grand Terrace ("City") enabling the City
to expend or allocate the Bond Proceeds for expenditures consistent with the applicable
covenants of the 2011 Tax Allocation Bonds ("2011 TAB"); and
WHEREAS, the expenditure approved in this Resolution is a public improvement
within the intent and purpose the 2011 TAB and is consistent with the 2011 TAB
covenants.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF GRAND
TERRACE DOES RESOLVE, DETERMINE, AND ORDER AS FOLLOWS:
2018-02 CC Reso Page 1 of 2 January 23, 2018
SECTION 1. The City Council finds that the above recitations are true and
correct and, accordingly, are incorporated herein as findings and a material part of this
Resolution.
SECTION 2. That the City Manager is herein authorized to expend $29,106 of
the Bond Proceeds to inventory and repair sidewalks throughout the City of Grand
Terrace.
SECTION 3. If any section, subsection, sentence, clause, phrase, or portion of
this Resolution is for any reason held to be invalid or unconstitutional by the decision of
any court of competent jurisdiction, such decision shall not affect the validity of the
remaining portions of this Resolution. The City Council of the City of Grand Terrace
hereby declares that it would have adopted this Resolution and each section,
subsection, sentence, clause, phrase, or portion thereof irrespective of the fact that any
one or more sections, subsections, sentences, clauses, phrases, or portions be
declared invalid or unconstitutional.
SECTION 4. All resolutions and other actions of the City Council in conflict with
the contents of this Resolution are hereby repealed.
SECTION 5. This Resolution shall go into full force and effect immediately, but
the individual fees shall become effective as provided by the applicable provisions of
State Law.
SECTION 6. The City Clerk shall certify to the adoption of this Resolution
PASSED, APPROVED AND ADOPTED by the City Council of the City of Grand
Terrace at a regular meeting held on the 23rd day of January 2018.
r
Darcy McNahoe, Khyor
ATTEST:
v
Debra L. Thomas, City Clerk
APPROVED AS TO FORM:
Richard L. Adams, II
City Attorney
2018-02 CC Reso Page 2 of 2 January 23, 2018
STATE OF CALIFORNIA }
COUNTY OF SAN BERNARDINO }
CITY OF GRAND TERRACE
I Debra L. Thomas, City Clerk of the CITY OF GRAND TERRACE, CALIFORNIA,
DO HEREBY CERTIFY that the foregoing Resolution, being Resolution No. 2018-02
was duly passed, approved and adopted by the City Council, approved and signed by
the Mayor, and attested by the City Clerk, at the regular meeting of said City Council
held on the 231d day of January 2018, and that the same was passed and adopted by
the following vote:
AYES: Council Members Wilson, Hussey, Henderson; Mayor Pro Tern
Robles; Mayor McNaboe
NOES: None.
ABSENT: None.
ABSTAIN: None.
Executed this 101h day of January 2018, at Grand Terrace, California.
Debra L. Thomas
City Clerk
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