1991-27 i
RESOLUTION NO. 91 -2 7
A RESOLUTION OF THE GRAND TERRACE PUBLIC
FINANCING AUTHORITY AMENDING RESOLUTION NO
91-23 BY ADDING THE PICO PARK DEVELOPMENT
PROJECT LEASE AND ESTABLISHING A MAXIMUM
-INTEREST RATE AND UNDERWRITERS DISCOUNT
WHEREAS, the Grand Terrace Public Financing Authority has hereto adopted Resolution
No. 91-23 relating to the Grand Terrace Public Financing,,Authority 1991 Lease-Purchase
Revenue Bonds, Series A; and
WHEREAS, the Grand Terrace Public Financing Authority desires to amend said
' Resolution by adding the Pico Park Improvement Lease and establishing a maximum interest rate
and Underwriters Discount.
NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED by the
Board of Directors of the Grand Terrace Public Financing Authority as follows:
1. The foregoing recitals are true and correct.
2. Resolution No. 91-23 is hereby amended to include the Lease Agreement (Pico
Park Improvement Project) in the definition of Lease Agreements, by establishing
eight percent (8%) as the maximum interest rate on the Bonds and by establishing
the Underwriters Discount as two and one-half percent (2.5%).
r`
3. This Resolution shall take effect from and after the date of its passage and
adoption.
PASSED AND ADOPTED this 22th day of August, 1991, by the following vote:
AYES: Councilmen Matteson, Grant , Carlstrom and Christianson
NOES: None
ABSENT: Councilman Hilkey
GRAND TERRACE PUBLIC
FINANCING AUTHORITY
By: �.
BYR MATT ON, MAYOR
Attest: �
BRENDA_STANFILL diTY CLERK
APPROVED AS TO FORM:
JOHN R. HARPE ITY ATTORNEY
-2-
STATE OF CALIFORNIA
COUNTY OF SANBERNARDINO
CITY OF GRAND TERRACE
I , BRENDA STANFILL, CITY CLERK of the CITY OF GRAND TERRACE,
CALIFORNIA, DO HEREBY CERTIFY that the foregoing resolution , being
resolution No . 91-27 WAS DULY PASSED, APPROVED AND ADOPTED BY THE
City Council , approved and signed by the Mayor , and attested by the
City Clerk, all at the said regular meeting of said City Council
held on the 22nd day of August, 1991, and that the same was passed
and adopted by the following vote :
AYES : Councilmen Matteson ; Grant , Carlstrom and Christianson
NOES : None
ABSENT : Councilman HIlkey
ABSTAIN : None
�! EXECUTED this 22nd day of August, 1991, at GRAND TERRACE,
California .
BR NDA STANFIL ITY L- ERK
CITY OF GRAND TERRACE
STATE OF CALIFORNIA