2018-16 RESOLUTION NO. 2018-16
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GRAND TERRACE
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 Oversight Board has 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 transmitted it to the DOF; and
WHEREAS, the expenditure approved in this Resolution is an Economic Development
incentive public improvement within the intent and purpose of the 2011 TAB and is consistent
with the 2011 TAB covenants.
2018-16 CC Reso Page 1 of 2 May 22, 2018
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF GRAND TERRACE
DOES RESOLVE, DETERMINE, AND ORDER AS FOLLOWS:
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 execute an Economic
Development Incentives Agreement with the City of Grand Terrace and Woody's
Classic Grill located at 22400 Barton Road in the amount of $50,000 of the Bond
Proceeds for Economic Development Incentive, contingent upon the DOF's approval of the
last and final ROPs and the Expenditure Agreement.
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 22nd day of May 2018.
Darcy !! e, Mayor
ATTEST: �—
1
Debra L. Thomas, City Clerk
APPROVED AS TO FORM:
Richard L. Adams, II
City Attorney
2018-16 CC Reso Page 2 of 2 May 22, 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. 2018-16
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 22"d day of May 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 23rd day of May 2018, at Grand Terrace, California.
Debra L. Thomas
City Clerk
[SEAL]