HomeMy WebLinkAboutCC RES 02-063RESOLUTION NO. 02-63
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A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF TUSTIN,
CALIFORNIA, APPROVING THE EXECUTION AND DELIVERY OF A
SIXTH SUPPLEMENTAL FISCAL AGENT AGREEMENT AND
OTHER MATTERS RELATED THERETO
WHEREAS, pursuant to a Fiscal Agent Agreement, dated as of February 1, 1996
(the "Original Agreement"), by and between the City of Tustin (the "City") and State
Street Bank and Trust Company of California, N.A. (the "Fiscal Agent"), the City issued
its Limited Obligation Improvement Bonds, Reassessment District No. 95-2 (Tustin
Ranch), Series A (the "Series A Bonds") in the aggregate principal amount of
$41,500,000;
WHEREAS, the Original Agreement was amended and supplemented pursuant
to a First Supplemental Fiscal Agent Agreement, dated as of September 1, 1996, by and
between the City and the Fiscal Agent, a Second Supplemental Fiscal Agent
Agreement, dated as of November 1, 1997, by and between the City and the Fiscal
Agent, a Third Supplemental Fiscal Agent Agreement, dated as of November 1, 1998,
by and between the City and the Fiscal Agent, a Fourth Supplemental Fiscal Agent
Agreement, dated as of November 1, 1999, by and between the City and the Fiscal
Agent, and a Fifth Supplemental Fiscal Agent Agreement, dated as of November 1,
2001, by and between the City and the Fiscal Agent (as so amended and
supplemented, the "Fifth Amended Original Agreement") (all capitalized terms used in
these recitals shall have the meanings ascribed thereto in the "Fifth Amended Original
Agreement");
WHEREAS, the Fifth Amended Original Agreement provides that the Fifth
Amended Original Agreement and the rights and obligations of the City, the Fiscal Agent
and the Owners of Fixed Rate Bonds may be modified or amended from time to time
and at any time, by a Supplemental Agreement which the City and the Fiscal Agent may
inter into without the consent of any Bond Owners for the purpose of curing any
ambiguity, inconsistency or omission, or for curing or correcting any defective provisions
contained in the Fifth Amended Original Agreement;
WHEREAS, the City desires to amend the Fifth Amended Original Agreement to
pure an omission with respect to the Fifth Amended Original Agreement by entering into
~ Sixth Supplemental Fiscal Agent Agreement with the Fiscal Agent (such Sixth
supplemental Fiscal Agent Agreement, in the form presented to this meeting, being
~eferred to herein as the "Sixth Supplemental Agreement");
WHEREAS, the City has determined that all things necessary to cause the
authorization, execution and delivery of the Sixth Supplemental Agreement have in all
~espects been duly authorized; and
WHEREAS, there have been prepared and submitted to this meeting the form of
he Sixth Supplemental Agreement;
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NOW, THEREFORE, BE IT RESOLVED by the City Council the City of Tustin as
follows:
Section 1. The Sixth Supplemental Agreement, in substantially the form
submitted to this meeting and made a part hereof as though set forth herein, be and the
same is hereby approved. The Mayor of the City, the Mayor Pro Tem of the City, or
such other member of the City Council as the Mayor may designate, the City Manager of
the City and the Director of Finance/Treasurer of the City, or such other officer of the
City as the City Manager or the Director of Finance/Treasurer may designate (the
"Authorized Officers") are, and each of them is, hereby authorized and directed, for and
in the name of the City, to execute and deliver the Sixth Supplemental Agreement in the
form submitted to this meeting, with such changes, insertions and omissions as the
Authorized Officer executing the same may require or approve, such requirement or
approval to be conclusively evidenced by the execution of the Sixth Supplemental
Agreement by such Authorized Officer.
Section 2. The Authorized Officers are, and each of them hereby is, authorized
and directed to execute and deliver any and all documents and instruments and to do
and cause to be done any and all acts and things necessary or proper for carrying out
the transactions contemplated by the Fifth Amended Original Agreement, the Sixth
Supplemental Agreement and this Resolution.
Section 3. All actions heretofore taken by the officers and employees of the City
with respect to the issuance and sale of the Group Four Bonds, or in connection with or
related to any of the agreements or documents referenced herein, are hereby approved,
confirmed and ratified.
Section 4. This Resolution shall take effect immediately upon its adoption.
APPROVED and ADOPTED by the City Council of the City of Tustin on
July 1, 2002.
i
eff ry M. Thomas, Mayor
ATTEST:
_ <~-~~-
Pamela Stoker, City Clerk
City of Tustin
RESOLUTION CERTIFICATION
STATE OF CALIFORNIA
COUNTY OF ORANGE
CITY OF TUSTIN
RESOLUTION NO. 02-63
SS
I, PAMELA STOKER, City Clerk and ex-officio Clerk of the City Council of the City of
Tustin, California, hereby certifies that the whole number of the members of the City
Council of the City of Tustin is five; and that the above and foregoing Resolution No. 02-
63 was adopted at a regular meeting of the City Council held on the 1St day of July, 2002,
by the following vote:
COUNCILMEMBER AYES:
COUNCILMEMBER NOES:
COUNCILMEMBER ABSTAINED
COUNCILMEMBER ABSENT:
Thomas, Worley, Bone, Doyle, Kawashima
None
None
None
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Pamela Stoker, City Clerk