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CITY OF TUSTIN RESOLUTION NO. 93-17
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
TUSTIN, CALIFORNIA AUTHORIZING THE INVITATION OF
PROPOSALS FOR THE PURCHASE OF NOT TO EXCEED
$12,0000,000 AGGREGATE PRINCIPAL AMOUNT OF
CERTIFICATES OF PARTICIPATION OF SAID CITY;
APPROVING THE NOTICE INVITING BIDS AND THE NOTICE
OF INTENTION TO SELL CERTIFICATES; AND AUTHORIZING
THE DELIVERY OF THE PRELIMINARY OFFICIAL STATEMENT
AND THE PUBLICATION OF THE NOTICE OF INTENTION TO
SELL CERTIFICATES AND THE NOTICE INVITING BIDS
WHEREAS, this city Council deems it necessary and
proper that proposals be invited for the purchase of not to
exceed $12,000,000 aggregate principal amount of City of
Tustin, Water System Revenue Certificates of Participation,
1993 Series (the "Certificates") of the City of Tustin,
California (the "City"), and that the Certificates be sold in
the manner described below;
NOW, THEREFORE, the City Council of the City of
Tustin, California, DOES HEREBY RESOLVE, DETERMINE AND ORDER
as follows:
SECTION 1. Sealed proposals for the purchase of the
Certificates shall be received by the Director of Finance of
the City or his designee (the "Director of Finance") at the
date, time and place provided for in the Notice Inviting Bids
as hereinafter approved or at such other dates and times as
shall be determined by the Director of Finance.
SECTION 2. The form, terms and provisions of the
Notice Inviting Bids, as submitted to this meeting, are hereby
approved and adopted as part of this Resolution. The City
Clerk is hereby authorized and directed to cause such notice
to be published once, at least fifteen (15) days prior to the
earliest date for receiving proposals provided for therein, in
The Tustin News, the official newspaper of the City, with such
changes, insertions and omissions as the Director of Finance
or the City Clerk shall approve, such approval to be
conclusively evidenced by such publication of the Notice
Inviting Bids.
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Page 2, Resolution No. 93-17
BECTION 3. The form, terms and provisions of the
Notice of Intention to Sell Certificates, as submitted to this
meeting, are hereby approved and adopted as part of this
Resolution. The City Clerk is hereby authorized and directed
to cause such notice to be published once, at least fifteen
(15) days prior to the earliest date for receiving proposals
stated therein, in The Bond Buyer, a financial publication
circulated throughout California, with such changes,
insertions and omissions as the Director of Finance or the
City Clerk shall approve, such approval to be conclusively
evidenced by such publication of the Notice of Intention to
Sell Certificates.
SECTION 4. The Director of Finance may withdraw or
modify the Notice Inviting Bids and the Notice of Intention to
Sell Certificates, or either, at any time by notice published
via Munifacts wire or other means determined by the Director
of Finance to be reasonably calculated to reach potential
bidders for Certificates. If the Director of Finance should
withdraw the Notice Inviting Bids and the Notice of Intention
to Sell Certificates at any time before the Certificates are
awarded, and should at a later date determine that it is
desirable to receive bids for the Certificates, then the City
Clerk is hereby authorized to republish the Notice Inviting
Bids and the Notice of Intention to Sell Certificates with
such modifications or revisions as are approved by the
Director of Finance.
SECTION 5. The Director of Finance is hereby
authorized to approve a Preliminary Official Statement
relating to the Certificates (such approval to be conclusively
evidenced by the delivery thereof) (the "Preliminary Official
Statement") and the City Council hereby approves the use of
the Preliminary Official Statement in connection with the
offering and sale of the Certificates. The Director of
Finance is authorized to deem the Preliminary Official
Statement to be final within the meaning of Securities and
Exchange Commission Rule 15c2-12 subject to the completion of
those items permitted by said Rule.
SECTION 6. The City Clerk and the Director of
Finance are authorized and'directed to cause to be furnished
to prospective bidders for the Certificates, upon their
request, a reasonable number of copies of the Notice Inviting
bids and the Preliminary Official Statement.
SECTION 7. The Mayor, Director of Finance,
Treasurer, City Clerk, Deputy City Clerk and other appropriate
officers of the City are hereby further authorized and
directed to execute and deliver any and all documents and
instruments and to carry out the transactions contemplated by
the Preliminary Official Statement or this Resolution.
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Page 3, Resolution No. 93-17
PASSED AND ADOPTED by the City Council of the
city of Tustin at a regular meeting held on the 1st
day of March, 1993.
Mary E. W n, City ..lerk
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) SS
CITY OF TUSTIN )
CERTIFICATION FOR RESOLUTION NO. 93-17
Mary E. Wynn, City Clerk and ex-officio Clerk of
the City Council of the City of Tustin, California,
does hereby certify that the whole number of the
members of the City Council is five; that the above
and foregoing Resolution was duly and regularly
passed and adopted at a regular meeting of the City
Council held on the 1st day of March, 1993 by the
following vote:
COUNCILMEMBER AYES: Pontious, Ports, Puckett, Ssltarelli, Thoma
COUNCILMEMBER NOES: None
COUNCILMEMBER ABSTAINED: None
COUNCILMEMBER ABSENT: None
Mary E. ~,..'ynn, C'.ity Clerk