HomeMy WebLinkAboutCC RES 01-062RESOLUTION NO. 01-62
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF TUSTIN, CALIFORNIA,
APPROVING THE ISSUANCE OF LONG TERM BONDED INDEBTEDNESS BY
THE ORANGE COUNTY FIRE AUTHORITY FOR THE PURPOSE OF FINANCING
THE REGIONAL FIRE OPERATIONS AND TRAINING CENTER
WHEREAS, the City of Tustin is a member of the Orange County Fire Authority (the
"Authority"); and
WHEREAS, the Amended Orange County Fire Authority Joint Powers Agreement dated as of
September 23, 1999 (the "JPA Agreement") establishing the Authority requires that two-thirds of the
members of the Authority approve the issuance of long term bonded indebtedness by the Authority;
and
. WHEREAS, the Authority has requested that its member agencies approve the issuance of
' long term bonded indebtedness for the purpose of financing the Regional Fire Operations and
Training Center (the "Facility"); and
WHEREAS, the Authority has submitted to the City a Preliminary Financing Plan dated as of
May 24, 2001; and
WHEREAS, the City desires to approve the issuance of long term bonded indebtedness for
the Facility as described in the Preliminary Financing Plan;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF TUSTIN, CALIFORNIA, does
hereby resolve as follows:
SECTION 1:
Each of the foregoing recitals is true and correct.
SECTION 2: in accordance with the JPA Agreement, the City hereby approves the
issuance by the Authority of long term bonded indebtedness in a principal amount not to exceed
$28,500,000 (the "Bonds") with a true interest cost not to exceed 5.5% and with a final maturity of not
more that nine years for the purpose of financing the Facility. The City acknowledges that in the
event that two-thirds of the members of the Authority approve the issuance of the Bonds, the
Authority may issue the Bonds without any further approvals from the City.
SECTION 3:
This resolution shall take effect immediately upon its adoption.
PASSED AND ADOPTED at a 'regular meeting of the City Council of the City of Tustin on the
18th day of June, 2001.
ATTEST:
Pamela Stoker
City Clerk
Tracy Wills Worley
Mayor
City of Tustin
RESOLUTION CERTIFICATION
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) SS
CITY OF TUSTIN )
RESOLUTION NO. 01-62
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. 01-62 was adopted
at a regular meeting of the City Council held on the 18th day of June, 2001, by the following
vote:
COUNCILMEMBER AYES: Thomas, Bone, Doyle, Kawashima
COUNCILMEMBER NOES: None
COUNCILMEMBER ABSTAINED: None
COUNCILMEMBER ABSENT: Worley
Pamela Stoker, City Clerk