HomeMy WebLinkAbout4861_CCv0001.pdf RESOLUTION NO. 4861
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDLANDS
AUTHORIZING INVESTMENT OF PROCEEDS OF THE SALE OF CERTIFICATES
OF PARTICIPATION (1992 SOLID WASTE CAPITAL IMPROVEMENT
PROJECTS) IN THE COUNTY OF SAN BERNARDINO POOLED INVESTMENT
FUND
WHEREAS, it is in the best interest of the City of
Redlands (the "City" ) that the proceeds of the sale of
Certificates of Participation (1992 Solid Waste Capital
Improvement Projects) available for investment pursuant to that
certain Trust Agreement dated as of March 1 , 1992 , by an among
the City, Redlands Public Improvement Corporation and Security
Pacific National Bank, as trustee (the "Trustee" ) be invested,
in whole or in part, in the County of San Bernardino Pooled
Investment Fund;
NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED
BY THE CITY COUNCIL OF THE CITY OF REDLANDS AS FOLLOWS.
Section 1. The City Council hereby authorizes and
approves the investment of all or any portion of the proceeds
of the sale of $7 , 980 , 000 Certificates of Participation (1992
Solid Waste Capital Improvement Projects) evidencing
proportionate interests of the owners thereof in installment
payments to be made by the City of Redlands pursuant to an
Installment Sale Agreement with the Redlands Public Improvement
Corporation, in the County of San Bernardino Pooled Investment
Fund.
Section 2. That the Chief Financial Officer of the City
or his designee is hereby authorized to issue and deliver such
instructions to Security Pacific National Bank, as Trustee, as
he may deem appropriate to carry out the purposes of this
Resolution.
Section 3. Effective Date. This Resolution shall take
effect upon adoption.
ADOPTED this 10th day of March, 1992 .
Y;
ATTEST: Mayor '
City C erk
I , LORRIE POYZER, City Clerk of the City of Redlands,
California, do hereby certify that the foregoing Resolution
No. 4861 was regularly introduced and adopted by the City
Council of the City of Redlands, California, at a regular
meeting thereof held on the 10th day of March, 1992 , by the
following vote of the City Council :
AYES: Councilmembers Larson, Cunningham, Milson, Foster;
Mayor DeMirjyn
NOES: None
ABSENT: None
ABSTAIN: None
and that said Resolution has not been amended, superseded or
repealed, and is in full force and effect.
IN WITNESS WHEREOF, I have hereunto set my hand and
affixed the official seal of the City of Redlands, California,
this 10th day of March, 1992 .
City.7"