HomeMy WebLinkAbout6540_CCv0001.pdf RESOLUTION NO. 6540
RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF REDLANDS, STATE OF CALIFORNIA APPROVING THE ISSUANCE OF
CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY
REVENUE BONDS (MONTESSORI IN REDLANDS), SERIES 2006
WHEREAS, Montessori in .Redlands, Inc. (the "Corporation"), an organization
described in Section 501(c)(3) of the Internal Revenue Code of 1986, has requested that the
California Statewide Communities Development Authority (the "Authority") issue revenue
bonds in a maximum aggregate principal amount of $6,000,000 (the "Bonds") to finance the
costs of acquisition, improvement, renovation, furnishing and equipping of Montessori in
Redlands, a school educating students from 18 months through grade eight (the "Project"), which
is owned and operated by the Corporation and located in the City of Redlands, California (the
"City"); and
WHEREAS, pursuant to Section 147(0 of the Internal Revenue Code of 1986 (the
"Code"), prior to their issuance, the Bonds are required to be approved by the "applicable elected
representative" of the governmental unit on whose behalf such bonds are expected to be issued
and by a governmental unit having jurisdiction over the entire area in which any facility financed
by the Bonds is to be located, after a public hearing held following reasonable public notice; and
WHEREAS, the facilities to be financed are located within the territorial limits of
the City; and
"WHEREAS, the members of the City Council are the applicable elected
representatives of the City; and
WHEREAS, there has been published, at least 14 days prior to the date hereof, in
a newspaper of general circulation within. the City, a notice that a public hearing regarding the
Bonds would be held on the date hereof; and
WHEREAS, such public hearing was conducted on this date by the City Council,
at which time an opportunity was provided to interested parties to present arguments both for and
against the issuance of the Bonds; and
WHEREAS, it is intended that this Resolution shall constitute the approval of the
issuance of the Bonds required by Section 147(f) of the Code and Section 9 of the Amended and
Restated Joint Exercise of Powers Agreement, dated as of June 1, 1988 (the "Agreement"),
among certain local agencies, including the City, as applicable;
NOW THEREFORE, BE IT RESOLVED AND ORDERED by the City Council
of the City of Redlands as follows:
I. The above recitals are true and correct.
2. The City Council hereby approves the issuance of the Bonds by the
Authority. It is the purpose and intent of the City Council that this resolution constitute approval
of the Bonds for the purposes of Section 147{f} of the Code and Section 9 of the Agreement.
3. The officers of the City are hereby authorized and directed, jointly and
severally, to do any and all things and to execute and deliver any and all documents which they
deem necessary or advisable in order to carry out, give effect to and comply with the terms and
intent of this Resolution and the financing,transaction approved hereby.
4. The Clerk of the City Council is hereby directed to forward a certified
copy of this Resolution and a copy of the affidavit of publication of the notice of public hearing
to:
Megan V. Hamilton, Esq.
Orrick, Herrington & Sutcliffe LLP
777 South Figueroa Street, Suite 3200
Los Angeles, California 90017
5. This Resolution shall take effect immediately upon its adoption.
ADOPTED, SIGNED AND APPROVED this 3rd day of October, 2006.
CITY OF REDLANDS, CALIFORNIA
ATTEST: Mayor Pro Tem Patricia Gilbreath
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1, Lorne Poyzer, City Clerk of the City of Redlands, hereby certify that the foregoing resolution
was duly adopted by the City Council at a regular meeting thereof held on the 3rd day of
October, 22006,by the following vote:
AYES: Councilmembers Gilbreath, Gil, Gallagher, Aguilar
NOES: None
ABSENT: None
ABSTAIN: Mayor Harrison
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Lo e Poyzer, (i y/C)erk-
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