HomeMy WebLinkAbout4983_CCv0001.pdf RESOLUTION NO. 4983
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
REDLANDS AUTHORIZING THE ISSUANCE AND SALE OF
1993-94 TAX AND REVENUE ANTICIPATION NOTES IN
THE AGGREGATE PRINCIPAL AMOUNT OF NOT TO
EXCEED $6, 000 , 000, PRESCRIBING THE TERMS OF
SALE OF SAID NOTES, APPROVING FORMS OF OFFI-
CIAL STATEMENT, OFFICIAL NOTICE OF SALE AND
NOTICE OF INTENTION TO SELL NOTES AND APPROV-
ING CERTAIN OTHER MATTERS RELATING THERETO
WHEREAS, funds are needed by the City of Redlands, Cali-
fornia (the "City") for the purposes authorized by Section 53852 of
the Government Code of the State of California (the "Government
Code" ) ; and
WHEREAS, the City may borrow for said purposes, such
indebtedness to be represented by a note or notes issued pursuant
to Article 7 . 6, Chapter 4, Part 1, Division 2 , Title 5 of the
Government Code, being Government Code Sections 53850 through
53858, inclusive, as amended and supplemented (the "Act") ; and
WHEREAS, such indebtedness in an aggregate principal
amount of not to exceed $6, 000, 000 is to be evidenced by the "City
of Redlands, California 1993-94 Tax and Revenue Anticipation Notes"
(the "Notes" ) authorized hereby; and
WHEREAS, this City Council deems that it is necessary and
desirable that it offer for sale on June 9 , 1993 the Notes in the
aggregate principal amount of not to exceed $6 , 000, 000 according to
the terms and in the manner hereinafter set forth; and
WHEREAS, there has been submitted to this City Council a
proposed form of Official Statement describing not to exceed
$6, 000, 000 aggregate principal amount of the Notes proposed to be
sold, a proposed form of Official Notice of Sale, and Notice of
Intention to Sell Notes; and
WHEREAS, the uncollected taxes, income, revenue, cash
receipts and other moneys to be received by the City during the
fiscal year 1993-94 which will be available for the payment of the
Notes and all other notes issued by the City under the Act in such
fiscal year and the interest thereon are reasonably estimated to be
in excess of $7, 500, 000 ; and
WHEREAS, the City wishes to utilize a book-entry system
for issuance of the Notes;
NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED BY
THE CITY COUNCIL OF THE CITY OF REDLANDS AS FOLLOWS:
JRR161450
ADOPTED. SIGNED AND APPROVED this lath day of Ka/. 1993 ,
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'Depaty City Clerk /\�