HomeMy WebLinkAbout90-061 CC ResolutionRESOLUTION NO. 90-61
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF TEMECULA PROVIDING THAT PAYMENTS MADE BY
THE CITY IN CONNECTION WITH THE ACQUISITION
OF A CITY HALL FACILITY ARE TO BE MADE IN
ANTICIPATION OF REIMBURSEMENT FROM THE
PROCEEDS OF A PLANNED LEASE FINANCING WITH
CERTIFICATES OF PARTICIPATION TO BE
ACCOMPLISHED BY THE CITY AND AUTHORIZING AND
DIRECTING CERTAIN ACTIONS WITH RESPECT
THERETO
WHEREAS, the City is proposing to proceed with a lease financing with certificates
of participation; and
WHEREAS, in connection therewith, the City proposes to finance the acquisition of real
property located at 43172 Business Park Drive and 43174 Business Park Drive, both in the City
of Temecula, for use as a City Hall facility, and it is in the best interest of the City, is in the
public interest and is for the public benefit that the City set forth the expectation of
reimbursement from the proceeds of such proposed financing;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF TEMECULA
DOES RESOLVE, DETERMINE AND ORDER AS FOLLOWS:
SECTION 1. Any payments made by the City from its General Fund in connection with
the Project prior to the consummation of the proposed lease financing with certificates of
participation or other tax-exempt financing means are intended to be made strictly in anticipation
of reimbursement therefore from the proceeds of such financing.
Section 2. The Mayor, and/or the City Manager are hereby authorized and directed to
do any and all things and take any and all actions which may be necessary or advisable in
accordance with this Resolution.
Section 3. This Resolution shall take effect immediately.
Section 4. The City Clerk shall certify the adoption of this Resolution.
Resos 90-61
PASSED, APPROVED AND ADOPTED this 12th day of June, 1990.
Ronald J. Parks, Mayor
ATTEST:
Jun~.~.~3'reek, Deputy City Clerk
[SE^L]
I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the City
Council of the City of Temecula at a regular meeting thereof, held on the 12th day of June,
1990 by the following vote of the Council:
AYES: 5
COUNCILMEMBERS:
Birdsall, Lindemans, Moore
Mufioz, Parks
NOES:
0 COUNCILMEMBERS: None
ABSENT: 0
COUNCILMEMBERS: None
Ju~r~k, Deputy City Clerk
Resos 90-61