HomeMy WebLinkAboutResolutions 85-187 N.C.S. 06/17/1985l~esolution No. 85-18'7~. ~. S.
of fhe Ciiy of Petaluma, California
ARYROVING FINANCING FOR CITY PO,LICE FACILITIES ~
AUTHORTZING THE CITY MANAGER ~TO SIGN, ON BEHALF OF THE CITY,
SPECIFIED DOCUMENTS. PERTAINING THERETO, AND AUTHORIZING
FUNDING THE RESERVE FUND BY THE CITY
~ WHEREAS, the Council has considered the Petaluma Police Facilities
Project financing, through the issuance and sale of Certificates of
Participation, as set for.th in the following documents (forms of which are
before this meeting ) :
1. AGENCY AGREEMENT between GPFELC and the City;
2. ASSIGNMENT AGREEMENT between CPFELC and Seattle-First
National Bank ("Trustee" ) ;
3. TRUST AGREEMENT between the City and Trustee;
WHERE.4S, this Council has previously approved contracts between the
City and its financial consultant and between the City and its special legal
counsel in connection with this finaneing; and
WHEREAS, this Council has previously ,approved, by Ordinance, the
purchase of the subject real property and the,:`Lease Agreement, and, by
Resolution, the Site Lease, and has previously approved, by Resolution,
the Purchase Agreement, and : . ~ •
WHEREAS, this Council desires to approve and authorize the entire
certificate financing and to authorize the City Manager to do all things
necessary, inc.luding the execution of agreements .and certificates on behalf
of the City, to effect the Gertificate financing;
NOW, THEREFORE, IT IS HEREBY RESOLVED by the Council of the
City of 'Petaluma, as follows :
l. The plan of financing as set forth in the documents referred to in
the preamble to this Resolution is approved.
Reso. 85-187 NCS Page l of 2
2. The proposed forms of the documents referred to meeting in the
preamble to this Resolution are approved.
3. The City Manager, and such other City officers as he may
designate, are hereby authorized and directed, for and in the name of and
on behalf of the City, to execute and deliver the documents referred to in
the preamble to this Resolution, to which. the Gity is a signatory, in
substantially the form in which they have beeri approved by this Council,
with such changes therein as the officer executing and delivering such
document may require or approve, such requirement or approval to be
conclusively evidenced by the execution and delivery hereof .
4. The City Manager, and such other Gity officers or employees as
he shall designate, are hereby authorized and directed to do any and all
things, and to execute and deliver any and all documents which said
officers and employees may deem necessary or advisable in order to
consummate the execution and delivery of the Certificates and the
documents listed in the preamble to this Resolution.
5. The City Treasurer is hereby ~authorized. and directed to transfer
to the Trustee for deposit in the Reserve Fund under the Trust Agreement
the sum of $219,895 (~or such other sum,, simil"ar in~ amount, which shall
ultimately be determiried to be the Rese"rve Requirement as defined in the
Trust Agreement) .
,., ,. ,~Jnd~the po er a~d' authority conferred upon this Council by the Charter of said City.
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~~-~-87 ~~~i$~£~by certify the-.foregoing Resolution was introduced and adopted by the Approved s
Council of the City of Petaluma at a(Regular) (A~Tj'~i~•~~~c~) meeting fO
on the ....•-•.•-.17th_. day of ..............Jun2 - •-•••--•--•--, 19..85 by the
following vote:
...._.....--•-• ---• .... ..................
Ci y orriey
AYES: Ba.lshaw, Ca,vanagh, Da.v~.s, Woolsey, Tencer, Vice Mayor Bond, Mayor Ma.ttei
IVOES: None
ABSENT: No
_ _.r
AZ°PESTs . ~
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City ;Clerk ~ ~
Cnuncil File .....Q.........................-••-
Farti CA 2 7/81 Res. No._.....ST..rS..-~..~?.:~...~~