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HomeMy WebLinkAboutResolution 9455 N.C.S. 05/24/1982. d~` ~ ~ . . ~ . . : -~ ;~~u+t_" . . , , - ~ : . . ~eSO1L~~~~1~1~ .~0. ~` 9455`~ ~: ~•~ _S, .' ~ ~ ' ~ . ~~ of ~~the City of ~PetalLima,"California - . ~, . - ~ _ .. ~ A ~RESOL'l1TI.ON CONCERNING :TH'E:, I'SSUANCE `~F • ECONOMIC • DE~VEL~PMENT. ~RE}VENUE BONDS~ FOR = ' ~ V,IK'I.NG 'FREIGHT SYSTEM., ING: . . °,. . ::.-n . . . : _ , ~Y '". ,'•~ ; - WHEREAS , the ~Ci ty ~ of Fetal uma . i's ,a, .muni~c;i;pa;l corpprati on and , charter ci ty ~du,ly .organi zed and exi.,sti ng, under a. f,reehol ders' charter pursuant. to 'whi ch the Ci.ty has th.e ~ri gh:t~ and ~powe~r to make and enforce a1T laws and regu`l.ations: ~in respect to :muni~ci'pa:1 'a~ffairs.and certain - other matters in a"cco~rdvance• with and as, more °par~t'i•cula~rly provided in - Sec-tions 3, '5 and 7~ o.f...Arti:c,le XI ~of .the; Con-s•ti~tu;ti'on of the State of Gal~i~f'o~~rni~a ~and Sect~i=on~ ~8'1 ~of ~ the C~harte:r of° ~the. C'i~ty; and WHEREAS, the Gity Council of the~ Ci`ty~~ found that the publ ic . ' interest and necessity _requi're the establi-shment of a.program for the authorization, sale~and i.s-suance of-economi°c developmen€ revenue -bonds . ~ by the Ci ty' and, a~c~t.i ng~ under Se.cti ons 3'; 5-and 7~ of Arti cl e X I of the ' Consti"tuti:on of the, Sta.te of •Cal ifornia and: Section $:1 of the .Charter, adop:ted the City''of~Petaluma Eco.nomic Development Revenue Bond Law ~ , (Ordinance No. . 15'20 . N..;C.'S. ); aad ~ ~ ,. WHERfAS~; . in .connect`i,on ~.with i'ts pr.o,p'osed construction of a truck ~ , termi nal a"t 123~0 North MeDow.el l B'oul,evard a:n P'eta~l uma ( the "Faci 1 i t,y" ), .. ~- Vaking Freight System, I;nc.', ha,s reqested the .,fin'a~neial assistance of • the Ci ty and h'as: pres.ented to the. Gi ty~" a general descri pti on of i ts " Facilit'y (attached :as Exhibit; A hereto); and, ~_ ` WHEREAS,. the C,ity desi'res to assist Viki,ng, Fr.ei`ght System, Inc., in '~ the financing of :the facili,ty; and, `~ ~ WHERERS, 11i king Fre`igh~t Sys'tem, I-nc~. ,_ requi res sati sfactory assurance. from the. City that the proceeds of~ th'e sale .of 6onds of the Ci ty w~'1:1.~ be m,ade ava,~i 1 abl e to i t to as:si s`t., i n fi nanci ng of i ts ` Faci1 i ty~,, and tlie C,i ty requi res s~ati sfactory ass:urance from" Vi ki ng. Frei ght ~System.; Inc.. , tha•t ce;r. tai:n `costs ,of i ss,ui ng sueh bonds wi`l l be . pai d by V;i ki ng F`re~i gh.t System, Inc; .. . ~ ' ~ ~ ; : - ' . ± . F. . _ . . . ., ..,: :; .. ~ . A; . ~ T ~ k Res~o. Y. 94'55 : N.wC S. , .. Page' -1 of~ 3; ',' . ~ . .. : . : , . . - .~. . . ~: . . -~ _ , . . ~ - . , ,. - -- . ... , , , : . . _ .. ~ ~ ~ . . _ r ro 7 _ . . . . . . 4.. . -. ~ . _ .. _ ~,~ ': _ ` ~ 3 ` T ~ • ` '.,i , ~ ' ~a trJ ~ . ` , ` ~ ? Y ' ... , s;' , x . Y i .; • ~` ? ~ . _', , . ' - ~:J . . . . ., F ~ . . -.. ~~„ . _ ~ .. - . ~ ` ~t. :2 r . . ~,~ ~.~ • r = . ~ . . . , . .., .. ' .~~~ .. _ _ . .,.~ ~ ~..~:, .... ' . . _- . ~.. .~,. . ~ .. . , '....._. ^ . ~... . . . NOW;- THEREFORE-:BE I.T~ RESOLVED, by th:e Counci l~_of the Ci ty, as =. .. -. , . .:: . . ~ , :~ fo1.T:ows. ~, ~•~ ~= - . . ~ - _ ~ . - - , .- _ _ F. . ~. ..... ~. . _ , . ~ . _ ' .. - ' . _ , a . . . . ~ . . t, • . . .. , . . . . .. . .. .. . . . - , . y ~ ~•~1 ~'.The Ci,ty Counc,i::l of the Gi,ty of~~Ret'aluma:finds:;and :determines~~: .`. ~ -_ _ .. . ~'b . ~ L~; . - " . ..` -_[ . ~ " : ,: .~ -, ,. . ~ .- '. ~ _ .. z : - ",,. ,'-"that.~the =financing Q.f Vi,k'ing'.Freig,ht Sy-ste,m;. Inc ., ~.will~bewi,:n~ ' . ,.~. ,_ , ~ '.. .,~ ~:: ~~. furtYieran_ce of':the• publ i c~ purpose-s~•rset .forth. i'n Ord~xnance No;~ ~~` ~ . ~, . . ~. ,.._~ F, i - - ' - ~ - . . .... , . . _. .. . .. .. ~ . ~ ~ -;; ~` :,~. 15~2~Q.LN..,G:S, ,~~and. wi,'~1~1 promote~: the"_Viealth, s;afety and ,we:lfare of =.: • - ~ ~`. the ~resi dents *of .the City;, and, i t. i;s nece,ss'ary arid' .es~sen':ti al and;, a~• . .: ~~~ ..~ r~pro.p,er pu`bl i c purpose that the ~ F,ac~i..l i ty.• be f i~nance_~d at t;he eairl i,,e"st a~ ~ . _ ~ ~ . .~ .~ . _ , ~ - . . . . ~ prac;t~ cab.J e date ~` ;, •, ~ ~~ ~:~~ ~ ~~~ ~ ..,.. . , . .. ~ . .. , . 1~ ~ _ ~ .. . . ... „ . • ;t 7.. t ' ., . , . . ~ _ ~ - -._ . . . - _, _ . .~ ..' ~ . . • . . . ` .. , . . _ 1 : . E ~ ~, . •. 1^ ' ~. J -. '. . • ~.~. . ' - 'i ~ - ~ . . . ~ ' : -. . . ~. . . .. ~ .. . . : I.'' J ; • . . ,. : . ~ . ~, .; ' ^' ~' - -~: . . . ~ . . ~ . ~ ' ~ - -~ e : ' '-t ~°` , r . , 1 '' :r2 ~.The C:i~ty Gounci l; of the Ci ty of`.. Peta:l uma• `fur:ther fi;nds the ~ . . . .; . : . ., . . _ . . . . __ . , ° '-' ~ `~ ..'Facil~ity r:s co:nsistent with ~:tlie General~• P1an'_of 'the City ' ~~ ~' ~ ~ ~ ~ ~' ~ ~ ,~j- ~. . ~r . - - ~ . - 'f .. . . . ' ,.'.-' ' ~ ' , , ~ -; ~ . . _ . ~ , ~ . . . , . ... . . .. ,.- ,~ . . . _ , • ~ • ~ ' - ~ i ~ - . . ~ ~ ~ ~ . ' `i~ , - . . ~ ~ ~ - ' - y. 3~'~The C~i~ty of Peta-luma;pre.sently'intends to issuer, and; sha`l~l .~ t :, ~ . , _ t ~ . .. • .. . :: . . . - , ~ ., ~ ' . , ~ .: ~ -~',proc.eed t~o p~rep:are.;-o`r cause t'o: be ~ prepared the doc~umen~tation ~:' - - ~ ~"Knecessary':for~;the Ci'ty to,is~sue, at~one'~t~me or from time to`~'time;~~ ~ ~ ~ : - . : . .: ,.; ; ~t • venue, bonds 'of the Ci .- ' ~:_ :•economic :devel~opment re ty in an agg;regate _ .. _ ,,_ , . ~ , . ~ ~ ' . .: , `., ~ a.~ , : ~ . . . . .,. .. ~, • . ~c ~ - ~ " = pri nci pa1, °ainount n`ot. to ~exceed:. $2 ,`000 ,000 ( the "Bonds" ) ' for V'i ki ri:g. } ` .. - F , -. _~~ ~Freig~ht System`, Inc:;,_to 'finance the facil~ty', provided'that;.pri,o;r . ~Y~ - ~ ~' ' r- ' , ~, . :• ~ ;: ~rto c.ommenci ng ~such p';reparati on; the.?Ci ty,:_and :Vi ki ng Frei;ght ;System; ~ t , p . ~.. . ~ . . . "~ Inc ;' shall~ haV.e entered ~~into ~a letter of agreemenrt in - - , . _,. ~ . ~ - ~,~z , . ., . • _:. - . ' •' : t+ < ' _ ~ . ,' , ~ *,~ r - substanti al ly -the form attached hereto, ~'wi th.:sucfi ~,addi ti'ons..o,r ~~~~ : ~.~_ . , U . • ,: ~ - . . . , _ ~~~ :~-~ ' -~ delet~ons ~•as are consi,de'red ne'cessary or:apprq.pr~ate,by'{,offi'eers ~of~` ;`; ~t ; •t , ~ ~, ~~ ~ ~ ~ f ,. ti , , ~ ~ , .the C~ity a~nd V~i~king_ Fre~ght System,;• Inc : T,he,•City Cler„k>~of thRe r rz , ~~' ~. i . _. •r . L ,< 1 ., . C ~. . _T .1~r .~,, ~, ~ ~ ,`; ~• ~, . . ~ ' , ~ , ~~ C~ ty of ,P'etal'uma i`s ,hereby ,di rected ~~to.M transmi:t~ sa;i d 1 et;ter ~of ~ r ; ~` ` >.I ~~=agreement-~-in substantially the form, attached hereto to V.iking l T~ ~; . , :, . ~ ,,.. ' .~.! . ~. ~ ' -. .. . , r .: ~ l '''~,~ , . ., • y , . ; . . ~ t ~~ , Frei ht S, stem Inc ~ and the `Ci t Mana er of ;the,,Gi t i, , a '.= `' : ':~ , ,; ~~~ • .~ Y` ;9,~ ~^ y s hereby ; ~ 9 ~ Y . ~ , . . s - . _ _ , " . -;-autfi'orized` to:.execut:e sai,;d letter of ag;r:eemept. and;r~all ;o~ther:-~ ~~~ ~ ~, . . . . ` ~: . . ., :: . • - . . . . , ,:_ •~°' nece<ssary`~ i mpl ementa~ti on~-docu'ments :f.or_and, i n, the ~name -and ,,on~ s ;.r , ' -~ ~ beha:l.f of `the -C~i ty. ~ : _ - ~ , . ~ . , . ,. . . . .. . .,. _. .. . , . .: , •. _ .__ . . _ _ _ , . , r ` ~ . :s , , ~ 4 `The bonds ;s,hal l' ~':be, i s°sued ~ subject to: the ;condi:tci ons ~r,that°:.( i) .~ ; ~- . , ` . :- , . : . . ., . ..3 :; . ~. ~, , . ~ : ~: ';the:'C;ity by_•res:olution shall •~Y,iave first.,~agree,d to a.cceptable:~:terms: .•-,~ ' ~ ~ ~r _ '^ and condi~tzions~~for the bo;nds ,(;and for ,the~ sale and~~'del i,very _µ, ~_=- ~ . ~ ~ . : ; .. . .. _ ~a - ^ -. M ^ . -~ , ' • , r: . . . .4 , _,- . . .. r ~ .t i .+ ,'. . 'r. . ~ y ,,,1 . - .. , ~r ' . . - ~~ . _ _ ~ ti', . ' ' : , ~ . . . . . . c ~ ... • ' > • ' . ' ~ • { , ~ ? . . , . . . . • . . . . . ~ .i ._ , . ~. . . . ~ . , . ' '. .. . . .... .~' L"~~ . ~ ; . Y 1 ' . ' ' ~ ~ • '.Y _ . ~ .t . 1,..' ~ _ w .r ~ " '~, t . '~. . ' .i .~ . .. , . ~ , . _ _ r . ' >: '~ ' - Res'o ~-~ 945'5 N ~C S - Page~ 2~. of.3 = . ~ . _,3 : . , . . , . _ , • ~ - ~ ... . _ . _. . ._ . t . ' _ ~ . _ . '. ... . . - . . . .. _ ~ . . . . . .. . _ . . "" i~ . . . . .. . , . . - 4 ' ' . ~ ~ ~,.. : . - f` - - . ~. ~ thereof ), and for the }ease, l oa,p~ .or o-th;er agreement to . be entered , -..~~ ~- i nto by the City- and. Vi ki ng Frei ght. S.ystem, Inc. , wi th respect to - - the faci 1 i ty~ a.nd ( i'-i') al l requi s.i:te governmen'tal approval s shal 1 ,f ^. . ~ ~ ~ - - have fi rst. been 'ob'tai°ned. . , 5. The bonds shal"1~ ~be~ p.ayable ~solely from tlie revenues to be ~ received by the Ci't.y, pursuant to lo.ans or other agreemen~t(s) to be ~ entered i nto by ~~the Ci ty :a-nd Vi ki ng F~re;i ght :System, I~nc: , i'n ~~ ~~ ~ connection with .the finan:cing of the F'acil~ity, and shall not be . ~ deemed to con,stitute a debt.or liab~ility=•of t,he Gity any constitutional.., charter or statutory.d"eb:t 1im.ita:tion: ~.~Neither the : faith_and credit ~no~r the; taxing power of t,he.,.Ci'`ty sFiall be pl'edged to~ the paymen~t.;of ~~the pr.~i~n~c`i pa'1. o.f ~ or °premi um;. ~i f any; or i;nterest ,ii A Y on the bonds. ~. ' ~ ~ . ~ . .. ' .. , ~. . ~ 6. ~ Viking: F'r-eight 'System, ~Tnc.'s selection o"f Sutro & Co. _ I,ncorporate.d ~ as :underwri ter~.to offer. anel sel l. the bonds i s hereby approved., The 1 aw~.fi rm o.f ;Or:ri ck., Herr`i ngton~~ &. Sutcl i ffe, A Profess~ional~Gorporation,. is hereby d~s;ignated'_as bond counsel to the C~i ty wi th respect" to_ the bonds, and tVie Ci ty Mana:ger i s hereby authorized to ente`r into an agreement with s'aid'firm for such bond counsel~se"r,vices. ~ 7. I't i s the• pu'rpose and i ntent of' 'the C i,ty t'hat thi s resol uti on ~ constitute offic'ial; acti~on toward the issuance of obligations by ' the City for the Viking Freight'System;; Inc. Facility in accordance :~.: , wi'th. Secti,on 1.,103-8 (a;) (5)~ (i:ii) of the ;Regula;t'i`ons promulgated .~. ~~~by the Urri;ted States Department of the, T.rea;su_ry under Section 103 ~ .~ of the Internal Revenue Co:de of ~1954,. a's amended. Under: tfie power' : ,. _.; ,_ .- - ~ ~... I hereby certify the ~foregoing Resolution was; ;intro3uced',' and adopted by the '/ .: ~ ' Council_ of 'the: `Cit of...Petaluma at a ~ proved- a,: . , . . . y ~d~fe~~ (Adjourned) (~hXi3~l~( meering - on ,tfie -••--- ~ ~4- . ---..... day ~ot ....MdY .:.............. ......... ~-~----..., 19.$Z•-, by the _ - following vote; - . ,~ '__ _ . . ~ ~,- -•• - ~ . - ~5' ty Attorney..~ . AYES:Perry;; Harberson~, ~Bon:d, ~Batta,glia; V.i''ce Mayo.r Cavanagh~, May,o'r Mattei ~ ~. ,~ ~ NOES': None . • t~~ . ~ . . ; . . - No~e r;~°`'~ ABSTA ~~. ABa.lsh~aw ~ ~ ABSENT: ; . . ~" ~r r~,.r . ' ~`~ - , ; ,~ ~ ' ATTEST:~:;~,~ G~~~d~~~... ... ... -~---~ - - -----------------~-~- •-- -,.:~, ....... : '~... .._: ~..-~-•----~ . . " City CIerL- ~ , ~ (~p a , r, _ < ' . . , . . . " ~ COUYCII.FILE~ e7`'-k~~~ a.. r~, ~.~ ~ . ~ - ~ pag~e~~ ~3 o;f~ ~ 3 . . . - . .- :. : - . . . ~ . . , - - -_ . FORM:.CA _2. t/80, . ' ' . . ,Res No: _ . . . . _ 1: ~ o ~ . Y~, . . • . EXHIBIT A FACILITIES Project Facilities consist of the foll.owing: Location to be at T230 North McDowell Boul.evard~, Peta.luma,_CA. 94952. A truck terminal to be located in the City of Petaluma, including aPproximaEely 173,.426 squiar.e feet of paving, 9,330 square feet of dock spaee, 3,300 square feet of office spaae, 6,266 square feet of shop space and underground fuel storage. The total estimated di.rect and indirect Project cost.s for land, materials, labor and overheads, to.gether with indi.rect cost of Partic;ipating Party including design, en'gineeri.ng, construction supervision, envisonmental and licensing expenses, and othe,r allocable overheads and present estimates for 'escalation and contingenci:es for the acquisition, installation a,nd const.ruct.ion of the truck terminal facilities described in the Applicat.ion is $2 million. ~. E~(i~I~I'C A for RES. N0. 9455 N.C.S.