HomeMy WebLinkAboutRes - 1991.53A - Construction of Admin Building RESOLUTION NO. 1991 . 530.
OF THE BOARD OF DIRECTORS OF EAST VALLEY
WATER DISTRICT, SAN BERNARDINO COUNTY,
CALIFORNIA, ADOPTING A RESOLUTION
CONSTITUTING OFFICIAL ACTION TO CONSTRUCT AN
ADMINISTRATION FACILITY WITH THE INTENT OF
FINANCING THE IMPROVEMENTS THROUGH THE SALE
OF THE BONDS OR CERTIFICATES OF PARTICIPATION
AND EMPLOYING SPECIAL COUNSEL AND THE
FINANCIAL CONSULTANT FOR SAID FINANCING
WHEREAS, the Board of Directors of East Valley Water
District (the "District" ) is desirous of proceeding with the
construction of an administration building and related
facilities (the "Project") , and intends to finance the Project
by entering into a lease or installment agreement purchase with
the East Valley Public Facilities Corporation (the
"Corporation") and the issuance of that Corporation' s Bonds or
by the issuance of Certificates of Participation;
WHEREAS; the firm of. Stradling, Yocca, Carlson & Rauth has
presented to this Board of Directors a Special Counsel
Agreement; and
WHEREAS, this Board of Directors has heretofor entered into
a master financing agreement with Fieldman, Rolapp & Associates;
NOW THEREFORE, the Board of Directors of East Valley Water
District does hereby RESOLVE, DETERMINED AND ORDER, as follows:
Section 1. That the Board of Directors declares its
intent to secure financing in an approximate amount of
$9, 0h
the
cover allcostsaofanner set constructingtandnfinancingtals hereof, to
the Project.
Section 2 . That, from the date of this Resolution
through Project completion, the Board of Directors declares its
intent to recover all costs related to design, project
administration, financing issuance, legal fees, construction,
inspection and other unknown costs related to implementation of
the Project from the proceeds of a Bond sale or the issuance of
Certificates of Participation, including the reimbursement of
District funds expended prior to the receipt of Bond or
Certificate proceeds .
Section 3 . That the provisions, terms and conditions of
the financing, and the form, details, rate or rates of interest,
maturity and redemption provisions, if any, shall be prescribed
by subsequent action of the Board of Directors .
y lam.
Section 4 . That the Board of Directors declares its
intent that this Resolution shall constitute an official acn
on the part of the District within the meaning of the applicable
regulations of the United States Treasury Department relating to
the financing of the Project .
Section 5 . That the Special Counsel Agreement with
Stradling, Yocca, Carlson & Rauth be approved and that Fieldman,
Rolapp & Associates be employed to act
the
financial
almcos nsultant
on the aforementioned financing pursuant
master agreement with the District .
ADOPTED, SIGNED AND APPROVED this 22nd day of April '1991
1991 .
AYES: Disch, Lightfoot,Schnarr , Stoo s
NOES: None
ABSENT: Douglas
President of t Board of Directors
of East Valley Water District
(SEAL)
ATTEST:
Secretary of the oard of Directors of
of East Valley Water District
4/9/91 -2-
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