HomeMy WebLinkAboutRES NO 071-08
RESOLUTION NO. 0 7 1 0 8
RESOLUTION APPROVING THE ISSUANCE OF
REVENUE BONDS BY THE CALIFORNIA STATEWIDE
COMMUNITIES DEVELOPMENT AUTHORITY FOR THE
BENEFIT OF THE DEVELOPMENTAL SERVICES
SUPPORT FOUNDATION FOR KERN, INYO AND MONO
COUNTIES
WHEREAS, the Developmental Services Support Foundation for Kern, Inyo and
Mono Counties (the "Corporation"), has requested that the California Statewide
Communities Development Authority (the "Authority") participate in the issuance of one
or more series of revenue bonds in an aggregate principal amount not to exceed
$14,000,000 (the "Bonds") for the purpose of, among other things, financing the
acquisition of certain real property and the construction, equipping and/or renovation of
certain improvements for use primarily as office facilities, the principal tenant of which
will be the Kern Regional Center, Inc. ("KRC"), consisting of one or more buildings to be
owned and operated by the Corporation (collectively, the "Project") and located on land
acquired within the City of Bakersfield (the "City"). The Project is located on North
Sillect Avenue (APN 001-400-09) adjacent to KRC's existing facility, which is located at
3200 North Sillect Avenue, Bakersfield, California 93308; and
WHEREAS, pursuant to Section 147(f) of the Internal Revenue Code of 1986
(the "Code"), the issuance of the Bonds by the Authority must be approved by the City
because the Project is located within the territorial limits of the City; and
WHEREAS, the City Council of the City of Bakersfield (the "Council") is the
elected legislative body of the City and is an applicable elected representative required
to approve the issuance of the Bonds under Section 147(f) of the Code; and
WHEREAS, the Authority has requested that the Council approve the issuance
of the Bonds by the Authority to satisfy the public approval requirement of Section 147(f)
of the Code and the requirements of Section 9 of the Amended and Restated Joint
Exercise of Powers Agreement, dated as of June 1, 1988 (the "Agreement"), among
certain local agencies, including, the City; and
WHEREAS, pursuant to Section 147(f) of the Code, the Council has, following
notice duly given, held a public hearing regarding the issuance of the Bonds, and now
desires to approve the issuance of the Bonds by the Authority.
NOW, THEREFORE, IT IS HEREBY RESOLVED, DETERMINED AND
ORDERED BY THE CITY COUNCil OF THE CITY OF BAKERSFIELD, AS
FOllOWS:
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Section 1. The Council hereby approves the issuance of the Bonds by the
Authority for the purposes of financing, among other things, the Project. It is the
purpose and intent of the Council that this resolution constitute approval of the issuance
of the Bonds by the Authority for the purposes of (a) Section 147(f) of the Code by the
applicable elected representative of the governmental unit having jurisdiction over the
area in which the Project is located, in accordance with such Section 147(f), and (b)
Section 9 of the Agreement.
Section 2. The Mayor of the City and/or his designees are hereby authorized
and directed, jointly and severally, to do any and all things and to execute and deliver
any and all documents that they deem necessary or advisable in order to carry out, give
effect to, and comply with the terms and intent of this resolution and the financing
transaction approved hereby.
Section 3. This resolution shall take effect immediately upon its adoption and
execution in the manner as required by the City Charter.
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ES:
ABSTAIN:
ABSENT:
I HEREBY CERTIFY that the foregoing Resolution was passed and adopted by
the Council of the City of Bakersfield at a regular meeting thereof held on
HAY 0 7 2008 by the following vote:
COUNCILMEMBER CAR~[JJlI ~ C~, HA~N, SUL~, SCR~R, ~
COUNCILMEMBER ~
COUNCILMEMBER ~
COUNCILMEMBER ~(.v) \r1l'lNY\
APPROVED as to form:
VIRGINIA GENNARO
City Attorney
BY:~?/ ~A~
2
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