Resolution 2002-14
RESOLUTION NO. 2002-14
A RESOLUTION OF TIlE COUNCIL OF TIlE CITY OF GILROY
APPROVING THE ISSUANCE OF TAX-EXEMPT OBLIGATIONS BY TIlE
CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY
Local Government
Participant:
Issner:
Borrower:
Eqnipment:
City of Gilroy, California
Califomia Statewide Commnnities Development Authority
Bonfante Gardens, Inc. or an affiliate
Refinancing of the acqnisition of certain equipment, inclnding food and
retail facilities eqnipment and fixtures, parking tram, generators,
H.V.A.C. system and fire, safety and sonnd commnnication equipment
to be nsed in Borrower's horticnltnrally-based theme park
Maximnm
Principal Amonnt:
Pnblic Hearing Date:
$3,015,000
March 4, 2002
WHEREAS, the Borrower has reqnested that the Issner issne its notes, bonds or any other
evidence of indebtedness (the "Obligations") in an aggregate principal amonnt not expected to exceed
the Maximum Principal Amonnt for the pnrpose of providing funds for the refinancing of the
Eqnipment and related costs located or to be located in the jnrisdiction of the Local Government
Participant; and
WHEREAS, the Issner has requested that the governing body of the Local Government
Participant approve the issnance of the Obligations and the Eqnipment in order to satisfy the public
approval reqnirement of Section l47(f) of the Intemal Revenne Code of 1986, as amended (the "Code"),
and the reqnirements of Section 9 of the Amended and Restated Joint Exercise of Powers Agreement (the
"Joint Powers Agreement"), dated as of Jnne I, 1988, among certain local agencies, including the Local
Govemment Participant; and
WHEREAS, the Local Government Participant held a pnblic hearing on the Pnblic Hearing
Date providing a reasonable opportnnlty for persons to comment on the issnance of the Obligations and
the Equipment; and
WHEREAS, it is intended that this resolntion shall constitnte the approval of the issnance of
the Obligations and the Eqnipment reqnired by Section l47(f) of the Code, Section 9 of the Joint Powers
Agreement and Section 91530(f) of the Government Code of the State ofCalifomia;
NOW, THEREFORE, BE IT RESOLVED, by the governing body of the Local Government
Participant, that the issnance of the Obligations and the Eqnipment are hereby approved for the pnrposes
of Section l47(f) of the Code and Section 9 of the Joint Powers Agreement.
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RESOLUTION NO. 2002-14
RESOLVED FURTHER, the Clerk of the Local Government Participant shall certify the
adoption of this resolution, and thenceforth and thereafter the same shall be in full force and effect.
* * * *
PASSED AND ADOPTED this 4th day of March, 2002 by the following vote:
AYES:
COUNCILMEMBERS: DILLON, GARTMAN, PINHEIRO, VELASCO, and
SPRINGER
NOES:
COUNCILMEMBERS: ARELLANO and MORALES
ABSENT: COUNCILMEMBERS: NONE
APPROVED:
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Thomas W. Springer,~or
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Rhonda Pellin, City Clerk
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RESOLUTION NO. 2002-14
CSCDA-EOlDB,P ARTIelP Ai'lTDOCS (8/97)
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the Official Seal of
I, RHONDA PELLIN, City Clerk of the City of Gilroy, do hereby certity that the attached
Resolution No. 2002-14 is an original resolution, duly adopted by the Council of the City of
Gilroy at a regular meeting of said Council held on the 4th day of March, 2002, at which meeting
a quorum was present.
the City of Gilroy this 5th day of March, 2002.
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.iZ..~
City Clerk of the City of Gilroy
(Seal)