HomeMy WebLinkAboutResolution No. 02-C145RESOLUTION NO. 02-C145
RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF AZUSA DECLARING ITS INTENTION TO
REIMBURSE CERTAIN EXPENDITURES FROM
THE PROCEEDS OF A PROPOSED TAX-EXEMPT
FINANCING, AS REQUIRED BY UNITED STATES
DEPARTMENT OF TREASURY REGULATIONS
SECTION 1.150-2
WHEREAS, the City of Azusa (the "City") is contemplating the issuance by the City, or
an entity on behalf of the City, of tax-exempt obligations (the "Bonds") to fund various capital
improvements to its electric utility (together, the "Project"); and
WHEREAS, Project expenditures will occur prior to the date of issuance of the Bonds
(the "Reimbursable Expenditures"); and
WHEREAS, section 1.150-2 of the Treasury Regulations (the "Treasury Regulations")
promulgated under the Internal Revenue Code of 1986, as amended, requires that in order that an
allocation of proceeds of the Bonds to an expenditure paid prior to the issuance of the Bonds be
respected by the Internal Revenue Service, the City generally must no later than 60 days
following such payment have declared its reasonable official intent to reimburse for such
payment out of proceeds of the Bonds; and
WHEREAS, the City desires to facilitate the allocation of proceeds of the Bonds to the
reimbursement for payment of all or a portion of the Reimbursable Expenditures for the Project;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Azusa as
follows:
SECTION 1. Compliance with Treasury Regulations
This Resolution is adopted solely for purposes of establishing compliance with the
requirements of section 1.150-2 of the Treasury Regulations. This Resolution does not obligate
the City to make any expenditure, issue the Bonds or proceed with the Project.
SECTION 2. Intent to Reimburse City from Bond Proceeds
The City hereby declares its reasonable official intention to issue Bonds or incur other
obligations in an amount that is currently expected to be approximately $7,000,000, and to apply
a portion of the proceeds thereof to the reimbursement of the City for the prior payment of
Reimbursable Expenditures. The City recognizes that under section 1.150-2 of the Treasury
Regulations, the allocation of proceeds of the Bonds to Reimbursable Expenditures (other than
certain de minimis or preliminary expenditures described in section 1.150-2(f) of the Treasury
Regulations) will be recognized only if (i) the Reimbursable Expenditures were paid not earlier
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than 60 days prior to the adoption of this Resolution and (ii) the allocation of proceeds of the
Bonds to such reimbursement is made not later than the later of (a) 18 months after the date of
payment of the Reimbursable Expenditures or (b) 18 months after the date upon which the
Project is placed in service or abandoned, but in no event more than three years after the date of
the original expenditure of such moneys.
SECTION 3. Effective Date
This Resolution shall take effect from and after the date of its passage and adoption.
Adopted by the Council of the City of Azusa on this
ATTEST-/
City Clerk
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss
CITY OF AZUSA )
December, 2002.
Mayor
I, Vera Mendoza, City Clerk of the City of Azusa, do hereby certify that
Resolution No. 02-C145 was adopted by the Council of the City of Azusa, California at a regular
meeting held on the 23rd day of December, 2002, and that same was adopted by the following
vote:
Ayes:
Noes:
Absent
Councilmembers: Hardison, Stanford, Rocha, Chagnon, Madrid
Councilmembers: None
Councilmembers: None
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RESOLUTION NO. 02-C144
RESOLUTION OF THE CITY COUNCIL/ UTILITY
BOARD OF THE CITY OF AZUSA AUTHORIZING
EXECUTION OF APPLICATION FOR MEMBERSHIP
IN FINANCING AUTHORITY FOR RESOURCE
EFFICIENCY OF CALIFORNIA AND
COMMITMENT TO ABIDE BY THE PROVISIONS
OF THE JOINT POWERS AGREEMENT.
WHEREAS, certain public agencies have formed a joint powers authority pursuant to
Article 1 of Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California
known as the Financing Authority for Resource Efficiency of California ("FARECal"); and
WHEREAS, it is in the best interest of the City of Azusa and Azusa Light & Water to
become a member of FARECal which is empowered, among other powers, to plan, develop,
finance, purchase, lease, construct, operate and maintain various facilities and resource
efficiency programs, which conserve electricity, natural gas or water; and utilize electricity,
natural gas and water facilities more efficiently, including facilities that transport, distribute
electricity, gas and water, and treat water, waste water or recycled water for reuse.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Azusa as
follows:
SECTION 1. Authorization of Mayor to execute request for FARECal membership and
to abide by FARECal's joint powers agreement.
The City Council/Utility Board of the City of Azusa hereby approves and authorizes the
Mayor to execute, and the City Clerk to attest, the form attached hereto as Exhibit A, "Request
for Membership and Agreement to Abide by Joint Powers Agreement' regarding FARECal.
requesting membership in FARECal, and committing the City of Azusa to abide by the joint
powers agreement of FARECal.
SECTION 2. Mayor, City Manager, and Director of Utilities authorizations.
The Mayor, City Manager, and Director of Utilities are hereby authorized and directed by
the City of Azusa to take all actions and do all other things necessary or desirable hereunder with
respect to joining FARECal, including but not limited to the execution and delivery of any and
all applications, requests, agreements, certificates, instruments and other documents, which they,
or any of them, may deem necessary or desirable and not inconsistent with the purposes of this
resolution.
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0 0
SECTION 3. Effective Date
This Resolution shall take effect from and after the date of its passage and adoption.
Adopted by the Council of the City of Azusa on this
ATTEST:
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
CITY OF AZUSA )
ss
of December, 2002.
Mayor
I, Vera Mendoza, City Clerk of the City of Azusa, do hereby certify that
Resolution No. 02-C144 was adopted by the Council of the City of Azusa, California at a regular
meeting held on the 23rd day of December, 2002, and that same was adopted by the following
vote:
Ayes: Councilmembers
Noes: Councilmembers
Absent: Councilmembers
Hardison, Stanford, Rocha, Chagnon, Madrid
None
None
45252031.1 2
11
EXHIBIT A
REQUEST FOR
AND
0
AGREEMENT TO ABIDE BY
JOINT POWERS AGREEMENT CREATING
FINANCING AUTHORITY FOR RESOURCE EFFICIENCY OF CALIFORNIA
The City of Azusa (the "Applicant") hereby requests that it be granted membership in the
Financing Authority for Resource Efficiency of California (the "Authority") and agrees, subject
to being granted such membership, to abide by the provisions of the Joint Powers Agreement
creating Financing Authority for Resource Efficiency of California, dated July 1, 1993, attached
hereto as Exhibit A, as the same may be supplemented or amended (the "Agreement').
Attached hereto as Exhibit B is a certified copy of the action of the governing body of the
Applicant authorizing the individual identified below to execute this application for membership
in the Authority and to commit the Applicant to abide by the provisions of the Agreement,
contingent upon being granted membership in the Authority.
APP AN
Cristina Cruz -Madrid, Mayor
ATTEST:
C�
Vera Mendoza, City Clerk
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0 0
WARRANT REGISTER #9 FISCAL YEAR 2002-03
WARRANTS 11/22/02 THRU 12/05/02
RESOLUTION NO. 02—C143
COUNCIL MEETING OF 12/16/02
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF AZUSA
ALLOYING CERTAIN CLAIMS AND DEMANDS AND SPECIFYING
THE FUNDS OUT OF WHICH THE SAME ARE TO BE PAID
THE CITY COUNCIL OF THE CITY OF AZUSA does resolve as follows:
SECTION 1. That the following claims and demands have been audited as required by law and
that the same are hereby allowed in the amounts and ordered paid out of the respective Funds as
hereinafter set forth:
00
Pooled Cash
S (154,014.82)
10
General Fund
311,680.55
12
Gas Tax
89,285.16
15
Transportation/Proposition A Fund
1,376.76
17
Transportation/Proposition C Fund
18,139.69
18
Community Development Block Grant Fund
21,770.95
19
Dwelling Tax Fund (Quimby Act)
0.00
21
Senior Nutrition Fund
3,304.95
22
Capital Projects Fund
67,077.27
24
Public Benefit Program
7,962.20
25
Headstart Fund
61.45
26
Supplemental Law Enforcement Fund
81932
27
Air Quality Improvement Fund
7,330.05
28
State Grants & Seizures
11,007.93
29
Fire Safety Fund
189,128.98
31
Consumer Services Fund
64,257.94
32
Water Fund
102,819.49
33
Light Fund
289,029.84
34
Sewer Fund
15,386.00
42
Self Insurance Fund
94,941.16
43
Central Services Fund
5,138.25
46
Equipment Replacement Fund
0.00
50
Special Deposits Fund
28,556.30
Total
S 1,175,059.42
0 0
SECTION 2. That the City Clerk shall certify to the adoption of this resolution and shall deliver
a certified copy thereof to the City Treasurer and shall retain a certified copy thereof in his own records.
ADOPTED AND APPROVED this 16th day of December 2002.
I hereby certify that the foregoing resolution was duly adopted by the City Council of the City of
Azusa at a regular meeting thereof held on the 16th day of December 12002
by the following vote of the Council:
AYES: COUNCILMEMBERS: HARDISON, STANFORD, CHAGNON, ROCHA, MADRID
NOES: COUNCILMEMBERS: NONE
ABSENT: COUNCILMEMBERS: NONE
CITY CLERK
WARRANTS# NONE
WARRANTS# NONE
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