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HomeMy WebLinkAboutResolution No. 2015-C49RESOLUTION NO. 2015-C49 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF AZUSA, ACTING FOR ITS COMMUNITY FACILITIES DISTRICT NO. 2005-1 (ROSEDALE) IMPROVEMENT AREA NO. 1, AMENDING RESOLUTION NO. 2015-C37, SUBSTITUTING EACH REFERENCE TO WELLS FARGO BANK SHALL BE DEEMED TO AND SHALL REFER TO WILMINGTON TRUST, NATIONAL ASSOCIATION AS THE DULY APPOINTED TRUSTEE WHEREAS, the City Council (the "City Council") of the City of Azusa (the "City") conducted proceedings under and pursuant to the Mello -Roos Community Facilities Act of 1982 (the "Act") to form the City of Azusa Community Facilities District No. 2005-1 (Rosedale) (the "District") and designate improvement areas therein including Improvement Area No. 1 (the "Improvement Area No. 1"), to authorize the levy of a special tax (the "Special Tax") within Improvement Area No. 1 and to authorize bonds secured by the Special Tax; and WHEREAS, the City Council, adopted Resolution No. 2015-07 (the "Original Resolution") at its regular meeting duly noticed and held on July 27, 2015, at which a quorum was present which, among other things, authorized the issuance of the 2015 Refunding Bonds (the "Bonds"), to be designated generally as the "2015 CFD Rosedale Bond Refunding," or such other name or names as may be designated in the Indenture (as defined herein) approved in accordance with the Original Resolution, in one or more series from time to time; WHEREAS, Wells Fargo Bank, National Association ("Wells Fargo") was to be appointed as the trustee pursuant to the Original Resolution; WHEREAS, the Council is requested to approve the substitution and appointment of Wilmington Trust, National Association, as trustee under the Indenture in place of Wells Fargo; NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Azusa, acting for the City's Community Facilities District No. 2005-1 (Rosedale) Improvement Area No. 1, as follows: Section 1. The foregoing recitals are true and correct, and this Council, so finds and determines. Section 2. The Original Resolution is hereby amended such that each reference to Wells Fargo shall be deemed to and shall refer to Wilmington Trust, National Association as the duly appointed trustee (the "Trustee"). Section 3. The Indenture relating to the Bonds (the "Indenture"), between the City of Azusa and the Trustee is hereby approved in substantially the form on file with the City of Azusa prior to this meeting, with such insertions, deletions or changes therein (including, without limitation, insertions, deletions, or changes therein appropriate to reflect the form of credit or liquidity enhancement for any series of Bonds and the designation of the Trustee) as the officer(s) executing and/or delivering the same may require or approve, such approval to be conclusively evidenced by execution and delivery thereof. 1 Section 4. Each officer and/or appropriate staff of the City of Azusa is hereby authorized and directed to do any and all things which he or she may deem necessary or advisable in order to effectuate the purposes of this Resolution, including, but not limited to, executing such documents, instruments and agreements (including the tri -party agreement among the Issuer, the Trustee and Wells Fargo and the Bond Purchase Agreement relating to the Bonds, among the City of Azusa, and Stifel, Nicolaus & Company, as underwriter, and approved by the City of Azusa necessary to evidence the appointment of Wilmington Trust, National Association, as Trustee. Section 5. The State Treasurer (or his designee) is hereby requested and authorized to take any and all actions within his authority as agent for sale of the Bonds that he may deem necessary or advisable in order to consummate the issuance, execution, sale and delivery of the Bonds, and to otherwise effectuate the purposes of this Resolution. Section 6. The provisions of the Original Resolution apply to the documents and actions approved in this Resolution, which is incorporated herein by reference, to the extent not inconsistent herewith. Section 7. The City Council hereby approves and ratifies each and every action taken by its officers, agents, members and employees prior to the date hereof in furtherance of the purposes of this Resolution and, to the extent not inconsistent herewith, the Original Resolution Section 8. The Original Resolution, as originally adopted, is hereby ratified by the City Council, and shall remain in full force and effect, except as amended hereby. Section 9. This Resolution shall take effect immediately from and after its adoption. APPROVED and ADOPTED by the City Council of the City of Azusa, acting for its Community Facilities District No. 2005-1 (Rosedale) Improvement Area No. 1, on September 21, 2015. PASSED, APPROVED and ADOPTED this 2151 day of September, 2015. oseph Pomero Rocha Mayor ATTEST: e Comejo— C 2 STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES ) ss. CITY OF AZUSA ) I HEREBY CERTIFY that the foregoing Resolution No. 2015-C49 was duly adopted by the City Council of the City of Azusa at a regular (or special) meeting thereof, held on the 21" day of September, 2015, by the following vote of Council: AYES: COUNCILMEMBERS: GONZALES, CARRILLO, MACIAS, ALVAREZ, ROCHA NOES: COUNCILMEMBERS: NONE ABSENT: COUNCILMEMBERS: NONE APPROVED AS TO FORM: Best Ifest & Krieger, LLP City Attome CLERK'S CERTIFICATE I, the undersigned City Clerk of the City of Azusa, hereby certify that the foregoing is a full, true and correct copy of a resolution duly adopted at a meeting of the City Council of said City duly and regularly held on September 21, 2015, of which meeting all of the members of said Council had due notice and at which a majority thereof were present; and that at said meeting said resolution was adopted by the following vote: AYES: COUNCILMEMBERS: GONZALES, CARRILLO, MACIAS, ALVAREZ, ROCI-IA NOES: COUNCILMEMBERS: NONE ABSENT: COUNCILMEMBERS: NONE I further certify that I have carefully compared the same with the original minutes of said meeting on file and of record in my office; that the foregoing resolution is a full, true and correct copy of the original resolution adopted at said meeting and entered in said minutes; and that said resolution has not been amended, modified or rescinded since the date of its adoption, and the same is now in full force and effect. Dated: September 21, 2015 L�W, i �✓ welANN,, -!l