HomeMy WebLinkAboutReso 97-014 - Approve the Disclosure relating to the COR as set forth in the preliminary official statement for the M-S-R Public Power Agency San Juan Project refunding revenue bonds � //
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RESOLUTION NO. 9�/Y
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING APPROVING
DISCLOSURE RELATING TO THE CITY OF REDDING AS SET FORTH IN THE
PRELIMINARY OFFICIAL STATEMENT FOR THE M-S-R PUBLIC POWER AGENCY
SAN JUAN PROJECT REFUNDING REVENUE BONDS.
WHEREAS, since 1982 the City of Redding (the "City") has been a member of the M-S-R Public Power
Agency(the "Agency")established pursuant to the Joint Powers Agreement, dated as of November 17, 1982, among
the Modesto Irrigation District,the City of Redding, and the City of Santa Clara(collectively,the "Participants"); and
WHEREAS,the Agency proposes to issue San Juan Project Refunding Revenue Bonds in several series (the
"Bonds") in order to reduce and restructure the amount of debt service to be paid in connection with certain of its
outstanding bonds and to pass these savings and financial benefits along directly to each of the Participants; and
WHEREAS, in order to offer the Bonds for sale,the Agency has prepared its Official Statement, including a
portion of the Official Statement relating to the electric utility of each of the Participants; and
WHEREAS, in order to realize the savings and other financial benefits from the sale of the Agency's Bonds,
the City desires to approve that portion of Appendix A to the Off cial Statement relating to the City;
NOW, THEREFORE,BE IT RESOLVED by the City Council of the City of Redding as follows:
Section 1: The portion of Appendix A to the Preliminary Official Statement relating to the City of Redding
is hereby ratified, confirmed and approved in all respects.
Section 2: The officers of the City are hereby authorized and directed to execute and deliver such
certificates, agreements, and other documents as they deem necessary and appropriate for purposes of implementing
or evidencing the approval set forth in this resolution.
Section 3: The staff of the City of Redding, subject to the approval of the City Attorney, is authorized and
directed to make such additional changes to the Appendix A as may be required prior to publication of the Official
Statement.
Section 4: This resolution shall take effect immediately upon its adoption.
I HEREBY CERTIFY that the foregoing resolution was introduced, read and adopted at a regular meeting
of the City Council on the 21 s tday of January, 1997, by the following vote:
AYES: COUNCILMEMBERS: P. Anderson, R. Anderson, Kehoe, Murray
NOES: COUNCIL MEMBERS: None and McGeorge
ABSENT: COUNCIL MEMBERS: None
ABSTAIN: COUNCIL MEMBERS: None �
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AVID L EO ,M or 'v
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Attest: Form Approved: �
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Connie Stroh"mayer, City C k W. Leonard Wingate, -t Attorney� � - - -� � -� � ' - �� -