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1966/03/23 Rohnert Park Civic Commission ResolutionT'J=.RJR:amf RESOLUTION NO. 11 y 15C A RESOLUTION AMENDING RESOLUTION PROVIDING FOR THE ISSUANCE OF REVENUE BONDS ROHNERT PARK CIVIC COMMISSION RESOLVED, by the Board of Commissioners of the Rohnert Park Civic Commission, Sonoma County, California, that Sections 10, 11, 13, 14, 30, 68 and 69 of Resolution No. 5, heretofore adopted by this Board on March 7, 1966, be amended to provide as follows: "10. Term of Bonds. The bonds shall be in the aggregate principal amount of $100,000, shall be dated May 1, 1966, shall be designated "Rohnert Park Civic Commission Public Safety Build- ing Revenue Bonds of 1966 ", shall be negotiable in and of the character known as "serial ", and shall be 100 in number, numbered consecutively from 1 to 100, both inclusive, and of the denomination of 51,000 each.. The bonds shall mature serially in the order of serial numbers and have maturity dates of July 1 in each of the years and amounts, as follows: $1,000 Denomination Aggregate Bond Numbers Principal Year of (both inclusive) Amount Maturity Callable 1 - 2 $2,000 1967 Non 3 - 5 3,000 1968 Non 6 8 3,000 1969 Non 9 - 11 3,000 1970 Non 12 - 15 4,000 1971 Non 16 - 19 4,000 1972 Non 20 - 23 4,000 1973 Non 24 - 27 4,000 1974 Non 28 - 31 4,000 1975 Non 32 - 36 5,000 1976 Non 37 - 41 5,000 1977 On or after 7/1/1976 42 - 46 5,000 1978 " " " " 47 - 52 6,000 1979 " " it " 53 - 58 6,000 1980 if " " " 59 - 64 6,000 1981 " " " 65 - 7o 6,000 1982 " " " '► $1,000 Denomination Aggregate Bond Numbers Principal (both inclusive) Amount 71 - 77 78 - 84 85 - 92 93 - loo Year of Maturity Callable 7,000 1983 On or after 7/1/1976 7,000 1984 „ TT 8,000 1985 T, ii T, „ 8,000 1986 "11. Callable Bonds maturing by their terms on or before July 1, 1976,-shall not be subject to call prior to their fixed maturity date. Bonds maturing on or after July 1, 1977, shall, by their terms, be subject to call and redemption, at the option of the Commission, as a whole or in part, in inverse numerical order on July 1, 1976 (but not prior thereto) or on any interest date there- after and prior to their maturity date or dates at the principal amount thereof and accrued interest thereon to the date of redemption, plus a redemption premium equal to one - quarter of one per cent (1/4 of 1/) of such principal amount for each whole six (6) months, and for any remaining fraction of a six (6) month period from the date fixed for redemption to the maturity date of the bonds; provided, however, that in no event shall the premium paid on prior redemption of any bond exceed the coupon rate applicable to said bond. "13. Interest Coupons. The bonds shall bear interest at the rate of not to exceed six per cent (6%) per annum from their date until paid. Said interest shall be payable semiannually on the 1st days of January and July of each year to the date of maturity, except for the first coupon which shall be for interest from the date of the bonds to July 1, 1966. Attached to each bond shall be interest coupons payable at the times the respective interest payments thereon become due and for the amount thereof, as determined from the accept- ed bid for the purchase of the bonds. Bidders for the purchase of the bonds must specify the rate or rates of interest which the bonds shall bear. Bidders may bid different rates of interest irrespective of the maturities of the bonds, provided that the spread from the lowest to the highest rate shall not exceed two and one -half per cent (2 -1 /2%) per annum. The interest rates stated in the bid may be in multiples of any fraction of one per cent. The rate of interest for one or more full interest periods on all of the bonds of one or more maturities may be split into two rates evidenced by separate coupons designated "A'T and "B TT . "14. Interest After Maturity. If, upon presentation at matu- rity, or if redeemable and duly called for redemption, payment of any bond or of any interest coupon thereon is not made in full in accordance with the terms of this Indenture, said bond or coupon, or both, shall continue to bear interest at the "AT" coupon rate stated in the bond until paid in full. "30. Bond Fund. There is hereby created a special fund designated "Rohnert Park Civic Commission 1966 Public Safety Building Revenue Bond Fund ", herein called "Bond Fund ", which shall be main- tained by the Fiscal Agent, as a separate account distinct from all other funds of the Entity, to cover the payment of the principal of and interest on the bonds. 2 (a) Forthwith, upon receipt of the proceeds of the bonds of this issue, the Finance Officer shall pay therefrom to the Fiscal Agent for deposit in the Bond Fund any funds received on account of premium and interest accrued on the bonds from their date to the date of delivery; (b) On May 1, 1966 and on the first day of July and Janu- ary thereafter in each year the Finance Officer shall pay out of the Revenue Fund to the Fiscal Agent for deposit into the Bond Fund, the amount necessary to pay the interest which shall become due on the next succeeding interest payment date; (c) On January 1, 1967, and on the first day of January thereafter in each year, the Finance Officer shall pay out of the Revenue Fund to the Fiscal Agent for deposit into the Bond Fund, the amount necessary to pay the installment of principal which shall fall due at the next ensuing principal payment date; (d) Any amount required to be set aside, transferred to and placed in the Bond Fund may be prepaid in whole or in part by being earlier set aside, transferred to and placed in the Bond Fund, and in that event the transfer which has been so prepaid need not be made at the time appointed therefor. In any event, at least six (6) months prior to the due date of any maturity or installment of principal of or interest on the bonds all sums required for the payment thereof must be in such Bond Fund in cash. All moneys in this Fund shall be used and withdrawn solely for the purpose of paying the principal of and interest on the bonds as the same shall become due and payable. After full payment of the bonds and interest any balance in the Fund shall be returned to the Revenue Fund. "68. Bond Form. The bonds and coupons representing interest thereon shall be in substantially the following form: No. UNITED STATES OF AMERICA STATE OF CALIFORNIA COUNTY OF SONOMA ROHNERT PARK CIVIC COMMISSION PUBLIC SAFETY BUILDING REVENUE BOND OF 1966 1,000.00 KNOW ALL MEN BY THESE PRESENTS, that the Rohnert Park Civic Com- mission, a public entity, in the County of Sonoma, State of California, hereinafter referred to as "Commission ", for value received, has obligated itself to pay to the bearer (or if this bond is registered, to the registered owner hereof), from the 1966 Public Safety Building Revenue Bond Fund of the Commission, on the 1st day of July, 19 , the sum of ONE THOUSAND DOLLARS, with interest thereon from date at the rate of % per annum, as evidenced by "A" coupons attached hereto at the time of issuance (plus additional interest represented by separate detachable "B" coupons at the rate of % per annum from , 19 to and including , 19 9)* said interest payable semiannually on the first day of * To be inserted when split interest rates represented by split coupons are bid 3 January and the 1st day of July of each year to the date of maturity, except the first coupon which shall be for interest from the date hereof to July 1, 1966. Bonds maturing by their terms on or before July 1, 1976, shall not be subject to call prior to their fixed maturity date. Bonds maturing on or after July 1, 1977, shall, by their terms, be subject to call and redemption, at the option of the Commission, as a whole or in part, in inverse numerical order on July 1, 1976 (but not prior thereto) or on any interest date thereafter and prior to their ma- turity date or dates at the principal amount thereof and accrued interest thereon to the date of redemption, plus a redemption premium equal to one - quarter of one per cent (1/24 of 1%) of such principal amount for each whole six (6) months, and for any remaining fraction of a six (6) month period from the date fixed for redemption to the maturity date of the bonds; provided, however, that in no event shall the premium paid on prior redemption of any bond exceed the coupon rate applicable to said bond. The Finance Officer shall cause thirty (30) days prior notice of redemption to be given by mail, and in addition shall publish such notice once at least thirty (30) days prior to the date of call in a financial paper published in San Francisco or in a financial paper published in New York. The Finance Officer shall mail such notice by registered mail to the last known holder or holders of any bearer bonds so called, as shown by the records in his office, and to the registered owners of any registered bonds at their addresses shown on the bond registry books. No interest shall accrue on said bonds called for redemption or on any interest coupons thereon, after the redemption date specified in said notice. The Commission may, from time to time, purchase any or all of said outstanding bonds at prices offered at or below the sum required to be paid in the event of redemption by call. All bonds purchased or called will be cancelled and will not again be reinstated. If, upon presentation at maturity, or if redeemable and duly called for redemption, payment of this bond or any interest coupon thereon, or both, is not made in full accordance with the terms of the resolution providing for the issuance hereof, said bond or coupon, or both, shall continue to bear interest at the "A" coupon rate stated herein until paid in full. Both principal and interest are payable in lawful money of the United States of America at the Exchange Bank, Main Office, Santa Rosa, California, the Fiscal Agent of the Commission, or, at the option of the holder, at any fiscal agency of the Commission in San Francisco or Los Angeles, California, Chicago, Illinois, or New York, New York. This bond is one of an issue in the total principal amount of $100,000, all of like date and tenor except as to number, maturity, prior redemption (and interest rate), all issued by the Commission for the purpose of providing money to finance a Project (consisting of the acquisition, construction and improvement of lands and build- ings thereon,'as set forth and described in Resolution No. 5, en- titled "A Resolution Providing for the Issuance of Revenue Bonds, Fixing the Form of Bonds and Providing Covenants for Their Protection ", adopted by the Board of Commissioners of the Commission on March 7, 1966, as amended, to which reference is hereby made for the obligations, duties, rights and privileges hereby created, and as authorized by law and in strict accordance with the provisions of the Bond Law and 24 the resolutions of the Board of Commissioners of the Commission in connection therewith. The holder of this bond has all the rights of a holder of a negotiable instrument payable to bearer. This bond is subject to registration as to principal and in- terest upon written request of the owner and presentation of the bond to the Fiscal Agent for registration. Thereafter, the prin- cipal hereof and interest hereon shall be payable only to such reg- istered owner. Bonds may also be registered as to principal only, in which event the coupons shall not be removed. Registered bonds may be de- registered and again become payable to bearer. Both principal and interest are payable solely from the reve- nues of the Project hereinabove referred to and the Commission is not obligated to pay the principal hereof or interest herein ex- cept from the revenues of said Project. The bonds of this issue constitute a first and prior lien upon said revenues, except that additional bonds may be issued on a parity of lien in accordance with the resolution hereinbefore referred to. All of the revenues produced by rental charges for the use and occupancy of the Project are pledged to pay the principal of and interest on the bonds of this issue and to provide (1) a Revenue Bond Fund, and (2) operation and maintenance funds. Neither the payment of the principal hereof or any part thereof nor any interest hereon constitutes a debt, liability or obligation of the City of Rohnert Park, or of Rohnert Park District (a com- munity services district), Sonoma. County, California, the parties to a Joint Powers Agreement which created the Commission and which is more fully described in the aforesaid Resolution. The bonds and coupons appertaining thereto and the resolution may be amended, altered or modified with the consent of the holders of sixty -six and two - thirds per cent (66 -2/3%) of the aggregate principal amount of bonds then outstanding in the manner, to the extent and upon the terms provided in said Resolution. IT IS HEREBY CERTIFIED and RECITED that all acts, conditions and things required by the Constitution and laws of the State of California to be done, to happen and to be performed precedent to and in the issuance of this bond have been done, have happened and have been performed in regular and due form, time and manner as re- quired by law; that the Commission is authorized by law to operate and maintain the Project herein referred to and to issue the bonds of this issue, and the Board of Commissioners thereof has establish- ed and has covenanted to establish, maintain and collect at all times during which the bonds of this issue are outstanding rentals for the use and occupancy thereof sufficient to produce revenues to pay the principal of and interest on the bonds of this issue as the same become due and payable and to pay the expenses of the operation and maintenance of the Project, and the Commission has created a special 1966 Public Safety Building Revenue Bond Fund for the payment of said principal and interest and has agreed to set aside from the revenues of the Project in said fund on May 1, 1966 and on the first day of July and January thereafter in each year the amount necessary to pay the interest which shall become due on the next succeeding interest payment date, and on January 1, 1967, and on the first day of January thereafter in each year, the amount necessary to pay the principal which shall fall due at the next ensuing principal payment date. 5 IN WITNESS WHEREOF, the Rohnert Park Civic Commission by its Board of Commissioners, has caused this bond to be executed on its behalf and under its official seal by its Chairman by his printed, engraved or lithographed facsimile signature and its seal impressed hereon, and by the manual signature of its Secretary, and has caused the interest coupons to be executed and authenticated by the printed, engraved or lithographed facsimile signature of said Secretary, all as of , 1966. Chairman Secretary "69. Interest Coupon Form. The coupons shall be substantially in the following form: (Form of Coupon) Rohnert Park Civic Commission Sonoma County, California Public Safety Building Revenue Bond of 1966 Dated , 1966. The sum shown hereon is payable to bearer (unless bond is reg- istered as to principal and interest) in lawful money as interest (subject to prior redemption right reserved) at the Exchange Bank, Main Office, Santa Rosa, California, or as other- wise provided in the bond. 6 On Coupon A (B) Bond No. ft Secretary I hereby certify that the foregoing is a full, true and correct copy of a resolution duly passed and adopted by the Board of Commissioners of the Rohnert Park Civic Commission, Sonoma County, California, at an adjourned regular meeting thereof held on the 23rd day of March, 1966, by the following vote of the members thereof: AYES, and in favor thereof, Commissioners: Buchanan, V. Smith, C. Smith, Rogers and Pezonella NOES, Commissioners: ABSENT, Commissioners: Secretary APPROVED: