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RESOLUTION NO. 9 4 -15
RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF NATIONAL CITY
APPROVING THE ISSUANCE OF REVENUE BONDS
CALIFORNIA STATEWIDE COMMUNITIES DEVELOP
TO FINANCE THE BAYSIDE COGENERATIO
FOLLOWING A PUBLIC HEARING AND
CERTAIN DETERMINATIONS
FTHE
T AUTHORITY
ROJECT
KING
RETO
WHEREAS, the California Statewide Co - munities Development Authority
(the "Authority"), a joint powers authority organized : nd existing under Title 1, Division
7, Sections 6500 et seq. of the Government Code o - the State of California, is authorized
and empowered to issue one or more series of it revenue bonds to finance certain costs
of acquiring and constructing an approximatel 49 megawatt cogeneration facility to be
located at 1400 Tidelands Avenue in the Ci of National City (the "City") and owned
by Bayside Cogeneration, L.P. (the "Projet"); and
WHEREAS, before the Authority determines to avail itself of its
authorization to issue revenue bonds to finance the Project, notice of public hearing with
respect to the Project must be publis - ed, and an "applicable elected representative" must
conduct a public hearing pursuant • such published notice, as required by Section 147(f)
of the Internal Revenue Code of 986, as amended (the "Code"); and
WHEREAS, the City has published such notice and by its City Council, as
an "applicable elected repre ntative" with respect to the Project, has conducted a hearing
pursuant to such publishes notice at a meeting of the City Council of the City as 4:00
p.m. this 15th day of Fe.ruary, 1994.
NOW, ► EREFORE, BE IT RESOLVED by the City Council of the City
of National City th. the City hereby approves the Project and the proposed issuance of
not more than $51,000,000 aggregate principal amount of revenue bonds of the
Authority, in o - or more series, to finance costs of acquiring and constructing the
Project. Such onds are to be payable solely from amounts received by the Authority
from or und- one or more related loan agreements or installment sale agreements with
Bayside Cogeneration, L.P., and will not be a general obligation of the City or a charge
upon the ' 11 faith and credit of the City. Nothing contained herein shall be construed
to impl any guarantee or obligation whatsoever of the City in respect of such bonds.
Continued on Page Two
Resolution No. 94-15
Page 2 of 2
PASSED and ADOPTED this 15th day of February, 1994.
George H. Waters, Mayor
ATTEST:
Lori Anne Peoples, City Clerk
APPROVED AS TO FORM:
/4.4;
George H. Eiser, III
City Attorney