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HomeMy WebLinkAboutCC RESO 2021-157RESOLUTION NO. 2021- 157 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NATIONAL CITY, CALIFORNIA, APPROVING THE FORM AND AUTHORIZING THE EXECUTION OF AN OFFICIAL STATEMENT AND CONTINUING DISCLOSURE CERTIFICATE RELATING TO THE ISSUANCE OF TAXABLE PENSION OBLIGATION BONDS AND APPROVING ADDITIONAL ACTIONS RELATED THERETO WHEREAS, the City of National City (the "City") has previously adopted Resolution No. 2020-201 on October 20, 2020 approving the issuance of the City of National City 2021_Taxable Pension_Obfgation_ Bonds in an aggregate principal_ amount not to exceed $135,000,000 (the "Bonds"), approving the form and authorizing the execution of a Trust Agreement by and between the City and a trustee to be selected by the City (the "Trustee") and a Bond Purchase Agreement by and between the City and an underwriter or underwriters to be selected by the City, and authorizing the filing of judicial validation proceedings relating to the issuance of the Bonds and approving additional actions related thereto; and WHEREAS, the City desires to approve the form of and authorize the execution of an Official Statement and Continuing Disclosure Certificate relating to the Bonds. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF NATIONAL CITY, CALIFORNIA, DOES RESOLVE, DECLARE, DETERMINE, AND ORDER AS FOLLOWS: Section 1. The City Council does hereby find and declare that the above recitals are true and correct. Section 2. The form of the Preliminary Official Statement, presented to the City Council at this meeting and on file with the City Clerk, is hereby approved. The City Manager, the Assistant City Manager, the Administrative Services Director, or their written designees (the "Authorized Officers") are hereby authorized to make such changes to the Preliminary Official Statement as are necessary to make it final as of its date and are authorized and directed to execute and deliver a certificate deeming the Preliminary Official Statement final as of its date in accordance with Rule 15c2-12 promulgated under the Securities Exchange Act of 1934. Each of the Authorized Officers is hereby authorized and directed to execute, approve and deliver the final Official Statement, in the form of the Preliminary Official Statement with such changes, insertions and omissions as the Authorized Officer executing said document may require or approve, such approval to be conclusively evidenced by the execution and delivery thereof by one or more of the Authorized Officers. Ill Resolution No. 2021 — 157 Page Two Section 3. The form of the Continuing Disclosure Certificate (the "Continuing Disclosure Certificate"), presented to the City Council at this meeting and on file with the City Clerk, is hereby approved. Each of the Authorized Officers is hereby authorized and directed, for and in the name and on behalf of the City, to execute and deliver the Continuing Disclosure Certificate in substantially said form, with such changes therein as the Authorized Officer executing such document may require or approve, such approval to be conclusively evidenced by the execution and delivery thereof. Section 4. The Authorized Officers are, and each of them hereby is, authorized and directed to execute and deliver any and all documents and instruments and to do and cause to be done any and all acts and things necessary or proper for carrying out the transactions contemplated hereby. Section 5. This Resolution shall take effect from and after the date of approval and adoption hereof. Section 6: The City Clerk shall certify the passage and adoption of this Resolution and enter it into the book of original Resolutions. PASSED and ADOPTED this 19th day of October, 2021. ATTEST: Luz Molina, ity Clerk APPROVED AS TO FORM: Charles E. Bell Jr., City rney Alejandra Sotelo-Solis, Mayor 2 Passed and adopted by the City Council of the City of National City, California, on October 19, 2021, by the following vote, to -wit: Ayes: Sotelo-Solis, Bush, Rios, Morrison Nays: None Absent: None. Abstain: None. AUTHENTICATED BY: ALEJANDRA SOTELO-SOUS BY: Mayor of the City of National City, California LUZ MOLINA City Clerk of the City of National City, California Shelley U,1 (1./ lapel, MM , Deputy City Clerk I HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of RESOLUTION NO. 2021-157 of the City of National City, California, passed and adopted by the City Council of said City on October 19, 2021. Luz Molina, ty Clerk