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4913-1558-1851v1/022217-0004
RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BARSTOW APPROVING A
PRELIMINARY OFFICIAL STATEMENT IN CONNECTION WITH THE CITY OF
BARSTOW LOCAL MEASURE I TRANSPORTATION SALES TAX REVENUE CERTIFICATES OF PARTICIPATION, SERIES 2026 AND AUTHORIZING THE
EXECUTION AND DELIVERY OF A CONTINUING DISCLOSURE CERTIFICATE AND
THE PREPARATION OF AN OFFICIAL STATEMENT AND AUTHORIZING THE
EXECUTION OF NECESSARY DOCUMENTS AND CERTIFICATES AND RELATED
ACTIONS
WHEREAS, the City of Barstow (the “City”) is a municipal corporation duly organized and existing under and pursuant to the Constitution and laws of the State of California (the “State”); and WHEREAS, the City desires to provide financing for the design, acquisition, installation, and construction of certain street rehabilitation, pedestrian, bicycle, and safety improvements, traffic signal, safe routes to schools improvements, and bridge and road construction projects located in the City, including all or a portion of the projects described in Exhibit A attached hereto (collectively, the “Projects”) and, for such purposes, on February 17, 2026, the City Council authorized the preparation, sale and delivery of City of Barstow Local Measure I Transportation Sales Tax Revenue Certificates of Participation, Series 2026” (the “Certificates”), in the initial aggregate principal amount of not to exceed $13,000,000, as well as the execution and delivery of an Installment Sale Agreement (the “Installment Sale Agreement”) between the City and the Public Property Financing Corporation of California, a California nonprofit public benefit corporation (the “Corporation”), and a Trust Agreement (the “Trust Agreement”) by and among the City, the Corporation, and U.S. Bank Trust Company, National Association, as trustee (the “Trustee”); and WHEREAS, Rule 15c2-12 promulgated under the Securities Exchange Act of 1934 (“Rule 15c2-12”) requires that, in order to be able to purchase or sell the Certificates, the Underwriter must have reasonably determined that an obligated person has undertaken in a written agreement or contract for the benefit of the holders of the Certificates to provide disclosure of certain financial information and certain material events on an ongoing basis; WHEREAS, in order to cause such requirement to be satisfied, the City desires to enter into a Continuing Disclosure Certificate (such Continuing Disclosure Certificate, in the form presented to this meeting, with such changes, insertions and omissions as are made pursuant to this Resolution, being referred to herein as the “Continuing Disclosure Certificate”); WHEREAS, a Preliminary Official Statement to be used in connection with the offering and sale of the Certificates has been prepared (such Preliminary Official Statement in the form presented to this meeting, with such changes, insertions and omissions as are made pursuant to this Resolution, being referred to herein as the “Preliminary Official Statement”); and WHEREAS, the City Council has been presented with a form of the Preliminary Official Statement and the Continuing Disclosure Certificate, and the City Council has examined each document and desires to approve, authorize and direct the execution of such documents and authorize the sale of the Certificates;
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NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Barstow, California, as follows:
Section 1. Findings. All of the recitals herein contained are true and correct and the City so finds.
Section 2. Authorization of Certificates. The issuance and sale of the Certificates, on the terms and conditions set forth in, and subject to the limitations specified in, the Trust Agreement, was previously approved by this City Council by its resolution dated February 17, 2026 (the “Authorizing Resolution”).
Section 3. Preliminary Official Statement. The Preliminary Official Statement, on file with the City Clerk, with such changes, insertions and omissions therein as may be approved by an Authorized City Representative (as defined in the Authorizing Resolution), is hereby approved, and the use of the Preliminary Official Statement in connection with the offering and sale of the Certificates is hereby authorized and approved. Each Authorized City Representative, acting alone, is hereby authorized and directed, for and on behalf of the City, to certify to the Underwriter that the Preliminary Official Statement has been “deemed final” for purposes of Rule 15c2-12.
Section 4. Final Official Statement. The preparation and delivery of a final Official Statement and any update or supplement thereto (the “Official Statement”), and its use in connection with the offering and sale of the Certificates, are hereby authorized and approved. The Official Statement shall be in substantially the form of the Preliminary Official Statement with such changes, insertions and omissions as may be approved by the Authorized City Representative, such approval to be conclusively evidenced by the execution and delivery of the Official Statement by such Authorized City Representative.
Section 5. Continuing Disclosure Certificate. The Continuing Disclosure Certificate, on file with the City Clerk, is hereby approved. Any one of Authorized City Representatives is hereby authorized and directed, for and on behalf of the City, to execute and deliver the Continuing Disclosure Certificate, with such changes, insertions and omissions as the Authorized City Representative executing the same may require or approve, such requirement or approval to be conclusively evidenced by the execution and delivery of the Continuing Disclosure Certificate by such Authorized City Representative.
Section 6. Other Actions. The Authorized City Representatives are, and each of them hereby is, authorized and directed to execute necessary documents and certificates and do any and all things which they may deem necessary or advisable in order to consummate the transactions herein authorized and otherwise to carry out, give effect to and comply with the terms and intent of this Resolution. Each Authorized City Representative and the City Clerk, acting alone, is hereby authorized and directed to attest the signature of an Authorized City Representative as may be required in connection with the execution and delivery of the documents referenced in and otherwise authorized by this Resolution.
Section 7. Electronic Signatures. The City Council hereby approves the execution and delivery of any and all agreements, documents, certificates and instruments referred to herein with electronic signatures as may be permitted under the California Uniform Electronic Transactions Act and digital signatures as may be permitted under Section 16.5 of the Government Code using DocuSign.
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Section 8. Effective Date. This Resolution shall take effect from and after its adoption.
The foregoing Resolution was passed and adopted by the City Council of the City of Barstow, State of California, this 7th day of April, 2026, by the following vote, to wit:
AYES:
NOES:
ABSENT:
Mayor
ATTEST:
_____________________________
City Clerk
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I, ___________, City Clerk of the City of Barstow, California, hereby certify that the foregoing resolution was duly and regularly introduced and adopted at a meeting of the City Council of said City at its meeting held on the __th day of _____, 2026, by the following vote, to wit:
Ayes:
Noes:
Absent:
Abstain:
IN WITNESS WHEREOF, this ___th day of ______, 2026.
City Clerk of the City of Barstow