Resolution No. 2024-091
May 1, 2024
RESOLUTION NO. 2024-091
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN
BERNARDINO DECLARING ITS INTENT TO ISSUE TAX EXEMPT
OBLIGATIONS TO BE USED TO REIMBURSE EXPENDITURES PRIOR
TO THE ISSUANCE OF SUCH BONDS
WHEREAS, the City of San Bernardino (the “City”) plans to issue tax-exempt lease revenue bonds (the “Obligations”) to fund the seismic retrofit and renovation of City Hall (the “Project”); and
WHEREAS, the City reasonably expects to use a portion of the proceeds of the Obligations to reimburse the City for expenditures on the Project.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN
BERNARDINO AS FOLLOWS:
SECTION 1. Declaration of Official Intent. The City hereby declares its official intent, subject to the further approval of this City Council, to use up to $30,000,000 million of the proceeds of the Obligations to reimburse for expenditures on the Project. It is intended that this Resolution shall constitute a declaration of “official intent” within the meaning of Section 1.150- 2 of the Treasury Regulations promulgated under Section 150 of the Internal Revenue Code, as amended.
SECTION 2. Other Approvals. The adoption of this Resolution shall not bind the Authority to proceed with execution and delivery of the Obligations until and unless all other necessary actions and approvals are taken or received in accordance with all applicable laws, at the discretion of the City.
SECTION 3. Effective Date. This Resolution shall take effect from and after the date of its passage and adoption.
APPROVED and ADOPTED by the City Council and signed by the Mayor and attested by the City Clerk this 1st day of May, 2024.
Helen Tran, Mayor
Attest:
Genoveva Rocha, City Clerk
Resolution No. 2024-091
Resolution No. 2024-091
May 1, 2024
Approved as to form:
Sonia R. Carvalho, City Attorney
Resolution No. 2024-091
Resolution No. 2024-091
May 1, 2024
CERTIFICATION
STATE OF CALIFORNIA )
COUNTY OF SAN BERNARDINO ) ss
CITY OF SAN BERNARDINO )
I, Genoveva Rocha, City Clerk of the City of San Bernardino, hereby certify that the attached is a true copy of Resolution No. 2024-___, adopted at a regular meeting held on the 1st day of May, 2024 by the following vote:
Council Members: AYES NAYS ABSTAIN ABSENT
SANCHEZ ______ ______ _______ _______
IBARRA ______ ______ _______ _______
FIGUEROA ______ ______ _______ _______
SHORETT ______ ______ _______ _______
REYNOSO ______ ______ _______ _______
CALVIN ______ ______ _______ _______
ALEXANDER ______ ______ _______ _______
WITNESS my hand and official seal of the City of San Bernardino this ____ day of _______________, 2024.
__________________________________
Genoveva Rocha, City Clerk