SA Resolution 2016-005RESOLUTION NO. SA 2016-005
A RESOLUTION OF THE SUCCESSOR AGENCY TO LA
QUINTA REDEVELOPMENT AGENCY AUTHORIZING THE
FORM OF A PRELIMINARY OFFICIAL STATEMENT AND
AUTHORIZING CERTAIN OTHER ACTIONS IN CONNECTION
THEREWITH
WHEREAS, the Successor Agency to the La Quinta Redevelopment Agency (the
"Successor Agency") has previously approved the issuance of its La Quinta
Redevelopment Project Areas No. 1 and 2 Subordinate Tax Allocation Refunding
Bonds, 2016 Taxable Series A (the "Bonds"), and a Second Supplemental Indenture of
Trust relating thereto (the "Supplemental Indenture") at its meeting on July 5, 2016
for the purpose of refunding certain indebtedness incurred by the La Quinta
Redevelopment Agency (the "Prior Obligations"), and wishes at this time to approve a
Preliminary Official Statement in connection with the marketing of the Bonds and for
the purpose of deeming it final within the meaning of Rule 15c2-12; and
WHEREAS, the Oversight Board to the Successor Agency to the La Quinta
Redevelopment Agency has approved of the issuance of the Bonds by a resolution
adopted at its meeting on July 6, 2016 (the "Oversight Board Resolution"); and
WHEREAS, a copy of the Oversight Board Resolution was provided to the
Department of Finance on July 6, 2016; and
WHEREAS, the Successor Agency is awaiting approval by the Department of
Finance of the issuance of the Bonds; and
WHEREAS, no further action by the Oversight Board is required with respect to
the approval of the Preliminary Official Statement by the Successor Agency
NOW, THEREFORE, BE IT RESOLVED, by the Successor Agency to the La Quints
Redevelopment Agency as follows:
Section 1. The Preliminary Official Statement relating to the Bonds (the
"Preliminary Official Statement"), in the form presented and on file with the Secretary,
is hereby approved. An Authorized Representative (as defined below) is hereby
authorized and directed, for and in the name and on behalf of the Successor Agency,
to cause the Preliminary Official Statement in substantially said form, with such
additions or changes therein as the Authorized Representative may approve, to be
deemed final for the purposes of Rule 15c2-12 of the Securities and Exchange Act of
1934 ("Rule 15c2-12"). The Underwriter is hereby authorized to distribute the
Preliminary Official Statement to prospective purchasers of the Bonds in substantially
the form hereby approved, together with such additions thereto and changes therein
as are determined necessary by the Authorized Representative to make the
Resolution No. SA 2016-005
Authorize the Form of a Preliminary Official Statement
Adopted: September 20,2016
Page 2 of 3
Preliminary Official Statement final as of its date for purposes of Rule 15c2-12,
including, but not limited to, such additions and changes as are necessary to make all
information set forth therein accurate and not misleading.
Section 2. The preparation and delivery of an Official Statement, and its use
by the Successor Agency and the Underwriter, in connection with the offering and sale
of the Bonds, is 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 requested by Bond Counsel or the Underwriter
and approved by an Authorized Representative, as defined below, such approval to be
conclusively evidenced by the execution and delivery thereof. The Authorized
Representative is hereby authorized and directed to execute the final Official
Statement and any amendment or supplement thereto, in the name of and on behalf
of the Successor Agency, and thereupon to cause the final Official Statement and any
such amendment or supplement to be delivered to the Underwriter.
Section 3. The Chair of the Successor Agency, the Executive Director of the
Successor Agency, the Assistant Executive Director of the Successor Agency, the
Secretary of the Successor Agency, their written designee, and any other proper officer
of the Successor Agency ("Authorized Representative"), acting singly, be and each of
them hereby is authorized and directed to execute and deliver any and all documents
and instruments, relating to the Bonds, and each series thereof, and to do and cause
to be done any and all acts and things necessary or proper for carrying out the
transactions contemplated by the Preliminary Official Statement, the Official
Statement, this Resolution and any such agreements approved by Bond Counsel.
Section 4. This Resolution shall take effect immediately upon its adoption.
PASSED, APPROVED, and ADOPTED at a regular meeting of the Successor
Agency to the Dissolved La Quinta Redevelopment Agency held on this 20th day of
September, 2016, by the following vote:
AYES: Agency Members Franklin, Osborne, Pena, Radi, Chair Evans
NOES: None
ABSENT: None
ABSTAIN: None
LIND_ALEVuA-NNS, Chairperson
City of La Quinta Acting as Successor
Agency to the La Quinta
Redevelopment Agency
Resolution No. SA 2016-005
Authorize the Form of a Preliminary Official Statement
Adopted: September 20, 2016
Page 3 of 3
ATTEST:
SUSAN MA SELS, Secretary of the Successor Agency to the
Lq Quinta Redevelopment Agency
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APPROVED AS TO FORM:
William Ihrke, Successor Agency Counsel
City of La Quinta Acting as Successor Agency
To the La Quinta-Redevelopment Agency