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ARA1982-030RESOLUTION NO. ARA 82 -30 RESOLUTION OF THE ANAHEIM REDEVELOPMENT AGENCY APPOINTING PAYING AGENTS FOR BONDS WHEREAS, this Agency has adopted its Resolution No. ARA 82 -22, authorizing the issuance of $20,000,000 principal amount of Redevelopment Project Alpha Tax Allocation Bonds, Series C; and WHEREAS, said resolution provides that the Bonds so authorized shall be payable, at the option of the holder, at the corporate agency division of the Fiscal Agent, Bank of America N.T. & S.A., in Los Angeles, California; or at any paying agent of the Agency in Los Angeles or San Francisco, California; or New York, New York; and WHEREAS, it is necessary that such paying agents be designated at this time; NOW, THEREFORE, the Anaheim Redevelopment Agency DOES HEREBY RESOLVE, DETERMINE AND ORDER as follows: Section 1. Bank of American N.T. & S.A., in the cities of Los Angeles and San Francisco, California; and Bankamerica Securi- ties Services Company of New York, New York, are hereby respectively designated as paying agents of the Agency for said Bonds, in said cities. - ADOPTED, SIGNED AND APPROVED this 18th day of May, 1982. Chairman ATTT-EESS T : s g c f��1� — e etary STATE OF CALIFORNIA ) COUNTY OF ORANGE ) CITY OF ANAHEIM ) I, LINDA D. ROBERTS, Secretary of the Anaheim Redevelopment Agency, do hereby certify that the foregoing Resolution No. ARA82 730 was passed and adopted at a regular meeting of the Anaheim Redevelopment Agency held on the 18th day of May, 1982, by the following vote of the members thereof: AYES: AGENCY MEMBERS: Overholt, Kaywood, Roth and Bay NOES: AGENCY MEMBERS: None ABSENT: AGENCY MEMBERS: None VACANCY: AGENCY MEMBERS: One AND i FURTHER CERTIFY that the Chairman of the Anaheim- Redevelopment Agency signed said Resolution on the 18th day of May, 1982. IN WITNESS WHEREOF, I have hereunto set my hand and seal this 18th day of May, 1982. SECRETARY THE ANAHEIM REDEVELOPMENT AGENCY (SEAL) Proof of April 20, 1982 Anaheim Redevelopment — 7678 -6 NOTICE INVITING BIDS ON $20,000,000 TAX ALLOCATION BONDS OF THE ANAHEIM REDEVELOPMENT AGENCY NOTICE IS HEREBY GIVEN that sealed proposals for the purchase of $20,000,000 par value tax allocation bonds of the Anaheim Redevelopment Agency will be received by said Agency at the place and up to the time below specified. TIME: Tuesday, May 18, 1982 10:00 o'clock A.M. PLACE: Council Chambers Civic Center, 1st Floor 200 South Anaheim Boulevard Anaheim, California MAILED BIDS: Mailed bids should be addressed to: Anaheim Redevelopment Agency c/o Linda D. Roberts, Secretary Civic Center Second Floor 200 South Anaheim Boulevard Anaheim, California 92805 OPENING OF BIDS: The bids will be opened at the time and place shown above and will be presented to the Agency at its meeting to be held later on the same date at the same place. ISSUE: $20,000,000 designated "Redevelopment Project Alpha Tax Allocation Bonds, Series C; consisting of 4,000 bonds, numbered C -1 to C4000, both inclusive, of the denomination of $5,000 each, dated February 1, 1982. MATURITIES: The bonds will mature in consecutive nu- merical order on August 1 in the amounts for each of the several years as follows: Principal Principal Year Amount Year Amoun 1983 .... $ 190,000 1995 .... $ 745,000 1984 .... 215,000 1996 .... 835,000 1985 .... 240,000 1997 .... 935,000 1986 .... 270,000 1998 .... 1,045,000 1987 .... 300,000 1999 .... 1,1=000 1988 .... 335,000 2000 .... 1,315,000 1989 .... 375,000 2001 .... 1,470,000 1990 .... 425 2002 .... 1,645,000 1991 .... 475,000 2003 .... 1,845,000 1992 .... 530,000 2004 .... 2,065,000 1993 .... 595,000 2005 .... 4315,000 1994 .... 665,000 INTEREST: The bonds shall bear interest at a rate or rates to be fixed upon the sale thereof but not to exceed 12% per annum, payable semian nually on February 1 and Au" 1. SOWNE of Los Angeles, Inc. — (213) 742 -8800 1, 1992, may be called before maturity and redeemed at the option of the Agency on August 1, 1991, or on any interest payment date thereafter prior to maturity, from any source of funds, as a whole or in part in inverse order of maturity and by lot within a maturity, at the following premiums (per- centage of par value): Redemption Dates Premium August 1, 1991 and February 1, 1992 .. 2 August 1, 1992 and February 1, 1993 ... 1%% August 1, 1993 and February 1, 1994 1 % August 1, 1994 and February 1, 1995.... 1 !2 % August 1, 1995 and thereafter .... .... 0 % PURPOSE The bonds are to be issued by the Agency OF ISSUE: under and pursuant to the Community Rede- velopment Law of the State of California (Part 1 of Division 24 of the Health and Safety Code) to aid in financing a redevelopment project in the City of Anaheim, known as Redevelopment Project Alpha. SECURITY: The bonds are payable, both principal and in- terest, solely from Tax Revenues (as defined in the Resolution) and from certain other limited funds as pro- vided in the Resolution. The bonds are not obligations of the City of Anaheim or the State of California. BOND INSURANCE: The Agency ' has applied to both the American Municipal Bond Assurance Corporation, an insurance corporation in the City of New York ( "AMBAC'), and the Municipal Bond Insurance Association, an insurance corporation in White Plains, New York ( "MBIA"), for qualification of the bonds for debt service insurance. Notice of such insurance, if obtained, will be conveyed to bidders by an appropriate means. TERMS OF SALE Interest Rate: The maximum rate bid may not exceed 12% per annum, payable semiannually. Each rate bid must be a multiple of Ya or 1/20 of I %. No bond shall bear more than one interest rate, and all bonds of the same maturity shall bear the same rate. Each bond must bear interest at the rate specified in the bid from its date to its fixed maturity date. Only one coupon will be attached to each bond for each installment of interest thereon, and bids providing for addi- tional or supplemental coupons will be rejected. The rate on any maturity or group of maturities shall not be more than 1 1 /2 % higher than the interest rate on any other maturity or group of maturities. Award: The bonds shall be sold for rash only. All bids must Proof of April 20, 1982 Anaheim Redevelopment — 7678 -6 offering the lowest net interest cost to the Agency. The pur- chaser must pay accrued interest ( computed on a 360 -day year basis) from the date of the bonds to the date of delivery. The cost of printing the bonds will be borne by the Agency. Should the bonds be eligible for debt service insurance and such insur- ance is specified by the bidder, any insurance premium will be paid by the Agency and considered as a discount for purposes of calculating net interest cost under such bid. Right of The Agency reserves the right, in its discretion, to Rejection: reject any and all bids and to the extent not prohibited by law to waive any irregularity or informality in any bid. Prompt The Agency will take action awarding the bonds Award: or rejecting all bids not later than 26 hours after the time herein prescribed for the receipt of pro- posals; provided that the award may be made after the expira- tion of the specified time if the bidder shall not have given to the Agency notice in writing of the withdrawal of such pro - posal. Place of Delivery of said bonds will be made to Deliv and the successful bidder at the principal office Funds for of the Fiscal Agent in Los Angeles, Cali- Payment: forma, or at such other place as may be agreed upon by the successful bidder and the Treasurer of the Agency. Payment for the bonds shall be made in Federal Reserve Bank funds or other immediately available funds. Prompt Delivery; It is expected that said bonds will be de- Cancellation for livered to the successful bidder within 30 Late Delivery: days after the award. The successful bidder shall have the right, at his option, to cancel the contract of purchase if the Agency shall fail to execute the bonds and tender them for delivery within 60 days from the date herein fixed for the receipt of bids, and in such event the successful bidder shall be entitled to the return of the check accompanying his bid. The Agency expects to make such delivery in the form of definitive bonds, but reserves the right to make such delivery in the form of temporary bonds, ex- changeable for definitive bonds, at no cost to the purchaser. Form of Bid: Each bid, together with the bid check, must be in a sealed envelope, addressed to the Agency, with the envelope and bid clearly marked "Proposal for Rede- development Project Alpha Tax Allocation Bonds." Bid Check: A certified or cashier's check on a responsible bank or trust company in the amount of $200,000, pay- . BOWME of Los Angeles, Inc. — (213) 742 -6800 Closing Papers; Each proposal will be understood to be con - Legal Opinion: ditioned upon the Agency furnishing to the purchaser, without charge, concurrently with payment for and delivery of the bonds, the following closing papers, each dated the date of delivery: (a) The opinion of O'Melveny & Myers of Los Angeles, California, Bond Counsel, approving the validity of the bonds and stating that interest on the bonds is exempt from income taxes of the United States of America under present federal income tax laws, and that such interest is also exempt from personal income taxes of the State of California under present state income tax laws. (A copy of said opinion of O'Melveny & Myers, certified by an officer of the Agency by facsimile signature, will be printed on the back of each bond. No charge will be made to the purchaser for such printing or certification.); (b) A certificate of the Agency certifying that on the basis of the facts, estimates and circumstances in existence on the date of issue, it is not expected that the proceeds of the bonds will be used in a manner that would cause the bonds to be arbitrage bonds; (c) A certificate of the Agency signed by officers and representatives of the Agency certifying to the following: (1) that said officers and representatives have signed the bonds, whether by facsimile or manual signature, and that they were respectively duly authorized to execute the same; and (2) that there is no litigation threatened or pending affecting the validity of the bonds; (d) The receipt of the Agency showing that the pur- chase price of the bonds, including interest accrued to the date of delivery thereof, has been received by the Agency. Official The Agency will furnish to the successful bidder Statement: as many copies of the Official Statement as said bidder shall request. No charge will be made to the successful bidder for the first 300 copies of the Official Statement. The Agency will deliver to the successful bidder, at the time of delivery of the bonds, a certificate of the Executive Director of the Agency, acting in his official and not his per- sonal capacity, to the effect that at the time of the sale of the bonds and at all times subsequent thereto up to and in- cluding the time of the delivery of the bonds, the Official Statement relating to the bonds did not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in light of the circum- .- - - - - _ - - 1 '_ ___L_-L .L... .... -.. ...-A- -. .,,4.1m44 -n NOTICE OF INTENTION TO SELL BONDS $20,000,000 ANAHEIM REDEVELOPMENT AGENCY CALIFORNIA Redevelopment Project Alpha Tax Allocation Bonds, Series C The Anaheim Redevelopment Agency intends to receive sealed bids for the above Bonds until 10:00 A.M., Anaheim Time, on Tuesday MAY 18, 1982 at the office of the City Clerk of the City of Anaheim, California, Civic Center, 2nd Floor, 200 South Anaheim Boulevard, Anaheim, California, 92805. If no legal bid or if no satisfactory bid is received on May 18, bids will be accepted at the same place and time on Tuesday JUNE 1, 1982 The Bonds will be dated February 1, 1982 and will mature in varying amounts on August 1 of the years 1983 through 2005, inclusive. Copies of the complete Notice Inviting Bids, together with copies of the Official Statement to be issued in connection with the sale of said Bonds, and Bond Resolution may be obtained from the undersigned, at the address shown above. LINDA D. ROBERTS Secretary Anaheim Redevelopment Agency DATED: April , 1982 EXHIBIT "B"