CC RESOLUTION 4424RESOLUTION NO 4424
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF EL
SEGUNDO APPROVING THE ISSUANCE OF THE CALIFORNIA
MUNICIPAL FINANCE AUTHORITY POLLUTION CONTROL REVENUE
REFUNDING BONDS (CHEVRON U S A INC PROJECT), SERIES 2005
IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED
$19,900,000 FOR THE PURPOSE OF REFINANCING DEBT ISSUED TO
FINANCE THE ACQUISITION OF POLLUTION CONTROL FACILITIES
AND CERTAIN OTHER MATTERS RELATING THERETO
WHEREAS, the California Municipal Finance Authority (the "Authority ") has been
requested by Chevron U S A Inc, a Pennsylvania corporation (the "Corporation "), to
issue its bonds (the 'Bonds ") to refund bonds issued to finance the acquisition,
construction and installation of those certain water pollution control facilities (the
"Facilities ") owned and operated by the Corporation and located within the City of El
Segundo, California (the "City),
WHEREAS, pursuant to Section 147(f) of the Internal Revenue Code of 1986
(the "Code "), the issuance of the Bonds by the Authority must be approved by the City
because the Facilities are located within the territorial limits of the City, and
WHEREAS, the City Council of the City (the "City Council ") is the elected
legislative body of the City and is one of the applicable elected representatives required
to approve the issuance of the Bonds under Section 147(f) of the Code, and
WHEREAS, the Authority has requested that the City Council approve the
issuance of the Bonds by the Authority in order to satisfy the public approval
requirement of Section 147(f) of the Code and the requirements of Section 9 of the
Amended and Restated Joint Exercise of Powers Agreement, dated as of June 1, 1988
(the "Agreement'), among certain local agencies, including the City,
WHEREAS, pursuant to Section 147(f) of the Code, the City Council has,
following notice duly given, held a public hearing regarding the issuance of the Bonds,
and now desires to approve the issuance of the Bonds by the Authority,
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of El
Segundo as follows
SECTION 1 The City Council hereby approves the issuance of the Bonds by the
Authority It is the purpose and intent of the City Council that this resolution constitute
approval of the issuance of the Bonds by the Authority, for the purposes of (a) Section
147(f) of the Code by the applicable elected representative of the issuer of the Bonds
and the governmental unit having jurisdiction over the area in which the Facilities are
located, in accordance with said Section 147(f) and (b) Section 9 of the Agreement
SECTION 2 The Mayor, the City Manager, the City Clerk and all other proper officers
and officials of the City are hereby authorized and directed, jointly and severally, to do
any and all things and to execute and deliver any and all documents which they deem
necessary or advisable in order to carry out, give effect to and comply with the terms
and intent of this resolution and the financing transaction approved hereby
SECTION 3 This resolution shall take effect immediately upon its adoption
PASSED, APPROVED AND ADOPTED this 7th day of
ATTEST
( Mb6m M c�
CINDY MIORTESEN, CITY CLERK
APPROVED AS TO FORM-
,Y MUDO MAYOR
MARK D HENS LEY, CITY ATTORNEY��
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STATE OF CALIFORNIA }
COUNTY OF LOS ANGELES } ss
CITY OF EL SEGUNDO }
I, Cindy Mortesen, City Clerk of the City of El Segundo, do hereby certify that
the foregoing Resolution No 4424 was adopted at a regular meeting of the
City Council of the City of El Segundo held on June 7, 2005, by the following
vote
AYES COUNCILMEMBERS McDowell, Gaines, Boulgarides, Busch, Jacobson
NOES COUNCILMEMBERS None
ABSENT COUNCILMEMBERS None
ABSTAIN COUNCILMEMBERS None
o!1'1 ��
UINLYY MORTESEN
CITY CLERY.
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