HomeMy Public PortalAboutResolution - 03-34- 20031008 - 2003 Bond Hearing SMC I '
RESOLUTION NO. 03-34
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
MIDPENINSULA REGIONAL OPEN SPACE DISTRICT CALLING A
PUBLIC HEARING IN SAN MATEO COUNTY TO CONSIDER THE
ISSUANCE BY THE MIDPENINSULA REGIONAL OPEN SPACE
DISTRICT FINANCING AUTHORITY OF ITS 2004 REVENUE BONDS,
AND WHETHER THERE ARE ANY SIGNIFICANT PUBLIC BENEFITS TO
THE DISTRICT FROM SUCH FINANCING
WHEREAS,the Board of Directors(the"Board of Directors")of the Midpeninsula
Regional Open Space District(the"District") is authorized by law to acquire real property for open
space purposes of the District; and
WHEREAS, the District proposes to enter into a Site Lease(the"Site Lease) and a
related Project Lease (the"Project Lease
)with the Midpeninsula Regional Open Space District
Financing Authority(the"Authority) in connection with the issuance by the Authority of its 2004
Revenue Bonds (the"Bonds") for the purposes (among others) of acquiring real property for open
space purposes of the District located within the boundaries of the District in San Mateo County, as
more particularly provided in the copies of such two leases on file with the Secretary of the Board of
Directors(the"Secretary"); and
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the
Midpeninsula Regional Open Space District, as follows:
Section 1. All of the foregoing recitals are true and correct, and the Board of
Directors so finds and determines.
Section 2. A public hearing is hereby called and will be held in San Mateo County
by the Board of Directors on Tuesday, the 21 st day of October, 2003, at the hour of 7:30 P.M., at the
Town Hall, Town of Portola Valley, 765 Portola Road,Portola Valley, California 94028, at which
public hearing the Board of Directors will consider the acquisition of such real property in San Mateo
County for open space purposes of the District by the issuance and sale by the Authority of the Bonds,
and whether there are any significant public benefits to the District from such financing, including
demonstrable savings from the issuance and sale of the Bonds, such as savings in effective interest
rate, bond preparation, bond underwriting or bond issuance costs(in accordance with Section 6586 of
the California Government Code), and at which public hearing all interested persons desiring to
address the Board of Directors will be permitted to appear and address the Board of Directors on the
foregoing matters.
i
Section 3. The Secretary is hereby authorized and directed to give notice of such
public hearing by publishing a notice once at least five (5) days prior to such public hearing in the San
Mateo County Times, a newspaper of general circulation published in San Mateo County(such notice
to be substantially in the form attached hereto, labeled Exhibit A and incorporated herein and made a
part hereof).
Section 4. This resolution shall take effect from and after its passage and approval.
RESOLUTION No. 03-34
PASSED AND ADOPTED by the Board of Directors of the Midpeninsula Regional Open Space
District on October 8, 2003, at a Regular Meeting thereof, by the following vote:
AYES: N. Hanko, M. Davey, P. Sieme", L. Haz6ett, K. Nitz, D. L%ttte
NOES: None
ABSTAIN: None
ABSENT: J. C ytt
ATTEST: APPROVED:
Sec ta Ffresident
and of Direct rs Board of Directors
I, the District Clerk of the Midpeninsula Regional Open Space District, hereby certify that
the above is a true and correct copy of a resolution duly adopted by the Board of Directors of
the Midpeninsula Regional Open Space District by the above vote at a meeting thereof duly
held and called on the above day.
Assistant D' r' t Clerk