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ORDINANCE NO_
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ORDINANCE OF THE ~~YOR AND CO~~ON COUNCIL
OF THE. CITY OF SAN BERNARDINO AUTHORIZING
THE SAN BEfu~ARDINO PUBLIC SAFETY AUTHORITY
TO ISSUE REVENUE BONDS
WHEREAS, the County of San Bernardino and the
City of San Bernardino entered into a joint exercise of
powers agreement dated as of April 1, 1968, creating the
San Bernardino public Safety Authority (the "Authority")
for the purpose of exercising certain common powers of
the County and the City; and
WHEREAS, the Authority has previously issued
and sold bonds of said Authority in the aggregate principal
amount of $7,700,000, said bonds being designated "Sewage
Treatment Plant Revenue Bonds, Issue of 1970"; and
WHEREAS, the Authority has determined that
substantial interest savings and other benefits can be
effected by providing for the redemption of $5,670,000
aggregate principal amount of such bonds maturing by
their terms in varying principal amounts on August 1,1981
and on each August 1 thereafter to and including August 1,
2000; and
WHEREAS, the City has found and determined that
such redemption should be funded by the issuance of refunding
revenue bonds of the Authority in an amount not to exceed
$6,000,000.
~~
.
NOW, THEREFORE, the Mayor and Common Council of the City of
San Bernardino DO ORDAIN as follows:
Section 1. The San Bernardino Public Safety Authority is
authorized to issue revenue bonds in an amount not to exceed
$6,000,000 to fund the project referred to in the recitals hereof.
Section 2. This ordinance is subject to the provisions for
referendum applicable to the City of San Bernardino.
Section 3. The City Clerk is directed to publish this ordi-
nance once in accordance with Section 33 of the Charter of the
City of San Bernardino within fifteen (15) days after the passage
of this ordinance.
I HEREBY CERTIFY that the foregoing ordinance was duly adopted
by the Mayor and Common Council of the City of San Bernardino at a
Regular Meeting thereof, held on the 19th day of November, 1973,
by the following vote, to wit:
AYES:
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NAYES:
ABSENT: &---/.-d#; P!~.A ,4
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ADOPTED, SIGNED AND APPROVED this ~/ ~:7!- day of ~~L-A
19730
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