Tab_A-2$11,230,000
ROSENIF-AD CO:I\IL NITY DEVFLOP~IENT CONINUSSION
ROSENIF %D MERGED PROJECTAREA
TAX ALLOCATION BONDS, SFRIES 2010A
CERTIFICATE OF SECRETARY OF THE AUTHORITY
REGARDING RESOLE "rION NO. FA2010-02
1, Gloria Molleda, hereby certify that I gun the ~ccrcturtiof the Rosemead Financing
Authority ithe "Authority"), a joint C\Crci,e ofhov~er, authority, organized mid c~t,ting under
and bJ , irtuc ofthe laws of the State of California, and that as such, I ain flit iliar with the facts
hcrcin ccrtif icd and authori/cd and qualified to execute the same on behalf of the Authority.
I hereby certify that the attached resolution is the full, true and correct copy of Resolution
No. FA2010-02, adopted at a regular meeting of the members of the Authority held on June 22,
2010, of which meeting all of the members of the Authority had due notice and at which a
quorum was present and acting throughout.
I hereby further certify that I have carefully compared the same with the original
resolution as so adopted at said meeting and entered in the minutes of the meeting of the
Authority on file and of record in my office and that it is a full, true and correct copy of said
resolution; and that said resolution has not been amended, modified or rescinded since the date of
adoption and is now in full force and effect.
Dated: July 15, 2010
ROSEMEAD FINANCING
AUTHORITY
By: - -
Gloria Molleda, Secretary
RESOLUTION NO. FA2010-02
A RESOLUTION OF THE ROSEMEAD FINANCING AUTHORITY
AUTHORIZING THE EXECUTION AND DELIVERY OF A
PURCHASE CONTRACT BY AND AMONG THE ROSEMEAD
COMMUNITY DEVELOPMENT COMMISSION, THE ROSEMEAD
FINANCING AUTHORITY AND THE UNDERWRITER NAMED
THEREIN AND ACTION RELATED THERETO
WHEREAS, the Rosemead Community Development Commission (the "Commission")
has determined to issue its Rosemead Community Development Commission, Merged
Redevelopment Project Area Tax Allocation Bonds, Series 2010A, in the aggregate principal
amount of not to exceed $12,000,000 (the "Bonds");
WHEREAS, the Rosemead Financing Authority (the "Authority"), pursuant to the
Marks-Roos Local Bond Pooling Act of 1985 (Article 4, Chapter 5, Division 7, Title 1 of the
California Government Code) has the authority to purchase and resell the Bonds; and
NOW, THEREFORE, BE IT RESOLVED by the Governing Board of the Rosemead
Financing Authority, as follows:
Section 1. Execution of Purchase Contract. The Chairman, Vice-Chairman,
Treasurer, the Executive Director and Secretary of the Authority (each an "Authorized Officer")
are each authorized acting alone to execute and deliver the Purchase Contract (the "Purchase
Contract"), by and among the Authority, the Commission and E.J De La Rosa & Co., Inc.,
as underwriter, in substantially the form presented to this meeting and on file with the Secretary
of the Authority.
Section 2. Other Actions. The Authorized Officers 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 may deem necessary or advisable in order to consummate the issuance,
sale and delivery of the Bonds as contemplated in the Purchase Contract, and any such actions
previously taken by the aforementioned officers are hereby ratified, confirmed and approved in
all respects.
OHS WEST:260893165.1
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Section 3. Effective Date. This resolution shall take effect from and after
its adoption.
I, Gloria Molleda, Secretary of the Rosemead Financing Authority, hereby certify that the
foregoing resolution was duly and regularly introduced and adopted at a regular meeting of said
Commission held on June 22, 2010, by the following vote, to wit:
AYES: ARMENTA, CLARK, LOW, LY
NOES: TAYLOR
ABSENT:
Gary T lor, Chair
ATTEST:
A
Gloria Molleda, Secretary
APPROVED AS TO FORM:
Joseph-l . M nt Agen y Attorney
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SECRETARY'S CERTIFICATE
I, Gloria Molleda, Secretary of the Rosemead Financing Authority, do hereby certify as
follows:
The foregoing resolution is a full, true and correct copy of a resolution duly adopted by a
vote of a majority of the members of the Rosemead Financing Authority at a regular meeting of
said Authority duly and regularly and legally held at the City of Rosemead, California, on June
22, 2010, of which all of such members had due notice, as follows:
AYES: ARMENTA, CLARK, LOWLY
NOES: TAYLOR
ABSENT:
An agenda of said meeting was posted at least 72 hours before said meeting at 8838 E.
Valley Boulevard, Rosemead, California, a location freely accessible to members of the public,
and a brief description of said resolution appeared on said agenda.
I have carefully compared the foregoing with the original minutes of said meeting on file
and of record in my office, and the foregoing is a full, true and correct copy of the original
resolution adopted at said meeting and entered in said minutes.
Said resolution has not been amended, modified or rescinded since the date of its
adoption and the same is now in full force and effect.
Dated: 2010.
q, + 6/
Secretary of the Rosemead Financing
Authority
3
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Attachment H
ROSEMEAD COMMUNITY DEVELOPMENT COMMISSION
Rating Upgrade Analysis
Par Amount of Bonds
$10,870,000
$10,870,000
-
Estimated All-In Interest Rate*
5.60%
5.30%
0.30%
Total Debt Service
$15,483,030
$15,217,278
$265,752
Average Annual Debt Service
$1,171,478
$1,151,370
$20,107
Present Value of Debt Service**
$10,969,763
$10,774,251
$195,512
* Based on interest rates as of June 14, 2010
Based on discount rate of 5.25%