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<br />. <br /> <br />WHEREAS, the City, pursuant to the 1986 Lease is <br />required to make certain base rental payments to the Agency; and <br /> <br />WHEREAS, the Agency assigned its right to receive such <br />base rental payments to First Interstate Bank of California (the <br />"1986 Trustee"); and <br /> <br />WHEREAS, the 1986 Trustee, the Agency and the City have <br />heretofore entered into a Trust Agreement, dated as of July 1, <br />1986 pursuant to which the 1986 Trustee executed and delivered <br />certificates of participation (the "1986 Certificates") <br />evidencing and representing proportionate interests in such base <br />rental payments; and <br /> <br />. <br /> <br />WHEREAS, the City and the Agency have determined that <br />it would be in the best interests of the City and the Agency to <br />provide for the prepayment of the 1986 Certificates and to <br />finance certain additional public facilities (the "Additional <br />Facilities") through the sale and delivery of not to exceed <br />$18,000,000 certificates of Participation (Parking Facilities <br />Refunding Project), Series 1993A (the "Certificates") evidencing <br />proportionate interests in the base rental payments to be made <br />pursuant to an Amended and Restated Lease/Purchase Agreement, <br />dated as of January 1, 1993 between the City and the Agency <br />(which amends and restates in its entirety the 1986 Lease) (such <br />Amended and Restated Lease/Purchase Agreement, in the form <br />presented to this meeting, with such changes, insertions and <br />omissions as are made pursuant to this Resolution, being referred <br />to herein as the "Lease"); and <br /> <br />WHEREAS, the financing of the Additional Facilities is <br />permitted under the Redevelopment Plan and constitutes a <br />redevelopment activity; and <br /> <br />WHEREAS, the Agency will transfer its rights, title and <br />interest in and to the Lease (other than its rights to <br />indemnification and payment for its costs and expenses to First <br />Interstate Bank of California, as trustee (the "Trustee") for the <br />benefit of the OWners of the Certificates, pursuant to an <br />Assignment Agreement dated as of January 1, 1993, by and between <br />the city and the Trustee (such Assignment Agreement, in the form <br />presented to this meeting, with such changes, insertions and <br />omissions as are made pursuant to this Resolution, being referred <br />to herein as the "Assignment Agreement"); and <br /> <br />WHEREAS, the Trustee will execute and deliver the <br />Certificates pursuant to the terms of a Trust Agreement, dated as <br />of January 1, 1993, by and among the city, the Agency and the <br />Trustee (such Trust Agreement in the form presented to this <br />meeting, with such changes, insertions and omissions as are made <br />pursuant to this Resolution, being referred to herein as the <br />"Trust Agreement"); and <br /> <br />. <br /> <br />LAI-36809.1 <br /> <br />2 <br /> <br />4O!I9O-7-WWS-12I31192 <br />