HomeMy WebLinkAboutOrdinance No. 1334 ORDINANCE NO. 1334
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
BUENA PARK, CALIFORNIA, APPROVING THE PUBLIC LEASE
BACK OF CERTAIN FACILITIES WITH THE COUNTYWIDE
PUBLIC FINANCING AUTHORITY
THE CITY COUNCIL OF THE CITY OF BUENA PARK DOES ORDAIN AS
FOLLOWS:
Section 1. Approval of Entering into Lease. Pursuant to section 54241 of the
California Government Code, the City of Buena Park is hereby authorized to enter into a
formal agreement with the Countywide Public Financing Authority with respect to the public
leaseback of certain facilities and the real property on which such improvements are situated,
more particularly described in Exhibit A attached hereto, so long as the principal amount of the
Lease Agreement does not exceed $3.6 million , so long as the maximum annual lease
payments to be made by the City does not exceed $475,000 and so long as the term of the
Lease Agreement does not exceed 20 years. This ordinance is subject to the provisions for
referendum applicable to the City of Buena Park. This ordinance shall be published in the
manner required by law for ordinances of the City of Buena Park generally.
Section 2. Effective Date. This ordinance shall not become effective or be in force
until thirty (30)days from and after the date of its adoption, and shall be published at least once
in full in the Buena Park Independent , a newspaper of general circulation published in the
City of Buena Park within 15 days after its adoption.
ADOPTED AND APPROVED this 17tklay of June , 1996.
ayor
ORDINANCE NO. 1334
Page 2
I, ALCENE M. CAIN, City Clerk of the City of Buena Park, do hereby certify that the
foregoing Ordinance was introduced at a regular meeting of the City Council of the City of
Buena Park held on the 17 day of June , 1996, and was finally passed at a regular
meeting of the City Council of the City of Buena Park held on the 17th day of June
1996, by the following vote:
AYES: Griffin, Bone, Brown, Sigler, Marshall
NOES: None
1
ABSENT: None
ABSTAIN: None
ATTEST:
City Clerk
NO. 1334
Page 3
EXHIBIT A
DESCRIPTION OF LEASED PROPERTY
Boisseranc Park, a 19.8 acre multi purpose park bordered on the north and east by the City
limits, the west by Dale Street and the south by residential homes facing Carnation Drive.
THE FOREGOING INSTRUMENT IS A FULL. TRUE NL
CORRECT COPY OF THE ORIGINAL ON FILE w THIS�OFFicF
ATTEST J
_ 19 /4-
CITY CLERK TI._ CITY OF BUENA PARK, {ALIFORNIA