HomeMy WebLinkAbout83-161 Not Adopted$$SOLUTION NO. 83-161
A RESOLD ION OF THE CITY COUNCIL OF THE CITY OF
SANTA MA APPROVING AND AUTHORIZING EXECUTION OF
AN IN NTURE OF TRUST AND A LOAN AGREEMENT,
AWA NG THE SALE OF BONDS (C.M. THEATER
PR CT), AND AUTHORIZING CERTAIN ACTIONS
RE TING AND
J0
A
or
WHEREAS, this Council has passed and adopted Ordinance No.
NS -1609 (th "Ordinance"), which authorizes the City to issue
its industr al development revenue bonds, pursuant to the City
Charter, r the purpose of providing financing for the
acquisit' n, construction and improvement of industrial and
commerci 1 facilities within the City; and
EREAS, this Council has heretofore, by Resolution No. 83-
0 129, ntitled "A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANT ANA AUTHORIZING THE ISSUANCE OF BONDS FOR THE PURPOSE OF
2 FIN CING THE ACQUISITION AND CONSTRUCTION AND REHABILITATION
OF COMMERCIAL BUILDING AND RELATED FACILITIES BY C.M.
T ATER" expressed its intent to issue Bonds in an amount not
exceed $10,000,000 to finance the acquisition and
onstruction and rehabilitation of a commercial facility to be
located at 324 West Fourth Street, Santa Ana (the "Project")
for a California general partnership (the "Partnership"); and
WHEREAS, there have been presented to this Council certain
agreements and related documents pertaining to the issuance and
sale of, the security for and the use of proceeds of the City's
Industrial Development Revenue Bonds, Series 1983 (C.M. Theater
Project) (the "Bonds"); and
WHEREAS, this Council has reviewed such agreements and
related documents; and
WHEREAS, the issuance, sale and delivery of the Bonds will
further the public purposes of the City as set forth in the
Ordinance, and approval of said agreements and related
documents will be in the public interest and for the public
benefit; and
WHEREAS, this Council has held a public hearing on the
question of whether the City should issue the Bonds, and all
persons wishing to be heard on such question have been heard;
and
Resolution No. 8'61
Page two
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Santa Ana that:
1. The following documents (each in the form submitted _
to this Council or in such form together with such changes
therein, not adverse to the City, as shall be approved by Bond
Counsel and the City Attorney, such approval to be conclusively
evidenced by the execution thereof as authorized herein) be and
they are hereby approved, that the Mayor or his designee be and
is hereby authorized to execute and deliver each such document,
and that the Clerk of the Council is hereby authorized to affix
the seal of the City to each such document, as may be required
thereby, and to attest the execution thereof:
(i) Indenture of Trust, dated as of December 1,
1983, between as
Trustee (the "Trustee") and the City (the
"Indenture"); and
(ii) Loan Agreement, dated as of December 1, 1983,
between the City and the Partnership.
2. The Bonds shall be sold to at
par value in the principal amount of
3. The Mayor, the Clerk of the Council, the City Manager
and the Director of Finance and each of them, acting alone, are
hereby severally authorized to execute such certificates,
agreements and other closing documents as are necessary or
customary for the consummation of the transactions contemplated
by the documents enumerated in Section 1 of this Resolution.
ADOPTED, this day of , 1983.
Robert Luxembourger, Mayor
Resolution No.
Page three
ATTEST:
83-61
Janice C. Guy, Clerk of the Council
COUNCILMEMBERS:
Luxembourger
Griset
Acosta
Bricken Approved as to form:
Johnson
McGuigan
Young
EdwaM4 J oop r,
City Attorne