Part 1 - Laserfiche WebLink

Home Browse Search

• RESOLUTION NO. 94- 007 RESOLUTION OF THE CITY OF SANTA ANA APPROVING A FORM OF GROUND LEASE, LEASE AND PURCHASE CONTRACT; MAKING CERTAIN DETERMINATIONS RELATING THERETO; AND AUTHORIZING CERTAIN OTHER ACTION IN CONNECTION THEREWITH WHEREAS, the City of Santa Ana (the "City") is a municipal corporation duly organized and validly existing under the Constitution and laws of the State of California and authorized to transact business and exercise its powers, all under and pursuant to the Constitution and laws of the State of California; and WHEREAS, the City and the City of Santa Ana Financing Authority (the "Authority") , a joint powers authority, duly organized and existing under the laws of the State, propose to enter into various agreements to provide for the acquisition and construction of certain police facilities (the "Project") , and so that the City may act, under certain circumstances, as the agent of the Authority to carry out the acquisition and construction of the Project; and WHEREAS, there has been presented at this meeting a form of Lease pursuant to which the City will acquire the Project, subject to the terms thereof; and WHEREAS, to assist the provision of funds for the construction and improvement of the Project, the City has determined to lease certain real property to the Authority pursuant to a form of Ground Lease presented to this meeting, and to sublease such property and the Project to be located on a portion thereof back from the Authority pursuant to the previously mentioned Lease; and WHEREAS, there has also been presented to this meeting a proposed form of Purchase Contract between the City, the Authority and Smith Barney Shearson Inc. , as representative of the underwriters named therein, (the "Underwriter") , under the terms of which the Underwriter will purchase the Authority' s Police Administration and Holding Facility Lease Revenue Bonds , Series 1994A (the "Bonds") , the proceeds of which will be used to finance the Project; NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED BY THE CITY OF SANTA ANA AS FOLLOWS: SECTION 1. Approval of Ground Lease. The form of Ground Lease, dated as of March 1, 1994 , by and between the City and the Authority (the "Ground Lease") presented at this meeting is hereby approved and the Mayor of the City, the City Manager, or the designee of the Mayor or the City Manager, acting singly, L 1-63373.i 40990-9-WWB-02103194