Resolution No. 10204 - Laserfiche WebLink

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RESOLUTION NO. 10204 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BUENA PARK, CALIFORNIA, APPROVING FINANCING PROCEEDINGS FOR THE CITY'S SHARE OF COUNTYWIDE 800 MHz COMMUNICATIONS SYSTEM AND OR TO FINANCE OTHER CAPITAL IMPROVEMENTS WITHIN THE GEOGRAPHIC BOUNDARIES OF THE CITY, APPROVING ISSUANCE OF REVENUE BONDS BY THE COUNTYWIDE PUBLIC FINANCING AUTHORITY FOR SUCH PURPOSE, AND APPROVING RELATED DOCUMENTS AND OFFICIAL ACTIONS RESOLVED, by the City Council (the "Council") of the City of Buena Park (the "City"), as follows: WHEREAS, the City is proceeding to finance its share of the Countywide 800 MHz communications system and or to finance other capital improvements within the geographic boundaries of the city (collectively, the "Project"), and the City has proposed to implement a lease financing for the purpose of raising the funds to finance the Project; WHEREAS, for the purpose of obtaining the moneys required to finance the Project, the City proposes to lease one or more existing real property sites and the buildings thereon (collectively, the "Leased Premises"), to the Countywide Public Financing Authority (the "Authority"), which has been formed for the purpose of assisting the City and other member cities in connection with their financing needs, and to lease the Leased Premises back from the Authority, and the Authority proposes to issue its Countywide Public Financing Authority (Orange County, California) 1996 Revenue Bonds (the "Bonds") which will be secured by rental payments made by the City under such lease and by rental payments to be made by such other member cities under separate leases; and WHEREAS, the Council approves all of said transactions in furtherance of the public purposes of the City, and wishes at this time to take its action approving the issuance and sale of the Bonds and the lease financing to be accomplished thereby; NOW, THEREFORE, it is hereby ORDERED and DETERMINED, as follows: Section 1. Approval of Bonds. The Council hereby approves the issuance of the Bonds by the Authority in the aggregate principal amount of not to exceed $3 million for the purpose, among others of providing funds to enable the City to undertake the Project.