My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
2005-010
Clerk
>
Resolutions
>
CITY COUNCIL
>
2000 - 2010
>
2005
>
2005-010
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
1/3/2012 12:27:49 PM
Creation date
2/15/2005 11:00:16 AM
Metadata
Fields
Template:
City Clerk
Doc Type
Resolution
Doc #
2005-010
Date
2/7/2005
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
5
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
<br />(JWF, 1/26/05) <br /> <br />RESOLUTION NO. 2005-010 <br />A RESOLUTION APPROVING THE FORM OF AND <br />AUTHORIZING THE EXECUTION AND DELIVERY OF A <br />PURCHASE AND SALE AGREEMENT AND RELATED <br />DOCUMENTS WITH RESPECT TO THE SALE OF THE <br />SELLER'S VEHICLE LICENSE FEE RECEIVABLE FROM <br />THE STATE; AND DIRECTING AND AUTHORIZING <br />CERTAIN OTHER ACTIONS IN CONNECTION <br />THEREWITH. <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS <br />FOLLOWS: <br /> <br />Section 1. The City Council of the City of Santa Ana hereby finds, determines <br />and declares as follows: <br /> <br />A. <br /> <br />E. <br /> <br />B. <br /> <br />Certain public agencies within the State of California (the "State") are <br />entitled to receive certain payments payable by the State to each such <br />local agency on or before August 15, 2006, in connection with vehicle <br />license fees pursuant to Section 10754.11 of the California Revenue and <br />Taxation Code ("VLF Gap Repayments"); <br /> <br />The City of Santa Ana (the "Seller") is entitled to and has determined to <br />sell all right, title and interest of the Seller in and to the "VLF Receivable", <br />as defined in Section 6585(i) of the California Government Code (the "VLF <br />Receivable"), namely, the right to payment of moneys due or to become <br />due to the Seller out of funds payable in connection with vehicle license <br />fees to a local agency pursuant to Section 1 0754.11 of the California <br />Revenue and Taxation Code; <br /> <br />C. <br /> <br />The California Statewide Communities Development Authority, a joint <br />exercise of powers authority organized and existing under the laws of the <br />State (the "Authority"), has been authorized pursuant to Section 6588(w) <br />of the California Government Code to purchase the VLF Receivable; <br /> <br />D. <br /> <br />The Authority desires to purchase the VLF Receivable and the Seller <br />desires to sell the 'VLF Receivable pursuant to a purchase and sale <br />agreement by and between the Seller and the Authority in the form <br />presented to this City Council (the "Sale Agreement") for the purposes set <br />forth herein; <br /> <br />In order to finance the purchase price of the VLF Receivable from the <br />Seller and the purchase price of other VLF Receivables from other local <br /> <br />Resolution No. 2005-010 <br />Page 1 of 5 <br />
The URL can be used to link to this page
Your browser does not support the video tag.