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REQUEST FOR I'll "y <br />COUNCIL ACTION ??,q <br />CITY COUNCIL <br />MEETING DATE February 9 1994 <br />TITLE AM?NDM?r To JoIHT POWERS aF <br />AUTHORITY AGREEMENT WITN THE <br />CLERK OF THE COUNCIL USE ONLY <br />ved <br />AsRecammeodetl <br />? AsAmemdetl (?e MinNes) <br />? OrdireoceoolstReaAmg <br />? Ortlioancecm3?tlRead'mg <br />? ImplemeotimgRe971utiom <br />? Set Public Headog For <br />CnnGnuetllo; <br />FILENUMBER(S): rt d rop <br />RECOMMENDED ACTION <br />Direct the City Attorney to prepare, end authorize the Mayor end the Clerk of the <br />Cowcil to execute, an amendment to the Orange Cowty Civic Center Authority <br />Joint Ekercise of Powers Agreement with the Cowty of Orange to convey certain <br />property to the Cowty of Orange end the City of Santa Ana. <br />I 0 <br />Prior to 19fig, the Cowty of Orange end the City of Santa Ana both owned various <br />parcels of reel property in the Civic Center area, In 1966, the cowty end city <br />entered into a joint powers agreement that created the Orange County Civic Center <br />Authority (the "puthority'), aM the Authority became the owner of record of <br />those parcels, The Authority elmulteneously leased those seas parcels beck to <br />the cowty end city for one dollar per year, This made the Authority the nominal <br />owner of the parcels, end the county end city became the Authority's tenants. <br />Since 1966, several parcels of Authority property have been deeded back to the <br />city or the cowty far various reasons. The creation of the Authority wea <br />intended to provide the city and cowty with a financing mechenlea Eor conatruc• <br />tion of public iaprovements in the Civic Center area. The joint powers agreement <br />hoe given the Authority the power to sell bonds, and use the bond proceeds to <br />conetnut public iaproveaenta swh ae City Nell and the County Courthouse, Those <br />improveaents were then leased to the city end cowty, and the rent peynenta have <br />been used to pay off the 6ande, <br />Ae bonds remained outstanding, the Authority hee retained ownership ae security <br />for the bonds, After the bonded indebtedness ie retired and upon request, the <br />Authority deeds the property beck to the city or cowty. <br />??? <br />ca ao