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RESOLUTION NO. 2014 -030 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA APPROVING AN AMENDMENT TO THE <br />LEASE AGREEMENT RELATING TO THE FINANCING <br />AND REFINANCING OF THE PARKING STRUCTURE <br />ADJACENT TO THE STATE APPELLATE COURT <br />BUILDING IN SANTA ANA, CALIFORNIA, APPROVING <br />FORM AND AUTHORIZING EXECUTION OF RELATED <br />DOCUMENTS AND APPROVING OFFICIAL ACTIONS <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS <br />FOLLOWS: <br />WHEREAS, the City entered into transactions with the Santa Ana Financing <br />Authority (the "Authority ") in 2007 to finance and refinance the construction of a parking <br />structure adjacent to the State Appellate Court Building in Santa Ana, California (the <br />"Project'); <br />WHEREAS, in connection with the financing of the Project, the City entered into <br />the Lease Agreement, with the original principal amount of $8,470,000; <br />WHEREAS, lease payments made by the City under the Lease Agreement were <br />assigned by the Authority to All Points Public Funding, LLC, now known as Capital One <br />Public Funding, LLC (the "Assignee "), as investor; and <br />WHEREAS, the Assignee has agreed to reduce the interest component of lease <br />payments made under the Lease Agreement to 3.60% from 4.78191203% and to <br />remove the prepayment premium in the event of a prepayment of the principal <br />component of lease payments by the City; <br />NOW, THEREFORE, it is hereby ORDERED and DETERMINED, as follows: <br />Section 1. Findings and Determinations. The City Council hereby finds and <br />determines that the foregoing recitals are true and correct. <br />Section 2. Approval of First Amendment to Lease Agreement. The City Council <br />hereby approves a first amendment to the Lease Agreement, amending and <br />supplementing the Lease Agreement, in the form on file with the Clerk of the Council <br />(the "First Amendment'), together with such additions thereto and changes therein as <br />the Mayor, the City Manager, the Executive Director of Finance, or any designee thereof <br />(the "Designated Officers ") shall deem necessary, desirable or appropriate, the <br />execution of which shall be conclusive evidence of the approval of any such additions <br />and changes. The Designated Officers, each acting alone, are hereby authorized and <br />directed to execute, and the City is hereby authorized and directed to attest to, the final <br />Resolution No. 2014 -030 <br />Page 1 of 3 <br />