HomeMy WebLinkAboutOrdinance No. 988 ORDINANCE NO. 988
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF BREA
APPROVING THE PUBLIC LEASE BACK OF CERTAIN FACILITIES
WITH THE COUNTYWIDE PUBLIC FINANCING AUTHORITY
THE CITY COUNCIL OF THE CITY OF BREA DOES ORDAIN AS FOLLOWS:
Section 1: Approval of Entering into Lease. Pursuant to section 54241 of the California
Government Code, the City of Brea is hereby authorized to enter into a formal agreement with
the Countywide Public Financing Authority with respect to the public leaseback of certain
facilities and the real property on which such improvements are situated, more particularly
described in Exhibit A attached hereto, so long as the principal amount of the IPnse Agreement
does not exceed $1,300,000, so long as the maximum annual lease payments to be paid by the
City does not exceed $180,000 and so long as the term of the Lease Agreement does not exceed
ten years. This ordinance is subject to the provisions for referendum applicable to the City of
Brea. This ordinance shall be published in the manner required by law for ordinances of the
City of Brea generally.
Section 2. Effective Date. This ordinance shall not become effective or be in force until
thirty (30) days from and after the date of its adoption, and shall be published at least once in
1 full in a newspaper of general circulation published in the City of Brea, within 15 days after its
adoption.
ADOPTED AND APPROVED this 18th day of June , 1996.
Mayor
I, Elaine Capps, City Clerk of the City of Brea, do hereby certify that the foregoing
ordinance was introduced at a regular meeting of the City Council of the City of Brea, held on
the 4th day of June , 1996, and was finally passed at a regular meeting of the City
Council of the City of Brea on the 18th day of June , 1996 by the following vote:
AYES: COUNCIL MEMBERS: Daucher, Perry, Wiser, Parker & Dunlap
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
• ABSTAIN: COUNCIL MEMBERS: None
ATTEST: `l/--,L .r .n cL A-4.
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