HomeMy WebLinkAbout1997-001 SAFAQuint&ThimmigLLP 10/24/97
11/13/97
11/20/97
SANTA AiWA FINANCING AUTHORITY
RESOLUTION NO. 9 7-0 01SAFA
RESOLUTION APPROVING, AU'I~ORIZING AND DIRECTING
PREPARATIO~I AND EXECUTION OF CERTAIN LEASE FINANCING
· DOGUM~S'AND AUTHOI~7.~NG AND DIRECTING CERTAIN
.~' ~,~w'~ ~ ACTION~ WITH RESPECT THERETO
RESOLVED, by the Board ob~)irectors (the "Board") of the Santa Ana Financing
Authority (the "Authority"), as follows:~
WHEREAS, the City of Santa Aha (the "City"), working together with the Authority, is
proposing to proceed with a lease finandng;
WHEREAS, in connection therewith, the City proposes to finance the costs of the
construction, installation and equipping of certain capital improvements within the geographic
boundaries of the City and it is in the public interest and for the public benefif that the
Authority authorize and direct execution of the Lease Agreement and certain other financing
documents in connection therewith;
WHEREAS, the documents below specified shall be filed 'with the Authority and the
members of the Board, with the aid of its staff,.shall review said documents;
NOW, THEREFORE, it is hereby ORDERED and DETERMINED, as follows:
Section 1. The below-enumerated documents, substantially in the forms on file with the
Secretary, be and are hereby approved, and the Chairman, the Executive Director or the
Treasurer is hereby authorized and directed to execute said documents, with such changes,
insertions and omissions as may be approved by such official and the Secretary is hereby
authorized and directed to attest to such official's signature:
(a) a site and facility lease, between the City, as lessor, and the Authority, as lessee;
(b) a lease agreement, between the Authority, as lessor, and the City, as lessee (the
"Lease Agreement");
(c) an assignment agreement, by and between the Authority and Harris Trust Company
of California, as trustee (the "Trustee"), pursuant to which the Authority will assign certain of
its rights under the Lease Agreement, including its right to receive lease payments thereunder, to
the Trustee; and
(d) a trust agreement, by and among the Authority, the City and the Trustee, relating to
the financing and the execution and delivery of certificates of participation evidencing the
direct, undivided fractional interests of the oWners thereof in lease payments to be made by the
City under the Lease Agreement.
Section 2. The Chairman, the Executive Director, the Treasurer, the Secretary and other
officials of the Authority are hereby authorized and directed to execute such other agreements,
.19014.02
RESOLUTION 97-001 SAFA
documents and certificates as may be necessary to effect the purposes of this resolution and the
lease financing herein authorized.
Section 3. This Resolution shall take effect upon its adoption by the Board.
PASSED, APPROVED AND ADOPTED this 15th day of December, 1997.
kan, Santd _A~.a_Fmahdng Authority
~'~'~el A. Pulido
~ec{'etary, Santa Aha F'man~)~ A6thority
Janice C. Guy
D_AS TO FORM: . .
Directors of the Authority at a meeting thereof on the 15th day of December, 1997, by the
following vote of the members thereof:
AYES: Authority bIembers: Franklin, Lutz, I, IcGuigan, Richardson
NOES: Authority Members: None
ABSTA~: Authority Members: None
ABSENT: Authority Members: Espinoza, Moreno, Pulido
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