HomeMy WebLinkAbout2005-001 SAFA
JWF 02/01/05
RESOLUTION NO. SA FA 2005-001
RESOLUTION APPROVING, AUTHORIZING AND DIRECTING
PREPARATION AND EXECUTION OF CERTAIN LEASE FINANCING
DOCUMENTS AND AUTHORIZING AND DIRECTING CERTAIN
ACTIONS WITH RESPECT THERETO
BE IT RESOLVED BY THE SANTA ANA FINANCING AUTHORITY AS
FOLLOWS:
Section 1. The Board of Directors (the "Board") of the Santa Ana Financing Authority
finds, determines and declares as follows:
A. The City of Santa Ana (the "City") proposes to finance the costs of the
construction of a parking structure on City-owned property located in th Santa
Ana Civic Center adjacent to City Hall and the proposed State Appellate
Court Building in Santa Ana, California (the "Improvements");
B. The City has determined to finance the Improvements by entering into a site
lease (the "Site Lease") and a lease agreement (the "Lease Agreement") with
the Authority;
C. The Authority intends to assign its rights under the Site Lease and the Lease
Agreement to one or more purchasers to be identified by SunTrust Leasing
Corporation, as placement agent (the "Assignee"); and
D. 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;
Section 2. The below-enumerated documents, substantially in the forms on file
with the Secretary, be and are hereby approved, and the Executive Director 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. The Site Lease, by and between the City, as lessor, and the Authority, as
lessee, pursuant to which the City will lease certain real property (the "Site")
to the Authority;
B. The Lease Agreement, by and between the Authority, as lessor, and the City,
as lessee, pursuant to which the Authority will lease the Site and the
Improvements back to the City; and
C. An assignment agreement, by and between the Authority and the Assignee,
pursuant to which the Authority will assign certain of its rights under the
Resolution No. SAFA 2005-001
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Lease Agreement, including its right to receive lease payments thereunder, to
the Assignee.
Section 3. The Executive Director, the Secretary and other officials of the
Authority are hereby authorized and directed to execute such other agreements,
documents and certificates as may be necessary to effect the purposes of this
resolution and the lease financing herein authorized.
Section 4. This Resolution shall take effect immediately upon its adoption by the
Authority Board, and the Secretary shall attest to and certify the vote adopting this
Resolution.
ADOPTED this ih day of February. 2005.
Miguel A. Pulido
Chairperson
APPROVED AS TO FORM:
Joseph W. F. e her, Authority Counsel
l/
AYES:
Authoritymembers: Christy, Bustamante, Garcia, Pulido. Solorio (5)
NOES:
ABSTAIN:
Authoritymembers: None (0)
Authoritymembers: None (0)
NOT PRESENT: Authoritymembers: Alvarez, Bist (2)
Resolution No. SAFA 2005-001
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CERTIFICATE OF ATTESTATION AND ORIGINALITY
I, PATRICIA E. HEALY, Secretary of the Authority, do hereby attest to and certify
the attached Resolution No. 2005-001 to be the original resolution adopted by the
Santa Ana Financing Authority on February 7. 2005.
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Secretary, Santa Ana Financing Authori
City of Santa Ana
Date:
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