HomeMy WebLinkAbout2005-002 SAFA
RESOLUTION NO. SAFA 2005-002
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 (the "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
adjacent to 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 determined (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. Resolution No. SAFA 2005-001 previously adopted by the Board on
February 7, 2005, relating to the financing of the Improvements is hereby rescinded.
Section 3. 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
Resolution No. SAFA 2005-002
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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 Lease Agreement, including its right to receive lease payments
thereunder, to the Assignee.
Section 4. 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 5. This Resolution shall take effect upon its adoption by the Authority
Board, and the Secretary shall attest to and certify the vote adopting this Resolution.
ADOPTED this 20th day of June, 2005.
ARM:
etcher, Au ority Counsel
NOES:
Authoritymembers: Alvarez. Bist Christv. Bustamante. Garcia. Pulido.
Solorio (7)
Authoritymembers: None (0)
Authoritymembers: None (0)
ABSTAIN:
NOT PRESENT: Authoritymembers: None (0)
CERTIFICATION OF ATTESTATION AND ORIGINALITY
I, PATRICIA E. HEALY, Secretary of the Authority, do hereby attest to and certify
the attached Resolution No. SAFA 2005-002 to be the original a resolution duly
adopted by the Santa Ana Financing Authority on the 20th day of June, 20 .
Date:
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Authority Secretary
Resolution No. SAFA 2005-002
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