5367A,
CITY OF ANAHEIM ORDINANCE NO. 5367
ORDINANCE OF THE CITY OF ANAHEIM, CALIFORNIA,
APPROVING ENTERING INTO OF THREE LEASEBACK
(INSTALLMENT PURCHASE) AGREEMENTS
WHEREAS, the City of Anaheim (the "City") and the Anaheim
Redevelopment Agency have heretofore entered into a Joint Exercise
of Powers Agreement establishing the Anaheim Public Financing
Authority (the "Authority") for the purpose, among others, of
issuing the Authority's bonds to be used to provide financial
assistance to the City; and
WHEREAS, it has been proposed that the Authority assist
the City in the financing of the acquisition of an interest in a
coal -fueled electric generating unit known as Unit 4 of San Juan
Generating Station and related facilities (the "Facilities"); and
WHEREAS, the City has previously executed and delivered
certificates of participation (the "Certificates") in connection
with the financing of certain improvements (the Combustion Turbine
Peaking Plant and the Public Utilities Building Project) (the
"Projects") to the electric system of the City; and
WHEREAS, it has been determined that due to prevailing
financial market conditions it is in the best interests of the City
to realize interest rate savings by refunding a portion of the
Certificates; and
WHEREAS, it has been proposed that the Authority assist
the City in refunding certain of the Certificates; and
WHEREAS, the Authority and the City have determined that
it is in the best interests of the Authority, the City and the
citizens of the City to authorize the Authority's acquisition of
the Facilities and a portion of each of the Projects and the City's
purchase of such Facilities and such portion of each of the
Projects from the Authority pursuant to certain Installment
Purchase Agreements, each dated as of May 1, 1993, by and between
the City and the Authority (the "Installment Purchase Agreements"),
the proposed forms of which have been presented to this City
Council, pursuant to which the City will agree to make certain
purchase payments (the "Purchase Payments") in connection
therewith; and
WHEREAS, payments by the City pursuant to the Installment
Purchase Agreements will be used in part by the Authority for
payment of the principal of, premium, if any, and interest on
bonds, notes or other indebtedness issued by the Authority to
finance the acquisition of the Facilities and such portion of each
of the Projects.
94601.18
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NOW THEREFORE, the City Council of the City of Anaheim,
California, does ordain as follows:
1. The City hereby approves the entering into by this
City of the Installment Purchase Agreements.
2. Pursuant to Section 54241 of the Government Code of
the State of California, this Ordinance is subject to the
provisions for referendum applicable to the City.
3. This City Council shall certify to the enactment of
this Ordinance and shall cause this Ordinance to be published in
accordance with Section 54242 of the Government Code of the State
of California.
4. Thirty (30) days from and after its enactment, this
Ordinance shall take effect and be in full force, in the manner
provided by law.
ADOPTED by the City Council and signed by the Mayor and
attested by the City Clerk this 11thday of May, 1993.
'ifayor
Attest_:.,
City Clerk
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STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.
CITY OF ANAHEIM )
I, LEONORA N. SOHL, City Clerk of the City of Anaheim, do hereby certify that the foregoing Ordinance No. 5367
was introduced at a regular meeting of the City Council of the City of Anaheim, held on the 4th day of May, 1993,
and that the same was duly passed and adopted at a regular meeting of said City Council held on the 11 th day of
May, 1993, by the following vote of the members thereof:
AYES: COUNCIL MEMBERS: Feldhaus, Hunter, Pickier, Simpson, Daly
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
AND I FURTHER CERTIFY that the Mayor of the City of Anaheim signed said Ordinance No. 5367 on the 12th day
of May, 1993.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City of Anaheim this 12th
day of May, 1993.
CITY CLERK OF THE CITY OF ANAHEIM
(SEAL)
I, LEONORA N. SOHL, City Clerk of the City of Anaheim, do hereby certify that the foregoing is the original of
Ordinance No. 5367 and was published once in the Anaheim Bulletin on the 20th day of May, 1993.
CITY CLERK OF THE CITY OF ANAHEIM