RES-1989-28311009-33
JHHW:BDQ:cbf 06/07/89
06/19/89
Z4444
CITY OF ANAHEIM
RESOLUTION NO. 89R- 2 8 3
A RESOLUTION PROVIDING PRELIMINARY APPROVAL OF EXECUTION AND
DELIVERY OF INSTALLMENT SALE AGREEMENT FOR THE PURPOSE OF
PROVIDING FINANCING FOR CERTAIN RECYCLING EQUIPMENT
RESOLVED, by the City Council of the City of Anaheim, California (the "City"), as
follows:
WHEREAS, the City is authorized pursuant to the California Government Code to
execute and deliver installment sale agreements for the purpose of providing financing
for facilities located within the City;
WHEREAS, Anaheim Disposal, Inc. (the "Company") has applied to the City to
execute and deliver its installment sale agreement for the purpose of providing financing
for the acquisition of certain recycling equipment to be located within the City, which
equipment is described in Exhibit "A" attached hereto and by this reference incorporated
herein (the "Project"), and the City wishes to induce the Company to acquire the Project
for use within the City; and
WHEREAS, it is in the public interest, for public benefit and in furtherance of the
public purposes of the City that the City Council provide preliminary approval of the
execution and delivery of an installment sale agreement for the aforesaid purposes;
NOW, THEREFORE, it is hereby FOUND, DETERMINED and ORDERED as follows:
Section 1. The City hereby preliminarily approves the execution and delivery of an
installment sale agreement of the City pursuant to the California Government Code in a
principal amount of not to exceed $12,000,000, for the purpose of providing financing to
the Company for the acquisition of the Project.
Section 2. The City hereby determines that it will take all action necessary or
advisable in connection with the execution and delivery of said installment sale
agreement and the execution of the financing agreements for the Project.
Section 3. The installment sale agreement shall be a special obligation of the City
payable solely from the sources described therein, and shall not constitute an
indebtedness of the City or a loan of credit thereof within the meaning of any
constitutional or statutory provisions.
Section 4. The execution and delivery of the installment sale agreement shall be
upon such terms and conditions as may be mutually agreed upon by the City, the
Company and the purchasers of certificates of participation relating thereto and shall be
subject to completion of proceedings therefor by the City.
Section 5. The proceeds of certificates of participation relating to the installment
sale agreement shall include such related and necessary delivery costs, administrative
expenses, purchase payment reserves and interest payments as may be required to
accomplish the financing successfully.
Section 6. The City Council hereby finds that the execution and delivery of an
installment sale agreement as described herein is a substantial inducement to the
Company to acquire the Project for use within the City and that the Project will further
the public purposes of the City.
THE FOREGOING RESOLUTION is approved and adopted by the City Council of
the City of Anaheim this 27th day of June, 1989.
~VIAYOR OF THE~~
Al-I-EST:
CITY CLERK OF THE CITY OF ANAHEIM
-2-
CLERK
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 Resolution No. 89R-283 was introduced and adopted at a regular
meeting provided by law, of the City Council of the City of Anaheim held on
the 27th day of June, 1989, by the following vote of the members thereof:
AYES'
COUNCIL MEMBERS' Daly, Ehrle, Kaywood and Hunter
NOES'
COUNCIL MEMBERS' None
ABSENT' COUNCIL MEMBERS' Pickler
AND I FURTHER certify that the Mayor of the City of Anaheim signed said
Resolution No. 89R-283 on the 28th day of June, 1989.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the
City of Anaheim this 28th day of June, 1989.
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 Resolution No. 89R-283 duly passed and
adopted by the Anaheim City Council on June 27, 1989.
CITY CLERK OF THE CITY OF ANAHEIM
EXHIBIT A
DESCRIPTION OF PROJECT
A. Automated Collection Barrels. Each of 50,000 single-family homes will receive two
barrels, one green, for all recyclable materials, and one black, for all non-recyclable
materials. Total requirements are 100,000 barrels, at $67.00 per barrel, totaling
$6,700,000.
B. Automated Collection Trucks. Total requirements are 24 trucks, at $150,000 per
truck, totaling $3,600,000.