88-18711009-27 JHHW:BDQ:Kla 05/02/88 Z3492
RESOLUTION NO. 88R- 187
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ANAHEIM
APPROVING THE FORM AND AUTHORIZING EXECUTION OF A SIXTH
AMENDMENT TO FACILITY LEASE BETWEEN THE COMMUNITY
CENTER AUTHORITY AND THE CITY AND AUTHORIZING AND
DIRECTING CERTAIN ACTIONS WITH RESPECT THERETO
WHEREAS, the City of Anaheim (the "City") and the Anaheim Union High School
District have heretofore executed a Joint Exercise of Powers Agreement, dated as of
March 1, 1965, establishing the Community Center Authority (the "Authority"), and have
amended said agreement from time to time; and
WHEREAS, the Authority and the City have heretofore entered into a lease
entitled "Community Center Facility Lease," dated as of May 1, 1965 (the "Original
Lease"), recorded on June 28, 1965, in the office of the County Recorder of Orange
County, California under Recorder's Serial No. 22981 of Official Records, in connection
with the issuance by the Authority of its Revenue Bonds, Series A (the "Series A Bonds");
WHEREAS, the Authority and the City have heretofore entered into an amendment
to the Original Lease entitled "First Amendment to Community Center Facility Lease,"
dated as of August 1, 1972, in connection with the issuance by the Authority of its
Revenue Bonds, Series B (the "Series B Bonds");
WHEREAS, the Authority and the City have heretofore entered into a second
amendment to the Original Lease entitled "Second Amendment to Community Center
Facility Lease," dated as of April 1, 1979, in connection with the issuance by the
Authority of its Revenue Bonds, Series C (the "Series C Bonds");
WHEREAS, the Authority and the City have heretofore entered in additional
amendments to the Original Lease for other purposes;
WHEREAS, the Authority has applied to Standard & Poor's Corporation ('S&P")
for credit ratings on the Series A Bonds, the Series B Bonds and the Series C Bonds and
S&P has assigned its credit rating of "A-' to the Series A Bonds, the Series B Bonds and
the Series C Bonds;
WHEREAS, S&P has indicated to the Authority that it is possible that the credit
rating on the Series A Bonds, the Series B Bonds and the Series C Bonds could be
increased if, in addition to other things, certain provisions of the Original Lease, relating
to insurance matters, were amended to more closely reflect the current insurance
requirements of S&P in connection with the rating of bonds similar to the Series A Bonds,
the Series B Bonds and the Series C Bonds;
WHEREAS, the Authority and the City propose to execute a sixth amendment to
the Original Lease to satisfy current insurance requirements of S&P; and
WHEREAS, the document specified below has been filed with the City, and the
members of the City Council, with the aid of the City staff, have reviewed said document;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Anaheim
as follows:
Section 1. That certain Sixth Amendment to Community Center Facility Lease, by
and between the Authority and the City, further amending the terms and conditions of
the Original Lease, as amended, by and between the Authority and the City, be and is
hereby approved, and the Mayor, the City Manager and the Finance Director are hereby
separately authorized and directed to execute and deliver said document for and in the
name and on behalf of the City, substantially in the form presented to this City Council at
this meeting, together with such changes, insertions and omissions as may be approved
by such official, such approval to be conclusively evidenced by the execution of such
document by such official, and the City Clerk is hereby authorized and directed to attest
to such official's signature.
Section 2. The Mayor, the City Manager, the Finance Director, the City Clerk and
all other appropriate officials of the City are hereby authorized and directed to execute
such other agreements, documents and certificates as may be necessary to effect the
purposes of this resolution.
Section 3. This Resolution shall take effect upon its adoption by this City Council.
I hereby certify that the foregoing resolution was duly adopted at a meeting of the
City Council of the City of Anaheim duly held on the loth day of May, 1988.
CITY OF ANAHEIM
Mayor
[S e A L]
ATTEST:
City Clerk'
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STATE OF CALIFORNIA
COUNTY OF ORANGE
CITY OF ANAHEIM
SS.
I, LEONORA N. SOHL, City Clerk of the City of Anaheim, do hereby certify that
the foregoing Resolution No. 88R- 1~;~7 was introduced and adopted at a regular meeting
provided by law, of the City Council of the City of Anaheim held on the 10th day of May,
1988, by the following vote of the members thereof:
AYES: COUNCIL MEMBERS: Ehrle, Hunter, Kaywood, Pickler and Bay
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
AND I FURTHER certify that the Mayor of the City of Anaheim signed said
Resolution No. 88R-I~ on the [o'¢~ day of /J,'~.y' ,1988.
/
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the
City of Anaheim this ¢'o~¢t day of /¢~A/V' ,1988.
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. 88R- I ~/duly passed and adopted by the
Anaheim City Council on May 10, 1988.
City Clerk
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