87-140RESOLUTION NO. 87R-140
A RESOLUTION APPROVING THE EXECUTION AND DELIVERY
OF A FIRST INSTALLMENT SALE AGREEMENT
FOR THE PURPOSE OF PROVIDING FINANCING FOR
CERTAIN HEALTH FACILITIES
RESOLVED, by the City Council of the City of Anaheim, California, as
follows:
WHEREAS, the City of Anaheim proposes the execution and delivery of a
First Installment Sale Agreement, dated as of April l, 1987, by and between
California Lutheran Homes, as seller, and the City, as purchaser (the
"Agreement"), for the purpose of providing financing for certain health
facilities;
WHEREAS, Section 147(f) of the Internal Revenue Code of 1986, as
amended requires the City Council of the City, as the duly elected
representative of the City, to approve the execution and delivery of the
Agreement after a public hearing following reasonable notice;
WHEREAS, the City Council has, on the
nearing following duly published notice thereof,
be heard have been heard; and
date hereof, held a public
and all persons desiring to
WHEREAS, it is in the public interest and for the pablic benefit that
the City Council approve the execution and delivery of the Agreement;
NOW, THEREFORE, it is hereby DETERMINED that the execution and
delivery of the Agreement in the maximum aggregate principal amount of
$6,000,000 is hereDy approved for the purpose of providing financing for a
99-bed skilled nursing facility Known as Walnut Manor, to be located at 891
South Walnut Street, Anaheim, California 92802, the initial owner and operator
of which facility will be California Lutheran Homes, a nonprofit corporation
qualified under section 501(c)(3) of the Internal Revenue Code of 1986, as
amended.
THE FOP~EGOING RESOLUTION is
City Council of the City oX Anaheim this 14th
approved and adopted by
day of April, 1987.
MAYOR OF TH~IM
the
ATTEST:
CITY CLERK OF THE CITY OF ANAHEIM
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. 87R-140 was introduced and adopted at a regular
meeting provided by law, of the City Council of the City of Anaheim held on
the 14th day of April, 1987, by the following vote of the members thereof:
AYES: COUNCIL MEMBERS: Pickler, Hunter, Kaywood and Bay
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
VACANCY: COUNCIL MEMBERS: One
AND I FURTHER certify that the Mayor of the City of Anaheim signed said
Resolution No. 87R-140 on the 14th day of April, 1987.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the
City of Anaheim this 14th day of April, 1987.
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. 87R-140 duly passed and
adopted by the Anaheim City Council on April 14, 1987.
'CITY CLERK OF THE CITY OF ANAHEIM