RES-2006-166RESOLUTION NO. 2006-166
A RESOLUTION OF THE CITY COUNCII. OF THE CITY OF
ANAHEIM, STATE OF CALIFORNIA APPROVING THE
ISSUANCE OF BONDS BY THE CALIFORNIA STATEWIDE
COMMUNITIES DEVELOPMENT AUTHORITY TO
REIlVIBURSE THE TIGER WOODS LEARNING CENTER
FOUNDATION FOR COSTS INCURRED IN CONNECTION
WITH THE ESTABLIS~IlVIENT OF THE TIGER WOODS
LEARNING CENTER
WHEREAS, the California Statewide Communities Development Authority (the
"Authority") is authorized pursuant to the provisions of California Government Code, Section 6500
et seq. and the terms of an Amended and Restated Joint Exercise of Powers Agreement, dated as of
March 21, 1991 (the "Agreement"), among certain local agencies throughout the State of California,
including the City of Anaheim (the "City"), to issue revenue bonds and other forms of indebtedness
to promote economic development within the State of California; and
WHEREAS, Tiger Woods Learning Center Foundation (the "Corporation"), an
organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, has requested that
the Authority issue revenue bonds in a maximum aggregate principal amount not to exceed
$15,000,000 (the "Bonds") to refinance certain indebtedness of the Corporation and reimburse the
Corporation for certain costs incurred by the Corporation in connection with the acquisition,
construction, improvement,' renovation, furnishing and equipping of the Tiger Woods Learning
Center (the "Facilities"), which is owned and operated by the Corporation and located in the City;
and
WHEREAS, pursuant to Section 147(f) of the Internal Revenue Code of 1986 (the
"Code"), prior to their issuance, the Bonds are required to be approved by the "applicable elected
representative" of the governmental unit on whose behalf such bonds are expected to be issued and
by a governmental unit having jurisdiction over the entire area in which any facility financed or
refinanced by the Bonds is to be located, after a public hearing held following reasonable public
notice; and
WHEREAS, the Facilities to be refinanced are located within the territorial limits of
the City; and
WHEREAS, the members of the City Council are the applicable elected
representatives of the City; and
WHEREAS, there has been published, at least 14 days prior to the date hereof, in a
newspaper of general circulation within the City, a notice that a public hearing regarding the Bonds
would be held on the date hereof; and
WHEREAS, such public hearing was conducted on this date by the City Council, at
which time an opportunity was provided to interested parties to present arguments both for and
against the issuance of the Bonds; and
WHEREAS, it is intended that this Resolution shall constitute the approval of the
issuance of the Bonds required by Section 147(f) of the Code and Section 9 of the Agreement, as
applicable;
NOW THEREFORE, BE IT RESOLVED AND ORDERED by the City Council of
the City of Anaheim as follows:
1. The above recitals are true and correct.
2. The City Council hereby approves the issuance of the Bonds by the Authority.
It is the purpose and intent of the City Council that this resolution constitute approval of the Bonds
for the purposes of Section 147(f) of the Code and Section 9 of the Agreement.
3. The officers of the City, including the City's Finance Director, are hereby
authorized and directed, j ointly and severally, to do any and all things and to execute and deliver any
and all documents which they deem necessary or advisable in order to carry out, give effect to and
comply with the terms and intent of this Resolution and the financing transaction approved hereby.
4. The Clerk of the City Council is hereby directed to forward a certified copy
of this Resolution and a copy of the affidavit of publication of the notice of public hearing to:
Daniel Deaton, Esq.
Nixon Peabody LLP
555 West Fifth Street, 46th Floor
Los Angeles, California 90013
5. This Resolution.shall take effect immediately upon its adoption.
..al4 ~
THE FOREGOING RESOLUTION is approved and adopted by the City Council of
the City of Anaheim this 11 th day of July ,.2006, by the following roll call vote:
AYES: Mayor Pringle, Council Members Sidhu, Hernandez, Galloway, Chaves
NOES: None
ABSENT: None
ABSTAIN: None
CITY OF AHEIM
By
MAYOR OF THE CI F AHEIM
ATTEST:
C LE OF CITY OF ANAI4EIM
62344fwhitd629/06
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