3965ORDINANCE NO. 3965
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
-- ANAHEIM AUTHORIZING THE ISSUANCE OF CONNUNITY
CENTER AUTHORITY REVENUE BONDS, SERIES Cr FOR
THE PURPOSE OF PROVIDING FUNDS FOR THE ACQUISI-
TION, CONSTRUCTION AND FINANCING OF ADDITIONS TO
THE ANAHEIM CONVENTION CENTER FACILITY, AND DES-
IGNATING THE ANTICIPATED SOURCES OF REVENUE THAT
WILL BE PLEDGED TO SECURE SAID REVENUE BONDS.
WHEREAS, pursuant to the provisions of Article 1, Chapter
5, Division 7, Title 1 of the Government Code of the State of
California, as amended, the City of Anaheim (the "City") has hereto-
fore entered into a Joint Exercise of Powers Agreement, as amended
and supplemented (the "Agreement"), with the Anaheim Union High
School District ( the "District") creating the Community Center
Authority (the "Authority"), an agency or public entity separate and
apart from the City and the District; and
WHEREAS, the Authority has power to acquire, construct,
maintain, operate and lease an auditorium and exhibition building for
holding, among other things, fairs or exhibitions for the display of
agricultural, livestock, industrial or other products, exhibitions
and other public meetings and the Authority is authorized, in its own
name, to do all acts necessary for the exercise of its powers; and
WHEREAS, the Authority has the power to issue its revenue
bonds in accordance with the Agreement and the provisions of Article
2, Chapter 5, Division 7, Title 1 of the Government Code of the State
of California (the "Bond Act") to provide funds for the acquisition,
construction and financing of such facilities; and
WHEREAS, the Authority has acquired, pursuant to a lease
between the Authority as lessee and the City as lessor, as amended
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and supplemented (the "Site Lease"), a leasehold interest in certain
real property and has constructed thereon that certain facility known
as the Anaheim Convention Center and has, in accordance with the
Agreement and the Bond Act, issued its Revenue Bonds, Series A, and
Revenue Bonds, Series B, to provide funds for the acquisition, con-
struction and financing thereof; and
WHEREAS, such outstanding Revenue Bonds were issued pursu-
ant to and secured by the Authority's Resolution No. 21, as amended
and supplemented (the "Bond Resolution"), and are payable from cer-
tain funds held in trust under the Bond Resolution for the benefit of
the holders of Revenue Bonds issued thereunder and from revenues of
the Authority from the Anaheim Convention Center, including rentals
received by the Authority under a lease of the Anaheim Convention
Center between the Authority as lessor and the City as lessee, as
amended and supplemented (the "Facility Lease"), which rentals are
designed to be adequate to pay, when due, principal, premium and
interest on such outstanding Revenue Bonds; and
WHEREAS, the City proposes to acquire and to lease to the
Authority, pursuant to an amendment to the Site Lease, certain prem-
ises adjacent to the present Anaheim Convention Center site, and the
Authority proposes to utilize a portion of such premises in connec-
tion with, and proposes to construct, certain additions and improve-
ments to the Anaheim Convention Center, comprised of, in general
terms, a structure (providing approximately 250,000 square feet of
floor space) adjacent to the existing Anaheim Convention Center
designed for auditorium, exhibition, meeting and related uses
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(including, possibly, parking), and certain off - street parking
facilities; and
WHEREAS, this City Council has determined that the public
interest and necessity require the acquisition of such premises and
the construction of such additions and improvements by the Authority;
and
WHEREAS, the Authority proposes to issue, in accordance
with the Agreement and the Bond Act, its Revenue Bonds, Series C, to
provide funds for the acquisition, construction and financing of such
premises, additions and improvements, such Revenue Bonds, Series C,
to mature on or before August 1, 2011 and to be issued in an aggre-
gate principal amount not exceeding $10,000,000; and
WHEREAS, such Revenue Bonds, Series C, are proposed to be
issued pursuant to and secured by the Bond Resolution and to be pay-
able from funds held in trust under the Bond Resolution for the bene-
fit of the holders of Revenue Bonds issued thereunder and from reve-
nues of the Authority from the Anaheim Convention Center, including
rentals received by the Authority from the City under an amendment to
the Facility Lease, with the rentals under the Facility Lease, as so
amended, being designed to be adequate to pay, when due, principal,
premium and interest on the now outstanding Revenue Bonds and the
Revenue Bonds, Series C; and
WHEREAS, in accordance with the Bond Act, the exercise by
the Authority of its power to issue revenue bonds is subject to the
authorization of such issuance by each of the City and the District
pursuant to ordinance; and
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,.� WHEREAS, the Authority proposes to issue, in accordance
with the Agreement and the Bond Act, at a date after the issuance of
its Revenue Bonds, Series C, its Revenue Bonds, Series D, to provide
funds for the acquisition, construction and financing of such prem-
ises, additions and improvements, such Revenue Bonds, Series D, to
mature on or before August 1, 2011 and to be issued in an aggregate
principal amount not exceeding the amount by which $30,000,000
exceeds the aggregate principal amount the original issue of Revenue
Bonds, Series C, by the Authority; and
WHEREAS, such Revenue Bonds, Series D, are proposed to be
issued pursuant to and secured by the Bond Resolution and to be pay-
able from funds held in trust under the Bond Resolution for the bene-
fit of the holders of Revenue Bonds issued thereunder and from reve-
nues of the Authority from the Anaheim Convention Center, including
rentals received by the Authority from the City under a further
amendment to the Facility Lease, with the rentals under the Facility
Lease, as so amended, being designed to be adequate to pay, when due,
principal, premium and interest on the now outstanding Revenue Bonds,
the Revenue Bonds, Series C, and the Revenue Bonds, Series D;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ANAHEIM
DOES ORDAIN AS FOLLOWS:
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1. The issuance by the Authority of Community Center
Authority Revenue Bonds, Series C, in an aggregate principal amount
not to exceed $10,000,000 is hereby authorized.
2. The proceeds from the sale of such Revenue Bonds,
Series C, are authorized to be used for the acquisition, construction
and financing of the premises, additions and improvements described
above.
3. The Revenue Bonds, Series C, and premium and interest
thereon are hereby authorized to be payable from, and secured by,
funds held in trust under the Bond Resolution for the benefit of the
holders of Revenue Bonds issued thereunder and from revenues of the
Authority from the Anaheim Convention Center, including rentals
received by the Authority from the City under the above-described
amendment to the Facility Lease.
4. Pursuant to Section 6547 of the Bond Act, this
Ordinance is subject to the provisions for referendum prescribed by
Section 3751.7 of the Elections Code of the State of California.
5. The City Clerk shall certify to the enactment of this
Ordinance and shall cause notice of the same to be published in
accordance with Section 6040.1 of the Government Code of the State of
California, for five (5) consecutive days within fifteen (15) days of
its adoption, in the Anaheim Bulletin, a daily newspaper of general
circulation, printed, published and circulated in the City, and sixty
(60) days from and after its enactment, it shall take effect and be
in full force, in the manner provided by law.
L
THE FOREGOING ORDINANCE is passed and approved by the City
Council of the City of Anaheim this sixth city o47*bruary, 1979.
EIM
ATTEST:
CIT CLERK OF T E CITY OF ANAHEIM
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) as.
CITY OF ANAHEIM )
I, LINDA.D. ROBERTS, City Clerk of the City of Anaheim, do hereby certify
that the foregoing Ordinance No. 3965 was introduced at a regular meeting of
the City Council of the City.of Anaheim, held on the 30th-day.of January,.1979,
and that the same was duly passed and adopted at a.regular.meeti.ng of'said
City Council held on'. the' 6th- day of .February, . 1979., by the' following vote of the
members thereof:
AYES: COUNCIL MEMBERS: Overholt, Kaywood, Kott, Roth and Seymour
NOES: COUNCIL MEMERS: None
ABSENT: COUNCIL MEMBERS: None
AND I FURTHER CERTIFY that the Mayor'of'the'City-of Anaheim signed said
Ordinance No. 3965 on -the 6th -.day of'Febivary, 1979.
IN WITNESS WHEREOF, I have.hei6unto%set my hand and affixed'.the'official
seal.of the City of'Anaheim this -6th day of'February, 1979.
Of
CITY CLERK OF -THE CI F ANAHEIM
(SEAL)
I, LINDA D. ROBERTS, City Clerk of the City of Anaheim, do hereby certify
that the foregoing is the original Ordinance No. 3965 and was published once in
the Anaheim Bulletin on the 16th day of February, 1979.
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