Loading...
1985-241RESOLUTION NO. 85R.-241 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ANAHEIM TRANSFERRING 1985 PRIVATE ACTIVITY BOND LIMIT TO THE INDUSTRIAL DEVELOPMENT AUTHORITY OF ANAHEIM (RUBS BERRIE PROJECT). WHEREAS, pursuant to Section 103(n) of the Internal Revenue Code of 1954, as amended, there are authorized to be issued within the State of California (the "State") in any calendar year an amount of Private Activity Bonds (as defined in said Section 103[n]) not exceeding in aggregate principal amount the statewide limit determined as set forth in said Section 103(n); and WHEREAS, the Governor of the State of California on June 19, 1984, issued a Proclamation (the "Proclamation") implementing the provisions of said Section 103(n), pursuant to which a portion of said statewide limit is allocated to each city in the State based on the estimated population of such city; and WHEREAS, the City of Anaheim, California (the "City") has determined that the portion of said statewide limit allocated to the City for the current calendar year is $12,116,000.00 (the "1985 Private Activity Bond Limit"); and WHEREAS, the Proclamation permits the City to assign to another local agency all or a portion of its 1985 Private Activity Bond Limit by resolution adopted by the City Council, and the Industrial Development Authority of Anaheim (the "Authority") has requested the City to assign to it the amount of $2,200,000.00 for the issuance of the Authority's 1985 Industrial Revenue Bonds in regard to the Russ Berrie Project; and WHEREAS, the City Council of the City of Anaheim has heretofore, on December 18, 1984, adopted its Resolution No. 84R-498 allocating $2,500,000.00 of the City's Private Activity Bond Limit for 1984 to the Russ Berrie Project; however, it is necessary to now assign a portion of the City's 1985 Private Activity Bond Limit to the Authority to finance the Russ Berrie Project because said prior allocation has lapsed in that bonds for the Russ Berrie Project were not issued in calendar year 1984; and WHEREAS, the City Council of the City of Anaheim has heretofore, on January 22, 1985, adopted its Resolution No. 85R-44 approving the issuance by the Authority of its bonds for such purpose. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Anaheim as follows: -1- Section 1. Transfer of Private Activity Bond Limit. The amount of X2,200,000.00 representing a portion of the City's 1985 Private Activity Bond Limit, is hereby transferred to the Industrial Development Authority of Anaheim (the "Authority") for issuance of its bonds for the Russ Berrie Project. Such transfer shall be irrevocable upon the adoption of this Resolution provided that if the Authority shall issue its bonds for the Russ Berrie Project in a principal amount less than $2,200,000.00 the amount transferred in excess of the principal amount of bonds so issued shall revert to the City. Section 2. Official Action. The City Clerk is hereby authorized and directed to notify the California Debt Limit Allocation Committee (the "Committee") established by the Proclamation of the assignment made pursuant to Section 1 within fifteen (15) days of the adoption of this Resolution. Section 3. Effective Date. This Resolution shall take effect immediately upon its passage and adoption. THE FOREGOING RESOLUTION is approved and adopted by the City Council of the City of Anaheim this 18th day of June, 1985. i'/' MAYOR OF THE CITY OF ANAHEIM ATTEST :,,. ,,~, .`' ~ CITY CLERK OF THE CITY OF ANAHEIM MES:fm 3738M/157 061285 -2- STATE OF CALIFORNIA) COUNTY OF ORANGE ) CITY OF ANAHEIM ) I. ~FONORA N. SQ~,ity Clerk of the City of Anaheim, do hereby certify that the foregoing Resolution Nog5R-241 was introduced and adopted at a regular ~-- meeting provided by law, of the City Council of the City of Anaheim held on the 18th day of June, 1985, by the following vote of the members thereof: AYES: AUTHORITY MEMBERS: Kaywood, Bay, Fickler, Overholt and Roth NOES: AUTHORITY MEMBERS: None ABSENT: AUTHORITY MEMBERS: None AND FURTHER CERTIFY that the Mayor of the City of Anaheim signed said Resolution No.85R-241 on the 18th day of June, 1985. IN WITNESS WHEREOF, I fiave hereunto set my hand and affixed the seal of the City of Anaheim thisl8th day of June, 1985. ~, ~~~ c-, CITY CLERK OF THE CITY OF ANAH M ~SEAL> 3 e • - ~. ~ .„ REPORT OF ACTION TAKEN WITH RESPECT TO PRIVATE ACTIVITY BONDS CALIFORNIA DEBT LIMIT ALLOCATION COMMITTEE P.O. Box 1919 Sacramento, California 95809 .:~_ (916) 324-0310 Please complete this form within 15 days of taking of any action described below (in Section I•) and mail to the above address. NAME OF ISSUER: CI`T'Y OF AI~IF?'EL4 ADDRESS: 2.C0 South Anahei:~ 31vd. , Ana'~ei*;Z~California 9?_30~ Orange COUNTY CONTACT PERSON: • °IORP'!A'.~I J. PRIEST TITLE: EXF:CU7'Iti'E DIRECTOR TELEPHONE: (714) 999-5100 DATE OF THIS REPORT: I. ACTION TAKEN: (Check one.) A) ISSUANCE OF BONDS (Complete Section II. below.) B) TRANSFER OF ALLOCATION X (Complete Section III. below.) C) CARRYFORWARD ELECTION: , DATE ACTION TAKEN: PRINCIPAL AMOUNT: $ 2, 200, 000.00 NAME OF PRIVATE USER AND/OR DESCRIPTION OF PROJECT: ?US:S BERRSE PROJECT II. FOR ISSUANCE OF BONDS: SOURCE OF ALLOCATION: (Check one or more.) ISSUER'S ALLOCATION FOR CURRENT YEAR ` TRANSFER (Name of Donor: ) CARRYFORWARD FROM PRIOR YEAR III. FOR TRANSFER: NAME OF GOVERNMENTAL UNIT TO WHOM ALLOCATION WAS TRANSFERRED : I:~IDUSTFSPI, DFVF7A??D~'NT Ai'T~:ORITY of ANAI-~IM DESCRIBE ANY ~.~MITATIONS ON TRANSFER: ~r~ ~r--F; Fc,~r _^~--F; ngINCIPAr. AN1ot~r_r OF L30NDS ISSUED FOR THE RUSS BFPRIE DROJFCI' IS LESS TEAN $2,200,000,00, '~ 3ALAIVCE SHALL R.P:VERT TO 'I':'E CITY OF A'VAE-?FTl`:. CITY OF Lti. RV City Cler