1981-470RESOLUTION NO. 81R -470
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF ANAHEIM AUTHORIZING LEASE PURCHASE
FINANCING FOR THE PURPOSE OF PROVIDING FOR THE
CONSTRUCTION, DEVELOPMENT AND FINANCING OF
CERTAIN PARKING AND RELATED FACILITIES BY
HILTON HOTEL /CD INVESTMENT COMPANY
RESOLVED, by the City Council of the City of Anaheim, California, as
follows:
WHEREAS, the City is authorized to acquire and dispose of real and
personal property for the common benefit and in furtherance of its public
purposes;
WHEREAS, Hilton Hotel /CD Investment Company (the "Developer has
requested City to enter into a lease purchase financing agreement for the
purpose of providing for certain parking and related facilities to be
constructed and developed by the Developer within the City, and the City
wishes to induce the Developer to construct and develop said parking and
related facilities; and
WHEREAS, it is in the public interest, for public benefit and in
furtherance of the public purposes of the City that the City authorize said
lease purchase financing for the aforesaid purposes;
NOW, THEREFORE, IT IS HEREBY FOUND, DETERMINED and ORDERED, as follows:
1. The City Council of the City of Anaheim authorizes the entering into
of a lease purchase agreement by and between the City as Lessee and Imperial
Municipal Services Corporation as Lessor in a principal amount of not to
exceed Fifty. Million Dollars ($50,000,000) for the purpose of providing
financing to the Developer for the construction and development of certain
parking and related facilities (the "Project located at that property
bounded on the north by Katella Avenue, on the south by Convention Way, on the
east by Harbor Boulevard and on the west by West Street, in the City of
Anaheim.
2. The entering into of said lease purchase agreement shall be upon
such terms and conditions as may be mutually agreed upon by the City, the
Developer and the Lessor and shall be subject to completion of proceedings for
the entering into of said agreement by the City.
3. The not to exceed $50,000,000 principal amount of said lease
purchase agreement shall include such related and necessary issuance expenses,
administrative costs, reserves and capitalized interest payments as may be
required to accomplish successfully the financing.
4. The City hereby finds that the lease purchase agreement as more
particularly described herein is a substantial inducement to the Developer to
construct the Project and that said Project will further the public purposes
of this City.
The foregoing resolution was passed and adopted by the City Council of
the City of Anaheim, California, at a meeting thereof duly held on the 6th
day of October 1981, by the following vote, to wit:
ATTEST:
AYES, Councilmembers: Overholt, Kaywood, Bay, Roth and Seymour
NOES, Councilmembers: None
ABSENT, Councilmembers: None
Qi1)E
C?ty
2
STATE OF CALIFORNIA
COUNTY OF ORANGE ss.
CITY OF ANAHEIM
I, LINDA D. ROBERTS, City Clerk of the City of Anaheim, do hereby certify that
the foregoing Resolution No. 81R -470 was introduced and adopted at a regular
meeting provided by law, of the City Council of the City of Anaheim held on
the 6th day of October, 1981, by the following vote of the members thereof:
AYES: COUNCIL MEMBERS: Overholt, Kaywood, Bay, Roth and Seymour
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
AND I FURTHER certify that the Mayor of the City of Anaheim signed said
Resolution No. 81R -470 on the 6th day of October, 1981.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the
City of Anaheim this 6th day of October, 1981.
(SEAL)
--C:2
CITY CLERK
C Y C ERK OF THE CITY OF ANAHEIM
I, LINDA D. ROBERTS, City Clerk of the City of Anaheim, do hereby certify that
the foregoing is the original of Resolution No. 81R -470 duly passed and
adopted by the Anaheim City Council on October 6, 1981.