93-226TEFRA RESOLUTION
CITY OF ANAHEIM, CALIFORNIA
RESOLUTION NO. 93R-226
RESOLUTION APPROVING AN INSTALLMENT PURCHASE
FINANCING TO BE UNDERTAKEN BY THE CALIFORNIA
STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY TO
BENEFIT CALIFORNIA LUTHERAN HOMES.
RESOLVED, by the City of Anaheim (the "city"), as
follows:
WHEREAS, California Lutheran Homes, a California
~onprofit public benefit corporation (the "Corporation"), has
requested that the California Statewide Communities Development
Authority (the "Issuer") participate in an installment purchase
financing (the "Financing") to finance and refinance certain
acquisition, construction, rehabilitation, remodeling and other
capital projects with respect to certain health care facilities
including the continuing care facility (the "Anaheim Facility")
located within the City which is owned and operated by the
Corporation; and
WHEREAS, in connection with the Financing, the Issuer and
the Corporation will enter into an installment purchase agreement
(the "Purchase Agreement") under which the Corporation will sell
certain real property to the Issuer and the Issuer will agree to
hake payments (the "Installment Payments") to the Corporation for
he purchase thereof; and
WHEREAS, certificates of participation (the
"Certificates") in an aggregate principal amount not to exceed
eighteen million dollars ($18,000,000.00), each representing a
proportionate undivided interest in the Installment Payments, will
be executed, delivered and sold in connection with the Financing;
and
WHEREAS, pursuant to Section 147(f) of the Internal
Revenue Code of 1986 (the "Code"), the Financing and the issuance
of the Purchase Agreement by the Issuer must be approved by the
City because the Anaheim Facility is located within the territorial
limits of the City; and
WHEREAS, the City Council of the City (the "City
Council") is the elected legislative body of the City and is one of
the applicable elected representatives required to approve the
Financing and the issuance of the Purchase Agreement under Section
147(f) of the Code; and
WHEREAS, the Issuer has requested that the City Council
approve the Financing and the issuance of the Purchase Agreement in
order to satisfy the public approval requirement of Section 147(f)
of the Code and the requirements of Section 9 of the Joint Exercise
of Powers Agreement (the "Agreement"), dated as of June 1, 1988,
among certain local agencies, including the City; and
WHEREAS, pursuant to Section 147(f) of the Code, the City
Council has, following notice duly given, held a public hearing
regarding the Financing and the issuance of the Purchase Agreement,
and now desires to approve the Financing and the issuance of the
Purchase Agreement.
NOW, THEREFORE, it is hereby ORDERED AND DETERMINED as
follows:
Section 1. The City Council hereby approves the
~'inancing and the issuance of the Purchase Agreement. It is the
purpose and intent of the City Council that this resolution
constitute approval of the Financing and the issuance of the
Purchase Agreement (and the execution and delivery of the
certificates of participation related thereto) for the purposes of
(a) Section 147(f) of the Code by the applicable elected
representative of the governmental unit having jurisdiction over
the area in which the Anaheim Facility is located, in accordance
with said Section 147(f) and (b) Section 9 of the Agreement.
Section 2. The officers of the City are hereby
authorized and directed, jointly 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
~nd comply with the terms and intent of this resolution and the
inancing transaction approved hereby.
Section 3. This resolution shall take effect immediately
upon its adoption by the City Council, and the City Clerk shall
certify to the vote adopting this resolution.
Section 4. The City Clerk shall forward a certified copy
of this Resolution to the following:
Steven L. Maler, Esq.
Orrick, Herrington & Sutcliffe
777 South Figueroa Street, Suite 3200
Los Angeles, California 90017
The FOREGOING RESOLUTION was approved and adopted by the
city Council of the City of Anaheim this 30th day of November,
1993, by the following vote:
By MAY~ OFf'THE ' Y O~F~EIM
Attest:
CITY CLERK OF THE CITY OF
ANAHEIM
LA 1-60890.1 3
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. 93R-226 was introduced and adopted at a regular meeting provided by law, of the Anaheim City
Council held on the 30th day of November, 1993, by the following vote of the members thereof:
AYES: COUNCIL MEMBERS: Feldhaus, Simpson, Pickler, Hunter, Daly
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
AND I FURTHER CERTIFY that the Mayor of the City of Anaheim signed said Resolution No. 93R-226
on the 1st day of December 1993.
IN WITNESS WHEREOF, have hereunto set my hand and affixed the official seal of the City of
Anaheim this 1st day of December, 1993.
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. 93R-226 was duly passed and adopted by the City Council of the City of
Anaheim on November 30, 1993.
CITY CLERK OF THE CITY OF ANAHEIM