ARA1981-0101 10. AI�ASI- 10
A RESOLUTIO v OF TI Ii, ANAHEI"A' R.LDLVELOPIIENT
AGENCY STATING ITS ILATE 'ZION TO ESTABLISsl
A MARS HISTORICAL I'.EI A I ILI`LIATIOt P, OGIY Z
ISSUE RI IIAI IL
AND TO ISSUE I LPTI01� IIOTLS FOI
CEP T!?.IN HISTORIC PROPERTIES IN TILL, CITY
OF ANAP.EI1 , A` D TO RL;TAIN B011 COUNSLL
T"THEREAS, the 1.11HH :IT'1 RLDEVLLOPLMjJ T AG;'IvGY, a public
body, corporate and politic (the "Agency ", sometimes known as
the "Issuer "), is authorized and empowered by the harks
Historical Rehabilitation Act of 1976 (Health L Safety Code
Sections 37600 et seq., herein referred to as the "Act ") to
issue tax - exempt bonds or notes for the purpose of providing
loans for the rehabilitation of structures found by t Agency
to be of historic, architectural and cultural significance to
the Agency and for the purpose of paying the cost of financin;
such loans; and
11HEKEAS, the Agency desires to establish a financiz
program under the Act to facilitate the rehabilitation
financing of significant structures within its jurisdiction;
and
'�'HEPEAS, the Agency anticipates the designation of
the Alpha Project Area as an area within which consideration
is to be given to whether certain buildings are appropriate
for rehabilitation pursuant to the Act (the "Project Area ");
and
VI- TtEREAS, the Act requires the citizens of the Agency
to participate in the historic preservation process; and
T certain property owners and potential
property owners (tile "Borrowers ") in the Project Area have
requested the Issuer to issue and sell its historic rehabili-
tation loan notes pursuant to the provisions of the Lct for
the purpose of financing, the rehabilitation of their
structures (tile "Project ") ; and
^7HERLaAS , the purchasers of file El Camino Bank
building desire to participate in this financing and have
agreed to pay all costs associated with the issuance and sale
of such notes; and
T-THEY "EAS, in order to accomplish the Project, tie
Agency requires the advice and assistance of a qualified. Mond
Counsel.
NOW, THEIREFORE, BE IT RLSOLVED by the ANAhE
kEDEVELOPMEryT AGENCY, as follows:
1. It does hereby declare its intention to under -
take a klarks Historical Rehabilitation Financing Program with
the intention to issue and sell ta-..- exempt historic reliabili-
tation rotes of the Agency under and in accordance with the
Act, in such an amount necessary to pay the cost of the
hereinafter named project and any others hereafter designated,
and upon such terms and conditions as riay be mutually agreed
upon by the Issuer and the Borrowers.
2. The funds generated by each sale of such notes
will be used to finance tile rehabilitation of individual
structures in the Alpria Project ixea for projects involving;
buildings determined by the Issuer to be of historic signifi-
cance to the Issuer.
3. That the use of such tax - exempt loans for the
rehabilitation of historic properties advances a public
purpose by creating employment opportunities, additional
sources of property tax and sales tax revenues, the upgrading
of old structures in the Brea, all of which m.i.ht not occur
were the Agency not to sponsor to <i- exerq:)t loans.
4. The El Camino Bank building, located at the
corner of Old Lincoln Avenue and Claudina Street is founu to
be a structure which is architecturally and historically
significant to the Agency, consistent with the terms of
Marks i ehabilitation Act.
5. The Agency hereby states its intention to issue
a tax - exempt rehabilitation note for Harold Graham and his
associates, as owners, or such other owners as they may exist
at the time the note is sold, of the El Camino bank project,
located at 76 South Claudina Street, in an amount not to
exceed X2,000,000.00. The use of such loan proceeds shall be
consistent with the provisions of the Act and the Redevelop-
ment Agency of the City of Anaheim Historical rehabilitation
Financing Program.
6. Based on earlier review and consideration of
the need and desirabilitv of retaining, the structure, it is
anticipated that the El Camino Bank building; will soon be
designated as an appropriate subject for historic y� reservation
financing; under the Act.
7. All notes issued for ttze E1 Camino rank Project
shall be secured by and made payable from revenues of the
Project. The full faith and credit and the taxing power of
Agency shall not be pledged to the payment of the principal of
or interest on the bonds.
8. The Board of Directors of the Agency or any
person executing; the notes shall not be liable personally on
the bonds or be subject to any ?personal liability or account-
ability by reason of the issuance thereof.
9. All state and local building requirements
applicable to the rehabilitation of structures in the City of
Anaheim shall be satisfied and this bond financing shall not,
in any fashion, modify these requirements.
10. The Executive Director of the Agency is
authorized and directed to prepare or cause to be prepares,
at the Borrower's expense, any and all documentation necessary
to implement the historic rehabilitation program.
11. Wilson Morton Assaf & Mcllligott, Attorneys at
Law, shall be retained by the Agency as its bond counsel for
the El Camino bank Project and to establish the procedures for
historic rehabilitation financings, with their fees chargeable
to the Borrowers and payable exclusively from loan proceeds or
deposits made with the A -encv.
THE FOREGOING RESOLUTION is approved and adopted by
the Pmaheim Redevelopment Agency t lis 5th day of May, 1981.
ATTEST:
5ECRE A=
Ate ,AdiEIM P..EDEVELOP:' E;I Ii AGENCY
' : dh
STATE OF CALIFORNIA )
COUNTY OF ORANGE )
CITY OF ANAHEIM )
I, LINDA D. ROBERTS, Secretary of the Anaheim Redevelopment Agency, do
he certify that the foregoing Resolution No. ARA81 -10 was passed and
adopted at a regular meeting of the Anaheim Redevelopment Agency held on
the 5th day of May, 1981, by the following vote of the members thereof:
AYES: AGENCY MEMBERS: Overholt, Kaywood, Bay, Roth and Seymour
NOES: AGENCY MEMBERS: None
ABSENT: AGENCY MEMBERS: None
AND I FURTHER CERTIFY that the Chairman of the Anaheim Redevelopment
Agency signed said Resolution on the 5th day of May, 1981.
IN WITNESS WHEREOF, I have hereunto set my hand and seal this 5th day of
May, 1981.
SECRET Y OF THE ANAHEfW1 REDEVELOPMENT AGENCY
(SEAL)
ba