ARA1981-012RESOLUTION NO. ARA81 -12
A RESOLUTION OF THE ANAHEIM REDEVELOPMENT AGENCY AUTHORIZING INSTALLMENT
SALE FINANCING FOR THE PURPOSE OF PROVIDING FOR THE CONSTRUCTION, DEVELOP-
MENT AND FINANCING OF CERTAIN RETAIL, OFFICE AND MEETING FACILITIES BY
THE MASONIC TEMPLE ASSOCIATION OF ANAHEIM.
RESOLVED, by the Anaheim Redevelopment Agency as follows:
WHEREAS, the Agency is authorized by the Community Redevelopment Law to acquire,
purchase, lease and sell real and personal property for the purposes of redevelop-
ment;
WHEREAS, Masonic Temple Association of Anaheim (the "Developer ") has requested
Agency to enter into an Installment Sale Financing Agreement for the purpose of
providing financing for certain retail, office and meeting facilities to be con-
structed and developed by the Developer within a redevelopment project area of
the Anaheim Redevelopment Agency, and the Agency wishes to induce the Developer
to construct and develop said facilities in the Redevelopment Project Area; and
WHEREAS, it is in the public interest, for the public benefit and in furtherance
of the public purposes of the Agency that the Agency authorize said Installment
Sale Financing for the aforesaid purposes;
NOW, THEREFORE, IT IS HEREBY FURTHER DETERMINED and ORDERED as follows:
1. The Anaheim Redevelopment Agency hereby authorizes the entering into of an
Installment Sale Agreement with a seller to be designated in a principal
amount of not to exceed TEN MILLION DOLLARS ($10,000,000) for the purpose
of providing financing to the Developer for the construction and development
of certain retail, office and and meeting facilities (the "Project ") located
at 303 W. Lincoln Avenue in the City of Anaheim.
2. The entering into of said Installment Sale Agreement shall be upon such terms
and conditions as may be mutually agreed upon by the Agency, the Developer
and the Seller and shall be subject to completion of proceedings for the
entering into of said Agreement by the Agency.
3. The not to exceed $10,000,000 principal amount of said Installment Sale
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 Agency hereby finds that the Installment Sale Agreement as more particu-
larly described herein is a substantial inducement to the Developer to construct
the project and that said project shall further the public and redevelopment
purposes of the Agency.
THE FOREGOING RESOLUTION is approved and adopted by the Anaheim Redevelopment
Agency the 19th day of May , 1981.
ATTEST: /
CHAIRMAN
ANAHEIM REDEVELOP NT AGENCY
SECRETARY
ANAHEIM REDEVELOPMENT AGENCY
STATE OF CALIFORNIA )
COUNTY OF ORANGE )
CITY OF ANAHEIM )
I, LINDA D. ROBERTS, Secretary of the Anaheim Redevelopment Agency, do
hereby certify that the foregoing Resolution No. ARA81 -12 was passed and
adopted at a regular meeting of the Anaheim Redevelopment Agency held on
the 19th 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 19th day of May, 1981.
IN WITNESS WHEREOF, I have hereunto set my hand and seal this 19th day of
May, 1981.
SECRETA Y OF THE ANAHEIM REDEVELOPMENT AGENCY
(SEAL)