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ARA1982-004RESOLUTION NO. ARA &2 -4 A RESOLUTION OF THE ANAHEIM REDEVELOPMENT AGENCY AUTHORIZING INSTALLMENT SALE FINANC- ING FOR THE PURPOSE OF PROVIDING FOR THE CONSTRUCTION, DEVELOPMENT AND FINANCING OF CERTAIN THEATER FACILITIES BY KING OF CALIFORNIA, INC. WHEREAS, for the purposes of redevelopment, the Redevelopment Agency is authorized by Health and Safety Code Sections 33341 and 33430 to acquire, purchase and lease and to sell, lease and dispose of real and personal property; and WHEREAS, King of California, Inc. (the "Developer ") has requested Agency to enter into an installment sale financ- ing agreement for the purpose of providing financing for certain theater facilities within the redevelopment project area of the Agency, and the Agency, for the purposes of redevelopment, wishes to induce the Developer to locate said facilities in the redevel- opment project area; and WHEREAS, it is in the public interest, for public benefit and in furtherance of the redevelopment and public pur- poses of the Agency that the Agency authorize said installment sale financing for the aforesaid purposes; and NOW, THEREFORE, BE IT RESOLVED as follows: 1. The Anaheim Redevelopment Agency hereby authorizes the entering into of an installment sale financing agreement with the Agency as Lessee /Purchaser 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 theater facilities (the "Project ") to be located at the north- west corner of Broadway and Philadephia in the City of Anaheim and the entering into of a subsidiary installment sale financing agreement with the Developer as Lessee /Purchaser of the Project. 2. The entering into of said installment sale .financing agreement shall be upon such terms and conditions as may be mutually agreed upon by the Agency, the Developer and the lessor of the Project 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 financing agreement shall include such related and necessary acquisition expenses, administrative costs, reserves and capitalized interest payments as may be required to accomplish successfully the financing. -1- 4. The Agency hereby finds that the installment sale financ- ing agreement as more particularly described herein is a substantial inducement to the Developer to construct the Project and that said Project will further the redevelopment purposes of this Agency. THE FOREGOING RESOLUTION is approved and adopted by the Anaheim Redevelopment Agency this 26th day of JanL3 1982. IM REDEVELOPMSNT AGENCY ATTEST: LINDA D. ROBERTS, SECRETARY O_ IEO O -kc ACTING SECRETARY ANAHEIM REDEVELOPMENT AGENCY MES:fm -2- 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. ARA82 -4 was passed and adopted at a regular meeting of the Anaheim Redevelopment Agency held on the 26th day of January, 1982, 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 26th day of January, 1982. IN WITNESS WHEREOF, I have hereunto set my hand and seal this 26th day of January, 1982. LINDA D. ROBERTS, SECRETARY OF THE ANAHEIM REDEVELOPMENT AGENCY BY �-a !r � ' ACTING SECRETARY (SEAL) lia