ARA1983-026RESOLUTION NO. ARA8 -26
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF ANAHEIM
AUTHORIZING INSTALLMENT SALE FINANCING FOR THE PURPOSE OF PRO-
VIDING FOR THE ACQUISITION, CONSTRUCTION AND FINANCING OF A
CORPORATE OFFICE BUILDING AND PRODUCTION FACILITY AND THE SALE
OF SUCH OFFICE AND PRODUCTION FACILITY TO THE REDEVELOPMENT
AGENCY OF THE CITY OF ANAHEIM
RESOLVED, by the Anaheim Redevelopment Agency of the City of
Anaheim as follows:
WHEREAS, the Agency is authorized to acquire and dispose of real
and personal property within redevelopment project areas, for purposes of
redevelopment;
WHEREAS, Quality Systems, Inc., a California corporation (the
"Company "), wishes to use in its business a new corporate office building
and production facility, together with the land on which such office
building and production facility will be constructed (such office
building and production facility together with such land being the
"Project ") , located in Project Area Alpha (the "Project Area ") , and has
requested the Agency to aid in the financing of the Project; and
WHEREAS, the Agency has determined that it can best aid in such
financing through the exercise of its power to acquire and dispose of
real and personal property within the Project Area; and
WHEREAS, the redevelopment purposes of the Agency and the
objective of aiding the Company's financing of its acquisition and
construction of the Project can best be served through the Agency's
purchase of the Project pursuant to an installment sale agreement, and
its subsequent sale of the Project pursuant to a second installment sale
agreement;
FOLLOWS:
NOW, THEREFORE, IT IS HEREBY FOUND, DETERMINED AND ORDERED AS
1. The Agency shall, subject to satisfaction of the conditions
referred to in Paragraph 2 below, enter into an installment sale
agreement (the "First Installment Sale Agreement ") pursuant to which the
Agency shall purchase the Project for a purchase price not to exceed Nine
Million Dollars ($9,000,000), and shall, subject to satisfaction of the
same conditions, enter into a second installment sale agreement (the
"Second Installment Sale Agreement "), pursuant to which the Company shall
purchase the Project from the Agency for a purchase price equal to that
provided for in the First Installment Sale Agreement.
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2. The entering into of the Installment Sale Agreements shall
be upon such terms and conditions as may be mutually agreed upon by the
Agency, the Company, and other parties to the transaction, and shall also
be subject to such hearings as may be required by law and to the
completion of proceedings on the part of the Agency authorizing the
execution of the Installment Sale Agreements and any other documentation
to which the Agency may be a party in connection with the transactions
contemplated hereby.
3. The purchase price provided for in the Installment Sale
Agreements shall include such related and necessary expenses of their
preparation and of the sale of any interests in the purchase payments to
be made by the Agency pursuant to the First Installment Sale Agreement,
administrative costs, reserves and capitalized interest payments as may
be required in order successfully to accomplish the financing.
4. The Agency hereby finds that this Resolution is a
substantial inducement to the acquisition and construction of the Project
and that said Project will further the redevelopment purposes of the
Agency.
The foregoing resolution was passed and adopted by the Anaheim
Redevelopment Agency of the City of Anaheim at a meeting thereof duly
held on the 19th day of July. 1983, by the following vote, to wit:
AYES, Members: Kaywood,Pickler, Overholt, Bay and Roth
NOES, Members: None
ABSENT, Members: None
Chairman
Anaheim Redevelopment Agency
ATTEST: LINDA D. ROBERTS, SECRETARY
Acting Secretary
Anaheim Redevelopment Agency
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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. ARA83 -26 was passed and adopted at a ..,,
regular meeting of the Anaheim Redevelopment Agency held on the 19th day of
July, 1983, by the following vote of the members thereof:
AYES: AGENCY MEMBERS: Kaywood, Pickler, Overholt, Bay and Roth
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 July, 1983.
IN WITNESS WHEREOF, I have hereunto set my hand and seal this 19th day of
July, 1983.
LINDA D. ROBERTS, SECRETARY OF THE ANAHEIM REDEVELOPMENT AGENCY
BY
ACTING SECRETARY
(SEAL)
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