95-041 11009-83 JHHW:BDQ:rhc 03115/95
CITY OF ANAHEIM
RESOLUTION NO. 95R- 41
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ANAHEIM
AUTHORIZING THE PREPARATION AND EXECUTION OF DOCUMENTS
REQUIRED IN CONNECTION WITH A TAXABLE REVOLVING BANK LINE OF
CREDIT AND APPROVING RELATED ACTIONS
RESOLVED, by the City Council of the City of Anaheim, California (the "City"), as
follows:
WHEREAS, it has been determined by the City that it is necessary and desirable to
make moneys available for (a) the payment of the City's 1994 Taxable Note issue in the
event moneys expected to be disbursed from the Orange County Treasurer's pool are not
received in time for the payment of such notes, and (b) for other cash flow requirements of
the City;
WHEREAS, in connection therewith, the City solicited proposals from qualified
lenders to provide a taxable, revolving line of credit to the City;
WHEREAS, the best bid received was from The Industrial Bank of Japan, Limited
(the "Bank"), as set forth in the proposal of such bank, attached hereto as Exhibit A (the
"Proposal");
WHEREAS, in connection with making the taxable, revolving line of credit (the
"Line") available for drawing by the City as needed, it is necessary to approve the
preparation of and authorize execution of certain documents required in connection
therewith;
NOW, THEREFORE, it is hereby determined and ordered, as follows:
Section 1. The Proposal submitted by the Bank is hereby approved.
Section 2. City staff is hereby authorized to cause the preparation of all necessary
documents required in connection with the Line including, but not limited to:
(a) a revolvIng loan agreement between the Bank and the City; and
(b) a collateral security agreement among the City, the Bank and First Interstate Bank
of California, as collateral agent.
Such documents shall be in such final forms as are deemed necessary or advisable by
the City Manager, the Finance Director, the City Treasurer, the Assistant Finance Director,
or the designee of any one of such officials~ upon consultation with Bond Coufisel and the
City Attorney.
Section 3. The City Manager, the Finance Director, the City Treasurer, the Assistant
Finance Director, or the designee of any one of such officials, upon consultation with Bond
Counsel and the City Attorney, is hereby authorized and directed to do any and all things
and take any and all actions which may be necessary or advisable in order to consummate
the lawful consummation of the Line.
The City Manager, the Finance Director, the City Treasuxer, the Assistant Finance
Director, or the designee of any one of such officials, upon consultation with the City
Attorney, is further authorized to enter into an agreement with Iones Hall Hill & White, A
Professional Law Corporation, to act as bond counsel, for these proceedings, in substantially
the form attached hereto as Exhibit B.
Section 4. This Resolution shall take effect from and after its adoption.
The FOREGOING RESOLUTION was approved and adopted by the City Council of
the City of Anaheim this 21st day of March, 1995.
Attest:
City Clerk
-2-
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. 95R-41 was introduced and adopted at a regular meeting provided by law, of the Anaheim City Council
held on the 21st day of March, 1995, by the following vote of the members thereof:
AYES: MAYOR/COUNCIL: Tait, Lopez, Zemel, Feldhaus, Daly
NOES: MAYOR/COUNCIL: None
ABSENT: MAYOR/COUNCIL: None
AND I FURTHER CERTIFY that the Mayor of the City of Anaheim signed said Resolution No. 95R-41 on the
21st day of March, 1995.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City of Anaheim
this 21st day of March, 1995.
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. 95R-41 was duly passed and adopted by the City Council of the City of Anaheim on
March 21, 1995.
CITY CLERK OF THE CITY OF ANAHEIM