APIC1989-211009-33 JHHW:BDQ:cbf 06/0?/89 Z4470
06,'19/89
ANAHEIM PUBLIC IMPROVEMENT CORPORATION
RESOLUTION NO. APIC89- 2
A RESOLUTION APPROVING, AUTHORIZING AND DIRECTING
EXECUTION OF CERTAIN INSTALLMENT SALE FINANCING
DOCUMENTS AND AUTHORIZING AND DIRECTING CERTAIN
ACTIONS WITH RESPECT THERETO
RESOLVED, by the Anaheim Public Improvement Corporation (the "Corporation"):
WHEREAS, the City of Anaheim (the "City"), working together with the
Corporation, is proposing to proceed with an installment sale financing of certain public
improvements; and
WHEREAS, in connection therewith, the City proposes to finance the acquisition
of certain recycling equipment (the "Project") and it is in the public interest and for the
public benefit that the Corporation authorize and direct execution of an installment sale
agreement and certain other financing documents in connection therewith; and
WHEREAS, the documents below specified have been filed with the Corporation,
and the Board of Directors of the Corporation, with the aid of its staff, have reviewed
said documents;
NOW, THEREFORE, it is hereby ORDERED and DETERMINED, as follows:
Section 1. The below-enumerated documents be and are hereby approved, and
the President, the Vice President and the Treasurer of the Corporation are hereby
separately authorized and directed to execute and deliver said documents, for and in the
name and on behalf of the Corporation, with such changes, insertions and omissions as
may be approved by such official, such approval to be conclusively evidenced by the
execution of such documents by such official, and the Secretary of the Corporation is
hereby authorized and directed to attest to such official's signature:
(a) an installment sale agreement relating to the financing of the Project,
between the Corporation, as seller, and the City, as purchaser (the "Installment
Sale Agreement");
(b) a trust agreement by and among the Corporation, the City and a
trustee to be selected by the City (the "Trustee"), relating to the financing and the
execution and delivery of certificates of participation evidencing undivided
fractional interests of the owners thereof in installment payments to be made by
the City under the Installment Sale Agreement; and
(c) an assignment agreement by and between the Corporation and the
Trustee, pursuant to which the Corporation will assign certain of its rights under
the Installment Sale Agreement, including its right to receive installment payments
thereunder, to the Trustee.
Section 2. The President, the Vice President, the Treasurer, the Secretary and
other officials of the Corporation are hereby authorized and directed to execute such
other agreements, documents and certificates as may be necessary to effect the
purposes of this resolution and the installment sale financing herein authorized.
Section 3. This Resolution shall take effect upon its adoption.
I hereby certify that the foregoing resolution was duly adopted at a meeting of the
Anaheim Public Improvement Corporation held on the 27th day of June, 1989, by the
following vote:
AYES, and in favor of, Directors:
NOES, Directors:
ABSENT, Directors:
Daly, Ehrle, Kaywood and Hunter
None
Pickler
ATTEST
Secretary
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