APIC1988-211009-26 JHHW:BDQ:kla 05/04/88 Z3451V
05/13/88
ANAHEIM PUBLIC IMPROVEMENT CORPORATION
RESOLUTION NO. APIC88- 2
A RESOLUTION RESCINDING RESOLUTION NO. ,
APPROVING, AUTHORIZING AND DIRECTING EXECUTION OF
CERTAIN LEASE FINANCING DOCUMENTS, AND AUTHORIZING
AND DIRECTING CERTAIN ACTIONS WITH RESPECT THERETO
RESOLVED, by the Board Directors of the Anaheim Public Improvement
Corporation (the "Corporation"):
WHEREAS, the City of Anaheim (the "City"), working together with the
Corporation, is proposing to proceed with a lease financing; and
WHEREAS, in connection therewith, the City proposes to refinance its obligations
relating to certain parking facilities, as more particularly described in the hereinafter
defined Sublease Agreement (the "Project") and it is in the public interest and for the
public benefit that the Corporation authorize and direct execution of the Sublease
Agreement and certain other financing documents in connection therewith;
WHEREAS, the Board of Directrors has heretofore adopted Resolution No. API¢8'8-1 on
May 10, 1988, authorizing such refinancing on a fixed interest rate basis;
WHEREAS, the City has determined that it is in the best interest of the City to
accomplish such refinancing on a variable interest rate basis in lieu of a fixed interest
rate basis;
APIC88-1
WHEREAS, it is necessary to rescind Resolution No. __!. and
WHEREAS, the documents below specified have been filed with the Corporation
and the members of the Board of Directors, with the aid of its staff, have reviewed said
documents;
NOW, THEREFORE, it is hereby ORDERED and DETERMINED, as follows:
APIC88-1
SECTION 1. Resolution No. , adopted by the Board of Directors on May 10,
1988, is hereby rescinded.
SECTION 2. The below-enumerated documents be and are hereby approved,
and the President or Treasurer is hereby authorized and directed to execute said
documents, with such changes, insertions and omissions as may be approved by such
official, and the Secretary is hereby authorized and directed to attest to such official's
signature:
(a) a lease agreement relating to the Project, by and between the City, as
lessor, and the Corporation, as lessee;
(b) a sublease agreement relating to the Project, between the Corporation,
as sublessor, and the City, as sublessee (the "Sublease Agreement");
(c) a trust agreement, by and among the Corporation, the City and Bank of
America National Trust and Savings Association, Los Angeles, California, as
trustee (the "Trustee"), relating to the refinancing and the execution and delivery of
certificates of participation evidencing the undivided, fractional interests of the
owners thereof in sublease payments to be made by the City under the Sublease
Agreement; and
(d) an assignment agreement, by and between the Corporation and the
Trustee, pursuant to which the Corporation will assign certain of its rights under
the Sublease Agreement, including its right to receive sublease payments
thereunder, to the Trustee.
SECTION 3. The President, Treasurer, 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 lease financing herein authorized.
SECTION 4. This Resolution shall take effect upon its adoption.
-2-
It is hereby certified that the foregoing resolution was duly adopted at a meeting
of the Anaheim Public Improvements Corporation held on the 24th day of May, 1988, by
the following vote:
AYES, and in favor of, Directors:
NOES, Directors:
ABSENT, Directors:
PRESIDEN~--O~TH E ANAHEIM
PUBLIC IMPROVEMENT CORPORATION
ATTEST:
SECRETARY OF THE ANAHEIM
PUBLIC IMPROVEMENT CORPORATION
-3-
CLERK
STATE OF CALIFORNIA )
COUNTY OF ORANGE )
CITY OF ANAHEIM )
SS,
I, LEONORA N. SOHL, Secretary of the Board of Directors of the Anaheim Public
Improvement Corporation, do hereby certify that the foregoing Resolution
No. APIC88-2 was introduced and adopted at a regular meeting provided by law,
of the Board of Directors of the Anaheim Public improvement Corporation held
on the 24th day of May, 1988, by the following vote of the members thereof:
AYES:
COUNCIL MEMBERS: Ehrle, Hunter, Kaywood and Pickler
NOES:
COUNCIL MEMBERS: None
ABSENT:
COUNCIL MEMBERS: None
VACANCY: One
~fD I FURTHER certify that the President of the Board of Directors signed said
Resolution No. APIC88-2 on the 26th day of May, 1988.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the
City of Anaheim this 26th day of May, 1988.
SECRETARY OF THE
ANAHEIM PUBLIC IMPROVEMENT CORPORATION
(S~_L)
I, LEONORA N. SOHL, Secretary of the Anaheim Public Improvement Corporation,
do hereby certify t~at the foregoing is the original of Resolution
No. APIC88-2 duly passed and adopted by the Anaheim Public Improvement
Corporation on May 24, 1988.
SECRETARY OF THE
ANAHEIM PUBLIC IMPROVEMENT CORPORATION