RES-2014-213 RESOLUTION NO. 2014- 213
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ANAHEIM
APPROVING THE ISSUANCE BY THE CITY OF FULLERTON PUBLIC
FINANCING AUTHORITY OF NOT TO EXCEED $36,000,000 AGGREGATE
PRINCIPAL AMOUNT OF REVENUE BONDS TO FINANCE AND
REFINANCE CERTAIN EDUCATIONAL FACILITIES FOR THE
MARSHALL B. KETCHUM UNIVERSITY AND AUTHORIZING OTHER
MATTERS RELATING THERETO
WHEREAS, pursuant to Chapter 5 of Division 7 of Title 1(commencing with
Section 6500) of the Government Code of the State of California, as amended (the "Act"), the
City of Fullerton Public Financing Authority (the "Authority") is authorized to issue revenue
bonds for the purpose of financing the acquisition, construction, reconstruction, and equipping of'
facilities to be used by nonprofit corporations and other entities with purposes serving the public
interest; and
W�-�EREAS, the Marshall B. Ketchum University, a California nonprofi�.
corporation organized and existing under the laws of the State of California, (the "Corporation")
has requested the Authority to issue not to exceed $36,000,000 aggregate principal amount of
revenue bonds (the "Bonds") pursuant to the Act for the purpose of (a) the refinancing
Certificates of Participation (the "Certificates"), currently outstanding in the amount of
$15,435,000, evidencing direct, undivided fractional interests of the owners thereof in purchase
payments to be made by the Redevelopment Agency of the City of Fullerton pursuant to a First
Installment Sale Agreement with the Corporation, which were previously executed and deliveree
on June 2, 2004 for the purpose of financing and refinancing the acquisition, construction,
renovation, improvement, furnishing and equipping of certain educational facilities for the far
the Corporation (the "2004 Project") and (b) the financing of (i) the acquisition, construction,
improvement, renovation, furnishing and equipping of certain educational facilities for the
Corporation and facilities related and appurtenant thereto, consisting of a 80,998 gross square
foot, two story building, located at 5460 East La Palma, Anaheim, California (the "Anaheim.
Project"); (ii) the acquisition, construction, improvement, renovation, furnishing and equipping
of property adjacent to the Campus of the Corporation consisting of existing Fire Station No. 5
located at 2555 Yarba Linda Boulevard, Fullerton, California to be used for the Corporation's
educational purpc�ses; and (iii) the construction and renovation of existing facilities of the
Corporation located on the Cannpus (the " 2Cf 15 Project"l; an��
W��EREAS, pursuant to Seetio�i 147(f} of th�, Internal Revenue Code of 1986 (the�
"Code"), the refinancing of the 2004 Project and the financing of the 2015 Project and the
issuance of the Bonds by the Authority must be approved by the applicable representative of a
governmental unit having jurisdiction over the territory in which the 2004 Project and the 2015
Project are located; and
WHEREAS, the City Council of the City of Anaheim (the "Council"} is the
elected legislative body of the City and is one of the applicable elected representatives requireu�
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to approve the financing of the Anaheim Project and the Bonds therefor under Section 147(fl of
the Code; and
WHEREAS, the Corporation has requested that the Council approve the financing
of the Anaheim Project and the issuance of the Bonds therefor in order to satisfy the public
approval requirement of Section 147(� of the Code; and
WHEREAS, pursuant to Section 147(� of the Code, the Council has, following
notice duly given, held a public hearing regarding the financing of the Anaheim Project and the
issuance of the Bonds, and now desires to approve the financing and the issuance of the Bonds;
and
WHEREAS, it is intended that this Resolution shall comply with the public
approval requirements of Section 147(� of the Code; provided, however, that this Resolution is
neither intended to nor shall it constitute an approval by the Council for any other purpose.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ANAHEIM
DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1 Effective Date. It is the purpose and intent of the Council that this
Resolution constitute approval of the financing of the Anaheim Project and the issuance of the
Bonds therefor by the Authority for the purposes of Section 147(� of the Code by the applicable
elected representative of the governmental unit having jurisdiction over the area in which the
Anaheim Project is or will be located, in accordance with said Section 147(� of the Code.
Notwithstanding the faregoing, this Resolution does not obligate (i) the City to make any
expenditure, incur any indebtedness, or take any action in connection with the refinancing of the
2004 Project and the financing of the 2015 Project or (ii) the City, or any other public body or
department thereof to approve any application or request for, or take any other action in connection
with, any permit or other action necessary for the refinancing of the 2004 Project and the financing
of the 2015 Project.
SECTION 2 Other Acts; Ratification. The officers, employees and agents of
the City are hereby authorized and directed, jointly and severally, for and in the name and on
behalf of the City, to execute and deliver any and all documents and to do any and all things and
take any and all actions which may be necessary or advisable, in their discretion, to effectuate the
actions which the City has approved in this Resolution. All actions heretofore taken by the
officers, employees or agents of the City in furtherance of the purposes of this Resolution are
hereby ratified, confirmed and approved.
SECTION 3 Effective Date. This Resolution shall take effect immediately upon
its adoption.
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THE FOREGOING RESOLUTION is approved and adopted by the City Council
of the City of Ana'neim this 23` day of December, 2014, by the following roll call vote:
AYES: Mayor Tait, Council Members Murray, Brandman, Kring and Vanderbilt
NOES: None
ABSENT: None
ABSTAIN: None
CITY OF ANAHEIM
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By MAYOR OF THE CITY OF ANAHEIM
ATTEST:
CITY CLERK OF THE CITY O AHEIM
106518
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