490611009-27 JHHW:BDQ:kla 01/26/88
02/08/88
02/17/88
ORDINANCE NO. 4906
AN ORDINANCE OF THE CITY OF ANAHEIM
AUTHORIZING THE ISSUANCE OF COMMUNITY CENTER AUTHORITY
REVENUE BONDS, SERIES E, FOR THE PURPOSE OF PROVIDING
FUNDS FOR THE ACQUISITION, CONSTRUCTION AND FINANCING
OF ADDITIONS TO THE ANAHEIM CONVENTION CENTER AND
DESIGNATING THE ANTICIPATED SOURCES OF REVENUE THAT
WILL BE PLEDGED TO SECURE SAID REVENUE BONDS.
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WHEREAS, pursuant to the provisions of Article 1, Chapter 5, Division 7, Title 1 of
the Government Code of the State of California, as amended, the City of Anaheim (the
"City") has heretofore entered into a Joint Exercise of Powers Agreement, as amended
and supplemented (the "Agreement"), with the Anaheim Union High School District (the
"District") creating the Community Center Authority (the "Authority"), an agency or public
entity separate and apart from the City and the District; and
WHEREAS, the Authority has power to acquire, construct, maintain, operate and
lease an auditorium and exhibition building for holding, among other things, fairs or
exhibitions for the display of agricultural, livestock, industrial or other products,
exhibitions and other public meetings and the Authority is authorized, in its own name, to
do all acts necessary for the exercise of its powers; and
WHEREAS, the Authority has the power to issue its revenue bonds in accordance
with the Agreement and the provisions of Article 2, Chapter 5, Division 7, Title 1 of the
Government Code of the State of California (the "Bond Act"), to provide funds for the
acquisition, construct and financing of such facilities; and
WHEREAS, the Authority has acquired, pursuant to a lease between the City as
lessor and the Authority as lessee, as amended and supplemented (the "Site Lease"), a
leasehold interest in certain real property and has constructed thereon that certain facility
known as the Anaheim Convention Center and has, in accordance with the Agreement
and the Bond Act, issued its Revenue Bonds, Series A, Revenue Bonds, Series B,
Revenue Bonds, Series C, and Revenue Bonds, Series D, to provide funds for the
acquisition, construction and financing thereof; and
WHEREAS, such Revenue Bonds, Series A, Revenue Bonds, Series B, Revenue
Bonds, Series C, and Revenue Bonds, Series D, were issued pursuant to and secured by
the Authority's Resolution No. 21, adopted on June 24, 1965, as amended and
supplemented (the "Bond Resolution"), and are payable from certain funds held in trust
under the Bond Resolution for the benefit of the holders of revenue bonds issued
thereunder and from revenues of the Authority from the Anaheim Convention Center,
including rentals received by the Authority under a lease of the Anaheim Convention
Center between the Authority as lessor and the City as lessee, as amended and
supplemented (the "Facility Lease"), which rentals are designed to be adequate to pay,
when due, the principal and premium, if any, of and interest on such Revenue Bonds,
Series A, Revenue Bonds, Series B, Revenue Bonds, Series C, and Revenue Bonds,
Series D; and
WHEREAS, the Authority proposes to utilize a portion of the premises previously
leased to it pursuant to the Site Lease in connection with, and proposes to construct,
certain additions and improvements to the Anaheim Convention Center, including, in
general terms, renovation of the existing facility, construction of a two—level expansion to
the existing facility (providing 158,000 square feet of exhibit space on the upper level and
parking on the lower level) and construction of a five—level parking garage (providing
1,210 parking spaces);
WHEREAS, the Authority proposes to utilize certain premises located at the
Anaheim Stadium to be leased to it pursuant to a sublease between the City and the
Authority in connection with, and proposes to construct thereon certain additions and
improvements comprised of, in general terms, construction of approximately 150,000
square feet of exhibit space and ancillary facilities within the existing stadium structure;
and
WHEREAS, this City Council has determined that the public interest and necessity
require the acquisition of such premises and the construction of such additions and
improvements by the Authority; and
WHEREAS, in accordance with the Bond Act, the exercise by the Authority of its
power to issue revenue bonds is subject to the authorization of such issuance by the City
pursuant to ordinance; and
WHEREAS, by separate ordinances, this City Council has heretofore authorized
the issuance of Revenue Bonds, Series A, Revenue Bonds, Series B, Revenue Bonds,
Series C, and Revenue Bonds, Series D, of the Authority; and
WHEREAS, the Authority has issued, in accordance with the Agreement and the
Bond Act, its Revenue Bonds, Series A, Revenue Bonds, Series B, Revenue Bonds,
Series C, and Revenue Bonds, Series D, to provide funds for the acquisition, construction
and financing of such premises, additions and improvements, such Revenue Bonds,
Series A, maturing on or before August 1, 1995 and having been issued in an aggregate
principal amount of $14,500,000, such Revenue Bonds, Series B, maturing on or before
August 1, 1995, having been issued in an aggregate principal amount of $8,000,000, such
Revenue Bonds, Series C, maturing on or before August 1, 2011, having been issued in
an aggregate principal amount of $10,000,000 and Revenue Bonds, Series D, maturing on
or before August 1, 2011, and having been issued in the aggregate principal amount of
$25,855,000; and
WHEREAS, such Revenue Bonds, Series A, Revenue Bonds, Series B, Revenue
Bonds, Series C, and Revenue Bonds, Series D, were issued pursuant to and secured by
the Bond Resolution and are payable from funds held in trust under the Bond Resolution
for the benefit of the holders of Revenue Bonds issued thereunder and from revenues of
the Authority from the Anaheim Convention Center, including rentals received by the
Authority from the City under an amendment to the Facility Lease, with the rentals under
the Facility Lease, as so amended, being designed to be adequate to pay, when due,
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principal, premium and interest on the Revenue Bonds, Series A, Revenue Bonds, Series
B, the Revenue Bonds, Series C, and the Revenue Bonds, Series D; and
WHEREAS, the Authority proposes to issue, in accordance with the Agreement
and the Bond Act, its Revenue Bonds, Series E, to provide funds for the acquisition,
construction and financing of such premises, additions and improvements, such Revenue
Bonds, Series E, to mature on or before August 1, 2020 and to be issued in an aggregate
principal amount not exceeding $65,000,000; and
WHEREAS, such Revenue Bonds, Series E, are proposed to be issued pursuant to
and secured by the Bond Resolution and to be payable from funds held in trust under the
Bond Resolution for the benefit of the holders of Revenue Bonds issued thereunder and
from revenues of the Authority from the Anaheim Convention Center, including rentals
received by the Authority from the City under a further amendment to the Facility Lease,
with the rentals under the Facility Lease, as so amended, being designed to be adequate
to pay, when due, principal, premium and interest on the Revenue Bonds, Series A, the
Revenue Bonds, Series B, the Revenue Bonds, Series C, the Revenue Bonds, Series D,
and the Revenue Bonds, Series E;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ANAHEIM DOES
ORDAIN AS FOLLOWS:
1. The issuance by the Authority of Community Center Authority Revenue Bonds,
Series E, in an aggregate principal amount not to exceed $65,000,000, is hereby
authorized.
2. The proceeds from the sale of such Revenue Bonds, Series E, are authorized
to be used for the acquisition, construction and financing of the premises, additions and
improvements described above.
3. The Revenue Bonds, Series E, and premium and interest thereon are hereby
authorized to be payable from, and secured by, funds held in trust under the Bond
Resolution for the benefit of the holders of Revenue Bonds issued thereunder and from
revenues of the Authority from the Anaheim Convention Center, including rentals
received by the Authority from the City under the above—described further amendment to
the Facility Lease.
4. Pursuant to Section 6547 of the Bond Act, this Ordinance is subject to the
provisions for referendum prescribed by Section 3751.7 of the Elections Code of the
State of California.
5. The City Clerk shall certify to the enactment of this Ordinance and shall cause
notice of the same to be published in accordance with Section 6040.1 of the Government
Code of the State of California, for five (5) consecutive days within fifteen (15) days of its
adoption, in the Anaheim Bulletin, a daily newspaper of general circulation, published and
circulated in the City, and thirty (30) days from and after the approval of this Ordinance,
this Ordinance shall take effect and be in full force, in the manner provided by law.
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THE FOREGOING ORDINANCE is passed and approved by the City Council of the
City of Anaheim this 1st day of March, 1988.
Attest:
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City Clerk
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Mayor
CLERK
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.
CITY OF ANAHEIM )
I, LE;ONORA N. SOHL, City Clerk of the City of Anaheim, do hereby certify that
the foregoing Ordinance No. 4906 was introduced at a regular meeting of the
City Council of the City of Anaheim, held on the 23rd day of February, 1988,
and that the same was duly passed and adopted at a regular meeting of said
City Council held on the lst day of March, 1988, by the following vote of the
members thereof:
AYES: COUNCIL MEMBERS: Ehrle, Hunter, Kaywood, Pickler and Bay
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
AND I FURTHER CERTIFY that the Mayor of the City of Anaheim signed said
Ordinance No. 4906 on the 2nd day of March, 1988.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal
of the City of Anaheim this 2nd day of March, 1988.
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 Ordinance No. 4906 and was published once in the
Anaheim Bulletin on the lith day of March, 1988.
CITY CLERK