Loading...
RES-1989-417 --~ 110OS-30 JHHW:BDO:cbl 09/28/89 Z4827 CITY OF ANAHEIM RESOLUTION NO. 89R- 417 A RESOLUTION APPROVING, AUTHORIZING AND DIRECTING EXECUTION OF AMENDMENTS TO FISCAL AGENT AGREEMENTS BY AND BETWEEN THE CITY AND BANK OF AMERICA NATIONAL TRUST AND SAVINGS ASSOCIATION RELATING TO COMMUNITY FACILITIES DISTRICT NO. 1989-1 (SYCAMORE CANYON) SPECIAL TAX BONDS, COMMUNITY FACILITIES DISTRICT NO. 1989-2 (THE HIGHLANDS) SPECIAL TAX BONDS, AND COMMUNITY FACILITIES DISTRICT NO. 1989-3 (THE SUMMIT) SPECIAL TAX BONDS, AND DIRECTING CERTAIN ACTIONS WITH RESPECT THERETO RESOLVED, by the City Council of the City of Anaheim, California (the "City"), as follows: WHEREAS, the City Council of the City has formed Community Facilities District No. 1989-1 (Sycamore Canyon) ("CFD 1989-1) under the provisions of the Mello-Roos Community Facilities Act of 1982, as amended (section 53311 et seq. of the California Government Code) (the "Act"), and Resolution No. 89R-49 of the City Council, adopted on February 21, 1989; WHEREAS, the City Council, as the legislative body with respect to CFD 1989-1, is authorized under the Act to levy special taxes to pay for the costs of facilities and services within CFD 1989-1 and to authorize the issuance of bonds secured by said special taxes under the Act; WHEREAS, under the provisions of the Act, on April 4, 1989, the City Council of the City adopted its Resolution No. 89R-97, which resolution, among other matters, authorized the issuance of the Community Facilities District No. 1989-1 (Sycamore Canyon) Special Tax Bonds (the "CFD 1989-1 Bonds") in the aggregate principal amount of not to exceed $6,710,000 upon the security of the unpaid special taxes and provided that said issuance would be in accordance with the Act and a fiscal agent agreement, and authorized the execution thereof; WHEREAS, in accordance therewith, the City entered into the CFD 1989-1 Fiscal Agent Agreement with Bank of America National Trust and Savings Association (the "Fiscal Agent") to provide for the issuance of the CFD 1989-1 Bonds, the disbursement of proceeds of the CFD 1989-1 Bonds, the disposition of the special taxes securing the CFD 1989-1 Bonds and the administration and payment of the CFD 1989-1 Bonds; and WHEREAS, the City has determined that certain provisions of the CFD 1989-1 Fiscal Agent Agreement are ambiguous; WHEREAS, the City and the Fiscal Agent have determined that it is desirable to amend the CFD 1989-1 Fiscal Agent Agreement to correct such ambiguity; WHEREAS, Section 8.01 of the CFD 1989-1 Fiscal Agent Agreement provides that the CFD 1989-1 Fiscal Agent Agreement may be modified or amended at any time by supplemental agreement, without the consent of the Owners (as defined in the CFD 1989-1 Fiscal Agent Agreement), among other things, to make such provisions for the purpose of curing any ambiguity, or of curing, correcting or supplementing any defective provision contained therein, or in regard to questions arising thereunder, as the City and the Fiscal Agent may deem necessary or desirable and not inconsistent therewith, and which shall not adversely affect the rights of the Owners of the CFD 1989-1 Bonds; and WHEREAS, the City has determined that such amendment is not inconsistent with the provisions of the CFD 1989-1 Fiscal Agent Agreement and shall not adversely affect the rights of the Owners of the CFD 1989-1 Bonds; WHEREAS, the City Council of the City has formed Community Facilities District No. 1989-2 (The Highlands) ("CFD 1989-2) under the provisions of the Act, and Resolution No. 89R-53 of the City Council, adopted on February 21, 1989; WHEREAS, the City Council, as the legislative body with respect to CFD 1989-2, is authorized under the Act to levy special taxes to pay for the costs of facilities and services within CFD 1989-2 and to authorize the issuance of bonds secured by said special taxes under the Act; WHEREAS, under the provisions of the Act, on April 4, 1989, the City Council of the City adopted its Resolution No. 89R-98, which resolution, among other matters, authorized the issuance of the Community Facilities District No. 1989-2 (The Highlands) Special Tax Bonds (the "CFD 1989-2 Bonds") in the aggregate principal amount of not to exceed $12,475,000 upon the security of the unpaid special taxes and provided that said issuance would be in accordance with the Act and a fiscal agent agreement, and authorized the execution thereof; WHEREAS, in accordance therewith, the City entered into the CFD 1989-2 Fiscal Agent Agreement with the Fiscal Agent to provide for the issuance of the CFD 1989-2 Bonds, the disbursement of proceeds of the CFD 1989-2 Bonds, the disposition of the special taxes securing the CFD 1989-2 Bonds and the administration and payment of the CFD 1989-2 Bonds; and WHEREAS, the City has determined that certain provisions of the CFD 1989-2 Fiscal Agent Agreement are ambiguous; WHEREAS, the City and the Fiscal Agent have determined that it is desirable to amend the CFD 1989-2 Fiscal Agent Agreement to correct such ambiguity; WHEREAS, Section 8.01 of the CFD 1989-2 Fiscal Agent Agreement provides that the CFD 1989-2 Fiscal Agent Agreement may be modified or amended at any time by supplemental agreement, without the consent of the Owners (as defined in the CFD 1989-2 Fiscal Agent Agreement), among other things, to make such provisions for the purpose of curing any ambiguity, or of curing, correcting or supplementing any defective provision contained therein, or in regard to questions arising thereunder, as the City and the Fiscal Agent may deem necessary or desirable and not inconsistent therewith, and which shall not adversely affect the rights of the Owners of the CFD 1989-2 Bonds; -2- WHEREAS, the City has determined that such amendment is not inconsistent with the provisions of the CFD 1989-2 Fiscal Agent Agreement and shall not adversely affect the rights of the Owners of the CFD 1989-2 Bonds; WHEREAS, the City Council of the City has formed Community Facilities District No. 1989-3 (The Summit) ("CFD 1989-3) under the provisions of the Act, and Resolution No. 89R-100 of the City Council. adopted on April 4, 1989; . WHEREAS, the City Council, as the legislative body with respect to CFD 1989-3, is authorized under the Act to levy special taxes to pay for the costs of facilities and services within CFD 1989-3 and to authorize the issuance of bonds secured by said special taxes under the Act; WHEREAS, under the provisions of the Act, on April 4, 1989, the City Council of the City adopted its Resolution No. 89R-104, which resolution. among other matters. authorized the issuance of the Community Facilities District No. 1989-3 (The Summit) Special Tax Bonds (the "CFD 1989-3 Bonds") in the aggregate principal amount of not to exceed $11,500,000 upon the security of the unpaid special taxes and provided that said issuance would be in accordance with the Act and a fiscal agent agreement, and authorized the execution thereof; WHEREAS, in accordance therewith, the City entered into the CFD 1989-3 Fiscal Agent Agreement with the Fiscal Agent to provide for the issuance of the CFD 1989-3 Bonds, the disbursement of proceeds of the CFD 1989-3 Bonds, the disposition of the special taxes securing the CFD 1989-3 Bonds and the administration and payment of the CFD 1989-3 Bonds; WHEREAS, the City has determined that certain provisions of the CFD 1989-3 Fiscal Agent Agreement are ambiguous; WH EREAS, the City and the Fiscal Agent have determined that it is desirable to amend the CFD 1989-3 Fiscal Agent Agreement to correct such ambiguity; WHEREAS, Section 8.01 of the CFD 1989-3 Fiscal Agent Agreement provides that the CFD 1989-3 Fiscal Agent Agreement may be modified or amended at any time by supplemental agreement, without the consent of the Owners (as defined in the CFD 1989-3 Fiscal Agent Agreement), among other things, to make such provisions for the purpose of curing any ambiguity, or of curing, correcting or supplementing any defective provision contained therein, or in regard to questions arising thereunder, as the City and the Fiscal Agent may deem necessary or desirable and not inconsistent therewith. and which shall not adversely affect the rights of the Owners of the CFD 1989-3 Bonds; and WHEREAS. the City has determined that such amendment is not inconsistent with the provisions of the CFD 1989-3 Fiscal Agent Agreement and shall not adversely affect the rights of the Owners of the CFD 1989-3 Bonds; NOW, THEREFORE, it is hereby ORDERED and DETERMINED, as follows: -3- Section 1. An amendment to the CFD 1989-1 Fiscal Agent Agreement, in the form attached hereto as Exhibit A, be and the same is hereby approved, and the Mayor, the City Manager or the Finance Director is hereby authorized and directed to execute said amendment, with such changes, insertions and omissions as may be approved by such official. Section 2. An amendment to the CFD 1989-2 Fiscal Agent Agreement, in the form attached hereto as Exhibit B, be and the same is hereby approved. and the Mayor, the City Manager or the Finance Director is hereby authorized and directed to execute said amendment, with such changes, insertions and omissions as may be approved by such official. Section 3. An amendment to the CFD 1989-3 Fiscal Agent Agreement. in the form attached hereto as Exhibit C. be and the same is hereby approved. and the Mayor, the City Manager or the Finance Director is hereby authorized and directed to execute said amendment, with such changes, insertions and omissions as may be approved by such official. Section 4. The Mayor, the City Manager, the Finance Director and other officials of the City are hereby authorized and directed to execute such other agreements, documents and certificates as may be necessary to effect the purposes of this resolution. * * * * * * * * THE FOREGOING RESOLUTION is approved and adopted by the City Council of the City of Anaheim this 17th day of October, 1989. ATTEST: ASSISTANT ~ CITY CLERK OF THE -4- CLERK STATE OF CALIFORNIA ) COUNTY OF ORANGE ) ss. CITY OF ANAHEIM ) I, ANN M. SAUVAGEAU, Assistant City Clerk of the City of Anaheim, do hereby certify that the foregoing Resolution No. 89R-4l7 was introduced and adopted at a regular meeting provided by law, of the City Council of the City of Anaheim held on the 17th day of October, 1989, by the following vote of the members thereof: AYES: COUNCIL MEMBERS: Daly, Ehrle, Pickler, Kaywood and Hunter NOES: COUNCIL MEMBERS: None ABSENT: COUNCIL MEMBERS: None AND I FURTHER certify that the Mayor of the City of Anaheim signed said Resolution No. 89R-4l7 on the 18th day of October, 1989. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the City of Anaheim this 18th day of October, 1989. ASSISTANT (SEAL) I, ANN M. SAUVAGEAU, Assistant City Clerk of the City of Ananeim, do hereby certify that the foregoing is the original of Resolution No. 89R-4l7 duly passed and adopted by the Anaheim City Council on October 17, 1989.