RES-1989-296CITY OF ANAHEIM RESOLUTION NO. 89R~96
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ANAHEIM,
CALIFORNIA APPROVING THE FORM OF AMENDMENT NO. 7 TO THAT
CERTAIN REVOLVING CREDIT AGREEMENT AMONG THE CITY OF ANAHEIM,
BANK OF AMERICA NATIONAL TRUST AND SAVINGS ASSOCIATION AND
MORGAN GUARANTY TRUST COMPANY OF NEW YORK AND AUTHORIZING
EMPLOYMENT OF A FINANCIAL ADVISOR, AN ISSUING AND PAYING
AGENT, A DEALER AND CO-BOND COUNSEL IN CONNECTION WITH
ELECTRIC REVENUE ANTICIPATION NOTES;
WHEREAS, the City Council of the City.of Anaheim (the
"City") as its meeting on April 27, 1983, adopted a Resolution,
designated as Resolution No. 83R-170, approving the form of a
Revolving Credit Agreement and authorizing the execution and
delivery thereof; and
WHEREAS, the City Council of the City at its meeting on
August 28, 1984, adopted a Resolution, designated as Resolution No.
84R-332, approving the form of an Amendment No. 1 to Revolving
Credit Agreement and authorizing the execution and delivery
thereof; and
WHEREAS, the City Council of the City at its meeting on
November 6, 1984 adopted a Resolution, designated as Resolution No.
84R-442, approving the form of an Amendment No. 2 to Revolving
Credit Agreement and authorIzing the execution and delivery
thereof; and
WHEREAS, the City Council of the City at its meeting on
October 22, 1985 adopted a Resolution, designated as Resolution
No. 85R-456, approving the form of an Amendment No. 3 to Revolving
Credit Agreement and authorIzing the execution and delivery
thereof; and
WHEREAS, the City Council of the City at its meeting on
September 2, 1986 adopted a Resolution, designated as Resolution
No. 86R-388, approving the form of an Amendment No. 4 to Revolving
Credit Agreement and authorizing the execution and delivery
thereof; and
WHEREAS, the City Council of the City at its meeting on
December 15, 1987, adopted a Resolution, designated as Resolution
No. 87R-520, approving the form of an Amendment No. 5 to Revolving
Credit Agreement and authorizing the execution and delivery
thereof; and
WHEREAS, the City Council of the City of its meeting on
July 26, 1988, adopted a Resolution, designated as Resolution No.
88R-298, approving the form of an Amendment No. 6 to Revolving
Credit Agreement and authorizing the execution and delivery
thereof; and
WHEREAS, pursuant to the above-referenced actions of the
City Council, the City and Bank of America National Trust and
Savings Association ("Bank of America") have heretofore entered
into a Revolving Credit Agreement dated June 1, 1983, an Amendment
No. 1 thereto dated September 19, 1984, an Amendment No. 2 thereto
dated November 6, 1984 and an Amendment No. 3 thereto dated July
1, 1985 and the City, Bank of America and Morgan Guaranty Trust
Company of New York ("Morgan Guaranty") have heretofore entered
into an Amendment No. 4 thereto dated September 12, 1986, an
Amendment No. 5 thereto dated January 12, 1988 and an Amendment No.
6 thereto dated August 9, 1988 (together, the "Revolving Credit
Agreement"); and
WHEREAS, the City Council of the City has determined that
it is necessary and desirable that the City Council approve the
form and authorize the execution and delivery of an Amendment No.
7 to Revolving Credit Agreement to be dated the date of delivery
thereof; and
WHEREAS, the City desires to employ a financial advisor,
an issuing and paying agent, a dealer and co-bond counsel in
connection with the issuance and sale of the City's Electric
Revenue Anticipation Notes; and
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ANAMEIM
DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS:
SECTION 1. The form, terms and provisions of Amendment
No. 7 to Revolving Credit Agreement, in substantially the form
submitted to this meeting, are hereby approved and adopted. The
Mayor of the City and the City Clerk are hereby authorized and
directed to, respectively, execute and deliver and attest and seal
said Amendment No. 7 in substantially the form submitted to this
meeting with such changes, insertions and omissions as the Mayor
shall approve, such approval to be conclusively evidenced by his
execution of such Amendment.
SECTION 2. In Amendment No. 7 to Revolving Credit
Agreement, Bank of America and Morgan Guaranty will agree to the
amendments of the Revolving Credit Agreement contained in said
Amendment. The City Council hereby finds, determines and declares
that said Amendment when executed and delivered will not adversely
affect the rights of the holders of any of the City's outstanding
Electric Revenue Anticipation Notes and Water Revenue Anticipation
Notes who have not consented to said Amendment.
SECTION 3. The City Council hereby authorizes the
employment of O'Brien Partners Inc. to serve as Financial Advisor,
BankAmerica Trust Company of New York to serve as Issuing and
Paying Agent, Goldman, Sachs & Co. to serve as the Dealer, and
Mudge Rose Guthrie Alexander & Ferdon and Rourke & Woodruff to
serve as Co-Bond Counsel in connection with the City's issuance and
sale of Electric Revenue Anticipation Notes, on such terms and
conditions as shall be approved by the Public Utilities General
Manager.
SECTION
immediately.
This Resolution shall be effective
1989.
ADOPTED, SIGNED AND APPROVED this !Sthday of July
City Clerk
CLERK
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.
CITY OF ANAHEIM )
I, LEONORA N. SOHL, City Clerk of the City of Anaheim, do hereby certify that
the foregoing Resolution No. 89R-296 was introduced and adopted at a regular
meeting provided by law, of the City Council of the City of Anaheim held on
the 18th day of July, 1989, by the following vote of the members thereof:
AYES'
COUNCIL MEMBERS' Daly, Kaywood and Hunter
NOES'
COUNCIL MEMBERS' None
ABSENT' COUNCIL MEMBERS' Ehrle and Pickler
AND I FURTHER certify that the Mayor of the City of Anaheim signed said
Resolution No. 89R-296 on the 19th day of July, 1989.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the
City of Anaheim this 19th day of July, 1989.
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 of Resolution No. 89R-296 duly passed and
adopted by the Anaheim City Council on July 18, 1989.
CITY CLERK OF THE CITY OF ANAHEIM