RES-1989-30211009-26
JHHW:BDQ:kla 06/27/89
Z4567
July 18, 1989
CITY OF ANAHEIM
RESOLUTION NO. 89R- 302
A RESOLUTION APPROVING, AUTHORIZING AND DIRECTING EXECUTION
OF AN AMENDMENT TO A TRUST AGREEMENT AMONG THE CITY,
THE ANAHEIM PUBLIC IMPROVEMENT CORPORATION AND
SECURITY PACIFIC NATIONAL BANK, AS TRUSTEE,
AND DIRECTING CERTAIN ACTIONS WITH RESPECT THERETO
RESOLVED, by the City Council of the City of Anaheim, California (the "City"):
WHEREAS, the City has, pursuant to that certain Lease Agreement, dated as of
August 1, 1985, between the Corporation and the City (the "Lease") agreed to lease that
certain project described in Exhibit B to the Lease (the "Project") from the Corporation
and, pursuant to the Lease, the Corporation has agreed to lease the Project to the City;
WHEREAS, the Trustee has executed and delivered certain certificates of
participation (the "Certificates") in the lease payments to be made by the City under the
Lease (the "Lease Payments") pursuant to the Trust Agreement and has applied the
proceeds of the sale of the Certificates in accordance with the provisions of the Trust
Agreement;
WHEREAS, Section 502(f) of the Trust Agreement provides that on August 1, 1989,
any funds in the Construction Account (as defined in the Trust Agreement) shall be paid
to the City to be used for any lawful purposes and the Construction Account shall be
closed;
WHEREAS, the City has determined it is in the best interests of the City to amend
the Trust Agreement to prevent such transfer to the City;
WHEREAS, Section 901 of the Trust Agreement provides that the Trust Agreement
may be amended in writing, without the consent of the Certificate Owners (as defined in
the Trust Agreement) in regard to questions arising thereunder which the City may deem
necessary or desirable and not inconsistent with the provisions thereof and which shall
not, in the opinion of counsel whose opinions are generally acceptable in the marketing
of tax-exempt obligations, adversely affect the interests of the Certificate Owners and
shall not cause the Lease Payments to be includable in gross income for the purposes of
federal income taxes; and
WHEREAS, the City has received such opinion;
NOW, THEREFORE, it is hereby ORDERED and DETERMINED, as follows:
SECTION 1. An amendment to the Trust 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, and the
City Clerk is hereby authorized and directed to attest to such official's signature.
SECTION 2. The 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 18th day of July, 1989.
ATTEST:
CITY CLERK OF THE CITY OF ANAHEIM
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-302 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-302 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-302 duly passed and
adopted by the Anaheim City Council on July 18, 1989.
CITY CLERK OF THE CITY OF ANAHEIM