86R-481 CITY OF ANAHEIM RESOLUTION NO. 86R -481
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ANAHEIM, CALIFORNIA MAKING CERTAIN COVENANTS
WITH RESPECT TO PROVISIONS OF RESOLUTION
NOS. 83R -168 AND 83R -169 OF THE CITY COUNCIL
(AS HERETOFORE SUPPLEMENTED AND AMENDED) .
WHEREAS, the City Council of the City of Anaheim (the
"City") at its meeting on April 27, 1983 adopted a Resolution,
designated as Resolution No. 83R -168, relating to the issuance of
Electric Revenue Anticipation Notes of the City; and
WHEREAS, the City Council at its meeting on May 24, 1983
adopted a Resolution, designated as Resolution No. 83R -210,
amending and supplementing said Resolution No. 83R -168; and
WHEREAS, the City Council at its meeting on August 28,
1984 adopted a Resolution, designated as Resolution No. 84R -334,
supplementing said Resolution No. 83R -168; and
WHEREAS, the City Council at its meeting on November 16,
1984 adopted a Resolution, designated as Resolution No. 84R -442,
supplementing and amending said Resolution No. 83R -168; and
WHEREAS, the City Council at its meeting on
February 25, 1986 adopted a Resolution, designated as Resolution
No. 86R -72, supplementing and amending said Resolution
No. 83R -168; and
WHEREAS, the City Council at its meeting on September 2,
1986 adopted a Resolution, designated as Resolution No. 86R -390,
supplementing and amending said Resolution No. 83R -168; and
WHEREAS, said Resolution No. 83R -168, as so supplemented
and amended, is herein referred to as the "Electric System Notes
Resolution "; and
WHEREAS, the City Council at its meeting on April 27,
1983 adopted a Resolution, designated as Resolution No. 83R -169,
. relating to the issuance of Water Revenue Anticipation Notes of
the City; and
WHEREAS, the City Council at its meeting on August 28,
1984 adopted a Resolution, designated as Resolution No. 84R -332,
amending and supplementing said Resolution No. 83R -169; and
WHEREAS, the City Council at its meeting on August 28,
1984 adopted a Resolution, designated as Resolution No. 84R -334,
supplementing said Resolution No. 83R -169; and
WHEREAS, the City Council at its meeting on September
1986 adopted a Resolution, designated as Resolution No. 86R -389,
supplementing and amending said Resolution No. 83R -169; and
WHEREAS, said Resolution No. 83R -169, as so supplemented
and amended, is herein referred to as the "Water System Notes
Resolution "; and
WHEREAS, Section 4(c) of each of the Electric System
Notes Resolution and the Water System Notes Resolution would
permit the City, without the written consent of note holders, to
substitute a commercial bank under the Revolving Credit Agreement
provided for in such Resolutions with a bank of equal or higher
credit rating as determined by a "nationally recognized rating
agency;" and the City (in connection with obtaining ratings from
Moody's Investors Service and Standard & Poor's Corporation) has
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determined that it is advisable to further clarify the meaning of
"nationally recognized rating agency."
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ANAHEIM
DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS;
SECTION 1. The City will not act pursuant to
Section 4(c) of the Electric System Notes Resolution unless it
can comply with Section 4(c) by treating each of Moody's
Investors Service and Standard & Poor's Corporation as the
nationally recognized rating agency specified in such provision.
SECTION 2. The City will not act pursuant to
Section 4(c) of the Water System Notes Resolution unless it can
comply with Section 4(c) by treating each of Moody's Investors
Service and Standard & Poor's Corporation as the nationally rec-
ognized rating agency specified in such provision.
SECTION 3. This Resolution shall be effective
immediately.
Mayor
Attest: Leonora N. Sohl
2(
City Clerk
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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. 86R -481 was introduced and adopted at a regular
meeting provided by law, of the City Council of the City of Anaheim held on
the 28th day of October, 1986, by the following vote of the members thereof:
AYES: COUNCIL MEMBERS: Kaywood, Overholt, Bay, Fickler and Roth
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
AND I FURTHER certify that the Mayor of the City of Anaheim signed said
Resolution No. 86R -481 on the 28th day of October, 1986.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the
City of Anaheim this 28th day of October, 1986.
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. 86R -481 duly passed and
adopted by the Anaheim City Council on October 28, 1986.
2( `-C /L 'e
CITY CLERK