1979-142RESOLUTION NO 79R -142
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF ANAHEIM APPROVING THE CURRENT
FINANCING PLAN OF, AND THE ISSUANCE OF
BONDS BY, CITY OF ANAHEIM (CALIFORNIA)
STADIUM, INC. AND AUTHORIZING THE CITY
ATTORNEY AND THE FINANCE DIRECTOR TO
EXECUTE CERTAIN DOCUMENTS AND INSTRUMENTS
IN CONNECTION WITH THE FINANCING PLAN.
WHEREAS, certain real property situated in the City
of Anaheim (the "City has been leased to City of Anaheim
(California) Stadium, Inc. (the "Corporation as the site for
a stadium designed for public assembly, said stadium being
generally known as the Anaheim Stadium; and
WHEREAS, the Corporation proposes to undertake and
complete (for and on behalf of the City) certain improvements
to Anaheim Stadium, including the construction necessary to
enclose the playing area and tie in the two open ends of the
existing structure of the Stadium to expand seating capacity
to accommodate spectator attendance for the conduct and
exhibition of National Football League games of the Los Angeles
Rams Football Company and other events; and
WHEREAS, the Corporation has not made, and does not
intend to make, any profit by reason of any business or venture
in which it may engage or by reason of the construction or
operation of Anaheim Stadium and such improvements for and on
behalf of the City, no part of the Corporation's net earnings,
if any, will ever inure to the benefit of any person except
the City, and the Corporation's sole purpose for existence is
to enable public- spirited citizens to provide Anaheim Stadium
and such improvements as a municipal improvement; and
WHEREAS, the Corporation has adopted a plan of
financing (the "Financing Plan by which it has determined
to finance the cost of such improvements by authorizing and
providing for the issuance and sale of $33,000,000 aggregate
principal amount of bonds of the Corporation designated
"City of Anaheim (California) Stadium, Inc., Lease Rental
Bonds (1979 Series A)" (the "1979 Series A Bonds pursuant
to competitive bidding. The 1979 Series A Bonds are to be
payable from and secured by a pledge of certain revenues
assigned to Crocker National Bank, the Trustee pursuant to
the indenture entered into between the Corporation and the
Trustee, dated as of August 31, 1978, as to be supplemented
and modified by a First Supplemental Indenture thereto,
including rentals payable by the City to the Corporation
pursuant to a certain lease of the Anaheim Stadium and such
improvements dated as of August 31, 1978, as to be amended
as of March 1, 1979, between the City, as lessee, and the
Corporation, as lessor.
WHEREAS, the City Attorney and the Finance Director
will be required to execute and deliver certain documents and
instruments in connection with the closing of the transactions
contemplated by the Financing Plan; and
WHEREAS, it is in the best interests of the City to
have the City Attorney and Finance Director be authorized to
execute and deliver said instruments and documents.
NOW, THEREFORE, BE IT RESOLVED by the City Council
of the City of Anaheim as follows:
1. The Financing Plan adopted by the Corporation
is satisfactory and is hereby approved.
2. The issuance and sale by the Corporation of the
1979 Series A Bonds is satisfactory and is hereby approved.
3. The City Attorney and the Finance Director be,
and they are hereby, authorized and instructed to execute such
documents and instruments relating to the closing of the
transactions contemplated by the Financing Plan, and to take
any and all actions necessary or required to carry out and
perform the terms and conditions of said transactions.
THE FOREGOING RESOLUTIONS are approved and adopted
by the City Council of the City of Anaheim this 13th day of
March, 1979.
ATTEST:
LERK 0 THE ITY
FAL:JR:dw
MAYOR OF THE F ANAHEIM
AYES: COUNCIL MEMBERS: Overholt, Kaywood, Kott, Roth and Seymour
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
AND I FURTHER CERTIFY that the Mayor of the City of Anaheim signed said
Resolution No. 79R -142 on the 13th day of March, 1979.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the
City of Anaheim this 13th day of March, 1979.
STATE OF CALIFORNIA
COUNTY OF ORANGE ss.
CITY OF ANAHEIM
I, LINDA D. ROBERTS, City Clerk of the City of Anaheim, do hereby certify that
the foregoing Resolution No. 79R -142 was introduced and adopted at a regular
meeting provided by law, of the City Council of the City of Anaheim held on
the 13th day of March, 1979, by the following vote of the members thereof:
(SEAL)
CITY CL" OF THE CI OF ANAHEIM
I, LINDA D. ROBERTS, City Clerk of the City of Anaheim, do hereby certify that
the foregoing is the original of Resolution No. 79R -142 duly passed and adopted
by the Anaheim City Council on March 13, 1979.