97-032RESOLUTION NO. 97R
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ANAHEIM APPROVING
THE ISSUANCE OF BONDS BY THE ANAHEIM PUBLIC FINANCING AUTHORITY,
APPROVING THE BORROWING OF BOND PROCEEDS BY THE ANAHEIM
REDEVELOPMENT AGENCY AND THE REFUNDING OF CERTAIN PRIOR
OBLIGATIONS OF THE AGENCY
WHEREAS, the City of Anaheim (the "City") and the Anaheim Redevelopment Agency
(the "Agency have heretofore entered into a Joint Exercise of Powers Agreement establishing the
Anaheim Public Financing Authority (the "Authority") for the purpose, among others, of issuing
the Authority's bonds to be used to provide financial assistance to the Agency; and
WHEREAS, the Agency is undertaking to assist the redevelopment of Anaheim
Redevelopment Project Alpha in the City (the "Redevelopment Project and for such purpose the
Agency has previously issued its Anaheim Redevelopment Project Alpha Tax Allocation Refunding
Bonds (Subordinate Lien), Series 1986 A, in the original aggregate initial principal amount of
$49,380,000, and its Anaheim Redevelopment Project Alpha, 1995 Taxable Tax Allocation Bonds
(Housing) in the aggregate principal amount of $2,700,000 (collectively, the "Prior Obligations
and
WHEREAS, the Agency has determined that due to prevailing financial market conditions it
is in the best interests of the Agency to realize interest rate savings by refunding the Prior
Obligations, and the Agency has requested the Authority to lend it funds in an amount sufficient for
such purpose, including payment of associated costs; and
WHEREAS, for the purpose of raising funds necessary to provide such financial assistance
to the Agency, the Authority proposes to authorize the issuance of revenue bonds (the "Bonds
under the provisions of Article 4 (commencing with Section 6584) of Chapter 5 of Division 7 of
Title 1 of the Government Code of the State of California, designated as the Anaheim Public
Financing Authority 1997 Tax Allocation Revenue Refunding Bonds (Redevelopment Project
Alpha); and
WHEREAS, the proceeds of the Bonds will be applied to make a loan (the "Loan") to the
Agency pursuant to a Loan Agreement dated as of February 1, 1997, subject to such changes as
may be approved by the Agency pursuant to its authorizing resolution (the "Loan Agreement and
WHEREAS, the City Council approves of said transaction on the part of the Agency as
being in the public interest of the City, the Agency and the Authority.
NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED by the City
Council of the City of Anaheim, as follows:
Section 1. Approval of Loan; Loan Agreement. The issuance of the Bonds by the
Authority, the entering into of the Loan Agreement by the Agency, the Loan made to the Agency
pursuant thereto in a principal amount not to exceed $33,000,000, and the application of the net
proceeds of the Loan to refund the Prior Obligations are hereby approved.
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Section 2. Effective Date. This Resolution shall take effect from and after the date of its
passage and adoption.
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The FOREGOING RESOLUTION was approved and adopted by the City Council of the
City of Anaheim this 18 day of March 1997, by the following vote
ATTEST:
By:
CITY CLERK OF THE CITY OF ANAHEIM
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MAYOR OF THE CITY OF AN
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. 97R -32 was introduced and adopted at a regular meeting provided by law, of
the Anaheim City Council held on the 18th day of March, 1997, by the following vote of the
members thereof:
AYES: MAYOR /COUNCIL MEMBERS: McCracken, Tait, Zemel, Lopez, Daly
NOES: MAYOR /COUNCIL MEMBERS: None
ABSENT: MAYOR /COUNCIL MEMBERS: None
AND I FURTHER CERTIFY that the Mayor of the City of Anaheim signed said Resolution
No. 97R -32 on the 18th day of March, 1997.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City
of Anaheim this 18th day of March, 1997.
(SEAL)
CITY CLERK OF THE CITY OF ANAHEIM
I, LEONORA N. SOHL, City Clerk of the City of Anaheim, do hereby certify that the foregoing
is the original of Resolution No. 97R -32 was duly passed and adopted by the City Council of
the City of Anaheim on March 18th, 1997.
CITY CLERK OF THE CITY OF ANAHEIM