1985-241RESOLUTION NO. 85R.-241
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF ANAHEIM TRANSFERRING 1985 PRIVATE ACTIVITY
BOND LIMIT TO THE INDUSTRIAL DEVELOPMENT
AUTHORITY OF ANAHEIM (RUBS BERRIE PROJECT).
WHEREAS, pursuant to Section 103(n) of the Internal
Revenue Code of 1954, as amended, there are authorized to be
issued within the State of California (the "State") in any
calendar year an amount of Private Activity Bonds (as defined in
said Section 103[n]) not exceeding in aggregate principal amount
the statewide limit determined as set forth in said Section
103(n); and
WHEREAS, the Governor of the State of California on June
19, 1984, issued a Proclamation (the "Proclamation") implementing
the provisions of said Section 103(n), pursuant to which a portion
of said statewide limit is allocated to each city in the State
based on the estimated population of such city; and
WHEREAS, the City of Anaheim, California (the "City") has
determined that the portion of said statewide limit allocated to
the City for the current calendar year is $12,116,000.00 (the
"1985 Private Activity Bond Limit"); and
WHEREAS, the Proclamation permits the City to assign to
another local agency all or a portion of its 1985 Private Activity
Bond Limit by resolution adopted by the City Council, and the
Industrial Development Authority of Anaheim (the "Authority") has
requested the City to assign to it the amount of $2,200,000.00 for
the issuance of the Authority's 1985 Industrial Revenue Bonds in
regard to the Russ Berrie Project; and
WHEREAS, the City Council of the City of Anaheim has
heretofore, on December 18, 1984, adopted its Resolution No.
84R-498 allocating $2,500,000.00 of the City's Private Activity
Bond Limit for 1984 to the Russ Berrie Project; however, it is
necessary to now assign a portion of the City's 1985 Private
Activity Bond Limit to the Authority to finance the Russ Berrie
Project because said prior allocation has lapsed in that bonds for
the Russ Berrie Project were not issued in calendar year 1984; and
WHEREAS, the City Council of the City of Anaheim has
heretofore, on January 22, 1985, adopted its Resolution No. 85R-44
approving the issuance by the Authority of its bonds for such
purpose.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Anaheim as follows:
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Section 1. Transfer of Private Activity Bond Limit. The
amount of X2,200,000.00 representing a portion of the City's 1985
Private Activity Bond Limit, is hereby transferred to the
Industrial Development Authority of Anaheim (the "Authority") for
issuance of its bonds for the Russ Berrie Project. Such transfer
shall be irrevocable upon the adoption of this Resolution provided
that if the Authority shall issue its bonds for the Russ Berrie
Project in a principal amount less than $2,200,000.00 the amount
transferred in excess of the principal amount of bonds so issued
shall revert to the City.
Section 2. Official Action. The City Clerk is hereby
authorized and directed to notify the California Debt Limit
Allocation Committee (the "Committee") established by the
Proclamation of the assignment made pursuant to Section 1 within
fifteen (15) days of the adoption of this Resolution.
Section 3. Effective Date. This Resolution shall take
effect immediately upon its passage and adoption.
THE FOREGOING RESOLUTION is approved and adopted by the
City Council of the City of Anaheim this 18th day of June, 1985.
i'/'
MAYOR OF THE CITY OF ANAHEIM
ATTEST :,,.
,,~, .`' ~
CITY CLERK OF THE CITY OF ANAHEIM
MES:fm
3738M/157
061285
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STATE OF CALIFORNIA)
COUNTY OF ORANGE )
CITY OF ANAHEIM )
I. ~FONORA N. SQ~,ity Clerk of the City of Anaheim, do hereby certify that
the foregoing Resolution Nog5R-241 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 June, 1985, by the following vote of the members thereof:
AYES: AUTHORITY MEMBERS: Kaywood, Bay, Fickler, Overholt and Roth
NOES: AUTHORITY MEMBERS: None
ABSENT: AUTHORITY MEMBERS: None
AND FURTHER CERTIFY that the Mayor of the City of Anaheim signed said
Resolution No.85R-241 on the 18th day of June, 1985.
IN WITNESS WHEREOF, I fiave hereunto set my hand and affixed the seal of the
City of Anaheim thisl8th day of June, 1985.
~,
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CITY CLERK OF THE CITY OF ANAH M
~SEAL>
3
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REPORT OF ACTION TAKEN WITH
RESPECT TO PRIVATE ACTIVITY BONDS
CALIFORNIA DEBT LIMIT ALLOCATION COMMITTEE
P.O. Box 1919
Sacramento, California 95809
.:~_
(916) 324-0310
Please complete this form within 15 days of taking of any action
described below (in Section I•) and mail to the above address.
NAME OF ISSUER: CI`T'Y OF AI~IF?'EL4
ADDRESS: 2.C0 South Anahei:~ 31vd. , Ana'~ei*;Z~California 9?_30~
Orange COUNTY
CONTACT PERSON: • °IORP'!A'.~I J. PRIEST
TITLE: EXF:CU7'Iti'E DIRECTOR TELEPHONE: (714) 999-5100
DATE OF THIS REPORT:
I. ACTION TAKEN: (Check one.)
A) ISSUANCE OF BONDS (Complete Section II. below.)
B) TRANSFER OF ALLOCATION X (Complete Section III. below.)
C) CARRYFORWARD ELECTION: ,
DATE ACTION TAKEN:
PRINCIPAL AMOUNT: $ 2, 200, 000.00
NAME OF PRIVATE USER AND/OR DESCRIPTION OF PROJECT:
?US:S BERRSE PROJECT
II. FOR ISSUANCE OF BONDS:
SOURCE OF ALLOCATION: (Check one or more.)
ISSUER'S ALLOCATION FOR CURRENT YEAR `
TRANSFER (Name of Donor: )
CARRYFORWARD FROM PRIOR YEAR
III. FOR TRANSFER:
NAME OF GOVERNMENTAL UNIT TO WHOM
ALLOCATION WAS TRANSFERRED : I:~IDUSTFSPI, DFVF7A??D~'NT Ai'T~:ORITY of ANAI-~IM
DESCRIBE ANY ~.~MITATIONS ON TRANSFER: ~r~ ~r--F; Fc,~r _^~--F; ngINCIPAr. AN1ot~r_r
OF L30NDS ISSUED FOR THE RUSS BFPRIE DROJFCI' IS LESS TEAN $2,200,000,00, '~
3ALAIVCE SHALL R.P:VERT TO 'I':'E CITY OF A'VAE-?FTl`:.
CITY OF Lti.
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City Cler