92-17922049-05 JHHW:BDQ:~hc (17/29/,12
CITY OF ANAHEIM
RESOLUTION NO. 92R- 179
A RESOLUTION APPROVING EXECUTION AND DELIVERY BY THE
LOCAL MEDICAL FACILITIES FINANCING AUTHORITY IV OF
INSTALLMENT SALE AGREEMENTS WITH FEEDBACK FOUNDATION,
INC. AND OLIVE CREST TREATMENT CENTERS, INC.
RESOLVED, by the City Council of the City of Anaheim, California (the "City"), as
follows:
WHEREAS, the Local Medical Facilities Financing Author/ty IV, a joint exercise of
powers authority consisting of govemmentaf units in California created to assist in the financing of
facilities for local, nonprofit health corporations (the "Authority"), proposes to enter into an
installment sale agreement, by and between Feedback Foundation, Inc., a nonprofit, public benefit
corporation organized and existing under the laws of the State of California ("Feedback"), as
seller, and the Authority, as purchaser, in the maximum principal amount of $2,500,000, for the
purpose, among other things, of providing moneys to (i) finance the purchase and renovation of a
building located at 1200 North Knollwood Circle, Anaheim, to be owned and operated by
Feedback, as a meal production and distribution center, in connection with its adult day health care
services; (ii) finance the purchase of certain food service equipment, to be owned and operated by
Feedback in connection with its adult day health care services; and (iii) ref'mance the purchase of
certain food service equipment, to be owned and operated by Feedback;
WHEREAS, the Authority proposes to enter into an installment sale agreement, by and
between Olive Crest Treaunent Centers, Inc., a nonprofit, public benefit corporation orgarfized and
existing under the laws of the State of California ("Olive Crest"), as seller, and the Authority, as
purchaser, in the maximum principal amount of $2,600,000, for the purpose, among other th~gs,
of providing moneys to (i) finance the purchase of a buildings located at 422 North Bluerock
Street, Anaheim, to be owned and operated by Olive Crest, as a residential group home, in
connection with its abused children treatment services; and (ii) retinanee the purchase of a building
located at 2731 Virginia, Anaheim, to be owned and operated by Olive Crest as a residential group
home in connection with its abused children treatment services;
WHEREAS, section 147(f) of the Internal Revenue Code of 1986, requires the City
Council, as the elected representative of the City, the host jurisdiction of such facilities, to approve
the execution and delivery by the Authority of the proposed installment sale agreements after a
public hearing following reasonable notice;
WHEREAS, a public hearing was held by the Chairman of the Authority on Thursday,
August 13, 1992, in the Anaheim City Hall, Finance Conference Room, 7th Floor, 200 South
Anaheim Boulevard, Anaheim, California, following duly published notice thereof, and all persons
desiring to be heard have been heard; and
WHEREAS, it is in the public interest and for the public benefit that the City Council. as
the elected representative of the City, the host jurisdiction of such facilities, to approve the
execution and delivery by ~e Authority of the proposed installment sale agreements;
NOW, THEREFORE, it is hereby DETERMINED and ORDERED as follows:
Section 1. Execution and delivery by the Authority of an installment sale agreement, by and
between Feedback, as seller, and the Authority, as purchaser, in the maximum principal amount of
$2,500,000, for the purposes described above, is hereby approved.
Section 2. Execution and delivery by the Authority of an installment sale agreement, by and
between Olive Crest, as seller, and the Authority, as purchaser, in the maximum principal amount
of $2,600,000, among other things, for the purposes described above, is hereby approved.
The FOREGOING RESOLUTION was approved and adopted by the City Council of the
City of Anaheim this 3. 8~:h day of Aucjust: ,1992, by the following vote:
By y 0~~~'-~
Attest:
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. 92R-179
was introduced and adopted at a regular meeting provided by law, of the Anaheim City Council held on the 18th
day of August, 1992, by the following vote of the members thereof:
AYES: COUNCIL MEMBERS: Simpson, Ehrle, Pickler, Daly and Hunter
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
AND I FURTHER CERTIFY that the Mayor of the City of Anaheim signed said Resolution No. 92R-179 on the 19th
day of August, 1992.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City of Anaheim this 19th
day of August, 1992.
CITY CLERK OF THE CITY OF ANAHE vl
(SEAL)
I, LEONORA N. SOHL, City Clerk of the City of Anaheim, do hereby certify that the foregoing is the original of
Resolution No. 92R-179 duly passed and adopted by the City Council of the City of Anaheim on August 18, 1992.
CITY CLERK OF THE CITY OF ANAHEIM