ARA1982-004RESOLUTION NO. ARA &2 -4
A RESOLUTION OF THE ANAHEIM REDEVELOPMENT
AGENCY AUTHORIZING INSTALLMENT SALE FINANC-
ING FOR THE PURPOSE OF PROVIDING FOR THE
CONSTRUCTION, DEVELOPMENT AND FINANCING OF
CERTAIN THEATER FACILITIES BY KING OF
CALIFORNIA, INC.
WHEREAS, for the purposes of redevelopment, the
Redevelopment Agency is authorized by Health and Safety Code
Sections 33341 and 33430 to acquire, purchase and lease and
to sell, lease and dispose of real and personal property; and
WHEREAS, King of California, Inc. (the "Developer ")
has requested Agency to enter into an installment sale financ-
ing agreement for the purpose of providing financing for certain
theater facilities within the redevelopment project area of the
Agency, and the Agency, for the purposes of redevelopment, wishes
to induce the Developer to locate said facilities in the redevel-
opment project area; and
WHEREAS, it is in the public interest, for public
benefit and in furtherance of the redevelopment and public pur-
poses of the Agency that the Agency authorize said installment
sale financing for the aforesaid purposes; and
NOW, THEREFORE, BE IT RESOLVED as follows:
1. The Anaheim Redevelopment Agency hereby authorizes the
entering into of an installment sale financing agreement with the
Agency as Lessee /Purchaser in a principal amount of not to exceed
Ten Million Dollars ($10,000,000) for the purpose of providing
financing to the Developer for the construction and development
of theater facilities (the "Project ") to be located at the north-
west corner of Broadway and Philadephia in the City of Anaheim
and the entering into of a subsidiary installment sale financing
agreement with the Developer as Lessee /Purchaser of the Project.
2. The entering into of said installment sale .financing
agreement shall be upon such terms and conditions as may be
mutually agreed upon by the Agency, the Developer and the lessor
of the Project and shall be subject to completion of proceedings
for the entering into of said agreement by the Agency.
3. The not to exceed $10,000,000 principal amount of said
-- installment sale financing agreement shall include such related
and necessary acquisition expenses, administrative costs, reserves
and capitalized interest payments as may be required to accomplish
successfully the financing.
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4. The Agency hereby finds that the installment sale financ-
ing agreement as more particularly described herein is a substantial
inducement to the Developer to construct the Project and that said
Project will further the redevelopment purposes of this Agency.
THE FOREGOING RESOLUTION is approved and adopted by the
Anaheim Redevelopment Agency this 26th day of JanL3 1982.
IM REDEVELOPMSNT AGENCY
ATTEST: LINDA D. ROBERTS, SECRETARY
O_ IEO O -kc
ACTING SECRETARY
ANAHEIM REDEVELOPMENT AGENCY
MES:fm
-2-
STATE OF CALIFORNIA )
COUNTY OF ORANGE )
CITY OF ANAHEIM )
I, LINDA D. ROBERTS, Secretary of the Anaheim Redevelopment Agency, do
hereby certify that the foregoing Resolution No. ARA82 -4 was passed and
adopted at a regular meeting of the Anaheim Redevelopment Agency held on
the 26th day of January, 1982, by the following vote of the members thereof:
AYES: AGENCY MEMBERS: Overholt, Kaywood, Bay, Roth and Seymour
NOES: AGENCY MEMBERS: None
ABSENT: AGENCY MEMBERS: None
AND I FURTHER CERTIFY that the Chairman of the Anaheim Redevelopment
Agency signed said Resolution on the 26th day of January, 1982.
IN WITNESS WHEREOF, I have hereunto set my hand and seal this 26th day of
January, 1982.
LINDA D. ROBERTS, SECRETARY OF THE ANAHEIM REDEVELOPMENT AGENCY
BY �-a !r � '
ACTING SECRETARY
(SEAL)
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