HomeMy WebLinkAbout2002-03-26 - RESOLUTIONS - PROPERTY LEASE AGMT (2)RESOLUTION NO. JPA 02-1
ARESOLUTION OF THE BOARD OF THE SANTA CLARITA
PUBLIC FINANCING AUTHORITY APPROVING CERTAIN
DOCUMENTS IN CONNECTION WITH THE EXECUTION AND
DELIVERY OF $1,200,000 FIXED RATE REAL PROPERTY
LEASE/PURCHASE AGREEMENT
WHEREAS, the Santa Clarita Public Financing Authority (the "Authority") is a Joint
Powers Authority (a public body, corporate and politic) duly created, established, and
authorized to transact business and exercise its powers, all under and pursuant to the Joint
Exercise of Powers Act (Articles 1 through 4 of Chapter 5, Division 7, Title 1 of the California
Government Code), including the power and authority to assist the City of Santa Clarita,
California (the "City"), with the acquisition and construction of various public facilities for the
use, benefit, and enjoyment of the public; and
WHEREAS, the City has requested the assistance of the Authority to finance a portion
of the acquisition cost of certain real property (the "Property") to be developed as an employee
parking lot for the City (the "Project") through the execution and delivery of a Fixed Rate Real
Property Lease/Purchase Agreement (the "Lease Agreement") to Zions First National Bank (the
"Purchaser") pursuant to the Agreement; and
WHEREAS, the City will lease to the Authority its interest in the Property pursuant to
a Site Lease and the Authority, concurrently with the execution of the Site Lease, and will
leaseback the Property to the City, pursuant to the Lease Agreement, in consideration for base
rental payments; and
WHEREAS, the documents below specified have been filed with the Authority and the
members of the Board of the Authority, with the aid of its staff, have reviewed said documents;
NOW, THEREFORE, it is hereby resolved by the Board of the Santa Clarita Public
Financing Authority as follows:
SECTION 1. The below enumerated documents (collectively, the Transaction
Documents") are hereby approved, and a Responsible Officer (as defined below) is hereby
authorized and directed to execute the Transaction Documents in substantially the forms
hereto presented, with such revisions, amendments, and completions as shall be approved by
such Responsible Officer, with the advice of City Attorney of the City, such approval to be
conclusively evidenced by the execution and delivery by such Responsible Officer. A
Responsible Officer shall include any member of the Board, the Executive Director, the
Treasurer or any officer of the Authority designated by the President or the Executive Director
as a Responsible Officer, and the Secretary is hereby authorized and directed to attest to such
official's signature.
(a) the Site Lease, by and between the City, as lessor, and the Authority, as lessee,
pursuant to which the Authority will lease the Property from to the City;
(b) the Lease Agreement, by and between the Authority, as lessor, and the City, as
lessee (the "Lease Agreement"), pursuant to which the Authority will leaseback the
Property to the City; and
SECTION 2. Any Responsible Officer of the Authority, and each of them, is hereby
authorized and directed to execute and deliver the Transaction Documents and any and all
other documents and instruments and to do and cause to be done any and all acts and things
necessary or proper for carrying out the transactions contemplated by this Resolution.
SECTION 3. This Resolution shall take effect from and after the date of its passage and
adoption.
PASSED, APPROVED AND ADOPTED this 26th day of March, 2002.
ATTEST:
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss.
CITY OF SANTA CLARITA )
I, Sharon L. Dawson, CMC, Secretary of the Santa Clarita Public Financing Authority,
do hereby certify that the foregoing Resolution was duly adopted by the Board of the Santa
Clarita Public Financing Authority, at a meeting thereof, held on the 26th day of March, 2002,
by the following vote of the Board:
AYES: MEMBERS: Darcy, Kellar, Weste, Ferry
NOES: MEMBERS: Smyth
ABSENT: MEMBERS: None
council \Parking Lot Reso I.doc