HomeMy WebLinkAbout1992-102
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RESOLUTION NO. 92-102
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY
OF SAN BERNARDINO, ACKNOWLEDGING THE SALE OF CERTAIN
PROPERTY AND THE ASSIGNMENT OF A CERTAIN GROUND LEASE
TO THE REDEVELOPMENT AGENCY OF THE CITY OF SAN
BERNARDINO BY THE SAN BERNARDINO CIVIC CENTER
AUTHORITY, AND APPROVING THE EXECUTION OF DOCUMENTS FOR
SUCH ACKNOWLEDGEMENTS
WHEREAS, the city of San Bernardino (the "City") is a
8 charter city duly organized and existing under and pursuant to
9 the Constitution and the laws of the State of California; and
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WHEREAS, the San Bernardino Civic Center Authority (the
12 "Authority") is a public entity and agency duly organized and
13 existing pursuant to Article I, Chapter 5, Division 7, Title 1 of
14 the Government Code (commencing with section 6500); and
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WHEREAS, the Redevelopment Agency of the City of
17 San Bernardino (the "Agency") is a redevelopment agency, a public
18 body corporate and politic, duly organized and existing pursuant
19 to the Community Redevelopment Law (Part 1 of Division 24
20 commencing with section 33000) of the Health and Safety Code of
21 California (the "Community Redevelopment Law"); and
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WHEREAS, the City and the Authority entered into a
24 Lease Agreement entitled "City Hall - Exhibit Hall Ground Lease"
25 dated for convenience as of May I, 1970 (the "Ground Lease"),
26 providing that the City would lease the ground underneath the
27 City Hall and Exhibit Hall structures to the Authority; and
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1 WHEREAS, the City and the Authority entered into a
2 sublease entitled "City Hall - Exhibit Hall Facilities Sublease"
3 dated for convenience as of May 1, 1970, as amended (the
4 "Sublease"), providing that the Authority would sublease the
5 ground underneath the City Hall and Exhibit Hall structures back
6 to the City and lease the City Hall and Exhibit Hall structures
7 to the city for a period not to exceed May 1, 2006 or such
8 earlier time that certain bonds issued by the Authority to
9 finance construction of the City Hall and Exhibit Hall have been
10 retired; and
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12 WHEREAS, the Authority issued bonds to finance the City
13 Hall and Exhibit Hall construction and refunded said bonds with
14 the $6,210,000 civic Center Facilities Refunding Revenue Bonds,
15 Issue of 1972 (the "1972 Bonds"); and
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17 WHEREAS, the City seeks to terminate its former
18 obligations to the Authority under the 1972 Bonds, and through a
19 new method of financing, the city seeks to extend its rights to
20 occupy City Hall and to finance the purchase of City Hall; and
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22 WHEREAS, at the request of the City, the Agency has
23 agreed to assist in such financing and has agreed to provide for
24 the sale and delivery of certificates of Participation (the
25 "Certificates") on behalf of the City in order to fund operating
26 expenses of the city and to defease the 1972 Bonds; and
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1 WHEREAS, the Agency proposes to purchase the city Hall
2 from the Authority and assume the Ground Lease in order to
3 structure a lease transaction with the City to provide for
4 repayment of the Certificates; and
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6 WHEREAS, in order to structure the transaction, the
7 Authority has agreed to sell the City Hall to the Agency pursuant
8 to the Acquisition Agreement on file with the City Clerk; and
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10 WHEREAS, the Authority agrees to assign its rights and
11 obligations under the Ground Lease to the Agency pursuant to the
12 Assignment and Assumption Agreement on file with the City Clerk.
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14 NOW, THEREFORE, THE MAYOR AND COMMON COUNCIL OF THE
15 CITY OF SAN BERNARDINO DO HEREBY RESOLVE, DETERMINE AND ORDER AS
16 FOLLOWS:
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18 section 1. Determinations. The City hereby finds
19 that the recitals contained hereinabove are true and correct and
20 are incorporated herein as though fully set forth.
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22 Section 2. Acknowledament of Sale and Final Form of
23 Acauisition Aareement. The City hereby acknowledges the sale of
24 the Property to the Agency pursuant to and in accordance with the
25 terms of the Acquisition Agreement and Grant Deed currently on
26 file with the city Clerk. The Mayor or such other authorized
27 officer of the city is hereby authorized and directed to execute
28 and deliver, and the City Clerk is hereby authorized and directed
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1 to attest to, the final form of the Acquisition Agreement when
2 the same shall have been prepared. Such execution and delivery
3 shall be deemed to be conclusive evidence of the acknowledgement
4 thereof.
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6 section 3. Acknowledaement of Assianment and Final
7 Form of Assianment and Assumotion Aareement. The City hereby
8 acknowledges the assignment of the Ground Lease to the Agency by
9 the pursuant to and in accordance with the terms of the
10 Assignment and Assumption Agreement currently on file with the
11 City Clerk. The Mayor or such other authorized officer of the
12 city is hereby authorized and directed to execute and deliver,
13 and the City Clerk is hereby authorized and directed to attest
14 to, the final form of the Assignment and Assumption Agreement
15 when the same shall have been prepared. Such execution and
16 delivery shall be deemed to be conclusive evidence of the
17 approval thereof.
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19 section 4. Official Action. The Mayor and Common
20 Council, the city Clerk, Special Counsel and any other officers
21 of the City are hereby authorized and directed, for and in the
22 name of and on behalf of the city, to do any and all things and
23 take any and all actions which may be deemed necessary or
24 advisable in order to consummate the sale of the Property and
25 assignment of the Ground Lease. The City hereby appoints the
26 Mayor as agent of the City for purposes of executing any and all
27 documents and instruments which any officer of the City is
28 authorized to execute hereunder.
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1 RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF
SAN BERNARDINO, ACKNOWLEDGING THE SALE OF CERTAIN PROPERTY AND
2 THE ASSIGNMENT OF A CERTAIN GROUND LEASE TO THE REDEVELOPMENT
AGENCY OF THE CITY OF SAN BERNARDINO BY THE SAN BERNARDINO CIVIC
3 CENTER AUTHORITY, AND APPROVING THE EXECUTION OF DOCUMENTS FOR
SUCH ACKNOWLEDGEMENTS
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section 5.
Effective Date. This Resolution shall
6 take effect from and after the date of its passage and adoption.
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I HEREBY CERTIFY that the foregoing Resolution was duly
9 adopted by the Mayor and Common Council of the city of
10 San Bernardino at a reqular meeting
11 thereof, held on the
16th
day of
March
12 1992, by the following vote, to wit:
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Approved as to form and legal content:
24 JAMES F. PENMAN
city Attorney
~: BY~~
27 SBEOI01121DOC\22
AYES:
Council Members Estrada, Reilly, Hernandez,
Maudsley, Minor, Pope-Ludlam, Miller
NAYS:
None
ABSENT:
None
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