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RESOLUTION NO. 87-265
A RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF
THE CITY OF SAN BERNARDINO AUTHORIZING AND
DIRECTING THE EXECUTION OF CERTAIN CORRESPONDENCE
AUTHORIZING THE ASSIGNMENT OF INTERESTS IN THE
PROPOSED HOTEL AND CONVENTION CENTER PROJECT.
BE IT RESOLVED BY THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN
BERNARDINO AS FOLLOWS:
Section 1. The Mayor and Common Council hereby approve that certain
correspondence from the City of San Bernardino (the "City") and the
Redevelopment Agency of the City of San Bernardino (the "Agency") to
Mitsubishi International Corporation (the "Assignment Letter"), as attached
hereto as Exhibit "A" and incorporated herein by reference. The Mayor and
Common Council are hereby authorized and directed to execute the Assignment
Letter, with such nonsubstantive changes thereto as may be approved by the
Mayor and the City Attorney.
Section 2. This Resolution shall take effect upon adoption.
I HEREBY CERTIFY that the foregoing resolution was duly
adopted by the Mayor and Common Council of the City of San
Bernardino at a regular
meeting thereof, held on
day of
August, 1987, by the following vote, to
the 3rd
wit:
AYES:
Council Members
EsrrnOn
R~illYl
Flnrp~
.
Pope-LudJam MillAr
NAYS: rllllnr; 1 MemOer5 Mauds] e.y Mi nor
ABSTAIN: None.
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, Ci ty C1 erk
The foregoing resolution
day of Augllst: , 1987.
approved this
Approved as to form:
City Attorney
0811S
XEROX T~COP I ER 295; 8- 3-87; 9: 27 AM;
2135561366 +
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Augu. t /.i., 1987
Nit.ubl.hi International .corporation
333-South Hope Str..t
Suite 2500
Loa Angel.., California 90071
Re: Owner Participation and Development AGr.ement
among the City of San Bernardino, the Redevelopment
Agency of the City of San Bernardino and Maruko, Inc.
dtted Julv 20. 1987 (the "Aareement")
Gentlemenz
Thi. letter shall constitute the approval by the undersigned
to the as.ignment of the (a) A~reementt and (b) the Operating
Ayreement, a. .uch term is defined in the Agreement, by you to
( ) Maruko, Inc., or (ii) any corporation, partnership or other
entity which il controlled by Maruko, Inc. or of which Maruko,
Inc. owns greater than. 50' equity or voting inter.at (collec-
tively the -As.ign..").
This approval shall constitute the approval by the under-
signed of the Assignee required pursuant to Section 6.5(b) of the
Agreem.nt, Section 12.1(.' of the Operating Agreement, and pursu-
ant to any and all other docum.nta executed and delivered in con-
nection with the Development Agreement and the Operating Agree-
anent.
APIOV!D AS TO PORM
AND ~BGAL CONTENT,
Very truly yours,
THE CITY OF SAN BERNARDINO
IYli:~{l~
James Penman,
City Attorney
Exhibit "A"
8- 3-87; 9:28 AM;
Auguat Lt., 1987
pag. 2
APPROVED AS TO PORM:
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THE REDEVELOPMENT AGENCY OF
THE CITY 0' SAN 8!RNARDINO
By.
Glenda Saul, Secretary