HomeMy WebLinkAbout1992-5326
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RESOLUTION NO. ~1?6
RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF
THE CITY OF SAN BERNARDINO, ON BEHALF OF THE
REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO,
CALIFORNIA, AUTHORIZING AND APPROVING THE PURCHASE OF
CERTAIN PROPERTY AND THE ASSUMPTION OF A CERTAIN GROUND
LEASE FROM THE SAN BERNARDINO CIVIC CENTER AUTHORITY,
AND APPROVING AND AUTHORIZING THE EXECUTION OF
DOCUMENTS THEREFOR
WHEREAS, the Redevelopment Agency of the ci ty of
San Bernardino (the "Agency") is a redevelopment agency, a public
body corporate and politic, duly organized and existing pursuant
to the Community Redevelopment Law (Part 1 of Division 24
commencing with section 33000) of the Health and Safety Code of
California (the "Community Redevelopment Law"); and
WHEREAS, the City of San Bernardino (the "City") is a
16 charter city duly organized and existing under and pursuant to
17 the Constitution and the laws of the State of California; and
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19 WHEREAS, the San Bernardino civic Center Authority (the
20 "Authority") is a public entity and agency duly organized and
21 existing pursuant to Article 1, Chapter 5, Division 7, Title 1 of
22 the Government Code (commencing with Section 6500); and
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24 WHEREAS, the City and the Authority entered into a
25 Lease Agreement entitled "City Hall - Exhibit Hall Ground Lease"
26 dated for convenience as of May 1, 1970 (the "Ground Lease"),
27 providing that the City would lease the ground underneath the
28 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 of 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
the $6,210,000 civic Center Facilities Refunding Revenue Bonds,
Issue of 1972 (the "1972 Bonds"); and
WHEREAS, the City seeks to terminate its former
obligations to the Authority under the 1972 Bonds, and through a
new method of financing, the City seeks to extend its rights to
occupy City Hall and to finance the purchase of City Hall; and
WHEREAS, at the request of the City, the Agency has
agreed to assist in such financing and has agreed to cause the
24 sale and delivery of certificates of Participation (the
25 "Certificates") on behalf of the City to defease the 1972 Bonds
26 and fund operating expenses and the Agency proposes to purchase
27 city Hall from the Authority and assume the Ground Lease in order
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1 to structure a lease transaction with the City to provide for
2 repayment of the Certificates; and
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4 WHEREAS, in order to structure the transaction, the
5 Authority has agreed to sell the City Hall to the Agency pursuant
6 to the Acquisition Agreement on file with the Secretary of the
7 Agency; and
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9 WHEREAS, the Authority agrees to assign its rights and
10 obligations under the Ground Lease to the Agency pursuant to the
11 Assignment and Assumption Agreement on file with the Secretary of
12 the Agency.
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14 NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY
15 DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO ON BEHALF OF
16 THE REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO AS
17 FOLLOWS:
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19 section 1. Determinations. The Agency hereby finds
20 that the recitals contained hereinabove are true and correct and
21 are incorporated herein as though fully set forth.
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23 section 2. Approval of Sale and Final Form of
24 Acquisition Agreement. The Agency hereby authorizes and approves
25 the purchase of the Property by the Agency pursuant to and in
26 accordance with the terms of the Acquisition Agreement and Grant
27 Deed currently on file with the Agency Secretary. The Agency
28 hereby approves the form of Acquisition Agreement and Grant Deed
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1 presently on file with the Agency secretary, together with any
2 changes therein or additions thereto as may be approved by the
3 Chairman when such terms and conditions have been ascertained.
4 The Agency hereby further authorizes and directs that the form of
5 Acquisition Agreement and Grant Deed presently on file with the
6 Agency Secretary be converted to a final form thereof, together
7 with any changes and modifications as deemed necessary or
8 desirable by the Chairman upon the recommendation of Special
9 Counsel. The Chairman or such other authorized officer of the
10 Agency is hereby authorized and directed to execute and deliver,
11 and the Agency Secretary is hereby authorized and directed to
12 attest to, the final form of the Acquisition Agreement and Grant
13 Deed when the same shall have been prepared. Such execution and
14 delivery shall be deemed to be conclusive evidence of the
15 approval thereof.
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17 Section 3. Aooroval of Assiqnment and Final Form of
18 Assiqnment and Assumotion Aqreement. The Agency hereby
19 authorizes and approves the assumption of the Ground Lease from
20 the Authority pursuant to and in accordance with the terms of the
21 Assignment and Assumption Agreement currently on file with the
22 Agency Secretary. The Agency hereby approves the form of
23 Assignment and Assumption Agreement presently on file with the
24 Agency Secretary, together with any changes therein or additions
25 thereto as may be approved by the Chairman when such terms and
26 condi tions have been ascertained. The Agency hereby further
27 authorizes and directs that the form of Assignment and Assumption
28 Agreement presently on file with the Agency Secretary be
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1 converted to a final form thereof, together with any changes and
2 modifications as deemed necessary or desirable by the Chairman
3 upon the recommendation of Special Counsel. The Chairman or such
4 other authorized officer of the Agency is hereby authorized and
5 directed to execute and deli ver , and the Agency Secretary is
6 hereby authorized and directed to attest to, the final form of
7 the Assignment and Assumption Agreement when the same shall have
8 been prepared. Such execution and delivery shall be deemed to be
9 conclusive evidence of the approval thereof.
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11 section 4. Official Action. The Chairman, Vice-
12 Chairman, the Agency Secretary, Special Counsel and any other
13 officers of the Agency are hereby authorized and directed, for
14 and in the name of and on behalf of the Agency, to do any and all
15 things and take any and all actions which may be deemed necessary
16 or advisable in order to consummate the purchase of the Property
17 and assumption of the Ground Lease. The Agency hereby appoints
18 the Chairman as agent of the Agency for purposes of executing any
19 and all documents and instruments which any officer of the Agency
20 is authorized to execute hereunder.
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RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF
SAN BERNARDINO, ON BEHALF OF THE REDEVELOPMENT AGENCY OF THE CITY
OF SAN BERNARDINO, CALIFORNIA, AUTHORIZING AND APPROVING THE
PURCHASE OF CERTAIN PROPERTY AND THE ASSUMPTION OF A CERTAIN
GROUND LEASE FROM THE SAN BERNARDINO CIVIC CENTER AUTHORITY, AND
APPROVING AND AUTHORIZING THE EXECUTION OF DOCUMENTS THEREFOR
section 5.
Effective Date.
The findings and
determinations shall be final and conclusive. This Resolution
shall take effect upon its adoption.
I HEREBY CERTIFY that the foregoing Resolution was duly
adopted by the Community Development Commission of the City of
Joint Regular
San Bernardino at a
meeting
16
March
thereof, held on the
day of
1992, by the following vote, to wit:
Commission Members:
AYES
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ABSTAIN
ABSENT
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X
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x
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ESTRADA
16 REILLY
HERNANDEZ
17 MAUDSLEY
MINOR
18 POPE-LUDLAM
MILLER
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~, KENNETH J. HENDERSON
The foregoing
day of M,qrch
here~ this
, Chairman
Community Dev opment commission
of the City of San Bernardino
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Approved as to form and
legal content:
By: ~)
~gency Cou el
SBEO\0l12\D0C\28
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1 STATE OF CALIFORNIA )
COUNTY OF SAN BERNARDINO )
2 CITY OF SAN BERNARDINO )
3
ss
I , KENNETH J. HENDERSON Secretary of the Communi ty
Development Commission of the City of San Bernardino, DO HEREBY
4 CERTIFY that the foregoing and attached copy of community
Development Commission of the City of San Bernardino Resolution
5 No. 5326 is a full, true and correct copy of that now on
file in this office.
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IN WITNESS WHEREOF, I have hereunto set my hand and
7 affixed the official seal of the community Development Commission
of the City of San Bernardino this 16 day of
8 March , 1992.
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sec~ the
community Development
Commission of the City of San
Bernardino