HomeMy WebLinkAboutCity Council - 3294 RESOLUTION NO. 329
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF HUNTINGTON
BEACH, CALIFORNIA, APPROVING THE CORPORATE EXISTENCE AND
PURPOSES OF THE HUNTINGTON BEACH PUBLIC FACILITIES COR-
PORATION AND APPROVING THE DIRECTORS OF SAID CORPORATION
WHEREAS, the Huntington Beach Public Facilities
Corporation was duly incorporated in accordance with the
General Nonprofit Corporation Law of the State of California
on November 27, 1970, as a non-stock, nonprofit corporation
organized for the purpose of rendering assistance to the
City of Huntington Beach in the construction of structures
and facilities necessary for the construction of' a city
administrative building, a police building, a library build-
ing and related facilities to each of such buildings; and
WHEREAS, pursuant to the provisions of the
Huntington Beach Public Facilities Corporation Lease and
Sublease (the "Lease") , said Lease being substantially in
the form attached hereto as Exhibit A, the City of Huntington
Beach proposed to lease certain real property (the °Site")
to the Corporation for a term of years and to lease back to
the City of Huntington Beach said real property as improved
by the construction of the city administrative building,
police building, library building, and related facilities
to each of such buildings, for a term of years, as is more
specifically set forth in said Lease; , and
WHEREAS, the property, assets, profits and net
revenues of the Corporation, except such as may be used for
the payment for redemption of any bonds, debentures, notes,
or other evidences of indebtedness incurred in connection
with the construction of said facilities are irrevocably
dedicated to the City of Huntington Beach; and
WHEREAS, upon the termination of the Lease,
title to the Site, as improved by the construction of said
facilities, together with all other assets of the Corporation,
shall vest in the City of Huntington Beach free and clear of
any interest on the part of the Corporation;- and
WHEREAS, the Corporation proposes to finance the
construction of said facilities by the issuance of its Lease-
hold Mortgage Bonds in the approximate amount of fifteen
million six hundred thousand dollars ($15600000) secured
by an Indenture of Mortgage and Deed of of Trust (the "Indenture")
upon the leasehold ° nterest of the Corporation, the Indenture
being substantially in the form attached hereto as Exhibit B;
NOW THER
EFORE, the CityCouncil of the City of
Y
Huntington Beach DOES HEREBY RESOLVE, DETERMINE AND ORDER
as follows
Section 1. The corporate existence and purposes
P P P
of the Huntington Beach Public Facilities Corporation are
hereby approved.
Section 2. The proposed method of financing the
construction of the city administrative building, police
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building, library building and related facilities to each
of such buildings, for public purposes, by the issuance
of bonds in an amount not to exceed $15,600,000 of the
Huntington Beach Public Facilities Corporation, substan-
tially in the form and manner as hereinabove recited is
hereby approved.
Section 3. The City Council hereby agrees that
the City of Huntington Beach will accept title to said
Site and facilities upon the termination of the Lease
Section 4. As required by the by-laws of the
Huntington Beach Public Facilities Corporation, the City
Council of the City of Huntington Beach hereby approves
the appointment of the following persons, appointed as
directors of the Huntington Beach Public Facilities Corpo-
ration on January 25, 1971:
William D. Armstrong 20522 Pier View Lane
Huntington Beach, California
Bepce Puri 16872 Phelps
Huntington Beach, California
Larry L. Curran, Esq. 8131 Waderidge Circle
Huntington Beach, California
William Ritter 7582 Nancy Drive
Huntington Beach, California
Darrell Ward 627 Main Street
Huntington Beach, California
Section 5. The City Clerk shall certify to the
passage and adoption of this resolution, shall enter the
same in the Book of Resolutions of said City, and shall
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cause the action of the City Council in adopting the same
to be entered in the official minutes of said City Council.
PASSED, APPROVED AND ADOPTED this 1st day
of March 1971.
Mayor of the City of u ington
Beach, California
ATTEST:
v ticc��
City Clerk of a City of
Huntington Beach, California
(SEAL)
APPROVED AS TO FORM:
y A � me the C1 o
Huntington Beach, fornia
STATE OF CALIFORNIA
COUNTY OF ORANGE ss .
CITY OF HUNTINGTON BEACH
I, Paul C . Jones, City Clerk of the City
of Huntington Beach, California, DO HEREBY CERTIFY
that the foregoing resolution was duly adopted, by
the City Council of said, City and, was approved, by
the Mayor of said, City at a regular meeting of said.
City Council held. on the 1st day of March, 1971,
and. that it was so adopted, as follows:
AYES: Councilmen: McCracken, Bartlett, Gibbs
Coen, Ma ney, Shipley
NOES: Councilmen: None
ABSENT: Councilmen: Green
City Clerk of e City of
Huntington Beach, California
(SEAL)