HomeMy WebLinkAboutCity Council - 4417 RESOLUTION NO. 4417
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
HUNTINGTON BEACH AUTHORIZING THE EXECUTION OF AN
AGREEMENT INDEMNIFYING THE PUBLIC FACILITIES "
CORPORATION FOR ANY LIABILITIES WHICH MAY BE
INCURRED BY THE POSSIBILITY OF CITY'S INADEQUATELY
INSURING THE CIVIC CENTER AND NEW LIBRARY
WHEREAS, the City Council of the City of Huntington Beach
has entered into Lease/Sublease Agreements with the Public
Facilities Corporation dated January 15, 1972 for the civic
center and September 1, 1972 for the new library; and
Section 5 of both documents provides that the City shall
pay insurance premiums as part of the rent,
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Huntington Beach that it hereby authorizes and directs
the Mayor and City Clerk to execute the attached agreement which
holds the Public Facilities Corporation harmless by reason of
the failure of the City to purchase and maintain all insurance
required by said Lease/Sublease Agreements .
PASSED AND ADOPTED by the City Council of the City of
Huntington Beach at a regular meeting thereof held on the 22nd
day of February, 1977 .
ATTEST:
Alicia M• Wentworth
City Clerk Mayor
Deputy City Clerk
REVIEWED AND APPROVED AS APPROVED AS TO FORM:
INITIATING DEPARTMENT:
ity Administrator y Attorn CT
JG: cs
Y.
AGREEMENT
THIS AGREEMENT is entered into this day of
, 19772 by and between the HUNTINGTON BEACH
PUBLIC FACILITIES CORPORATION, hereinafter referred to as
the "Corporations', and the CITY OF HUNTINGTON BEACH, a municipal
corporation duly organized and existing by virtue of a charter
adopted pursuant to the Constitution of the State of California
in the State of California, hereinafter referred to as the "City. "
W I T N E S S E T H
WHEREAS, the City and the Corporation have hereto-
fore entered into leases and subleases dated January 15, 19725
and September 1, 1972, for the purpose of constructing and
financing of a City Hall, Police Building, and Library Building
and related facilities; and
WHEREAS under the terms of such base and sublease,
the corporation has caused to be issued its bonds for the
purpose of financing such facilities; and
WHEREAS, the Corporation has executed indentures
and deeds of trust dated January< 15, 1972, and September 1, 1.9'(2
with the Bank of America National Trust and Savings Association
as Trustee with regard to both indentures, and
WHEREAS, by the terms of the leases and the inden-
tures, Corporation is required to secure various policies of
insurance, to wit, such policies of insurance being required
by identical Section 6 in the leases referred to and Covenant
No. 10 in bath indentures of mortgage and deeds of trust; and
JG: er I
2/8/77
IiIIEREAS, the cost of said insurance is required to
be borne by City; and
WHEREAS, City desires to have the insurance required
by the leases and indentures and deeds of trust procured by City
NOW, THEREFORE, the parties agree as follows:
1 . Subject to insurance policies being obtainable
on the open market from reputable insurance companies, and subject
to deductible Limits in insurance policies where the amount of
the deductible, in the opinion of the City, is deemed reasonable,
the City agrees to purchase and continuously maintain at all times
all necessary policies of insurance from reputable insurance
companies required pursuant to the following:
a. Huntington Beach Public Facilities Corporation
and City of Huntington Beach Civic Center Lease and Sublease,
dated as of January 15, 1972
b. Huntington Beach Public Facilities Corporation
and City of Huntington Beach Library Lease and Sublease, dated as
of September 1, 1972;
c . Indenture of Mortgage and Deed of Trust by
and between Huntington Beach Public Facilities Corporation and
Bank of America National Trust and Savings Association, dated
as of January 15, 1972 and
d. Indenture of Mortgage and Deed of Trust by
and between Huntington Beach Public Facilities Corporation and
Bank of America National Trust and Savings Association, dated
as of September 1, 1972.
2.
Aw
2. City agrees that it will carry loss payable
endorsements in favor of the Bank of America National Trust
and Savings Association as Trustee when required, and it
further shall comply with all terms of the indentures and
deeds of trust referred to in Section l(c) and (d) of this
Agreement with regard to notice and depositing with Trustee
of the appropriate policies and evidence of payment of premiums .
3. City further agrees to indemnify and hold
harmless Corporation, members of the Board of Directors of
Corporation, and the Bank of America National Trust and Savings
Association as Trustee for any loss or damage, including
attorneyts fees, by reason of the failure of City to purchase
and maintain all insurance required by those instruments re-
ferred to in Section 1 of this Agreement and for the amounts
of the deductibles stated in Section l of this Agreement.
4 . Corporation agrees that it will not indepen-
dently, without consent of City, negotiate directly for the
insurance required pursuant to those documents referred to
in Section l of this Agreement.
IN WITNESS WHEREOF, the Corporation has caused
this Agreement to be executed by its duly authorized officers
and the City has caused this Agreement to be executed by the
Mayor of said City and attested by the City Clerk thereof,
as of the day and year first above written.
HUNTINGTON BEACH PUBLIC
FACILITIES CORPORATION
Y:yV
L,
en
ltx
/Z 7,
(Seal) ecrey
3.
CITY OF HUNTINGTON BEACH
ATTEST:
Alicia M. Wentworth By2.4 1
City Clerk Mayor
Deputy City Clerk �
REVIE' ED AND ;APPROVED: APPROVED AS TO FORM:
Ci y Administrator City GQrney
INITIATED AND APPROVED AS TO CONTENT;
e o 4417
Res. N
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) as:
CITY OF HUNTINGTON BEACH )
I, ALICIA M. WENTWORTH, the duly elected, qualified City
Clerk of the City of Huntington Beach, and ex-officio Clerk of the
City Council of said City, do hereby certify that the whole number of
members of the City Council of the City of Huntington Beach is seven;
that the foregoing resolution was passed and adopted by the affirmative
vote of more than a majority of all the members of said City Council
at a regular meeting thereof held on the 22na day
of February , 19 77 , by the following vote:
AYES: Councilmen:
Bartlett, Pattinson, Coen, Gibbs, Siebert, °Wieder
NOES: Councilmen:
None
ABSENT: Councilmen:
Shenkman
Alicia M. Wentworth
City Clerk and ex-officio Clerk
of the City Council of the City
of Huntington Beach, California
By
Gam,
Deputy City Clerk