HomeMy WebLinkAboutCity Council - 4547 RESOLUTION NO. 4547
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
HUNTINGTON BEACH DECLARING ITS INTENTION TO
ACCEPT TITLE TO A CABLE COMMUNICATIONS SYSTEM
WHEN TENDERED AND MAKING DETERMINATIONS WITH
RESPECT TO THE ORGANIZATION OF THE CITY OF
HUNTINGTON BEACH PUBLIC CABLE TELEVISION COR-
PORATION AND THE BONDS TO BE ISSUED BY SUCH
CORPORATION
WHEREAS, it is the determination of the City Council of
the City of Huntington Beach, that the construction and opera-
tion of a cable communications system will bring long-range
advantages to the residents of Huntington Beach; and
Articles of Incorporation have been filed with the Office
of the Secretary of State of the State of California for the
City of Huntington Beach Public Cable Television Corporation
(the "Corporation" ) , a non-stock, private, non-profit corpora-
tion organized for the purpose of providing for the construction
and operation of a cable communications system in the City of
Huntington Beach; and
The Corporation intends to construct and operate or pro-
vide for the construction and operation of a cable communications
system serving the residents of the City, together with all re-
lated facilities and appurtenances , including real and personal
property, from time to time necessary and useful in the operation
thereof the "Cable Communications Facilities" ) ; and
The Corporation proposes to finance the acquisition of the
Cable Communications Facilities by the issuance of its lease
revenue bonds (the "Bonds" ) in the approximate amount of $4,000,000;
and
The City is not and shall not be responsible for the payment
of the Bonds or any other obligations of the Corporation; and
The property, assets, profits , and net revenues of the
Corporation, except such as may be used for the payment or
JG:ps 1 .
reduction of any Bonds, debentures, notes or other evidences
of indebtedness of said Corporation, are irrevocably dedicated
to the City of Huntington Beach; and
Upon retirement of the Bonds, title to the Cable Communica-
tions Facilities , all structural additions thereto, and all fix-
tures , equipment and apparatus attached thereto by the Corporation,
shall vest in the City of Huntington Beach,
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Huntington Beach; as follows :
SECTION 1. The corporate existence and purposes of the
Corporation are hereby approved.
SECTION 2. The proposed method of financing the acquisi-
tion and construction of the Cable Communications Facilities by
the issuance of Bonds by the Corporation in the amount of approxi-
mately $4,000,000, is hereby approved.
SECTION 3 . The City Council of the City of Huntington Beach
hereby agrees that the City will accept title to the Cable Com-
munications Facilities , all structural additions thereto, and
all fixtures , equipment and apparatus attached thereto by the
Corporation, upon retirement of the Bonds .
PASSED AND ADOPTED by the City Council of the City of
Huntington Beach at a regular meeting thereof held on the 17th
day of October, 1977 .
1
Mayor Pro-Tempore
ATTEST:
City Clerk
INITIATED AND APPROVED: ;APPROVED AS TO FORM:
C •
v
C ty Administrator Cit t n y
2.
Res. No. 4547
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) as:
CITY OF HUN INGTON BEACH )
I, ALICIA M. WENI'WORTH, 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 17th day
of October , 1977 by the following vote;
AYES: Councilmen:
BARTLETT, WIEDER, COEN, GIBBS, SIEBERT, SHENKMAN
NOES: Councilmen:
NONE
ABSENT: Councilmen:
PATTINSON
City Clerk and ex-officio Clerk
of the City Council of the City
of Huntington Beach, California