HomeMy WebLinkAboutPublic Facilities Corporation - 78-02 ��PLN PUBLIC�gc
Huntington Beach Public Facilities Corporation
INCORPORATED 17371 Gothard Street
2 4j
i NOVEMBER 27,1970 Huntington Beach, California 92647
ti •�a�
CAC IF ORO'
RESOLUTION NO. 78-2
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
HUNTINGTON BEACH PUBLIC FACILITIES CORPORATION
RESCINDING RESOLUTION NO. 78-1 and DIRECTING
THE TRUSTEE TO TRANSFER AN AMOUNT OF MONEY FROM
THE CONSTRUCTION FUND OF THE FIRST ISSUE
LEASEHOLD MORTGAGE BONDS.
WHEREAS , the construction of two phases of the Civic Center have
been completed, and funds will be retained in a sufficient amount
to provide for payment of remaining costs; and
WHEREAS, there exists a remainder in the Construction Fund
established by the Indenture of Mortgage and Deed of Trust,
dated January 15, 1972 , between the Huntington Beach Public
Facilities Corporation and Bank of America National Trust
and Savings Association; and
WHEREAS, the Board of Directors consider the remainder to be in
excess of projected needs for payment of remaining construction
costs , or for changes, alterations, or additions to the project;
and
WHEREAS, Section 406 of the Indenture of Mortgage and Deed of
Trust provides for optional dispositions of these funds by the
Board of Directors of the Corporation; and
WHEREAS, Resolution No. 78-1 directed the transfer of funds
exceeding that which is necessary:
NOW, THEREFORE, The Board of Directors of The Huntington Beach
Public Facilities Corporation does hereby resolve that Resolution
No. 78-1 is rescinded, and does hereby resolve that the Trustee
be requested and directed to transfer $50, 000 from the Construction
Fund of the First Issue Leasehold Mortgage Bond Funds into the
Bond Redemption Fund, on or about March 20 , 1978 , for the purpose
of effecting the requirements of Resolution No. 77-23.
PASSED AND ADOPTED at the Regular Adjourned Meeting of the
Board of Directors on February 22, 1978.
APPROVED:
i
Zerr L. Sapp, ,- esident Mary%Ellen Houseal
Sec etary/Treasurer
DATED: Z 2 ATTEST:
Donald W. Kiser
Assistant Secretary,HBPFC