HomeMy WebLinkAboutCity Council - 5514 RESOLUTION NO. 5514
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF HUNTINGTON
BEACH, CALIFORNIA, APPROVING THE ISSUANCE BY THE
REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH OF
CERTIFICATES OF PARTICIPATION, OLYMPIC COMMERCE PARK
PROJECT, ISSUE OF 1985 AND THE PROJECT TO BE FINANCED
THEREBY, AND MAKING CERTAIN FINDINGS AND DETERMINATIONS
RELATING THERETO (OLYMPIC COMMERCE PARK PROJECT)
WHEREAS, the Redevelopment Agency of the City of Huntington Beach
(the "Agency") is empowered by the Community Redevelopment Law (the "Law") ,
to issue its Certificates of Participation for the purpose of financing a
project as permitted pursuant to the Law and of paying the costs of such
financing; and
The Agency is also authorized and empowered by the California
Industrial Development Financing Act (the "Act")being found in Government
Code Section 91500, et sec . , to finance certain industrial activities as
permitted by the Act and to issue bonds for the purpose of paying the cost
of such financing; and
The Agency has been requested to issue and sell its Certificates of
Participation to provide funds for the financing of a certain project (the
"Project") to be located within the City of Huntington Beach, California (the
"City"), as proposed by Warner Olympic Associates, a California general
partnership (the "Company"); and
The Agency has previously adopted its Resolution No. 94, on
November 5, 1985, to provide funds for the financing of the Project upon such
terms and conditions as may be agreed upon by the Agency, the Company and the
purchasers of the Certificates of Participation; and
The Agency, pursuant to its Resolution No. 121 , adopted on April 15,
1985, accepted the Application for Financing as submitted by the Company (the
"Application for Financing") for the purpose of providing for the financing of
the industrial use component of the Project as more fully described in said
Application for Financing; and
The Agency, pursuant to said Resolution No. 121 , determined that
the Project will be a substantial factor in the accrual of each of the public
I
enefits from the use of the industrial use component of the Project as proposed
in said Application for Financing, and the Agency has requested the City Council
to review the Application for Financing and approve said Project and the intended
financing therefor.
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of
Huntington Beach, California, as follows:
Section 1 . Approval of Project and Issuance of Certificates of
Participation. The Project and issuance of a principal amount not in excess
of $10,000,000 of the "Redevelopment Agency of the City of Huntington Beach
Certificates of Participation, Olympic Commerce Park Project, Issue of 1985" ,
for the corporate purposes of the Agency in aiding in the financing of the
Project, and for other purposes related thereto, including the industrial use
component of the Project, as such term is used in Government Code Section
91503(a) (1 ) , and as more fully described in said Application for Financing,
are hereby authorized and approved pursuant to Government Code Section 91530(f).
Section 2. Certification to the Agency. The City Clerk of the
City of Huntington Beach is hereby directed to send a certified copy of this
Resolution to the Agency pursuant to Government Code Section 91530(f) , in
addition to copies of all assessments, supporting studies, notices, certifications,
declarations and documents related to the California Environmental Quality Act
of 1970, as amended, regarding the Project.
Section 3. Conditions of Approval . The approval as herein granted
and the final approval of the industrial use component of the Project and the
financing thereof are specifically conditioned upon the City Council approving
the final environmental assessments and other environmental documents prepared
or to be prepared pursuant to the provisions of the California Environmental
Quality Act of 1970, as amended, with respect to the industrial use component
of the Project.
Section 4. This Resolution shall take effect upon adoption.
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PASSED, APPROVED AND ADOPTED this 6th day of May 1111,
a
Mayor of the City of Huntingto
Beach, California
(SEAL)
ATTEST: APPROVED AS TO FORM
ate%/ a
City Clerk of the City of Huntington City Attorney
Beach, California
REVIEWED AND APPROVED INITIATED AND APPROVED
Cli ;:d minis at Depu y Director of Redevelopment
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Res. No. 5514
STATE. OF CALIFORNIA )
COUNTY OF ORANGE ) ss:
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 6th day
of May 1985 , by the following voter
AYES: Councilmen:
Kelly$ MacAllister, Mandic, Bailey, Finlp!, Green,rlhowas
NOES: Councilmen:
None
ABSENT: Councilmen:
None
City Clerk and ex-officio Clerk
of the City Council of the City
of Huntington Beach, California