HomeMy WebLinkAboutCC Res 3164 1982-06-14
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RESOLUTION NO. .:3/"1
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF SEAL BEACH, CALIFORNIA, DECLARING ITS INTENTION
TO AUTHORIZE THE ISSUANCE OF REVENUE BONDS.
WHEREAS, the City of Seal Beach (the "Issuer"), a body politic and corporate
and a political subdivision of the State of California, is authorized
and empowered by the provisions of the Marks Historical Rehabilitation
Act of 1976 (the "Act"), to finance a project, as that term .is defined
in the Act, and to issue its industrial revenue bonds for the purpose
of paying the cost of financing a project; and
WHEREAS, Newman Brettin Properties has requested the Issuer to issue and sell
its industrial revenue bonds pursuant to provisions of the Act for
the purpose of financing the historical rehabilitation of the Old City
Hall, which constitutes a project, as that term is defined in the Act
for Newman Brettin Properties; and
WHEREAS, the Issuer wishes to declare its intention to authorize an issue of
its industrial revenue bonds for the purpose of paying the cost of
financing the Project, when so requested by Newman Brettin Properties,
upon such terms and conditions as may then be agreed upon by the
Issuer and Newman Brettin Properties.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Seal Beach,
California, that it does hereby declare its intention to authorize the issuance
and sale of industrial revenue bonds under and in accordance with the Act, in
such an amount necessary to pay the cost of the Project as described in the
"Appraisal of the Former City of Seal Beach City Hall & Fire Station; April 9,
1981" prepared by Donahue and Company, Inc.. presently estimated to be $1,075,000,
and upon such terms and conditions as may be mutually agreed upon by the Issuer
and Newman Brettin Properties, the issuance and sale of such bonds to be authorized
by resolution of the Issuer at a meeting to be held for such purpose.
PASSED, APPROVED AND ADOPTED by the City counc~~~the Cit~~al.Beach.
i~~~~O~~i~hea~O~l:~~~n~o!?reOf held t the JLJ day;)~_, ,
AYES, C,"""_""~M' 1I,#r..pyt.} ~, If": '~Mf.+fuA~
NOES: Councilmembers ~ or )
ABSENT: Council members /~~
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Mayor ~