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HomeMy WebLinkAbout1069ORDINANCE NO. 1069 (1986 SERIES) AN ORDINANCE OF THE COUNCIL OF THE CITY OF SAN LUIS OBISPO APPROVING THE FORM AND AUTHORIZING THE EXECUTION OF A SITE LEASE AGREEMENT BETWEEN THE CITY OF SAN LUIS OBISPO AND THE SAN LUIS OBISPO CAPITAL IMPROVEMENT BOARD WHEREAS, the City of San Luis Obispo (the "City ") proposes to lease to the City of San Luis Obispo Capital Improvement Board (the "Board ") certain real property situated in the City and more particularly described in Exhibit A to the form of Site Lease, dated as of June 15, 1986, by and between the City as lessor and the Board as lessee (the "Site Lease "), including certain real property on which the Board proposes to build certain parking facilities to be leased to the City; and WHEREAS, the City proposes to lease from the Board certain real property situated in the City and more particularly described in Exhibit A to the form of Lease Agreement, dated as of June 15, 1986, by and between the Board as lessor and the City as lessee (the "Lease Agreement "), including the real property leased by the City to the Board pursuant to the Site Lease and the real property including certain public parking facilities and police station facilities; and WHEREAS, the City is required by Article 9 of Chapter 5 of Part 1 of Division 2 of the California Government Code (commencing with Section 54240 of said Code) to approve the Lease Agreement by ordinance which is subject to referendum; BE IT ORDAINED BY THE COUNCIL OF THE CITY OF SAN LUIS OBISPO: SECTION 1. Findings and Determinations. The City Council of the City of San Luis Obispo hereby finds and determines that it is a municipal affair and for the common benefit of the City and its residents and is necessary and proper for municipal purposes that the City enter into the Site Lease and the Lease Agreement with the Board. ffliff 1.•i Ordinance No.1069 (1986 Series) Page 2 SECTION 2. Approval of Site Lease. The City Council hereby approves, and authorizes and directs the City Administrative Officer to execute and the City Clerk to attest and affix the seal of the City to, the Site Lease in substantially the form thereof on file with the City Clerk, together with any changes as may be approved by the City Administrative Officer and which do not materially affect the substance or materially increase the obligations of the City. SECTION 3. Approval of Lease Agreement. The City Council hereby approves, and authorizes and directs the City Administrative Officer to execute and the City Clerk to attest and affix the seal of the City to, the Lease Agreement in substantially the form thereof on file with the City Clerk, together with any changes as may be approved by the City Administrative Officer and which do not materially affect the substance or materially increase the obligations of the City. The lease payments to be made by the City under the Lease Agreement in any fiscal year shall not exceed $1,600,000.00; provided, however, that the schedule of lease payments to be made by the City to the Board under the Lease Agreement shall be reduced as necessary to conform to the schedule of principal and interest payments determined upon the sale of the Lease Revenue Bonds to be issued by the Board and secured by an assignment by the Board of certain of its rights under the Lease Agreement. Ordinance No. 1069 (1986 Series) Page 3, SECTION 4. Official Actions. The Mayor, the City Administrative Officer, the Finance Director, the City Clerk, the City Attorney and any and all other officers of the City are each authorized and directed in the name and on behalf of the City to make any and all assignments, certificates, requisitions, agreements, notices, consents, instruments of conveyance, warrants and other documents, which they or any of them might deem necessary or appropriate in order to consummate the lawful issuance, sale and delivery of the Bonds by the Board and the execution and delivery of the Site Lease and the Lease Agreement by the City. SECTION 5. Effective Date of Ordinance. This Ordinance shall become effective thirty (30) days from and after the date of its final passage. This Ordinance shall be subject to referendum pursuant to and as provided in Section 54241 of the Government Code of the State of California and the laws of the State of California. The City Clerk shall certify to the adoption of this Ordinance, and shall cause this Ordinance to be published as required by Section 602 of the City Charter. SECTION 6. A Summary of this Ordinance, approved by the City Attorney, together with the ayes and noes, shall be published at least five (5) days prior to its final passage in the Telegram- Tribune, a newspaper published and circulated in said City, and the same shall go into effect at the expiration of thirty (30) days after its said final passage. A copy of the full text of this Ordinance shall be on file in the Office of the City Clerk for review. Ordinance No. 1069 (1986 Series) Page _4 INTRODUCED AND PASSED TO PRINT by the Council of the City of San Luis Obispo, at its meeting held on the 27th day of May, 1986, on motion of Councilman Settle , seconded by Councilwoman Rappa and on the following roll call vote: AYES: Councilmembers Settle, Rappa, Dovey, Griffin and Mayor Dunin NOES: None ABSENT: None YOR RON DUNIN ATTE Cl We Clerk Pam VowX Tj City At Director o U� ldV' UV���/� t ���'G:1- . ".-��� /�i.�� (� j�FZto `,�/L�i Cad/ J v �'� -�a �- ORDINANCE NO. 1069 (1986 Series) FINALLY PASSED this 10th day of June , 1986, on motion of Councilman Griffin , seconded by Councilwoman Rappa and on the following roll call vote: AYES: Councilmembers Griffin, Rappa, Settle and Mayor Dunin NOES: None ABSENT: Councilwoman Dovey - -0400�1 ''Mayor Ron Dunin, ATTEST: V Cit Clerk Pamela- V es.._....,