HomeMy WebLinkAboutReso 75-1989 RESOLUTION NO. 75-89
CITY COUNCIL, CITY OF SOUTH SAN FRANCISCO' STATE OF CALIFORNIA
A RESOLUTION AUTHORIZING EXECUTION OF
DOCUMENTS PERTAINING TO THE CALIFORNIA
HEALTH FACILITIES FINANCING AUTHORITY
REVENUE BONDS (MAGNOLIA SENIOR CENTER)
WHEREAS, the City Council has determined that need exists for the acquisition
and construction of the Project described in the Lease Agreement between this
City as Lessee and the California Health Facilities Financing Authority as Lessor;
and
WHEREAS, the City Council has taken the necessary steps to arrange as agent
of the Authority with the Project Price of Five Hundred Sixty Three Thousand
Dollars ($563,000) for the acquisition and construction of such Project under
the Agreement; and
WHEREAS, in consideration for the financing of the Project the City Council
has agreed to lease pursuant to the Site Lease the Demised Premises, as defined
in the Site Lease to the Authority; and
WHEREAS, the Lessee pursuant to the Agreement will lease the Demised Premises
and the Health Facilities, described in the Agreement, from the Authority and
agree to pay Rental Payments therefor.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of South San
Franciscoithat it shall lease the Demised Premises and the Health Facilities
to the Authority pursuant to the Site Lease as finally executed and that it
shall lease the Demised Premises and the Health Facilities from the Authority
pursuant to the Agreement as finally executed.
BE IT FURTHER RESOLVED by the City Council that it finds that the terms of
the Agreement, of the Site Lease, and of all Collateral Documents presented for
review are in the best interests of this City and are hereby approved and the
Council authorizes Jesus Armas, City Manager, to execute in substantially the
form presented to this City Council, all required documents, with such changes
as may be!necessary. The City Council further authorizes the proper officers,
agents and employees of this City to take any and all actions and execute,
acknowledge and deliver any and all agreements, instruments or other documents,
as may in!their discretion be deemed necessary or desirable to acquire,
construct)or install the Project, and to carry out and comply with the terms,
provision~ and intent of this Resolution and the Agreement, the Site Lease
and the COllateral Documents and any other agreements, instruments or documents
entered into in conection with any of the foregoing.
I hereby certify that the foregoing Resolution was regularly introduced
and adopted by the City Council of the City of South San Francisco at a
regula~ meeting held on the 14th day of June
, 1989, by the
following
AYES:
NOES:
ABSTAIN:
ABSENT:
vote:
Council'members Mark N. Addiego, Richard A, Haffev. Gus Nicolopulos.
and Mayor Roberta Cerri Teqlia
None
None
Councilmember Jack Drago
' City C ler~( ~/
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