SR-211-016
T.A-d-f. of '~J:).-'".r ~~(J
~anta Monica, california,4Ifnuary 12, 19B2
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12/29/81
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JAN
1 2 1982
TO, ~ayor and City Council
FROM: City Staff
SUBJECT: Attached Resolution Setting Parking Structures
Rental Charge for Fiscal Year 1981-82
Introduction
This report transmits a resolution setting parking structures
rental charges for fiscal year 1981-82 as authorized by
Covenant 4 of Contract 11)88 (CCS) between the City of Santa
Monica and the parking Authority.
B_ackg round
Each year the Ci ty of Santa rAon ica IS requi red to pay the
Parking Authority S4~3,8~O for the lease of parking
structures.
These funds are utilized by the parking
Authority to pay the current year expense on the outstanding
bonds issued to construct the parking structures. The
outstanding parking Authority Bonds at present are
$4,655,000.
In past years when additIonal funds accumulated
In the Parking Authority Fund, the annual payment for leasing
the parking structures from thE' Parking Authority was
reduced.
This resolution will reduce the amount to be paid
from the General Fund from s4~3,8~O to 5395,81)0 for FY
19~1-82 and each following fIscal year.
Funds are currently
available in the parking Authority Fund to meet this
obligation.
In addition, $19'),8')0 was approved in the FY
81-8'- General Fund budget for this payment to the parking
Authority.
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JAN 1 2 1982
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To: Mayor and CIty Council
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January 12, 1982
Recommendation
Staff recommends that the City Council approve this
resolution recucing the annual rental charge for the parking
structures from S463,8tiO to $':l9!S ,8l10 for FY 81-8? and each
following fiscal year.
Prepared By: Nick Rives
Thomas Morton
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DISTRIBUTION OF RESOLUTION 4
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ORDINANCE if
Cauncll Meeting Date
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Introduced:
Agenda Item if
Adopted:
Was it amended?
* ALWAYS PliBLISH ADOPTED ORDINANCES
VOTE: Affirmative'
Negatlve:
Abstain:
Absent:
DISTRIBUTION:
ORIGINAL to be signed, sealed and filed in Vault.
NEWSPAPER PUBLICATION (Date: )
Department originating staff report (ki\a/tG~ )
City Attorney (those with their codes)
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Agency mentloned in document or staff report
(certifled?)
Subject file (agenda packet)
Counter file
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SEXD FOUR COPIES OF ALL ORDINfu~CES TO:
CODFD SYSTEMS, Attn Peter Maclearie
PROFESSIONAL CENTER, RQUTE 71
BRlELLE, XEW JERSEY 08730
SEND FOUR COPIES OF ATL ORDPJAXfrF.C::; _TO:
PRESIDI~G JUDGE
SA~TA MO~ICA ~UNICIPAL COURT
1725 14.il~ STREET
SANTA ~ONICA, CA 90401
TOTAL COPIES
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RECORDING REQUESTED BY CITY OF SANTA MONICA
WITHOUT CHARGE PURSUANT TO GOVERNMENT CODE
SECTION 6103
WHEN RECORDED RETURN TO:
CITY CLERK
City Hall
1685 Main Street
Santa Monica, California 90401
AMENDMENT TO LEASE AGREE~ENT
This Amendment to Lease Agreement, Contract Number 1~88
(CCS), entered into this
day of
, 198_, by
and between the CITY OF S~NTA MONICA, a municipal corporation
(hereinafter "CITY"), and the PARKING AUTHORITY OF THE CITY
OF SANTA MONICA, a public body (hereinafter "AUTHORITY"), is
made with reference to the following:
R Eel TAL s:
A. The
and AUTHORITY entered into a Lease
CITY
Agreement, Contract Number 1~88 (CCS), on February 15, 1966.
B. The CITY and AUTHORITY desire to amend the Lease
Agreement to adjust the rental rate provided for therein.
C. The amendment hereby agreed to will not impair or
reduce the security of the holders of the bonds of the
AUTHORITY issued pursuant to Resolution Number 110 (PAS) of
the AUTHORITY.
NOW, THEREFORE, it is mutually ag reed by and between
CITY and AUTHORITY as follows:
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1. Section 5 of the Lease Agreement, Contract Number
1688 (CCS) is hereby amended as follows:
Sectio n 5.
Lease of Parcels with
Completed Structures.
The City agrees to pay rent on
parcels A through F with completed
structures thereon in the amount of Four
Hundred, Sixty-Three Thousand, Eight
Hundred Sixty Dollars ($463,81)0.00) per
year commencing on July 1, 1974.
Rental
shall be paid semi-annually in advance on
July 1st and January 1st of each year.
Notwithstanding the above, during
fiscal year 1981-82 and each following
fiscal year, the City shall pay as and
for rent on parcels A through F, with
completed structures thereon, the amount
of Three Hundred, Ninty-Six Thousand,
Eight Hundred Sixty Dollars ($391),860.00)
per year payable semi-annually in advance
on July 1st and January 1st of each year.
2. Except as expressly modified herein, all other terms
and covenants set forth in the Lease Agreement, Contract
Number 1~88 (CCS), shall remain the same and shall be in full
force and effect.
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IN WITNESS WHEREOF, the parties hereto have caused this
Amendment to Lease Agreement to be executed on the day and
year first above written.
CITY OF SANTA MONICA,
a municipal corporation
By
JOHN H. ALSCHULER, JR.
City Manager
ATTEST:
City Clerk
PARKING AUTHORITY OF THE
CITY OF SANTA MONICA,
a public body
By
Chairperson
ATTEST:
Clerk
APPROVED AS TO FORM:
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Robert M. Myers \J
City Attorney
(CONTl~88/122881)
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12/28/81
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RESOLUTION NO.
6419
(City Council Series)
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF SANTA MONICA AMENDING SECTION 5
OF CONTRACT NO. 1688 (CCS)
WHEREAS, the balance of the reserve fund is equal
to the maximum amount of annual debt service on new revenue
bonds; and
WHEREAS, Contract Number 1688 (CCS) provides for a
reduction of the rental paid by the City to the parking
Authority hereunder; and
WHEREAS, the CIty and Parking Authority desires to
adjust the rental rate;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF
SANTA MONICA RESOLVES AS FOLLOWS:
SECTION 1.
The Amendment to Lease Agreement
attached hereto is hereby approved and the City Manager is
authorized to execute the same on behalf of the City of Santa
Monica.
SECTION 2.
The City Clerk shall certify to the
adoption of this resolution, and thenceforth and thereafter
the same shall be in full force and effect.
APPROVED AS TO FORM:
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ROBERT ~. MYERS J
City Attorney
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ADOPTED AND APPROVED THIS
12th
DAY
OF
January
, 1982.
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MAYOR ()
I HEREBY CERTIFY THAT THE FOREGOING RESOLUTION
NO. 6419(CCS)WAS DULY ADOPTED BY THE CITY COUNCIL OF THE
CITY OF SANTA MONICA AT A MEETING THEREOF HELD ON
January 12 , 1982 BY THE FOLLOWING COUNCIL VOTE:
AYES:
CQUNCILMEMBERS: Conn, Edwards, Jennings, Press,
Reed, lane, Mayor Yannatta Galdway
NOES:
COUNCIlMEMBERS: None
ABSENT:
COUNCILMEMBERS: None
ABSTAIN:
CQUNCIlMEMBERS: None
ATTEST:
C:l4l 7)c0~
CITY CLERK