O2041
ORDINANCE NO. 2041
(CCS)
(CITY COUNCIL SERIES)
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY
OF SANTA MONICA APPROVING CERT AIN LEASE
AGREEMENTS
WHEREAS, the Redevelopment Agency of the City of Santa Monica (the "Agency")
owns certain property (the "Agency Property") which it currently leases to the City of Santa
Monica (the "City") pursuant to an Amended and Restated Lease and Option to Purchase, dated
as of October 1, 1992 (the "Existing Agency Lease"), by and between the Agency and the City;
WHEREAS, the City and the Agency desire to amend and restate the Existing Agency
Lease in order to enable the City to lease the Agency Property from the Agency, and the Agency
to lease the Agency Property to the City, pursuant to an amended and restated lease agreement
(the "Amended and Restated Agency Lease"), by and between the City and the Agency;
WHEREAS, the base rental payments to be made by the City pursuant to the Amended
and Restated Agency Lease will be used by the Agency for payment of principal of or interest on
the Agency's bonds, notes or other evidences of indebtedness;
WHEREAS, the Agency constitutes a "public leaseback corporation," as such term is
defined in subsection (c) of Section 54240 of the California Government Code;
WHEREAS, the Amended and Restated Agency Lease constitutes a "public leaseback,"
as such term is defined in subsection (b) of Section 54240 of the California Government Code;
WHEREAS, the Parking Authority of the City of Santa Monica (the "Authority") owns
certain property (the "Authority Property") which it currently leases to the City pursuant to a
Lease and Option to Purchase, dated as of October 1, 1992 (the "Existing Authority Lease"), by
and between the Authority and the City;
WHEREAS, the City and the Authority desire to amend and restate the Existing
Authority Lease in order to enable the City to lease the Authority Property from the Authority,
and the Authority to lease the Authority Property to the City, pursuant to an amended and
restated lease agreement (the "Amended and Restated Authority Lease"), by and between the
City and the Authority;
WHEREAS, the base rental payments to be made by the City pursuant to the Amended
and Restated Authority Lease will be used by the Authority for payment of principal of or
interest on the Authority's bonds, notes or other evidences of indebtedness;
WHEREAS, the Authority constitutes a "public leaseback corporation," as such term is
defined in subsection (c) of Section 54240 of the California Government Code;
DOCSLA1:407767.1
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WHEREAS, the Amended and Restated Authority Lease constitutes a "public
leaseback," as such term is defined in subsection (b) of Section 54240 of the California
Government Code;
WHEREAS, Section 54241 of the California Government Code provides that no public
lease back, the term of which will exceed five years or more, shall be entered into until the act of
entering into a formal agreement with the public leaseback corporation shall have been approved
by ordinance; and
WHEREAS, the City desires to approve, by this Ordinance, the act of entering into
Amended and Restated Agency Lease and the act of entering into the Amended and Restated
Authority Lease;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA
MONICA DOES ORDAIN, AS FOLLOWS:
Section 1. The act of entering into the Amended and Restated Agency Lease is hereby
approved.
Section 2. The act of entering into the Amended and Restated Authority Lease is hereby
approved.
Section 3. Any provision of the Santa Monica Municipal Code or appendices thereto
inconsistent with the provisions of this Ordinance, to the extent of such inconsistencies and no
further, are hereby repealed or modified to that extent necessary to affect the provisions of this
Ordinance.
Section 4. If any section, subsection, sentence, clause, or phrase of this Ordinance is for
any reason held to be invalid or unconstitutional by a decision of any court of any competent
jurisdiction, such decision shall not affect the validity of the remaining portions of this
Ordinance. The City Council hereby declares that it would have passed this Ordinance, and each
and every section, subsection, sentence, clause or phrase not declared invalid or unconstitutional
without regard to whether any portion of this Ordinance would be subsequently declared invalid
or unconstitutional.
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Section 5. The Mayor shall sign and the City Clerk shall attest to the passage of this
Ordinance. The City Clerk shall cause the same to be published once in the official newspaper
within 15 days after its adoption. This Ordinance shall become effective after 30 days from its
adoption.
APPROVED AS TO FORM:
1iu ~ ~utftL1/J;t ~
M~rsha Jones MoutIJ1e, City Attorney
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Adopted and approved this 5th day of March, 2002.
State of California )
County of Los Angeles) ss.
City of Santa Monica )
I, Maria M. Stewart, City Clerk of the City of Santa Monica, do hereby certify that the
foregoing Ordinance No. 2041 (CCS) had it's introduction on February 26. 2002 and
was adopted at the Santa Monica City Council meeting on March 5. 2002 by the
following vote:
Ayes: Council members: O'Connor, Bloom, Genser, Mayor Pro Tem McKeown,
Mayor Feinstein
Noes:
Councilmembeffi: None
Abstain: Council members: Holbrook
Absent: Council members: Katz
ATTEST:
~<~J-
Maria M. Stewart, City Cli('"k