SR-414-001 (6)
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Santa Monica, Cal .fornia, April 3, 1978
TO'
Mayor and City Council
88
FROM:
City Staff
APR 1 1 1978
SUBJECT'
Ordinance Approving Lease For Parking Facil ities W.th
Redevelopment Agency - Second Reading
Background
On March 28, 1978, the Council held a public hearing and introduced an ordinance
approving the execution of a lease for the DU>Jntown Redevelop~lent Project parking
facilities with the Redevelopment Agency. This lease will serve as security for
the $3.7 million note issue of the Agency which was authorized by the Council
on March 28, 1978.
Recorrrnenda t i on
It is recommended that the Council adopt the ordinance approving the lease for
parking facilities with the Redevelopment Agency_
Prepared by: John Herner
JH.nm
Attachment
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APR 1 1 1978
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ORDINANCE NO. 1089(CC5)
(Clty Council Series)
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
SANTA MONICA, CALIFORNIA, APPROVING THAT CERTAIN
LEASE AGREEMENT ENTITLED "LEASE AGREEHENT" DATED
AS OF MAY 1, 1978, BETWEEN THE CITY OF SANTA
MONICA AND THE REDEVELOPMENT AGEH'CY OF THE CI'l'Y
OF SANTA lvlONICA
WHEREAS, the Redevelopment Agency of the City of Santa
Monlca (the "Agency") proposes to acqulre a certaln site (the
"Site") wlthln the Downtown Redevelopment ProJect and lease the
site to the Clty of Santa fJlonica (the "Clty") for use as a public
parking facillty, sald lease to be dated as of May 1, 1978 (the
"Lease"), a copy af WhlCh 1S on file with the Clty Clerk of the
City; and
WHEREAS, the Agency proposes to flnance such acquisition
through the issua~ce of revenue bonds pursuant to the Community
Redevelopment Law (Part I of D1V1S1on 24 of the Health and Safety
Code of the State of California), such bonds to be payable as to
prlncipal and interest from certaln revenues lncludlng the proceeds
of rents to be paid by the Clty under the terms of said Lease; and
WHEREAS, Article 9, Chapter 5, Part I, D1Vlsion 2, Title
5 (co~~encing with Sectlon 54240) of the Government Code of the
State of California requires that prior to entering into sa1d Lease
the Clty shall have approved lt by ordinance which shall be subject
to referendum;
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NOh', THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA
MONICA DOES HEREBY ORDAIN AS FOLLOWS:
SECTION 1. ThlS Counell hereby approves the Lease in
the form on flle wlth the City Clerk, provlded that the amount of
annual base rent payable by the Clty thereunder shall not exceed
$354,000.
SECTION 2. SubJect to the provlsions of Sectlon 1 and
subsequent to the effectlve date hereof, the Mayor lS authorlzed
and directed to execute sald Lease and the Clty Clerk lS authorized
and dlrected to attest thereto and to afflx the offlclal seal of
the Clty thereto and to cause said Lease, followlng executlon by
the Agency, to be recorded Wlth the County Recorder of Los Angeles
County.
SECTIO~: 3. Any provisions of the Santa ~lonlca Huniclpal
Code, or appendlC2S thereto inconsistent herewith, to the extent
of such inconsist~ncles and no further, are hereby repealed or modlfled
to that extent ne~essary to effect the provlslons of thls ordlnance.
SECTION 4. If any sectlon, subsection, sentence, clause
or phrase of this ordinance is for any reason held to be invalld
or unconstitutional by a deciSlon of any court of competent juris-
dlction, such decision shall not affect the validlty of the remaining
portions of the ordinance. The Clty Council hereby declares that lt
would have passed this ordinance and each and every sect lon, sub-
sectlon, sentence, clause or phrase not declared invalld or
unconstitutional wlthout regard to whether any portion of the
ordlnance would be subsequently declared invalid or unconstltutional.
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SECTION 5. The Mayor shall slgn and the City Clerk
shall attest to the passage of thlS ordlnance. The City Clerk
shall cause the same to be published once lD the offlcial news-
paper wlthln fifteen (15) days after its adoption. The orGlnanCe
shall be come effectlve after thlrty (30) days from lts adoption.
ADOPTED and APPROVED this 11th day of April_, 1978.
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l-',AYOR
ATTEST:
Q.v.'~A-r~~j~ /'-
C I W CLyK --------"
Sf(TE :F CALIFOR~IA )
COUNTY OF LOS ANGELES) 55.
CITY OF SANTA Hm~ICA )
I do he::-eby certlfy that the foregoing ordinance \,'as
duly and regularlj" introduced at a meeting of the City Council on
the 28th day of March , 1978; that thereafter the said ordinance
was duly adopted at a rr.eetlng of the City COUDCll on the 11th day
of Aprl1_, 1978; by the followlng vote of the Council:
AYES:
Councllmember: Bambrlck, Cohen, Reed, Scott, TYlVeS,
van den Steenhoven, t-layor S""lnk
NOES:
Councilmember: None
ABSENT:
Councl1l11ember:
None () .. ~~1r-
FFlURJ<
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