R-7110
. ~ .
-~
e .
CA:RMM:lmd083/hpw
CIty Councll MeetIng 10-22-85 Santa MonIca, Callfornla
RESOLUTION NUMBER 7110 (CCS)
-
(CIty Councll SerIes)
RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF SANTA MONICA DECLARING ITS INTENTION TO
ISSUE REVENUE BONDS (YMCA PROJECT)
WHEREAS, on October 1,. 1985, the Clty Councll of the CIty
of Santa Monlca adopted Ordlnance Number 1345 (CeS] (the
"Ordlnance"] specIfY1ng the powers and procedures for the
Issuance of revenue bonds to flnance faCIlItIes for part1cIpatIng
part1es In the Clty of Santa MOnICa: and
WHEREAS, the Santa Monlca Famlly YMCA [the "YMCA"] has
flIed an appllcatlon wlth the CIty far fInanCIng asslstance
pur<;uant to the OrdInance ,; and
WHEREAS, the CIty CounCIL WIshes to declare lts IntentIon
to prOVIde such aSSIstance, subJect to certaIn condltlons,
follOWIng the effectIve date of the Ordlnance,
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA
MONICA DOES RESOLVE AS FOLLOWS:
- 1 -
------- ------- ------ -------
-
.
. . ....-~ e
.
SECTION 1. The Clty Councll of the Clty of Santa Monlca
hereby declares ltS lntentlon to asslst In flnanclng the
acguls1tlon and constructlon of lmprovements and addltlons to the
YMCA facllltles located In the Clty of Santa Monlca, lncludlng,
Wl thout 11mltatlon, a subterranean parklng structure, gymnaslum,
sWlmm1ng pool] handball/racquet ball courts and locker rooms, and
the remodellng of eXlstlng facllltles] through the lssuance and
sale of revenue bonds 1n a prlnc1pal amount not to exceed
$4,000,000.
SECTION 2. The l"suance and sale of such revenue bonds
sha 11 be upon such terms and condltlons as may be mutually agreed
upon by the Clty and the YMCA, and shall be authorlzed by
resolutlon of the Clty Councll of the Clty of Santa Mon1ca at a
meetlng to be held for '3uch purpose on or after the effectlve
date of the Ordlnance.
SECTION 3. The Clty Clerk shall certlfy to the adoptlon
of thlS Resolutlon, and thenceforth and thereafter the same shall
be 1n full force and effect.
APPROVED AS TO FORM:
~\-.~~
ROBERT M. MYERS
Clty Attorney
- 2 -
<- . -~
e .
Adopted and approved thIs 22nd day of October, 1985.
V~~ t~,~
/ - Mayor . . ..
I hereby certify that the foregoIng Resolution No. 7110(CCS)
was duly adopted by the City Council of the City of Santa Monica
at a meeting thereof held on October 22, 1985 by the following
Council vote:
Ayes: Councllmembers: Conn, Epstein, Jennings, A. Katz,
H. Katz, Zane and Reed
Noes: Coun c ilmembers: None
AbstaIn: Councilmembers: None
Absent: Councllmembers: None
-"- '- ~ .
ATTEST: ... , -
-~
" - '- -
~~-~
. .
. .
.... -. --~-
. .. I I' I r. I ,__
Ci ty Clerk-. -._
- -
-
- ~
--~~------- ---~~ -- ---