R-7109
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CA:HMM:lmd082/hpW
CIty COlln(:ll MPetIng 10-22-8'1 Sant.a Mon1.Ca, Cal1.tornla
RESOLI/']' iON NllMJ-Il'.R ]..l.Q..9 (CCS)
(CIty GOllncl.l SerIes)
A K!o;SOLU'r 1 0111 Ul<' 'I'H~ C l TV COUNCIL OF 'rHh
C['l''{ OF SANTA MON leA AU'l'HORIZING ANO
D I REC'I' J NG CEH'l'A IN AC'I'IONS PllHSIlANT 'J'O
Sfo;C'l'lON 10 ~. K' 0\0' 'fHfo: I N'l'r~ Rill A L
Rr:V fo:NlIE CODE
WH fo:RI-:AS, the Clty CounCll ot the Clt.y ot Santa Monlca
proposes to dllthorlze the acquIsItIon, constrllctJOn, and
tlnancIng ot cert_aln lmprovement'> at the Santa Mon1.ca MunICIpal
AIrport Ithe .. prOJE'ct" l} IncllH1Ing the salp and dPllvpry or
Certltlcatf''> ot partIcIpatlon lthe "CprtItlcates") a,> descrIbed
In that certaIn 'I'rust Agrppment dated al'l ot October 1 , 19B~} by
and among the CIty, SecurIty PaCl.tlc Natlonal Bank, and Bank at
Amf'rlCa NatIonal 'I'rust and flavlngs AS'iOClatlon as 'J'rllstpe j and
WH fo,Rfo~AH, pr10r to tht' dellvery ot the Certltlcatf'S to the
pur.hRser rhf'reot, thp CIty lS rli'qlllreC1 by Hect, Ion H131 Ie) ot thE"
Internal Revenue Code of 19'>4, as amended (thp "Codp"), to comply
WIth certaln publIC hearing "nd approval procedures in order tor
thp H'lTerest. recf'lved by the owners ot the Cert1.ticatp,> to bE'
li'xf>mpr tram Ff>deral Jne-ome t"alCf'S,
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NOW, 'l'HF.RE}o'ORE, 'I'HE CI'l'Y COllNel L OF 'l'IiE C 1 TV OF SANTA
MONTCA DOES RESOLVE AS FOLLOWS:
SEc'r ION 1. The AIrport n'rector shall conduct a pUbllC
hear'ng on Tueo;day, October 29, 1985, at 5:00 p.m. In the CouncIl
Chambers, Clty Hi'lll, 1685 MaIn Street, Santa Monlca, CaL,tornla,
on the matter at the sale and dellvery at the Certlflcates and
the nature and locatlon of the ProJect. At the conclusIon of
such hear1ng, the lurport D1rector sha 11 provlde the Mayor wlth a
summary of all test,mony and other eVldence taken at the publlC
hearing.
SEC'i' J ON 2. Th~ Clty Manager has pubhshed a notlce of such
hearlng In the torm attached hereto, marked "Kxhlblt A," by one
lnsert10n on October 14, 1985, 1n the Evenlng Outlook, a
newspaper of general clrculatlon pUblIshed In the CIty of Hanta
MonIca, County of Los Angeles, as requlred by SectIon 103(k ) of
the Code. 'l'he torm of saId notIce 15 hereoy approved, and such
actlon of the Clty Manager 15 hereby approved and ratlfled.
SEC'l'lON 3. 'l'he Mayor, as an elected offlrlal ot the C,ty,
shall cons,deor thE' eVldence presented at the publ1C hearIng and
shall promptly certlty to thIS <:lty CounCil her approval or
d,sapproval of the ProJect and ot the sale and delIvery ot the
Certlflcates by eKecutlng an approprIate CertIf1cate of Approval.
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S~~CTION 4.. 'I'he Cl ty ClerIc shaLl certify to the adoption of
thlS Resolution, and thenceforth and thereafter thE' same shall be
in full force and effect.
~PPROVED ~s TO FORM:
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ROBER'L' M. MYF.RS
City ~ttorney
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Adopted and approved thIs 22nd day of October, 1985.
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I - " Mayor . ~
I hereby certIfy that the foregoIng ResolutIon No. 7109(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: Councilmembers: Conn, Epstein, Jennings, A. Katz,
H. Katz, Zane and Reed
Noes: Councilmembers: None
Abstain: Councilmembers: None
Absent: Councllmembers: None
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ATTEST: ~
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