R-5156
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santa~nica~liforn~a
RESOLUTION NO. 5156(CC5)
(City Councl1 Series)
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A. RBSOLtr'1':ION 'OF TiE CITY COUNCIL OF
THE CITY OF SANTA MONICA CONSENTING
. TO THE TRANSFER OF THE LEASEHOLD ES-
TATE FO~ THE ROYAL INN-OF SANTA MONICA
FROM THE ROYAL INNS OF AMERICA~ INC.
TQ THE DAVID H. MURDOCK DEVELOPMENT
COMPANY.
WHEREAS, the City of Santa Monlca has entered into
a lease agreement with the Royal Inns of America, Irtc., a
corporatlon (hereinafter referred to as RIA), by Contract
No. 1740 (City Counci~ Series), as amended, whereby the City
leased certain property located within the corporate boundarles
of the City of Santa Monica to RIA for the constructlon and
operation of a one hundred and fifty unit hotel, known as the
Royal Inn of Santa Monica; and
WHEREAS, RIA has flIed in Case No. 75-1146-K in
the United States Dlstrict Court for the Southern Distrlct of ~
California, a petition for protection under Chapter X of the
Bankruptcy Act; and
WHEREAS, the Court has authorized the sale of the
Royal Inn of Santa Monica to the David H. Murdock Development
Company; and
WHEREAS, according to Section 5.09 (b) of the afore-
mentioned lease and agreement, the written consent of the City
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15 requ~red for any assignment thereof; and
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WHEREAS, the C1ty Council finds and declares that a
transfer of the leasehold interest from the Royal Inns of
America and its ass1gnee, Royal Inn of Santa Monica, to the
aforementioned David H. Murdock Development Company wll1 be
1n the best interest of the City;
NOW, THEREFORE, BE IT RESOLVED, that the Clty Council
of the City of Santa Mon1ca does hereby resolve as follows:
SECTION-I. The City Council does hereby consent
to the transfer of the leasehold interest of the Royal Inns
of America and 1ts assignee, Royal Inn of Santa Monica, Contract
No. 1740 (City Council Series) to the David H. Murdock Develop-
ment Company, pursuant to the Order of the Court in the United
States District Court for the Southern Distrlct of California,
Case No. 75-ll46-K et ale
SECTION 2. The City Clerk shall certify to the
adoption of th1s resolution, and thenceforth and thereafter
the same shall be in full force and effect.
ADOPTED and APPROVED this 12th day of
December
, 1978.
APPROVED AS TO FORM:
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ADOPTED AND APPROVED THIS
12th
DAY
OF December
I 1978.
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MAYOR~ PRO TEMPORE
I HEREBY CERTIFY THAT THE FOREGOING RESOLUTIONJ
No. 5156 I WAS DULY ADOPTED BY THE CITY COUNCIL OF THE CITY
OF SANTA MONICA AT A REGULAR MEETING THEREOF HELD ON
December 12 J 1978 BY THE FOLLOWING COUNCIL VOTE=
AYES:
COUNCILMEMBERS: BaNbrick, Cohen, Reed, Scott, Trives,
van den Steenhoven, SWInk
NOES =
COUNCILMEMBERS: None
ABSENT:
COUNCILMEMBERS: None
ABSTAIN:
COUNCILMEMBERS: None
ATTE~T~
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