HomeMy WebLinkAboutCC ORD 1991-2014 Approves public leaseback (Special)ORDINANCE NO. 91-2014
ORDINANCE OF THE CITY COUNCIL OF THE
CITY OF NATIONAL CITY APPROVING THE PUBLIC
LEASEBACK OF CERTAIN FACILITIES WITH THE
NATIONAL CITY JOINT POWERS FINANCING AUTHORITY
BE IT ORDAINED by the City Council of the City of
National City that pursuant to Section 54241 of the California
Government Code, the City of National City is hereby autho-
rized to enter into a formal agreement with the National City
Joint Powers Financing Authority with respect to the public
leaseback of certain facilities consisting of new police
facilities and the real property on which such improvements
are situated, so long as the principal amount of the Lease
Agreement does not exceed $6,950,000, so long as the interest
rate payable on the unpaid lease payments does not exceed 8%,
so long as the term of the Lease Agreement does not exceed 30
years, and so long as the gross annual Lease Payments payable
under the Lease Agreement do not exceed $650,000. This
ordinance is subject to the provisions for referendum applica-
ble to the City of National City. This ordinance shall be
published in the manner required by law for ordinances of the
City of National City generally.
PASSED and ADOPTED this 25th day of June, 1991.
ea_tJf
George H. aters, Mayor
ATTEST:
Lodi Anne Peoples, ity Clerk
APPROVED AS TO FORM:
George H. Eiser, IIZAP
I
City Attorney
Passed and adopted by the Council of the City of National City, California,
on June 25 1991 by the following vote, to -wit:
Ayes: Councilmen Luella, Inzunza, Van Deventer, pme
rate, ters
Nays: Councilmen N°ne
Absent: Councilmen None
Abstain: Councilmen None
AUTHENTICATED BY:
GEORGE H. WATERS
Mayor of the City of National City, California
Clerk of the City of National City, California
By:
Deputy
I HEREBY CERTIFY that the foregoing ordinance was not finally adopted
until seven calendar days had elapsed between the days of its introduction
and the days of its final passage, to wit, on June 18, 1991
and on
June 25, 1991
I FURTHER CERTIFY THAT said ordinance was read in full prior to its
final passage or that the reading of said ordinance in full was dispensed
with by a vote of not less than a majority of the members elected to the
Council and that there was available for the consideration of each mem-
ber of the Council and the public prior to the day of its passage a written
or printed copy of said ordinance.
I FURTHER CERTIFY that the above and foregoing is a full, true and cor-
rect copy of ORDINANCE NO.91-2014 of the City of National City, passed
and adopted by the Council of said City on June 25, 1991.
(Seal)
City Clerk of the City of National City, California
By:
Deputy