HomeMy WebLinkAbout1600 - ORDINANCES - 7/25/2001 ORDINANCE NO. i(inn
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
PALM SPRINGS, CALIFORNIA, APPROVING AND
AUTHORIZING THE EXECUTION OF A SUPPLEMENTAL
' LEASE AGREEMENT NO. 3 RELATING TO THE CITY OF
PALM SPRINGS FINANCING AUTHORITY LEASE REVENUE
REFUNDING BONDS, 2001 SERIES A (CONVENTION CENTER
PROJECT)
THE CITY COUNCIL OF THE CITY OF PALM SPRINGS ORDAINS AS FOLLOWS:
SECTION 1. The form of the Supplemental Lease Agreement No. 3 Relating to
Convention Center Facilities, dated as of August 1, 2001, by and between Authority, as Lessor,
and the City of Palm Springs (the "City"), as Lessee (the "Lease Agreement'), a copy of which is
on file with the City Clerk, be and is hereby approved and the Mayor or City Manager or Finance
Director and other appropriate officials of City are hereby authorized and directed to execute,
acknowledge and deliver, in the name and on behalf of the City, the Lease Agreement, with
such changes therein not inconsistent with this ordinance and not substantially adverse to the
City as may be permitted under the laws of the State and approved by the Mayor or City
Manager or Finance Director of any other officers executing the same on behalf of the City. The
approval of such changes by said Mayor or City Manager or Finance Director or other officers
shall be conclusively evidenced by their execution of such Lease Agreement.
SECTION 2. The City Council acknowledges and approves of the final maturity date of
the City of Palm Springs Financing Authority Lease Revenue Refunding Bonds, 2001 Series A
(Convention Center Project) extending four (4) years beyond the final maturity date of the City of
' Palm Springs Financing Authority Lease Revenue Bonds, 1991 Series A (Convention Center
Project).
SECTION 3. Ordinance No. 1597 is hereby repealed in its entirety and upon the
effective date of this Ordinance shall be of no further force and effect.
SECTION 4. This Ordinance is subject to the referendum provisions contained in the
Charter of the City and state law otherwise applicable to the City.
SECTION 5. The City Clerk is hereby authorized and directed to certify to the passage
of this Ordinance, and to cause the same or a summary thereof to be published at least once in
a newspaper of general circulation in the City, within fifteen days after its adoption.
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IRV 111212 v1
Ordinance No. 1600
Page 2
ADOPTED THIS 25th day of July 2001.
AYES: Members Jones, Reller-Spurgin and Mayor Rleindienst
NOES: Members Hodges and Oden
ABSENT: None
A CITY OF 'PALM SPRINGS, CALIFORNIA ,
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City Clerk Mayor
REVIEWED &APPROVED
I HEREBY CERTIFY that the foregoing Ordinance 1600 was duly adopted by
the City Council of the City of Palm Springs, California, in a meeting
held on the 25th day of July 2001, and that same was published in the
DESERT SUN, a newspaper of general circulatiga, on August 2, 2001_
PATRICIA A. SANDERS
City Clerk
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