HomeMy WebLinkAbout6/25/2001 - STAFF REPORTS ORDINANCE NO.
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 City, the Lease Agreement, with
such changes therein not inconsistent with this resolution 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 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. This Ordinance is subject to the referendum provisions contained in the
Charter of the City and state law otherwise applicable to the City.
SECTION 3. 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.
ADOPTED THIS day of June 2001.
AYES: Members
NOES: Members
ABSENT: Members
ATTEST: CITY OF PALM SPRINGS, CALIFORNIA
By:
City Clerk Mayor
REVIEWED & APPROVED .