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R-15260
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General - Type
Resolutions
General 2 - Date
1/24/1984
Number
R-15260
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1 <br /> 2 <br /> 3 <br /> 4 <br /> 5 <br /> 6 <br /> 7 <br /> 8 <br /> 9 <br /> 10 <br /> 11 <br /> 12 <br /> 13 <br /> 14 <br /> 15 <br /> 16 <br /> 17 <br /> 18 <br /> 19 <br /> 20 <br /> 21 <br /> 22 <br /> 23 <br /> 24 <br /> 25 <br /> 26 <br /> 27 <br /> 28 <br /> 28 <br /> 30 <br /> 31 <br /> 32 <br /> <br />CITY ATTORNEY <br />RIVERSIDE <br />CALIFORNIA <br /> <br /> RESOLUTION NO. 15260 <br /> <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br /> RIVERSIDE, CALIFORNIA, APPROVING THE ISSUANCE <br /> OF NOT TO EXCEED $15,000,000 PRINCIPAL AMOUNT OF <br /> CERTIFICATES OF PARTICIPATION FOR CERTAIN PARCELS <br /> OF REAL PROPERTY AND CERTAIN ITEMS OF PERSONAL <br /> PROPERTY AND APPROVING AND AUTHORIZING THE LEASE <br /> AND ACQUISITION AND IMPROVEMENT OF CERTAIN PARCELS <br /> OF REAL PROPERTY AND THE LEASE AND ACQUISITION OF <br /> CERTAIN ITEMS OF PERSONAL PROPERTY~ <br /> <br /> WHEREAS the City of Riverside, California (the "City") <br />proposes to lease certain parcels of real property and certain <br />items of personal property (the "Project") from City of Riverside <br />Municipal Improvements Corporation (the "Corporation") pursuant <br />to a certain Lease Agreement dated as of January 1, 1984 by and <br />between the City and the Corporation (the "Lease Agreement"); and <br /> <br /> WHEREAS, the components comprising the Project are listed <br />in Exhibits A and B to the Lease Agreement; and <br /> <br /> WHEREAS, in order to facilitate the acquisition, con- <br />struction and installation of the Project, the Corporation <br />proposes to appoint the City as its agent pursuant to the Lease <br />Agreement; and <br /> <br /> WHEREAS, the City has entered into certain contracts <br /> <br /> (the "Contracts") with certain contractors for the acquisition, <br />delivery and installation of certain components of the Project, <br />and in order to consummate the financing it is necessary to assign <br />such Contracts to the Corporation pursuant to a certain Assign- <br />ment of Contracts Agreement, by and between the City-and the <br />Corporation (the "Assignment of Contracts Agreement"); and <br /> <br /> WHEREAS, in order to obtain funds to finance acquisition <br />of the Project, the Corporation proposes to assign its right to <br />receive the rental payments to be paid by the City under the <br />Lease Agreement, (the "Rental Payments") together with certain <br />other rights and interests thereunder, to Bank of America National <br />Trust and Savings Association, as trustee (the "Trustee") pursuant <br />to a certain Assignment Agreement dated as of January 1, 1984 <br /> <br /> <br />
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