Home
Clerk
>
Authorities
>
RMIC
>
Resolutions
>
RMIC R-04
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
3/29/2012 4:37:48 PM
Creation date
3/28/2012 10:18:11 AM
Metadata
Fields
Template:
General
Department
City Clerk
General - Type
Resolutions
General 2 - Date
3/20/2012
Number
4
Description
RMIC municipal improvements corporation financing Ryan Bonaminio Park Tequesquite Arroyo
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
3
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
RESOLUTION NO. 4 <br />A RESOLUTION OF THE BOARD OF DIRECTORS OF THE CITY <br />OF RIVERSIDE MUNICIPAL IMPROVEMENTS CORPORATION <br />AUTHORIZING PROCEEDINGS TO ASSIST THE CITY OF <br />RIVERSIDE IN FINANCING IMPROVEMENTS TO THE RYAN <br />BONAMINIO PARK AT THE TEQUESQUITE ARROYO AND <br />APPROVING RELATED DOCUMENTS AND ACTIONS <br />WHEREAS, the City of Riverside (the "City ") desires to finance <br />improvements to the Ryan Bonaminio Park at the Tequesquite Arroyo (the "Project ") <br />by entering into a lease /leaseback arrangement with the City of Riverside Municipal <br />Improvements Corporation (the "Corporation ") whereby the City will lease six City <br />fire stations (the "Sites ") to the Corporation and the Corporation will immediately <br />lease the Sites back to the City; and <br />WHEREAS, the Corporation has been organized for the purpose of assisting <br />the City in financing public improvements, including parks, and is authorized to enter <br />into financing and lease documents for that purpose; and <br />WHEREAS, the Board of Directors wishes at this time to approve <br />proceedings to assist the City in financing the Project and to approve related <br />documents and actions; <br />NOW, THEREFORE, IT IS HEREBY RESOLVED by the Board of Directors <br />of the City of Riverside Municipal Improvements Corporation as follows: <br />Section 1 . Approval of Financing. The Board of Directors hereby approves <br />assisting the City in financing the Project. To that end, the Board of Directors <br />hereby approves each of the following agreements in substantially the respective <br />forms on file with the City Clerk of the City together with any changes therein or <br />additions thereto deemed advisable by the President or Vice President or Treasurer, <br />and the execution thereof by the President or Vice President or Treasurer shall be <br />conclusive evidence of such approval: <br />Site Lease between the City and the Corporation, whereby the City <br />leases the Sites to the Corporation in consideration of the agreement <br />of the Corporation to provide sufficient funds to finance the Project. <br />Lease Agreement between the City and the Corporation, whereby <br />the Corporation leases the Sites back to the City in consideration of <br />the payment of semiannual lease payments by the City as rental for <br />the Sites. <br />26131.00008\7314236.1 1 <br />
The URL can be used to link to this page
Your browser does not support the video tag.