HomeMy WebLinkAboutRES NO 172-88RESOLUTION NO. 172-88
A RESOLUTION OF THE COUNCIL OF THE CITY OF
BAKERSFIELD, APPROVING A FIRST AMENDMENT
TO REIMBURSEMENT AGREEMENT WITH THE CENTRAL
DISTRICT DEVELOPMENT AGENCY, APPROVED BY
RESOLUTION NO. RA1-87 ON JANUARY 21, 1987.
WHEREAS, the City o4 Bakersfield has entered into a certain
Reimbursement Agreement dated February 1, 1987, between the City
and the Central District Development Agency of the City of Bakers-
field pursuant to which the Agency has agreed to reimburse the City
for 80 percent of the Lease Payments to be made by the City under
that certain Lease Agreement dated as o4 February 1, 1987, between
the Agency and the City relating to the leasing of certain improve-
ments to the Civic Auditorium located in the Agency's Downtown
Project Area; and
WHEREAS, the Agency and the City desire to amend the Reimburse-
ment Agreement to provide that the Agency's reimbursement obligations
may be reduced to 50 percent of the Lease Payments to be made by the
City.
NOW THEREFORE, the Central District Development Agency of the
City of Bakersfield does hereby resolve, determine, and order as
follows:
SECTION 1. The proposed form of First Amendment to Reim-
bursement Agreement !presented at this meeting is hereby approved.
The Chairman and the Secretary are hereby authorized and directed for
and in the name of the Agency to execute such First Amendment to
Reimbursement Agreement in substantially the form hereby approved,
with such additions thereto and changes therein as are recommended by
the Bond Counsel to the Agency and approved by such officers, such
approval to be conclusively evidenced by the execution and delivery
thereof.
SECTION 2. The Mayor, the City Manager, the City Clerk and
the Finance Officer are hereby authorized and directed, jointly and
severally, to do any and all things and to execute and allow any and
all documents which they may deem necessary and advisable to effectu-
ate the purposes of this Resolution, and such actions previously taken
by such o~ficers are hereby ratified and confirmed.
SECTION 3. This Resolution shall ta~e effect from and after
its date of adoption.
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I HEREBY CERTIFY that the foregoing Resolution was passed
and adopted by the Council of the City ot Bakersfield at a regular
meeting thereof held on August 10, 1988 by the following vote:
AYES: COUNCILMEMEERS CHILOS~ SMiIH, RATI%', P£T~QSON, McDERMOTT
NOES: COUNCILME M?'72~; NONE
ABSENT COUNCiLMF" i~¢_ }: DEMOND
ABSTAINING COUNC ~M~M ~:~iS NONE
CITY CLERK and Ex Officio Clerk of
Council of the City of Bakersfield
the
APPROVED
August 10, 1988
MAYOR of the City o2 Ba~rsfield
APPROVED as to form:
o?t~/' ' o~- Bakersfield
NSSIGNPG