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HomeMy WebLinkAboutRES NO 95-81RESOLUTION NO. 95'81 A RESOLUTION OF THE COUNCIL OF THE CITY OF BAKERSFIELD STATING ITS INTENTION TO AUTHORIZE AND ISSUE INDUSTRIAL REVENUE BONDS AND HISTORICAL REHABILITATION REVENUE BONDS. WHEREAS, the City Council, acting under the authority granted by its Charter, is empowered to investigate, study and identify the need for and to recommend action to improve and promote job opportunities, commercial growth, improve the en- vironment and remove blight within the City of Bakersfield and to issue bonds for such purposes; and WHEREAS, the City Council previously adopted Ordinance No. 2675 to encourage the preservation of properties of historical and architectural significance by providing for financing through the issuance of bonds; and WHEREAS, the City Council desires to declare its intention to issue bonds for all or any of the above purposes upon terms and conditions as may be agreed upon by the City, the purchasers and the participants. NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Bakersfield as follows: 1. That the City Council does hereby find that in order to improve and promote job opportunities, commercial diversi- fication and general economic health to the City, the City would be measurably benefited by entering into a financing agreement with Elmer F. Karpe, Inc., Robert McCarthy, Louise McCarthy, Michael McCarthy, Linda McCarthy, William Rickett and Virginia Rickett, a general partnership (the "Partnership"), for the financing of the acquisition, construction and furnishing of commercial facilities described in detail in Exhibit "A", and generally known as the Union Ice Company property (the "Property") located on Chester Avenue at 34th Street, Bakersfield, which such Property the Partnership intends to purchase and develop. 2. In order to induce the Partnership to proceed with the development of the Property, the legislative body of the City hereby determines that: (a) the City intends to authorize and issue revenue bonds not to exceed $10,000,000.00 (the "Bond"), pursuant to all laws governing this issue, to finance the acquisition, construction and furnishing of the commercial facilities on the Property, subject to terms and conditions as may be agreed upon by the City, purchasers and participants; (b) the City intends to enter into contractual arrangements with the Partnership to apply the proceeds derived from the issuance and sale of the Bond to the financing of the acquisition, construction and furnishing of the facilities and the expenses incidental thereto to the extent allowed by law, whereby payments to be made by the Partnership shall be sufficient to pay the Bond and the interest thereon, without liability or obligation to the City; and (c) the City intends to adopt such ordinances and resolutions and authorize the execution and delivery of such instruments and the taking of such actions as may be necessary or advisable for the authorization, issuance and sale of the Bond. 3. That the City Council does hereby find that Ordinance No. 2675 was passed to encourage the preservation of properties and structures of historical and architectural significance and to issue bonds for the purpose of financing or otherwise assisting the rehabilitation of historical property, which bonds are to be payable solely from all or any part of revenues derived and are not to be a liability or obligation of the City. 4. In order to promote the preservation and rehabilita- tion of historic property, the City intends to enter into a financing arrangement with the Partnership for the acquisition and rehabilitation of Property, described in Exhibit A, if the Partnership succeeds in listing Property on a qualified historical register. Pursuant thereto, the legislative body of the City hereby determines that: (a) the City intends to authorize and issue historical rehabilitation revenue bonds not to exceed $10,000,000.00, pursuant to all laws governing this issue, to finance the acquisition and rehabilitation of the Property, subject to terms and conditions as may be agreed upon by the City, purchasers and participants; (b) the bonds shall not be a liability or obligation of the City; and (c) the City intends to adopt such ordinances and resolutions and authorize the execution and delivery of such instruments and the taking of such actions as may be necessary or advisable for the authorization, issuance and sale of the said bonds. 5. The City Manager, or his designee, is hereby authorized and directed to proceed in accordance with this Resolution to take appropriate action to promote the interest as expressed in this Resolution. o0o I HEREBY CERTIFY that the foregoing Resolution was passed and adopted by the Council of the City of Bakersfield at a regular meeting thereof held on the 16th day of December, 1981, by the following vote: AYES: COUNCILMEN: BARTON, C}I~IgTENSEN, MEANS, PAYNE, PATTY, ROCKOFF, NOES: COUNCILME'N: ABS~Nv: ~9~N_C,3_M~N_: Chn~ten,~n ABSTAINING: COUNC/__!L.MEN: CITY x . k of the Council of the City of Bakersfield APPR ~.D~tt!.'f~"Y~h ~dcay of December, 1981 -~ 'of'[h ~akersfiela APPROVED as t% fOr-m~ CI f Bakers field RJO:mm 4. ~EXHIBIT "A!~. .,. THE LAND REFERRED TO HEREIN IS DESCRIBED AS FOLLOWS: · . :'" PARCEL 1: ALL OF LOTS 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, i3, AND 14, AND THE VACATED ALLEY IN BLOCK 617, IN THE CITY OF BAKERSFIELD, COUNTY OF KEtLN, STATE OF ':""' CALIFORNIA, AS SAID BLOCK IS SHOWN ON THAT CERTAIN MAP ENTITLED "SALES MAP OF '.': ":' KERN COUNTY LAND COMPANY, SHOWING SUBDIVISIONS OF ITS ADDITIONS TO THE CITY OF BAKERSFIELD, KERN COUNTY, CALIFORNIA", FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY ON APRIL 19, 1904 IN BOOK 1 PAGE 13, OF MAPS. · ..~ . PARCEL 2: -. *",~J,L THAT- PARCEL OF I/dqD, THE SOUT}[ERLY 82.5 FEET OF WHICH LIES WITHIN THE ':L":" BOUNDARIES OF THE CITY OF BAKERSFIELD, SITUATE, LYING AND BEING IN THE COUNTY OF KERN, STATE OF CALIFORNIA, DESCRIBED AS FOLLOWS: -:.... · _ ~'~' C'0MI'IENCiNG'AT 'THE NORTHEAST CORNER OF BLOCK 617, AS T}[E SAME' IS SHOWN ON THAT ..... '.';.. CERTAIN MAP ENTITLED "SALES MAP OF KERN COUNTY LAND COMPANY, SHOWING .... SUBDIVISIONS OF ITS ADDITIONS TO THE CITY OF BAKERSFIELD, KERN COUNTY, ....... .......'~"CALIFORN!A", FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY ON '. APRIL 19, 1904 IN BOOK 1 PAGE 13, OF MAPS; RUNNING THENCE NORTHERLY ALONG TKE WESTERLY LINE IOF CHESTER .AVENUE, AS INDICATED UPON SAID MAP, A DISTANCE OF 100 ......... FEET~ RUNNING THENCE WESTERLY AT RIGHT ANGLES A DISTANCE OF 264 FEET TO TIlE ... EASTERLY LINE OF "I" STREET, AS INDICATED UPON SAID MAP; RUNNING THENCE ...... ........ SOUT}[ERLY AT RIGHT ANGLES ALONG THE SAID EASTERLY LINE OF "I" STREET, A DISTANCE OF 100 FEET; AND RUNNING TtLENCE EASTERLY AT RIGHT ANGLES A DISTANCE OF 264 FEET TO THE POINT OF COMMENCEMENT. 'ALL THAT PARCEL OF LAND IN THE CITY OF BAKERSFIELD, COUNTY OF KERN, STATE OF CALIFORNIA, DESCRIBED AS FOLLOWS: . '. BEGI~fNING AT THE SOUTHEAST CORNER OF LOT 2 IN BLOCK 617, AS SHOWN ON THAT .. CERTAIN MAP ENTITLED "SALES MAP OF KERN COUNTY LAND COMPANY, SHOWING SUBDIVISIONS OF ITS ADDITIONS TO THE CITY OF BAKERSFIELD, KERN COUNTY, · . CALIFORNIA", FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY ON APRIL 19, 1904 IN BOOK 1 PAGE 13, OF MAPS; T}[ENCE WEST ALONG THE SOUTH LINE OF SAID LOT 2 A DISTANCE OF 43.9 FEET; THENCE IN A SOUTHEASTERLY DIRECTION ALONG THE SOUT}[ERN PACIFIC RAILROAD COMPANY'S RIGHT OF WAY A DISTANCE OF 59.54 FEET; THENCE NORTH ALONG THE WEST LINE OF CI{ESTER AVENUE, A DISTANCE OF 40.23 FEET TO THE POINT OF BEGINNING. PARCEL 4: ALL THAT PARCEL OF ~LAND, .LOCATED PARTLY WITHIN AND PARTLY WITHOUT THE CORPORATE LIMITS OF T]{E CITY OF BAKERSFIELD, COUNTY OF KEP, M, STATE 'OF CALIFORNIA, ANnD DESCRIBED AS FOLLOWS: BEGINNING AT'A POINT IN TIlE CENTER LINE OF CHESTER AVENUE, DISTANT TtfEREON 751.75 FEET NORTifERLY FROM TIUE POINT FORMED BY TI{E iNTERSECTION OF SAID CENTER LINE OF CHESTER AVENUE, WITH THE CENTER LINE OF THIRTY-SECOND STREET, AS SAID AVENUE AND STREET ARE SHOWN ON THAT CERTAIN MAP ENTITLED "SALES MAP OF KERN COUNTY LAND COMP~tNY,' SHOWING SUBDIVISIONS OF ITS ADDITIONS TO THE, CITY OF BAKERSFIELD, KERN COUNTY, CALIFORNIA", FILED IN TIlE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY ON APRIL 19, 1904 IN BOOK 1 PAGE 13, OF MAPS; RUNNING T}lENCE NORTHERLY ALONG SAID CENTER LINE OF CHESTER AVENUE, A DISTANCE OF 114.5 FEET TO THE SOUTHEASTERLY CORNER OF TIL~T PARCEL OF LAND DESCRIBED IN THE DEED FROM KERN COUNTY LiND COMPANY, A CORPORATION, TO I<ERN COUNTY FAIR ASSOCIATION, A CORPORATION, RECORDED MAY 6, 1921 IN BOOK 365 OF DEEDS, PAGE 17; THENCE AT A RIGHT. ANGLE WESTERLY ALONG THE SOUT}IERLY LINE OF SAID KERN COUNTY FAIR ASSOCIATION PARCEL, 625.92 FEET, MO~RE OR LESS, TO TIlE POINT OF ITS INTERSECTION WIT]{ TIlE NORTHEASTERLY BOUNDARY LINE OF THE RIGHT OF WAY OF THE SOUTHEPuN PACIFIC RAILROAD COMPANY; THENCE SOUTHEASTERLY ALONG THE NORTHEASTERLY BOUNDARY LINE OF SAID RIGHT OF WAY, A DISTANCE OF 411.2 ]FEET, MORE OR LESS, TO TPHE POINT OF ITS INTERSECTION WITH THE WESTERLY BOUNDARY LINE OF LOT 14 IN BLOCK 617, IN TIlE CITY OF BAKeRSFIELD, AS SHOWN ON THE MAP }[EREINBEFORE REFERRED TO; TRENCE NORT][ERI, Y, ALONG THE WESTERLY BOUNDARY LINE OF SAID LOT AND ALONG TIlE NORTI[ERLY PROLONGATION TtlEREOF, A DISTANCE OF 162.3 FEET TO T}IE NORTHW~]STERLY CORNER OF THAT CERTAIN PARCEL OF LAND DESCRIBED IN TRE DEED FROM KERN COUNTY LAND COMPANY, A CORPORATION TO UNION ICE COMPANY, A CORPORATION, RECORDED SEPTEMBER 29, 1910 IN BOOK 225, OF DEEDS, PAGE 11, SAID UNION ICE COMPANY PARCEL BEING MORE PARTICULARLY DESCRIBED AS PARCEL 2 ABOVE; THENCE AT A RIGHT ANGLE EASTERLY ALONG TIlE NORTHERLY BOUNDARY LINE OF SAID 'UNION ICE COMP~Uf PARCEL AND T}lE EASTERLY PROLONGATION THEREOF 321.75 FEET TO THE POINT OF BEGINNING. EXCEPT TRE NORTI~RLY 10 FEET THEREOF, AS DESCRIBED IN T}~ DEED TO T}lE CALIFORNIA NATIONAL SUPPLY COMP~4Y, A CORPORATION, RECORDED JANUARY 20, 1923 IN BOOK 399, OF DEEDS, PAGE 32.