lease revenue refunding bonds - City of Norwalk

More documents

Recommendations

Info

City Council February 19, 2013 Resolution No. 13-13 - Issuance of Lease Revenue Refunding Page No. 6 Bonds Series 2013A & 2013B 5. Preliminary Official Statement relating to the Norwalk Community Facilities Financing Authority Lease Revenue Bonds, Series 2013A. (Document provided with the NCFFA packet) 6. Preliminary Official Statement relating to the Norwalk Community Facilities Financing Authority Lease Revenue Bonds, Series 2013B. (Document provided with the NCFFA packet) 7. Norwalk Community Facilities Financing Authority Lease Revenue Bonds, Series 2013A Bond Purchase Agreement. (Document provided with the NCFFA packet) 8. Norwalk Community Facilities Financing Authority Lease Revenue Bonds, Series 2013B Bond Purchase Agreement. (Document provided with the NCFFA packet) 9. Continuing Disclosure Agreement relating to the Norwalk Community Facilities Financing Authority Lease Revenue Bonds, Series 2013A. 10. Continuing Disclosure Agreement relating to the Norwalk Community Facilities Financing Authority Lease Revenue Bonds, Series 2013B.
RESOLUTION NO. 13-13 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NORWALK, APPROVING THE ISSUANCE OF LEASE REVENUE REFUNDING BONDS SERIES 2013A AND LEASE REVENUE REFUNDING BONDS SERIES 2013B, TO BE ISSUED BY THE NORWALK COMMUNITY FACILITIES FINANCING AUTHORITY, AUTHORIZING AND APPROVING A SITE AND FACILITY SUBLEASE, A LEASE AGREEMENT, A FIRST AMENDMENT TO LEASE AGREEMENT, TWO PRELIMINARY OFFICIAL STATEMENTS, TWO FINAL OFFICIAL STATEMENTS, TWO CONTINUING DISCLOSURE AGREEMENTS, AND TWO BOND PURCHASE AGREEMENTS; AND AUTHORIZING CERTAIN OTHER ACTIONS IN CONNECTION THEREWITH WHEREAS, the City of Norwalk, California (the “City”) and the Norwalk Parking Authority have heretofore entered into that certain Joint Exercise of Powers Agreement, dated as of August 1, 1989 establishing the Norwalk Community Facilities Financing Authority (the “Authority”) for the purpose, among other things, of issuing its bonds to be used to provide financing and refinancing for public capital improvements of the City; and WHEREAS, the Authority has previously issued its 1999 Lease Revenue Refunding Bonds (together, the “1999 Bonds”); and WHEREAS, in 1999 the City and the Authority entered into a lease agreement (the “1999 Lease”), under which the City agreed to make base rental payments to the Authority; and WHEREAS, pursuant to the 1999 Lease, the City has the right to prepay its base rental payments under the 1999 Lease in an amount sufficient to refund and defease the 1999 Bonds; and WHEREAS, the Authority has previously issued its Lease Revenue Bonds (Parking Improvements Project) 2001 Series A (the “2001 Bonds” and, together with the 1999 Bonds, the “Prior Bonds”); and WHEREAS, in 2001 the City and the Authority entered into a lease agreement (the “2001 Lease”), under which the City agreed to make base rental payments to the Authority; and WHEREAS, pursuant to the 2001 Lease, the City has the right to prepay its base rental payments under the 2001 Lease in an amount sufficient to refund and defease the 2001 Bonds; and WHEREAS, the City finds it necessary and desirable to exercise its right under the 1999 Lease and the 2001 Lease and prepay the remaining unpaid base rental payments under such leases to realize net present value savings; and
Page 1 and 2: CITY COUNCIL AGENDA REPORT TO: FROM
Page 3 and 4: City Council February 19, 2013 Reso
Page 5: City Council February 19, 2013 Reso
Page 9 and 10: WHEREAS, there have been presented
Page 11 and 12: Bonds. The total principal amount o

lease revenue refunding bonds - City of Norwalk

Create successful ePaper yourself

Delete template?

Save as template?