HomeMy WebLinkAbout5074_CCv0001.pdf RESOLUTION NO. 5074
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDLANDS
AUTHORIZING A SECOND AMENDMENT TO LEASE AGREEMENT
WHEREAS, the City Council (the "City Council") of the City of Redlands (the "City")
has authorized the sale of its certificates of participation in an aggregate principal amount not to
exceed $3,500,000 (the "Certificates") and has approved the necessary legal documents relating
to such Certificates in order to prepay certain lease obligations with respect to a certain parking
facility located within the City and adjacent to Wal-Mart (the "Project"); and
WHEREAS, on or about March 20, 1990, Gatlin/Berger Developments, Inc., a Louisiana
corporation ("Gatlin/Berger") and the City entered into that certain Lease Agreement (the
"Lease") pursuant to which Project was leased to the City; and
WHEREAS, on or about September 4, 1990, Gatlin/Berger, the City and The Pavilion at
Redlands, Limited, a California limited partnership, ("Pavilion") entered into that certain First
Amendment to Lease Agreement (the "First Amended Lease"), amending the Lease; and
WHEREAS, in connection with the issuance of the Certificates, the City, Pavilion, and
Wal-Mart Stores, Inc., a Delaware Corporation ("Wal-Mart") wish to enter into the Second
Amendment to Lease Agreement (the "Second Amended Lease") to provide for the prepayment
of lease payments due under the Lease, as amended by the First Amended Lease; and
WHEREAS, this City Council believes that entering into the Second Amended Lease will
effect a savings to the City and that it is in the public interest and of benefit to the City to enter
into the Second Amended Lease;
NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED BY THE
CITY COUNCIL OF THE CITY OF REDLANDS AS FOLLOWS:
Section 1. Recitals True and Correct. The recitals stated above are true and correct.
Section 2. Findings of the City. This City Council finds that entering into the Second
Amended Lease will effect a savings to the City and that it is in the public interest and of benefit
to the City to enter into the Second Amended Lease.
Section 3. Second Amendment Lease. The form of agreement entitled "Second
Amendment to Lease Agreement" presented to this meeting among the City, Pavilion, and Wal-
Mart which provides generally for the prepayment of lease payments for the Project, is hereby
approved and the Mayor or his designee is hereby authorized and directed for and in the name
and on behalf of the City to execute and deliver said agreement in the name and on behalf of the
City and the City Clerk is hereby authorized to acknowledge and deliver said agreement in the
form hereby approved with such changes as the officer executing the same may approve, such
approval to be conclusively evidenced by the execution and delivery thereof. The City Manager
and staff of the City are further authorized and directed to take such action for and on behalf of
the City as may be appropriate to carry out the term of the Lease, as so amended.
Section 5. Effective Date. This Resolution shall take effect upon adoption.
ADOPTED this 5th day of April , 1994.
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ayor of the City of Redlands
ATTEST:
City Cle of the CWRedlands
Redlands
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1, Lorrie Poyzer, City Cleric of the City of Redlands, California, do hereby certify
that the foregoing Resolution was regularly introduced and adopted by the City Council of the
City of Redlands, California, at a regular meeting thereof held on the 5th day of
April , 1994, by the following vote of the City Council:
AYES: Councilmembers Foster, Cunningham, Gilbreath, Gil;
Mayor Larson
NOES: None
ABSENT None
ABSTAINED: None
IN WITNESS WHEREOF, 1 have hereunto set my hand and affixed the official
seal of the City of Redlands, California this 5th day of_ April 1994,
City Clerk of the City e lands, California
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STATE OF CALIFORNIA }
COUNTY OF SAN BERNARDINO ) SS
CITY OF REDLANDS )
I, Lorrie Poyzer, City Clerk of the City of Redlands, California, hereby certify under
penalty of perjury that the attached is a full, true and correct copy of Resolution No. 5074 as
regularly passed and adopted by the City Council of the City of Redlands on the 5th day of
April, 1994„ as appears on record in my office; that since the adoption date said resolution
has not been amended, modified or repealed, and that it is presently valid and an existing law
of the City of Redlands, California.
WITNESS my hand and the official seal of the City of Redlands this 16th day of June,
1994.
Lorrie Poyzer, City Clerk
City of Redlands, California