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Home My WebLink About3389 (5) ORDINANCE NO. ORDINk~CE OF THE 11AYOR AN COMMON COUNCIL OF THE CITY OF SAN BERNARDINO AUTHORIZING THE EXECUTION AND ATTESTATION OF A SEWAGE TREATMENT PLANT SUBLEASE AMENDNENT WHEREAS, the County of San Bernardino and the City ~f San Bernardino entered into a joint exercise of powers agreement dated as of April 1, 1968, creating the San Bernardino Public Safety Authority (the "Authority") for the purpose of exercising certain common powers of the County and the city; and WHEREAS, the Authority has previously issued and sold bonds of said Authority in the aggregate principal amount of $7,700,000, said bonds being designated "Sewage Treatment Plant Revenue Bonds, Issue of 1970"; and WHEREAS, the Authority and the City, in connection with the issuance of said bonds entered into a sublease of the facilities financed with the proceeds of said bonds, entitled "Se\vage Treatment Plant Sublease", dated as of August 1, 1970 (the "Sublease"); and WHEREAS, the Authority has determined that substantial interest savings and other benefits can be effected by providing for the redemption of $5,670,000 aggregate principal amount of such bonds maturing by their terms in varying principal amounts on August 1, 1981 and on each August 1 thereafter to and including August 1, 2000; and h WlffiREAS, the City has found and determined that such redemption should be funded by the issuance of refunding revenue bonds of the Authority in an amount not to exceed $6,000,000; and - WHEREAS, to carry out such refunding, it has been determined that the Sublease should be amended. NOW, THEREFORE, the Hayor and Common Council of the City of San Bernardino DO ORDAIN as follows: Section 1. The Mayor of the City is authorized to execute and the City Clerk of the City to attest to that certain Sublease amendment entitled "Sewage Treatment Plant Sublease Amendment" dated as of November 1, 1973, and attached hereto as Exhibit A. Section 2. This ordinance is subject to the provisions for referendum applicable to the City of San Bernardino and is intended to satisfy the provisions of Section 54241 of the Government Code of the State of California. Section 3. The City Clerk is directed to publish this ordinance once in accordance with Section 33 of the Charter of the City of San Bernardino within fifteen (15) days after the passage- of this ordinance. ~" 2. I HEREBY CERTIFY that the foregoing ordinance was duly adopted by the Mayor and Common Council of the City of San Bernardino at a Regular Meeting thereof, held on the 19th day of November, 1973, by the following vote, to wit: AYES: NAYES: ABSENT: 4?-,,/j&'c~ ADOPTED, SIGNED AND APPROVED this c;:z_/~ day of M~-<I./d 1973. r:r " r:':~:::l ~' '~ ,~ :;;:.... ~" -;._':'';:;:) -' ) I , ;"~.j ~; ,'-/~,;' . .- ~<~~ SAN BERNARDINO PUBLIC SAFETY AUTHORITY and THE CITY OF SAN BERNARDINO SEWAGE TREATMENT PLANT SUBLEASE AMENDMENT Dated as of November 1, 1973 Recorded in the Office of the County Recorder of San Bernardino County on ......mm......mm' 1973, as Instrument No. ___o_mm..m 1 THIS SEWAGE TREATMENT PLANT SUBLEASE AMEND- MENT, dated as of November 1, 1973, and executed on the date set forth opposite the signatures, by and between the SAN BERNARDINO PUBLIC SAFETY AUTHORITY (the "Authority"), a public entity and agency, duly organized and existing pursuant to an agreement entitled "Joint Exercise of Powers Agreement Between the City of San Bernar- dino and the County of San Bernardino, Creating the San Bernardino Public Safety Authority", as amended, and the City of San Bernardino, California (the "City"), a municipal corporation. WITNESSETH: WHEREAS, the Authority has leased to the City, and the City has hired from the Authority, the Project as defined in and pursuant to that certain lease from the Authority to the City, dated as of August 1, 1970, recorded as Instrument No. 206, in the office of the County Recorder of San Bernardino County on September 22, 1971 (the "Sew- age Treatment Plant Sublease"); and WHEREAS, to refund certain of the 1970 Bonds issued by the Author- ity to finance the Project, the Authority will issue its 1973 Bonds pursuant to the 1973 Resolution; and WHEREAS, the parties desire to amend the Sewage Treatment Plant Sublease, in accordance with Section 6.09 of the 1970 Resolution; and WHEREAS, the Trustee under the 1970 Resolution has consented to such amendment; Now, THEREFORE, it is agreed by and between the parties hereto that the Sewage Treatment Plant Sublease be' and it hereby is, amended as follows: SECTION 1. The definitions "Bond", "Resolution" and "Trustee" contained in Section 1 are amended to read as follows: "Bond" "Bond" means any Bond or Bonds, as the case may be, authenti- cated and delivered under the 1970 Resolution or the 1973 Resolution. "Resolution" Unless otherwise specified or required by context, "Resolution" means, as to actions taken or required or permitted to be taken or 1 events occurring prior to the release and discharge of the lien of the 1970 Resolution or with respect to the 1970 Bonds, the 1970 Resolution, and as to actions taken or required or permitted to be taken or events occurring on or after August 1, 1980 or with respect to the 1973 Bonds, the 1973 Resolution. "Trustee" Unless otherwise specified or required by context, "Trustee" means as to actions taken or required or permitted to be taken prior to the release and discharge of the lien of the 1970 Resolution or with respect to the 1970 Resolution, Bank of America National Trust and Savings Association, a national banking association, and any successor appointed as provided in the 1970 Resolution, and as to actions taken or required or permitted to be taken on or after August 1, 1980 or with respect to the 1973 Resolution, Bank of America National Trust and Savings Association, a national banking association, and any suc- cessor appointed as provided in the 1973 Resolution. SECTION 2. The following definitions are added to Section 1, as follows: "1970 Bonds" "1970 Bonds means any Bond or Bonds, as the case may be, authen- ticated and delivered under the 1970 Resolution. "1973 Bonds" "1973 Bonds means any Bond or Bonds, as the case may be, authen- ticated and delivered under the 1973 Resolution. "1970 Resolution" "1970 Resolution" means Resolution No. 63 of the Authority, adopted August 5, 1970, and entitled "Resolution Of The San Bernar- dino Public Safety Authority Constituting Its Indenture Providing The Terms And Conditions For The Issuance Of $7,700,000 Revenue Bonds, Issue Of 1970, And Also Providing For The Issuance Of Bond Anticipation Notes", including any amendments and supplements thereto. "1973 Resolution" "1973 Resolution" means the Resolution of the Authority entitled "Resolution Of The San Bernardino Public Safety Authority Consti- 2 tuting Its Indenture Providing The Terms And Conditions For The Issuance Of $5,790,000 Refunding Revenue Bonds, Issue Of 1973", including any amendments and supplements thereto. SECTION 3. The second sentence of Section 3 is amended to read as follows: "This Sublease shall end on June 1, 2006, or such earlier time as payment or redemption or provision therefor, of the 1970 Bonds and the 1973 Bonds or any other bonds issued in connection with the finan- cing or refinancing of the Project has been made, and at such time, any surplus funds remaining in the hands of the Trustees shall be paid to the City." SECTION 4. Subsections (a) and (b) of Section 4 are amended to read as follows: "(a) Base Rental. For the period commencing on (1) the date on which the City shall be served with written notice that the Project has been substantially completed and is available to be placed in service, the City agrees to pay to the Trustee for the account of the Authority in advance for each fiscal year rent at the rate of $536,000 per annum, and rent shall cease when the 1970 Bonds and 1973 Bonds have been paid or provision for payment has been made; provided that no rental payments shall be made to the 1973 Trustee until the discharge and satisfaction of the lien of the 1970 Resolution. After such discharge and satisfaction, the City shall make such rental payments to the 1973 Trustee for the account of the Authority. In the event that the liability of the City for rent at said annual rate did not commence on July 1, 1973, the rent to be paid for the remaining portion of the fiscal year in which such liability commences shall be prorated and shall be paid within thirty (30) days following commencement of such liability, but in no event later than the next succeeding June 30. During the re- mainder of the term of the lease to the City, said rental shall be due on July 1 and may be paid on or before July 31 without penalty or interest in each fiscal year for use of the premises during said fiscal year. "(b) In addition to and after commencement of the Base Rental hereinabove set forth, and in the manner hereinafter provided, the City shall pay such amounts of additional rent each year as shall be required to pay all expenses of the Corporation under, and as defined in, Section 5.02( d) of the 1970 Resolution and, after discharge of the lien of the 1970 Resolution, all expenses of the Authority under, and as defined in, the 1973 Resolution. It is understood that the Working Capital Fund established pursuant to each such Resolution will be held and admini- 3 CONSENT TO SEWAGE TREATMENT PLANT SUBLEASE AMENDMENT Bank of America National Trust and Savings Association, as Trustee under the 1970 Resolution referred to in the foregoing Sewage Treatment Plant Sublease Amendment between San Bernardino Public Safety Authority and the City of San Bernardino, dated as of November 1, 1973, hereby consents to such Sewage Treatment Plant Sublease Amendment and the express tenus and conditions stated therein. Dated: 1.2-I/1-moooo, 1973 BANK OF AMERICA NATIONAL TRUST AND SAVINGS ASSOCIATION As Tr tee By 8