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HomeMy WebLinkAbout1740 AN ORDINANCE OF THE CITY OF ARCADIA AMENDING SECTIONS 2751.2, 2752.4, 2752.5, 2752.8 AND 2752.9 AND REPEALING SECTIONS 2752.1, 2753.9, AND 2753.10 OF THE ARCADIA MUNICIPAL CODE, AND AMENDING SECTION 2 OF ORDINANCE NO. 1737 TO REVISE THE DEFINITION OF "REVENUES," AND DELETE CITY AUTHORITY TO ACQUIRE, CONSTRUCT, LEASE, OR SELL "FACILITIES," OR TEMPORARILY OPERATE A FACILITY, OR TO ISSUE BOND ANTICIPATION NOTES. THE CITY COUNCIL OF THE CITY OF ARCADIA DOES HEREBY ORDAIN AS FOLLOWS: SECTION 1. That Section 2751.2 of the Arcadia Municipal Code is hereby amended to read as follows: "'Section 2751.2: DEFINITIONS. Unless the context otherwise requires, the terms defined in this chapter shall have the following meanings: (a) "Bonds" means the bonds, notes, certificates, debentures and other obligations authorized to be issued by the City pursuant to this chapter and payable as provided in this chapter. (b) "City" means the City of Arcadia. (c) "Cost" means the total of all costs incurred by or on behalf of a Participating Party to carry out all works and undertakings and t~ obtain all rights and powers necessary or incident to the acquisition, construction, installation, reconstruction, rehabilitation or improvement of a Facility. "Cost" may include all costs of issuance of bonds for such purposes" costs for construction undertaken by a Participating Party as its own contractor, capitalized bond interest, reserves for debt service and for repairs, replacements, additions and improvements to a Facility, and other working capital incident to the operation of a Facility. (d) "Council" means the City Council of the City of Arcadia. (e) _"Facility" means any of the facilities, places or buildings within the City which are, or will be, maintained and operated for industrial, commercial or business purposes, conform to the general plan of the City and are approved by the City for the financing authorized by this chapter, such approval being given only when the City finds and determines that such financing (1) will -1- 1740 listed in Section 2751.1 and (2) will not have the proximate effect of the relocation of any substantial operations of the Participating Party from one area of the State to another or the abandonment o~ any substantial operations of such Participating Party within other areas of the State, or, if such financing will have either of such effects, then such financing is reasonably necessary to prevent the relocation of any substantial operations of the Participating Party from an area within the State to an area outside the State. A "Facility" may be an activity which may otherwise be financed pursuant to the California Industrial Development Financing Act (Government Code ~~ 91500 et ~.) to the extent said Act permits the f~nancing of such activity under alternative authority. "Facility" includes, without limitation, real and personal property, land, buildings, structures, fixtures, machinery and/or equipment and all such property related to or required or useful for the operation of a Facility. Facility does not include any facility, place Or building used or to be used primarily for sectarian instruction or study or as a place for devotional activities or religious worship. (f) "Participating Party" means any individual, association, corporation, partnership or other entity which is approved by the City to undertake the financing of the Costs of a Facility for which this chapter authorizes the issuance of the Bonds. (g) "Revenues" means amounts received by the City as payments of principal, interest, and all other charges with respect to a loan authorized by this Chapter, as proceeds received by the City from mortgage, hazard or other insurance on or with respect to such a loan (or any propert~ securing such loan), all other charges, fees, income and receipts derived by the City from the financing of a Facility authorized by this Chapter, any amounts received by the City as investment earnings on moneys deposited in any fund securing the Bonds, and such other legally available moneys as the Council may, in its dis- cretion, lawfully designate as Revenues." SECTION 2. That Section 2752.4 of the Arcadia Municipal Code ~s hereby amended to read as follows: "Section 2752.4: to obtain, or aid ,in of the United States private company, any INSURANCE. The City is hereby authorized obtaining, from any department or agency or of the State of California or any insurance or guarantee as to, or of, or -2- 1740 -- -., --~ ............l ......'-'...~............. ........... .....~. ......_-~ ......... ..... ~-~-.... -~.~.... J--' ........... ~~~.J. r---- thereof, on any loan or any instrument evidencing or securing the same, made or entered into as authorized by this Chapter; and is authorized to accept payment in such manner and form as provided therein in the event of default by a Participating Party, and to assign any such insurance or guarantee as security for Bonds." SECTION 3. That Section 2752.5 of the Arcadia Municipal Code is hereby amended to read as follows: "Section 2752.5: FEES AND CHARGES. The City is hereby autho~ized to fix payrrents, fees, charges and interest rates for a financing authorized by this chapter and to agree to revise from time to time such l:layrrents, fees, charges and interest rates to reflect changes in interest rates on Bonds. losses due to defaults or changes in other expenses related to this chapter, including City administrative expenses." SECTION 4. That Section 2752.8 of the Arcadia Municipal Code is hereby amended to read as follows: "Section 2752.8: PUBLIC WORKS REOUIREMENTS INAPPLICABLE. Except as specifically provided in this chapter, the acquisition,'construction, installation, reconstruction, rehabilitation or improvement of a Facility financed under this chapter shall not be subject to any requirements relating to buildings, works or improvp.ments owned or operated by the City, and any requirement of public competitive bidding or other procedural restriction imposed on the award of contracts for acqUisition or construction of a City building, work or improvement shall not De applicable to any action taken under this Chapter." SECTION 5. That Section 2752.9 of the Arcadia Municipal Code is hereby amended to read as follows: "Section 2752.9: ADDITIONAL POWERS. In addition to all other powers specifically granted by this chapter, the City is hereby authorized to contract for and do all things necessary or convenient to carry out the purposes of this chapter, provided, however, that the City shall not have the power to operate a Facility financed under this chapter as a business .11 the SECTION 6. That Sect10ns 2752 1 2753 9 a d - ., ., n Arcadia Municipal Code are hereby repealed. 2753.10 of SECTION 7. That Section 2 of Ordinance No. 1737 of the City of Arcadia is hereby amended to read as follows: -3- 1740 "SECTION 2. The app=opriate officers of the City are hereby authorized and directed, for and in the name of and on behalf of the City, to do any and all things and take any and all actions and execute and deliver any and all certificates, agreements and documents which they or any of them may deem necessary or advisable in order to.consummate the lawful issuance and delivery of the Bonds authorized by this ordinance in accordance with the provisions of this ordinance and the resolution of the Council approving the particular Facility to be financed thereby." SECTION 8. If any section, subsection, sentence, clause, phrase or portion of this ordinance is, for any reason, held to be invalid or unconstitutional by the decision of any court of compe- tent jurisdiction, such decision shall not affect the validity of the remaining portions of this ordinance. The City Council of the City of Arcadia hereby declares that it would have adopted this ordinance and each section, subsection, sentence, clause, phrase or portion thereof irrespective of the fact that anyone or more sections, subsections, sentences, clauses, phrases or portions be declared invalid or unconstitutional. SECTION 9. Neither the adoption of this ordinance nor the repeal hereby of any ordinance shall in any manner affect the prosecution for violation of ordinances, which violations were committed prior to the effective date hereof, nor be construed as affecting any of the provisions of such ordinance relating to the collection of any such license or penalty or the penal provisions applicable to any violation thereof, nor to affect the validity of any bond or cash deposit in lieu thereof, required to be posted, filed or deposited pursuant to any ordinance and all rights and obligations thereunder appertajning shall continue in full force and effect. SECTION 10. The Clerk of the Council shall certify to the passage and adoption of this ordinance and shall cause the same to be PUb1ished,in the official newspaper of the City of Arcadia with- in fifteen CiS) days after its adoption. -4- 1740 PASSED AND ADOPTED BY THE CITY COUNCIL of the City of Arcadia at its regular meeting held on the 2nd day of February, 1982. SIGNED AND APPROVED this 2nd day of February, 1982. Mayor of ATTEST, L,) ~ ~ t/euv City Cler~ of the City 0 Arcadla City I HEREBY CERTIFY that the foregoing ordinance was adopted at. a regular meeting of the City Council of the City of Arcadia, . California, held on the 2nd day of February, 1982, by the affirma-, t tive vote of at least three Councilmen, to wit: ' AYES: NOES: ABSENT: Councilmen None None Dring, Haltom, Pellegrino, Saelid & Gilb ~~~~ . . ' City Clerk of the C~ty of Arcad~a . .-:,- , " -5- 1740