HomeMy Public PortalAboutOrdinance 74-3941
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ORDINANCE NO. 74 -394
AN ORDINANCE OF THE CITY OF TEMPLE
CITY APPROVING THAT CERTAIN LEASE
AGREEMENT, DATED AS OF DECEMBER 1,
1974, BETWEEN SAID CITY_AND THE
TEMPLE CITY COMMUNITY 'REDEVELOPMENT
AGENCY '
WHEREAS, the Temple City Community Redevelopment Agency
(the "Agency ") proposes to acquire and construct certain public
off- street parking facilities in the City of Temple City and to
lease said facilities to said City pursuant to that certain Lease
Agreement, to be dated as of December 1, 1974 (the "Lease "), a
copy of the form of which is on file with the City Clerk of said
City; and
WHEREAS, said Agency proposes to finance such acquisition
and construction through the issuance of revenue bonds pursuant
to the Community Redevelopment Law (Part 1 of Division 24 of the
Health and Safety Code of the State of California), such bonds
to be payable as to principal and interest from the proceeds of
rents to be paid by the City under the terms of said Lease; and
WHEREAS, Article 9, Chapter 5, Part 1, Division 2, Title 5
(commencing with Section 54250) of the Government Code requires
that prior to entering into said Lease the City shall have approved
said Lease by ordinance which shall be subject to referendum;
The City Council of the City of Temple City does ordain:
SECTION 1. This City Council of the City of Temple City
hereby approves the Lease, provided that the amount of base rental
payable by the City thereunder shall not exceed $325,000.
SECTION 2. Subject to the provisions of Section 1 hereof,
the Mayor is authorized and directed to execute said Lease and the
City Clerk is authorized and directed to attest thereto and to
affix the official seal of the City thereto and to cause said Lease,
following execution by the Temple City Community Redevelopment
Agency to be recorded with the County Recorder of Los Angeles County.
SECTION 3. The City Clerk shall certify to the passage and
adoption of this ordinance and shall, within 15 days after its
passage, cause this ordinance to be published once in the TEMPLE
CITY TIMES, a newspaper of general circulation in said City.
SECTION 4. This ordinance shall take effect thirty (30)
days after its final passage, and shall be subject to the provi-
sions for referendum applicable to the City of Temple City, to
wit, the provisions contained in Article 2, Chapter 3, Division 4
(commencing with Section 4050) of the Elections Code.
PASSED, ADOPTED AND SIGNED this 5th day of November, 1974.
ATTEST:
of Deputy City Clerk
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Ordinance No. 74 -394
I, Chief Deputy City Clerk of the City of Temple City,
do hereby certify that the foregoing Ordinance, being Ordinance
No. 74 -394, was introduced at a regular meeting of the City
Council of the City of Temple City, held on the 29th day of
October, 1974, and was duly passed, approved and adopted by said
Council, approved and signed by the Mayor and attested by the
City Clerk at a regular meeting of the said City Council held on
the 5th day of November, 1974, by the following vote:
AYES: Councilmen - Gilbertson, Greenberg, Merritt, Tyrell, Dennis
NOES: Councilmen -None
ABSENT: Councilmen -None
C °ef Deputy City Clerk