2000/10/10 City Council Resolution (9)RESOLUTION NO. 2000 -207
RESOLUTION OF THE ROHNERT PARK CITY COUNCIL APPROVING,
AUTHORIZING AND DIRECTING EXECUTION OF AMENDMENT NO. 2 TO
AMENDED AND RESTATED LOAN AGREEMENT NO. 2
RESOLVED, by the City Council of the City of Rohnert Park (the "City "):
WHEREAS, the City has made certain loans to the Community Development Agency of
the City of Rohnert Park (the "Agency "), as predecessor to the Community Development
Commission of the City of Rohnert Park (the "Commission ") for the purpose of financing the
acquisition and construction of a cultural arts facility for the City, such loans being made pursuant
to a Loan Agreement dated June 28, 1988 between the City and the Agency);
WHEREAS, such loans were modified pursuant to the terms of an Amended and Restated
Loan Agreement No. 2 dated February 27, 1990 between the City and the Agency, to provide
additional loans and to modify the repayment terms of the loans (such loans identified in the
Amended and Restated Agreement as the "Prior Loan," "New Loan No. l," and "New Loan No.
2" and collectively herein, the "Loans ");
WHEREAS, the City and the Commission have further modified the terms of the Loans by
the execution and delivery of Amendment No. 1 to Amended and Restated Loan Agreement No.
2 dated as of January 1, 1999 (the Amended and Restated Loan Agreement No. 2, as amended by
Amendment No. 1, the "Amended and Restated Loan Agreement ") which combined the then
outstanding principal amounts of the Loans into a single loan (the "1999 Loan ") and set forth a
repayment schedule in connection with the 1999 Loan over a 25 -year period;
WHEREAS, the Commission has determined to prepay a portion of the 1999 Loan,
necessitating amendment of the repayment schedule in connection with the 1999 Loan;
WHEREAS, in connection therewith there has been prepared and has been filed with the
City Clerk an Amendment No. 2 ( "Amendment No. 2 ") amending the Amended and Restated
Loan Agreement, and the members of the City Council, with the aid of its staff, have reviewed
said document;
NOW, THEREFORE, it is hereby ORDERED and DETERMINED, as follows:
SECTION 1. That Amendment No. 2 be and is hereby approved, and the City Manager
and the Finance Director /City Treasurer or any other officer as either may designate, are hereby
separately authorized and directed to execute said document, with such changes, insertions and
omissions as may be approved by such official or his designee, and the City Clerk is hereby
authorized and directed to attest to such official's signature.
SECTION 2. The City Manager, the Finance Director /City Treasurer, the City Clerk and
other officials of the City are hereby authorized and directed to execute such other agreements,
documents and certificates as may be necessary to effect the purposes of this resolution.
I certify that the foregoing resolution was duly adopted at a meeting of the City Council of
the City of Rohnert Park held on the loth day of October, 2000, by the following vote:
AYES, and in favor of (5) Five
NOES: (0) None
ABSENT: (0) None
ABSTAIN: (0) None
ity �-
Councilmember Armando Flores AYE
Councilmember Jake Mackenzie AYE
Councilmember James Reilly AYE
Councilmember Linda Spiro AYE
Mayor Vicki Vidak Martinez AYE
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