RES 73151 - Laserfiche WebLink

CITY OF PLEASANTON COUNTY OF ALAMEDA STATE OF CALIFORNIA RESOLUTION NO. 73-151 A RESOLUTION AUTHORIZING AND RATIFYING A REDUCTION IN THE INTEREST RATI~OFTHE FACILITY LEASE EFEWEBN CITY OF PLEASANTON AND C~TY OF PLEASAMTONP~BLIC FACILITIES CORPORATION, AND AMEndMENT TO SECTION 3(s) of SAID LEASE WHEREAS, on July 1, 1973, the City of Pleasanton entered into a facility lease with City of Pleasanton Public Facilities CorporatiOn for an interim Civic Center office building and related improvements to be located at 200 Bernal Avenue in the City of Pleasanton; and WHEREAS said facility lease set forth in section 3(a) the base rental to be paid monthly by City to City of Pleacanton Public Facilities Corporation in order to repay the loan obtained from First National Bank of Pleasanton and Security Pacific Bank by corporation in order to build said facility; and WHEREAS, pursuant to a letter agreement between City of Pleasanton Public Facilities Corporation and First National Bank of Pleasanton and Security Pacific Bank dated July 1, 1973, it was agreed that the interest rate of the aforementioned loan would be reduced from 9.5% to 5.2% upon receipt of a letter from the Internal Revenue Service exempting the proceeds of said loan from taxation; and WH!Iq~AS, On AUgust 30, 1973, a letter was written by the Internal RevenUe Service granting a tax exempt ruling to corpora- tion in the above matter; and WHE~aAS it is to the benefit of the City o~I~lleaeant~ to h~ve the amount of interest on said loan. reduced from 9.5% to 5.2% which will result in a reduction of the base rental under t~e ~acility lease, NOW THEREF(M~E, the Council of the City of Pleasanton does here~y resolve as follows: 'Se~i~ 1. The Council acknowledges receipt of a copy of