RES-8855 Authorizing Execution of Automated Teller Machine Facility LeaseRESOLUTION NO. 8855
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF ORANGE APPROVING THE TERMS
AND PROVISIONS AND AUTHORIZING
EXECUTION OF AN AUTOMATED TELLER
MACHINE FACILITY LEASE WITH BANK OF
AMERICA NATIONAL TRUST AND SAVINGS
ASSOCIATION, AS LESSEE
WHEREAS, the City Council of the City of Orange has heretofore approved the terms
and provisions of an Agreement for Purchase and Sale and Joint Escrow Instructions ("Purchase
Agreement") by and between the City of Orange and BA Properties, Inc., a Delaware corporation
Seller"), and the successor in interest to Bank of America National Trust and Savings
Association, a national banking association ("Bank"), whereby the Seller has agreed to sell, and
the City has agreed to purchase, that certain real property commonly known as 132 North Center
Street and 345 East Chapman Avenue (the "Property"); and
WHEREAS, if the City is satisfied with all of the terms and conditions contained in the
Purchase Agreement and acquires title to the Property, the City Council desires to lease to the
Bank, and the Bank desires to lease from the City, the use of a portion of the Property as an
automated teller machine facility in accordance with the terms and provisions of an Automated
Teller Machine Facility Lease (the "Lease") in substantially the form presented at this meeting
and under the authority granted to it by California Government Code Section 37350.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Orange
as follows:
I. The City Council hereby finds and determines that the terms and provisions of the
Lease between the City and Bank with respect to the lease of a portion of the Property,
substantially in the form as submitted by the City Manager, with such revisions as the City
Manager may make and subject to the approval of the City Attorney, are approved.
2. If, and only if, the City acquires title to the Property in accordance with the terms and
provisions of the Purchase Agreement (as the same may be amended from time to time), the
Mayor is authorized to execute, and the City Clerk to attest the Lease on behalf of the City.
3. The City Manager is hereby authorized and directed to execute on behalf of the City of
Orange all documents necessary and appropriate to carry out and implement the Lease and to
administer the City's obligations, responsibilities and duties to be performed thereunder.
ADOPTED this 9th day of December, 1997.
ATTEST:
AUA;t
City Clerk oft Ity of Orange
I hereby certify that the foregoing Resolution was duly and regularly adopted by the City
Council of the City of Orange at a regular meeting thereof held on the ~ th of December
1997, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
COUNCIL MEMBERS: Murphy, Slater, Coontz, Spurgeon,Alvarez
COUNCIL MEMBERS: None
COUNCIL MEMBERS: None
COUNCIL MEMBERS: None
C4/~ti Cu--A~
J-d City Clerk of the y
of Orange Reso No. 8855 2-