HomeMy WebLinkAbout1982 097 CC RESO1982 097 CC RESO (Ìì ê Ì RESOLUTION NO. 82-97
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF BALDWIN PARK AUTHORIZING CERTAIN
LOANS FROM THE GOLDEN STATE SANWA BANK
RESOLVED, that the City of Baldwin Park, California,
a municipality, hereinafter referred to as The City", desires
to borrow, for a period not to exceed six 6) months, from
Golden State Sanwa Bank, a California corporation hereinafter
referred to as Bank," from time to time, such sum or sums of
money as, in the judgment of the officer or officers hereinafter
authorized, this City may require, provided that the aggregate
amount of such borrowing, pursuant to this resolution, shall not
at any one time exceed the sum of Two Hundred Thirty Thousand
Dollars $230,000.00), in addition to such amount as may be
otherwise authorized;
RESOLVED FURTHER, that RALPH H. WEBB, the City Manager,
and DENNIS R. HALLOWAY, the Director of Administrative Services,
of this City the officer or officers, or officers acting in
combination, authorized to act pursuant hereto being hereinafter
designated as authorized officers"), be and they are hereby
authorized, directed and empowered, in the name of this City,
to execute and deliver to Bank, and Bank is requested to accept,
the note or notes, advance account agreements, acceptance
agreements or other instruments evidencing the indebtedness of
this City for the monies so borrowed, or to be borrowed, with
interest thereon, and said authorized officers are authorized
from time to time to execute renewals or extensions of said note
or notes, advance account agreements, acceptance agreements or
other instruments.
RESOLVED FURTHER, that said authorized officers be and
they are hereby authorized, directed and empowered, as security
for any note or notes or any other indebtedness of this City to
Bank, whether arising pursuant to this resolution or otherwise,
to grant a security interest in, transfer, or otherwise
hypothecate to Bank, and to execute and deliver to Bank any and
all loan or credit agreements, grants, transfers, security
agreements, and other hypothecation agreements, which said
instruments and note or notes and other instruments referred
to in the preceding paragraph may contain such provisions, covenants,
recitals and agreements as Bank may require and said authorized
officers may approve, and the execution thereof by said authorized
officers shall be conclusive evidence of such approval.
RESOLVED FURTHER, that said authorized officers may, and
they are hereby authorized, directed and empowered, in addition
to the authorized borrowing set forth above a) to discount with or
sell to Bank, security agreements, leases, bailment agreements,
notes, acceptances, drafts, receivables and evidences of
indebtedness payable to this City, upon such terms as may be
agreed upon by them and Bank, and to endorse in the name of this
City said notes, acceptances, drafts, receivables and evidences
of indebtedness so discounted, and to guarantee the payment of
the same to Bank, and b) to apply for and obtain from Bank
letters of credit and in connection therewith to execute security
agreements, applications, guaranties, indemnities and other
financial undertakings.
RESOLVED FURTHER, that Bank is authorized to act upon
this resolution until written notice of its revocation is
delivered to Bank, and that the authority hereby granted shall
apply with equal force and effect to the successors in office
of the officers herein named.
BIB]
37677-U01
1982-U02
097-U02
CC-U02
RESO-U02
LI3-U03
FO2126-U03
FO10313-U03
DO10315-U03
C6-U03
RESO-U03
2/24/2003-U04
ROBIN-U04
1982 097 CC RESO (Ìì ê Ì Resolution 82-97
Page Two
RESOLVED FURTHER that the City Clerk shall certify
to the adoption of this resolution.
//-'
APPROVED and PASSED th±s /5th day of December, 1982.
MAYOR
ATTEST:
/c^ /^U^
LfNtiA L. GA.^, CITY CLERK
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES) ss.
CITY OF BALDWIN PARK
I, LINDA L. GAIR, City Clerk of the City of Baldwin
Park, a municipality, incorporated under the laws of the State
of California, do hereby certify that the foregoing is a full,
true and correct copy of a resolution of the City Council of
said municipality, duly and regularly adopted by the City Council
of said municipality in all respects as required by law, on the
15th day of December, 1982, at which meeting a majority of the
City Council of said municipality was present and passed the
foregoing resolution by the following vote:
AYES: COUNCILMEN King, Aguilar, McNeill, Izell and Mayor Miite
NOES COUNCILMEN None__________________
ABSENT: COUNCILMEN None
I further certify that said resolution is still in full force
and effect and has not been amended or revoked, and that the
specimen signatures appearing below are the signatures of the
officers authorized to sign for this municipality by virtue
of this resolution.
RSlphH. Webb
Dennis R.
Hallowa^
IN WITNESS WHEREOF, I have hereunto set my hand as
such City Clerk, and affixed the seal of said municipality, this
15th day of December, 1982.
c(/a
Linda L. air. City Clerk
CITY OF BALDWIN PARK
BIB]
37677-U01
1982-U02
097-U02
CC-U02
RESO-U02
LI3-U03
FO2126-U03
FO10313-U03
DO10315-U03
C6-U03
RESO-U03
2/24/2003-U04
ROBIN-U04