HomeMy WebLinkAboutResolution No. 4501 RESOLUTION NO. 4501
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DOWNEY
WITH RESPECT TO THE COMMUNITY DEVELOPMENT COMMISSION
OF THE CITY OF DOWNEY ENTERING INTO THE LEASE AGREEMENT
FOR THE PURPOSE OF FINANCING
A MEDICAL OFFICE BUILDING AND RETIREMENT CARE FACILITY
OF BROOKSHIRE PARTNERSHIP
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DOWNEY:
WHEREAS, the Community Development Commission of the City of Downey
(the "Commission ") proposes to aid in the financing of a medical office
building and retirement care facility together with related property (the
"Project ") situated in a redevelopment project area of the Commission by
leasing the Project from Brookshire Partnership, a California partnership,
pursuant to that certain Lease Agreement, dated as of December 1, 1984 (the
"Agreement ").
WHEREAS, in accordance with Section 103(k) of the Internal Revenue Code
of 1954, as amended, the Community Development Commission has duly called and
conducted a hearing on said financing, notice of which has been given in
accordance with said Section 103(k).
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of
Downey, as follows:
1. The City Council hereby approves the entering into by the
Commission of the Agreement for the purpose of financing the Project in
accordance therewith.
2. This resolution shall take effect immediately.
APPROVED AND ADOPTED THIS 18th day of December , 1984.
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City Clerk
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I HEREBY CERTIFY that the foregoing Resolution No. 4501 was duly
adopted by the City Council at a regular meeting thereof held on the 18th day
of December , 1984, by the following vote:
AYES: 5 Council Members: Santangelo, Davila, Boggs, Cormack, Barb
NOES: 0 Council Members: None
._.. ABSENT: 0 Council Members: None
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City Clerk