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RESOLUTION NO. TPFA 02-01
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
TUSTIN PUBLIC FINANCING AUTHORITY AUTHORIZING
ACCEPTANCE OF A QUITCLAIM DEED, EXECUTION OF A
PROMISSORY NOTE AND DEED OF TRUST, RECORDATION
OF THE QUITCLAIM DEED AND DEED OF TRUST, AND
DELIVERY OF THE PROMISSORY NOTE AND COPY OF THE
RECORDED DEED OF TRUST; AND AUTHORIZING THE
EXECUTIVE DIRECTOR TO ACCEPT THE QUITCLAIM DEED,
EXECUTE THE PROMISSORY NOTE AND THE DEED OF
TRUST, AND TO TAKE ALL NECESSARY IMPLEMENTING
ACTIONS.
The Tustin Public Financing Authority finds as follows:
A. On or about May 8, 2002, the City of Tustin ("City") contracted to acquire
certain property located at the former Marine Corps Air Station ("MCAS") from the Untied
States Government, which property has since been conveyed to the City.
B. On or about May 10, 2002, the City entered into a Settlement and
Release Agreement among the Santa Ana Unified School District ("District"), the City, the
Tustin Local Redevelopment Authority for the U.S. Marine Corps Air Station, Tustin, and the
Tustin Public Financing Authority ("Authority") (hereinafter referred to as the Settlement
Agreement).
C. Pursuant to the Settlement Agreement, the Authority desires to acquire
property from the City and to furnish the District with a Promissory Note in the amount of
Sixty Million Dollars ($60,000,000.00) and a Deed of Trust to secure the Note.
D. The proposed acceptance of the Quitclaim Deed, approval of the
Promissory Note and Deed of Trust, and all other actions contemplated herein are solely to
secure financial obligations and are not a "project" within the meaning of the California
Environmental Quality Act ("CEQA").
II. The Tustin Public Financing Authority resolves as follows:
A, That the actions contemplated herein are solely to secure financial
obligations and are not a "project" within the meaning of CEQA.
B. That the Promissory Note and Deed of Trust attached hereto as Exhibit
"A" are approved and that the Chairperson or Vice Chairperson, in the Chairperson's
absence, the Executive Director, and Secretary are authorized to sign the Note and Deed of
Trust.
Tustin Resolution No.
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C. That the Executive Director is authorized to accept the Quitclaim Deed
as shown in Exhibit A of City Council Resolution No. 02-91, cause the recordation of the
Quitclaim Deed and Deed of Trust, and cause delivery of the Promissory Note and copy of
the recorded Deed of Trust to the District, and to take all other implementing actions.
PASSED AND ADOPTED at a special meeting of the Tustin Public Financing
Authority held on the 23rd day of September, 2002.
ATTEST:
II PAMELA STOKER
U-IISECRETARY
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EXHIBIT "A"
(Promissory Note and Deed of Trust)
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City of Tustin
TUSTIN PUBLIC FINANCING AUTHORITY
RESOLUTION CERTIFICATION
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF TUSTIN )
RESOLUTION NO. TPFA 02-01
I, PAMELA STOKER, Recording Secretary of the Tustin Public Financing Authority of the City of
Tustin, California, does hereby certify that the whole number of the members of the Financing
Authority is five; that the above and foregoing resolutionwas rpdassed and adopted at a special
meeting of the Tustin Public Financing Authority held on the 23 day of September, 2002, by the
following vote:
AGENCY MEMBER AYES:
AGENCY MEMBER NOES:
AGENCY MEMBER ABSTAINED:
AGENCY MEMBER ABSENT:
Thomas, Worley, Bone, Doyle
None
None
Kawashima
mela~
Stoker, Recording Secretary