Ordinance - 1224ORDINANCE NO. 1224
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
WEST COVINA APPROVING THE PROPOSED LEASE OF PARKING
FACILITIES FROM THE PARKING AUTHORITY OF THE CITY
OF WEST COVINA.
WHEREAS, On July 26, 1971, this Council adopted
Resolution No. 4415 providing for the activation of a
parking authority to be known as "The Parking Authority
of the City of West Covina"; and
WHEREAS, said Authority has been duly constituted
and formed pursuant to the Parking Law of 1949 (Division 18,
Part 2, of the Streets and Highways Code of the State of
Calif ornia); and
WHEREAS, said Authority proposes to lease from the
West Covina Redevelopment Agency certain property located
within the City of West Covina (the "Site" herein) and to
construct on the Site a parking structure.and related
facilities (the "Facilities") all asset forth in the plans
and specifications prepared for said Authority by Burke, Kober,
Nicolas, Archuleta, which plans and specifications are on file
at the office of Secretary of the Authority; and
WHEREAS, the Authority proposes to finance the
construction of the Facilities by the issuance, of its revenue
bonds; and
WHEREAS, said Authority proposes to sublease the Site
and Facilities to the City of West Covina for a term of years
according to the terms and provisions of a document entitled
"Parking Authority of the City of West Covina -West Covina Parking
Facilities Sublease", a copy of which is on file with the City
Clerk of the City of West Covina and by this reference is fully
incorporated herein; and
WHEREAS, Title 5, Division 2, Article-9 of the Government
Code of the State of California (commencing with S 54240) requires
that in such cases the lease agreement between City and Authority
be approved by ordinance;
NOW, THEREFORE, the City Council of the City of West
Covina DOES ORDAIN as follows:
SECTION 1. That certain document entitled "Parking
Authority of the City of West Covina -West Covina Parking Facilities
Sublease" which will provide for the sublease of the Facilities from
the Authority to the City of West Covina, is hereby approved provided
that the annual base rental payable thereunder shall not exceed
$700, 000.00.
SECTION 2. The City Clerk shall certify to the adoption
of this ordinance, shall transmit a certified copy thereof to the
Authority and shall cause the same to be published as required by law.
SECTION 3. This Ordinance shall be effective 30 days from
the date of its adoption and shall be subject to referendum in accor-
dance with the provisions of the Government Code of the State of
California.
PASSED AND APPROVED this 23rd da f July , 1973.
ATTEST:
ay
City Cler
0
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES SS.
CITY OF WEST COVINA )
I, LELA W. PRESTON, City Clerk of the City of West
Covina, do hereby certify that the.foregoing Ordinance No. 1224
was regularly introduced and placed upon its first reading at
a regular meeting of the City Council on the 9th day of July
1973. That, thereafter, said ordinance was duly adopted and
passed at a regular meeting of the City Council on the 23rd day
of July , 1973, by the following vote, to wit:,
AYES: Councilmen: Young, Nichols, Shearer, Chappell, Lloyd.
NOES: Councilmen: None
ABSENT: Councilmen: None
APPROVED AS TO FORM:
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Citf Attorney 0
City Clerk
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