CC RES 2022-018 RESOLUTION NO. 2022-18
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
RANCHO PALOS VERDES, CALIFORNIA AUTHORIZING
REPLACING THE POINT VICENTE INTERPRETIVE CENTER
WITH FRED HESSE, JR. COMMUNITY PARK AS A PORTION
OF THE LEASED COLLATERAL PROPERTY IN THE SITE
LEASE, SUBLEASE, SUPPLEMENTAL AGREEMENT AND
ASSIGNMENT AGREEMENT RELATING TO FINANCING A
PORTION OF THE IMPROVEMENTS AT LADERA LINDA
COMMUNITY PARK AND DIRECTING CERTAIN RELATED
ACTIONS IN CONNECTION THEREWITH
WHEREAS, the City of Rancho Palos Verdes (the "City") is a municipal corporation and
general law city duly organized under the Constitution and the laws of the State of California
("State"); and
WHEREAS, the City desires and has determined it is in the public interest, and a public
purpose to finance improvements to Ladera Linda Community Park ("the "Project"); and
WHEREAS, pursuant to Resolution No. 2022-12 adopted by the City Council on March
1, 2022 (the "Resolution"), the City Council approved the execution and/or delivery of (a) the
Site Lease, dated as of March 1, 2022, by and between the City and the Public Property
Financing Corporation of California (the "Corporation"); (b) the Sublease, dated as of March 1,
2022 ("Sublease"), by and between the Corporation and the City; (c) the Assignment
Agreement, dated as of March 1, 2022, by and between the Corporation and the Bank of the
West (the "Bank"); and (d) the Supplemental Agreement, dated as of March 1, 2022, by and
between the City and the Bank (collectively, the "Lease Documents"); and
WHEREAS, the property to be leased and subleased under the Lease Documents, as
approved, constituted the (i) Ladera Linda Community Park, and (ii) the Point Vicente
Interpretive Center; and
WHEREAS, due to certain title restrictions with respect to the Point Vicente Interpretive
Center property, the City Council has determined to lease and sublease the Fred Hesse, Jr.
Community Park property instead of the Point Vicente Interpretive Center as part of
theCollateral until the Project is complete after which time it will be removed pursuant to the
documents; and
WHEREAS, the City desires to formally approve the change in the property subject to
lease and sublease under the Lease Documents; and
WHEREAS, the City has duly considered such transactions and wishes at this time to
approve certain matters relating to the transactions as being in the public interest of the City.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RANCHO PALOS
VERDES DOES HEREBY FIND, DETERMINE, AND RESOLVE AS FOLLOWS:
Section 1. The foregoing recitals are true and correct and incorporated herein by this
reference.
Section 2. The City Council hereby approves of the lease and sublease of the Fred
Hesse, Jr. Community Park property in place of the Point Vicente Interpretive Center as part of
the leased property under the Lease Documents as presented and as may be adjusted pursuant
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to the terms of the Resolution No. 2022-12. Except as adjusted hereby all other terms of
Resolution No. 2022-12 remain in full force and effect.
Section 3. The Mayor, City Manager, Finance Director or City Clerk and such other
officers of the City are authorized and directed, jointly and severally, to do any and all things and
to execute 'and deliver any and all documents and certifications which they may deem
necessary or advisable in order to consummate the execution and delivery of the Lease
Documents, and, following completion of the Project by the City to release the Fred Hesse, Jr.
Community Park Property pursuant to the provisions of the Sublease, and otherwise effectuate
the purposes of this Resolution and Resolution No.2022-12, and such actions previously taken
by such officers are hereby ratified and confirmed.
Section 4. This Resolution shall take effect immediately upon its passage and adoption.
PASSED, APPROVED AND ADOPTED on this 5th day of April 2022.
. AAP -David L. Bradley, Mayo
Te sa Takaoka, City Clerk
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss
CITY OF RANCHO PALOS VERDES )
I, Teresa Takaoka, City Clerk of the City of Rancho Palos Verdes, do hereby certify that the
foregoing Resolution No. 2022-18 was duly adopted by the City Council of the City of Rancho
Palos Verdes at a regular meeting held on the 5th day of April 2022.
Tema Takaoka, City Clerk
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Resolution No 2022-18
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