HomeMy WebLinkAboutRes1996-041
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Sponsored by: Garzini
CITY OF SEWARD, ALASKA
RESOLUTION NO. 96-041
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF SEWARD, ALASKA, APPROVING A FIRST AMENDMENT
TO THE AGREEMENT FOR FINANCING, LEASE, CONSTRUCTION,
OPERATION AND MAINTENANCE OF THE ALASKA SEALlFE
CENTER BETWEEN THE CITY AND SEWARD ASSOCIATION FOR
THE ADVANCEMENT OF MARINE SCIENCE
WHEREAS, on April 28, 1995, the City of Seward (the "City") and Seward Association for
the Advancement of Marine Science ("SAAMS") entered into an Agreement for Financing,
Construction, Operation and Maintenance of the Alaska SeaLife Center (the "Agreement") to
establish the terms on which SAAMS would design, construct, operate and manage the Alaska
SeaLife Center (the "Project"), which will be owned by the City; and
WHEREAS, the City intends to issue its nonrecourse revenue bonds (the "Bonds") to obtain
funds to loan to SAAMS to pay a portion of the cost of constructing the Project; and
WHEREAS, the Bonds will be paid from the revenues of the Project and will be secured in
part by an assignment by SAAMS of its interest under the Agreement to the trustee for the Bonds;
and
WHEREAS, in order to conform the Agreement to the terms of the Bonds, and otherwise
to facilitate the issuance and sale of the Bonds, it is necessary to amend certain provisions of the
Agreement; and
WHEREAS, there has been presented to the City the form of a First Amendment to
Agreement for Financing, Lease, Construction, Operation and Maintenance of the Alaska SeaLife
center (the "Amendment"); and
WHEREAS, it appears that the Amendment, which is now before the City, is in appropriate
form and is an appropriate instrument for the purposes described above;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF SEWARD, ALASKA, that:
Section 1. The form and content ofthe Amendment hereby are in all respects authorized,
approved and confirmed, and the City Manager and Deputy City Manager each hereby is authorized,
empowered and directed to execute and deliver the Amendment to the counterparty for and on behalf
of the City in substantially the form and content now before this meeting but with such changes,
modification, additions and deletions therein which shall to him seem necessary, desirable and
CITY OF SEWARD, ALASKA
RESOLUTION NO. 96-041
appropriate, the execution thereof to constitute conclusive evidence of the approval of any and all
changes, modifications, additions or deletions therein from the form and content of the Amendment
now before this meeting, and from and after the execution and delivery of the Amendment, the City
Manager, Deputy City Manager and City Clerk each is hereby authorized, empowered and directed
to do all such acts and things and to execute all documents as may be necessary to carry out and
comply with the provisions of the Amendment as executed.
Section 2. The City Manager, Deputy City Manager and City Clerk or any other person
authorized by the City each hereby is authorized to execute and deliver for and on behalf of the City
any and all additional certificates, documents, opinions or other papers and perform all other acts
as they may deem necessary or appropriate in order to implement and carry out the intent and
purposes of this Resolution.
Section 3. This resolution shall take effect thirty days after passage and posting as required
by law.
PASSED AND APPROVED by the City Council of the city of Seward, Alaska, this 26th
day of March, 1996.
THE CITY OF SEWARD, ALASKA
AYES:
NOES:
ABSENT:
ABSTAIN:
Anderson, Bencardino, Crane, Deeter, Keil, Sieminski
None
King
None
ATTEST:
(City Seal)
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