HomeMy WebLinkAboutMinutes - Minutes - City Council - Meeting Date: 10/19/1982MINUTES OF A SPECIAL MEETING OF THE CITY 'COUNCIL
OF THE CITY OF GLENDALE, MARICOPA COUNTY, ARIZONA,
HELD OCTOBER 19, 1982 AT 5:00 P.M.
The meeting was called to order by Mayor Renner with the
following members present: Huffman, Heatwole, Falbo and Ward.
Members absent: Asdell and Toil -by.
Also present were Gordon Pedrow® Assistant to the City
Manager; William E. Farrell, City Attorney; and Lavergne Behm,
City Clerk.
Sale of Real Property, Municipal office Complex
On October 5, 1982, the City Council authorized a call
for bids for the purchase of certain real property owned by
the City, the razing ng of the buildings -hereon and the con -
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struction and resale to the City of a municipal office complex.
Bids were opened at 4 p.m., October 19, 1982.
Ordinance No. 1219 New Series was read by number and
title only, it being AN ORDINANCE OF THE CITY COUNCIL OF THE
CITY OF GLENDALE, MARICOPA COUNTY, ARIZONA, RELATING TO THE
REFINANCING OF CERTAIN LAND AND FINANCING A NEW MUNICIPAL
OFFICE COMPLEX; AWARDING TO THE CITY OF GLENDALE MUNICIPAL
PROPERTY CORPORATION, A NONPROFIT ARIZONA CORPORATION, A
CONTRACT WHEREBY SAID CORPORATION WILL (1) PURCHASE FROM THE
CITY CERTAIN PARCELS OF REAL ESTATE FOR A SPECIFIED SUM, (2)
CONSTRUCT OR CAUSE TO BE CONSTRUCTED THE MUNICIPAL OFFICE COM-
PLEX ON THE LAND SO PURCHASED AND ON OTHER LAND OWNED BY THE
CITY, (3) PROVIDE FURNISHINGS AND EQUIPMENT FOR THE MUNICIPAL
OFFICE COMPLEX, AND (4) SELL ALL OF THE FOREGOING TO THE CITY
ON THE TERMS OF THAT CERTAIN AGREEMENT DATED AS OF OCTOBER 19,
1982, BETWEEN THE CITY AND THE CORPORATION; PROVIDING FOR THE
AUTHORIZATION OF THE MAYOR TO EXECUTE SAID AGREEMENT AND FOR
THE CITY CLERK TO ATTEST THE EXECUTION THEREOF ON BEHALF OF
THE CITY OF GLENDALE; PROVIDING FOR THE PLEDGE AND LIEN OF
CERTAIN REVENUES AND TAXES; AUTHORIZING THE MAYOR TO EXECUTE
A FINANCING STATEMENT AS NOTICE OF SAID PLEDGE; APPROVING THE
FORM OF BOND TO BE USED TO OBTAIN FUNDS TO FINANCE THE UNDER-
TAKING; AUTHORIZING THE EXECUTION OF A NONARBITRA"'33E CERTIFICATE;
AND DECLARING AN EMERGENCY.
Motion by Heatwole, seconded by Ward, to pass, adopt and
approve Ordinance No. 1219 New Series and authorize and direct
the Mayor to sign the same. Motion carried with the following
, 7
mem1mrs voting "Aye": Huff -man, Heatwole, Renner. FaLoo and
Ward. Members voting "Nay'" None, Asdell and Tolby being
absent.
Mayor Renner stated that the bids opened for the Municipal
Property Corporation financing of City Hall- were awarded to
a group led by Merrill Lynch White Weld Capital Markets. The
average net interest rate was 9.7775% which is exceptional in
terms of the City's financial interests.
Council Comments and Suggest -ions
None.
Adjournment
There being no further business, the -meeting adjourned
at 5:04 P.M.
(pity IJerk
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