HomeMy WebLinkAboutResolutions - No. 98-179RESOLUTION NO. 98-179
A RESOLUTION OF THE LODI CITY COUNCIL APPROVING
THE LEASE LEASE -BACK TRANSACTION RELATED TO THE
ACE ROLLING STOCK
WHEREAS, Section 12 of the Joint Powers Agreement Establishing the San
Joaquin Regional Rail Commission reads in relevant part: "With the approval of, and
upon the terms agreed upon by, the governing body of each party to this Agreement, all
or any of the rights and property subject to this Agreement may be assigned to further
the purpose of this Agreement"; and
WHEREAS, the Board of Commissioners of the San Joaquin Regional Rail
Commission has recommended and requested resolutions from the Parties to the Joint
Powers Agreement Establishing the San Joaquin Regional Rail Commission, approving
a lease lease -back transaction related to the ACE rolling stock; and
WHEREAS, the ACE rolling stock is property subject to the SJRRC JPA; and
WHEREAS, the City Council of the City of Lodi is a Party to the SJRRC JPA.
NOW THEREFORE, BE 1T RESOLVED, that the City Council of the City of Lodi
hereby approves the lease lease -back transaction related to the ACE rolling stock.
Dated: December 1, 1998
I hereby certify that Resolution No. 98-179 was passed and adopted by the City
Council of the City of Lodi in a special meeting held December 1, 1998, by the following
vote:
AYES: COUNCIL MEMBERS — Johnson, Land, Mann, Pennino and
Sieglock (Mayor)
NOES: COUNCIL MEMBERS — None
ABSENT: COUNCIL MEMBERS — None
ABSTAIN: COUNCIL MEMBERS — None
ALICE M. RE CHE
City Clerk
98-179