ORDINANCE NO. 581
AN ORDINANCE OF THE COUNTY OF RIVERSIDE APPROVING THE
RIVERSIDE COUNTY JUVENILE FACILITIES CORPORATION AND
THE COUNTY OF RIVERSIDE LEASE AND SUBLEASE
The Board of Supervisors of the County of Riverside, State of California, do ordain as follows:
Section 1. RECITALS.
a. Pursuant to Section 54241 of the Government Code of the State of California, the County of Riverside (the "County") is required to authorize by ordinance the act of entering into lease and sublease agreements with The Riverside County Juvenile Facilities Corporation (the "Corporation"); and
b. Under the Riverside County Juvenile Facilities Corporation and the County of Riverside Lease and Sublease (the "Lease"), a copy of the form of which is on file with the County Clerk of the County, the County leases to the Corporation the necessary land (the "Site") for the construction of a County Juvenile Hall and related facilities (the "Facilities") for a collective advance rental from the Corporation of $1.00 and the Corporation will construct the Facilities in accordance with the plans and specifications of the County and sublease the same to the County; and
c. The Corporation intends to issue, in series, its Leasehold Mortgage Bonds in the approximate aggregate principal amount of $6,000,000, designated "Leasehold Mortgage Bonds, Issue of 1980"; and
d. The lease has been prepared by bond counsel and has been approved by County Counsel substantially in the form on file with the County Clerk of Riverside County.
Section 2. LEASE APPROVAL. The act of entering into the Lease by the County is hereby approved provided that the aggregate annual base rental as recited therein shall not exceed $650,000.
Section 3. REFERENDUM REFERENCE. This ordinance is subject to the provisions for referendum set forth in Section 4050, Division 4, Article 2 of the California Elections Code.
Section 4. PUBLICATION. This ordinance shall, within 15 days, be published once in The Press‑Enterprise, a newspaper of general circulation printed, published and circulated in the County.
ADOPTED: 9/9/80 (Eff.: 10/9/80)