HomeMy WebLinkAboutCC Reso No 1986-59,
I RESOLUTION NO. ftfi-59
' RESOLUTION OF THE CITY COUNCIL OF THE
, CITY OF LAKE ELSINORE, RIVERSIDE COUNTY,
', CALIFORNIA, AUTHORIZING AND APPROVING THE
ISSUANCE OF TAX ALLOCATION BONDS OF THE
REDEVELOPMENT AGENCY IN THE PRINCIPAL
I AMOUNT OF $3,600,000 FOR RANCAO LAGUNA
REDEVELOPMENT PROJECT AREA NO. 22 ~
' WHEREAS, the Redevelopment Agency of the City of Lake
', Elsinore (the "Agency") is a redevelopment agency (a public body,
'I
' corporate and politic) duly created, established and authorized
, to transact business and exercise its powers, all under and
~
pursuant to the Community Redevelopment Law, being Part 1 of
', Division 24 (commencing with Section 33000) of the Health and
, Safety Code of the State of California and the powers of the
I Agency include the power to issue bonds and/or notes for any of ;
I its corporate purposes; and
~
~ WHEREAS, the Redevelopment Plan for a redevelopment project
, known and designated as "Rancho Laguna Redevelopment Plan for
~ Lake Elsinore Redevelopment Project Area No. II" has been adopted !~
_
and approved by Ordinance No. 671 of the City of Lake Elsinore,
enacted on July 18, 1983, and all requirements of law precedent
, to the adoption and approval of the Redevelopment Plan have been
' duly complied with; and _
' WHEREAS, the Agency has heretofore adopted a resolution
' entitled "Resolution of the Redevelopment Agency of the City of
Lake Elsinore, Riverside County, California, Authorizinq the
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', Issuance of $3,600,000 Principal Amount of Tax Allocation Bonds,
Series 1986, Rancho Laguna Redevelopment Project Area No. II" i
', (the "Resolution of Issuance"), to finance a portion of the costs
' of Redevelopment Projects for Redevelopment Project Area No. II; ~
' and
I
! WHEREAS, the purposes stated above will be accomplished by ~
~ the issuance of $3,600,000 Tax Allocation Bonds pursuant to the ,
i
i Resolution of Issuance: ~
I, NOW, TAEREFORE, the City Council of the City of Lake Elsinore
does hereby RESOLVE, DETERMINE AND ORDER as follows:
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~
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I Section 1. Abproval of Bonds. The City Council hereby
' authorizes and approves the issuance of Bonds by the Agency for
~ the purposes stated above in the aggregate principal amount and
, designated as follows: ~
I $3,600,000
' REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE
RANCHO LAGUNA REDEVELOPMENT
PROJECT AREA NO. II
~ TAX ALLOCATION BONDS, SERIES 1986
~
I
', pursuant to the terms and conditions set forth in the Resolution
' of Issuance.
~
', Section 2. Ratification of Actions. The City Council hereby
~
' affirms and ratifies all actions heretofore taken incident to the
~, authorization, issuance, sale and delivery of the Bonds and
hereby authorizes and directs the appropriate officers of the
City to execute such documents and take such actions as may be
,
I appropriate to accomplish the purposes of this Resolution and the
, Resolution of Issuance. '
I
; Section 3. Effective Date. This Resolution shall take '
effect upon adoption. '
, INTRODUCED AND APPROVED UPON FIRST READING this 26th day of I
~ August, 1986, by the followinq vote:
I
', AYES: COUNCILMEMBERS: DOMINGUEZ, MATSON, WINKLER, STRIGOTTE
~ NOES: COUNCILMEMBERS: VERMILLION II
ABSENT: COUNCILMEMBERS: NONE '
', ABSTENTIONS: COUNGILMEMBERS: NONE i
I
STATE OF CALIFORNIA )
) ss.
COUNTY OF RIVERSIDE )
I, Jo Ann Oliver,City Clerk of the City of Lake Elsinore,
DO HEREBY CERTIFY that the foregoing resolution was duly adopted by
the City Council of the City of Lake Elsinore at a regular meeting of
said Council on the 26th day of Ai,~,~ ~ggg , and
that it was so adopted by the following vote:
AYES: COUNCILMEMBERS:
NOES: COUNCILMEMBERS:
ABSENT: COUNCILMEMBERS:
(SEAL)
STATE OF CALIfORNIA )
) ss.
COUNTY OF RIVERSIDE )
f
.
ANN OLIVER, CITY CLERK
ITY OF LAKE ELISNORE
I, Jo Ann Oliver, City Clerk of the City of Lake Elsinore,
DO HEREBY CERTIFY that the above and foregoing is a fuli, true and
correct copy of Resolution No. g6_59 , of said Council, and that
the same has not been amended or repealed.
DATED:
~ .
ANN LI ER, CITY CLERK
CITY OF LAKE ELSINORE
(SEAL)