HomeMy WebLinkAboutCC Reso No 1984-13RESOLUTION NO. 84-13
,, RESOLUTION OF THE CITY COUNCIL OF THE
' CITY OF LAKE ELSINORE, RIVERSIDE COUNTY,
CALIFORNIA~ AUTHORIZING AND APPROVING
THE ISSUANCE OF $1,850,000 PRINCIPAL
AMOUNT OF TAX ALLOCATION BONDS BY THE
REDEVELOPMENT AGENCY OF THE CITY OF
LAKE ELSINORE TO FINANCE A PORTION OF
THE COST OF A REDEVELOPMENT PROJECT
KNOWN AS PROJECT AREA NO. I
WHEREAS, the Redevelopment Agency of the City of Lake
Elsinore (the "Agency") is a redevelopment agency (a public body,
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 Agency include the
power to issue bonds for any of its corporate purposes; and
WHEREAS, the Redevelopment Plan for a redevelopment project
known and designated as "Redevelopment Plan for Rancho Laquna
Redevelopment Project No. I" has been adopted and approved by
Ordinance No. 624 of the City of Lake Elsinore which became
effective on Auqust 12, 1981, and all requirements of law
precedent to the adoption and approval of the Redevelopment Plan
have been duly complied with; and
WHEREAS, for the corporate purposes of the Aqency to aid in
the financing of a portion of the cost of the Redevelopment
Project and for other lawful corporate purposes, the Agency deems
it necessary to issue $1,850,000 principal amount of tax
allocation bonds; and
WHEREAS, the purposes stated above will be accomplished by
issuing $1,850,000 tax allocation bonds pursuant to this Resolu-
tion No. CRA 84-1 known as the "Redevelopment Agency of the City
of Lake Elsinore, Project Area No. I, Tax Allocation Bonds, Issue
of 1984" (the "Bonds"):
NOW, THEREFORE~ THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE
DOES HEREBY RESOLVE~ DETERMINE AND ORDER AS FOLLOWS:
SECTION 1. Approval of Bonds. The City Council hereby
authorizes and approves the issuance of Bonds by the Agency for
the purposes stated above designated as follows:
$1,850,000
Redevelopment Aqency of the
City of Lake Elsinore
Project Area No. I
Tax Allocation Bonds, Issue of 1984
pursuant to the terms and conditions set forth in Resolution No.
CRA 84-1 authorizing issuance of the Bonds and Resolution No. CRA
84-4 awarding sale of the Bonds.
SECTION 2. Ratification of Actions. The City Council hereby
affirms and ratifies all actions eretofore 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 appropriate
to accomplish the purposes of this Resolution.
SECTION 3. Effective Date. This Resolution shall take
effect upon adoption.
PASSED, APPROVED AND ADOPTED this 24th day of April, 1984.
o~
Mayor
ATTEST:
City Clerk
SEAL)
2.
STATE OF CALIFORNIA )
)
COUNTY OF RIVERSIDE )
I~ JO ANN MONEY,
California, DO HEREBY
Resolution No. 84-13,
City at a regular mee
April, 1984, and that
vote:
City Clerk of the City of Lake Elsinore,
CERTIFY that the foreqoing Resolution, being
was duly adopted by the City Council of said
ting of said Agency held on the 24th day of
it was passed and adopted by the following
AYES: COUNCILMEMBERS: KNIGHT, MATSON, STRIGOTTE, VERMILLION
VALENZUELA
NOES: COUNCILMEMBERS~ NONE
ABSENT: COUNCILMEMBERS: NONE
ABSTAIN: COUNCILMEMBERS: NONE
Executed this 24th day of April, 1984, at Lake Elsinore,
California.
~c~_
City Clerk
(SEAL)