HomeMy WebLinkAboutCC Reso No 1999-18 r
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RESOLUTION NO. 99- 1$
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE
ELSINORE TAHING CERTAIN ACTIONS IN CONNECTION WITH THE
ISSUANCE OF REDEVELOPMENT AGENCY OF THE CITY OF LAKE
ELSINORE COMMUNITY FACILITIES DISTRICT NO. 90-2 (TUSCANY
HILLS PUBLIC IMPROVEMENTS) SPECIAL TAX PARITY BONDS
WHEREAS, the Governing Boazd of the Redevelopment Agency of the City of Lake
Elsinore (the "Agency") has conducted proceedings under and pursuant to the Mello-Roos
Community Facilities Act of 1982, as amended (the "AcY'), to form the Redevelopment Agency of
the Ciry of Lake Elsinore Community Facilities District No. 90-2 (Tuscany Hills Public
Improvements) (the "DistricY'), to authorize the levy of special taxes upon the land within the
District, and to issue bonds secured by said special taxes the proceeds of which aze to be used to
finance certain facilities (the "Facilities"), all as described in the Resolutions entitled, "A Resolution
of Formation of Redevelopment Agency of the City of Lake Elsinore Community Facilities District
No. 90-2 .(Tuscany Hills Public Improvements), Authorizing the Levy of a Special Tax Within the
District, Preliminarily Establishing an Appropriations Limit for the District and Submitting Levy of
the Special Tax and the Establishment of the Appropriations Limit to the Qualified Electors of the
District" and "A Resolution Determining the Necessity to Incur Bonded Indebtedness Within the
Redevelopment Agency of the'City of Lake Elsinore Communiry Facilities District No. 90-2
(Tuscany Hills Public Improvements) and Submitting Proposition to the Qualified Electors of the
District", adopted by this date; and
WHEREAS, pursuant to said resolution, an election was held within the District on
November 27, 1990 and the qualified electors approved the propositions of the incurrence of the
bonded debt and the levy of the special tax by more than two-thirds of the votes cast at said special
election; and
WHEREAS, on January 23, 1991, the first series of bonds for the District were
issued in the principal amount of $14,088,000 pursuant to a Fiscal Agent Agreement, dated as of
December 1, I 990, which was subsequently amended on May 23, 1995 (the "Prior AgreemenY'), by
and between the Agency and the Lake Elsinore Public Financing Authority, designated
"Redevelopment Agency of the City of Lake Elsinore Community Facilities District No. 90-2
(Tuscany Hills Public Improvements) 1990 Special Tax Bonds" (the "Prior Bonds"); and
WHEREAS, for the purpose of funding the acquisition of certain public
improvements previously consuucted and to finance the construction of certain additional public
improvements (the "Proj~ct"), the Agency desires to issue bonds on a parity with the Prior Bonds
designated "Redevelopment Agency of the City of Lake Elsinore Community Facilities District No.
90-2 (Tuscany Hills Public Improvements) Special Tax Parity Bonds,1999 Series A" (the "Bonds");
and
DK09720/990241 /540188.I
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PASSED AND ADOPT'ED this 13th day of Apri 1 , 1999.
Ayes: COUNCILMEMBERS: BRINLEY, METZE, PAPE, SCHIFFNER, KELLEY
Noes: COUNCILMEMBERS: NONE
Abstain: COUNCILMEMBERS: NONE
Absent: COUNCILMEMBERS: NONE
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Mayor
A i; FEST: ~
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City Clerk
DK 09720/990241 /54018 B.1
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APPROVED AS TO FORM AND
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) SS:
CITY OF LAKE ELSINORE )
I, VICHI KASAD, CITY CLERK OF THE CITY OF LAKE ELSINORE,
CALIFORNIA, DO HEREBY CERTIFY that the foregoing Resolution duly adopted by
the City Council of the City of Lake Elsinore at a Regular Meeting of said
Council on the 13th day of April, 1999, and that it was so adopted by the following
vote:
AI'ES:
NOES:
ABSENT:
ABSTAIN:
COUNCILMEMBERS: BRINLEY, METZE, PAPE
SCHIFFNER,KELLEY
COUNCILMEMBERS: NONE
COUNCILMEMBERS: NONE
COUNCILMEMBERS: NONE
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VICHI KASAD, CITY CLERK
t>~TY Q~?~ LAKE ELSINORE
(SEAL)
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) SS:
CITY OF LAKE ELSINORE)
I, VICHI KASAD, CITY CLERK OF THE CITY OF LAKE ELSINORE,
DO HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of
Resolution No. 99-18 of said Council, and that the same has not been amended or repealed.
DATE: March 24,1999
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`7F~CI~ASAID, ~ITY CLERK
Ci'~'Y OF LAK~, ELSINORE
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