HomeMy WebLinkAboutCC Reso No 1990-046RESOLUTION NO. 90-46
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF LAKE ELSINORE APPROVING ISSUANCE BY THE
REDEVELOPMENT AGENCY OF ITS NOT TO EXCEED
$7,000,000 PRINCIPAL AMOITNT OF REDEVELOPMENT
AGENCY OF THE CITY OF LAKE ELSINOR~ ItANCHO
LAGUNA REDEVELOPMENT PROJECT AREA NO. I 1990
TAX ALLOCATION REFUNDING BONDS t1ND ITS
$7,000,000 PRINCIPAL AMOUNT OF R,ED~VELOPMENT
AGENCY OF THE CITY OF LAI~~ ~LSINORE R.ANCHO
LAGUNA R~DEV~LOPM~NT PILOJECT AREA NO. II
1990 SUBORDINA'I'~ 'i'AX ALLOCATION BONDS
WHEREAS, the Redevelopment Agency of the City of Lake Elsinore (the
"Agency") proposes to issue its not to exceed $7,000,000 principal amount of
Itedevelopment Agency of the City of Lake Elsinore Rancho Laguna Redevelopment
Project Area No. I 1990 Tax Allocation Refunding Bonds and its not to exceed $7,000,000
nrincipal amount of Redevelopment Agency of the City of Lake Elsinore Rancho Laguna
Redevelopment Project Area No. II 1990 Subordinate Tax Allocation Bonds (collectively
called the "Bonds"), under and pursuant to the provisions of Part 1 of Division 24
(commencing with Section 33000) of the Health and Safety Code of the State of California
(the "Law") and other applicable laws, for the purpose of refinancing and providing
additional financing for redevelopment activities within and of benefit to the Agency's
Rancho Laguna Redevelopment Project Areas No. I and No. II;
WHEREAS, Section 33640 of the Law requires the Agency to obtain the approval
of the City Council of the City of Lake ~lsinore prior to issuance of the Bonds; and
WHEREAS, the City Council approves of the issuance of the Bonds as being in
the public interests of the City of Lake ~Isinore and of the Agency;
NOW, TIiEREFORE, BE IT RESOLVED by the City Council of the City of Lake
~lsinore as follows:
SECTION 1. Approaal of Issuance of Bonds. The City Council of the City of
Lake Elsinore approves the issuance of the Bonds by the Redevelopment Agency of the
City of Lake Elsinore as hereinabove described.
SECTION 2. Effective Date.
d(.~Opt10R.
PASS~D AND ADOPTED this ~
AYES: COUNCILPIEMBERS:
NO~S: COUNCILMEMBERS:
ABS~NT: COUNCILMEMBERS:
(S~AL)
This Resolution shall take effect from and after its
2nd day of May, 1990, by the following vote:
BUCK, DOP1INGUEZ, STARKEY, WINKLER, WASHBURN
NONE
NONE ~ ~ ~ I ~ ~ -. A
Atte :
BY~ 1,~_
VICKI KASNU, CITY CL-RK
CITY OF LAKE ELSIN~RE
GARY M. SHQURN, MAYOR
CITY 0 L KE ELSINORE
~ APPROVE6 AS 70 FORM & LEGALITY:
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) SS:
CITY OF LAKE ELSINORE )
I, Vicki Lynne Kasad, City Clerk of the City of Lake Elsinore,
DO HEREBY CERTIFY that the £oregoing Resolution duly adopted by the
City Council of the City of Lake Elsinore at a regular meeting
of said Council on the 22nd day of May, 1990, and that it was so
adopted by the following vote:
AYES: COUNCILMEMBERS: BUCK, DOMINGUEZ, STARICEY
WINKLER, WASHBURN
NOES: COUNCILMEMBERS: NONE
ABSENT: COUNCILMEMBERS: NONE
ABSTAIN: COUNCILMEMBERS: NONE
ICKr L N A~ CLERK
CITY OF E ELSINORE
(SEAL)
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) SS:
CITY OF LAKE ELSINORE )
I, Vicki Lynne Kasad, City Clerk of the City oi Lake Elsinore,
DO HEREBY CERTIFY that the above and foregoing is a full, true and
correct copy of Resolution No. 90-4G of said Council, and that the
same has not been amended or repealed.
: June 13, 1990
~ ~q,
VT~KI-LY KASAD, CITY CLERK
CITY OF E ELSINORE
(SEAL)