HomeMy WebLinkAbout1993-08-24; City Council; Resolution 93-244, L \
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RESOLUTION NO. 9 3 - 2 4 4
RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF CARLSBAD APPROVING THE ISSUANCE BY THE
SION OF $15,495,000 PRINCIPAL AMOUNT OF 1993
TAX AUOCATION BONDS RELATING TO THE VILLAGE
REDEVELOPMENT PROJECT
CARLSBAD HOUSING AND REDEVELOPMENT COMMIS-
WHEREAS, the Carlsbad Housing and Redevelopment Commission
(the "Commission") is undertaking the redevelopment of the Village Project
in the City of Carlsbad (the "Redevelopment Project"), and for such purpose
the Commission has previously issued its Village Redevelopment Project Area
Tax Allocation Bonds, Series A, in the aggregate principal amount of
$12,000,000 (the "1988 Bonds"); and
WHEREAS, the Commission has determined that it is in the
financial interests of the Commission at this time to advance refund the 198E
Bonds, and in order to provide for such refunding and to provide additiona
funding for the Redevelopment Project, the Commission has authorized the
issuance of, and has previously sold, its Carlsbad Housing an(
Redevelopment Commission Village Redevelopment Project 1993 Ta
Allocation Bonds in the aggregate principal amount of $15,495,000 (th
"Bonds") under the provisions of the California Community Redevelopmer
taw, the principal of and interest on which will be payable from ta
increment revenues derived from the Redevelopment Project; and
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WHEREAS, in accordance with the requirements of Section 33640
of the California Health and Safety Code, the City Council wishes at this time
to approve the issuance and sale of the Bonds by the Commission.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Carlsbad, California, that the issuance and sale of the Bonds by the
Commission, in the aggregate principal amount of $15,495,000, be and is
hereby approved. The City Clerk shall certify to the adoption of this
Resolution and shall cause this Resolution and certification to be filed in the
Office of the City Clerk.
special
PASSED, APPROVED AND ADOPTED at ahqpk meeting of the
City Council on the 24th day of August, 1993, by the following vote, to wit:
AYES: Council Members Lewis, Nygaard, Finnila
NOES: None
ABSENT: Council Members Stanton
ATTEST:
(2@.aLVb4&
ALETHA L. RAUTENKRANZ, City Clegff (SEAL)